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Cover -- Brief Contents -- Contents -- About the Authors -- Preface -- Chapter 1: The Manager and Management Accounting -- iTunes Variable Pricing: Downloads are Down, but Profits are Up -- Financial Accounting, Management Accounting, and Cost Accounting -- Strategic Decisions and the Management Accountant -- Value-Chain and Supply-Chain Analysis and Key Success Factors -- Value-Chain Analysis -- Supply-Chain Analysis -- Key Success Factors -- Concepts in Action: Trader Joe's Recipe for Cost Leadership -- Decision Making, Planning, and Control: The Five-Step Decision-Making Process -- Key Management Accounting Guidelines -- Cost-Benefit Approach -- Behavioral and Technical Considerations -- Different Costs for Different Purposes -- Organization Structure and the Management Accountant -- Line and Staff Relationships -- The Chief Financial Officer and the Controller -- Management Accounting Beyond the Numbers -- Professional Ethics -- Institutional Support -- Typical Ethical Challenges -- Problem for Self-Study -- Decision Points -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Chapter 2: An Introduction to Cost Terms and Purposes -- High Fixed Costs Bankrupt Twinkie Maker -- Costs and Cost Terminology -- Direct Costs and Indirect Costs -- Cost Allocation Challenges -- Factors Affecting Direct/Indirect Cost Classifications -- Cost-Behavior Patterns: Variable Costs and Fixed Costs -- Cost Drivers -- Concepts in Action: Zipcar Helps Twitter Reduce Fixed Costs -- Relevant Range -- Relationships Between Types of Costs -- Total Costs and Unit Costs -- Unit Costs -- Use Unit Costs Cautiously -- Business Sectors, Types of Inventory, Inventoriable Costs, and Period Costs -- Manufacturing-, Merchandising-, and Service-Sector Companies -- Types of Inventory -- Commonly Used Classifications of Manufacturing Costs.
Inventoriable Costs -- Period Costs -- Illustrating the Flow of Inventoriable Costs and Period Costs -- Manufacturing-Sector Example -- Recap of Inventoriable Costs and Period Costs -- Prime Costs and Conversion Costs -- Concepts in Action: Cost Structure at Nordstrom -- Measuring Costs Requires Judgment -- Measuring Labor Costs -- Overtime Premium and Idle Time -- Benefits of Defining Accounting Terms -- Different Meanings of Product Costs -- A Framework for Cost Accounting and Cost Management -- Calculating the Cost of Products, Services, and Other Cost Objects -- Obtaining Information for Planning and Control and Performance Evaluation -- Analyzing the Relevant Information for Making Decisions -- Problem for Self-Study -- Decision Points -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Chapter 3: Cost-Volume-Profit Analysis -- How "The Biggest Rock Show Ever" Turned a Big Profit -- Essentials of CVP Analysis -- Contribution Margin -- Expressing CVP Relationships -- Cost-Volume-Profit Assumptions -- Breakeven Point and Target Operating Income -- Breakeven Point -- Target Operating Income -- Target Net Income and Income Taxes -- Using CVP Analysis for Decision Making -- Decision to Advertise -- Decision to Reduce the Selling Price -- Determining Target Prices -- Sensitivity Analysis and Margin of Safety -- Cost Planning and CVP -- Alternative Fixed-Cost/Variable-Cost Structures -- Operating Leverage -- Concepts in Action: Cost-Volume-Profit Analysis Makes Megabus a Mega-Success -- Effects of Sales Mix on Income -- CVP Analysis in Service and Not-for-Profit Organizations -- Contribution Margin Versus Gross Margin -- Problem for Self-Study -- Decision Points -- Appendix: Decision Models and Uncertainty -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Chapter 4: Job Costing.
Job Costing and "Green" Home Construction -- Building-Block Concepts of Costing Systems -- Job-Costing and Process-Costing Systems -- Job Costing: Evaluation and Implementation -- Time Period Used to Compute Indirect-Cost Rates -- Normal Costing -- General Approach to Job Costing Using Normal Costing -- Concepts in Action: The Job Costing "Game Plan" at the New Cowboys Stadium -- The Role of Technology -- Concepts in Action: Home Depot Undergoes an Inventory Management "Fix-It" -- Actual Costing -- A Normal Job-Costing System in Manufacturing -- General Ledger -- Explanations of Transactions -- Subsidiary Ledgers -- Nonmanufacturing Costs and Job Costing -- Budgeted Indirect Costs and End-of-Accounting-Year Adjustments -- Underallocated and Overallocated Indirect Costs -- Adjusted Allocation-Rate Approach -- Proration Approach -- Writeoff to Cost of Goods Sold Approach -- Choosing Among Approaches -- Variations from Normal Costing: A Service-Sector Example -- Problem for Self-Study -- Decision Points -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Chapter 5: Activity-Based Costing and Activity-Based Management -- LG Electronics Reduces Costs and Inefficiencies through Activity-Based Costing -- Broad Averaging and Its Consequences -- Undercosting and Overcosting -- Product-Cost Cross-Subsidization -- Simple Costing System at Plastim Corporation -- Design, Manufacturing, and Distribution Processes -- Simple Costing System Using a Single Indirect-Cost Pool -- Applying the Five-Step Decision-Making Process at Plastim -- Refining a Costing System -- Reasons for Refining a Costing System -- Guidelines for Refining a Costing System -- Activity-Based Costing Systems -- Plastim's ABC System -- Cost Hierarchies -- Implementing Activity-Based Costing -- Implementing ABC at Plastim -- Comparing Alternative Costing Systems.
Considerations in Implementing Activity-Based Costing Systems -- Benefits and Costs of Activity-Based Costing Systems -- Behavioral Issues in Implementing Activity-Based Costing Systems -- Activity-Based Management -- Pricing and Product-Mix Decisions -- Cost Reduction and Process Improvement Decisions -- Design Decisions -- Planning and Managing Activities -- Activity-Based Costing and Department Costing Systems -- ABC in Service and Merchandising Companies -- Concepts in Action: Pincky Inc.: Capacity Costs and Time Driven Activity-Based Costing -- Problem for Self-Study -- Decision Points -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Chapter 6: Master Budget and Responsibility Accounting -- Scrimping" at the Ritz: Master Budgets -- Budgets and the Budgeting Cycle -- Strategic Plans and Operating Plans -- Budgeting Cycle and Master Budget -- Advantages and Challenges of Implementing Budgets -- Promoting Coordination and Communication -- Providing a Framework for Judging Performance and Facilitating Learning -- Motivating Managers and Other Employees -- Challenges in Administering Budgets -- Developing an Operating Budget -- Time Coverage of Budgets -- Steps in Preparing an Operating Budget -- Financial Planning Models and Sensitivity Analysis -- Concepts in Action: Web-Enabled Budgeting and Hendrick Motorsports -- Budgeting and Responsibility Accounting -- Organization Structure and Responsibility -- Feedback -- Responsibility and Controllability -- Human Aspects of Budgeting -- Budgetary Slack -- Stretch Targets -- Kaizen Budgeting -- Budgeting in Multinational Companies -- Problem for Self-Study -- Decision Points -- Appendix: The Cash Budget -- Preparation of Budgets -- Sensitivity Analysis and Cash Flows -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems.
Chapter 7: Flexible Budgets, Direct-Cost Variances, and Management Control -- SingaDeli Bakery -- Static Budgets and Variances -- The Use of Variances -- Static Budgets and Static-Budget Variances -- Flexible Budgets -- Flexible-Budget Variances and Sales-Volume Variances -- Sales-Volume Variances -- Flexible-Budget Variances -- Concepts in Action: Flexible Budgets at Corning -- Standard Costs for Variance Analysis -- Obtaining Budgeted Input Prices and Budgeted Input Quantities -- Price Variances and Efficiency Variances for Direct-Cost Inputs -- Price Variances -- Efficiency Variance -- Journal Entries Using Standard Costs -- Implementing Standard Costing -- Concepts in Action: Starbucks Reduces Direct-Cost Variances to Brew a Turnaround -- Management's Use of Variances -- Multiple Causes of Variances -- When to Investigate Variances -- Using Variances for Performance Measurement -- Organization Learning -- Continuous Improvement -- Financial and Nonfinancial Performance Measures -- Benchmarking and Variance Analysis -- Problem for Self-Study -- Decision Points -- Appendix: Mix and Yield Variances for Substitutable Inputs -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Chapter 8: Flexible Budgets, Overhead Cost Variances, and Management Control -- Planning Fixed and Variable Overhead Costs at Tesla Motors -- Planning of Variable and Fixed Overhead Costs -- Planning Variable Overhead Costs -- Planning Fixed Overhead Costs -- Standard Costing at Webb Company -- Developing Budgeted Variable Overhead Rates -- Developing Budgeted Fixed Overhead Rates -- Variable Overhead Cost Variances -- Flexible-Budget Analysis -- Variable Overhead Efficiency Variance -- Variable Overhead Spending Variance -- Journal Entries for Variable Overhead Costs and Variances -- Fixed Overhead Cost Variances -- Production-Volume Variance.
Interpreting the Production-Volume Variance.
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Cost accounting : a managerial emphasis / / Charles T. Horngren, Stanford University, Srikant M. Datar, Harvard University, Madhav V. Rajan, Stanford University
