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Managerial Accounting : A Focus on Decision Making

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ISBN-10: 0324183429

ISBN-13: 9780324183429

Edition: 2nd 2002

Authors: Steve Jackson, Roby Sawyers

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This text is unique in its first-person, discovery learning approach using a 4-step decision-making model throughout. It truly conveys a management perspective, by including coverage of topics such as ABM, the value chain and balanced scorecard evaluation techniques. It is also the first managerial text to incorporate coverage on knowledge management (Ch. 13) highlighting the latest developments for improved managerial decision making.
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Book details

Edition: 2nd
Copyright year: 2002
Publisher: Cengage South-Western
Binding: Hardcover
Language: English

Accounting Information and Managerial Decisionsp. 2
Introductionp. 4
Accounting Informationp. 4
The Users of Accounting Informationp. 5
The Decision-Making Role of Managersp. 7
The Role of the Managerial Accountantp. 8
Management Actions and Decisionsp. 9
The Role of Other Managersp. 10
A Summary of Accounting Information Used by Internal and External Usersp. 11
An Introduction to Decision Makingp. 11
A Decision-Making Modelp. 13
In the Newsp. 14
Management Actions and Decisionsp. 14
Relevant Factors and Decision Makingp. 15
Risk and Decision Makingp. 16
Ethics and Decision Makingp. 16
Management Actions and Decisionsp. 17
In the Newsp. 18
Standards of Ethical Conduct for Practitioners of Management Accounting and Financial Managementp. 19
The Costing of Products and Servicesp. 27
The Production Process and Product (Service) Costingp. 28
Introductionp. 30
Manufacturing, Merchandising, and Service Organizationsp. 30
The Production Processp. 30
In the Newsp. 32
In the Newsp. 34
Product Costs in a Manufacturing Companyp. 34
Nonmanufacturing Costsp. 35
Life-Cycle Costs and the Value Chainp. 36
Cost Flows in a Manufacturing Company--Traditional Environment with Inventoryp. 36
The Cost-of-Goods-Sold Model for a Traditional Manufacturing Company with Inventoryp. 38
Cost Flows in a Manufacturing Company--JIT Environmentp. 40
Merchandising Companies and the Cost of Productsp. 41
Cost Flows in a Service Companyp. 41
Product Costs and Period Costsp. 42
In the Newsp. 46
Product-Costing Measurement Decisionsp. 62
Introductionp. 64
Application in Businessp. 64
Product-Costing Systemsp. 65
Basic Job-Order Costing for Manufacturing and Service Companiesp. 66
The Role of Cost Pools and Cost Driversp. 69
Departmental Overhead Ratesp. 70
The Use of Estimatesp. 72
Basic Process Costingp. 74
Backflush Costingp. 76
Additional Topics in Process Costingp. 77
FIFO Methodp. 80
Weighted-Average Methodp. 82
Product Costing for Management Decisions: Activity-Based Costing and Activity-Based Managementp. 96
Introductionp. 98
Activity-Based Costingp. 98
Cost Driversp. 100
Traditional Overhead Allocation and ABC--An Examplep. 101
ABC Systems in Service Industriesp. 107
In the Newsp. 107
ABC and Selling and Administrative Activitiesp. 108
In the Newsp. 108
ABC and Just in Time (JIT)p. 108
Cost Flows and ABCp. 108
Benefits and Limitations of ABCp. 109
In the Newsp. 109
Activity-Based Management and ABCp. 110
In the Newsp. 110
ABM and the Value Chainp. 110
Successful Implementation of ABC and ABMp. 112
Management Actions and Decisionsp. 112
The Nature of Costs in Decision Makingp. 129
The Nature of Costsp. 130
Introductionp. 132
The Behavior of Fixed and Variable Costsp. 132
Application in Businessp. 133
The Cost Equationp. 134
Cost Behavior and Decision Makingp. 135
Application in Businessp. 136
Step Costsp. 136
Mixed Costsp. 136
Separating Mixed Costs into their Fixed and Variable Componentsp. 138
Regression Analysisp. 139
Estimating Regression Results Using the High/Low Methodp. 144
Cost Behavior, Activity-Based Costing, and Activity-Based Managementp. 145
Cost Behavior in Merchandising and Service Companiesp. 145
Relevant Costs and Cost Behaviorp. 145
The Impact of Income Taxes on Costs and Decision Makingp. 146
Before- and After-Tax Net Incomep. 147
Application in Businessp. 147
The Time Value of Money and Decision Makingp. 148
Cost Behavior and Decision Making: Cost-Volume-Profit Analysisp. 162
Introductionp. 164
The Contribution Margin Income Statementp. 164
Application in Businessp. 164
The Contribution Margin and Its Usesp. 167
What-If Decisions Using CVPp. 168
In the Newsp. 172
Changes in Price and Volumep. 172
Changes in Cost, Price, and Volumep. 173
In the Newsp. 173
Break-Even Analysisp. 174
Break-Even Calculations with Multiple Productsp. 176
Break-Even Calculations Using Activity-Based Costingp. 179
Target Profit Analysis (Before and After Tax)p. 181
The Impact of Taxesp. 182
Application in Businessp. 184
Assumptions of CVP Analysisp. 184
Cost Structure and Operating Leveragep. 184
Variable Costing for Decision Makingp. 187
Accounting Information, Relevant Costs, and Decision Makingp. 202
Introductionp. 204
Pricing of Products and Servicesp. 204
In the Newsp. 204
In the Newsp. 205
Application in Businessp. 206
Management Actions and Decisionsp. 208
Legal and Ethical Issues in Pricingp. 208
In the Newsp. 209
Special Ordersp. 209
In the Newsp. 211
Outsourcing and Other Make-or-Buy Decisionsp. 212
In the Newsp. 213
In the Newsp. 216
The Decision to Drop a Product or Servicep. 216
In the Newsp. 217
Resource Utilization Decisionsp. 219
The Theory of Constraintsp. 220
Decisions to Sell or Process Furtherp. 222
In the Newsp. 222
ABC and Relevant-Cost Analysisp. 222
Long-Term (Capital Investment) Decisionsp. 244
Introductionp. 246
Focus on Cash Flowp. 246
In the Newsp. 246
Screening and Preference Decisionsp. 247
Discounted Cash Flow Analysisp. 248
Screening versus Preference Decisionsp. 252
The Impact of Taxes on Capital Investment Decisionsp. 254
An Extended Examplep. 256
The Impact of Uncertainty on Capital Investment Decisionsp. 259
Sensitivity Analysisp. 259
The Impact of the New Manufacturing Environment on Capital Investment Decisionsp. 260
The Payback Methodp. 261
Time Value of Money and Decision Makingp. 263
Future Valuep. 263
Present Valuep. 266
In the Newsp. 269
Annuitiesp. 272
Planning, Performance Evaluation, and Controlp. 289
The Use of Budgets in Planning and Decision Makingp. 290
Introductionp. 292
In the Newsp. 293
The Budget Development Processp. 293
Application in Businessp. 293
Budgets for Planning, Operating, and Controlp. 294
Advantages of Budgetingp. 295
Budgeting for Salesp. 296
In the Newsp. 296
Operating Budgets--An Examplep. 297
Budgeting for a Traditional Manufacturing Company with Inventoryp. 298
Cash Budgetsp. 303
In the Newsp. 303
Budgeted Financial Statementsp. 307
Budgets for a Manufacturing Company in a JIT Environmentp. 310
Budgets for Merchandising Companies and Service Companiesp. 310
Life-Cycle Costs, the Value Chain, and Budgetingp. 311
Budgeting in an International Environmentp. 312
Nonmonetary Budgetsp. 312
Application in Businessp. 313
Static versus Flexible Budgetsp. 313
ABC and Flexible Budgetsp. 315
The Use of Budgets for Cost Control and Performance Evaluationp. 328
Introductionp. 330
Standard Costingp. 330
In the Newsp. 331
Use of Standards by Nonmanufacturing Organizationsp. 331
Application in Businessp. 332
Flexible Budgeting with Standard Costsp. 332
Sales Volume Variancep. 333
Sales Price Variancep. 335
Variable Manufacturing Cost Variancesp. 335
A Model for Variance Analysisp. 337
Direct Material Variancesp. 338
Direct Labor Variancesp. 340
Variable-Overhead Variancesp. 340
Fixed-Overhead Variancesp. 342
Application in Businessp. 342
Activity-Based Costing and Variance Analysisp. 344
Selling and Administrative-Expense Variancep. 345
Interpretating and Using Variance Analysisp. 346
Behavioral Considerationsp. 348
Other Tools for Cost Control and Performance Evaluationp. 364
Introductionp. 366
Management of Decentralized Organizationsp. 366
In the Newsp. 366
Responsibility Accounting and Segment Reportingp. 367
Cost, Profit, and Investment Centersp. 368
Profit Center Performance and Segmented Income Statementsp. 369
In the Newsp. 370
Application in Businessp. 372
Investment Centers and Measures of Performancep. 373
Return on Investment (ROI)p. 373
Residual Incomep. 378
Application in Businessp. 379
Economic Value Added (EVA)p. 380
In the Newsp. 380
Management Actions and Decisionsp. 381
Segment Performance and Transfer Pricingp. 382
A General Model for Computing Transfer Pricesp. 384
International Aspects of Transfer Pricingp. 385
In the Newsp. 386
Nonfinancial Measures of Performancep. 396
Introductionp. 398
The Balanced Scorecardp. 398
In the Newsp. 401
A Focus on Qualityp. 401
In the Newsp. 402
In the Newsp. 404
Productivity Measuresp. 404
In the Newsp. 406
In the Newsp. 406
Efficiency and Timeliness Measuresp. 406
Marketing Measuresp. 409
The Impact of Management Decisionsp. 417
The Management of Information and Knowledge for Better Decisionsp. 418
Introductionp. 420
The Evolution of Data, Information, and Knowledge Managementp. 420
In the Newsp. 421
In the Newsp. 422
Knowledge Management Toolsp. 424
In the Newsp. 425
In the Newsp. 425
ERP, EDI, and E-Businessp. 426
In the Newsp. 428
Internal Control and the Prevention of Fraudp. 432
Introductionp. 434
Fraudp. 434
In the Newsp. 435
In the Newsp. 435
Causes of Fraudp. 436
Internal Control Systems and the Prevention of Fraudp. 437
In the Newsp. 438
Internal Control Proceduresp. 439
Common Frauds and Effective Internal Controlsp. 441
Behavioral Implications of Internal Control Systemsp. 442
Internal Control in an E-Business Environmentp. 442
In the Newsp. 443
Other Topicsp. 449
The Statement of Cash Flows: Reporting and Analyzingp. 450
Introductionp. 452
In the Newsp. 452
Purpose of the Statement of Cash Flowsp. 452
The Definition of Cash: Cash and Cash Equivalentsp. 454
Noncash Transactionsp. 455
Cash Flows from Operating Activitiesp. 455
The Statement of Cash Flows and the Accounting Equationp. 458
Preparing the Statement of Cash Flowsp. 458
Using the Cash Flow Statement in Decision Makingp. 465
Cash Flow Adequacyp. 466
Financial Statement Analysisp. 476
Introductionp. 478
Why Analyze Financial Statements?p. 478
Horizontal Analysisp. 479
Vertical Analysisp. 482
Comparison of Robyn's to the GAPp. 484
Ratio Analysisp. 484
In the Newsp. 495
Big Al's Pizza: Business Simulationp. 505
Glossaryp. 517
Company Indexp. 523
Subject Indexp. 525
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