Managerial Accounting : A Focus on Decision Making

Name: Managerial Accounting : A Focus on Decision Making
Availability: OutOfStock
ISBN: 9780324183429

ISBN-10: 0324183429

ISBN-13: 9780324183429

Edition: 2nd 2002

Authors: Steve Jackson, Roby Sawyers

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Description:

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.

Book details

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

Accounting Information and Managerial Decisions	p. 2
Introduction	p. 4
Accounting Information	p. 4
The Users of Accounting Information	p. 5
The Decision-Making Role of Managers	p. 7
The Role of the Managerial Accountant	p. 8
Management Actions and Decisions	p. 9
The Role of Other Managers	p. 10
A Summary of Accounting Information Used by Internal and External Users	p. 11
An Introduction to Decision Making	p. 11
A Decision-Making Model	p. 13
In the News	p. 14
Management Actions and Decisions	p. 14
Relevant Factors and Decision Making	p. 15
Risk and Decision Making	p. 16
Ethics and Decision Making	p. 16
Management Actions and Decisions	p. 17
In the News	p. 18
Standards of Ethical Conduct for Practitioners of Management Accounting and Financial Management	p. 19
The Costing of Products and Services	p. 27
The Production Process and Product (Service) Costing	p. 28
Introduction	p. 30
Manufacturing, Merchandising, and Service Organizations	p. 30
The Production Process	p. 30
In the News	p. 32
In the News	p. 34
Product Costs in a Manufacturing Company	p. 34
Nonmanufacturing Costs	p. 35
Life-Cycle Costs and the Value Chain	p. 36
Cost Flows in a Manufacturing Company--Traditional Environment with Inventory	p. 36
The Cost-of-Goods-Sold Model for a Traditional Manufacturing Company with Inventory	p. 38
Cost Flows in a Manufacturing Company--JIT Environment	p. 40
Merchandising Companies and the Cost of Products	p. 41
Cost Flows in a Service Company	p. 41
Product Costs and Period Costs	p. 42
In the News	p. 46
Product-Costing Measurement Decisions	p. 62
Introduction	p. 64
Application in Business	p. 64
Product-Costing Systems	p. 65
Basic Job-Order Costing for Manufacturing and Service Companies	p. 66
The Role of Cost Pools and Cost Drivers	p. 69
Departmental Overhead Rates	p. 70
The Use of Estimates	p. 72
Basic Process Costing	p. 74
Backflush Costing	p. 76
Additional Topics in Process Costing	p. 77
FIFO Method	p. 80
Weighted-Average Method	p. 82
Product Costing for Management Decisions: Activity-Based Costing and Activity-Based Management	p. 96
Introduction	p. 98
Activity-Based Costing	p. 98
Cost Drivers	p. 100
Traditional Overhead Allocation and ABC--An Example	p. 101
ABC Systems in Service Industries	p. 107
In the News	p. 107
ABC and Selling and Administrative Activities	p. 108
In the News	p. 108
ABC and Just in Time (JIT)	p. 108
Cost Flows and ABC	p. 108
Benefits and Limitations of ABC	p. 109
In the News	p. 109
Activity-Based Management and ABC	p. 110
In the News	p. 110
ABM and the Value Chain	p. 110
Successful Implementation of ABC and ABM	p. 112
Management Actions and Decisions	p. 112
The Nature of Costs in Decision Making	p. 129
The Nature of Costs	p. 130
Introduction	p. 132
The Behavior of Fixed and Variable Costs	p. 132
Application in Business	p. 133
The Cost Equation	p. 134
Cost Behavior and Decision Making	p. 135
Application in Business	p. 136
Step Costs	p. 136
Mixed Costs	p. 136
Separating Mixed Costs into their Fixed and Variable Components	p. 138
Regression Analysis	p. 139
Estimating Regression Results Using the High/Low Method	p. 144
Cost Behavior, Activity-Based Costing, and Activity-Based Management	p. 145
Cost Behavior in Merchandising and Service Companies	p. 145
Relevant Costs and Cost Behavior	p. 145
The Impact of Income Taxes on Costs and Decision Making	p. 146
Before- and After-Tax Net Income	p. 147
Application in Business	p. 147
The Time Value of Money and Decision Making	p. 148
Cost Behavior and Decision Making: Cost-Volume-Profit Analysis	p. 162
Introduction	p. 164
The Contribution Margin Income Statement	p. 164
Application in Business	p. 164
The Contribution Margin and Its Uses	p. 167
What-If Decisions Using CVP	p. 168
In the News	p. 172
Changes in Price and Volume	p. 172
Changes in Cost, Price, and Volume	p. 173
In the News	p. 173
Break-Even Analysis	p. 174
Break-Even Calculations with Multiple Products	p. 176
Break-Even Calculations Using Activity-Based Costing	p. 179
Target Profit Analysis (Before and After Tax)	p. 181
The Impact of Taxes	p. 182
Application in Business	p. 184
Assumptions of CVP Analysis	p. 184
Cost Structure and Operating Leverage	p. 184
Variable Costing for Decision Making	p. 187
Accounting Information, Relevant Costs, and Decision Making	p. 202
Introduction	p. 204
Pricing of Products and Services	p. 204
In the News	p. 204
In the News	p. 205
Application in Business	p. 206
Management Actions and Decisions	p. 208
Legal and Ethical Issues in Pricing	p. 208
In the News	p. 209
Special Orders	p. 209
In the News	p. 211
Outsourcing and Other Make-or-Buy Decisions	p. 212
In the News	p. 213
In the News	p. 216
The Decision to Drop a Product or Service	p. 216
In the News	p. 217
Resource Utilization Decisions	p. 219
The Theory of Constraints	p. 220
Decisions to Sell or Process Further	p. 222
In the News	p. 222
ABC and Relevant-Cost Analysis	p. 222
Long-Term (Capital Investment) Decisions	p. 244
Introduction	p. 246
Focus on Cash Flow	p. 246
In the News	p. 246
Screening and Preference Decisions	p. 247
Discounted Cash Flow Analysis	p. 248
Screening versus Preference Decisions	p. 252
The Impact of Taxes on Capital Investment Decisions	p. 254
An Extended Example	p. 256
The Impact of Uncertainty on Capital Investment Decisions	p. 259
Sensitivity Analysis	p. 259
The Impact of the New Manufacturing Environment on Capital Investment Decisions	p. 260
The Payback Method	p. 261
Time Value of Money and Decision Making	p. 263
Future Value	p. 263
Present Value	p. 266
In the News	p. 269
Annuities	p. 272
Planning, Performance Evaluation, and Control	p. 289
The Use of Budgets in Planning and Decision Making	p. 290
Introduction	p. 292
In the News	p. 293
The Budget Development Process	p. 293
Application in Business	p. 293
Budgets for Planning, Operating, and Control	p. 294
Advantages of Budgeting	p. 295
Budgeting for Sales	p. 296
In the News	p. 296
Operating Budgets--An Example	p. 297
Budgeting for a Traditional Manufacturing Company with Inventory	p. 298
Cash Budgets	p. 303
In the News	p. 303
Budgeted Financial Statements	p. 307
Budgets for a Manufacturing Company in a JIT Environment	p. 310
Budgets for Merchandising Companies and Service Companies	p. 310
Life-Cycle Costs, the Value Chain, and Budgeting	p. 311
Budgeting in an International Environment	p. 312
Nonmonetary Budgets	p. 312
Application in Business	p. 313
Static versus Flexible Budgets	p. 313
ABC and Flexible Budgets	p. 315
The Use of Budgets for Cost Control and Performance Evaluation	p. 328
Introduction	p. 330
Standard Costing	p. 330
In the News	p. 331
Use of Standards by Nonmanufacturing Organizations	p. 331
Application in Business	p. 332
Flexible Budgeting with Standard Costs	p. 332
Sales Volume Variance	p. 333
Sales Price Variance	p. 335
Variable Manufacturing Cost Variances	p. 335
A Model for Variance Analysis	p. 337
Direct Material Variances	p. 338
Direct Labor Variances	p. 340
Variable-Overhead Variances	p. 340
Fixed-Overhead Variances	p. 342
Application in Business	p. 342
Activity-Based Costing and Variance Analysis	p. 344
Selling and Administrative-Expense Variance	p. 345
Interpretating and Using Variance Analysis	p. 346
Behavioral Considerations	p. 348
Other Tools for Cost Control and Performance Evaluation	p. 364
Introduction	p. 366
Management of Decentralized Organizations	p. 366
In the News	p. 366
Responsibility Accounting and Segment Reporting	p. 367
Cost, Profit, and Investment Centers	p. 368
Profit Center Performance and Segmented Income Statements	p. 369
In the News	p. 370
Application in Business	p. 372
Investment Centers and Measures of Performance	p. 373
Return on Investment (ROI)	p. 373
Residual Income	p. 378
Application in Business	p. 379
Economic Value Added (EVA)	p. 380
In the News	p. 380
Management Actions and Decisions	p. 381
Segment Performance and Transfer Pricing	p. 382
A General Model for Computing Transfer Prices	p. 384
International Aspects of Transfer Pricing	p. 385
In the News	p. 386
Nonfinancial Measures of Performance	p. 396
Introduction	p. 398
The Balanced Scorecard	p. 398
In the News	p. 401
A Focus on Quality	p. 401
In the News	p. 402
In the News	p. 404
Productivity Measures	p. 404
In the News	p. 406
In the News	p. 406
Efficiency and Timeliness Measures	p. 406
Marketing Measures	p. 409
The Impact of Management Decisions	p. 417
The Management of Information and Knowledge for Better Decisions	p. 418
Introduction	p. 420
The Evolution of Data, Information, and Knowledge Management	p. 420
In the News	p. 421
In the News	p. 422
Knowledge Management Tools	p. 424
In the News	p. 425
In the News	p. 425
ERP, EDI, and E-Business	p. 426
In the News	p. 428
Internal Control and the Prevention of Fraud	p. 432
Introduction	p. 434
Fraud	p. 434
In the News	p. 435
In the News	p. 435
Causes of Fraud	p. 436
Internal Control Systems and the Prevention of Fraud	p. 437
In the News	p. 438
Internal Control Procedures	p. 439
Common Frauds and Effective Internal Controls	p. 441
Behavioral Implications of Internal Control Systems	p. 442
Internal Control in an E-Business Environment	p. 442
In the News	p. 443
Other Topics	p. 449
The Statement of Cash Flows: Reporting and Analyzing	p. 450
Introduction	p. 452
In the News	p. 452
Purpose of the Statement of Cash Flows	p. 452
The Definition of Cash: Cash and Cash Equivalents	p. 454
Noncash Transactions	p. 455
Cash Flows from Operating Activities	p. 455
The Statement of Cash Flows and the Accounting Equation	p. 458
Preparing the Statement of Cash Flows	p. 458
Using the Cash Flow Statement in Decision Making	p. 465
Cash Flow Adequacy	p. 466
Financial Statement Analysis	p. 476
Introduction	p. 478
Why Analyze Financial Statements?	p. 478
Horizontal Analysis	p. 479
Vertical Analysis	p. 482
Comparison of Robyn's to the GAP	p. 484
Ratio Analysis	p. 484
In the News	p. 495
Big Al's Pizza: Business Simulation	p. 505
Glossary	p. 517
Company Index	p. 523
Subject Index	p. 525
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