Management and Cost Accounting

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Cengage Learning EMEA, 2008 - Business & Economics - 775 pages
6 Reviews
Drury's Management & Cost Accounting is the market-leading European text on management accounting and is a comprehensive authority on all aspects of the subject. The book has been streamlined and substantially redesigned in its 7th edition to make it much shorter and easier to use. There are downloadable and interactive resources for the book at www.drury-online.com. The aim of the seventh edition is to explain the principles involved in the design and evaluation of management and cost accounting information systems. The emphasis in the book is on management accounting systems - those that are used to accumulate, classify, summarize and report information that will be used for internal decision-making purposes within an organisation. However, cost accounting systems, that record cost information for external reporting and internal profit measurement purposes, are also comprehensively covered. In summary, this new edition has been brought fully up to date with the latest developments in the subject, is much shorter and more integrated with the web resources for the book, and reverts to the system of having lecturer's questions in the book, with answers on the password-protected side of the site.
 

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Contents

Cost Accounting
2
PART ONE Introduction to Management and Cost Accounting 1 Introduction to management accounting 5
3
Changing competitive environment
11
International convergence of management
17
Assessment material
25
An introduction to cost terms and concepts
27
Cost behaviour
31
PART TWO Cost Accumulation for Inventory Valuation and Profit Measurement
45
the impact of capital rationing taxation inflation and risk
319
Calculating riskadjustment discount rates
326
Initiation authorization and review of projects
332
Assessment material
339
PART FOUR Information for Planning Control and Performance Measurement
347
The budgeting process
351
The multiple functions of budgets
355
A detailed illustration
361

Cost assignment
47
Assigning direct costs to cost objects
51
An illustration of the twostage process for
59
Maintaining the database at standard costs
65
Assessment material
73
Accounting entries for a job costing system
79
Control accounts
82
Nonmanufacturing overheads
88
Assessment material
95
Process costing
99
Process costing when all output is fully
101
Beginning and ending work in progress
109
1 Losses in process and partially
115
Joint and byproduct costing
125
Irrelevance of joint cost allocations
131
Assessment material
137
Income effects of alternative cost accumulation systems
141
Variable costing
144
Information for Decisionmaking
161
PART THREE Information for Decisionmaking ieo Costvolumeprofit analysis
165
The accountants costvolumeprofit model
167
Margin of safety
173
Costvolumeprofit analysis assumptions
179
Measuring relevant costs and revenues for decisionmaking
191
Productmix decisions when capacity constraints
197
Discontinuation decisions
205
The theory of constraints
209
Activitybased costing
221
Designing ABC systems
228
Cost versus benefits considerations
235
Assessment material
241
Pricing decisions and profitability analysis
247
A price taker firm facing shortrun productmix
254
Customer profitability analysis
260
Assessment material
266
Decisionmaking under conditions of risk and uncertainty
271
Risk and uncertainty
272
Decision tree analysis
278
Assessment material
284
appraisal methods
291
The internal rate of return
298
Accounting rate of return
307
Assessment material
313
Selling and administration budget
367
The budgeting process in nonprofitmaking
373
Assessment material
381
Management control systems
387
Advantages and disadvantages of different
394
Setting financial performance targets
402
Standard costing and variance analysis 1
417
Types of cost standards
423
Joint price usage variance
429
Total sales margin variance
435
Assessment material
445
Further aspects
451
Direct materials mix and yields variances
457
The investigation of variances
463
Assessment material
469
Divisional financial performance measures
475
Return on investment
482
The effect of performance measurement on capital
488
Assessment material
494
Transfer pricing in divisionalized companies
501
Full cost transfer prices
507
PART FIVE
535
Cost management
537
Kaizen costing
543
Cost management and the value chain
552
Assessment material
563
Strategic management accounting
569
The balanced scorecard
576
Assessment material
588
PART SIX The Application of Quantitative Methods
593
Cost estimation and cost
595
Relevant range and nonlinear cost functions
604
Multiple regression analysis
611
Quantitative models for the planning and control of stocks
619
The application of linear programming to management accounting
641
Simplex method
648
Assessment material
656
Case Studies
663
Bibliography
681
Answers to Review Problems
701
Index
760
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