Introduction to Management Accounting
Prentice Hall, 2002 - Cost accounting - 789 pages
Get refreshed with Horngren/Sundem/Stratton's Introduction to Management Accounting, Twelfth Edition. This best-selling book offers a relevant, real-world decision-making approach to management accounting. Readers develop a solid understanding of costs and cost behavior and the use of cost information for planning and control decisions, not just inventory valuation. The Twelfth Edition now includes user-oriented real-world company examples such as Nantucket Nectars and McDonalds; new "Cognitive Exercises" and "Business First" boxes, new on-line courses and tutorial software package resources, and a new CD-ROM series, "Mastering Accounting." It emphasizes the notion that "You need to understand the business first, before you can understand the accounting of business." The first part of the book focuses on decision-making in business using accounting information -- which is then carried as a theme through the rest of the book. Examples are taken from nonprofit, retail, service, selling, and administrative situations as well as manufacturing.
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ABC system accounting system activity activity-based costing activity-based management actual analysis annual Assume average break-even point cash ﬂows company’s Compute contribution margin conversion costs cost behavior cost driver cost function cost objective cost-driver costing system customers CVP analysis department costs depreciation direct labor Direct materials Division dollars effects employees equipment example Exhibit Explain factory overhead fixed costs fixed expenses ﬂexible budget Focus ON DECISION identify income statement income taxes increase inﬂows inﬂuence inventory investment machine hours maintenance management accounting manufacturing costs master budget measure method million month operating income opportunity cost organization patient-days performance planning and control predicted product costs profit purchase regression analysis revenue salaries selling and administrative selling price sold Suppose target costing tion total cost transfer price unit costs value chain variable costs variable expenses variances volume