Managerial and Cost Accounting

This book is the sixth of seven books which introduces the basic principles of accounting. This book introduces managerial accounting, with a primary focus on internal business reporting, decision making, planning, strategy, budgets, and cost control. Cost-volume-profit analysis, variable cost, fixed costs, mixed costs are introduced. Break-even analysis, contributions margin, target income calculations, and sensitivity analysis are all discussed in detail. In addition, product costs, job costing, process costing, and activity-based costing are introduced.

1. Professional Certifi cations in Management Accounting

1. Decision Making
2. Planning
3. Strategy
4. Positioning
5. Budgets
6. Directing

1. Period Costs

1. Schedule of Raw Materials
2. Schedule of Work in Process
3. Schedule of Cost of Goods Manufactured
4. Schedule of Cost of Goods Sold
5. The Income Statement
6. Reviewing Cost of Flow Concepts for a Manufacturer
7. Critical Thinking About Cost Flow

1. The Nature of Costs
2. Variable Costs
3. Fixed Costs
4. Business Implications of the Fixed Cost Structure
5. Economies of Scale
6. Dialing in Your Business Model

1. Mixed Costs
2. High-Low Method
3. Method of Least Squares
4. Recap

1. Contribution Margin
2. Contribution Margin: Aggregated, per Unit, or Ratio?
3. Graphic Presentation
4. Break-Even Calculations
5. Target Income Calculations
6. Critical Thinking About CVP

1. Changing Fixed Costs
2. Changing Variable Costs
3. Blended Cost Shifts
4. Per Unit Revenue Shifts
5. Margin Beware
6. Margin Mathematics

1. Multiple Products, Selling Costs, and Margin Management

1. Cost Data Determination
2. Conceptualizing Job Costing
3. Tracking Direct Labor
4. Tracking Direct Materials
5. Tracking Overhead
6. Job Cost Sheets
7. Expanding the Illustration
8. Another Expansion of the Illustration
9. Database Versus Spreadsheets
10. Moving Beyond the Conceptual Level

1. Direct Material
2. Direct Labor
3. Overhead and Cost Drivers

1. Direct Material
2. Direct Labor
3. Applied Factory Overhead
4. Overview
5. Financial Statement Impact Scenarios
6. Cost Flows to the Financial Statements
7. Subsidiary Accounts
8. Global Trade and Transfers

1. The Factory Overhead Account
2. Actual Overhead
3. The Balance of Factory Overhead
4. Underapplied Overhead
5. Overapplied Overhead
6. Infl uence of Gaap

1. The Service Sector
2. Capacity Utilization

1. Global Competition
2. Kaizen
3. Lean Manufacturing
4. Just in Time Inventory
5. Total Quality Management
6. Six Sigma
7. Reflection on Modern Cost Management

1. Process Costing
2. Comparing Job and Process Costing
3. Introduction to the Cost of Production Report
4. Job Costing Flows
5. Process Costing Flows
6. Job Costing Flows on Job Cost Sheets
7. Process Costing Flows on Cost of Production Reports

1. Factors of Production
2. An Illustration of Equivalent Units Calculations
3. Cost per Equivalent Unit

1. Cost of Production Report
2. Journal Entries
3. Subsequent Departments
4. The Big Picture
5. FIFO Process Costing

1. Pros of ABC
2. Cons of ABC
3. The Reality of ABC
4. A Closer Look at ABC Concepts
5. The Steps to Implement ABC
6. A Simple Analogy
7. A Case Study in ABC
8. Study Process and Costs
9. Identify Activities
10. Determine Traceable Costs and Allocation Rates
11. Assign Costs to Activities
12. Determine Per-Activity Allocation Rates
13. Apply Costs to Cost Objects
14. What Just Happened?
15. A Great Tool, But not a Panacea