Cost Management: Measuring, Monitoring, and Motivating Performance
November 2004, ©2005
Many students fail to recognize the assumptions, limitations, behavioral implications and qualitative factors that influence managerial decision-making. The dynamic, new author team focuses on cost accounting methods, techniques and the quality of cost accounting information used for decision-making to deliver a thoroughly modern treatment of cost accounting topics.
The textbook is written in a style that is accessible to students and proactive about addressing the challenges that instructors and students face in their teaching and learning endeavors by utilizing features such as a decision-making framework, realistic examples, guide your learning boxes, real ethical dilemmas, self-study problems and unique problem material structured to encourage students to think about accounting problems and problem-solving more complexly.
1. The Role of Accounting Information in Management Decision Making.
2. The Cost Function.
3. Cost-Volume-Profit Analysis.
4. Relevant Costs for non-Routine Operating Decisions.
PART TWO: MEASURING AND ASSIGNING COSTS FOR INTERNAL AND EXTERNAL REPORTING.
5. Job Costing.
6. Process Costing.
7. Activity Based Costing and Management.
8. Measuring and Assigning Support Department Costs.
9. Joint Product and By Product Costing.
PART THREE: PLANNING, MONITORING, AND MOTIVATING.
10. Static and Flexible Budgets.
11. Standard Costs and Variance Analysis.
12. Strategic Investment Decisions.
13. Joint Management of Revenues and Costs.
14. Measuring and Assigning Costs for Income Statements.
15. Performance Evaluation and Compensation.
16. Strategic Performance Measurement.
Organization and People Index.
Susan K. Wolcott, PhD, CPA, CMA, is an educational consultant with WolcottLynch Associates. Her consulting practice takes her to conferences and campuses around the world where she works with faculty and programs to support critical thinking development, competency assessment, and curriculum innovation. Her publication include Developing Critical Thinking Skills: The Key to Professional Competencies, an American Accounting Association Academic Partners Toolkit. She chaired the AICPA Core Competency Framework Curriculum Evaluation Task Force, developed the Taxonomy of AICPA Core Competencies, and authored numerous assessment materials for the AICPA Educational Competency Assessment Web site. Additional publications can be found in Issues in Accounting Education, Journal of Accounting Education, Assessment Update, IDEA Center Papers, and other journals. She is a member of the AAA, IMA, IIA, and Washington Society of CPAs, where she participates on the Consulting Services Committee. She previously served on the board of directors, as President of the Educational Foundation, and as Chair of the Education Committee of the Colorado Society of CPAs. She also served as Vice President of Membership for the Portland-Columbia Chapter of the IMA and was a program committee member and presenter for the AACSB Outcomes Assessment Seminar. She was previously on the accounting faculty at the University of Denver, where she received the MBA Core Diamond Award for teaching. She regularly teaches CPA and CMA review courses, and she ahs also taught courses at the University of Washington, Helsinki School of Economics-Mikkeli, Instituto de Empresa in Madrid, and J.L. Kellogg Graduate School of Management at Northwestern University. She worked in public accounting for ten years, including three years with Coopers & Lybrand (Portland, Oregon). She holds PhD and MS degrees in Accounting and Information Systems from Northwestern University and a BBA in Accounting from the University of Portland.
Focuses on a wide range of business types, including: manufacturing, retail, service, non-profit, US and International, as well as small to large private companies.
Focus on Bias and Uncertainties in the creation and use of cost accounting information for decision-making purposes
Explores ethical questions about real business scenarios by introducing an ethical decision making framework in Chapter 1; presenting ethical scenarios in each chapter; and posing one or more ethical homework problems in each chapter.
Uses a decision - making model - Steps for Better Thinking - as a pedagogical tool to foster student’s analytical and decision-making skills that they need to develop.
A selection of end of chapter material that challenges a student’s computational, spreadsheet, and critical thinking skills with unique problem types including:
Integrating Across the Curriculum homework problems where students are asked to integrate applications of the cost accounting concepts across the curriculum e.g., auditing, marketing, finance
Learning Outcome Assessment homework problems accompanied by detailed guideance in the instructor manual.
Build Your Professional Competencies homework problem in each chapter that encourages students to explore in detail one of the IMA / AICPA core competencies and tie that competency to course content
Ethics homework problems, many featuring real world scenarios