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Management and Cost Accounting For Dummies - UK, UK Edition




Management and Cost Accounting For Dummies - UK, UK Edition

Mark P. Holtzman, Sandy Hood

ISBN: 978-1-118-65049-3 September 2013 416 Pages


With easy-to-understand explanations and real-life examples, Management & Cost Accounting For Dummies provides students and trainees with the basic concepts, terminology and methods to identify, measure, analyse, interpret, and communicate accounting information in the context of managerial decision-making.

Major topics include:

  • cost behaviour
  • cost analysis
  • profit planning and control measures
  • accounting for decentralized operations
  • budgeting decisions
  • ethical challenges in management and cost accounting
Introduction  1

Part I: Getting Started with Management and Cost Accounting  7

Chapter 1: Planning and Control: The Role of Management Accounting 9

Chapter 2: Using Management Accounting in Your Business 27

Part II: Understanding and Managing Costs  45

Chapter 3: Classifying Direct and Indirect Costs 47

Chapter 4: Allocating, Apportioning and Absorbing Overhead 71

Chapter 5: Costing Products Flowing Through a Business 95

Chapter 6: Job Costing: Pricing Individual Orders 105

Chapter 7: Process Costing: Tracking What’s Produced and How Much it Costs 119

Chapter 8: Observing How Variable and Fixed Costs Behave 143

Part III: Planning and Budgeting  161

Chapter 9: Using Contribution Analysis to Make Better Decisions 163

Chapter 10: Decision-Making Within the Reality of Limited Capacity 189

Chapter 11: Deciding on Long-Term Purchases: Capital Budgeting 205

Chapter 12: Naming Your Price: Approaches to Decision-Making 229

Chapter 13: Doing Deals between Company Divisions: Transfer Prices 243

Chapter 14: Planning Budgets for the Future 259

Part IV: Using Management Accounting for Evaluation and Control  279

Chapter 15: Using Flexible Budgets to Exert Control 281

Chapter 16: Variance Analysis: Flexing Standard Costs 293

Chapter 17: Establishing Accountability with Responsibility Accounting 317

Chapter 18: The Balanced Scorecard: Reviewing Your Business’s Report Card 329

Chapter 19: Squeezing Out of a Tight Spot with the Theory of Constraints 347

Part V: The Part of Tens  357

Chapter 20: Ten Key Management Accounting Formulas 359

Chapter 21: Ten Careers in Management Accounting 371

Index  375