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Management Accounting

Management Accounting

Michael J. Jones

ISBN: ES8-0-470-05770-4

Select type: WileyPLUS

Description

Management Accounting provides a very accessible and easy-to-follow introduction to the subject.  It is intended as a core textbook for students studying management accounting for the first time: either those following an undergraduate degree in a business school, or non-business studies students studying a management accounting course.  This includes students on both accounting and non-accounting degrees and also MBA students.  It provides a self-contained, introductory, one semester course covering the major aspects of management accounting.  Management Accounting is also designed so that students can progress to more advanced follow-up courses in management accounting.  The book is, therefore, well suited as an introduction for mainstream accounting graduates or MBA students as a basic text. It should be particularly useful in reinforcing the fundamental theory and practice of introductory management accounting.

Related Resources

About the Author.

About the Book.

Second Edition.

Acknowledgements.

Dedication.

1 Introduction to Accounting.

Introduction.

Nature of Accounting.

Importance of Accounting.

Financial Accounting and Management Accounting.

Users of Accounts.

Accounting Context.

Types of Accountancy.

Types of Accountant.

Limitations of Accounting.

Conclusion.

Discussion Questions.

Management Accounting.

2 Introduction to Management Accounting.

Introduction.

Context.

Relationship with Financial Accounting.

Overview.

Cost Minimisation and Revenue Maximisation.

Use of Computers.

Conclusion.

Selected Reading.

Discussion Questions.

3 Costing.

Introduction.

Importance of Cost Accounting.

Types of Cost.

Traditional Costing.

Activity-Based Costing.

Costing for Stock Valuation.

Different Costing Methods for Different Industries.

Target Costing.

Cost-Cutting.

Conclusion.

Discussion Questions.

Numerical Questions.

4 Planning, Control and Performance: Budgeting.

Introduction.

Management Accounting Control Systems.

Nature of Budgeting.

Cash Budget.

Other Budgets.

Manufacturing Budgets.

Comprehensive Budgeting Example.

Behavioural Aspects of Budgeting.

Responsibility Accounting.

Conclusion.

Discussion Questions.

Numerical Questions.

5 Planning, Control and Performance: Standard Costing.

Introduction.

Nature of Standard Costing.

Standard Cost Variances.

Interpretation of Variances.

Conclusion.

Discussion Questions.

Numerical Questions.

6 Short-Term Decision Making.

Introduction.

Decision Making.

Contribution Analysis.

Decisions, Decisions.

Throughput Accounting.

Break-Even Analysis.

Contribution Graph.

Conclusion.

Discussion Questions.

Numerical Questions.

7 Strategic Management Accounting.

Introduction.

Nature of Strategic Management Accounting.

Assessment of Current Position of the Business.

Appraisal of Current Position of the Business.

Strategic Choice of Future Direction.

Conclusion.

Selected Reading.

Discussion Questions.

Numerical Questions.

8 Long-Term Decision Making: Capital Investment Appraisal.

Introduction.

Nature of Capital Investment.

Capital Investment Appraisal Techniques.

Other Factors.

Conclusion.

Discussion Questions.

Numerical Questions.

Appendix 21.1 Present Value of £1 at Compound Interest Rate (1 + r).

9 The Management of Working Capital and Sources of Finance.

Introduction.

Nature of Sources of Finance.

Short-Term Financing.

Long-Term Financing.

Cost of Capital.

Conclusion.

Discussion Questions.

Numerical Questions.

Further Reading.

Glossary of Key Accounting Terms.

Appendix: Answers.

Index.

  • Provides a solid introduction to the basics of management accounting and costing, as well as an introduction to strategic management accounting
  • ‘Real Life Nuggets’ provide examples from the business press that give the body of the text a contemporary and real life resonance
  • A large number of end of chapter questions of escalating difficulty, together with the accompanying answers, enables the reader to develop their understanding of the key concepts discussed in the text
  • WileyPLUS - an online suite of resources, designed to help teachers teach, create and mark homework assignments, administer their class and track student progress.