ISBN-10:
027365778X
ISBN-13:
9780273657781
Pub. Date:
12/01/2002
Publisher:
Pearson Education, Limited
Management Accounting: An Introduction / Edition 3

Management Accounting: An Introduction / Edition 3

by Pauline Weetman

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Product Details

ISBN-13: 9780273657781
Publisher: Pearson Education, Limited
Publication date: 12/01/2002
Edition description: 3rd Edition
Pages: 408
Product dimensions: 7.40(w) x 9.70(h) x 0.90(d)

Table of Contents

Preface to the second edition xi
The accounting equation xiv
Part 1 Setting the scene and defining the basic tools of management accounting 1(76)
Functions of management accounting
3(25)
Introduction
4(1)
Meeting the needs of internal users
5(1)
Management functions
6(7)
Role of management accounting
13(3)
Judgements and decisions: case study illustrations
16(2)
Case studies explored
18(4)
Terminology of management accounting
22(1)
Summary
23(5)
Notes and references
23(1)
Further reading
24(1)
Self-testing on the chapter
24(1)
Cases for study groups
25(1)
Questions
25(3)
Classification of costs
28(21)
Definition of a cost
29(1)
The need for cost classification
29(1)
The meaning of 'activity'
30(1)
Variable costs and fixed costs
30(5)
Direct costs and indirect costs
35(2)
Product costs and period costs
37(1)
Costs for planning and control
37(1)
Costs for decision making
38(1)
Developing cost classification to meet changing circumstances
39(1)
Cost coding
40(1)
Cost selection and reporting
41(2)
Summary
43(6)
Further reading
43(1)
Self-testing on the chapter
44(1)
Cases for study groups
45(1)
Questions
46(3)
Accounting for materials, labour and overheads
49(28)
Introduction
50(1)
Keeping the score: total product cost
50(2)
Accounting for materials costs
52(4)
Accounting for labour costs
56(2)
Production overheads
58(10)
Moving forward
68(2)
Summary
70(7)
Notes and references
70(1)
Further reading
71(1)
Self-testing on the chapter
71(1)
Cases for study groups
72(1)
Questions
73(4)
Part 2 Applying the basic tools of management accounting 77(52)
Job costing and contract costing
79(26)
Introduction
80(1)
Job cost records: an illustration
80(3)
Job costing: applying the accounting equation to transactions
83(6)
Contract accounts
89(3)
Illustration of contract accounting
92(5)
Summary
97(8)
Self-testing on the chapter
98(1)
Cases for study groups
98(1)
Questions
99(6)
Process costing
105(24)
Introduction
106(1)
The role of management accounting
107(1)
Allocation of costs to products in a process industry
108(9)
Joint product costs and by-products
117(4)
Decisions on joint products: sell or process further
121(2)
Summary
123(6)
Further reading
123(1)
Self-testing on the chapter
123(2)
Case for study groups
125(1)
Questions
125(4)
Part 3 Planning and controlling 129(114)
Preparing a budget
131(43)
Purpose and nature of a budget system
132(4)
Administration of the budgetary process
136(5)
The benefits of budgeting
141(4)
Problems of budgeting
145(3)
Limitations of line item budgets
148(2)
Practical example - development of a budget
150(10)
Budget periods shorter than 12 months
160(4)
Summary
164(10)
Further reading
164(1)
Self-testing on the chapter
164(1)
Cases for study groups
165(1)
Questions
166(8)
Standard costs
174(36)
Introduction
175(1)
Purpose of creating standard costs
176(1)
The level of output to be used in setting standards
176(1)
The control process
177(2)
Direct materials cost variance
179(2)
Direct labour cost variance
181(2)
Variable overhead cost variance
183(1)
Fixed overhead expenditure variance
183(2)
Case study: Allerdale Ltd
185(6)
Investigating variances
191(1)
Flexible budgets and variance analysis
192(1)
Case study: Brackendale Ltd
193(4)
Is variance analysis, based on standard costs, a useful exercise?
197(2)
A broader view of applications of variance analysis
199(1)
Summary
200(10)
Further reading
201(1)
Self-testing on the chapter
201(1)
Cases for study groups
202(1)
Questions
202(8)
Performance evaluation and feedback reporting
210(33)
Introduction
211(2)
Preparing performance reports
213(1)
Performance evaluation
214(2)
Measurement of performance against budget
216(7)
Divisionalised companies
223(8)
Non-financial performance measures
231(2)
Management use of performance measurement
233(3)
Summary
236(7)
Further reading
236(1)
Self-testing on the chapter
237(1)
Cases for study groups
237(1)
Questions
238(5)
Part 4 Profit, performance and current developments 243(96)
Profit measurement and short-term decision making
245(38)
Introduction
246(1)
Cost behaviour: fixed and variable costs
247(5)
Breakeven analysis
252(4)
Using breakeven analysis
256(3)
Limitations of breakeven analysis
259(1)
Applications of contribution analysis
260(2)
Short-term decision making
262(5)
Pricing decisions
267(3)
Absorption costing and variable costing
270(5)
Dangers of short-termism
275(1)
Summary
276(7)
Further reading
277(1)
Self-testing on the chapter
277(1)
Cases for study groups
278(1)
Questions
279(4)
Capital budgeting
283(32)
Purpose of capital budgeting
284(1)
The role of the management accountant in capital budgeting
285(1)
The assumptions adopted
285(1)
Making a decision on a capital investment
286(1)
Selecting acceptable projects
287(1)
Payback method
288(2)
Accounting rate of return
290(2)
Net present value method
292(6)
Internal rate of return
298(3)
Mutually exclusive projects
301(3)
Which methods are used in practice?
304(1)
Control of investment projects: authorisation and review
305(1)
Advanced manufacturing technologies
306(1)
Summary
307(8)
Further reading
307(1)
Self-testing on the chapter
307(1)
Cases for study groups
308(1)
Questions
308(5)
Supplement: Table of discount factors
313(2)
The frontiers of management accounting
315(24)
Introduction
316(1)
Activity-based costing
317(9)
Total quality management and cost of quality
326(2)
Benchmarking
328(1)
Life-cycle costing
328(1)
Advanced manufacturing technologies
329(3)
Strategic management accounting
332(2)
Business process re-engineering
334(2)
Evolution or revolution?
336(3)
Further reading
336(1)
Self-testing on the chapter
337(1)
Cases for study groups
338(1)
Glossary 339(6)
Appendix Solutions to numerical questions in Management Accounting 345(42)
Index 387

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