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Managerial and Cost Accounting
Managerial Accounting
Professional Certifications in Management Accounting
Planning, Directing, and Controlling
Decision Making
Planning
Strategy
Positioning
Budgets
Directing
Costing
Production
Analysis
Controlling
Monitor
Scorecard
Cost Components
Product Versus Period Costs
Period Costs
Financial Statement Issues that are Unique to Manufacturers
Schedule of Raw Materials
Schedule of Work in Process
Schedule of Cost of Goods Manufactured
Schedule of Cost of Goods Sold
The Income Statement
Reviewing Cost of Flow Concepts for a Manufacturer
Critical Thinking About Cost Flow
Cost-Value-Profit and Business Scalability
Cost Behavior
The Nature of Costs
Variable Costs
Fixed Costs
Business Implications of the Fixed Cost Structure
Economies of Sale
Dialing in Your Business Model
Cost Behavior Analysis
Mixed Costs
High-Low Method
Method of Least Squares
Recap
Break-Even and Target Income
Contribution Margin
Contribution Margin: Aggregated, per Unit, or Ratio?
Graphic Presentation
Break-Even Calculations
Target Income Calculations
Critical Thinking About CVP
Sensitivity Analysis
Changing Fixed Costs
Changing Variable Costs
Blended Cost Shifts
Per Unit Revenue Shifts
Margin Beware
Margin Mathematics
CVP for Multiple Products
Multiple Products, Selling Costs, and Margin Management
Assumptions of CVP
Job Costing and Modern Cost Management Systems
Basic Job Casting Concepts
Cost Data Determination
Conceptualizing Job Costing
Tracking Direct Labor
Tracking Direct Materials
Tracking Overhead
Job Cost Sheets
Expanding the Illustration
Another Expansion of the Illustration
Database Versus Spreadsheets
Moving Beyond the Conceptual Level
Information Systems for the Job Costing Environment
Direct Material
Direct Labor
Overhead and Cost Drivers
Tracking Job Cost Within the Corporate Ledger
Direct Material
Direct Labor
Applied Factory Overhead
Overview
Financial Statement Impact Scenarios
Cost Flows to the Financial Statements
Subsidiary Accounts
Global Trade and Transfers
Accounting for Actual and Applied Overhead
The Factory Overhead Account
Actual Overhead
The Balance of Factory Overhead
Underapplied Overhead
Overapplied Overhead
Influence of GAAP
Job Costing in Service, Not For-Profit, And Governmental Environments
The Service Sector
Capacity Utilization
Modern Management of Costs and Quality
Global Competition
Kaizen
Lean Manufacturing
Just in Time Inventory
Total Quality Management
Six Sigma
Reflection on Modern Cost Management
Process Costing and Activity-Based Costing
Process Costing
Process Costing
Comparing Job and Process Costing
Introduction to the Cost of Production Report
Job Costing Flows
Process Costing Flows
Job Costing Flows on Job Cost Sheets
Equivalent Units
Factors of Production
An Illustration of Equivalent Units Calculations
Cost per Equivalent Unit
Cost Allocation to Completed Units and Units in Process
Cost of Production Report
Journal Entries
Subsequent Departments
The Big Picture
FIFO Process Costing
Activity-Based Costing
Pros of ABC
Cons of ABC
The Reality of ABC
A Closer Look at ABC Concepts
The Steps to Implement ABC
A Simple Analogy
A Case Study in ABC
Study Process and Costs
Identify Activities
Determine Traceable Costs and Allocation Rates
Assign to Activities
Determine Per-Activity Allocation Rates
Apply Costs to Cost Objects
What Just Happened?
A Great Tool, But not a Panacea
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