Rent 9780324188028 | Managerial Accounting | Warren,Carl S. @knetbooks.com

Summary Table of Contents Author Biography

Don't manage with anything less ? than the new edition of this managerial text from the authors of ACCOUNTING, 21st Edition, the most successful college educational product of all time. MANAGERIAL ACCOUNTING, 8th Edition combines basic concepts with a heavy dose of the real world to build the skills for effective management.

Introduction to Managerial Accounting and Job Order Cost Systems	p. 1
The Differences Between Managerial and Financial Accounting	p. 2
The Management Accountant in the Organization	p. 4
Manufacturing Cost Terms	p. 5
Materials	p. 5
Factory Labor	p. 6
Factory Overhead Cost	p. 7
Cost Accounting System Overview	p. 7
Job Order Cost System... MOREs for Manufacturing Businesses	p. 8
Materials	p. 9
Factory Labor	p. 10
Factory Overhead Cost	p. 12
Work in Process	p. 15
Finished Goods and Cost of Goods Sold	p. 16
Sales	p. 17
Period Costs	p. 17
Summary of Cost Flows for Goodwell Printers	p. 18
Job Order Costing for Decision Making	p. 18
Job Order Cost Systems for Professional Service Businesses	p. 21
Practice Set: Sunblaze Inc.
Process Cost Systems	p. 51
Comparing Job Order Costing and Process Costing	p. 52
Physical Flows and Cost Flows for a Process Manufacturer	p. 53
The First-In, First-Out (Fifo) Method	p. 55
Determine the Units to Be Assigned Costs	p. 56
Calculate Equivalent Units of Production	p. 57
Determine the Cost per Equivalent Unit	p. 59
Allocate Costs to Transferred and Partially Completed Units	p. 60
Bringing It All Together: The Cost of Production Report	p. 61
Journal Entries for a Process Cost System	p. 62
Using the Cost of Production Report for Decision Making	p. 64
Just-in-Time Processing	p. 65
Cost Behavior and Cost-Volume-Profit Analysis	p. 87
Cost Behavior	p. 88
Variable Costs	p. 88
Fixed Costs	p. 90
Mixed Costs	p. 90
Summary of Cost Behavior Concepts	p. 93
Reporting Variable and Fixed Costs	p. 94
Cost-Volume-Profit Relationships	p. 94
Contribution Margin Concept	p. 94
Mathematical Approach to Cost-Volume-Profit Analysis	p. 96
Break-Even Point	p. 97
Target Profit	p. 100
Graphic Approach to Cost-Volume-Profit Analysis	p. 101
Cost-Volume-Profit (Break-Even) Chart	p. 101
Profit-Volume Chart	p. 103
Use of Computers in Cost-Volume-Profit Analysis	p. 104
Sales Mix Considerations	p. 105
Special Cost-Volume-Profit Relationships	p. 107
Margin of Safety	p. 107
Operating Leverage	p. 107
Assumptions of Cost-Volume-Profit Analysis	p. 108
Profit Reporting for Management Analysis	p. 131
The Income Statement Under Variable Costing and Absorption Costing	p. 132
Income from Operations When Units Manufactured Equal Units Sold	p. 134
Income from Operations When Units Manufactured Exceed Units Sold	p. 134
Income from Operations When Units Manufactured Are Less Than Units Sold	p. 135
Comparing Income from Operations Under the Two Concepts	p. 136
Income Analysis Under Variable Costing and Absorption Costing	p. 137
Management's Use of Variable Costing and Absorption Costing	p. 139
Controlling Costs	p. 139
Pricing Products	p. 140
Planning Production	p. 141
Analyzing Market Segments	p. 141
Analyzing Contribution Margins	p. 145
Budgeting	p. 173
Nature and Objectives of Budgeting	p. 174
Objectives of Budgeting	p. 174
Human Behavior and Budgeting	p. 176
Budgeting Systems	p. 177
Static Budget	p. 178
Flexible Budget	p. 179
Computerized Budgeting Systems	p. 180
Master Budget	p. 181
Income Statement Budgets	p. 181
Sales Budget	p. 182
Production Budget	p. 183
Direct Materials Purchases Budget	p. 184
Direct Labor Cost Budget	p. 185
Factory Overhead Cost Budget	p. 185
Cost of Goods Sold Budget	p. 186
Selling and Administrative Expenses Budget	p. 187
Budgeted Income Statement	p. 187
Balance Sheet Budgets	p. 188
Cash Budget	p. 188
Capital Expenditures Budget	p. 191
Budgeted Balance Sheet	p. 192
Performance Evaluation Using Variances from Standard Costs	p. 221
Standards	p. 222
Setting Standards	p. 222
Types of Standards	p. 223
Reviewing and Revising Standards	p. 223
Support and Criticism of Standards	p. 224
Budgetary Performance Evaluation	p. 224
Direct Materials Variances	p. 226
Direct Materials Price Variance	p. 227
Direct Materials Quantity Variance	p. 227
Direct Materials Variance Relationships	p. 227
Reporting Direct Materials Variances	p. 227
Direct Labor Variances	p. 228
Direct Labor Rate Variance	p. 229
Direct Labor Time Variance	p. 229
Direct Labor Variance Relationships	p. 229
Reporting Direct Labor Variances	p. 229
Factory Overhead Variances	p. 230
The Factory Overhead Flexible Budget	p. 231
Variable Factory Overhead Controllable Variance	p. 232
Fixed Factory Overhead Volume Variance	p. 232
Reporting Factory Overhead Variances	p. 234
Recording and Reporting Variances from Standards	p. 235
Standards for Nonmanufacturing Expenses	p. 236
Nonfinancial Performance Measures	p. 237
Performance Evaluation for Decentralized Operations	p. 257
Centralized and Decentralized Operations	p. 258
Advantages of Decentralization	p. 258
Disadvantages of Decentralization	p. 259
Responsibility Accounting	p. 260
Responsibility Accounting for Cost Centers	p. 260
Responsibility Accounting for Profit Centers	p. 262
Service Department Charges	p. 262
Profit Center Reporting	p. 265
Responsibility Accounting for Investment Centers	p. 265
Rate of Return on Investment	p. 266
Residual Income	p. 269
The Balanced Scorecard	p. 270
Transfer Pricing	p. 271
Market Price Approach	p. 272
Negotiated Price Approach	p. 273
Cost Price Approach	p. 274
Differential Analysis and Product Pricing	p. 299
Differential Analysis	p. 300
Lease or Sell	p. 301
Discontinue a Segment or Product	p. 302
Make or Buy	p. 304
Replace Equipment	p. 305
Process or Sell	p. 306
Accept Business at a Special Price	p. 307
Setting Normal Product Selling Prices	p. 308
Total Cost Concept	p. 309
Product Cost Concept	p. 310
Variable Cost Concept	p. 311
Choosing a Cost-Plus Approach Cost Concept	p. 312
Activity-Based Costing	p. 313
Product Profitability and Pricing Under Production Bottlenecks	p. 314
Product Profitability Under Production Bottlenecks	p. 314
Product Pricing Under Production Bottlenecks	p. 315
Capital Investment Analysis	p. 335
Nature of Capital Investment Analysis	p. 336
Methods of Evaluating Capital Investment Proposals	p. 337
Methods That Ignore Present Value	p. 337
Present Value Methods	p. 339
Factors That Complicate Capital Investment Analysis	p. 346
Income Tax	p. 346
Unequal Proposal Lives	p. 346
Lease versus Capital Investment	p. 346
Uncertainty	p. 347
Changes in Price Levels	p. 348
Qualitative Considerations	p. 348
Capital Rationing	p. 348
Cost Allocation and Activity-Based Costing	p. 369
Product Costing Allocation Methods	p. 370
Single Plantwide Factory Overhead Rate Method	p. 371
Multiple Production Department Factory Overhead Rate Method	p. 373
Production Department Factory Overhead Rates and Allocation	p. 374
Distortion in Product Costs--Single Plantwide versus Multiple Production Department Factory Overhead Rates	p. 375
Activity-Based Costing Method	p. 376
Activity Rates and Allocation	p. 378
Distortion in Product Costs--Multiple Production Department Factory Overhead Rate Method versus Activity-Based Costing	p. 380
The Dangers of Product Cost Distortion	p. 381
Activity-Based Costing for Selling and Administrative Expenses	p. 381
Activity-Based Costing in Service Businesses	p. 383
Cost Management for Just-in-Time Environments	p. 411
Just-in-Time Principles	p. 412
Reducing Inventory	p. 413
Reducing Lead Times	p. 413
Reducing Setup Time	p. 414
Emphasizing Product-Oriented Layout	p. 416
Emphasizing Employee Involvement	p. 417
Emphasizing Pull Manufacturing	p. 417
Emphasizing Zero Defect	p. 418
Emphasizing Supplier Partnering	p. 418
Applying a Just-in-Time Approach to Anderson Metal Fabricators	p. 418
Traditional Operations--AMF	p. 418
Just-in-Time Operations--AMF	p. 419
Accounting for Just-in-Time Operations	p. 421
Fewer Transactions	p. 421
Combined Accounts	p. 421
Nonfinancial Performance Measures	p. 423
Direct Tracing of Overhead	p. 423
Just-in-Time for Service Processes	p. 423
Accounting for the Costs of Quality	p. 425
Costs of Controlling Quality	p. 426
Costs of Failing to Control Quality	p. 426
The Relationship Between the Costs of Quality	p. 426
Determining the Costs of Quality	p. 427
Pareto Chart	p. 427
Cost of Quality Report	p. 429
Value-Added/Nonvalue-Added Activity Analysis	p. 429
Statement of Cash Flows	p. 447
Purpose of the Statement of Cash Flows	p. 448
Reporting Cash Flows	p. 448
Cash Flows from Operating Activities	p. 450
Cash Flows from Investing Activities	p. 450
Cash Flows from Financing Activities	p. 451
Noncash Investing and Financing Activities	p. 451
No Cash Flow per Share	p. 452
Statement of Cash Flows--The Indirect Method	p. 452
Retained Earnings	p. 453
Common Stock	p. 458
Bonds Payable	p. 458
Building	p. 458
Land	p. 459
Preparing the Statement of Cash Flows	p. 460
Statement of Cash Flows--The Direct Method	p. 461
Cash Received from Customers	p. 462
Cash Payments for Merchandise	p. 462
Cash Payments for Operating Expenses	p. 463
Gain on Sale of Land	p. 463
Interest Expense	p. 464
Cash Payments for Income Taxes	p. 464
Reporting Cash Flows from Operating Activities--Direct Method	p. 464
Financial Analysis and Interpretation	p. 465
Work Sheet for Statement of Cash Flows	p. 467
Work Sheet--Indirect Method	p. 467
Work Sheet--Direct Method	p. 469
Financial Statement Analysis	p. 499
Basic Analytical Procedures	p. 500
Horizontal Analysis	p. 500
Vertical Analysis	p. 503
Common-Size Statements	p. 503
Other Analytical Measures	p. 505
Solvency Analysis	p. 505
Current Position Analysis	p. 506
Accounts Receivable Analysis	p. 508
Inventory Analysis	p. 509
Ratio of Fixed Assets to Long-Term Liabilities	p. 510
Ratio of Liabilities to Stockholders' Equity	p. 510
Number of Times Interest Charges Earned	p. 511
Profitability Analysis	p. 511
Ratio of Net Sales to Assets	p. 511
Rate Earned on Total Assets	p. 512
Rate Earned on Stockholders' Equity	p. 513
Rate Earned on Common Stockholders' Equity	p. 513
Earnings per Share on Common Stock	p. 515
Price-Earnings Ratio	p. 515
Dividends per Share and Dividend Yield	p. 515
Summary of Analytical Measures	p. 516
Corporate Annual Reports	p. 518
Financial Highlights	p. 518
President's Letter to the Stockholders	p. 518
Management Discussion and Analysis	p. 518
Independent Auditors' Report	p. 519
Historical Summary	p. 519
Interest Tables	p. 2
Codes of Professional Ethics for Accountants	p. 1
Cisco Systems, Inc., Annual Report	p. 1
Glossary	p. 1
Subject Index	p. 1
Company Index	p. 1
Table of Contents provided by Syndetics. All Rights Reserved.

Dr. Carl S. Warren is the Arthur Andersen and Co. Alumni Professor of Accounting at the J.M. Tull School of Accounting at the University of Georgia, Athens Dr. James M. Reeve is Professor of Accounting at the University of Tennessee, Knoxville Dr. Philip E. Fess is the Arthur Andersen and Co. Alumni Professor of Accountancy Emeritus at the University of Illinois, Champaign-Urbana

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