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Financial and Managerial Accounting

by: WARREN/REEVE/FESS

Financial and Managerial Accounting

by: WARREN/REEVE/FESS

ISBN 13:
9780538873543
ISBN 10:
053887354X
Edition: 6th
Format: Paperback
Copyright: 07/07/1998
Publisher: South-Western College Pub
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Summary

Ideal for first-year accounting courses taught primarily at two- and four-year colleges, this text presents balanced coverage of both financial and managerial topics. The authors refine their proven approach to accounting's expanding role in business. Financial and Managerial Accounting, 7e uses the preparation of financial statements as the framework for understanding what accounting is all about.

1 Introduction to Accounting and Business

(42)

Nature of a Business

(3)

Types of Businesses

(1)

Types of Business Organizations

(1)

Business Stakeholders

(1)

The Role of Accounting in Business

(1)

Business Ethics

(1)

Profession of Accounting

(2)

Private Accounting

(1)

Public Accounting

(1)

Specialized Accounting Fields

(1)

Generally Accepted Accounting Principles

(2)

Business Entity Concept

(1)

The Cost Concept

(1)

Assets, Liabilities, and Owner's Equity

(1)

Business Transactions and the Accounting Equation

(5)

Financial Statements

(3)

Income Statement

(1)

Retained Earnings Statement

(2)

Balance Sheet

(1)

Statement of Cash Flows

(1)

Financial Analysis and Interpretation

(24)

2 Analyzing Transactions

(53)

Usefulness of an Account

(2)

Characteristics of an Account

(1)

Analyzing and Summarizing Transactions in Accounts

(4)

Transactions and Balance Sheet Accounts

(2)

Income Statement Accounts

(1)

Dividends

(1)

Normal Balances of Accounts

(1)

Illustration of Analyzing and Summarizing Transactions

(13)

Trial Balance

(1)

Discovery and Correction of Errors

(2)

Discovery of Errors

(1)

Correction of Errors

(1)

Financial Analysis and Interpretation

(29)

3 The Matching Concept and the Adjusting Process

(37)

The Matching Concept

(1)

Nature of the Adjusting Process

(2)

Recording Adjusting Entries

100

(7)

Deferred Expenses (Prepaid Expenses)

101

(1)

Deferred Revenue (Unearned Revenue)

102

(1)

Accrued Expenses (Accrued Liabilities)

103

(1)

Accrued Revenues (Accrued Assets)

104

(2)

Fixed Assets

106

(1)

Summary of Adjustment Process

107

(4)

Financial Analysis and Interpretation

111

(22)

4 Completing the Accounting Cycle

133

(50)

Work Sheet

134

(4)

Unadjusted Trial Balance Columns

134

(1)

Adjustments Columns

134

(3)

Adjusted Trial Balance Columns

137

(1)

Income Statement and Balance Sheet Columns

137

(1)

Financial Statements

138

(5)

Income Statement

139

(1)

Retained Earnings Statement

139

(2)

Balance Sheet

141

(2)

Adjusting and Closing Entries

143

(8)

Journalizing and Posting Closing Entries

144

(6)

Post-Closing Trial Balance

150

(1)

Fiscal Year

151

(1)

Accounting Cycle

152

(1)

Financial Analysis and Interpretation

152

(2)

Appendix: Reversing Entries

154

(22)

Comprehensive Problem I

176

(7)

5 Accounting for Merchandising Businesses

183

(48)

Nature of Merchandising Businesses

184

(1)

Accounting for Purchases

185

(4)

Purchases Discounts

186

(2)

Purchases Returns and Allowances

188

(1)

Accounting for Sales

189

(4)

Cash Sales

189

(1)

Sales on Account

190

(1)

Sales Discounts

191

(1)

Sales Returns and Allowances

191

(1)

Sales Taxes

192

(1)

Trade Discounts

193

(1)

Transportation Costs

193

(2)

Illustration of Accounting for Merchandise Transactions

195

(1)

Chart of Accounts for a Merchandising Business

196

(1)

Income Statement for a Merchandising Business

197

(3)

Multiple-Step Form

198

(2)

Single-Step Form

200

(1)

The Accounting Cycle for a Merchandising Business

200

(3)

Merchandising Inventory Shrinkage

201

(1)

Work Sheet

201

(1)

Retained Earnings Statement

201

(1)

Balance Sheet

202

(1)

Closing Entries

203

(1)

Financial Analysis and Interpretation

203

(1)

Appendix: Work Sheet and Adjusting and Closing Entries for a Merchandising Business

204

(1)

Comprehensive Problem 2

225

(6)

Practice Set: Hazzard Travel This set involves maintaining an accounting system for the first two months of operations of a small business. The operating, financing, and investing decisions made in completing the set result in different financial out comes. The set can be solved manually or with the General Ledger Software.

6 Accounting Systems, Internal Controls, and Cash

231

(46)

Basic Accounting Systems

232

(1)

Computerized Accounting Systems

233

(3)

Computer Hardware Basics

233

(1)

Computer Software Basics

234

(1)

Computerized System: An Illustration of the Revenue and Collection Cycle

234

(2)

Internal Control

236

(5)

Objectives of Internal Control

236

(1)

Elements of Internal Control

237

(4)

Nature of Cash and the Importance of Controls Over Cash

241

(1)

Control of Cash Receipts

242

(1)

Controlling Cash Received from Cash Sales

242

(1)

Controlling Cash Received in the Mail

243

(1)

Internal Control of Cash Payments

243

(3)

Basic Features of the Voucher System

244

(1)

Electronic Funds Transfer

245

(1)

Bank Accounts: Their Nature and Use as a Control Over Cash

246

(3)

Business Bank Accounts

246

(1)

Bank Statement

247

(1)

Bank Accounts as a Control Over Cash

248

(1)

Bank Reconciliation

249

(3)

Petty Cash

252

(2)

Presentation of Cash on the Balance Sheet

254

(1)

Financial Analysis and Interpretation

254

(17)

QuickBooks Problem I: Revenues and Collections

271

(1)

QuickBooks Problem II: Purchases and Payments

272

(5)

7 Receivables

277

(33)

Classification of Receivables

278

(1)

Accounts Receivable

278

(1)

Notes Receivable

278

(1)

Other Receivables

279

(1)

Internal Control of Receivables

279

(1)

Uncollectible Receivables

280

(1)

Allowance Method of Accounting for Uncollectibles

281

(4)

Write-Offs to the Allowance Account

282

(1)

Estimating Uncollectibles

283

(2)

Direct-Write-Off Method of Accounting for Uncollectibles

285

(1)

Characteristics of Notes Receivable

286

(2)

Due Date

287

(1)

Interest

287

(1)

Maturity Value

288

(1)

Accounting for Notes Receivable

288

(1)

Receivables on the Balance Sheet

289

(1)

Financial Analysis and Interpretation

290

(2)

Appendix: Discounting Notes Receivable

292

(14)

QuickBooks Problem: Aging of Accounts Receivable

306

(4)

8 Inventories

310

(38)

Internal Control of Inventories

311

(2)

Effect of Inventory Errors on Financial Statements

313

(1)

Inventory Cost Flow Assumptions

314

(3)

Inventory Costing Methods Under a Perpetual Inventory System

317

(3)

First-In, First-Out Method

317

(1)

Last-In, First-Out Method

318

(1)

Average Cost Method

319

(1)

Computerized Perpetual Inventory Systems

319

(1)

Inventory Costing Methods Under a Periodic Inventory System

320

(3)

First-In, First-Out Method

321

(1)

Last-In, First-Out Method

322

(1)

Average Cost Method

322

(1)

Comparing Inventory Costing Methods

323

(1)

Use of the First-In, First-Out Method

323

(1)

Use of the Last-in, First-Out Method

324

(1)

Use of the Average Cost Method

324

(1)

Valuation of Inventory at Other Than Cost

324

(2)

Valuation at Lower of Cost or Market

325

(1)

Valuation at Net Realizable Value

325

(1)

Presentation of Merchandise Inventory on the Balance Sheet

326

(1)

Estimating Inventory Cost

326

(2)

Retail Method of Inventory Costing

326

(1)

Gross Profit Method of Estimating Inventories

327

(1)

Financial Analysis and Interpretation

328

(20)

9 Fixed Assets and Intangible Assets

348

(39)

Nature of Fixed Assets

349

(3)

Costs of Acquiring Fixed Assets

349

(2)

Nature of Depreciation

351

(1)

Accounting for Depreciation

352

(5)

Straight-Line Method

353

(1)

Units-of-Production Method

353

(1)

Declining-Balance Method

354

(1)

Comparing Depreciation Methods

355

(1)

Depreciation for Federal Income Tax

355

(1)

Revising Depreciation Estimates

356

(1)

Composite-Rate Method

357

(1)

Capital and Revenue Expenditures

357

(2)

Types of Capital Expenditures

357

(1)

Summary of Capital and Revenue Expenditures

358

(1)

Disposal of Fixed Assets

359

(4)

Discarding Fixed Assets

359

(1)

Selling Fixed Assets

360

(1)

Exchanging Similar Fixed Assets

360

(3)

Leasing Fixed Assets

363

(1)

Internal Control of Fixed Assets

363

(1)

Natural Resources

364

(1)

Intangible Assets

365

(1)

Patents

365

(1)

Copyrights and Trademarks

365

(1)

Goodwill

366

(1)

Financial Reporting for Fixed Assets and Intangible Assets

366

(1)

Financial Analysis and Interpretation

367

(1)

Appendix: Sum-of-the-Years-Digits Depreciation

368

(19)

10 Current Liabilities

387

(44)

The Nature of Current Liabilities

388

(1)

Short-Term Notes Payable

388

(2)

Contingent Liabilities

390

(2)

Payroll and Payroll Taxes

392

(5)

Liability for Employee Earnings

392

(1)

Deductions from Employee Earnings

393

(3)

Computing Employee Net Pay

396

(1)

Liability for Employer's Payroll Taxes

396

(1)

Accounting Systems for Payroll and Payroll Taxes

397

(8)

Payroll Register

398

(2)

Employee's Earnings Record

400

(1)

Payroll Checks

401

(1)

Payroll System Diagram

401

(1)

Internal Controls for Payroll Systems

402

(3)

Employees' Fringe Benefits

405

(2)

Vacation Pay

405

(1)

Pensions

406

(1)

Postretirement Benefits Other than Pensions

407

(1)

Financial Analysis and Interpretation

407

(17)

QuickBooks Problem: Payroll

424

(1)

Comprehensive Problem 3

425

(6)

11 Corporations: Organization, Capital Stock Transactions, and Dividends

431

(32)

Nature of a Corporation

432

(2)

Characteristics of a Corporation

432

(1)

Forming a Corporation

433

(1)

Sources of Paid-In Capital

434

(3)

Stock

434

(3)

Other Sources of Paid-In Capital

437

(1)

Issuing Stock

437

(3)

Premium on Stock

439

(1)

No-Par Stock

439

(1)

Treasury Stock Transactions

440

(1)

Stock Splits

441

(1)

Accounting for Dividends

442

(3)

Cash Dividends

442

(2)

Stock Dividends

444

(1)

Financial Analysis and Interpretation

445

(18)

12 Corporations: Income and Taxes, Stockholders' Equity, and Investments in Stocks

463

(39)

Corporate Income Taxes

464

(3)

Payment of Income Taxes

464

(1)

Allocation of Income Taxes

465

(2)

Unusual Items that Affect the Income Statement

467

(2)

Discontinued Operations

468

(1)

Extraordinary Items

468

(1)

Changes in Accounting Principles

469

(1)

Earnings per Common Share

469

(2)

Reporting Stockholders' Equity

471

(2)

Reporting Paid-In Capital

471

(1)

Reporting Retained Earnings

472

(1)

Statement of Stockholders' Equity

473

(1)

Comprehensive Income

473

(1)

Accounting for Investments in Stocks

474

(5)

Short-Term Investments in Stocks

474

(2)

Long-Term Investments in Stocks

476

(2)

Sale of Investments in Stocks

478

(1)

Business Combinations

479

(2)

Mergers and Consolidations

479

(1)

Parent and Subsidiary Corporations

479

(1)

Consolidated Financial Statements

480

(1)

Financial Analysis and Interpretation

481

(21)

Practice Set: First Designs Inc. This set is a departmentalized merchandising business operated as a corporation. It includes a narrative of transactions, and can be solved manually or with the General Ledger Software.

Practice Set: SEMO Sporting Goods Supply Inc. This set is a wholesaling business operated as a corporation. It requires manual correcting entries and financial statements.

13 Bonds Payable and Investments in Bonds

502

(131)

Financing Corporations

503

(2)

Characteristics of Bonds Payable

505

(1)

The Present-Value Concept and Bonds Payable

505

(4)

Present Value of the Face Amount of Bonds

507

(1)

Present Value of the Periodic Bond Interest Payments

508

(1)

Accounting for Bonds Payable

509

(4)

Bonds Issued at Face Amount

509

(2)

Bonds Issued at a Discount

511

(1)

Amortizing a Bond Discount

511

(1)

Bonds Issued at a Premium

512

(1)

Amortizing a Bond Premium

512

(1)

Zero-Coupon Bonds

513

(1)

Bond Sinking Funds

513

(1)

Bond Redemption

514

(1)

Investments in Bonds

515

(1)

Accounting for Bond Investments--Purchase, Interest, and Amortization

515

(2)

Accounting for Bond Investments--Sale

517

(1)

Corporation Balance Sheet

516

(4)

Balance Sheet Presentation of Bonds Payable

518

(2)

Balance Sheet Presentation of Bond Investments

520

(1)

Financial Analysis and Interpretation

520

(1)

Appendix: Effective Interest Rate Method of Amortization

521

(16)

Amortization of Discount by the Interest Method

522

(1)

Amortization of Premium by the Interest Method

523

(14)

Comprehensive Problem 4

537

(5)

Practice Set: Electronic Play Inc. This set is a Merchandising business operated as a corporation. It includes a narrative of transactions, which are to be recorded in a general journal. It can be solved manually or with the General Ledger Software.

Statement of Cash Flows

542

(1)

Purpose of the Statement of Cash Flows

543

(1)

Reporting Cash Flows

543

(4)

Cash Flows from Operating Activities

544

(1)

Cash Flows from Investing Activities

545

(1)

Cash Flows from Financing Activities

546

(1)

Noncash Investing and Financing Activities

546

(1)

No Cash Flow per Share

547

(1)

Statement of Cash Flows--The Indirect Method

547

(8)

Retained Earnings

548

(4)

Common Stock

552

(1)

Bonds Payable

552

(1)

Building

553

(1)

Land

553

(1)

Preparing the Statement of Cash Flows

554

(1)

Statement of Cash Flows--The Direct Method

555

(4)

Cash Received from Customers

556

(1)

Cash Payments for Merchandise

556

(1)

Cash Payments for Operating Expenses

557

(1)

Gain on Sale of Land

557

(1)

Interest Expense

557

(1)

Cash Payments for Income Taxes

558

(1)

Reporting Cash Flows from Operating Activities--Direct Method

558

(1)

Financial Analysis and Interpretation

559

(2)

Appendix: Work Sheet for Statement of Cash Flows

561

(30)

Work Sheet--Indirect Method

561

(2)

Work Sheet--Direct Method

563

(28)

Financial Statement Analysis

591

(1)

Basic Analytical Procedures

592

(5)

Horizontal Analysis

592

(3)

Vertical Analysis

595

(1)

Common-Size Statements

596

(1)

Other Analytical Measures

596

(1)

Solvency Analysis

597

(6)

Current Position Analysis

598

(1)

Accounts Receivable Analysis

599

(1)

Inventory Analysis

600

(1)

Ratio of Fixed Assets to Long-Term Liabilities

601

(1)

Ratio of Liabilities to Stockholders' Equity

602

(1)

Number of Times Interest Charges Earned

602

(1)

Profitability Analysis

603

(5)

Ratio of Net Sales to Assets

603

(1)

Rate Earned on Total Assets

604

(1)

Rate Earned on Stockholders' Equity

604

(1)

Rate Earned on Common Stockholders' Equity

605

(1)

Earnings per Share on Common Stock

606

(1)

Price-Earnings Ratio

606

(1)

Dividends per Share and Dividend Yield

607

(1)

Summary of Analytical Measures

608

(1)

Corporate Annual Reports

609

(20)

Financial Highlights

609

(1)

President's Letter to the Stockholders

610

(1)

Management Report

610

(1)

Independent Auditors' Report

610

(1)

Historical Summary

610

(1)

Other Information

610

(19)

Hershey's Food Corporation Problem: Financial Statement Analysis

629

(1)

QuickBooks Problem: Vertical Analysis

630

(3)

14 Introduction to Managerial Accounting and Job Order Cost Systems

633

(47)

The Differences Between Managerial and Financial Accounting

634

(1)

The Management Accountant in the Organization

635

(2)

Manufacturing Cost Terms

637

(2)

Materials

638

(1)

Factory Labor

638

(1)

Factory Overhead Cost

638

(1)

Cost Accounting System Overview

639

(1)

Job Order Cost Systems for Manufacturing Businesses

640

(11)

Materials

641

(1)

Factory Labor

642

(2)

Factory Overhead Cost

644

(3)

Work in Process

647

(1)

Finished Goods and Cost of Goods Sold

648

(1)

Sales

648

(1)

Period Costs

649

(1)

Summary of Cost Flows for Goodwell Printers

649

(2)

Job Order Costing for Decision Making

651

(1)

Job Order Cost Systems for Service Businesses

652

(2)

Appendix: Computerized Job Order Costing

654

(21)

QuickBooks Problem (Appendix): Job Order Cost System

675

(5)

Practice Set: Sunblaze Inc. This set is a manufacturing business operated as a corporation that uses a job order cost system. It can be solved manually or with the General Ledger Software.

15 Process Cost Systems

680

(34)

Comparing Job Order Costing and Process Costing

681

(1)

Physical Flows and Cost Flows for a Process Manufacturer

682

(2)

The First-In, First-Out (Fifo) Method

684

(6)

Step 1: Determine the Units To Be Assigned Costs

685

(1)

Step 2: Calculate Equivalent Units of Production

686

(2)

Step 3: Determine the Cost per Equivalent Unit

688

(1)

Step 4: Allocate Costs to Transferred and Partially Completed Units

689

(1)

Bringing It All Together: The Cost of Production Report

690

(1)

Journal Entries for a Process Cost System

691

(2)

Using the Cost of Production Report for Decision Making

693

(1)

Just-In-Time Processing

694

(20)

16 Cost Behavior and Cost-Volume-Profit Analysis

714

(42)

Cost Behavior

715

(5)

Variable Costs

715

(2)

Fixed Costs

717

(1)

Mixed Costs

717

(2)

Summary of Cost Behavior Concepts

719

(1)

Reporting Variable and Fixed Costs

720

(1)

Cost-Volume-Profit Relationships

720

(3)

Contribution Margin Concept

720

(3)

Mathematical Approach to Cost-Volume-Profit Analysis

723

(4)

Break-Even Point

723

(3)

Target Profit

726

(1)

Graphic Approach to Cost-Volume-Profit Analysis

727

(4)

Cost-Volume-Profit (Break-Even) Chart

727

(1)

Profit-Volume Chart

728

(2)

Use of Computers in Cost-Volume-Profit Analysis

730

(1)

Sales Mix Considerations

731

(2)

Special Cost-Volume-Profit Relationships

733

(2)

Margin of Safety

733

(1)

Operating Leverage

733

(2)

Assumptions of Cost-Volume-Profit Analysis

735

(21)

17 Profit Reporting for Management Analysis

756

(39)

The Income Statement Under Variable Costing and Absorption Costing

757

(4)

Income from Operations When Units Manufactured Equal Units Sold

758

(1)

Income from Operations When Units Manufactured Exceed Units Sold

759

(1)

Income from Operations When Units Manufactured Are Less Than Units Sold

759

(2)

Comparing Income from Operations Under Two Concepts

761

(1)

Income Analysis Under Variable Costing and Absorption Costing

761

(1)

Management's Use of Variable Costing and Absorption Costing

761

(34)

Controlling Costs

764

(1)

Pricing Products

765

(1)

Planning Production

766

(1)

Analyzing Market Segments

766

(4)

Analyzing Contribution Margins

770

(25)

18 Budgeting

795

(46)

Nature and Objectives of Budgeting

796

(4)

Objectives of Budgeting

796

(2)

Human Behavior and Budgeting

798

(2)

Budgeting Systems

800

(3)

Static Budget

801

(1)

Flexible Budget

801

(1)

Computerized Budgeting Systems

802

(1)

Master Budget

803

(1)

Income Statement Budgets

804

(7)

Sales Budget

804

(1)

Production Budget

805

(1)

Direct Materials Purchases Budget

806

(1)

Direct Labor Cost Budget

806

(2)

Factory Overhead Cost Budget

808

(1)

Cost of Goods Sold Budget

808

(1)

Selling and Administrative Expenses Budget

809

(1)

Budgeted Income Statement

810

(1)

Balance Sheet Budgets

811

(26)

Cash Budget

811

(3)

Capital Expenditures Budget

814

(1)

Budgeted Balance Sheet

815

(2)

QuickBooks Problems

837

(4)

19 Performance Evaluation Using Variances from Standard Costs

841

(34)

Standards

842

(2)

Setting Standards

842

(1)

Types of Standards

843

(1)

Reviewing and Revising Standards

843

(1)

Support and Criticism of Standards

844

(1)

Budgetary Performance Evaluation

844

(2)

Direct Materials Variances

846

(2)

Direct Materials Price Variance

847

(1)

Direct Materials Quantity Variance

847

(1)

Direct Materials Variance Relationships

847

(1)

Reporting Direct Materials Variances

848

(1)

Direct Labor Variances

848

(2)

Direct Labor Rate Variance

849

(1)

Direct Labor Time Variance

849

(1)

Direct Labor Variance Relationships

849

(1)

Reporting Direct Labor Variances

850

(1)

Factory Overhead Variances

850

(5)

The Factory Overhead Flexible Budget

851

(1)

Variable Factory Overhead Controllable Variance

852

(1)

Fixed Factory Overhead Volume Variance

852

(2)

Reporting Factory Overhead Variances

854

(1)

Recording and Reporting Variances from Standards

855

(1)

Standards for Nonmanufacturing Expenses

856

(1)

Nonfinancial Performances Measures

857

(18)

20 Performance Evaluation for Decentralized Operations

875

(38)

Centralized and Decentralized Operations

876

(2)

Advantages of Decentralization

876

(1)

Disadvantages of Decentralization

877

(1)

Responsibility Accounting

877

(1)

Responsibility Accounting for Cost Centers

878

(2)

Responsibility Accounting for Profit Centers

880

(3)

Service Department Charges

880

(3)

Profit Center Reporting

883

(1)

Responsibility Accounting for Investment Centers

883

(6)

Rate of Return on Investment

884

(3)

Residual Income

887

(1)

Nonfinancial Divisional Performance Measurement

888

(1)

Transfer Pricing

889

(24)

Market Price Approach

889

(1)

Negotiated Price Approach

890

(2)

Cost Price Approach

892

(21)

21 Differential Analysis and Product Pricing

913

(35)

Differential Analysis

914

(8)

Lease or Sell

915

(1)

Discontinue a Segment or Product

916

(2)

Make or Buy

918

(1)

Replace Equipment

919

(1)

Process or Sell

920

(1)

Accept Business at a Special Price

921

(1)

Setting Normal Product Selling Prices

922

(6)

Total Cost Concept

923

(1)

Product Cost Concept

924

(1)

Variable Cost Concept

925

(1)

Choosing a Cost-Plus Approach Cost Concept

926

(2)

Activity-Based Costing

928

(1)

Product Profitability and Pricing Under Production Bottlenecks

928

(20)

Product Profitability Under Production Bottlenecks

928

(1)

Product Pricing Under Production Bottlenecks

929

(19)

22 Capital Investment Analysis

948

(33)

Nature of Capital Investment Analysis

949

(1)

Methods of Evaluating Capital Investment Proposals

949

(10)

Methods that Ignore Present Value

950

(2)

Present Value Methods

952

(7)

Factors that Complicate Capital Investment Analysis

959

(3)

Income Tax

959

(1)

Unequal Proposal Lives

959

(2)

Lease Versus Capital Investment

961

(1)

Uncertainty

961

(1)

Changes in Price Levels

961

(1)

Qualitative Considerations

961

(1)

Capital Rationing

962

(19)

23 Cost Allocation and Activity-Based Costing

981

(39)

Product Costing Allocation Methods

982

(1)

Single Plantwide Factory Overhead Rate Method

983

(1)

Multiple Production Department Factory Overhead Rate Method

984

(4)

Production Department Factory Overhead Rates and Allocation

985

(2)

Distortion in Product Costs--Single Plantwide vs. Multiple Production Department Factory Overhead Rates

987

(1)

Activity-Based Costing Method

988

(5)

Activity Rates and Allocation

989

(3)

Distortion in Product Costs--Multiple Production Department Factory Overhead Rate Method vs. Activity-Based Costing

992

(1)

The Dangers of Product Cost Distortions

992

(1)

Activity-Based Costing for Selling and Administrative Expenses

993

(1)

Activity-Based Costing in Service Businesses

994

(26)

24 Cost Management for Just-in-Time Manufacturers

1020

Just-in-Time Principles

1021

(6)

Reducing Inventory

1022

(1)

Reducing Lead Times

1022

(2)

Reducing Setup Time

1024

(2)

Emphasizing Product-Oriented Layout

1026

(1)

Emphasizing Employee Involvement

1026

(1)

Emphasizing Pull Manufacturing

1027

(1)

Emphasizing Zero Defects

1027

(1)

Emphasizing Supplier Partnering

1027

(1)

Applying Just-in-Time Approach to Anderson Metal Fabricators

1027

(3)

Traditional Operations--AMF

1028

(1)

Just-in-Time Operations--AMF

1028

(2)

Accounting for Just-in-Time Operations

1030

(3)

Fewer Transactions

1030

(1)

Combined Accounts

1031

(1)

Nonfinancial Performance Measures

1032

(1)

Direct Tracing of Overhead

1033

(1)

Accounting for the Costs of Quality

1033

Costs of Controlling Quality

1033

(1)

Costs of Failing to Control Quality

1034

(1)

The Relationship Between the Costs of Quality

1034

(1)

Determining the Costs of Quality

1035

(1)

Pareto Chart

1036

(1)

Cost of Quality Report

1036

(1)

Value-Added/Nonvalue-Added Activity Analysis

1037

Appendix A: Interest Tables

A-2

Appendix B: Codes of Professional Ethics

B-1

Appendix C: Alternative Methods of Recording Deferrals

C-1

Appendix D: Special Journals and Subsidiary Ledgers

D-1

Appendix E: Periodic Inventory Systems for Merchandising Businesses

E-1

Appendix F: Foreign Currency Transactions

F-1

Appendix G: Hershey Foods Corporation Annual Report

G-1

Glossary

GL-1

Subject Index

SI-1

Company Index

CI-1

Index of Web Site Addresses

WI-1

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Financial and Managerial Accounting

Financial and Managerial Accounting

9780538873543

053887354X

Summary

Table of Contents

Supplemental Materials

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Amazon no longer offers textbook rentals. We do!

Financial and Managerial Accounting

Financial and Managerial Accounting

9780538873543

053887354X

Summary

Table of Contents

Supplemental Materials

Write a Review

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