Cost accounting for dummies
Take control of overhead, budgeting, and profitability with cost accounting Cost accounting is one of the most important skills in business, and its popularity as a course in undergraduate and graduate business and management programs speaks to its usefulness. But if you've ever felt intimidate...
| Otros Autores: | |
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| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
Hoboken, NJ :
John Wiley & Sons, Inc
[2022]
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| Edición: | Second edition |
| Colección: | --For dummies.
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| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009724228506719 |
Tabla de Contenidos:
- Intro
- Title Page
- Copyright Page
- Table of Contents
- Introduction
- About This Book
- Foolish Assumptions
- Icons Used in This Book
- Beyond the Book
- Where to Go from Here
- Part 1 Understanding the Fundamentals of Costs
- Chapter 1 So You Want to Know about Cost Accounting
- Comparing Accounting Methods
- Considering your shareholders
- Mulling over creditors
- Addressing concerns of regulators
- Using management accounting
- Fitting in cost accounting
- Using Cost Accounting to Your Advantage
- Starting with cost-benefit analysis
- Planning your work: Budgeting
- Controlling your costs
- Setting a price
- Improving going forward
- Chapter 2 Brushing Up on Cost Accounting Basics
- Understanding the Big Four Terms
- Comparing direct and indirect costs
- Mulling over fixed and variable costs
- Fitting the costs together
- Covering Costs in Different Industries
- Reviewing manufacturing costs
- Considering costs for retailers
- Adding up costs for e-commerce firms
- Finding costs most companies incur
- Why Are You Spending? Cost Drivers
- Pushing equipment too hard and relevant range
- Previewing inventoriable costs
- Following the Rules of the Cost Accounting Road
- Understanding generally accepted accounting principles (GAAP)
- Deciding on accrual basis or cash basis
- Finishing with conservatism
- Chapter 3 Using Cost-Volume-Profit Analysis to Plan Your Business Results
- Understanding How Cost-Volume-Profit Analysis Works
- Calculating the breakeven point
- Financial losses: The crash of your cash
- Contribution margin: Covering fixed costs
- Lowering the breakeven point to reach profitability sooner
- Target net income: Setting the profit goal
- Using operating leverage
- Assessing e-commerce businesses
- Timing is everything when it comes to costs.
- Using Cost-Volume-Profit Analysis to Make Savvy Business Decisions
- Deciding to advertise
- Lowering your price without losing your profit
- Combining the results of two products
- Costing and pricing a new product
- The Tax Man Cometh, the Profits Goeth
- Understanding pre-tax dollars
- Adjusting target net income for income taxes
- Chapter 4 Estimating Costs with Job Costing
- Understanding How Job Costing Works
- Cost objects: The sponges that absorb money
- Charging customers for direct and indirect costs
- Implementing job costing in manufacturing: An example
- Computing direct costs
- Calculating indirect costs
- Presenting total job costs
- Deciding on costing for IT consulting projects
- Determining project needs
- Plugging in job costing
- Taking a Closer Look at Indirect Costs using Normal Costing
- Budgeting for indirect costs
- Following a normal job costing system
- Computing direct costs and indirect costs
- Introducing the job cost sheet
- Following the Flow of Costs through a Manufacturing System
- Control starts with control accounts
- Explaining the debit and credit process
- Walking through a manufacturing cost example
- Applying the methodology to other control accounts
- Chapter 5 More Activity, More Cost: Activity-Based Costing
- Avoiding the Slippery Peanut Butter Costing Slope
- Recognizing a single indirect cost allocation
- A fly in the peanut butter: Dealing with different levels of client activity
- Missing the mark: Undercosting and overcosting
- Designing an Activity-Based Costing System
- Refining your approach
- Grouping costs using a cost hierarchy
- Testing your ABC design
- Using Activity-Based Costing to Compute Total Cost, Profit, and Sale Price
- Allocating indirect costs evenly by product
- Analyzing and reallocating cost activities
- Changing allocations to cost pools.
- Changing prices after ABC
- Implementing ABC Costing for a Business Pivot
- Deciding whether to pivot
- Mulling over a pivot example
- Using ABC Costing for a New Business Model
- Considering sunk costs
- Reviewing food and labor costs
- Allocating new overhead costs
- Applying ABC costing to overhead costs
- Evaluating your results
- Part 2 Planning and Control
- Chapter 6 What's the Plan, Stan? Budgeting for a Better Bottom Line
- Brushing Up on Budgeting Basics
- Seeing the master budget and its component parts
- Why budgeting is important
- Considering the costs and benefits of data collection
- Leveraging AI and data analytics for effective budgeting
- Planning strategically
- Planning How to Plan: Factors That Impact Your Budgeting Process
- Experience counts
- Timing is everything
- People get you headed in the right direction
- Sales projections pay off
- The Nuts and Bolts (and Washers) of Budgeting
- Understanding the budgeting financials
- Reviewing revenue and production budgets
- Budgeting with Cash Accounting or Accrual Accounting
- Cash basis accounting: Using your checkbook to budget
- I accrue, you accrue, we all accrue with accrual accounting
- Budgeting to Produce the Income Statement and Balance Sheet
- The well-balanced balance sheet
- The incredible income statement
- Chapter 7 Constant Change: Variance Analysis
- Variance Analysis and Budgeting
- Using management by exception to recognize large variances
- Seeing the problem in using a static budget
- Opting for a flexible budget
- Investigating budget variances
- Analyzing in Material Price and Efficiency Variances
- Applying price variances to direct materials
- Applying efficiency variances to direct materials
- Implementing price variances for direct labor
- Sizing up efficiency variances for direct labor.
- Using Your Findings to Make Decisions
- Following up on variances
- Judging the effectiveness of your employees
- Tying supply chain concepts to variance analysis
- Attaching ABC costing concepts to variance analysis
- Chapter 8 Focusing on Overhead Costs
- Using Cost Allocation to Minimize Overhead
- Paying for the Security Guard: Fixed Overhead Costs
- Planning fixed overhead costs
- Allocating fixed overhead costs
- Assessing potential causes of fixed overhead variances
- Those Vexing Variable Manufacturing Costs
- Working with variable overhead costs
- Implementing variance analysis
- Finding the reasons for a variable overhead variance
- Chapter 9 What's on the Shelf? Inventory Costing
- Working with Inventoriable Costs
- Using the matching principle to calculate profit on sale
- Erring on the conservative side
- Costing Methods for Inventory
- Using the first-in, first-out (FIFO) method
- Accounting with the last-in, first-out (LIFO) method
- Weighing the merits of weighted-average cost
- Considering specific identification method
- Analyzing profit using FIFO and LIFO
- Using Variable and Absorption Costing to Allocate Fixed Manufacturing Costs
- Defining period costs and product costs
- Applying variable and absorption costing
- Relating Capacity Issues to Inventory
- Reviewing theoretical and practical capacity
- Understanding capacity issues for e-commerce firms
- Using normal and master-budget capacity
- Choosing a capacity level
- Part 3 Making Decisions
- Chapter 10 Cost Drivers and Cost Estimation Methods
- Working with Cost Behavior
- Understanding linear and nonlinear cost functions
- Discovering how cost drivers determine total costs
- Considering Cost Estimation Methods
- Walking through the industrial engineering method
- Agreeing on the conference method.
- Reviewing the account analysis method
- Checking out the quantitative analysis method
- Choosing a cost estimation method
- Exploring Nonlinear Cost Functions
- Changing cost functions and slope co-efficients
- Understanding the impact of quantity discounts
- Assessing the Impact of Learning Curves
- Considering how AI and Data Analytics Impact Learning Curves
- Reviewing AI and data analytics
- Throwing in the learning curve
- Simplifying a procedure
- Finding and using better data
- Chapter 11 Making Smart Business Decisions with Relevant Information
- Navigating the Geography of Relevance
- Introducing the decision model
- Applying a model to an equipment decision
- Understanding IT purchasing issues
- Considering relevant qualitative factors in decision-making
- Special Orders Don't Upset Us, Do They?
- Deciding between Outsourcing and In-house Production
- Weighing opportunity costs
- Contemplating the carrying cost of inventory
- Maximizing Profit When Capacity Is Limited
- Managing capacity and product mix
- Analyzing customer profit and capacity
- Chapter 12 Making Smart Pricing Decisions: Figuring Total Costs
- Understanding Influences on Prices
- Customers
- Competitors
- Suppliers
- Special orders
- Pricing for Profits Down the Road
- Reviewing market-based and cost-based pricing
- Aiming at the target: Target costing
- Arriving at a Reasonable Profit
- Using cost-plus pricing
- Using product life-cycle budgeting
- Managing IT product costs and pricing
- Part 4 Allocating Costs and Resources
- Chapter 13 Analysis Methods to Improve Profitability
- Processing Cost Allocation
- Why bother? Purposes of cost allocation
- Justifying cost allocation decisions
- Implementing Cost Allocation
- Using cost hierarchy to allocate costs
- Allocating tricky corporate costs.
- Keeping track of customer revenues and costs.
