Cost accounting for dummies

Cost accounting for dummies

Cost Accounting For Dummies
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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...

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Detalles Bibliográficos
Otros Autores: Boyd, Ken, author (author)
Formato: Libro electrónico
Idioma:Inglés
Publicado: Hoboken, NJ : John Wiley & Sons, Inc [2022]
Edición:Second edition
Colección:--For dummies.
Materias:
Cost accounting.
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.

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