管理会计 英文版 第8版PDF|Epub|txt|kindle电子书版本网盘下载

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1 Manager?al Accounting and the Business Environment2

Planning4

The Work of Management and the Need for Managerial Accounting lnformation4

Controlling5

Directing and Motivating5

The End Results of Manogers Activities6

Comparison of Financial and Managerial Accounting7

The Planning and Control Cycle7

Generally Accepted Accounting Principles(GAAP)8

Segments of an Organization8

Emphasis on the Future8

Relevance and Flexibility of Data8

Less Emphasis on Precision8

Expanding Role of Managerial Accounting9

Managerial Accounting-Not Mandatory9

Just-in-Time(JIT)10

The Changing Business Environment10

Total Quality Management(TQM)15

Process Reengineeting18

The Theory of Constraints(TOC)20

Automation20

Infernational Competition23

Decentralization24

Organizational Structure24

Line and Staff Relationships25

Professional Ethics26

The Controller26

Company Codes of Conduct27

Code of Conduct for Management Accountants27

Codes of Conduct on the International Level29

Summary30

The Certified Management Accountant（CMA）30

Key Terms for Review31

Exercises33

Questions33

Problems35

Group Exercises38

PART 1 THE FOUNDATION:Cost Behowior，and Systems Design41

2 Cost Terms，Concepts，and Classifications42

General Cost Classifications44

Manufacturing Costs45

Nonmanufacturing Costs46

Product Costs47

Period Costs47

Period Costs versus Product Costs47

Cost Classifications on Financial Statements48

The Balance Sheel49

The lncome Statement50

Schedule of Cost of Goods Manufactured51

Product Costs-A Closer Look52

An Example of Cost Flows54

Inventoriable Costs54

Cost Classifications for Predicling Cost Behavior55

Variable Cost56

Fixed Cost57

Indirect Cost58

Direct Cost58

Cost Classifications for Assigning Costs to Cost Objects58

Differential Cost and Revenue59

Cost Classifications for Decision Making59

Oppartunity Cost60

Summary61

Sunk Cost61

Review Problem 1：Cost Terms62

Review Problem2：Schedule of Cost of Goods Manufactured and Income Statement63

Key Terms for Review64

Appendix 2A：Further Classification of Labor Costs65

Questions67

Exercises68

Problems71

Cases78

Group Exercises79

3 Systems Design：Job-Order Costing82

Process Costing84

Types of Costing Systems84

The Need for Unit Product Cost Data84

Job-Order Costing85

Job-Order Costing-An Overview86

Summary of Costing Methods86

Measuring Direct Materials Cost87

Job Cost Sheet88

Measuring Direct Labor Cost89

Application of Manufacturing Overhead90

Computation of Unit Costs93

Choice of an Allocation Base for Overhead Cost93

The Purchase and Issue of Materials95

Job-Order Costing-The Flow of Costs95

Summary of Document Flows95

Manufacturing Overhead Costs98

Labor Cost98

The Application of Manufacturing Overhead99

Cost of Goods Manufactured101

Nonmanufacturing Costs101

Summary of Cost Flows102

Cost of Goods Sold102

Underapplied and Overapplied Overhead106

Problems of Overhead Application106

Disposition of Under-or Overapplied Overhead Balances107

A General Model of Product Cost Flows108

Multiple Predetermined Overhead Rates109

Use of Bar Code Technology110

Job-Order Costing in Service Companies110

Review Problem：Job-Order Costing112

Summary112

Questions115

Key Terms for Review115

Exercises116

Problems121

Coses132

Group Exercises135

4 Systems Design：Process Costing138

A Perspective of Process Cost Flows141

Differences between Job-Order and Process Costing141

Comparison of Job-Order and Process Costing141

Similarities between Job-Order and Process Costing141

Processing Departments142

The Flow of Mafterials，Labor，and Overhead Costs143

Materials，Labor，and Overhead Cost Entries144

Equivalent Units of Production147

Weighted-Average Method148

Production Report-Weighted-Average Method149

Step2：Compute the Total and Unit Costs151

Step1：Prepare a Quanlity Schedule and Compute the Equivalent Units151

Step3：Prepare a Cost Reconciliation152

A Comment about Rounding Errors154

Operation Costing155

Review Problem：Process Cost Flows and Reports156

Summary156

Key Terms for Review158

Appendix 4A：FIFO Method159

Questions165

Exercises166

Problems169

Cases175

Group Exercises176

5 Systems Design：Activity-Based Costing and Quality Management178

Level One：Plantwide Overhead Rate180

The Concept of Activity-Based Costing180

Level Two：Deparlmental Overhead Rates181

Level Three：Activity-Based Costing182

Process Value Analysis(PVA)183

Design of an Activity-Based Costing System183

Idenlifying Activily Centers185

Assigning Costs to Activity Centers187

Graphic Example of Activity-Based Costing188

Selecting Cost Drivers188

Numerical Example of Activity-Based Costing190

Comtek Sound，Inc．′s Basic Data191

Activities as a Base192

Direct labor-Hours as a Base192

Benefits of Activity-Based Costing196

Benefits and Limitations of Activity-Based Costing196

Limitations of Activity-Based Costing197

International Use of Activity-Based Costing199

Activity-Based Costing and Service Industries199

Quality of Design200

Grade200

Quality Management200

Quality of Conformance-A Closer Look202

Quality of Confo?mance202

Prevention Costs203

Internal Failure Costs204

Appraisal Costs204

External Failure Costs205

Distribution of Quality Costs206

Quality Cost Reports207

Use of Quality Cost Information208

Quality Cost Reports in Graphic Form208

International Aspects of Quality209

The ISO 9000 Standards210

Review Problem：Activity-Based Costing211

Summary211

Key Terms for Review213

Appendix 5A：Cost Flows in an Activity-Based Costing System214

Questions217

Exercises219

Problems224

Cases233

Group Exercises237

6 Cost Behavior：Analysis and Use238

Types of Cost Behayior Patterns240

Variable Costs241

True Variable Versus Step-Variable Costs242

Fixed Costs244

The Linearity Assumption and the Relevant Range244

Types of Fixed Costs245

the Trend toward Fixed Costs247

Fixed Costs and the Relevant Range248

Mixed Costs249

The Analysis of Mixed Costs251

The High-Low Method253

The Scattergraph Method255

The Least-Squares Regression Method257

The Use of Judgment in Cost Analysis258

The Contribution Format259

Engineering Approach to Cost Study259

Multiple Regression Analysis259

Summary260

The Contribution Approach260

Why a New Income Statement Format?260

Review Problem1：Cost Behavior261

Key Terms for Review262

Review Problem2：High-Low Methad262

Appendix 6A：Least-Squares Regression Calculations263

Questions265

Exercises266

Problems268

Cases274

Group Exercises275

PART 11 THE CENTRAL THEME：Planning and Control277

7 Cost-Volume-Profit Relationships278

Contribution Margin281

The Basics of Cost-Volume-Profit(CVP)Analysis281

Contribution Margin Ratio (CM Ratio)283

Some Applications of CVP Concepts284

Importance of the Contribution Margin287

Break-Even Computations288

Break-Even Analysis288

CVP Relationships in Graphic Form290

Target Net Profit Analysis293

The Margin of Safety295

Cost Structure and Profit Stability296

CVP Considerations in Choosing a Cost Structure296

Operating Leverage298

Automation：Risks and Rewards from c CVP Perspective300

Structuring Sales Commissions301

Sales Mix and B?eak-Even Analysis302

The Definition of Sales Mix302

The Concept of Sales Mix302

Assumptions of CVP Analysis304

Sales Mix and per Unit Contr?bution Margin304

Review Problem：CVP Relationships305

Summary305

Key Terms for Review307

Questions308

Exercises309

Problems311

Cases319

Group Exercises322

8 Variable Costing：A Tool for Management324

Variable Costing326

Absorption Costing326

Overvlew of Absorption and Variable Costing326

Unit Cost Computations327

Income Comparison of Absorption and Variable Costing328

The Controversy over Fixed Overhead Cost328

The Definition of an Asset330

Extended Comparison of Income Data331

Absorption Costing335

Variable Costing335

Effect of Changes in Production on Net Income335

The Impact on the Manager338

CVP Analysis and Absorption Costing339

Other Factors in Choosing a Costing Method339

External Reporting and Income Taxes340

Pricing Decisions340

Advantages of the Contribution Approach341

Impact of JIT Inventory Methods342

Variable Costing and the Theory of Constraints342

Review Problem343

Summary343

Questions345

Key Terms for Review345

Exercises346

Problems348

Cases352

Group Exercises356

9 Profit Planning358

Difference Between Planning and Control360

Personol budgets360

The Basic Framework of Budgeting360

Definition of Budgeting360

Advantages of Budgeting361

Responsibility Accounting362

Choosing a Budget Period363

The Matter of Human Relations365

The Budget Committee366

The Master Budget-A Network of Interrelationships367

Sales Forecasting-A Critical Step368

Preparing the Master Budget369

The Production Budget371

The Sales Budgei371

The Direct Maferials Budget373

Inventory Purchases-Merchandising Firm373

The Direct Labor Budge?374

The Manufacturing Overhead Budget375

The Selling and Administrative Expense Budget376

The Ending Finished Goods Inventory Budget376

The Cash Budget377

The Budgeted Income Statement378

The Budgeted Balance Sheet380

Expanding the Budgeted Income Statement381

JIT Purchasing383

Zero-Base Budgeting384

International Aspec s of Budgeting385

Review Problem：Budget Schedules386

The Need for Further Budgeting Material386

Key Terms for Review388

Appendix 9A：Economic Order Quanfity(EOQ) and the Reorder Point389

Exercises396

Questions396

Problems399

Cases409

Group Exercises412

10 Standard Costs and Operating Performance Measures414

Standard Costs-Management by Exception416

Setting Standard Costs417

Who Uses Standard Costs?417

Ideal Versus Practical Standards418

Setting Direct Materials Standards419

Setting Variable Manufacturing Overhead Standards421

Setting Direct Labor Standards421

Advantages of Standard Costs422

Are Standards the Same as Budgets?422

Price and Quantity Variances423

A General Model for Variance Analysis423

Disadvantages of Standard Costs423

Using Standard Costs—Direct Materials Variances425

Materials Price Variance—A Closer Look426

Materials Quantity Variance—A Closer Look428

Labor Rate Variance —A Closer Look429

Using Standard Costs—Direct Labor Variances429

Labor Efficiency Variance—A Closer Look430

Manufacturing Overhead Variance—A Closer Look431

Using Standard Costs—Variable Manufacturing Overhead Variances431

Structure of Performance Reports434

Variance Analysis and Management by Exception435

Standard Costs and the New Competitive Environment436

Operating Performance Measures436

New Performance Measures437

Quality Control Measures438

Inventory Control Measures439

Material Control Measures439

Machine Performance Measures440

Delivery Performance Measures441

International Uses of Standard Costs443

Standard Costs and Operating Performance Measures443

Summary444

Review Problem:Standard Costs445

Key Terms for Review446

Appendix 10A:General Ledger Entries to Record Variances448

Exercises449

Questions449

Problems452

Cases462

Group Exercises465

11 Flexible Budgets and Overhead Analysis468

Deficiencies of the Static Budget470

Characteristics of a Flexible Budget470

Flexible Budgets470

How the Flexible Budget Works472

The Measure of Activity—A Critical Choice473

The Problem of Budget Allowances474

The Overhead Performance Report—A Closer Look474

Spending Variance Alone475

Both Spending and Efficiency Variances477

Expanding the Flexible Budget478

Activity-Based Costing and the Flexible Budget479

Fixed Costs and the Flexible Budget479

Overhead Rates and Fixed Overhead Analysis481

Flexible Budgets and Overhead Rates482

Overhead Applications in a Standard Cost System483

The Budget Variance—A Closer Look484

The Fixed Overhead Variances484

The Volume Variance—A Closer Look485

Graphic Analysis of Fixed Overhead Variances486

Overhead Variances and Under-or Overapplied Overhead Cost487

Cautions in Fixed Overhead Analysis487

Presentations of Variances on the Income Statement488

Review Problem:Overhead Analysis489

Questions491

Key Terms for Review491

Exercises492

Problems495

Cases503

Group Exercises507

12 Segment Reporting,Profitability Analysis,and Decentralizotion510

Hindrances to Proper Cost Assignment512

Inappropriate Methods for Allocating Costs among Segments513

Omission of Costs513

Arbitrarily Dividing Common Costs among Segments514

Levels of Segmented Statements517

Segment Reporting and Profitability Analysis517

Sales and Contribution Margin518

Assigning Costs to Segments518

Traceable and Common Fixed Costs520

Traceable Costs Can Become Common Costs521

Segment Margin522

Customer Profitability Analysis523

Varying Breakdowns of Total Sales523

Decentralization and Segment Reporting525

Responsibility Accounting525

Cost,Profit,and Investment Centers526

The Return on Investment (ROI) Formula528

Rate of Return for Measuring Managerial Performance528

Measuring Management Performance528

Net Operating Income and Operating Assets Defined529

Plant and Equipment:Net Book Value or Gross Cost?530

Controlling the Rate of Return531

Reduce Operating Assets532

Reduce Expenses532

Increase Sales532

The Proplem of Allocated Expenses and Assets533

Residual Income—Another Measure of Performance534

Criticisms of ROI534

Motivation and Residual Income535

Divisional Comparison and Residual Income536

Review Problem 1:Segmented Statements537

Summary537

Review Problem 2:Return on Investment (ROI) and Residual Income538

Key Terms for Review539

Appendix 12A:Transfer Pricing540

Review Problem 3:Transfer Pricing549

Questions551

Exercises552

Problems556

Cases569

Group Exercises571

PART Ⅲ THE CAPSTONE:Using Cost Data in Decision Making573

13 Relevant Costs for Decision Making574

Identifying Relevant Costs576

Cost Concepts for Decision Making576

Sunk Costs Are Not Relevant Costs577

Different Costs for Different Purposes577

Book Value of Old Equipment578

Future Costs that Do Not Differ Are Not Relevant Costs580

Why Isolate Relevant Costs?582

An Example of Irrelevant Future Costs582

Adding and Dropping Product Lines and Other Segments583

An Illustration of Cost Analysis584

Beware of Allocated Fixed Costs586

A Comparative Format586

The Make or Buy Decision588

Strategic Aspects of the Make or Buy Decision589

An Example of Make or Buy590

The Matter of Opportunity Cost591

Special Orders592

Contribution in Relation to Scarce Resources593

Utilization of Scarce Resources593

Managing Constraints595

Joint Product Costs and the Contribution Approach596

The Problem of Multiple Constraints596

Sell or Process Further Decisions597

The Pitfalls of Allocation597

Activity-Based Costing and Relevant Costs599

Review Problem:Relevant Costs600

Summary600

Key Terms for Review601

Questions602

Exercises603

Problems607

Cases615

Group Exercises620

14 Capital Budgeting Decisions622

Capital Budgeting—An Investment Concept624

Characteristics of Business Investments625

Typical Capital Budgeting Decisions625

The Net Present Value Method Illustrated626

Discounted Cash Flows—The Net Present Value Method626

Emphasis on Cash Flows628

Recovery of the Original Investment629

Choosing a Discount Rate630

Simplifying Assumplions630

An Extended Example of the Net Present Value Mathod631

The Internal Rate of Return Method Illustrated632

Discounted Cash Flows—The Internal Rate of Return Method632

Salvage Value and Other Cash Flows633

The Cost of Capital as a Screening Tool634

Using the Internal Rate of Return634

The Process of Interpolation634

Comparison Of The Net Present Volue and the Internral Rate of Return Methods635

The Total-Cost Approach636

Expanding the Net Present Value Method636

The Incremental-Cost Approach638

Least-Cost Decisions639

Investments in Automated Equipment640

Capital Budgeting and Nonprofit Organizations640

Benefits from Automation641

Decision Framework for Intangible Benefits642

The Payback Method643

Other Approaches to Capital Budgeting Decisions643

Evaluation of the Payback Method644

An Extended Example of Payback645

The Simple Rate of Return Method646

Payback and Uneven Cash Flows646

The Choice of an Investment Base648

Criticisms of the Simple Rate of Return648

Postaudit of Investment Projects649

Summary650

Review Problem 1:Basic Present Value Computations651

Review Problem 2:Comparison of Capital Budgeting Methods652

Key Terms for Review653

Appendix 14A:The Concept of Present Value654

Appendix 14B:Inflation and Capital Budgeting658

Appendix 14C:Future Value and Present Value Tables660

Questions662

Exercises663

Problems666

Cases675

Group Exercises678

15 Forther Aspects Opvestment Decisions680

Income Taxes and Capital Budgeting682

The Concepi of After-Tax Cost683

The Concept of Depreciation Tax Shield685

Modified Accelerated Cost Recovery System686

The Choice of a Depreciation Method691

Example or Income Taxes and Capital Budgeting692

The Total-Cost Approach and Income Taxes694

Net Present Valve Method697

Internal Rate of Return Method697

Preference Decisions—The Ranking of Investment Projects697

Companng the Preference Rules698

Summary699

Review Problem:Capital Budgeting and Taxes700

Questions701

Key Terrrs for Review701

Exercises702

Problems704

Cases711

Group Exercises713

Part IV SELECTED TOPICS FOR FURTHER STUDY717

16 Service Department Costing:An Activity Approach718

Selecling Allocation Bases720

Guidelines for Cost Allocation720

The Need for Cost Allocation720

Interdepartmental Services722

Allocating Costs by Behavior727

Pitfalls in Allocaling Fixed Costs728

Effect of Allocations on Operating Departments729

Should Actual o Budgeted Costs Be Allocated?729

Basic Allocation Techniques731

Implementing the Allocation Guidelines731

A Summary of Cost Allocation Guidelines731

An Extended Example733

Should All Costs Be Allocated?735

No Distinction Made between Fixed and Variable Costs735

Beware of Sales Dollars as an Allocation Base736

Summary737

Review Problem:Direct and Step Methods738

Key Terms for Review739

Exercises740

Questions740

Problems742

Cases747

Group Exercises749

17 How Well Am I Doing2 Stctement of Cash Flows752

Constructing the Statement of Cash Flows Using Changes in Noncash Balance Sheet Accounts755

Definition of Cash755

The Basic Approach to a Statement of Cash Flows755

Constructing a Simplified Statement of Cash Flows757

An Example of a Simplified Statement of Cash Flows757

Depreciation,Depletion,and Amortization758

Investing Activities760

Operating Activities760

The Need for a More Detailed Statement760

Organization of the Full-Fledged Statement of Cash Flows760

Other Issues in Preparing the Statement of Cash Flows761

Financing Activities761

Direct Exchange Transactions762

Operating Activities:Direct or Indirect Method?762

Eight Basic Steps to Preparing the Statement of Cash Flows763

An Example of a Full-Fledged Statement of Cash Flows763

Setting Up the Worksheet (Steps 1-4)765

Adjustments to Reflect Gross,Rather Than Net ,Amounts (Step 5)766

The Completed Statement of Cash Flows (Steps 7 and 8)767

Classifying Entries as Operating,Investing,or Financing Activities (Step ó)767

Interpretation of the Statement of Cash Flows769

Summary770

Review Problem770

Key Terms for Review772

Appendix 17A:The Direct Method of Determining the Net Cash Provided by Operating Activities772

Questions774

Exercises775

Problems778

Group Exercises784

18 How Well Am I Doing? Financial Statement Analysis786

Limitations of Financial Statement Analysis788

Comparison of Financial Data788

The Need to Look beyond Ratios788

Dollar and Percentage Changes on Statements789

Statements in Comparative and Common-Size Form789

Common-Size Statements792

Ratio Analysis—The Common Stockholder794

Earnings per Share794

Extraordinary ltems and Earnings per Share795

Fully Diluted Earnings per Share796

Price-Earnings Ratio797

Dividend Payout and Yield Ratios797

Return on Total Assets798

Return on Common Stockholders Equity799

Financial Leverage800

Book Value Per Share801

Ratio Analysis—The Short-Term Creditor802

Working Capital802

Current Ratio803

Acid-Test (Quick)Ratio804

Accounts Receivable Turnover804

Inventory Turnover805

Ratio Analysis—The Long-Term Creditor806

Times Interest Earned Ratio806

Debt-to-Equity Ratio807

Summary of Ratios and Sources of Comparative Ratio Data808

Summary809

Review Problem:Selected Ratios and Financial Leverage809

Key Terms for Review812

Questions812

Exercises813

Problems816

Group Exercises826

Appendix Pricing Products and Services828

Cost-Plus Pricing830

The Absorption Approach830

The Contribution Approach832

Determining the Markup Percentage832

Markup on an Absorption Basis833

Markup on a Contribution Basis834

Target Costing834

Reasons for Using Target Costing836

An Example of Target Costing836

Material Component837

Time Component837

An Example of Time and Material Pricing837

Service Companies—Time and Material Pricing837

Key Terms for Review838

Questions839

Exercises839

Problems840

Photo Credits845

Author Index847

Company Index849

Subject Index851