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Cost Accounting: A Managerial Emphasis: United States Edition

Autor Charles T. Horngren, George Foster, Srikant M. Datar, Madhav Rajan, Chris Ittner
en Limba Engleză Paperback – 4 mar 2008
For undergraduate and MBA students taking a Cost or Management Accounting course.  
Emphasizing the “different costs for different purposes,” this text focuses on strategy and the decision making process.  With a tradition of being the market leading text and professional standard, the new edition has deepened it's strategic focus and emphasis, and invested in market breaking MyAccountingLab tutorial support.

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Specificații

ISBN-13: 9780136126638
ISBN-10: 0136126634
Pagini: 896
Dimensiuni: 216 x 276 mm
Greutate: 2.0099999999999998 kg
Ediția:13Nouă
Editura: Pearson Education
Colecția Prentice Hall
Locul publicării:Upper Saddle River, United States

Cuprins

1.    The Accountant's Role in the Organization
2.    An Introduction to Cost Terms and Purposes
3.    Cost-Volume Profit Analysis
4.    Job Costing
5.    Activity-Based Costing and Activity-Based Management
6.    Master Budget and Responsibility Accounting
7.    Flexible Budgets, Direct-Cost Variances, and Management Control
8.    Flexible Budgets, Overhead-Cost Variances, and Management Control
9.    Inventory Costing and Capacity Analysis
10.    Determining How Costs Behave
11.    Decision-Making and Relevant Information
12.    Pricing Decisions and Cost Management
13.    Strategy, Balanced Scorecard, and Strategic Profitability Analysis
14.    Cost Allocation, Customer-Profitability Analysis, and Sales-Variance Analysis
15.    Allocation of Support Department Costs, Common Costs and Revenues
16.    Cost Allocation: Joint Products and Byproducts
17.    Process Costing
18.    Spoilage Rework, and Scrap
19.    Balanced Scorecard: Quality, Time, and the Theory of Constraints
20.    Inventory Management, Just-in-Time, and Simplified Costing Methods
21.    Capital Budgeting and Cost Analysis
22.    Management Control Systems, Transfer Pricing, and Multinational Considerations
23.    Performance Measurement, Compensation, and Multinational Considerations


Notă biografică

Charles T. Horngren is the Edmund W. Littlefield Professor of Accounting, Emeritus, at Stanford University. A Graduate of Marquette University, he received his MBA from
Harvard University and his Ph.D. from the University of Chicago. He is also the recipient
of honorary doctorates from Marquette University and DePaul University.
A Certified Public Accountant, Horngren served on the Accounting Principles Board for six years, the Financial Accounting Standards Board Advisory Council for five years, and the Council of the American Institute of Certified Public Accountants for three years. For six years, he served as a trustee of the Financial Accounting Foundation, which oversees the Financial Accounting Standards Board and the Government Accounting Standards Board. Horngren is a member of the Accounting Hall of Fame.
A member of the American Accounting Association, he has been its President and its
Director of Research. He received its first annual Outstanding Accounting Educator Award. The California Certified Public Accountants Foundation gave Horngren its Faculty Excellence Award and its Distinguished Professor Award. He is the first person to have received both awards.
The American Institute of Certified Public Accountants presented its first Outstanding Educator Award to Horngren.
Horngren was named Accountant of the Year, Education, by the national professional accounting fraternity, Beta Alpha Psi.
Professor Horngren is also a member of the Institute of Management Accountants, from whom he received its Distinguished Service Award. He was also a member of the Institutes’ Board of Regents, which administers the Certified Management Accountant examinations.
Horngren is the author of other accounting books published by Prentice Hall:
Introduction to Management Accounting, 13th ed. (2005, with Sundem and Stratton);
Introduction to Financial Accounting, 9th ed. (2005, with Sundem and Elliott); Accounting, 6th ed. (2005, with Harrison and Bamber); and Financial Accounting, 6th ed. (2005, with Harrison).
Horngren is the Consulting Editor for the Charles T. Horngren Series in Accounting.
 
Srikant M. Datar is the Arthur Lowes Dickinson Professor of Business Administration
at Harvard University. A graduate with distinction from the University of Bombay, he
received gold medals upon graduation from the Indian Institute of Management,
Ahmedabad, and the Institute of Cost and Works Accountants of India. A Chartered
Accountant, he holds two masters degrees and a Ph.D. from Stanford University.
Cited by his students as a dedicated and innovative teacher, Datar received the George Leland Bach Award for Excellence in the Classroom at Carnegie Mellon University and the Distinguished Teaching Award at Stanford University.
Datar has published his research in various journals, including The Accounting Review, Contemporary Accounting Research, Journal of Accounting, Auditing and Finance, Journal of Accounting and Economics, Journal of Accounting Research, and Management Science. He has also served on the editorial board of several journals and presented his research to corporate executives and academic audiences in North America, South America, Asia, Africa, and Europe.
Datar is a member of the Board of Directors of Novartis A.G. and has worked with many organizations, including Apple Computer, AT&T, Boeing, British Columbia
Telecommunications, The Cooperative Bank, Du Pont, Ford, General Motors, Hewlett-
Packard, Kodak, Mellon Bank, PepsiCo, Solectron, Store 24, Stryker, TRW, Visa, and the World Bank. He is a member of the American Accounting Association and the Institute of Management Accountants.
 
George Foster is the Paul L. and Phyllis Wattis Professor of Management at Stanford
University. He graduated with a university medal from the University of Sydney and
has a Ph.D. from Stanford University. He has been awarded honorary doctorates from
the University of Ghent, Belgium, and from the University of Vaasa, Finland. He has
received the Outstanding Educator Award from the American Accounting Association.
Foster has received the Distinguished Teaching Award at Stanford University and
the Faculty Excellence Award from the California Society of Certified Public
Accountants. He has been a Visiting Professor to Mexico for the American Accounting
Association. Research awards Foster has received include the Competitive Manuscript
Competition Award of the American Accounting Association, the Notable Contribution
to Accounting Literature Award of the American Institute of Certified Public Accountants, and the Citation for Meritorious Contribution to Accounting Literature Award of the Australian Society of Accountants.
He is the author of Financial Statement Analysis, published by Prentice Hall. He is coauthor of Activity-Based Management Consortium Study (APQC and CAM-I) and Marketing, Cost Management and Management Accounting (CAM-I). He is also co-author of two monographs published by the American Accounting Association-Security Analyst Multi-Year Earnings Forecasts and The Capital Market and Market Microstructure and Capital Market Information Content Research. Journals publishing his articles include Abacus, The Accounting Review, Harvard Business Review, Journal of Accounting and Economics, Journal of Accounting Research, Journal of Cost Management, Journal of Management Accounting Research, Management Accounting, and Review of Accounting Studies.
Foster works actively with many companies, including Apple Computer, ARCO, BHP, Digital Equipment Corp., Exxon, Frito-Lay Corp., Hewlett-Packard, McDonalds Corp., Octel Communications, PepsiCo, Santa Fe Corp., and Wells Fargo. He also has worked closely with Computer Aided Manufacturing-International (CAM-I) in the development of a framework for modern cost management practices. Foster has presented seminars on new developments in cost accounting in North and South America, Asia, Australia, and Europe.



NEW Authors:

Madhav Rajan -- Madhav Rajan is the Gregor G. Peterson Professor of Accounting at the Graduate School of Business, Stanford University.  He is also Professor of Law (by courtesy) at Stanford Law School.  Madhav joined Stanford University in 2001 and, since 2002, has served as the area coordinator for Accounting at Stanford GSB.
 
Madhav received his undergraduate degree in Commerce from the University of Madras, India, and his MS in Accounting, MBA, and Ph.D degrees from the Graduate School of Industrial Administration at Carnegie Mellon University.  In 1990, his dissertation won the Alexander Henderson Award for Excellence in Economic Theory.  After completing his doctoral studies, Madhav joined the faculty of the Wharton School of the University of Pennsylvania and was promoted to the rank of tenured Associate Professor in 1996, and Professor in 2000.
           
Madhav’s primary area of research interest is the economics-based analysis of management accounting issues, especially as they relate to the choice of internal control and performance systems in firms.  His theoretical work has examined the optimal choice of information and incentive systems and the rationale behind observed internal accounting practices related to cost allocation and capital budgeting.  Madhav has also carried out empirical research, using both archival and field data, on the role of incentive systems, quality-based programs, and buyer-supplier relations.  In 2004, he received the Notable Contribution to Management Accounting Literature award for his work with Stan Baiman on “The Role of Information and Opportunism in the Choice of Buyer-Supplier Relationships.”
 
Madhav’s most recent work focuses on the internal control of multi-divisional firms.  Topics include the efficiency of auction markets at allocating resources across divisions and the usefulness of bonus pools as a means for incorporating subjective measures of managerial performance.  He is also currently involved in a research project that looks at whether and how accounting measures of performance can be used to infer the economic profitability of firms.
 
Madhav has served as an editor of The Accounting Review for the past six years.  He is an associate editor for both the Accounting and Operations areas for Management Science, and for the Journal of Accounting, Auditing and Finance.  He is a member of the Management Accounting section of the American Accounting Association and has twice been a plenary speaker at the AAA Management Accounting Conference.
 
Madhav has taught courses in managerial accounting at the undergraduate, MBA, and executive MBA levels.  He also teaches an elective class in financial reporting to students at Stanford Law School.  Madhav has won several teaching awards at Wharton and Stanford, including the David W. Hauck Award, the highest undergraduate teaching honor at Wharton.  At Stanford, Madhav participates a variety of executive education programs including the flagship Stanford Executive Program and the National Football League Program for Managers.  He has made invited presentations to the Labor Seminar of the National Football League Management Council and recently taught in the inaugural National Basketball Players Association Program.


Christopher D. Ittner is the Ernst & Young Professor of Accounting at The Wharton School of the University of Pennsylvania.  A graduate of California State University, Long Beach, he received his MBA from UCLA and a Doctorate in Business Administration from Harvard University.
 
Ittner has received a number of teaching awards from Wharton students, and teaches management accounting courses for doctoral students from throughout the United States and Europe.
 
His research has been published in leading accounting, marketing, and operations management journals, including The Accounting Review, Journal of Accounting and Economics, Journal of Accounting Research, Management Science, and Operation Research, among others.  Awards for his research include the American Accounting Association’s Notable Contribution to Management Accounting Literature and Outstanding Dissertation in Management Accounting. He is also co-author of the book Linking Quality to Profits: Quality-Based Cost Management (ASQC and IMA).  Ittner is an Associate Editor of Accounting, Organizations and Society and Management Science and serves on the editorial boards of a number of other accounting and operations management journals.
 
Ittner is a founding board member of the Performance Measurement Association and a member of the American Accounting Association, Institute of Management Science, and Production and Operations Management Society.  He has worked with a large number of companies on cost accounting and performance measurement issues, including Capital One, EDS, Ernst & Young, General Motors, and Sunoco

Caracteristici

Core Features of Horngren


 
For undergraduate and MBA students taking a Cost or Management Accounting course.
 
Emphasizing the “different costs for different purposes,” this text focuses on strategy and the decision making process.
 
Driving and innvovating with New Features and Technology - the new edition includes substantial improvements in content, and value-added student and instructor support.   In particular, a stronger emphasis on strategic topics, new authors from Wharton and Stanford, and tutorial MyAccountingLab software based on rock solid technology (with millions of students using).  For complete information, visit the What's New section.


Text driven by Hallmark Values 


 
·        Exceptionally strong emphasis on managerial uses of cost information
·        Clarity and understandability of the text
·        Excellent balance in integrating modern topics with existing content
·        Emphasis on human behavior aspects
·        Extensive use of real-world examples
·        Ability to teach chapters in different sequences
·        Excellent quantity, quality, and range of assignment material
 
The first thirteen chapters provide the essence of a one-term (quarter or semester) course. There is ample text and assignment material in the book’s twenty-three chapters for a two-term course. This book can be used immediately after the student has had an introductory course in financial accounting. Alternatively, this book can build on an introductory course in managerial accounting.
Deciding on the sequence of chapters in a textbook is a challenge. Every instructor has a favorite way of organizing his or her course. Hence, we present a modular, flexible organization that permits a course to be custom tailored. This organization facilitates diverse approaches to teaching and learning




Framework for Decision-Making
 
The framework in this edition helps students see how the demand for various types of management accounting information is a response to the decision-making needs of managers.  Serving as a structure for discussing many management accounting concepts in later chapters, Chapter 1 presents the process (p. 9) by:
 
  • Identifying the problem and uncertainties
  • Obtaining information
  • Making predictions
  • Choosing among alternatives
  • Implementing the decision
  • Evaluating performance and learning
 
The Bridge Between Cost and Management Accounting
 
Chapter 2 (p. 26) provides the framework for discussing topics in later chapters, such as strategy, evaluation, quality and just-in-time systems, that invariably have product-costing, planning and control, and decision-making perspectives. The framework emphasizes three key ideas:
 
  • Calculating the cost of products, services, and other cost objects
  • Obtaining information for planning and control and performance evaluation
  • Identifying relevant information for decision making
 
The Balanced Scorecard
 
Chapter 13 (p. 462)describes how the balanced scorecard can help companies determine whether the problems they are facing are the result of poor strategy or poor implementation. The balanced scorecard and its four perspectives serve as an organizing framework for topics such as:
 
·        Quality and time in Chapter 19

·        Management control in Chapter 22
·        Performance evaluation in Chapter 23
 
 
ABC: Activity-Based Costing
 
Presented in Chapter 5 (p. 136), material is now presented in a single chapter with links to simpler job-costing systems presented in Chapter 4.  New material has been added to subsequent chapters on activity-based budgeting, customer-profitability analysis, activity-based costing and activity-based management.
 
New and Evolving Management Thinking
 
A systematic incorporation of new and evolving management thinking has been added including activity-based management, integrated approach to variance analysis, lean accounting and levels of control.
 
OTHER TOPICS OF DISTINCTION
 
New Excel Labs!
 
For Professors: Instructors can access the Excel worksheets to support in-class discussion, to demonstrate key concepts, to explain difficult points, or to perform what-if (sensitivity) analysis.
 
For Students: Excel templates for selected end-of-chapter exercises and problems (marked with an icon) are available online at www.prenhall.com/horngren/cost12e. These templates allow students to complete selected exercises and problems using Excel to understand key concepts within the chapters.
 
New Opening Vignettes
 
Each chapter opens with a vignette (p. 386) on a real company situation.  The vignettes engage the reader in a business situation or dilemma, illustrating why and how the concepts in the chapter are relevant in business.  Some companies featured are:
 
  • Xerox
  • General Motors
Tiffany & Co.
 
This text is available for personalization in the PHCBR custom database program.  Select only the chapters you require or supplement with recommended case studies all under one cover.  CLICK HERE to go directly to the PHCBR book-build site or visit our product page for additional information at pearsoncustom.com/business.
 

Caracteristici noi

<>Key Changes in Brief:

Increased emphasis on Strategy, Decision-Making, and Management Accounting Concepts.  New topics, a new Framework for Decision making, and new real-world cases particularly demonstrate new emphasis.  In addition, two new Authors Madhave Rajan of Stanford and Chris Ittner of Wharton have been added to improve coverage of these topics. Detailed descriptions follow below.

MyAccountingLab System - new marketing leading investment made in MyAccountingLab Software.  Built on the rock sold MathXL technology used already by millions of students, this system helps students work, solve, and test their problem-solving abilities either as homework or in preparation for class experience.  MyAccountingLab provides help when they have difficulty, gives review and lesson plans based on their performance, and lets their instructor see detailed results of their work.  For complete information, visit www.pearson.com/myaccountinglab.  50% of the problems in Core chapters 1-13  will be available for usage August of 2008 -- with the later chapters coming for January 2009.  A Demo Cost chapter available for preview by the third week of February.

New Excel manual -- to improve students varied skills with Excel, especially in more advanced areas like Cost Accounting, this edition will offer an inexpensive Excel manual that provides step by step instruction.  This optional manual will help professors who like to use Excel in their class, but are concerned about their students' abilities.  Of course, the new edition will continue to offer other support for Excel, such as improved screen captures in the book, and sample templates for problems.

New Simplified Design -- in response to user feedback, we are offering a simplified presentation that eliminates much of the "extra" material that is in the book.  This is designed to help students focus on what is important as they read.


Detailed Changes

New Authors - Madhav Rajan of Stanford University and Chris Ittner of the Wharton School have worked with the current authors of this edition to update and improve the book. 

New Topics and Content -- Almost every chapter of this book has seen some improvement.  All updates will of course be covered in the Instructor's  Manual, Test Bank, Powerpoints, and other key supplements.  In particular, changes are:

  • Chapter 1 (p. 2) focuses on decision making (p. 5) and introduces a new five-step decision-making framework (p. 9) that is featured in many chapters of the book.  It introduces ideas of pre-decision information (p. 9) (for planning decisions) and post-decision information (p. 10) (for performance evaluation, control and learning).
  • Chapter 2 (p. 26) has been rewritten to emphasize managerial decisions.  The chapter exhibits have been completely redone so that students can follow all the concepts, steps and numbers on the exhibits themselves.
  • Chapter 3 (p. 60) has been reorganized.  It starts with an example that is then used to explain assumptions and terminology.  The managerial aspects of the chapter have been strengthened and the sections on alternative fixed cost/variable cost structures (p. 72), multiple product breakeven analysis (p. 75) and contribution margin (p.79) versus gross margin have been significantly revised and shortened.
  • Chapter 4 (p. 96) concepts are developed within the context of the five-step decision-making process introduced in Chapter 1.  This allows for a richer managerial discussion of strategy, risk, and uncertainty.  The section on normal job-costing system in manufacturing has been significantly shortened by adding a new exhibit.
  • Chapter 5 (p. 136) discusses the concepts of activity-based costing (p. 144) and activity-based management (p. 152) within a decision-making framework.  The exhibits have been redone to provide a road map to the various steps in activity-based costing and to reduce chapter length.  There is more discussion of how managers choose cost-allocation bases (p. 145) and implement activity-based costing.
  • Chapter 6 (p. 180) has been completely rewritten using a two-product example and two cost drivers in manufacturing and distribution.  Chapter 6 integrates activity-based costing ideas from Chapter 5 into the budgeting discussion by describing how product quantities lead to activities, that, in turn, lead to costs in different areas to support these activities.  The chapter frames the budgeting discussion within a decision-making framework.  More material has been added on learning (p. 183), budgetary slack, and participative budgeting (p. 184).  Exhibits have been redone to simplify the exposition.
  • Chapters 7 (p. 224) and 8 (p. 260) present a more streamlined discussion of different levels of variance analysis and tighten the links between production and sales volume variances (p. 277). 
  • Chapter 9 (p. 298) integrates the two parts of the chapter on inventory costing and denominator-level capacity concepts (p. 313) using a single comprehensive example.
  • Chapter 10 (p. 336) has greater discussion of managerial decision-making using quantitative analysis (p. 343).  The Chapter 10 Appendix includes more details on regression analysis (p. 363).
  • Chapter 12 (p. 429) includes more discussion of product and customer life-cycles.  Chapter 12 exhibits have also been streamlined.
  • Chapter 13 (p. 462) presents more discussion of strategy (p. 463) including customer preference maps.  The material on the balanced scorecard has been significantly rewritten to cover strategy maps (p. 470), departmental scorecards, tests of anticipated cause-and-effect relationships (p. 473), and performance evaluation uses of the scorecard.
  • Chapter 14 (p. 500) describes how the decision-making framework presented in Chapter 1 can be used to evaluate and manage customers (p. 508).
  • Chapter 15 (p. 540) discusses alternative methods of cost and revenue allocations (p. 542) and simplifies the example to illustrate different methods for allocating costs of multiple support departments (p. 546).
  • In Chapters 17 (p. 636) and 18 (p. 638), the sequence of the five-step procedure for process costing has been slightly revised.  The new formats and exhibits are more structured and so should ease student learning
  • Chapter 19 (p. 664) describes how theory of constraints can be implemented using a balanced scorecard (p. 684).  There is also greater discussion of the service sector. 
  • Chapter 20 (p. 698) introduces lean accounting (p. 721).  Performance measures and control in JIT production (p. 714) is discussed in the context of the balanced scorecard.
  • Chapter 22 (p. 768) adds more material on market-based (p. 776) and negotiated transfer pricing (p. 782).
 
  Framework for Decision-Making
 
The framework in this edition helps students see how the demand for various types of management accounting information is a response to the decision-making needs of managers.  Serving as a structure for discussing many management accounting concepts in later chapters, Chapter 1 presents the process by:
 
  • Identifying the problem and uncertainties
  • Obtaining information
  • Making predictions
  • Choosing among alternatives
  • Implementing the decision
  • Evaluating performance and learning
 

New Opening Vignettes
 
Each chapter opens with a vignette on a real company situation.  The vignettes engage the reader in a business situation or dilemma, illustrating why and how the concepts in the chapter are relevant in business.  Some companies featured are:
 
  • Xerox
  • General Motors
  • Tiffany & Co.