Download or read book Advanced Cost Accounting Cost System Costs for Decision Making Activity Based Costing written by Prin. Dr. Nitin L. Ghorpade and published by Success Publication. This book was released on 2023-08-01 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Costs for Decision Making & Activity-Based Costing in business management analyzes expenses to aid strategic decisions, allocating costs based on activities, enhancing cost accuracy, and profitability.
Download or read book Advanced Cost Accounting written by J. K. Mitra and published by New Age International. This book was released on 2009 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Activity Based Costing written by Patrick Zeuner and published by GRIN Verlag. This book was released on 2012-06 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2007 in the subject Business economics - Controlling, grade: 1,3, University of Applied Sciences Wildau (WIT Wildau), course: Managerial Accounting, 18 entries in the bibliography, language: English, abstract: Activity-based costing first gained publicity in the early 1980s. It was developed as a logical alternative to traditional cost management systems that tended to produce insufficient results when it came to allocating costs. Harvard Business School Professor Robert S. Kaplan was an early advocate of the ABC system. Due to a changing business world and strong competition, the cost structure in many companies changed, while facing an increased price pressure. When profit margins are decreasing, companies are focusing not only on external but also internal opportunities to improve their cost structures and to make hidden costs transparent. This lead to the introduction of Activity-based costing (ABC) as a new approach of process thinking to make the internal organization more flexible to react to changes in the production process and allocation of costs as well as to deal with overcapacities. This paper will focus on the ABC tool, which is aiming at transparency, efficiency increase and improvement of the given cost calculation systems. The ABC method enables management to optimize the enterprise with detailed information for a thorough decision making process. ABC is a method for developing cost estimates, based on the activities used within the production process per cost object. To develop a cost estimate the most important activities within the production cycle - the cost drivers - need to be identified. The activity must be definable and measured in units, e.g. number of man hours. After all activities for producing the product are known, a cost estimate is prepared for each activity. These individual cost estimates contain all labour, materials and equipment costs, including overhead, for each activity. Each complete individual e
Download or read book Activity based Costing written by Patrick Zeuner and published by GRIN Verlag. This book was released on 2008-06-02 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2007 in the subject Business economics - Controlling, grade: 1,3, University of Applied Sciences Wildau (WIT Wildau), course: Managerial Accounting, language: English, abstract: Activity-based costing first gained publicity in the early 1980s. It was developed as a logical alternative to traditional cost management systems that tended to produce insufficient results when it came to allocating costs. Harvard Business School Professor Robert S. Kaplan was an early advocate of the ABC system. Due to a changing business world and strong competition, the cost structure in many companies changed, while facing an increased price pressure. When profit margins are decreasing, companies are focusing not only on external but also internal opportunities to improve their cost structures and to make hidden costs transparent. This lead to the introduction of Activity-based costing (ABC) as a new approach of process thinking to make the internal organization more flexible to react to changes in the production process and allocation of costs as well as to deal with overcapacities. This paper will focus on the ABC tool, which is aiming at transparency, efficiency increase and improvement of the given cost calculation systems. The ABC method enables management to optimize the enterprise with detailed information for a thorough decision making process. ABC is a method for developing cost estimates, based on the activities used within the production process per cost object. To develop a cost estimate the most important activities within the production cycle – the cost drivers - need to be identified. The activity must be definable and measured in units, e.g. number of man hours. After all activities for producing the product are known, a cost estimate is prepared for each activity. These individual cost estimates contain all labour, materials and equipment costs, including overhead, for each activity. Each complete individual estimate is added to the others to obtain an overall estimate. To gain sufficient cost estimates, data must be collected and verified to make ABC a functional and precise tool. This chapter leads through the necessary steps to implement the ABC approach and its methodology.
Download or read book Costing Methods for Decision Making written by Tacis Technical Dissemination Project and published by . This book was released on 1997 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Activity based Cost Management Making it Work written by Gary Cokins and published by Irwin Professional Pub. This book was released on 1996 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: What good are the facts and figures of managerial accounting if the people who need them can't use them? More and more organizations are realizing that activity based costing is a superior method for both identifying improvement opportunities and measuring the realized benefits of performance initiatives. ABC data helps you see that time, quality, capacity, flexibility, and cost are interconnected and also allows you to navigate through management fads and into the faster currents of high-payback performance. ABC offers a superior product and service costing technique with substantially more realistic cost assignments and much greater accuracy. It gives you better insights to manage your product design and manage costs. It can even be used for performance measurements. ABC represents a significant change in corporate systems and can be challenging to implement. Activity-Based Cost Management: Making It Work will walk you through the process so you can overcome barriers and successfully implement ABC. Activity-Based Cost Management: Making It Work doesn't just explain what ABC is, it shows you the mathematical calculations that support ABC and how you can implement ABC into your organization.
Download or read book Cost Accounting A Decision oriented Approach written by Gunther Friedl and published by World Scientific. This book was released on 2022-11-08 with total page 632 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzing and managing costs is crucial for business success. Industrial, service, and non-profit companies will not be successful in the long-term if they do not understand their costs.This textbook introduces the basic concepts and current developments in cost accounting. The book features numerous anecdotal examples from a wide range of industries, case studies, Microsoft Excel examples, and exercises to ensure a sustainable learning success.
Download or read book Essentials of Cost Management written by Catherine Stenzel and published by John Wiley & Sons. This book was released on 2003-01-24 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: An accessible, practical survey of cost management methods Essentials of Cost Management provides an unbiased survey and explanation of the cost management approaches and methods currently available for immediate application in day-to-day activities. Rather than advocate a particular method, this book assists readers in choosing the best approach or blend of cost management strategies to address specific business problems. The expert authors also discuss cutting-edge topics such as target costing, capacity management, and activity-based costing/management.
Download or read book Updating Standard Cost Systems written by Carole B. Cheatham and published by Praeger. This book was released on 1993-03-24 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new manufacturing environment requires new cost-accounting systems as well as new technology. While some authorities have advocated installing new and untried systems, the authors of this book recommend updating the standard cost system which 85 percent of manufacturing firms have in place. Updating the present system can achieve greater benefits in terms of providing information to managers for decision making. It also allows the organization to avoid disruption to the corporate culture and the cost associated with a new system. The authors show how standard cost systems can be redesigned to measure factors recognized to be important in today's manufacturing environment such as quality, production levels, and throughput. They demonstrate how standard cost systems can foster continuous improvement through dynamic rather than static standards. After examining characteristics of the new manufacturing environment and benefits of upgrading the cost system, ways to update the traditional standard cost system are discussed. Revisions include a unique input-output method of variance analysis, specific metrics related to manufacturing performance, ways to identify cost drivers, and use of dynamic standards. The authors demonstrate how to redesign the information-gathering and reporting system as new manufacturing procedures are put in place. They discuss ways that marketing activities are affected and how to plan plant and equipment expenditures in an automated environment. This book is directed primarily towards accountants and managers needing to improve informational content of accounting data for decision-making purposes. It should also be beneficial to any person within the business firm who either supplies data of this type or uses it, such as project analysts, controllers, managers, and even management trainees. Academicians teaching cost and managerial accounting as well as those teaching production management and financial decision-making courses should find it beneficial as a text supplement or as a primary text in courses dealing with current problems in today's changing manufacturing environment.
Download or read book Designing Strategic Cost Systems written by Lianabel Oliver and published by John Wiley & Sons. This book was released on 2004-06-28 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering a multidisciplinary roadmap for the design, development, and implementation of a strategic cost system, this book shows how to design a cost system to become a more effective decision-making tool and a source of competitive advantage for the organisation. It describes how to structure a cost systems design project and discuss the issues that should be addressed upfront from a management, operations, and costing perspective. Includes a URL site containing key terms and helpful Excel templates. Highlights the logistics of putting together and managing the project team. Addresses the technical and political issues that may arise as the project unfolds.
Download or read book Cost Accounting for Management Decisions written by Patel Bhavesh M and published by Allied Publishers. This book was released on 1997 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Principles of Accounting Volume 2 Managerial Accounting written by Mitchell Franklin and published by . This book was released on 2019-02-14 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: A less-expensive grayscale paperback version is available. Search for ISBN 9781680922936. Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. Each chapter opens with a relatable real-life scenario for today's college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes. Students are immersed in the "why" as well as the "how" aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization.
Download or read book Emerging Practices in Cost Management written by Barry J. Brinker and published by Warren Gorham & Lamont. This book was released on 1994 with total page 854 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cost Accounting written by Azhar Ul Haque Sario and published by Azhar UL Haque Sario. This book was released on 2023-08-02 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost Accounting: Workbook is a comprehensive guide designed to provide readers with a deep understanding of cost accounting concepts and practical calculations. Written by an expert in the field, this workbook covers a wide range of topics, making it an essential resource for students and professionals alike. The book begins with an exploration of Direct Costs, explaining their significance in cost accounting and providing practical examples for better comprehension. It then delves into other types of costs, such as Indirect Costs, Fixed Costs, Variable Costs, and Opportunity Costs, offering theoretical explanations and computation-based problems to reinforce learning. Readers will also gain valuable insights into Cost Allocation, Job Order Costing, and Process Costing, with each topic accompanied by practical problems that encourage hands-on application. Advanced concepts like Activity-Based Costing, Variable and Absorption Costing, and Cost-Volume-Profit Analysis are explained in an easy-to-understand manner, ensuring readers grasp the intricacies of these topics. Furthermore, this workbook explores the role of cost accounting in strategic decision-making and organizational planning. It covers Budgeting, Standard Costs and Variance Analysis, and Strategic Decision-Making Costs, providing a comprehensive understanding of how cost accounting influences business decisions. The latter sections of the workbook focus on Cost Control and Performance Measurement, as well as Cost Accounting Systems. Readers will have the opportunity to apply their knowledge through a series of practical problems, allowing them to develop their skills in a real-world setting.
Download or read book Activity Based Cost Management written by Gary Cokins and published by Wiley. This book was released on 2002-04-22 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proven strategy for reducing production and operating costs while increasing profits As the growth of the Internet shifts power to consumers, the pressure on companies to keep prices low will continue to mount. Increasingly corporations are relying on "margin management" and supply chain management as a means of keeping prices low while raising profits. Activity-based costing and management (ABC/M) data is key to succeeding in both these critical management strategies. This book explains how executives can effectively use the information furnished by cutting-edge ABC/M systems. The author, an acknowledged expert in the field, clearly defines the ABC/M system and explains how to use the information it provides for best results. He provides a rational framework for understanding the fifteen key defining characteristics of ABC/M and arms readers with an ABC/M Readiness Assessment test along with extremely user-friendly exhibits.
Download or read book Cost Accounting written by Nicholas Dopuch and published by . This book was released on 1969 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Activity Costing for Decisions written by George J. Staubus and published by Facsimiles-Garl. This book was released on 1988 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:
