Download or read book Standard Costing and Variance Analysis as Management Tools for Manufacturing Cost Controls written by Mokrane Fenek and published by . This book was released on 1982 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Standard Costing Variance Analysis and Decision Making written by Alexander Berger and published by GRIN Verlag. This book was released on 2011-07-12 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2011 in the subject Business economics - Accounting and Taxes, grade: 63%, University of Sunderland, course: Management Accounting and Control, language: English, abstract: This report is divided into two parts. The first part will explain how a standard costing system works and how a variance analysis is used properly. Furthermore, the statement “Standard Costing and Variance Analysis are appropriate to any type and size of organisation” will be critically evaluated. The second part determines factors, which must be considered in the decision-making process. In addition, four scenarios of decisions will be provided and analysed. One of the main objectives of an organisation is to minimise the cost of production and to control the costs as they are limited resources within a business (Gupta, 2010). Management accounting literature provides several tools in order to achieve these objectives. In this context, the system for collecting and reporting revenue and cost information by areas of responsibility is called responsibility accounting (Siegel & Shim, 2006). It is based on the assumption that managers should be held responsible for their performance. A well-designed responsibility accounting system integrates responsibility centers within the organisation. In addition, responsibility centers are units within the organization, which have control over costs and revenues (Siegel & Shim, 2006). There are different types of responsibility centers such as profit centers, investment centers, revenue centers and cost centers. In the following report, the focus is on cost centers. Here, a variance analysis based on standard costing is a performance measure of a cost center (Siegel & Shim, 2006). In addition, a standard costing system is a useful tool facilitating decision-making.
Download or read book Basic Standard Costs written by Eric A. Camman and published by . This book was released on 1932 with total page 290 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 Cost Control as a Management Tool in Industry written by Eldon Sende Hendriksen and published by . This book was released on 1947 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cost Accounting for Small Manufacturers written by Richard Lee Brummet and published by . This book was released on 1979 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Standard Costs and Variance Analysis written by National Association of Accountants and published by Institute of Management Accountants. This book was released on 1974 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cheng ben kong zhi yu cheng ben yi jian Meiguo gong shang jie zhi jing yan written by 朱國璋 and published by . This book was released on 1966 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 CIMA Official Learning System Management Accounting Risk and Control Strategy written by Paul M. Collier and published by Elsevier. This book was released on 2008-09-11 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2009 edition of CIMA's Official Learning Systems has been written in conjunction with the Examiner to fully reflect what could be tested in the exam. Fully revised and now in 2 colour, paperback format the 2009 Learning Systems provide complete study material for the May and November 2009 exams. This edition includes: * practice questions throughout * complete revision section * topic summaries * recommended reading articles from a range of journals * Q & A's CIMA Learning Systmes are the only study materials endorsed and recomended by CIMA * The Official Learning Systems are the only study materials endorsed by CIMA * Fully revised with new examples and case studies * Written by the Examiner * Complete integrated package incorporating syllabus guidance, full text, recommended articles, revision guides and extensive question practice
Download or read book Journal of Cost Management for the Manufacturing Industry written by and published by . This book was released on 1991 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cost and Management Accounting Fundamentals and its Applications written by Gill Suveera and published by Vikas Publishing House. This book was released on with total page 801 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Third edition is the updated version of the book as per the latest CBCS syllabus.
Download or read book Cost Controls for Industry written by Thomas S. Dudick and published by . This book was released on 1976 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Realistic Cost Estimating for Manufacturing 3rd Edition written by Michael Lembersky and published by SME. This book was released on 2016-01-04 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most effective way to generate an estimate of a new product’s cost engineering change cost, or innovation cost is through a detailed cost investigation. Analysis of the available materials and processes leads to the most economical and financial decisions. Now in its third edition, Realistic Cost Estimating for Manufacturing has been used by students and practitioners since 1968 in this endeavor. Revised and expanded, the book recognizes the extremely important role estimating is playing in today’s highly competitive global economy. Realistic Cost Estimating for Manufacturing provides a survey of the myriad manufacturing processes and practices and combines this with in-depth explanations and examples of costing methods and tools. A comprehensive, standardized approach to their application is given. Among the manufacturing processes surveyed are: machining, casting, stamping, forging, welding, plastics technology, finishing, and rapid prototyping. To develop realistic baseline estimates, an engineering or costing professional must have an in-depth understanding of costing methods and techniques. As a fundamental reference, the book provides insight into the art, science, and functions of cost estimation in a wide range of activities: product design and manufacturing, engineering change control, proposal development, make or buy studies, identifying cost reduction opportunities, component costing, reverse engineering, benchmarking, and examining alternative processes, materials, machines, and tooling. As examples, it will aid the practitioner in efforts to justify the replacement or improvement of existing technology with new creative solutions; perform a feasibility study; develop a basis for cost-oriented decision support; improve supply chain evaluation and sourcing analysis; and minimize costs. The third edition has been greatly enhanced with new chapters and material dedicated to the roles of economics and finance, cost reduction, continuous improvement, plastic parts, electronics cost estimating, costing studies, advanced manufacturing processes, and quality costs. Further, the existing chapters have been significantly expanded to include new processes and operations and examples to enhance learning. Since nontraditional technology is widely applied in manufacturing, its costing aspects are also explored. Five Appendices provide additional information on productivity based on efficiency, cost reduction, matching part features to manufacturing processes, packaging cost, and inspection and measurement costs. As with its previous editions, instructors of cost estimating courses can rely on the book to provide a solid foundation for manufacturing engineering courses and programs of study. The book is also useful for on-the-job training courses for engineers, managers, estimators, designers, and practitioners. It can be applied in seminars and workshops specifically dedicated to product or component cost reduction, alternative cost analysis, engineering change cost control, or proposal development. As in the previous editions, there are multiple equations and calculation examples, as well as end-of-chapter questions to test student’s knowledge. An instructor’s guide is also available.
Download or read book Management Accounting theory and practice written by M P Pandikumar and published by Excel Books India. This book was released on 2009 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cost Accounting written by Adolph Matz and published by . This book was released on 1962 with total page 904 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cases in Management Accounting and Control Systems written by Brandt R. Allen and published by Prentice Hall. This book was released on 2005 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written to create a collection of teaching cases that are interesting, thought-provoking and relevant to contemporary business situations and decisions, this book advocates broadening and strengthening the management dimensions of management accounting and control courses--doing so without sacrificing essential accounting content. Challenging yet concise cases are presented in a manner that minimizes reader preparation requirements. Topics and materials demonstrate how costs, cost analysis, and planning and performance measurement can be useful to managers in making operating and strategic decisions. This edition includes cases intended to build a foundation of basic concepts like cost behaviors, standard costing, and relevant costs. It also includes cases intended to address more comprehensive and complex issues such as activity-based thinking, balanced scorecards, transfer pricing, the use of ROI versus Residual Income to measure performance, flexible budgeting, and revenue and expense variance analysis. For anyone in management accounting, cost accounting, strategic cost management, and/or management control systems professions.
