Barfield Raiborn Kinney - Cost Accounting Traditions And Innovations docx

... development of cost and management accounting standards and Chapter 1 Introduction to Cost and Management Accounting in a Global Business Environment 7 3 Robert B. Hubbard, “Return of the Cost Accounting ... need to un- derstand how much their services cost so that they can determine whether it is cost- effective to be engaged in particular business activities. Management...

Ngày tải lên: 28/06/2014, 09:20

... financial accounting information is useful to managers in performing their daily functions. Cost accounting creates an overlap between financial accounting and man- agement accounting. Cost accounting ... Orleans] The Times-Picayune (April 27, 1999), pp. C-1, 10. intellectual capital http://www.Rolls-Royce .com policy and especially wary of price-fixing, bribery, kick-backs,...

Ngày tải lên: 02/07/2014, 22:21

... are used to measure and evaluate the decision maker’s performance. Techniques such as relevant costing, quality cost management, job order and process costing, and cost- volume-profit analysis, ... as hav- ing six primary goals: (1) develop reasonably accurate product costs, especially through the use of cost drivers (activities that have direct cause -and- effect rela- tionships w...

Ngày tải lên: 02/07/2014, 22:21

... unexpired costs (assets) and eq- uities (liabilities and owners’ capital); the income statement is a statement of rev- enues and expired costs (expenses and losses). The concept of matching revenues and ... distribution costs are expensed as incurred, managers should remember that these costs relate directly to products and services and should not adopt an “out-of-sight, out-of-...

Ngày tải lên: 02/07/2014, 22:21

... multiple cost pools at a variety of levels (unit, batch, product, and organizational) and then allocates these costs using multiple cost dri- vers (both volume- and non-volume-related). Thus, costs ... their cost sys- tems and implement activity-based costing. Two-Step Allocation After being recorded in the general ledger and subledger accounts, costs are ac- cumulated in acti...

Ngày tải lên: 02/07/2014, 22:21

... under both cost- plus and fixed- price contracts have an incentive to shift costs from the fixed-price to the cost- plus contracts? b. From an ethical perspective, do you feel such cost shifting ... standards are developed for direct mate- rial and direct labor quantities and/ or costs. Overhead is applied to production us- ing a predetermined rate that is considered the standard. Th...

Ngày tải lên: 02/07/2014, 22:21

... system? 5 PROCESS COSTING WITH STANDARD COSTS Companies may prefer to use standard rather than actual historical costs for in- ventory valuation purposes. Actual costing requires that a new production cost ... for standard process costing are identical to those of FIFO process costing. Unlike the weighted average method, the emphasis of both standard costing and FIFO are on the measuremen...

Ngày tải lên: 02/07/2014, 22:21

... allows cost and man- agement accountants to better track the costs flowing into the problem areas, estimate the opportunity costs associated with the problems, and perform a more informed cost- benefit ... direct material and for con- version assuming a FIFO cost flow. b. If the costs per equivalent unit are $2.50 and $4.50 for direct material and conversion, respectively, what...

Ngày tải lên: 02/07/2014, 22:21

... value-added (VA) and non-value-added (NVA) cate- gories. Value-added activities increase the worth of the product or service to the customer; non-value-added activities consume time and costs ... manufacturing and sell- ing high-quality products? 49. (Cost of quality) Golf courses are demanding in their quest for high-quality carts because of the critical need for lawn maintenance. Rid...

Ngày tải lên: 02/07/2014, 22:21

... Allocation for Joint Products and By-Products 357 ACCOUNTING FOR BY-PRODUCTS AND SCRAP Because the distinction between by-products and scrap is one of degree, these cate- gories have been discussed ... departments: (1) Re- ceiving and Separating and (2) Slicing and Bottling. Part 2 Systems and Methods of Product Costing 374 Another presentation shows by-product/scrap revenue o...

Ngày tải lên: 02/07/2014, 22:21