Cost And Management Accounting Fundamentals And Its Applications

Author : Ibrahim Ganiyu
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781515264835
Total Pages : 630 pages
Book Rating : 4.2/5 (648 download)

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Download or read book Cost and Management Accounting Fundamentals written by Ibrahim Ganiyu and published by Createspace Independent Publishing Platform. This book was released on 2018-01-19 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: Topics covered: uses of cost and management accounting information, Cost classification, overhead costs allocation and apportionment, Traditional costing methods (marginal and absorption costing methods), Activities based costing (ABC) method, Cost behaviour and statistical techniques (high-low method and regression analysis techniques), Accounting for materials (order levels, EOQ, EBQ, FIFO, LIFO WA), Accounting for labour, Job and batch costing, Process costing, joint-products and by-product costing, Short-term decision making: relevant costing technique, Short-term decision making: limiting factor (ranking method and linear programming), Cost-volume-analysis (CVP analysis), Pricing decision, Long-term decision-making techniques (payback methods, ARR, NPV and IRR), Budgeting, Standard costing and basic variance analysis. My experience as a university lecturer in multi-cultural environments (England) shows that most students always dread this area of their study before the classes' start, which actually surprises me because I found this area of study interesting during my study days and as a lecturer. But quite remarkably, at the end of the semester, with my systematic analysis, my students end up liking the course, and it becomes a favourite course to them in all institutions where I have worked. Hence I decided to publish my lecture notes in the form of a textbook. The ultimate aim of this book is to: "Provide students with knowledge, skills and confidence required in understanding cost and management accounting for both accounting and non-accounting students at the university degree and professional examination levels." The primary focus is to discuss fundamentals of costing to form a solid foundation to management accounting courses at undergraduate, post-graduate and professional examination levels. The areas covered are presented in clear English language with clear and helpful layouts and formats on how to solve questions on a systematic and consistent basis. Accounting students hoping to progress to professional examinations after university often faced a daunting challenge. From my experience of delivering lectures on ACCA and CIMA professional studies, graduates do struggle with and are even afraid to start the professional exams. Some good and confident graduates that start their professional exam are often disappointed to know that they are short of knowledge required at that level and always have to do extra work. It is also the aim of this textbook to bridge the gap between academic and professional studies by explaining fundamental rules and principles in a more practical manner using professional examination questions to illustrate all the fundamental knowledge discussed, hereby exposing students to professional exams and linking their academic knowledge to the professional environment. I sincerely hope that this book will be of great help to undergraduate, post-graduate and professional exam students.