Standard Costing

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Standard Costing, Variance Analysis and Decision-Making

Author : Alexander Berger
Publisher : GRIN Verlag
ISBN 13 : 3640956281
Total Pages : 39 pages
Book Rating : 4.6/5 (49 download)

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Book Synopsis Standard Costing, Variance Analysis and Decision-Making by : Alexander Berger

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.

Cost Accounting

Author : V. Rajasekaran
Publisher : Pearson Education India
ISBN 13 : 9788131732076
Total Pages : 836 pages
Book Rating : 4.7/5 (32 download)

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Book Synopsis Cost Accounting by : V. Rajasekaran

Download or read book Cost Accounting written by V. Rajasekaran and published by Pearson Education India. This book was released on 2010-09 with total page 836 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book sets a new standard for cost accounting textbooks. It aims at equipping students with a solid grounding in the concepts of cost accounting. With rich pedagogy and an easy-to-understand approach, it meets the specific requirements of the undergraduate students of different Indian universities. This book can also be useful for the students of CA, CS, MBA and ICWA level of Indian universities.

Cost Accounting

Author :
Publisher : Academic Publishers
ISBN 13 : 9788189781507
Total Pages : 1052 pages
Book Rating : 4.7/5 (815 download)

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Book Synopsis Cost Accounting by :

Download or read book Cost Accounting written by and published by Academic Publishers. This book was released on with total page 1052 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Accounting, Costing, and Management

Author : Riad Izhar
Publisher : Oxford University Press, USA
ISBN 13 : 9780198328230
Total Pages : 516 pages
Book Rating : 4.3/5 (282 download)

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Book Synopsis Accounting, Costing, and Management by : Riad Izhar

Download or read book Accounting, Costing, and Management written by Riad Izhar and published by Oxford University Press, USA. This book was released on 2001 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: An updated edition to cover the requirements of the 2000 A Level specifications. This book is also useful as an introduction to professional accounting courses. Numerous examples and exercises.

Principles of Accounting Volume 2 - Managerial Accounting

Author : Mitchell Franklin
Publisher :
ISBN 13 : 9781680922943
Total Pages : 746 pages
Book Rating : 4.9/5 (229 download)

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Book Synopsis Principles of Accounting Volume 2 - Managerial Accounting by : Mitchell Franklin

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.

Cost Accounting: Principles And Practice

Author : Dutta
Publisher : Pearson Education India
ISBN 13 : 9788129700612
Total Pages : 884 pages
Book Rating : 4.7/5 (6 download)

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Book Synopsis Cost Accounting: Principles And Practice by : Dutta

Download or read book Cost Accounting: Principles And Practice written by Dutta and published by Pearson Education India. This book was released on 2004 with total page 884 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Manufacturing Standard Costing Practical Handbook

Author : Constance Holtzhausen
Publisher : Independently Published
ISBN 13 : 9781651302132
Total Pages : 0 pages
Book Rating : 4.3/5 (21 download)

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Book Synopsis Manufacturing Standard Costing Practical Handbook by : Constance Holtzhausen

Download or read book Manufacturing Standard Costing Practical Handbook written by Constance Holtzhausen and published by Independently Published. This book was released on 2019-12-26 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today's manufacturing industry, direct material costs can be the most significant expense, but labour cost is typically the next most significant expense of a manufacturing business, or any business, perhaps even the biggest expense. It can be devastating not to maintain a standard costing system, without which businesses cannot accurately establish the costs of their products.The Manufacturing Standard Costing Practical Handbook is aimed at all persons from the fields of controlling, production engineers and who are involved in determining standard costs for products. stress-relief management.

Cost & Effect

Author : Robert S. Kaplan
Publisher : Harvard Business Press
ISBN 13 : 9780875847887
Total Pages : 380 pages
Book Rating : 4.8/5 (478 download)

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Book Synopsis Cost & Effect by : Robert S. Kaplan

Download or read book Cost & Effect written by Robert S. Kaplan and published by Harvard Business Press. This book was released on 1998 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost and Effect is written for the general manager, and explains activity-based costing systems. It focuses on creating integrated, knowledge-based systems that provide managers with meaningful information, not just data.

Cost and Management Accounting by Dr, B. K. Mehta

Author : Dr. B. K. Mehta
Publisher : SBPD Publications
ISBN 13 : 9388724933
Total Pages : 295 pages
Book Rating : 4.3/5 (887 download)

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Book Synopsis Cost and Management Accounting by Dr, B. K. Mehta by : Dr. B. K. Mehta

Download or read book Cost and Management Accounting by Dr, B. K. Mehta written by Dr. B. K. Mehta and published by SBPD Publications. This book was released on 2020-07-03 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost Accounting 1. Cost Accounting—Meaning, Importance and Evaluation, 2. Elements of Cost and their Classification, 3. Materials Control and Valuation, 4. Labour Cost Control, 5. Expenses/Overheads, 6. Overheads—Machine-Hour Rate, 7. Single or Unit or Output Costing, 8. Calculation of Tender Price or Quotation Price, 9. Production Account or Manufacturing Account, 10. Contract Costing, 11. Process Cost Accounting, 12. Reconciliation of Cost and Financial Accounts. Management Accounting 1. Business Budgeting, 2. Budgetary Control, 3. Marginal Costing and Absorption Costing, 4. Break-Even-Point or Cost Volume Profit Analysis, 5. Standard Costing and Cost Variance Analysis, 6. Decision Accounting and Marginal Costing System. SYLLABUS Unit I : Introduction : Meaning, Objectives and Advantages of Cost Accounting, Difference between Financial, Cost and Management Accounting, Cost Concepts and Classifications, Role of Cost Accountant in an Organization. Unit II : Elements of Cost (a) Materials : Material/Inventory Control-Concept and Techniques, Accounting and Control of Purchases, Storages and Issues of Materials, Method of Pricing of Material Issues—FIFO, LIFO, Simple Average, Weighted Average, Replacement, Standard Treatment of Material Losses. (b) Overhead : Classification, Allocation, Apportionment and Absorption of Overhead. Unit III : Methods of Costing : Unit Costing-Preparation of Statement of Cost, Cost Sheet and Quotations, Contract Costing, Process Costing-Process Losses, Joint and By-products, Reconciliation of Cost and Financial Accounts. Unit IV : Budgeting and Budgetary Control : Concept of Budget and Budgetary Control, Objectives, Merits and Limitations, Types of Budgets—Sales Budget, Production Budget, Material Budget and Cash Budget, Fixed and Flexible Budget. Unit V : Standard Costing and Variance Analysis : Meaning of Standard Cost and Standard Costing, Advantages, Limitations and Applications, Variance Analysis—Meterial and Labour. UnitVI : Absorption Versus Variable Costing : Distinctive Features and Income Determination. Cost-Volume Profit Analysis : Break-even Analysis, Contribution/Sales Ratio, Margin of Safety, Angle of Incidence. Decision Making—Shut Down or Open, Import or Production, Price Determination, Key Factor—Material, Make or Buy.

Cost Accounting

Author : K. Alex
Publisher : Pearson Education India
ISBN 13 : 8131797570
Total Pages : 758 pages
Book Rating : 4.1/5 (317 download)

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Book Synopsis Cost Accounting by : K. Alex

Download or read book Cost Accounting written by K. Alex and published by Pearson Education India. This book was released on 2011 with total page 758 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost Accounting is designed to provide essential skill sets to managers for planning and controlling their business financials. Covering a wide range of topics, this book is suitable for both undergraduate and postgraduate students of business study courses offered by universities across India. It also meets the requirement of the students of CA, ICWA and CS.

Cost Accounting

Author : Dr. Saroj Kumar
Publisher : Thakur Publication Private Limited
ISBN 13 : 9389627540
Total Pages : 384 pages
Book Rating : 4.3/5 (896 download)

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Book Synopsis Cost Accounting by : Dr. Saroj Kumar

Download or read book Cost Accounting written by Dr. Saroj Kumar and published by Thakur Publication Private Limited. This book was released on 2024-05-01 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the New Syllabus of ‘University of Lucknow’ as per the semester system

Engineering Economics and Costing

Author : Mishra Sasmita
Publisher : PHI Learning Pvt. Ltd.
ISBN 13 : 8120341678
Total Pages : 339 pages
Book Rating : 4.1/5 (23 download)

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Book Synopsis Engineering Economics and Costing by : Mishra Sasmita

Download or read book Engineering Economics and Costing written by Mishra Sasmita and published by PHI Learning Pvt. Ltd.. This book was released on 2011-08 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: This substantially revised and updated edition of Engineering Economics and Costing continues to build on the fundamental principles and applications of the subject. Divided into three parts: Part I, Engineering Economics; Part II, Financial System; and Part III, Cost Accounting, the text discusses, in a simple and easy-to-understand language, such topics as interest formulas and their applications, and various methods, for example, the present worth method of comparison, future worth method, annual equivalent method, and the rate of return method. It also includes, in its Appendix, interest tables for a wide range of interest rates (0.25-50%) and for a period ranging from one year to 100 years. These tables, along with the topics discussed, will help students of both Engineering and MCA in evaluating engineering projects. What is New to This Edition: Chapter 2 gives a distinction between Microeconomics and Macroeconomics. Chapter 2 also explains the concept of income elasticity, cross elasticity of demand, and elasticity of substitution. At the end Chapter 3, a variety of simple numerical problems with solutions are given to illustrate the concepts discussed. Chapter 8 provides more examples illustrating the various aspects of break-even analysis. While the book is intended primarily as a text for B.Tech. and MCA courses of Biju Patnaik University of Technology (BPUT), Orissa, it would also be highly useful for BE/B.Tech. students of other universities/institutes. Besides, practising engineers and project consultants making economic decision analysis would find this well-organized book immensely valuable. What the Reviewer Says: The book is very clear in exposition of the concepts and theories of Economics. I am confident that it will be extremely helpful to the engineering students. --Dr. NIRMAL CHANDRA SAHU Professor, Postgraduate Department of Economics Berhampur University, Orissa

Cost and Management Accounting

Author : Dr. B. K. Mehta
Publisher : SBPD Publications
ISBN 13 : 9382883940
Total Pages : 790 pages
Book Rating : 4.3/5 (828 download)

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Book Synopsis Cost and Management Accounting by : Dr. B. K. Mehta

Download or read book Cost and Management Accounting written by Dr. B. K. Mehta and published by SBPD Publications. This book was released on 2016-12-13 with total page 790 pages. Available in PDF, EPUB and Kindle. Book excerpt: The eBooks is authored by proficient Teachers and Professors. The Text of the eBooks is simple and lucid. The contents of the book have been organised carefully and to the point.

Taxmann's Strategic Cost Management – Quintessential textbook covering traditional and modern techniques for cost management across 38 chapters blending theoretical and practical learning

Download Taxmann's Strategic Cost Management – Quintessential textbook covering traditional and modern techniques for cost management across 38 chapters blending theoretical and practical learning PDF Online Free

Author : Ravi M Kishore
Publisher : Taxmann Publications Private Limited
ISBN 13 : 9357784713
Total Pages : 41 pages
Book Rating : 4.3/5 (577 download)

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Book Synopsis Taxmann's Strategic Cost Management – Quintessential textbook covering traditional and modern techniques for cost management across 38 chapters blending theoretical and practical learning by : Ravi M Kishore

Download or read book Taxmann's Strategic Cost Management – Quintessential textbook covering traditional and modern techniques for cost management across 38 chapters blending theoretical and practical learning written by Ravi M Kishore and published by Taxmann Publications Private Limited. This book was released on 2024-01-19 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a comprehensive and authentic textbook for those seeking a thorough understanding of strategic cost management in the modern business environment. It emphasises the importance of cost consciousness in the competitive business world, highlighting its role in the survival and sustainability of business concerns. Structured into 38 well-organised chapters, the textbook discusses traditional and modern cost management techniques, ensuring a broad and updated coverage of the subject matter. Special attention is given to Operations Research, simplifying complex topics like Simulation Modeling, Learning Curve Theory, Assignment Problems, Transportation Problems, Linear Programming, and Network Analysis for easier student comprehension. This book is tailored for students and professionals in higher-level business management courses. It is particularly beneficial for those preparing for M.Com., MBA, MFM, CA, CMA, and CS courses. The Present Publication is the 5th Edition, authored by Ravi M. Kishore, with the following noteworthy features: • [Simple & Lucid Language] The content is presented to simplify complex concepts, making it accessible to students and professionals alike • [Illustrations & Diagrams] The concepts within are elucidated through a multitude of illustrations and diagrams, making complex and advanced subjects more accessible • A significant focus is given to Operations Research, presented in an easy-to-understand manner • [Theory Questions] are included at the end of each chapter to aid in self-testing and reinforce learning • [Practical Problems] Each chapter is fortified with numerous solved practical problems for self-study, enhancing the hands-on learning experience The detailed contents of the book are as follows: • Overview of Strategic Cost Management • Cost Concepts for Decision-Making • Incremental, Relevant and Opportunity Cost Concepts • Activity-Based Cost System • Target Costing • Backflush Accounting and Resource Consumption Accounting • Throughput Accounting • Breakeven and Volume – Cost-Profit Analysis • Application of Marginal Costing Technique • Cost Control Through Standard Costing • Cost Management with Setting Budgets • Product Pricing – Methods and Strategies • Responsibility Accounting and Divisional Profitability • Interdivisional Transfer Pricing • Management of Marketing and Distribution Cost • Productivity Management • Capacity Management • Employee Training, Relocation and Cost of Strike • Pareto Analysis and Theory of Constraints • Just In Time and Lean Manufacturing • Quality Management – Systems and Techniques • Project Life Cycle Costing • Product Life Cycle Costing • Balanced Score Card • Business Process Outsourcing • Benchmarking • Value Chain Analysis • Supply Chain Management • MRP, MRP II and ERP • Management Information Systems • Uniform Costing and Interfirm Comparisons • Cost Audit and Management Audit • Simulation Modelling • Learning Curve Theory • Network Analysis (PERT and CPM) • Assignment Problem • Transportation Problem • Linear Programming • Mathematical Tables

Cost Accounting with Quick Revision (For CA-IPC, Group-I), 8th Edition

Author : Tulsian P.C. & Tulsian Bharat
Publisher : S. Chand Publishing
ISBN 13 : 9352533364
Total Pages : 1016 pages
Book Rating : 4.3/5 (525 download)

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Book Synopsis Cost Accounting with Quick Revision (For CA-IPC, Group-I), 8th Edition by : Tulsian P.C. & Tulsian Bharat

Download or read book Cost Accounting with Quick Revision (For CA-IPC, Group-I), 8th Edition written by Tulsian P.C. & Tulsian Bharat and published by S. Chand Publishing. This book was released on with total page 1016 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost Accounting for CA/IPCC (Group 1)& Quick Revision

Wiley GAAP

Author : Steven M. Bragg
Publisher : John Wiley & Sons
ISBN 13 : 0470554398
Total Pages : 1369 pages
Book Rating : 4.4/5 (75 download)

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Book Synopsis Wiley GAAP by : Steven M. Bragg

Download or read book Wiley GAAP written by Steven M. Bragg and published by John Wiley & Sons. This book was released on 2010-09-21 with total page 1369 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most practical, authoritative guide to GAAP Wiley GAAP 2011 contains complete coverage of all levels of GAAP, now indexed to the new ASC. Wiley GAAP renders GAAP more understandable and accessible for research, and has been designed to reduce the amount of time and effort needed to solve accounting research issues. Provides interpretive guidance and a wealth of real-world, content-rich examples and illustrations Offers insight into the application of complex financial reporting rules Contains detailed index for easy reference use Includes a comprehensive cross-reference of accounting topics to the new FASB codification system Offers clear, user-friendly guidance on every pronouncement including FASB Technical Bulletins, AcSEC Practice Bulletins, FASB Implementation Guides, AICPA Statements of Position, and AICPA Accounting Interpretations Other titles by Epstein and Nach: Wiley GAAP Codification Enhanced Other titles by Bragg: Wiley Practitioner's Guide to GAAS 2010 With easy-to-access information, this practicable and reliable resource offers complete coverage of the entire GAAP hierarchy.

A Textbook of Cost and Management Accounting, 11th Edition

Author : Arora M.N.
Publisher : Vikas Publishing House
ISBN 13 : 9390470501
Total Pages : pages
Book Rating : 4.3/5 (94 download)

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Book Synopsis A Textbook of Cost and Management Accounting, 11th Edition by : Arora M.N.

Download or read book A Textbook of Cost and Management Accounting, 11th Edition written by Arora M.N. and published by Vikas Publishing House. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A Textbook of Cost and Management Accounting provides the students with thorough grounding in cost concepts, cost behaviour and methods, and techniques of cost and management accounting with an understanding of the uses and limitations of cost and financial data for managerial operations. The text of the subject matter has been presented in a student-friendly, simple and intelligible manner. Every discussion involving conceptual complexity is immediately illustrated by a numerical example. In addition, the book contains a liberal sprinkling of charts and diagrams so as to make the subject easily understandable and highlight its finer points. The subject matter has been organized on 'first things first' basis for its logical presentation that sustains interest. The approach of the book is examination oriented. Thus, a good number of problems and solutions have been included in its chapters. Theoretical and numerical questions have been mostly selected from various examinations. Objective type questions have been given to serve as self-test by students. This is an ideal book for self-study. An all-inclusive, ideal book for self-study, both for the students of Cost and Management Accounting as well as working professionals.