管理会计 英文版 第8版PDF电子书下载

1 Manager?al Accounting and the Business Environment 2

Planning 4

The Work of Management and the Need for Managerial Accounting lnformation 4

Controlling 5

Directing and Motivating 5

The End Results of Manogers Activities 6

Comparison of Financial and Managerial Accounting 7

The Planning and Control Cycle 7

Generally Accepted Accounting Principles(GAAP) 8

Segments of an Organization 8

Emphasis on the Future 8

Relevance and Flexibility of Data 8

Less Emphasis on Precision 8

Expanding Role of Managerial Accounting 9

Managerial Accounting-Not Mandatory 9

Just-in-Time(JIT) 10

The Changing Business Environment 10

Total Quality Management(TQM) 15

Process Reengineeting 18

The Theory of Constraints(TOC) 20

Automation 20

Infernational Competition 23

Decentralization 24

Organizational Structure 24

Line and Staff Relationships 25

Professional Ethics 26

The Controller 26

Company Codes of Conduct 27

Code of Conduct for Management Accountants 27

Codes of Conduct on the International Level 29

Summary 30

The Certified Management Accountant（CMA） 30

Key Terms for Review 31

Exercises 33

Questions 33

Problems 35

Group Exercises 38

PART 1 THE FOUNDATION:Cost Behowior，and Systems Design 41

2 Cost Terms，Concepts，and Classifications 42

General Cost Classifications 44

Manufacturing Costs 45

Nonmanufacturing Costs 46

Product Costs 47

Period Costs 47

Period Costs versus Product Costs 47

Cost Classifications on Financial Statements 48

The Balance Sheel 49

The lncome Statement 50

Schedule of Cost of Goods Manufactured 51

Product Costs-A Closer Look 52

An Example of Cost Flows 54

Inventoriable Costs 54

Cost Classifications for Predicling Cost Behavior 55

Variable Cost 56

Fixed Cost 57

Indirect Cost 58

Direct Cost 58

Cost Classifications for Assigning Costs to Cost Objects 58

Differential Cost and Revenue 59

Cost Classifications for Decision Making 59

Oppartunity Cost 60

Summary 61

Sunk Cost 61

Review Problem 1：Cost Terms 62

Review Problem2：Schedule of Cost of Goods Manufactured and Income Statement 63

Key Terms for Review 64

Appendix 2A：Further Classification of Labor Costs 65

Questions 67

Exercises 68

Problems 71

Cases 78

Group Exercises 79

3 Systems Design：Job-Order Costing 82

Process Costing 84

Types of Costing Systems 84

The Need for Unit Product Cost Data 84

Job-Order Costing 85

Job-Order Costing-An Overview 86

Summary of Costing Methods 86

Measuring Direct Materials Cost 87

Job Cost Sheet 88

Measuring Direct Labor Cost 89

Application of Manufacturing Overhead 90

Computation of Unit Costs 93

Choice of an Allocation Base for Overhead Cost 93

The Purchase and Issue of Materials 95

Job-Order Costing-The Flow of Costs 95

Summary of Document Flows 95

Manufacturing Overhead Costs 98

Labor Cost 98

The Application of Manufacturing Overhead 99

Cost of Goods Manufactured 101

Nonmanufacturing Costs 101

Summary of Cost Flows 102

Cost of Goods Sold 102

Underapplied and Overapplied Overhead 106

Problems of Overhead Application 106

Disposition of Under-or Overapplied Overhead Balances 107

A General Model of Product Cost Flows 108

Multiple Predetermined Overhead Rates 109

Use of Bar Code Technology 110

Job-Order Costing in Service Companies 110

Review Problem：Job-Order Costing 112

Summary 112

Questions 115

Key Terms for Review 115

Exercises 116

Problems 121

Coses 132

Group Exercises 135

4 Systems Design：Process Costing 138

A Perspective of Process Cost Flows 141

Differences between Job-Order and Process Costing 141

Comparison of Job-Order and Process Costing 141

Similarities between Job-Order and Process Costing 141

Processing Departments 142

The Flow of Mafterials，Labor，and Overhead Costs 143

Materials，Labor，and Overhead Cost Entries 144

Equivalent Units of Production 147

Weighted-Average Method 148

Production Report-Weighted-Average Method 149

Step2：Compute the Total and Unit Costs 151

Step1：Prepare a Quanlity Schedule and Compute the Equivalent Units 151

Step3：Prepare a Cost Reconciliation 152

A Comment about Rounding Errors 154

Operation Costing 155

Review Problem：Process Cost Flows and Reports 156

Summary 156

Key Terms for Review 158

Appendix 4A：FIFO Method 159

Questions 165

Exercises 166

Problems 169

Cases 175

Group Exercises 176

5 Systems Design：Activity-Based Costing and Quality Management 178

Level One：Plantwide Overhead Rate 180

The Concept of Activity-Based Costing 180

Level Two：Deparlmental Overhead Rates 181

Level Three：Activity-Based Costing 182

Process Value Analysis(PVA) 183

Design of an Activity-Based Costing System 183

Idenlifying Activily Centers 185

Assigning Costs to Activity Centers 187

Graphic Example of Activity-Based Costing 188

Selecting Cost Drivers 188

Numerical Example of Activity-Based Costing 190

Comtek Sound，Inc．′s Basic Data 191

Activities as a Base 192

Direct labor-Hours as a Base 192

Benefits of Activity-Based Costing 196

Benefits and Limitations of Activity-Based Costing 196

Limitations of Activity-Based Costing 197

International Use of Activity-Based Costing 199

Activity-Based Costing and Service Industries 199

Quality of Design 200

Grade 200

Quality Management 200

Quality of Conformance-A Closer Look 202

Quality of Confo?mance 202

Prevention Costs 203

Internal Failure Costs 204

Appraisal Costs 204

External Failure Costs 205

Distribution of Quality Costs 206

Quality Cost Reports 207

Use of Quality Cost Information 208

Quality Cost Reports in Graphic Form 208

International Aspects of Quality 209

The ISO 9000 Standards 210

Review Problem：Activity-Based Costing 211

Summary 211

Key Terms for Review 213

Appendix 5A：Cost Flows in an Activity-Based Costing System 214

Questions 217

Exercises 219

Problems 224

Cases 233

Group Exercises 237

6 Cost Behavior：Analysis and Use 238

Types of Cost Behayior Patterns 240

Variable Costs 241

True Variable Versus Step-Variable Costs 242

Fixed Costs 244

The Linearity Assumption and the Relevant Range 244

Types of Fixed Costs 245

the Trend toward Fixed Costs 247

Fixed Costs and the Relevant Range 248

Mixed Costs 249

The Analysis of Mixed Costs 251

The High-Low Method 253

The Scattergraph Method 255

The Least-Squares Regression Method 257

The Use of Judgment in Cost Analysis 258

The Contribution Format 259

Engineering Approach to Cost Study 259

Multiple Regression Analysis 259

Summary 260

The Contribution Approach 260

Why a New Income Statement Format? 260

Review Problem1：Cost Behavior 261

Key Terms for Review 262

Review Problem2：High-Low Methad 262

Appendix 6A：Least-Squares Regression Calculations 263

Questions 265

Exercises 266

Problems 268

Cases 274

Group Exercises 275

PART 11 THE CENTRAL THEME：Planning and Control 277

7 Cost-Volume-Profit Relationships 278

Contribution Margin 281

The Basics of Cost-Volume-Profit(CVP)Analysis 281

Contribution Margin Ratio (CM Ratio) 283

Some Applications of CVP Concepts 284

Importance of the Contribution Margin 287

Break-Even Computations 288

Break-Even Analysis 288

CVP Relationships in Graphic Form 290

Target Net Profit Analysis 293

The Margin of Safety 295

Cost Structure and Profit Stability 296

CVP Considerations in Choosing a Cost Structure 296

Operating Leverage 298

Automation：Risks and Rewards from c CVP Perspective 300

Structuring Sales Commissions 301

Sales Mix and B?eak-Even Analysis 302

The Definition of Sales Mix 302

The Concept of Sales Mix 302

Assumptions of CVP Analysis 304

Sales Mix and per Unit Contr?bution Margin 304

Review Problem：CVP Relationships 305

Summary 305

Key Terms for Review 307

Questions 308

Exercises 309

Problems 311

Cases 319

Group Exercises 322

8 Variable Costing：A Tool for Management 324

Variable Costing 326

Absorption Costing 326

Overvlew of Absorption and Variable Costing 326

Unit Cost Computations 327

Income Comparison of Absorption and Variable Costing 328

The Controversy over Fixed Overhead Cost 328

The Definition of an Asset 330

Extended Comparison of Income Data 331

Absorption Costing 335

Variable Costing 335

Effect of Changes in Production on Net Income 335

The Impact on the Manager 338

CVP Analysis and Absorption Costing 339

Other Factors in Choosing a Costing Method 339

External Reporting and Income Taxes 340

Pricing Decisions 340

Advantages of the Contribution Approach 341

Impact of JIT Inventory Methods 342

Variable Costing and the Theory of Constraints 342

Review Problem 343

Summary 343

Questions 345

Key Terms for Review 345

Exercises 346

Problems 348

Cases 352

Group Exercises 356

9 Profit Planning 358

Difference Between Planning and Control 360

Personol budgets 360

The Basic Framework of Budgeting 360

Definition of Budgeting 360

Advantages of Budgeting 361

Responsibility Accounting 362

Choosing a Budget Period 363

The Matter of Human Relations 365

The Budget Committee 366

The Master Budget-A Network of Interrelationships 367

Sales Forecasting-A Critical Step 368

Preparing the Master Budget 369

The Production Budget 371

The Sales Budgei 371

The Direct Maferials Budget 373

Inventory Purchases-Merchandising Firm 373

The Direct Labor Budge? 374

The Manufacturing Overhead Budget 375

The Selling and Administrative Expense Budget 376

The Ending Finished Goods Inventory Budget 376

The Cash Budget 377

The Budgeted Income Statement 378

The Budgeted Balance Sheet 380

Expanding the Budgeted Income Statement 381

JIT Purchasing 383

Zero-Base Budgeting 384

International Aspec s of Budgeting 385

Review Problem：Budget Schedules 386

The Need for Further Budgeting Material 386

Key Terms for Review 388

Appendix 9A：Economic Order Quanfity(EOQ) and the Reorder Point 389

Exercises 396

Questions 396

Problems 399

Cases 409

Group Exercises 412

10 Standard Costs and Operating Performance Measures 414

Standard Costs-Management by Exception 416

Setting Standard Costs 417

Who Uses Standard Costs? 417

Ideal Versus Practical Standards 418

Setting Direct Materials Standards 419

Setting Variable Manufacturing Overhead Standards 421

Setting Direct Labor Standards 421

Advantages of Standard Costs 422

Are Standards the Same as Budgets? 422

Price and Quantity Variances 423

A General Model for Variance Analysis 423

Disadvantages of Standard Costs 423

Using Standard Costs—Direct Materials Variances 425

Materials Price Variance—A Closer Look 426

Materials Quantity Variance—A Closer Look 428

Labor Rate Variance —A Closer Look 429

Using Standard Costs—Direct Labor Variances 429

Labor Efficiency Variance—A Closer Look 430

Manufacturing Overhead Variance—A Closer Look 431

Using Standard Costs—Variable Manufacturing Overhead Variances 431

Structure of Performance Reports 434

Variance Analysis and Management by Exception 435

Standard Costs and the New Competitive Environment 436

Operating Performance Measures 436

New Performance Measures 437

Quality Control Measures 438

Inventory Control Measures 439

Material Control Measures 439

Machine Performance Measures 440

Delivery Performance Measures 441

International Uses of Standard Costs 443

Standard Costs and Operating Performance Measures 443

Summary 444

Review Problem:Standard Costs 445

Key Terms for Review 446

Appendix 10A:General Ledger Entries to Record Variances 448

Exercises 449

Questions 449

Problems 452

Cases 462

Group Exercises 465

11 Flexible Budgets and Overhead Analysis 468

Deficiencies of the Static Budget 470

Characteristics of a Flexible Budget 470

Flexible Budgets 470

How the Flexible Budget Works 472

The Measure of Activity—A Critical Choice 473

The Problem of Budget Allowances 474

The Overhead Performance Report—A Closer Look 474

Spending Variance Alone 475

Both Spending and Efficiency Variances 477

Expanding the Flexible Budget 478

Activity-Based Costing and the Flexible Budget 479

Fixed Costs and the Flexible Budget 479

Overhead Rates and Fixed Overhead Analysis 481

Flexible Budgets and Overhead Rates 482

Overhead Applications in a Standard Cost System 483

The Budget Variance—A Closer Look 484

The Fixed Overhead Variances 484

The Volume Variance—A Closer Look 485

Graphic Analysis of Fixed Overhead Variances 486

Overhead Variances and Under-or Overapplied Overhead Cost 487

Cautions in Fixed Overhead Analysis 487

Presentations of Variances on the Income Statement 488

Review Problem:Overhead Analysis 489

Questions 491

Key Terms for Review 491

Exercises 492

Problems 495

Cases 503

Group Exercises 507

12 Segment Reporting,Profitability Analysis,and Decentralizotion 510

Hindrances to Proper Cost Assignment 512

Inappropriate Methods for Allocating Costs among Segments 513

Omission of Costs 513

Arbitrarily Dividing Common Costs among Segments 514

Levels of Segmented Statements 517

Segment Reporting and Profitability Analysis 517

Sales and Contribution Margin 518

Assigning Costs to Segments 518

Traceable and Common Fixed Costs 520

Traceable Costs Can Become Common Costs 521

Segment Margin 522

Customer Profitability Analysis 523

Varying Breakdowns of Total Sales 523

Decentralization and Segment Reporting 525

Responsibility Accounting 525

Cost,Profit,and Investment Centers 526

The Return on Investment (ROI) Formula 528

Rate of Return for Measuring Managerial Performance 528

Measuring Management Performance 528

Net Operating Income and Operating Assets Defined 529

Plant and Equipment:Net Book Value or Gross Cost? 530

Controlling the Rate of Return 531

Reduce Operating Assets 532

Reduce Expenses 532

Increase Sales 532

The Proplem of Allocated Expenses and Assets 533

Residual Income—Another Measure of Performance 534

Criticisms of ROI 534

Motivation and Residual Income 535

Divisional Comparison and Residual Income 536

Review Problem 1:Segmented Statements 537

Summary 537

Review Problem 2:Return on Investment (ROI) and Residual Income 538

Key Terms for Review 539

Appendix 12A:Transfer Pricing 540

Review Problem 3:Transfer Pricing 549

Questions 551

Exercises 552

Problems 556

Cases 569

Group Exercises 571

PART Ⅲ THE CAPSTONE:Using Cost Data in Decision Making 573

13 Relevant Costs for Decision Making 574

Identifying Relevant Costs 576

Cost Concepts for Decision Making 576

Sunk Costs Are Not Relevant Costs 577

Different Costs for Different Purposes 577

Book Value of Old Equipment 578

Future Costs that Do Not Differ Are Not Relevant Costs 580

Why Isolate Relevant Costs? 582

An Example of Irrelevant Future Costs 582

Adding and Dropping Product Lines and Other Segments 583

An Illustration of Cost Analysis 584

Beware of Allocated Fixed Costs 586

A Comparative Format 586

The Make or Buy Decision 588

Strategic Aspects of the Make or Buy Decision 589

An Example of Make or Buy 590

The Matter of Opportunity Cost 591

Special Orders 592

Contribution in Relation to Scarce Resources 593

Utilization of Scarce Resources 593

Managing Constraints 595

Joint Product Costs and the Contribution Approach 596

The Problem of Multiple Constraints 596

Sell or Process Further Decisions 597

The Pitfalls of Allocation 597

Activity-Based Costing and Relevant Costs 599

Review Problem:Relevant Costs 600

Summary 600

Key Terms for Review 601

Questions 602

Exercises 603

Problems 607

Cases 615

Group Exercises 620

14 Capital Budgeting Decisions 622

Capital Budgeting—An Investment Concept 624

Characteristics of Business Investments 625

Typical Capital Budgeting Decisions 625

The Net Present Value Method Illustrated 626

Discounted Cash Flows—The Net Present Value Method 626

Emphasis on Cash Flows 628

Recovery of the Original Investment 629

Choosing a Discount Rate 630

Simplifying Assumplions 630

An Extended Example of the Net Present Value Mathod 631

The Internal Rate of Return Method Illustrated 632

Discounted Cash Flows—The Internal Rate of Return Method 632

Salvage Value and Other Cash Flows 633

The Cost of Capital as a Screening Tool 634

Using the Internal Rate of Return 634

The Process of Interpolation 634

Comparison Of The Net Present Volue and the Internral Rate of Return Methods 635

The Total-Cost Approach 636

Expanding the Net Present Value Method 636

The Incremental-Cost Approach 638

Least-Cost Decisions 639

Investments in Automated Equipment 640

Capital Budgeting and Nonprofit Organizations 640

Benefits from Automation 641

Decision Framework for Intangible Benefits 642

The Payback Method 643

Other Approaches to Capital Budgeting Decisions 643

Evaluation of the Payback Method 644

An Extended Example of Payback 645

The Simple Rate of Return Method 646

Payback and Uneven Cash Flows 646

The Choice of an Investment Base 648

Criticisms of the Simple Rate of Return 648

Postaudit of Investment Projects 649

Summary 650

Review Problem 1:Basic Present Value Computations 651

Review Problem 2:Comparison of Capital Budgeting Methods 652

Key Terms for Review 653

Appendix 14A:The Concept of Present Value 654

Appendix 14B:Inflation and Capital Budgeting 658

Appendix 14C:Future Value and Present Value Tables 660

Questions 662

Exercises 663

Problems 666

Cases 675

Group Exercises 678

15 Forther Aspects Opvestment Decisions 680

Income Taxes and Capital Budgeting 682

The Concepi of After-Tax Cost 683

The Concept of Depreciation Tax Shield 685

Modified Accelerated Cost Recovery System 686

The Choice of a Depreciation Method 691

Example or Income Taxes and Capital Budgeting 692

The Total-Cost Approach and Income Taxes 694

Net Present Valve Method 697

Internal Rate of Return Method 697

Preference Decisions—The Ranking of Investment Projects 697

Companng the Preference Rules 698

Summary 699

Review Problem:Capital Budgeting and Taxes 700

Questions 701

Key Terrrs for Review 701

Exercises 702

Problems 704

Cases 711

Group Exercises 713

Part IV SELECTED TOPICS FOR FURTHER STUDY 717

16 Service Department Costing:An Activity Approach 718

Selecling Allocation Bases 720

Guidelines for Cost Allocation 720

The Need for Cost Allocation 720

Interdepartmental Services 722

Allocating Costs by Behavior 727

Pitfalls in Allocaling Fixed Costs 728

Effect of Allocations on Operating Departments 729

Should Actual o Budgeted Costs Be Allocated? 729

Basic Allocation Techniques 731

Implementing the Allocation Guidelines 731

A Summary of Cost Allocation Guidelines 731

An Extended Example 733

Should All Costs Be Allocated? 735

No Distinction Made between Fixed and Variable Costs 735

Beware of Sales Dollars as an Allocation Base 736

Summary 737

Review Problem:Direct and Step Methods 738

Key Terms for Review 739

Exercises 740

Questions 740

Problems 742

Cases 747

Group Exercises 749

17 How Well Am I Doing2 Stctement of Cash Flows 752

Constructing the Statement of Cash Flows Using Changes in Noncash Balance Sheet Accounts 755

Definition of Cash 755

The Basic Approach to a Statement of Cash Flows 755

Constructing a Simplified Statement of Cash Flows 757

An Example of a Simplified Statement of Cash Flows 757

Depreciation,Depletion,and Amortization 758

Investing Activities 760

Operating Activities 760

The Need for a More Detailed Statement 760

Organization of the Full-Fledged Statement of Cash Flows 760

Other Issues in Preparing the Statement of Cash Flows 761

Financing Activities 761

Direct Exchange Transactions 762

Operating Activities:Direct or Indirect Method? 762

Eight Basic Steps to Preparing the Statement of Cash Flows 763

An Example of a Full-Fledged Statement of Cash Flows 763

Setting Up the Worksheet (Steps 1-4) 765

Adjustments to Reflect Gross,Rather Than Net ,Amounts (Step 5) 766

The Completed Statement of Cash Flows (Steps 7 and 8) 767

Classifying Entries as Operating,Investing,or Financing Activities (Step ó) 767

Interpretation of the Statement of Cash Flows 769

Summary 770

Review Problem 770

Key Terms for Review 772

Appendix 17A:The Direct Method of Determining the Net Cash Provided by Operating Activities 772

Questions 774

Exercises 775

Problems 778

Group Exercises 784

18 How Well Am I Doing? Financial Statement Analysis 786

Limitations of Financial Statement Analysis 788

Comparison of Financial Data 788

The Need to Look beyond Ratios 788

Dollar and Percentage Changes on Statements 789

Statements in Comparative and Common-Size Form 789

Common-Size Statements 792

Ratio Analysis—The Common Stockholder 794

Earnings per Share 794

Extraordinary ltems and Earnings per Share 795

Fully Diluted Earnings per Share 796

Price-Earnings Ratio 797

Dividend Payout and Yield Ratios 797

Return on Total Assets 798

Return on Common Stockholders Equity 799

Financial Leverage 800

Book Value Per Share 801

Ratio Analysis—The Short-Term Creditor 802

Working Capital 802

Current Ratio 803

Acid-Test (Quick)Ratio 804

Accounts Receivable Turnover 804

Inventory Turnover 805

Ratio Analysis—The Long-Term Creditor 806

Times Interest Earned Ratio 806

Debt-to-Equity Ratio 807

Summary of Ratios and Sources of Comparative Ratio Data 808

Summary 809

Review Problem:Selected Ratios and Financial Leverage 809

Key Terms for Review 812

Questions 812

Exercises 813

Problems 816

Group Exercises 826

Appendix Pricing Products and Services 828

Cost-Plus Pricing 830

The Absorption Approach 830

The Contribution Approach 832

Determining the Markup Percentage 832

Markup on an Absorption Basis 833

Markup on a Contribution Basis 834

Target Costing 834

Reasons for Using Target Costing 836

An Example of Target Costing 836

Material Component 837

Time Component 837

An Example of Time and Material Pricing 837

Service Companies—Time and Material Pricing 837

Key Terms for Review 838

Questions 839

Exercises 839

Problems 840

Photo Credits 845

Author Index 847

Company Index 849

Subject Index 851