Fundamentals Of Cost Accounting

Cost and Management Accounting: Fundamentals and its Applications caters to a much needed requirement of a text that is contemporary and at the same time provides a concise approach to cost and management accounting in the Indian context. Every effort is made in this book to expose the students to the relevance of cost concepts in managerial decision-making. Key Features Learning Objectives: These objectives, at the beginning of each chapter, outline the flow of a chapter and serve as points of comprehension and evaluation. Chapter Opening Case: Each chapter opens with an interesting case of a hypothetical company, posing an issue directly related to the concepts covered in the chapter. This should help the student to relate the chapter's theoretical content to an actual business setting. Opening Case Linkages: Each chapter opening case is revisited later in the chapter, after the students have gained an understanding of the concepts and techniques needed to address it. Link to Practice: All chapters incorporate multiple real-world applications of management accounting concepts. These provide an opportunity for the students to bridge the text material to actual accounting practice. Research Insights: Each chapter discusses current research relevant to the theory and practice of cost and management accounting to assist students develop proper reasoning about the topics under discussion. You are the Decision Maker: Each chapter poses short, thought-provoking questions in order to motivate students to apply the knowledge they have gained. Ethical Dilemma (Real World Cases): The cases talk about importance of business ethics in managerial accounting Coverage of Diverse Industries and Sectors: The book has a balanced mix of manufacturing, service, trading, mature and start-up companies, taken as a background to illustrate the universality of application of cost management tools. Illustration Problems: Two solved review problems accompanied by solutions in each chapter. These problems demonstrate the applicability of major concepts and procedures covered in the chapter. Glossary: Comprehensive glossary at the end of the book.

The authors have kept the text concise by focusing on the key concepts students need to master. Opening vignettes & 'in action' boxes show realistic applications of these concepts throughout. Comprehensive end-of-chapter problems provide students with all the practice they need to fully learn each concept.

Cost Accounting Fundamentals describes the key cost accounting concepts that most concern the practicing cost accountant, illustrates them with numerous examples, and adds review questions and answers to improve comprehension. The book is designed for both professional accountants and students, since both can benefit from its detailed descriptions of inventory valuation methods, product pricing techniques, cost analysis methods, and more. Cost Accounting Fundamentals includes such key topics as job costing, process costing, standard costing, target costing, transfer pricing, activity-based costing, constraint analysis, and capital budgeting analysis.

A direct, realistic, and efficient way to learn cost accounting. Fundamentals is short (approximately 700 pages) making it easy to cover in one semester. The authors have kept the text concise by focusing on the key concepts students need to master. Opening vignettes and In Action boxes show realistic applications of these concepts throughout. All chapters end with a “Debrief” that links the topics in the chapter to the decision problem faced by the manager in the opening vignette. Comprehensive end-of-chapter problems provide students with all the practice they need to fully learn each concept.

Cost accounting is an essential management tool that can uncover profitability improvements and provide support for key business decisions. Cost Accounting Fundamentals shows how to improve a business with constraint analysis, target costing, capital budgeting, price setting, and cost of quality analysis. The book also addresses the essential tasks of inventory valuation and job costing, and shows how to create a cost collection system for these activities. In short, this book contains the essential tools needed to foster more profitable decision-making by management.

The easy way to get a grip on cost accounting Critical in supporting strategic business decisions and improving profitability, cost accounting is arguably one of the most important functions in the accounting field. For business students, cost accounting is a required course for those seeking an accounting degree and is a popular elective among other business majors. Cost Accounting For Dummies tracks to a typical cost accounting course and provides in-depth explanations and reviews of the essential concepts you'll encounter in your studies: how to define costs as direct materials, direct labor, fixed overhead, variable overhead, or period costs; how to use allocation methodology to assign costs to products and services; how to evaluate the need for capital expenditures; how to design a budget model that forecast changes in costs based on expected activity levels; and much more. Tracks to a typical cost accounting course Includes practical, real-world examples Walks you though homework problems with detailed, easy-to-understand answers If you're currently enrolled in a cost accounting course, this hands-on, friendly guide gives you everything you need to master this critical aspect of accounting.