Cost and management accounting :   an introduction 
/ Colin Drury 
 - 5th ed. 
 - London :  Thomson Learning,    c2003. 
 - xix, 552 p. :   ill. ;   26 cm. 
<br/><br/>Includes index 
<br/><br/><br/>Preface		xiii	<br/>Part One Introduction to Cost and Management Accounting<br/>1	(38)<br/>Introduction to management accounting<br/>3	(16)<br/>The users of accounting information<br/>4	(1)<br/>Differences between management accounting and financial accounting<br/>5	(1)<br/>The decision-making process<br/>5	(5)<br/>Changing competitive environment<br/>10	(1)<br/>Focus on customer satisfaction and new management approaches<br/>10	(3)<br/>The impact of the changing environment of management accounting systems<br/>13	(1)<br/>Functions of management accounting<br/>14	(2)<br/>Summary of the contents of this book<br/>16	(3)<br/>An introduction to cost terms and concepts<br/>19	(20)<br/>Cost objects<br/>19	(1)<br/>Direct and indirect costs<br/>20	(2)<br/>Period and product costs<br/>22	(1)<br/>Cost behaviour<br/>22	(5)<br/>Relevant and irrelevant costs and revenues<br/>27	(1)<br/>Avoidable and unavoidable costs<br/>28	(1)<br/>Sunk costs<br/>28	(1)<br/>Opportunity costs<br/>28	(1)<br/>Incremental and marginal costs<br/>29	(1)<br/>Job costing and process costing systems<br/>30	(1)<br/>Maintaining a cost database<br/>30	(9)<br/>Part Two Cost Accumulation for Inventory Valuation and Profit Measurement<br/>39	(158)<br/>Accounting for labour and materials<br/>41	(30)<br/>Accounting for labour costs<br/>42	(2)<br/>Accounting treatment of various labour cost items<br/>44	(1)<br/>Materials recording procedure<br/>45	(2)<br/>Pricing the issues of materials<br/>47	(4)<br/>Issues relating to accounting for materials<br/>51	(2)<br/>Quantitative models for the planning and control of stocks<br/>53	(1)<br/>Relevant costs for quantitative models under conditions of certainty<br/>53	(1)<br/>Determining the economic order quantity<br/>54	(3)<br/>Assumptions of the EOQ formula<br/>57	(1)<br/>Determining when to place the order<br/>57	(1)<br/>Control of stocks through classification<br/>58	(1)<br/>Materials requirement planning<br/>59	(1)<br/>Just-in-time systems<br/>60	(11)<br/>Cost assignment<br/>71	(36)<br/>Assignment of direct and indirect costs<br/>72	(1)<br/>Different costs for different purposes<br/>72	(2)<br/>Cost-benefit issues and cost systems design<br/>74	(1)<br/>Assigning direct costs to objects<br/>75	(1)<br/>Plant-wide (blanket) overhead rates<br/>75	(2)<br/>The two-stage allocation process<br/>77	(1)<br/>An illustration of the two-stage process for a traditional costing system<br/>78	(7)<br/>Extracting relevant costs for decision-making<br/>85	(1)<br/>Budgeted overhead rates<br/>85	(1)<br/>Under-and over-recovery of overheads<br/>86	(1)<br/>Maintaining the database at standard costs<br/>87	(1)<br/>Non-manufacturing overheads<br/>88	(4)<br/>Appendix 4.1: Inter-service department reallocations<br/>92	(4)<br/>Appendix 4.2: Other allocation bases used by traditional systems<br/>96	(11)<br/>Accounting entries for a job costing system<br/>107	(24)<br/>Control accounts<br/>108	(1)<br/>Recording the purchase of raw materials<br/>109	(1)<br/>Recording the issue of materials<br/>109	(3)<br/>Accounting procedure for labour costs<br/>112	(1)<br/>Accounting procedure for manufacturing overheads<br/>113	(2)<br/>Non-manufacturing overheads<br/>115	(1)<br/>Accounting procedures for jobs completed and products sold<br/>115	(1)<br/>Costing profit and loss account<br/>116	(1)<br/>Interlocking accounting<br/>116	(1)<br/>Contract costing<br/>117	(5)<br/>Work in progress valuation and amounts recoverable on contracts<br/>122	(9)<br/>Process costing<br/>131	(32)<br/>Flow of production and costs in a process costing system<br/>132	(1)<br/>Process costing when all output is fully complete<br/>133	(6)<br/>Process costing with ending work in progress partially complete<br/>139	(3)<br/>Beginning and ending work in progress of uncompleted units<br/>142	(5)<br/>Partially completed output and losses in process<br/>147	(1)<br/>Process costing for decision-making and control<br/>147	(1)<br/>Batch/operating costing<br/>148	(1)<br/>Surveys of practice<br/>149	(3)<br/>Appendix 6.1: Losses in process and partially completed units<br/>152	(11)<br/>Joint and by-product costing<br/>163	(16)<br/>Distinguishing between joint products and by-products<br/>163	(2)<br/>Methods of allocating joint costs<br/>165	(7)<br/>Irrelevance of joint cost allocations for decision-making<br/>172	(1)<br/>Accounting for by-products<br/>173	(1)<br/>By-products, scrap and waste<br/>174	(5)<br/>Income effects of alternative cost accumulation systems<br/>179	(18)<br/>External and internal reporting<br/>180	(1)<br/>Variable costing<br/>181	(1)<br/>Absorption costing<br/>182	(1)<br/>Variable costing and absorption costing: a comparison of their impact on profit<br/>183	(3)<br/>A mathematical model of the profit functions<br/>186	(1)<br/>Some arguments in support of variable costing<br/>187	(1)<br/>Some arguments in support of absorption costing<br/>188	(1)<br/>Surveys of company practice<br/>189	(2)<br/>Appendix 8.1: Derivation of the profit function for an absorption costing system<br/>191	(6)<br/>Part Three Information for Decision-making<br/>197	(112)<br/>Cost-volume--profit analysis<br/>199	(30)<br/>The economist's model<br/>200	(2)<br/>The accountant's cost--volume--profit model<br/>202	(2)<br/>A mathematical approach to cost-volume--profit analysis<br/>204	(4)<br/>Margin of safety<br/>208	(1)<br/>Constructing the break-even chart<br/>208	(1)<br/>Alternative presentation of cost--volume--profit analysis<br/>208	(2)<br/>Multi-product cost--volume--profit analysis<br/>210	(3)<br/>Cost--volume--profit analysis assumptions<br/>213	(3)<br/>Cost--volume--profit analysis and computer applications<br/>216	(1)<br/>Separation of semi-variable costs<br/>216	(13)<br/>Measuring relevant costs and revenues for decision-making<br/>229	(28)<br/>The meaning of relevance<br/>230	(1)<br/>Importance of qualitative factors<br/>230	(1)<br/>Special pricing decisions<br/>231	(4)<br/>Product-mix decisions when capacity constraints exist<br/>235	(2)<br/>Replacement of equipment -- the irrelevance of past costs<br/>237	(2)<br/>Outsourcing and make or buy decisions<br/>239	(4)<br/>Discontinuation decisions<br/>243	(2)<br/>Determining the relevant costs of direct materials<br/>245	(1)<br/>Determining the relevant costs of direct labour<br/>245	(12)<br/>Activity-based costing<br/>257	(28)<br/>The role of a cost accumulation system in generating relevant cost information for decision-making<br/>258	(1)<br/>Types of cost systems<br/>259	(1)<br/>A comparison of traditional and ABC systems<br/>260	(2)<br/>The emergence of ABC systems<br/>262	(1)<br/>Volume-based and non-volume-based cost drivers<br/>262	(3)<br/>An illustration of the two-stage process for an ABC system<br/>265	(4)<br/>Designing ABC systems<br/>269	(3)<br/>Activity hierarchies<br/>272	(1)<br/>Cost versus benefits considerations<br/>273	(1)<br/>Periodic review of an ABC data base<br/>274	(1)<br/>ABC in service organizations<br/>274	(1)<br/>ABC cost management applications<br/>275	(10)<br/>Capital investment decisions<br/>285	(24)<br/>The opportunity cost of an investment<br/>286	(1)<br/>Compounding and discounting<br/>286	(2)<br/>The concept of net present value<br/>288	(2)<br/>Calculating net present values<br/>290	(1)<br/>The internal rate of return<br/>291	(3)<br/>Relevant cash flows<br/>294	(1)<br/>Timing of cash flows<br/>294	(1)<br/>Techniques that ignore the time value of money<br/>295	(1)<br/>Payback method<br/>295	(3)<br/>Accounting rate of return<br/>298	(1)<br/>Qualitative factors<br/>299	(2)<br/>Appendix 12.1: Taxation and investment decisions<br/>301	(8)<br/>Part Four Information for Planning, Control and Performance Measurement<br/>309	(106)<br/>The budgeting process<br/>311	(28)<br/>Relationship between budgeting and long-term planning<br/>312	(1)<br/>The multiple functions of budgets<br/>312	(2)<br/>Conflicting roles of budgets<br/>314	(1)<br/>The budget period<br/>314	(1)<br/>Administration of the budgeting process<br/>315	(1)<br/>Stages in the budgeting process<br/>316	(4)<br/>A detailed illustration<br/>320	(1)<br/>Sales budget<br/>320	(3)<br/>Production budget and budgeted stock levels<br/>323	(1)<br/>Direct materials usage budget<br/>324	(1)<br/>Direct materials purchase budget<br/>324	(1)<br/>Direct labour budget<br/>325	(1)<br/>Factory overhead budget<br/>325	(1)<br/>Selling and administration budget<br/>326	(1)<br/>Departmental budgets<br/>327	(1)<br/>Master budget<br/>327	(2)<br/>Cash budgets<br/>329	(1)<br/>Final review<br/>329	(1)<br/>Computerized budgeting<br/>330	(9)<br/>Management control systems<br/>339	(28)<br/>Different types of controls<br/>340	(3)<br/>Cybernetic control systems<br/>343	(1)<br/>Feedback and feed-forward controls<br/>343	(1)<br/>Management accounting control systems<br/>344	(1)<br/>Responsibility centres<br/>344	(2)<br/>The nature of management accounting control systems<br/>346	(1)<br/>The controllability principle<br/>347	(4)<br/>Setting financial performance targets<br/>351	(1)<br/>Participation in the budgeting and target setting process<br/>352	(2)<br/>Non-financial performance measures<br/>354	(1)<br/>Activity-based cost management<br/>355	(12)<br/>Standard costing and variance analysis<br/>367	(48)<br/>Operation of a standard costing system<br/>368	(3)<br/>Establishing cost standards<br/>371	(3)<br/>Types of cost standards<br/>374	(4)<br/>Variance analysis<br/>378	(1)<br/>Material variances<br/>378	(1)<br/>Material price variances<br/>379	(2)<br/>Material usage variance<br/>381	(1)<br/>Total material variance<br/>382	(1)<br/>Labour variances<br/>382	(1)<br/>Wage rate variance<br/>382	(1)<br/>Labour efficiency variance<br/>383	(1)<br/>Total labour variance<br/>384	(1)<br/>Variable overhead variances<br/>384	(1)<br/>Variable overhead expenditure variance<br/>384	(1)<br/>Variable overhead efficiency variance<br/>385	(1)<br/>Similarities between materials, labour and overhead variances<br/>386	(1)<br/>Fixed overhead expenditure or spending variance<br/>386	(1)<br/>Sales variances<br/>387	(1)<br/>Total sales margin variance<br/>387	(1)<br/>Sales margin price variance<br/>388	(1)<br/>Sales margin volume variance<br/>389	(1)<br/>Reconciling budgeted profit and actual profit<br/>389	(1)<br/>Standard absorption costing<br/>389	(2)<br/>Volume variance<br/>391	(1)<br/>Volume efficiency variance<br/>392	(1)<br/>Volume capacity variance<br/>393	(1)<br/>Summary of fixed overhead variances<br/>393	(1)<br/>Reconciliation of budgeted and actual profit for a standard absorption costing system<br/>393	(2)<br/>Performance reports<br/>395	(3)<br/>Recording standard costs in the accounts<br/>398	(17)<br/>Questions<br/>415	(126)<br/>Bibliography<br/>541	(4)<br/>Appendices<br/>545	(4)<br/>Appendix A<br/>546	(1)<br/>Appendix B<br/>547	(2)<br/>Index		549	<br/> 
<br/><br/> Cost & Management Accounting: An Introduction (previously entitled Costing: An Introduction) is a rigorous, clear and easy-to-understand introduction to management accounting, with a tried, tested and successful format that has enabled literally thousands of students to pass their exams. It is intended primarily for accounting students taking a one-or two-semester introductory course and covers all of the basic topics required. The book is a companion volume to the author's best-selling Management & Cost Accounting, which includes more advanced topics not suitable for introductory courses. The strong pedagogic emphasis of Cost & Management Accounting: An Introduction enables students to learn effectively -- each chapter contains learning objectives, examples, exhibits, review problems (with answers), questions (with answers divided between the Students' and Instructors' Manuals), summary, key terms and concepts, and key examination points. 
<br/><br/><br/>eng 
<br/><br/><label>ISBN: </label>1861529058  TZS 50,000/= 
<br/><br/><label>Subjects--Topical Terms: </label><br/>Cost accounting<br/>Managerial accounting
<br/><br/><label>Dewey Class. No.: </label>Drury, Colin