Cost Accounting and Management Essentials You Always Wanted To Know: 5th Edition

1. Introduction

1.1 Cost Accounting Terms

1.2 Using a Costing System

Solved Examples

Practice Exercise

Chapter Summary

2. Cost-Volume-Profit (CVP) Analysis

2.1 Contribution Income Statement

2.2 CVP Analysis

2.3 Breakeven Point and Target Income

2.4 CVP Analysis for Decision Making

2.5 Sensitivity Analysis

Case Study

Solved Examples

Practice Exercise

Chapter Summary

3. Decision Making using Relevant Information

3.1 One-Time-Only Special Orders

3.2 Make-or-Buy Decisions

3.3 Outsourcing and Opportunity Costs

3.4 Product-Mix Decisions with Capacity Constraints

Case Study

Solved Examples

Practice Exercise

Chapter Summary

4. Activity-Based Costing

4.1 Broad Averaging

4.2 Simple Costing System

4.3 Activity-Based Costing System

4.4 Customer Profitability

Case Study

Solved Examples

Practice Exercise

Chapter Summary

5. Support Department Cost Allocation

5.1 Need for Cost Allocation

5.2 Cost Allocation Basis

5.3 Allocating Costs of One Support Department

5.4 Allocating Costs of Multiple Support Departments

Solved Examples

Practice Exercise

Chapter Summary

6. Cost Control

6.1 Direct Variances

6.2 Indirect Variances

Solved Examples

Practice Exercise

Chapter Summary

7. Customer Profitability

7.1 Why Is Understanding Customer Profitability So Important?

7.2 Customer Information Systems

7.3 From Product to Customer Profitability

7.4 Activity-Based Costing

7.5 Unprofitable Customers and Products

Solved Examples

Practice Exercise

Chapter Summary

Glossary

Kalpesh Ashar is a management consultant and corporate trainer holding an MBA (Dean’s Award Winner) from SPJIMR, one of Asia’s top business schools, and an Engineering degree with honors in Electronics. He has over 24 years of experience in large organizations and start-ups in Asia, USA, and Europe. Kalpesh has worked in several project management roles, like Senior Project Manager, Delivery Manager, and Program Manager. He is passionate about writing on management subjects. His techno-business background gives him a unique position to write on management topics that are easy to understand for non-MBA graduates. His books are authored in a simple to understand manner without unnecessary use of management jargons.

Vibrant Publishers is focused on presenting the best texts for learning about technology and business as well as books for test preparation. Categories include programming, operating systems and other texts focused on IT. In addition, a series of books helps professionals in their own disciplines learn the business skills needed in their professional growth.

Vibrant Publishers has a standardized test preparation series covering the GMAT, GRE and SAT, providing ample study and practice material in a simple and well organized format, helping students get closer to their dream universities.

The Self-Learning Management Series is designed to help students, new managers, career switchers, and entrepreneurs learn essential management lessons and covers every aspect of business, from HR to Finance to Marketing to Operations across any and every industry. Each book includes basic fundamentals, important concepts, and standard and well-known principles as well as practical ways of application of the subject matter.

The book uses charts, graphics, tables and relevant examples to explain the concepts of cost accounting and also provides a detailed computation for each of them. Cost Accounting and Management Essentials is a well-organized book that will help students understand and conquer the subject easily.
-- Jangho Gil, Assistant Professor of Accounting, Monmouth University Logo

The book is simple to understand, contains a plethora of questions and answers and is perfect for those who are studying cost accounting as a non-core subject. This book is broken down into bite-sized pieces so that the concepts of cost accounting are easy to digest and remember.
-- Xihui Chen, Assistant Professor of Accounting, Finance at Heriot-Watt University

The book touches upon all the concepts required in cost accounting without getting into a lot of details. It introduces the readers to a lot of terminologies when it comes to cost classifications and behaviors.
-- Dr Cheryl A Moore, Mercyhurst University, Assistant Professor of Accounting

This book covers adequate topics that are included in the PG curriculum in recent years. The theoretical coverage and language of the book is lucid and student-friendly. The illustrations are better placed and the book has simple examples that help elucidate the concepts. Overall, the book offers a clear understanding of cost and management accounting.
-- Dr.Chetana Asbe, Faculty of Finance, Chetana's Institutte of Management & Research

A relatively slim volume packed with information, solved examples and practice exercises which lifted my abilities with accounts to a whole new level
-- Sue Magee for The Bookbag

This book is a good reference for cost accounting concepts. It includes a good number of examples and quizzes to test one's comprehension. I particularly liked the in-depth explanation of the answers.
-- Jennifer McGuire
Reviewer
(net galley)

'Vibrant Publishers' Accounting and Finance books are invaluable resources for students and faculty alike. They empower students to deepen their knowledge and understanding, providing a clear path to academic success.'
-- Hem Chandra Bhatt
Assistant Professor,
P. N. G. Govt. P. G. College Ramnagar

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