Cost Accounting (eBook)

Mark Lee Inman (Autor)

eBook Download: PDF

2014 | 1. Auflage
308 Seiten
Elsevier Science (Verlag)
978-1-4831-0582-6 (ISBN)

Infos

Cost Accounting, Stage 2 discusses the basic elements of cost, cost collection, and cost accounting techniques and methods. The book provides an introduction to the concept of cost accounting and tackles cost ascertainment and conversion costs. The text discusses the various types of costing such as job, process, marginal, and standards. A whole chapter is also dedicated to budgets, variance analysis, and presentation of cost accounting information. The text will be of great reference material for both students and practitioners of accounting.

Inhalt

Front Cover 1
Cost Accounting 2
Copyright Page 3
Table of Contents 4
Dedication 3
Preface 6
Chapter 1. Introduction 8
Definitions 8
The environment of cost accounting 10
The uses of cost accounting 11
A review of terms associated with costing 13
Note on SSAP9 16
References and further reading 18
Chapter 2. Cost ascertainment — materials 20
Cost centre 20
The elements of cost 21
Material costs 23
Additional points to be considered under the heading of material costs 31
References and further reading 38
Chapter 3. Conversion costs 39
Labour cost control 39
Overheads 50
Final considerations 64
Summary of Chapters 2 and 3 66
References and further reading 70
Chapter 4. Types of costing 71
Types of costing systems 71
Product cost accounting 71
References and further reading 92
Chapter 5. Job costing 96
Introduction and definition 96
Contract costing 101
Batch costing 113
Chapter 6. Process costing 122
Introduction 122
Basic mechanics 122
Abnormal losses and gains 124
The impact of work-in-progress 126
Process costing and cost control 132
Process costing and decision making 132
The debate about process costing 134
Joint costs and by-products 135
References and further reading 148
Chapter 7. Marginal costing 149
Introduction and definitions 149
Marginal cost reporting 155
Marginal costs and decision making 157
Marginal costing versus total absorption costing 166
Extensions to the marginal costing approach 167
The absorption/marginal costing controversy 175
References and further reading 182
Chapter 8. Budgets 183
Introduction and definition 183
Types of budgets 184
Advantages of budgeting 186
The essentials for effective budgeting 187
A word about flexed budgets 188
Control against budgets 197
Chapter 9. Standard costing 203
Introduction 203
The control process 204
Types of standard 205
Behavioural aspects of standard costing 210
Criticism of standard costing 211
References and further reading 212
Chapter 10. Variance analysis 213
Introduction 213
The definition of a 'Variance' 213
Direct materials variances 214
Direct labour variances 216
Overhead variances 218
Reporting on variances 223
Investigation of variances 229
Selection of a variance to be investigated 230
Ratio analysis and variances 231
References and further reading 240
Chapter 11. Cost accounting systems 241
Introduction 241
Objectives of a cost accounting system 241
Determining the cost accounting system 243
Absorption 246
Valuation 247
Audit requirements 247
Decision making 248
Predictive information 250
Appraising the information system 250
Modifying the cost accounting system 250
The use of computers in cost accounting 251
References and further reading 258
Chapter 12. Integrated accounts 259
Introduction 259
The ledgers and books of account 259
Costing profit and loss accounts 264
Towards a non-integrated system 265
A comment about 'interlocking accounts' 269
Fully Integrated accounting systems 270
References and further reading 283
Chapter 13. Presentation of cost accounting information 285
Introduction 285
Accountancy is a communications discipline 285
Primary rubric 286
Some essential rubrics 286
Extensions and contrasting viewpoints 286
The methodology of report writing 289
References and further reading 302
Index 304

Produkt-Details

• Erscheint lt. Verlag: 21.5.2014
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
• ISBN-10: 1-4831-0582-2 / 1483105822
• ISBN-13: 978-1-4831-0582-6 / 9781483105826