Management Accounting - Text, Problems and Cases

Accounting information can be used in many different ways. It can be used to provide information that can help managers in making decisions and also in defining long term goals and directions for the organization. Management Accounting : Text, Problems and Cases covers this aspect of accounting information in detail. It first explains the Nature of Management Accounting. Then, the book deals with financial accounting and analysis methods for decision making in seven parts.The second part focuses on Financial Accounting. It goes into the generally accepted accounting principles and standards. It explains accounting cycles and financial statements. The third part, Financial Analysis, covers cash flow statements and analysis of financial statements.The next part explains Cost Accumulation. It examines the needs of cost concepts and costing in various aspects of management, like control of labour, and materials. The book then discusses Profit Planning. It explains budgeting and profit planning and volume-cost-profit analysis.The sixth part covers Cost Control concepts like standard and quality costs, variance analysis, and responsibility accounting. The final part covers Decision Making. It looks at capital budgeting and short-run decision analysis.This edition of Management Accounting : Text, Problems and Cases has additional information on accounting standards, cash flow statements, and understanding corporate financial statements. It has a new section covering service costing. The book also includes numerous case studies that help in gaining a deeper understanding of the concepts. The book is written in a simple style.Table of ContentsChapter 1. Nature of Management AccountingChapter 2. Generally accepted Accounting Principles and Accounting StandardsChapter 3. Accounting Cycle and Statements of Financial InformationChapter 4. Understanding Corporate Financial Statements and ReportsChapter 5. Cash Flow StatementChapter 6. Financial Statements AnalysisChapter 7. Cost Concepts and Management NeedsChapter 8. Costing and Control of MaterialsChapter 9. Costing and Control of LabourChapter 10. Costing and Control of Factory (Manufacturing) OverheadsChapter 11. Costing and Control of Administrative, Selling and Distribution OverheadsChapter 12. Activity Based Costing SystemChapter 13. Job-Order, Batch and Service CostingChapter 14. Process, Joint and By-Product CostingChapter 15. Variable Costing and Absorption (Full) CostingChapter 16. Volume-Cost-Profit AnalysisChapter 17. Budgeting and Profit PlanningChapter 18. Standard Costs and Quality CostsChapter 19. Cost Variance AnalysisChapter 20. Revenue and Profit Variance AnalysisChapter 21. Responsibility AccountingChapter 22. Short-Run Decision AnalysisChapter 23. Capital Budgeting