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PRINCIPLES OF COST ACCOUNTING introduces the essentials of cost accounting in a well-organized, practical, and concise new edition. Within the book's unique 10-chapter format, students gain a thorough understanding of cost concepts, cost behavior, and cost accounting techniques as they apply to manufacturing and service businesses. Unlike other texts, PRINCIPLES OF COST ACCOUNTING ensures that students master the fundamentals before progressing to more complex topics. Students begin with job order costing, and then advance to process costing before delving into specialized topics, such as budgeting, standard costing and variance analysis, costing for service businesses, and cost analysis for management decisions. PRINCIPLES OF COST ACCOUNTING meets the unique learning needs of today's student by introducing concepts in small, manageable sections that are immediately reinforced with proven questions, demonstration problems, exercises, and self-study quizzes. Students develop the competitive edge needed for success in today's job market as they learn how to determine the costs of products and services accurately and set effective selling prices. Students discover how to bid on products and analyze the relative profitability of various products and services. The book's easily accessible presentation focuses on techniques to measure the performance of managers within an organization, design an accounting system to fit the production and distribution system of an organization, and use the accounting system as a tool to motivate managers toward an organization's goals. Count on PRINCIPLES OF COST ACCOUNTING for the most logical, relevant, and real approach to your cost accounting course.
- Practical Applications: A business currents feature has been added to call out the practical applications of cost accounting in the real world. This feature illustrates how cost accounting concepts from the chapter are practiced in business today. An end-of-chapter mini-case reinforces the concept and concludes the situation presented in the chapter introduction.
- Online Homework: Online homework is now a possibility with PRINCIPLES OF COST ACCOUNTING. The new edition boasts the addition of CengageNow to help instructors easily assign and grade homework.
- More End-Of-Chapter Problems: New and additional end-of-chapter problems have been added to expand the amount of homework instructors can assign and allow students even more practice than before.
- Updated Recall and Review Problems: The Recall and Review problems have been updated and revamped to reinforce the concepts that are presented one at a time within manageable sections of text. Specifically designated questions, exercises, problems, and self-study quizzes further test and reinforce the student's understanding of the material.
- Emphasis on Ethics: New and additional emphasis on ethics throughout this edition further reinforces these topics of growing importance.
- Brief Text: The concise 10-chapter format, unique to this text, makes it appropriate for shorter courses, while still thoroughly covering the cost accounting topics students need today.
- Comprehensive End-Of-Chapter Materials: Verified and updated end-of-chapter materials address a wide variety of subjects in varying degrees of difficulty to give you the flexibility you need in assignments and the critical review students need with key terms and corresponding page reference numbers, self-study problems, study questions, exercises, problems, mini-cases, and Internet exercises.
- Service Business Coverage: Focus on Service Business (Ch. 9) demonstrates how these businesses apply cost accounting and reflects the shift in the U.S. economy from manufacturing to service industries.
- ABC & JIT Coverage: Integration of newer costing methods addresses topics such as ABC and JIT where appropriate throughout the text to ensure students are familiar with the most recent costing techniques and methods.
2. Accounting for Materials.
3. Accounting for Labor.
4. Accounting for Factory Overhead.
5. Process Cost Accounting--General Procedures.
6. Process Cost Accounting--Additional Procedures; Accounting for Joint Products and By-Products.
7. The Master Budget and Flexible Budgeting.
8. Standard Cost Accounting--Materials, Labor, and Factory Overhead.
9. Cost Accounting for Service Businesses and the Balanced Scorecard.
10. Cost Analysis for Management Decision Making.
"This textbook teaches students how to DO cost accounting; how to account for materials, labor and FOH, and how to use job order, process, and standard costing."
"We like the conciseness, how it is well focused, relevance and the ten chapter format. The directed assignments in the chapters are excellent."
Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.
Keep cost accounting real and relevant for your students with immediate access to a rich array of teaching and learning resources at this book's companion website. Students benefit from helpful study resources, including chapter-by-chapter online quizzes, a final exam, crossword puzzles, flashcards, Excel® templates and Internet exercises. Instructor resources are available on the password protected portion of the website and include instant access to Excel® template solutions, end-of-chapter Solutions Manual, Instructor PowerPoint® slides and links to the Test Bank.
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