Cornerstones of Cost Accounting, 1st Edition

  • Don Hansen Oklahoma State University
  • Maryanne M. Mowen Oklahoma State University
  • ISBN-10: 053873678X  |  ISBN-13: 9780538736787
  • 1056 Pages
  • Previous Editions: 2009, 2006, 2003
  • © 2011 | Published
  • Newer Edition Available
  • Instructor Companion Site
  • Request a Copy
     

    About

    Overview

    Hansen/Mowen's CORNERSTONES OF COST ACCOUNTING demonstrates the dynamic, exciting nature of cost accounting in today's changing business environment. The text first covers functional-based cost and control and then activity-based cost systems, giving students the understanding and skills to manage any cost management system. Cornerstones examples throughout each chapter provide students with step-by-step coverage of the How, Why, and What Ifs of solving and mastering basic cost management concepts, while also getting at the conceptual understanding that students often struggle to grasp. This edition's expansive coverage and consistent attention to technical detail provide a thorough, well-researched foundation for learning. It addresses the most recent influential topics and emerging processes affecting the discipline, including a chapter on productivity measurement and lean accounting and a focus on technology tools that positively impact internal costing practices.


    Features/Benefits

    • Cornerstones Examples throughout each chapter provide students with step-by-step coverage of the How, Why, and What Ifs of solving and mastering basic cost management concepts. This method presents them with a model to help them truly grasp the calculations and therefore more easily complete homework, while also helping them understand why they are doing the calculation. The What If feature takes it a step further, challenging students to think past the numbers and understand the true concept behind the equations.
    • Cornerstones Exercises: Based on our research on student learning behavior, the authors have also created specific Cornerstones Exercises. These exercises in the end of chapter are structured like the Cornerstones Examples in the text and list which Cornerstone Example is their match. These questions allow students to have some guidance and practice before moving on to the more complex questions in the end of chapter.
    • Student-Friendly Organization: In addition to end of chapter material such as the Cornerstones Exercises and the list of the important equations discussed within that chapter, we have included a guide to the Cornerstones Examples and where to find them, allowing students to quickly reference them when needed. All exercises and problems in the End of Chapter also reference the learning objective they are addressing, making it easier for you to decide what to assign to your students, and helping your students understand what they should be learning from each exercise.
    • Service Sector Focus: The significance of the service sector is recognized in this text through the extensive application of cost management principles to services. The text explains that services are not simply less complicated manufacturing settings but instead have their own characteristics.
    • Cost Management Information Systems Approach: By focusing on ABC or unit-based systems and the implications of implementing those systems separately, the discussion of these specific approaches stands alone, giving you the flexibility to modify the coverage to best meet the needs of your specific course.
    • Budgeting Coverage: For a more integrated discussion, all budgeting and activity-based budgeting topics are covered extensively within one comprehensive chapter.
    • Historical Perspective: Chapter 1 provides a brief history of cost accounting. The historical perspective allows students to see why functional-based cost management systems work well in some settings but no longer work for other settings.
    • Real-World Focus: All chapters include numerous references to real companies such as the Walt Disney Company, McDonalds, RadioShack, Lands' End, and many more to help illustrate each topic for students, ensuring your students understand the relevance and real-world application of the concepts discussed.
    • Review Problems: All chapters (except Chapter 1) include review problems and solutions. These problems demonstrate the computational aspects of chapter materials and reinforce the students' understanding of chapter concepts before they undertake end-of-chapter materials.

    Table of Contents

    Part I: FOUNDATION CONCEPTS.
    1. Introduction to Cost Management.
    2. Basic Cost Management Concepts.
    3. Cost Behavior.
    4. Activity-Based Costing.
    Part II: FUNDAMENTAL COSTING AND CONTROL.
    5. Product and Service Costing: Job-Order System.
    6. Process Costing.
    7. Allocating Costs of Support Departments and Joint Products.
    8. Budgeting for Planning and Control.
    9. Standard Costing: A Functional-Based Control Approach.
    10. Decentralization: Responsibility Accounting, Performance Evaluation, and Transfer Pricing.
    Part III: ADVANCED COSTING AND CONTROL.
    11. Strategic Cost Management.
    12. Activity-Based Management.
    13. The Balanced Scorecard: Strategic-Based Control.
    14. Quality and Environmental Cost Management.
    15. Productivity Measurement and Control and Lean Accounting.
    Part IV: DECISION MAKING.
    16. Cost-Volume-Profit Analysis.
    17. Activity Resource Usage Model and Tactical Decision Making.
    18. Pricing and Profitability Analysis.
    19. Capital Investment.
    20. Inventory Management: Economic Order Quantity, JIT, and the Theory of Constraints.

    Alternate Formats

    Choose the Format that Best Fits Your Student's Budget and Course Goals

    To customize your learning solution, contact your Cengage Learning representative for more information.


    • Loose Leaf Edition
      ISBN-10: 0538469080 | ISBN-13: 9780538469081

    Learning Resource Bundles

    Learning Resource Bundles

    Convenient, cost-effective bundles provide additional resources to boost student engagement. Contact your Learning Consultant for more information.


    Bundle: Text + CengageNOW Printed Access Card
    ISBN-10: 1111121176  | ISBN-13: 9781111121174


    Bundle: Cornerstones of Cost Accounting + Global Economic Watch GEC Resource Center Printed Access Card + CengageNOW with eBook Printed Access Card
    ISBN-10:  111169818X  | ISBN-13:  9781111698188


    Bundle: Text + Experiencing Accounting Video Series Printed Access Card
    ISBN-10:  1111121060  | ISBN-13:  9781111121068


    Printed Text + CengageNOW Instant Access Code
    ISBN-10:  1111624402  | ISBN-13:  9781111624408


    ePack: Printed Text + Experiencing Accounting Video Series Instant Access
    ISBN-10:  1305603613 | ISBN-13:  9781305603615


    Efficacy and Outcomes

    Reviews

    "This is one of the best books on the market . . . Hansen & Mowen is the book I have adopted. I like it and recommend it to other teachers. I am a huge fan of this author team. This is flat out an excellent book. The assignments are excellent."
    — Cecile Batiste, Valencia Community College
    "When I originally reviewed cost accounting books, I chose this one because of its exposition and layout. The layout allowed the more traditional professors to stress the first ten chapters. My personal interests correspond to chapters 11-16. The material from chapters 17-20 are emphasized in the Freshman-level Introduction to Management Accounting."
    — Bruce Bradford, Fairfield University

    Supplements

    Instructor Supplements

    Instructor Supplements

    All supplements have been updated in coordination with the main title. Select the main title's "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

    Cornerstones of Cost Accounting  (ISBN-10: 0538469080 | ISBN-13: 9780538469081)

    Hansen/Mowen's CORNERSTONES OF COST ACCOUNTING demonstrates the dynamic, exciting nature of cost accounting in today's changing business environment. The text first covers functional-based cost and control and then activity-based cost systems, giving students the understanding and skills to manage any cost management system. Cornerstones examples throughout each chapter provide students with step-by-step coverage of the How, Why, and What Ifs of solving and mastering basic cost management concepts, while also getting at the conceptual understanding that students often struggle to grasp. This edition's expansive coverage and consistent attention to technical detail provide a thorough, well-researched foundation for learning. It addresses the most recent influential topics and emerging processes affecting the discipline, including a chapter on productivity measurement and lean accounting and a focus on technology tools that positively impact internal costing practices.


    Cengage Learning eBook  (ISBN-10: 0840063482 | ISBN-13: 9780840063489)


    CengageNOW Instant Access Code  (ISBN-10: 0840035896 | ISBN-13: 9780840035899)

    Ensure that your students have the understanding they need of accounting procedures and concepts they need to know with CengageNOW. This integrated, online course management and learning system combines the best of current technology to save to time in planning and managing your course and assignments. You can reinforce comprehension with customized student learning paths and efficiently test and automatically grade assignments with reports that correspond to AACSB, AICPA, and IMA standards. This online instant access code allows students to access CengageNOW. For your convenience, CengageNOW is also compatible with WebCT® and Blackboard®. For more information, visit cengage.com/cengagenow.


    Solutions Manual  (ISBN-10: 053874961X | ISBN-13: 9780538749619)


    WebTutor™ on WebCT™, 1 term (6 months) Instant Access  (ISBN-10: 1423926382 | ISBN-13: 9781423926382)

    Leverage the power of the Internet and bring your course to life with this course management program. You or your students can use this wealth of interactive resources with those on the text's companion website to supplement the classroom experience and ensure positive outcomes. Use this effective resource as an integrated solution for your distance learning or web-enhanced course. This printed access card allows students to access WebTutor™ on the WebCT® platform. For more information, visit http://www.cengage.com/tlc/webtutor.


    WebTutor™ on Blackboard®, 1 term (6 months) Instant Access  (ISBN-10: 1423926366 | ISBN-13: 9781423926368)

    Leverage the power of the Internet and bring your course to life with this course management program. You or your students can use this wealth of interactive resources with those on the text's companion website to supplement the classroom experience and ensure positive outcomes. Use this effective resource as an integrated solution for your distance learning or Web-enhanced course. This printed access card allows students to access WebTutor™ on the Blackboard® platform. For more information, visit http://www.cengage.com/tlc/webtutor.


    Instructor's Resource CD-ROM  (ISBN-10: 053874958X | ISBN-13: 9780538749589)

    Place all the key resources you need at your fingertips with this Instructor's Resource CD. This tool provides instant access to the Solutions Manual, Instructor's Manual, Test Bank, ExamView® testing software, Excel® Spreadsheet Templates and solutions, and PowerPoint® slides.


    Algorithmic Test Bank  (ISBN-10: 1111058830 | ISBN-13: 9781111058838)


    Student Supplements

    Student Supplements

    All supplements have been updated in coordination with the main title. Select the main title's "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

    Cornerstones of Cost Accounting  (ISBN-10: 0538469080 | ISBN-13: 9780538469081)

    Hansen/Mowen's CORNERSTONES OF COST ACCOUNTING demonstrates the dynamic, exciting nature of cost accounting in today's changing business environment. The text first covers functional-based cost and control and then activity-based cost systems, giving you the knowledge and skills to manage any cost management system. Cornerstones examples throughout each chapter provide you with step-by-step coverage of the How, Why, and What Ifs of solving and mastering basic cost management concepts, while also getting at the conceptual understanding that is often difficult to grasp. This edition's expansive coverage and consistent attention to technical detail provide a thorough, well-researched foundation for learning. It addresses the most recent influential topics and emerging processes affecting the discipline, including a chapter on productivity measurement and lean accounting and a focus on technology tools that positively impact internal costing practices.


    Cengage Learning eBook  (ISBN-10: 0840063482 | ISBN-13: 9780840063489)


    CengageNOW Instant Access Code  (ISBN-10: 0840035896 | ISBN-13: 9780840035899)

    CengageNOW is an easy-to-use online resource that helps you study in less time to get the grade you want. This integrated system helps you efficiently manage and complete homework assignments from the text. Take pre-tests to determine the areas which require more practice and direct you to review tutorials, demonstration exercises, videos, eBook content, and fun accounting games to help learn the material, and get feedback on post-tests that check your comprehension afterward. This online instant access code allows access to CengageNOW.


    WebTutor™ on WebCT™, 1 term (6 months) Instant Access  (ISBN-10: 1423926382 | ISBN-13: 9781423926382)

    Much more than an interactive study guide, WebTutor™ lets you leverage the power of the Internet to reinforce your learning experience and ensure the grade you want in this course. You will find a wealth of interactive resources, such as interactive quizzes, multimedia concepts, tutorials, videos, online exercises, and flashcards that work seamlessly with the text's companion website to provide a dynamic learning environment. This printed access card allows access to WebTutor™ on the WebCT® platform.


    WebTutor™ on Blackboard®, 1 term (6 months) Instant Access  (ISBN-10: 1423926366 | ISBN-13: 9781423926368)

    Much more than an interactive study guide, WebTutor™ lets you leverage the power of the Internet to reinforce your learning experience and ensure the grade you want in this course. You will find a wealth of interactive resources, such as interactive quizzes, multimedia concepts, tutorials, videos, online exercises, and flashcards that work seamlessly with the text's companion website to provide a dynamic learning environment. This printed access card allows access to WebTutor™ on the Blackboard® platform.


    Meet the Author

    About the Author

    Don Hansen

    Don R. Hansen is Arthur Andersen Professor of Accounting and a Regents Service Professor at Oklahoma State University. He received his Ph.D. from the University of Arizona in 1977. He has an undergraduate degree in mathematics from Brigham Young University. His research interests include activity-based costing and mathematical modeling. He has published articles in both accounting and engineering journals including The Accounting Review, The Journal of Management Accounting Research, Accounting Horizons, and IIE Transactions. He has served on the editorial board of The Accounting Review. His outside interests include family, church activities, reading, movies, and watching sports.

    Maryanne M. Mowen

    Dr. Maryanne M. Mowen is Associate Professor Emerita of Accounting at Oklahoma State University. She currently teaches online classes in cost and management accounting for Oklahoma State University. She received her Ph.D. from Arizona State University. Dr. Mowen brings a unique interdisciplinary perspective to teaching and writing in cost and management accounting, with degrees in history and economics. She has taught classes in ethics and the impact of the Sarbanes-Oxley Act on accountants. Her scholarly research focuses on areas of management accounting, behavioral decision theory, and compliance with the Sarbanes-Oxley Act. She has published articles in journals, such as DECISION SCIENCE, THE JOURNAL OF ECONOMICS AND PSYCHOLOGY, and THE JOURNAL OF MANAGEMENT ACCOUNTING RESEARCH. Dr. Mowen has served as a consultant to mid-sized and Fortune 100 companies and works with corporate controllers on management accounting issues. She is a member of the Northern New Mexico chapter of SCORE and serves as a counselor, assisting small and start-up businesses. Outside the classroom, she enjoys hiking, traveling, reading mysteries, and working crossword puzzles.