Details

Management and Cost Accounting

Tools and Concepts in a Central European Context
1. Aufl.

von: Andreas Taschner, Michel Charifzadeh
30,99 €
Verlag:	Wiley-VCH
Format:	EPUB
Veröffentl.:	01.09.2020
ISBN/EAN:	9783527832811
Sprache:	englisch
Anzahl Seiten:	318

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Beschreibungen

Titelbeschreibung

Management and cost accounting has been the basic toolbox in business administration for decades. Today it is an integral part of all curricula in business education and no student can afford not to be familiar with its basic concepts and instruments. At the same time, business in general, and management accounting in particular, is becoming more and more international. English clearly has evolved as the "lingua franca" of international business. Academics, students as well as practitioners exchange their views and ideas, discuss concepts and communicate with each other in English. This is certainly also true for cost accounting and management accounting. Management Accounting is becoming increasingly international. "Management and Cost Accounting" is a new English language textbook covering concepts and instruments of cost and management accounting at an introductory level (Bachelor, but also suited for MBA courses due to strong focus on practical applications and cases). This textbook covers all topics that are relevant in management accounting in business organizations and that are typically covered in German and Central European Bachelor classes on cost accounting and management accounting. After an introduction to the topic, including major differences between the German approach and the purely Anglo-Saxon approach of management accounting, the book describes different cost terms and concepts applied in German cost accounting, The book is much more specific here compared to US-American standard textbooks. Based on different cost concepts, the topic of cost behavior is discussed, including the determination of cost functions. The heart of the book guides the reader through the general structure of a fully developed cost accounting system following the German and Central European standard: It starts with cost type accounting, moves on to cost center accounting and finally deals with cost unit accounting, assigning cost to goods and services offered in the market. The remaining parts of the book deal with decision making and how management and cost accounting data can support managers in this task. A comparison of absorption costing and variable costing introduces the reader to management decisions such as product portfolio and outsourcing decisions. Additionally, cost-volume-profit analysis (break-even-analysis) is covered. The book closes with a comprehensive treatment of cost planning and variance analysis.

Inhaltsverzeichnis

Preface xi CHAPTER 1 Introduction to Management Accounting and Cost Accounting 1 The Purpose of Accounting 2 Information Needs in Business 2 Different Sources of Information for Businesses 4 A Definition of Accounting 5 The Job of an Accounting System 5 The “Accounting Family” 6 Financial Accounting 7 Cost and Management Accounting 9 Is Accounting a Universal Language? 10 Differences in Financial Accounting 11 Differences in Cost and Management Accounting 13 National Differences in Management Accounting – Problem or Strength? 15 German “Controllers” versus “Management Accountants” 16 The Role of a Controller in a Business Organization 17 Ethical Aspects of Accounting 19 CHAPTER 2 Cost Terms and Cost Concepts 23 The Meaning of “Cost” in Business 24 Comparing Cost with Other Accounting Measures 26 Company Goals as Starting Point of Accounting Measures 26 Different Accounting Measures for Different Purposes 26 Receipts and Payments: Changes in a Company’s Cash Position 26 Proceeds and Expenditures: Changes in a Company’s Monetary Assets 27 Income and Expenses: Changes in a Company’s Total Assets 28 Revenues and Costs: Changes in a Company’s Required Assets 29 Comparing Different Value Concepts in Business Operations 30 Cost Revisited: An Overview of Different Cost Concepts 39 Overview 39 Cost Concepts for Predicting Cost Behavior 39 Cost Concepts for Comparing Cost 43 Cost Concepts for Differentiating Time Reference 44 Cost Concepts for Decision making 46 Cost Concepts for Assigning Cost to Different Objects 48 Cost Concepts for Analyzing Cash Relevance 50 Cost Concepts for Preparing Financial Statements 52 Relevance of Cost Categories for Business Management 53 CHAPTER 3 Cost Behavior and Cost Estimation 61 Things to Know About Cost Behavior 62 No Costs without Cost Drivers! 63 Typical Shapes of Cost Functions 64 Cost Stickiness and Cost Elasticity 67 Mathematical Models of Cost Behavior: Cost Functions 69 Methods for Estimating Cost 72 Heuristics 72 Conference Method 73 Account Analysis Method 73 Scatterplots and Visual Fit Method 74 High-low Method 75 Regression Analysis 76 Engineering Method (Physical Measurement) 78 Comparison of Methods and Examples 79 CHAPTER 4 The Basic Structure of a Cost Accounting System 89 Cost Accounting as Information Source in Business 90 Defining the Conceptual Framework for a Cost Accounting System 92 Defining Relevant Cost Objects 93 The Minimum Set-Up 93 The Advanced Set-Up 95 Defining Principles for Recording and Allocating Cost 96 Comparing Cost Allocation Principles 101 Comparison 105 Defining Time Reference and Cost Accounting Periods 106 General Cost Accounting Principles 109 The Basic Layout of a Cost Accounting System 111 IT as an Enabler of Cost Accounting Systems 113 CHAPTER 5 Cost Type Accounting 117 Purpose and Nature of Cost Type Accounting 118 Cost Categorizations Used in Cost Type Accounting 119 Cost Categorization Chart and Chart of Accounts 119 How to Value Resource Consumption 122 Main Cost Types in Detail 123 Cost of Material 124 Cost of Labor 128 Asset-related Cost 129 Cost of Financing / Cost of Capital 130 Third Party Cost 130 Taxes and Public Fees 131 Imputed Cost 132 Imputed Depreciation 133 Imputed Interest 138 Imputed Risk Charges 142 Imputed Management Salaries 144 Imputed Rent 145 CHAPTER 6 Cost Center Accounting 151 Purpose and Nature of Cost Center Accounting 152 Splitting the Organization into Cost Centers 154 Number of Cost Centers in Practice 155 Primary Cost Allocation 157 The Cost Allocation Chart 159 Overview Cost Allocation Chart for Comparing Multiple Cost Centers 160 Detailed Cost Allocation Chart for Managing Sub-unit Cost 160 Determining the Allocation Base for Overhead Costs 161 Determining Overhead Allocation Rates 165 Internal Support Department Cost Allocation 165 Cost Allocation Problems in Internal Support Departments 166 Combining Support Cost Allocation Principles – An Example 168 Allocating Costs of Multiple Support Departments 171 Direct Method 175 Step-Down Method 177 Reciprocal Method 180 Iterative Method 182 Does Support Department Cost Allocation Really Matter? 184 CHAPTER 7 Cost Unit Accounting (Product Costing) 191 Purpose of Product Costing 192 Overview of Product Costing Methods 194 Process Costing 195 Single-Stage Process Costing 196 Two-Stage Process Costing 196 Multi-Stage Process Costing 197 Equivalence Coefficient Costing 199 Multi-Stage Equivalence Coefficient Costing 202 Job Order Costing 203 Simple Job Order Costing 204 Extended Job Order Costing 206 Department-based Costing 209 Machine Hour-Based Costing 212 Joint Product Costing 214 CHAPTER 8 Absorption Costing versus Variable Costing 221 Accounting for Profits 222 Absorption Costing 223 Absorption Costing Example 224 Strengths of Absorption Costing 226 Weaknesses of Absorption Costing 227 Variable Costing 229 Multi-Step Variable Costing 231 Variable Costing Example 233 Decision making with Variable Costing 235 Product Portfolio Decisions 235 Product Mix Decisions 237 Product Mix Decisions under Capacity Constraints 238 Special Orders 240 Outsourcing Decisions 242 Outsourcing Decisions and Opportunity Costs 245 Qualitative Factors Influencing Outsourcing Decisions 248 Cost-Volume-Profit Decisions 249 Break-Even Analysis 249 Graph Method for Break-Even Analysis 252 Target Operating Income 253 Sensitivity Analysis for Cost-Volume-Profit Decisions 254 Assumptions in Cost-Volume-Profit Analysis 256 Strengths of Variable Costing 257 Weaknesses of Variable Costing 257 CHAPTER 9 Cost Planning, Standard Costing and Variance Analysis 263 The Importance of Cost Planning 264 Conceptual Approaches to Cost Planning 265 Static Cost Planning 266 Flexible Cost Planning 268 Flexible Cost Planning Based on Full Absorption Cost 269 Flexible Cost Planning Based on Variable Cost 273 Standard Costs as Basis for Cost Planning and Cost Management 274 Variance Analysis for Cost Management 275 Types of Cost Variances 277 The Problem of Overlapping Sub-variances 279 Approaches to Dealing With Overlapping Cost Variances 282 Alternative Method 285 Proportional Method 286 Cumulative Method 288 Differential-Cumulative Method 292 Bibliography 297 Index 301

Rezension

"...Management Accounting wird immer internationaler. Das Lehrbuch in englischer Sprache bietet einen Überblick über die Konzepte und Instrumente der Kosten- und Leistungsrechnung und fokussiert sich dabei auf praktische Anwendungsfälle. Herzstück des Buches ist ein System für Vollkostenrechnung nach deutschem und mitteleuropäischem Standard." (Controlling & Management Review, 06_2016) "Dieses Buch ist das erste Buch, welches die Kosten und Leistungsrechnung aus mitteleuropäischer Sicht in englischer Sprache erklärt. DAS ist sehr hilfreich." (Danile Schlosser; Hochschule Fulda, Dez. 2017)

Autorenportrait

Both authors hold a chair and teach at ESB Business School, Reutlingen University. They have been researching and teaching in the field of management and accounting and management control for many years. Andreas Taschner holds a diploma and a doctoral degree from Wirtschaftsuniversität Wien (Vienna University of Economics and Business). He has more than 10 years of industry experience. He was appointed professor of management accounting at ESB Business School at Reutlingen University in 2011. His teaching and research interests include comparative management accounting, management reporting, investment appraisal techniques, and supply chain accounting. Michel Charifzadeh holds a diploma in business administration from Ludwig-Maximilians University Munich and received his doctoral degree from EBS Universität für Wirtschaft und Recht, Oestrich-Winkel. He has worked for several years as a project manager in mergers & acquisitions at Siemens AG. As a professor of finance and accounting he was employed at the International University of Bad Honnef-Bonn before he was appointed in 2011 to ESB Business School at Reutlingen University. His teaching and research interests include value based management, performance measurement, company valuation and International Financial Reporting Standards (IFRS).