Thư viện tri thức trực tuyến
Kho tài liệu với 50,000+ tài liệu học thuật
© 2023 Siêu thị PDF - Kho tài liệu học thuật hàng đầu Việt Nam
Managerial Accounting
Nội dung xem thử
Mô tả chi tiết
NINTH EDITION
Managerial
Accounting
This page intentionally left blank
NINTH EDITION
Susan V. Crosson, M.S. Accounting, C.P.A
Santa Fe College
Belverd E. Needles, Jr., Ph.D., C.P.A., C.M.A.
DePaul University
Managerial
Accounting
Managerial Accounting,
Ninth Edition
Susan Crosson, Belverd Needles
Vice President of Editorial, Business:
Jack W. Calhoun
Editor in Chief: Rob Dewey
Executive Editor: Sharon Oblinger
Supervising Developmental Editor:
Katie Yanos
Sr. Marketing Manager: Kristen Hurd
Marketing Coordinator: Heather Mooney
Sr. Marketing Communications Manager:
Libby Shipp
Content Project Manager: Darrell Frye
Media Editor: Bryan England
Editorial Assistant: Julie Warwick
Frontlist Buyer, Manufacturing: Doug Wilke
Production Service:
S4Carlisle Publishing Services
Sr. Art Director: Stacy Jenkins Shirley
Cover and Internal Designer: Grannan
Graphic Design
Cover Image: ©Getty Images/Image Bank
Permissions Account Manager: John Hill
© 2011, 2008 South-Western, Cengage Learning
Photo Credits: p. 3, Dorling Kindersley/Getty Images; p. 45, Caro/Alamy;
p. 91, Lori Adamski Peek /Workbook Stock/Getty Images; p. 129, Tim Boyle/Newsmakers/
Getty Images; p. 167, AP Photo/Carlos Osorio; p. 207, Ben Bloom/Getty images; p. 249,
Laura Doss/Fancy/PhotoLibrary; p.301, Ben Blankenburg/istockphoto; p. 345, UPI Photo/
Kevin Dietsch/Newscom; p. 393, Jupiterimages; p. 433, Monkey Business Images, 2009/
Used under license from Shutterstock.com; p. 471, AP Photo/Mark Lennihan; p. 517,
© Richard Levine/Alamy; p. 555 AP Photo/Martin Mejia
ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be
reproduced, transmitted, stored, or used in any form or by any means graphic, electronic,
or mechanical, including but not limited to photocopying, recording, scanning, digitizing,
taping, web distribution, information networks, or information storage and retrieval
systems, except as permitted under Section 107 or 108 of the 1976 United States
Copyright Act, without the prior written permission of the publisher.
For product information and technology assistance, contact us at
Cengage Learning Customer & Sales Support, 1-800-354-9706
For permission to use material from this text or product,
submit all requests online at www.cengage.com/permissions
Further permissions questions can be emailed to
ExamView® is a registered trademark of eInstruction Corp. Windows is a registered
trademark of the Microsoft Corporation used herein under license. Macintosh and Power
Macintosh are registered trademarks of Apple Computer, Inc. used herein under license.
© 2011 Cengage Learning. All Rights Reserved.
Cengage Learning WebTutor™ is a trademark of Cengage Learning.
Library of Congress Control Number: 2009943379
Student Edition ISBN 10: 0-538-74280-1
Student Edition ISBN 13: 978-0-538-74280-1
Instructors Edition ISBN 10: 0-538-74281-X
Instructors Edition ISBN 13: 978-0-538-74281-8
South-Western Cengage Learning
5191 Natorp Boulevard
Mason, OH 45040
USA
Cengage Learning products are represented in Canada by
Nelson Education, Ltd.
For your course and learning solutions, visit www.cengage.com
Purchase any of our products at your local college store or at our
preferred online store www.cengagebrain.com
Printed in the United States of America
1 2 3 4 5 6 7 14 13 12 11 10
v
1 The Changing Business Environment: A Manager’s Perspective 2
2 Cost Concepts and Cost Allocation 44
3 Costing Systems: Job Order Costing 90
4 Costing Systems: Process Costing 128
5 Value-Based Systems: ABM and Lean 166
6 Cost Behavior Analysis 206
7 The Budgeting Process 248
8 Performance Management and Evaluation 300
9 Standard Costing and Variance Analysis 344
10 Short-Run Decision Analysis 392
11 Capital Investment Analysis 432
12 Pricing Decisions, Including Target Costing and Transfer
Pricing 470
13 Quality Management and Measurement 516
14 Financial Analysis of Performance 554
APPENDIX A Present Value Tables 604
BRIEF CONTENTS
This page intentionally left blank
vii
Preface xv
About the Authors xxix
CONTENTS
CHAPTER 1 The Changing Business Environment: A Manager’s Perspective 2
DECISION POINT A MANAGER’S FOCUS WAL-MART
STORES, INC. 3
The Role of Management Accounting 4
Management Accounting and Financial Accounting:
A Comparison 4
Management Accounting and the Management
Process 5
Value Chain Analysis 11
Primary Processes and Support Services 12
Advantages of Value Chain Analysis 13
Managers and Value Chain Analysis 13
Continuous Improvement 15
Management Tools for Continuous
Improvement 16
Achieving Continuous Improvement 17
Performance Measures: A Key to Achieving
Organizational Objectives 19
Using Performance Measures in the Management
Process 19
The Balanced Scorecard 20
Benchmarking 22
Standards of Ethical Conduct 22
A LOOK BACK AT WAL-MART STORES, INC. 25
STOP & REVIEW 27
CHAPTER ASSIGNMENTS 29
CHAPTER 2 Cost Concepts and Cost Allocation 44
DECISION POINT A MANAGER’S FOCUS THE HERSHEY
COMPANY 45
Cost Information 46
Managers’ Use of Cost Information 46
Cost Information and Organizations 46
Cost Classifications and Their Uses 46
Cost Traceability 47
Cost Behavior 48
Value-Adding Versus Nonvalue-Adding
Costs 48
Cost Classifications for Financial Reporting 48
Financial Statements and the Reporting
of Costs 50
Income Statement and Accounting for
Inventories 50
Statement of Cost of Goods Manufactured 51
Cost of Goods Sold and a Manufacturer’s Income
Statement 53
Inventory Accounts in Manufacturing
Organizations 54
Document Flows and Cost Flows Through the
Inventory Accounts 54
The Manufacturing Cost Flow 56
Elements of Product Costs 58
Prime Costs and Conversion Costs 59
Computing Product Unit Cost 59
viii Contents
CHAPTER 3 Costing Systems: Job Order Costing 90
DECISION POINT A MANAGER’S FOCUS COLD STONE
CREAMERY, INC. 91
Product Unit Cost Information and the
Management Process 92
Planning 92
Performing 92
Evaluating 92
Communicating 92
Product Costing Systems 93
Job Order Costing in a Manufacturing
Company 95
Materials 96
Labor 98
Overhead 98
Completed Units 99
Sold Units 99
Reconciliation of Overhead Costs 100
A Job Order Cost Card and the Computation
of Unit Cost 101
A Manufacturer’s Job Order Cost Card and the
Computation of Unit Cost 101
Job Order Costing in a Service Organization 102
A LOOK BACK AT COLD STONE CREAMERY, INC. 105
STOP & REVIEW 107
CHAPTER ASSIGNMENTS 109
CHAPTER 4 Costing Systems: Process Costing 128
DECISION POINT A MANAGER’S FOCUS DEAN
FOODS 129
The Process Costing System 130
Patterns of Product Flows and Cost Flow
Methods 131
Cost Flows Through the Work in Process Inventory
Accounts 132
Computing Equivalent Production 133
Equivalent Production for Direct Materials 134
Equivalent Production for Conversion Costs 135
Summary of Equivalent Production 135
Preparing a Process Cost Report Using the
FIFO Costing Method 136
Accounting for Units 136
Accounting for Costs 139
Assigning Costs 139
Process Costing for Two or More Production
Departments 141
Preparing a Process Cost Report Using the
Average Costing Method 143
Accounting for Units 143
Accounting for Costs 145
Assigning Costs 145
A LOOK BACK AT DEAN FOODS 148
STOP & REVIEW 151
CHAPTER ASSIGNMENTS 153
Product Cost Measurement Methods 60
Computing Service Unit Cost 62
Cost Allocation 63
Allocating the Costs of Overhead 63
Allocating Overhead: The Traditional Approach 65
Allocating Overhead: The ABC Approach 67
A LOOK BACK AT THE HERSHEY COMPANY 69
STOP & REVIEW 71
CHAPTER ASSIGNMENTS 74
Contents ix
CHAPTER 5 Value-Based Systems: ABM and Lean 166
DECISION POINT A MANAGER’S FOCUS LA-Z-BOY,
INC. 167
Value-Based Systems and
Management 168
Value Chains and Supply Chains 169
Process Value Analysis 170
Value-Adding and Non-Value-Adding Activities 171
Value-Based Systems 171
Activity-Based Management 171
Managing Lean Operations 172
Activity-Based Costing 172
The Cost Hierarchy and the Bill of Activities 173
The New Operating Environment and Lean
Operations 176
Just-in-Time (JIT) 176
Continuous Improvement of the Work
Environment 178
Accounting for Product Costs in a JIT Operating
Environment 178
Backflush Costing 180
Comparison of ABM and Lean 184
A LOOK BACK AT LA-Z-BOY, INC. 185
STOP & REVIEW 188
CHAPTER ASSIGNMENTS 190
CHAPTER 6 Cost Behavior Analysis 206
DECISION POINT A MANAGER’S FOCUS FLICKR 207
Cost Behavior and Management 208
The Behavior of Costs 208
Mixed Costs and the Contribution Margin
Income Statement 214
The Engineering Method 214
The Scatter Diagram Method 214
The High-Low Method 215
Statistical Methods 217
Contribution Margin Income Statements 217
Cost-Volume-Profit Analysis 218
Breakeven Analysis 220
Using an Equation to Determine the Breakeven
Point 221
The Breakeven Point for Multiple Products 222
Using C-V-P Analysis to Plan Future Sales,
Costs, and Profits 225
Applying C-V-P to Target Profits 225
A LOOK BACK AT FLICKR 228
STOP & REVIEW 231
CHAPTER ASSIGNMENTS 233
CHAPTER 7 The Budgeting Process 248
DECISION POINT A MANAGER’S FOCUS FRAMERICA
CORPORATION 249
The Budgeting Process 250
Advantages of Budgeting 250
Budgeting and Goals 251
Budgeting Basics 251
The Master Budget 253
Preparation of a Master Budget 253
Budget Procedures 256
Operating Budgets 257
The Sales Budget 257
The Production Budget 258
The Direct Materials Purchases Budget 259
The Direct Labor Budget 261
x Contents
The Overhead Budget 261
The Selling and Administrative Expense
Budget 262
The Cost of Goods Manufactured Budget 263
Financial Budgets 265
The Budgeted Income Statement 265
The Capital Expenditures Budget 266
The Cash Budget 266
The Budgeted Balance Sheet 269
A LOOK BACK AT FRAMERICA CORPORATION 271
STOP & REVIEW 274
CHAPTER ASSIGNMENTS 276
CHAPTER 9 Standard Costing and Variance Analysis 344
DECISION POINT A MANAGER’S FOCUS iROBOT
CORPORATION 345
Standard Costing 346
Standard Costs and Managers 346
Computing Standard Costs 347
Standard Direct Materials Cost 347
Standard Direct Labor Cost 347
Standard Overhead Cost 348
Total Standard Unit Cost 349
Variance Analysis 350
The Role of Flexible Budgets in Variance
Analysis 350
Using Variance Analysis to Control Costs 352
Computing and Analyzing Direct Materials
Variances 355
Computing Direct Materials Variances 355
Analyzing and Correcting Direct Materials
Variances 357
CHAPTER 8 Performance Management and Evaluation 300
DECISION POINT A MANAGER’S FOCUS VAIL
RESORTS 301
Performance Measurement 302
What to Measure, How to Measure 302
Other Measurement Issues 302
Organizational Goals and the Balanced
Scorecard 303
The Balanced Scorecard and Management 303
Responsibility Accounting 305
Types of Responsibility Centers 306
Organizational Structure and Performance
Management 308
Performance Evaluation of Cost Centers and
Profit Centers 310
Evaluating Cost Center Performance Using Flexible
Budgeting 310
Evaluating Profit Center Performance Using
Variable Costing 311
Performance Evaluation of Investment
Centers 313
Return on Investment 313
Residual Income 315
Economic Value Added 316
The Importance of Multiple Performance
Measures 318
Performance Incentives and Goals 319
Linking Goals, Performance Objectives, Measures,
and Performance Targets 319
Performance-Based Pay 320
The Coordination of Goals 320
A LOOK BACK AT VAIL RESORTS 323
STOP & REVIEW 326
CHAPTER ASSIGNMENTS 328
Contents xi
Computing and Analyzing Direct Labor
Variances 358
Computing Direct Labor Variances 358
Analyzing and Correcting Direct Labor Variances 360
Computing and Analyzing Overhead
Variances 361
Using a Flexible Budget to Analyze Overhead
Variances 361
Computing Overhead Variances 362
Analyzing and Correcting Overhead
Variances 367
Using Cost Variances to Evaluate Managers’
Performance 369
A LOOK BACK AT iROBOT CORPORATION 371
STOP & REVIEW 376
CHAPTER ASSIGNMENTS 378
CHAPTER 10 Short-Run Decision Analysis 392
DECISION POINT A MANAGER’S FOCUS BANK OF
AMERICA 393
Short-Run Decision Analysis and the
Management Process 394
Incremental Analysis for Short-Run Decisions 394
Incremental Analysis for Outsourcing
Decisions 397
Incremental Analysis for Special Order
Decisions 399
Incremental Analysis for Segment
Profitability Decisions 402
Incremental Analysis for Sales Mix
Decisions 404
Incremental Analysis for Sell or ProcessFurther Decisions 407
A LOOK BACK AT BANK OF AMERICA 410
STOP & REVIEW 413
CHAPTER ASSIGNMENTS 415
CHAPTER 11 Capital Investment Analysis 432
DECISION POINT A MANAGER’S FOCUS AIR PRODUCTS
AND CHEMICALS INC. 433
The Capital Investment Process 434
Capital Investment Analysis 434
Capital Investment Analysis in the Management
Process 435
The Minimum Rate of Return on Investment 437
Cost of Capital 437
Other Measures for Determining Minimum Rate of
Return 438
Ranking Capital Investment Proposals 438
Measures Used in Capital Investment
Analysis 439
Expected Benefits from a Capital Investment 439
Equal Versus Unequal Cash Flows 440
Carrying Value of Assets 440
Depreciation Expense and Income Taxes 440
Disposal or Residual Values 441
The Time Value of Money 442
Interest 442
Present Value 443
Present Value of a Single Sum Due
in the Future 444
Present Value of an Ordinary Annuity 444
The Net Present Value Method 446
Advantages of the Net Present Value Method 446
The Net Present Value Method Illustrated 446
Other Methods of Capital Investment
Analysis 449
The Payback Period Method 449
The Accounting Rate-of-Return Method 450
A LOOK BACK AT AIR PRODUCTS
AND CHEMICALS INC. 452
STOP & REVIEW 454
CHAPTER ASSIGNMENTS 456
xii Contents
CHAPTER 13 Quality Management and Measurement 516
DECISION POINT A MANAGER’S FOCUS AMAZON
.COM 517
The Role of Management Information
Systems in Quality Management 518
Enterprise Resource Planning Systems 518
Managers’ Use of MIS 518
Financial and Nonfinancial Measures
of Quality 520
Financial Measures of Quality 520
Nonfinancial Measures of Quality 521
Measuring Service Quality 525
Measuring Quality: An Illustration 526
Evaluating the Costs of Quality 526
Evaluating Nonfinancial Measures of Quality 529
The Evolving Concept of Quality 530
Recognition of Quality 532
A LOOK BACK AT AMAZON.COM 534
STOP & REVIEW 536
CHAPTER ASSIGNMENTS 538
CHAPTER 12 Pricing Decisions, Including Target Costing
and Transfer Pricing 470
DECISION POINT A MANAGER’S FOCUS LAB 126 471
The Pricing Decision and the Manager 472
Pricing Policies 472
Pricing Policy Objectives 472
Pricing and the Management Process 473
External and Internal Pricing Factors 473
Economic Pricing Concepts 475
Total Revenue and Total Cost Curves 475
Marginal Revenue and Marginal Cost Curves 477
Auction-Based Pricing 477
Cost-Based Pricing Methods 478
Gross Margin Pricing 479
Return on Assets Pricing 480
Summary of Cost-Based Pricing Methods 481
Pricing Services 482
Factors Affecting Cost-Based Pricing Methods 483
Pricing Based on Target Costing 485
Differences Between Cost-Based Pricing and Target
Costing 485
Target Costing Analysis in an Activity-Based
Management Environment 487
Pricing for Internal Providers of Goods
and Services 489
Transfer Pricing 489
Developing a Transfer Price 490
Other Transfer Price Issues 491
Using Transfer Prices to Measure Performance 491
A LOOK BACK AT LAB 126 493
STOP & REVIEW 496
CHAPTER ASSIGNMENTS 498
Contents xiii
CHAPTER 14 Financial Analysis of Performance 554
DECISION POINT A MANAGER’S FOCUS STARBUCKS
CORPORATION 555
Foundations of Financial Performance
Measurement 556
Financial Performance Measurement: Management’s
Objectives 556
Financial Performance Measurement: Creditors’ and
Investors’ Objectives 556
Standards of Comparison 557
Sources of Information 559
Executive Compensation 561
Tools and Techniques of Financial
Analysis 563
Horizontal Analysis 563
Trend Analysis 566
Vertical Analysis 567
Ratio Analysis 569
Comprehensive Illustration of Ratio
Analysis 571
Evaluating Liquidity 571
Evaluating Profitability 573
Evaluating Long-Term Solvency 574
Evaluating the Adequacy of Cash Flows 575
Evaluating Market Strength 577
A LOOK BACK AT STARBUCKS CORPORATION 578
STOP & REVIEW 583
CHAPTER ASSIGNMENTS 585
APPENDIX A Present Value Tables 604
Endnotes 608
Company Index 610
Subject Index 612
This page intentionally left blank