Test Bank for Cost Management Measuring Monitoring and Motivating Performance 3rd Canadian Edition by Leslie Eldenburg, Susan Wolcott, Liang Hsuan Chen, Gail Cook 1119254337 9781119254331

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ISBN-10 : 1119254337 

ISBN-13 : 9781119254331

Author: Leslie G. Eldenburg, Susan K. Wolcott, Liang-Hsuan Chen, Gail Cook

Cost Management: Measuring, Monitoring, and Motivating Performance, Third Canadian Edition was written to help students learn to appropriately apply cost accounting methods in a variety of organizational settings. To achieve this goal, students must also develop professional competencies, such as strategic/critical thinking, risk analysis, decision making, ethical reasoning and communication. This is in line with the CPA curriculum and the content of this edition and the problem materials is mapped to the CPA.  Many students fail to recognize the assumptions, limitations, behavioural implications, and qualitative factors that influence managerial decision making. The textbook is written in an engaging step-by-step style that is accessible to students. The authors are proactive about addressing the challenges that instructors and students face in their teaching and learning endeavors. They utilize features such as realistic examples, real ethical dilemmas, self-study problems and unique problem material structured to encourage students to think about accounting problems and problem-solving more complexly.

 

Cost Management Measuring Monitoring and Motivating Performance 3rd Table of contents:

1 The Role of Accounting Information in Ethical Management Decision Making

Good Ethics Makes Good Business

Strategic Management and Decision Making

Levers of Control

Cost Accounting and Decision Making

Information Systems and Relevant Information in Management Decision Making

Business Risk

Decision-Making Biases

Quality of Management Decision Making

Ethical Decision Making

Appendix 1A Professional Conduct and Ethical Behaviour

Appendix 1B Steps for Better Thinking: A Decision-Making Process

Summary

2 Cost Concepts, Behaviour, and Estimation

When Cost Estimates Are Off Target

Cost Concepts and Terminology

Cost Behaviour

Cost Estimation Techniques

Estimating the Cost Function

Regression Analysis

Uses and Limitations of Cost Estimates

Appendix 2A Regression Analysis—Additional Topics

Multiple Regression Analysis

Regression Analysis Assumptions

Additional Regression Analysis Considerations

Appendix 2B Learning Curves

Summary

3 Cost-Volume-Profit Analysis

Rising Commodity Prices Hurt Tim Hortons

Cost-Volume-Profit Analysis

Performing CVP Analysis

Performing CVP Analyses with a Spreadsheet

Assumptions and Limitations of Cost-Volume-Profit Analysis

Margin of Safety and Degree of Operating Leverage

Analysis of Income Statement Formats

Appendix 3A Spreadsheet Formulas for Magik Bicycles Spreadsheet

Summary

4 Relevant Information for Decision Making

Should it Stay or Should it Go?

Relevant Information for Decision Making

Product Line and Business Segment (Keep or Drop) Decisions

Insource or Outsource (Make or Buy) Decisions

Special Orders

Product Emphasis Decisions

Methods for Relaxing Constraints

Quality of Operating Decisions

Appendix 4A Using Excel Solver for Product Emphasis and Constrained Resource Decisions

Summary

5 Job Costing

Bombardier: Custom Manufacturing

Product Costs and Cost Flows

Assigning Product Costs to Individual Goods or Services

Allocating Overhead

Uses and Limitations of Job Cost Information

Spoilage, Rework, and Scrap in Job Costing

Production Quality and Behaviour Implications

Summary

6 Process Costing

Fruit d’Or—Growing Business Through Innovation

Accounting for the Cost of Mass-Produced Goods

Process Costing Methods

Alternative Systems for Costing Mass Production

Accounting for Spoilage in Process Costing

Process Cost Information and Managers’ Incentives and Decisions

Summary

7 Activity-Based Costing and Management

The ABC’s of Better Cost Allocation

Activity-Based Costing (ABC)

ABC Cost Hierarchy

Assigning Costs Using an ABC System

Activity-Based Management

Other Multi-Pool, Multi-Driver Cost Accounting Systems

Multi-Pool, Multi-Driver Systems, Decision Making, and Incentives

Summary

8 Measuring and Assigning Support Department Costs

Helping Canada’s Universities and Colleges with Indirect Research Costs

Support Department Cost Allocation

The Process for Allocating Support Department Costs

The Direct Method of Allocation

The Step-Down Method of Allocation

The Reciprocal Method of Allocation

Single- Versus Dual-Rate Allocations

Support Cost Allocations, Information Quality, and Decision Making

Appendix 8A Using Solver to Calculate Simultaneous Equations for the Reciprocal Method

Summary

9 Joint Product and By-product Costing

Creating a Diversion: City of Hamilton Rethinks Its Waste

Joint Products and Costs

Allocating Joint Costs

Choosing an Appropriate Joint Cost Allocation Method

Processing a Joint Product Beyond the Split-off Point

Joint Products and By-products

Joint Product Costing with a Sales Mix

Uses and Limitations of Joint Cost Information

Summary

10 Static and Flexible Budgets

Going with the Budgeting Flow

Budgeting

Master Budgets

Developing a Cash Budget

Flexible Budgets

Budgets as Performance Benchmarks

Budgets, Incentives, and Rewards

Beyond Traditional Budgeting

Summary

11 Standard Costs and Variance Analysis

Medication Shortages: Labour Time Demands

Variance Analysis and the Strategic Management Process

Standard Costs

Direct Cost Variances

Analyzing Direct Cost Variance Information

Overhead Variances

Analyzing Overhead Variance Information

Cost Variance Adjustments

Summary

12 More Variances: Revenue, Contribution Margin, and Advanced Production Variances

Smartphone Market Share

Revenue and Contribution Margin Variances

Sales Volume Variances

Market-Related Volume Variances

Production Quantity Variances

Appendix 12A Productivity

Summary

13 Strategic Investment Decisions

SolarShare: Harnessing the Power of Financial Analysis

Strategic Investment Decisions

Discounted Cash Flow Methods

Uncertainties and Sensitivity Analysis

Non-discounted Cash Flow Methods

Other Considerations for Strategic Investment Decisions

Appendix 13A Income Taxes and the Net Present Value Method

Other Related Issues in an NPV Analysis

Appendix 13B Present and Future Value Tables

Summary

14 Pricing Decisions

Video Game Consoles: The Big 3 Battle It Out for Top Spot

Pricing Methods

Price Elasticity

Additional Pricing Considerations

Transfer Price Policies

Additional Transfer Price Considerations

Summary

15 Strategic Management of Costs

Value Chain Success at the Little Potato Company

Strategic Cost Analysis

Continuous Cost Improvement

Kaizen Costing

Life Cycle Costing

Lean Accounting

Summary

16 Inventory Management

Maximizing Inventory at Minimum Cost

Inventory Costs

Ordering and Carrying Costs

Economic Order Quantity

Re-Order Point, Lead Time, and Safety Stock

Quantity Discounts

Summary

17 Measuring and Assigning Costs for Income Statements

Inventory Management: Scarcity or Abundance?

Absorption Costing and Variable Costing

Absorption Costing Using Normal Costing

Throughput Costing

Summary

18 Performance Evaluation and Compensation

Fast Tracking Employee Performance

Decision-Making Authority and Responsibility

Responsibility Accounting

Investment Centre Performance Evaluation

Motivating Performance with Compensation

Summary

19 Strategic Performance Measurement

The Balanced Scorecard: The Lifeblood of Decision-Making

Strategic Management and Decision Making

Measuring Organizational Performance

Balanced Scorecard

Implementing the Balanced Scorecard

 

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