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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Test Bank for Cost Management Measuring Monitoring and Motivating Performance 3rd Edition by Leslie G. Eldenburg; Susan K. Wolcott; Liang-Hsuan Chen; Gail Cook – Ebook PDF Instand Download/DeliveryISBN: 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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