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• Contents at a Glance
• Table of Contents
• Introduction
• About This Book
• What You’re Not to Read
• Foolish Assumptions
• How This Book Is Organised
• Icons Used in This Book
• Where to Go from Here
• Part I: Getting Started with Management and Cost Accounting
• Chapter 1: Planning and Control: The Role of Management Accounting
• Understanding What Management Accountants Do, and Why
• Concentrating on Costs
• Accounting for the Future: Planning and Budgeting
• Exercising Control
• Getting Certified
• Chapter 2: Using Management Accounting in Your Business
• Classifying Companies by Their Output
• Measuring Profits
• Meeting the Three Es of Performance
• Putting Profitability and Productivity Together: Return on Capital Employed
• Part II: Understanding and Managing Costs
• Chapter 3: Classifying Direct and Indirect Costs
• Distinguishing Direct from Indirect Manufacturing Costs
• Valuing Inventory of Materials and Finished Goods
• Examining the Treatment of Labour Costs within the Accounting System
• Two Other Ways to Classify Costs
• Chapter 4: Allocating, Apportioning and Absorbing Overhead
• Introducing Budgeting Overhead Costs
• Charging Production Overheads into Products: Traditional Approach
• Taking Advantage of Activity-Based Costing for Overhead Allocation
• Working Through an Example: Rusbridge Limited
• Chapter 5: Costing Products Flowing Through a Business
• Tracking the Flow of Products
• Following the Phases of Production and Sale
• Computing Units Sold
• Chapter 6: Job Costing: Pricing Individual Orders
• Keeping Records in a Job Costing System
• Understanding the Accounting for Job Costing
• Chapter 7: Process Costing: Tracking What’s Produced and How Much it Costs
• Comparing Process Costing and Job Costing
• Maintaining Process-Costing Books
• Demonstrating Process Costing in Action
• Chapter 8: Observing How Variable and Fixed Costs Behave
• Investigating Cost Behaviour
• Separating Semi-variable Costs into Variable and Fixed Components
• Sticking to the Relevant Range
• Part III: Planning and Budgeting
• Chapter 9: Using Contribution Analysis to Make Better Decisions
• Calculating the Contribution
• Meeting Net Profit Targets with Cost-Volume-Profit Analysis
• Bringing up Break-Even Analysis
• Modifying to Achieve a Target Profit
• Feeling Secure: Margin of Safety
• Juggling Variable and Fixed Costs: Operational Gearing
• Chapter 10: Decision-Making within the Reality of Limited Capacity
• Understanding the Reality of Limited Resources
• Focusing on Relevant Costs
• Ignoring Certain Costs Safely: Irrelevant Costs
• Chapter 11: Deciding on Long-Term Purchases: Capital Budgeting
• Identifying Incremental and Opportunity Costs
• Getting Your Money Back: The Payback Technique
• Understanding Time Value of Money and Net Present Value (NPV)
• Putting Payback and NPV into Practice
• Investigating Internal Rate of Return (IRR)
• Looking beyond the Numbers: Qualitative Factors
• Chapter 12: Naming Your Price: Approaches to Decision-Making
• Differentiating Products to Decide on Prices
• Taking All Costs into Account: Absorption Costing
• Pricing at Cost-Plus
• Short-Term Pricing Based on Relevant Costs
• Hitting Your Bull’s-Eye: Target Costing
• Chapter 13: Doing Deals between Company Divisions: Transfer Prices
• Pinpointing the Importance of Transfer Pricing
• Negotiating a Transfer Price
• Transferring Goods between Divisions at Cost
• Positioning Transfer Price at Market Value
• Chapter 14: Planning Budgets for the Future
• Preparing a Manufacturer’s Master Budget
• Applying Master Budgeting to Non-Manufacturers
• Moving Beyond Budgeting
• Part IV: Using Management Accounting for Evaluation and Control
• Chapter 15: Using Flexible Budgets to Exert Control
• Appreciating the Need to Control Your Business
• Dealing with Budget Variances
• Implementing a Flexible Budget
• Chapter 16: Variance Analysis: Flexing Standard Costs
• Setting Up Standard Costs
• Identifying Factors that Give Rise to Variances
• Teasing Out Variances
• Chapter 17: Establishing Accountability with Responsibility Accounting
• Linking Strategy with an Organisation’s Structure
• Identifying Different Kinds of Responsibility Centres
• Chapter 18: The Balanced Scorecard: Reviewing Your Business’s Report Card
• Introducing the Balanced Scorecard: Key to Strategy
• Demonstrating the Balanced Scorecard in Action
• Testing Times: Exam Advice
• Chapter 19: Squeezing Out of a Tight Spot with the Theory of Constraints
• Understanding the Nature of Constraints
• Managing Processes with the Theory of Constraints
• Part V: The Part of Tens
• Chapter 20: Ten Key Management Accounting Formulas
• The Accounting Equation: Working with Assets and Liabilities
• Profit: Focusing on the Bottom Line
• Cost of Goods Sold: Handling Inventory
• Contribution: Measuring the Impact of Decisions on Profit
• Cost-Volume-Profit Analysis: Considering the Effects of Changing Volume
• Break-Even Analysis: Ensuring You Don’t Make a Loss
• Calculating the Effect of Direct Materials Price Variance on Total Cost
• Determining the Effect of Direct Materials Usage Variance on Total Cost
• Future Value: Computing the Value of a Cash Investment
• Present Value: Deciding How Much to Invest
• Chapter 21: Ten Careers in Management Accounting
• Corporate Treasurer
• Chief Financial Officer
• Financial Controller
• Group Accountant
• Financial Analyst
• Cost Accountant
• Budget Analyst
• Internal Auditor
• Fixed-Assets Accountant
• Cash-Management Accountant
• Index