Beschreibung Management and Cost Accounting: Tools and Concepts in a Central European Context. 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.
Management and Cost Accounting: Tools and Concepts in a ~ Management and Cost Accounting: Tools and Concepts in a Central European Context / Taschner, Andreas, Charifzadeh, Michel / ISBN: 9783527508228 / Kostenloser Versand für alle Bücher mit Versand und Verkauf duch .
Standard costing — AccountingTools ~ Standard Costing Overview. Standard costing is the practice of substituting an expected cost for an actual cost in the accounting records.Subsequently, variances are recorded to show the difference between the expected and actual costs. This approach represents a simplified alternative to cost layering systems, such as the FIFO and LIFO methods, where large amounts of historical cost .
Cost Management for Projects - ProjectManager ~ A cost management plan must take into account the variables that impact the budget, whether materials or people. There are also fixed costs, such as economic cost of teams. All these must be calculated to know what your financial commitment to the project will be. Last but not least is the stakeholder, who has a vested interest in keeping costs down. Cost overrun is a problem many projects .
Cost plus pricing — AccountingTools ~ Cost plus pricing involves adding a markup to the cost of goods and services to arrive at a selling price. Under this approach, you add together the direct material cost, direct labor cost, and overhead costs for a product, and add to it a markup percentage in order to derive the price of the product. Cost plus pricing can also be used within a customer contract, where the customer reimburses .
THE THEORY OF COST-BENEFIT ANALYSIS ~ give a fairly unified account of the most salient results of the theoretical literature, show how the framework encompasses a number of approaches to the definition and formulation of cost-benefit problems, and then discuss implica-tions for a number of practical issues. Accordingly, the contents of the paper are as follows. In Section 1 we introduce the basic concepts of cost-benefit analysis .
Cost driver — AccountingTools ~ A cost driver triggers a change in the cost of an activity.The concept is most commonly used to assign overhead costs to the number of produced units. It can also be used in activity-based costing analysis to determine the causes of overhead, which can be used to minimize overhead costs. Examples of cost drivers are as follows:
Accounting principles / Books for free ~ Download our free accounting books to enhance your knowledge of topics such as managerial and financial accounting, the accounting cycle or budgeting. Our accountancy books are written by university professors. Have a look!
Corporate Finance & Accounting Introduction ~ Corporate Finance & Accounting Corporate finance and accounting deal with financing, capital structure, business activity reporting, and analysis to help maximize returns and shareholder value.
What is cost management? A definition from WhatIs ~ Cost management is a form of management accounting that allows a business to predict impending expenditures to help reduce the chance of going over budget. Many businesses employ cost management tactics for specific projects, as well as for the over-all business model.
Cost classification — AccountingTools ~ Cost classification involves the separation of a group of expenses into different categories. A classification system is used to bring to management's attention certain costs that are considered more crucial than others, or to engage in financial modeling.Here are several types of cost classifications:
42 Basic Accounting Terms & Acronyms All Business Owners ~ These are the terms that are most commonly used in reference with this reporting tool. 10. Cost of Goods Sold (COGS) Cost of Goods Sold are the expenses that directly relate to the creation of a product or service. Not included in this category are those costs that are needed to run the business. An example of COGS would be the cost of Materials, or the Direct Labor to provide a service. 11 .
Management accounting - Wikipedia ~ Management accounting is an applied discipline used in various industries. The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented. For example .
Dictionary — AccountingTools ~ Cost Accounting Fundamentals Cost Accounting Textbook Credit & Collection Guidebook Fixed Asset Accounting Fraud Examination GAAP Guidebook Governmental Accounting Health Care Accounting Hospitality Accounting IFRS Guidebook Lean Accounting Guidebook New Controller Guidebook Nonprofit Accounting Oil & Gas Accounting Payables Management Payroll Management Public Company Accounting Real Estate .
Cost allocation — AccountingTools ~ Cost allocation is the process of identifying, aggregating, and assigning costs to cost objects . A cost object is any activity or item for which you want to separately measure costs. Examples of cost objects are a product, a research project, a customer, a sales region, and a department. Cost
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Intercompany accounting — AccountingTools ~ Intercompany accounting is a set of procedures used by a parent company to eliminate transactions occurring between its subsidiaries . For example, if one subsidiary has sold goods to another subsidiary, this is not a valid sale transaction from the perspective of the parent compa
Theory of the Firm: Managerial Behavior, Agency Costs and ~ Agency Costs and Ownership Structure Michael C. Jensen Harvard Business School MJensen@hbs.edu And William H. Meckling University of Rochester Abstract This paper integrates elements from the theory of agency, the theory of property rights and the theory of finance to develop a theory of the ownership structure of the firm. We define the concept of agency costs, show its relationship to the .
Managerial Accounting Definition ~ Managerial accounting is the practice of analyzing and communicating financial data to managers, who use the information to make business decisions.
Production Planning and Control - Management Study Guide ~ Production planning is required for scheduling, dispatch, inspection, quality management, inventory management, supply management and equipment management. Production control ensures that production team can achieve required production target, optimum utilization of resources, quality management and cost savings.
Supply Chain Management (SCM) and Manufacturing / Oracle ~ Discover how you can prepare for rapid change with systems that improve resilience, increase agility, and help you plan for success beyond your next move. Oracle Supply Chain Management (SCM) Cloud connects your supply network with an integrated suite of cloud business applications designed and built to outpace change.
10 Basic Accounting Principles & Key Assumptions - [ 2019 ~ What are Accounting Principles? Definition: Accounting principles are the building blocks for GAAP.All of the concepts and standards in GAAP can be traced back to the underlying accounting principles. Some accounting principles come from long-used accounting practices where as others come from ruling making bodies like the FASB. It’s important to have a basic understanding of these main .
Bookkeeping - Wikipedia ~ The primary bookkeeping record in single-entry bookkeeping is the cash book, which is similar to a checking account register (in UK: cheque account, current account), except all entries are allocated among several categories of income and expense accounts.Separate account records are maintained for petty cash, accounts payable and receivable, and other relevant transactions such as inventory .
Cost Estimating Manual for projects ~ Cost estimating and cost management tools continue to be developed and will be added to the department’s estimating tool box as they become available. Please note that while cost estimating in support of design-bid-build projects is covered in depth in this manual, there are certain other conditions, such as design-build project delivery, accelerated projects, and accelerated estimates .
8 Examples of Cost Control - Simplicable ~ Cost control is the process of monitoring cost and performance. This doesn't necessarily involve cost reduction but is a process of confirming that spending conforms to plans, policies and regulations. Cost control also monitors the performance of strategies, programs, projects and operations to ensure that spending achieves business objectives.The following are illustrative examples of cost .
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