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| 자료유형 | 단행본 |
|---|---|
| 서명/저자사항 | Cost management : strategies for business decisions / Ronald W. Hilton, Michael W. Maher, Frank H. Selto |
| 개인저자 | Hilton, Ronald W. Maher, Michael/ Selto, Frank H. |
| 발행사항 | Boston : Irwin/McGraw-Hill, 2000 |
| 형태사항 | xlvi, 962 p. : ill. ; 28 cm |
| ISBN | 0072299029 |
| 서지주기 | Includes bibliographical references and index |
| 비통제주제어 | Managerial accounting |
| 분류기호 | 325.94 |
| 언어 | 영어 |
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CONTENTS
Prologue : Modern Cost Management
Practices ... xxxv
Why This Approach to Cost Management? ... xxxv
What Is New about Modern Management? ... xxxv
Corporate Express in a Nutshell ....
목차 전체
CONTENTS
Prologue : Modern Cost Management
Practices ... xxxv
Why This Approach to Cost Management? ... xxxv
What Is New about Modern Management? ... xxxv
Corporate Express in a Nutshell ... xxxi
Global Environment of Cost Management ... xxxi
Addressing Global Competition ... xxxi
Making Global Decisions ... xl
Choosing the Organization's Long-Term Strategy : Survival of the Fittest? ... xl
Defining the Organization's Scale and Scope of Operations ... xli
Planning and Organizing the Use of Resources into Efficient Operations ... xli
Implementing Plans and Organizational Change ... xlii
Measuring and Communicating Results ... xlii
Motivating and Evaluating Performance of Individuals and Teams ... xliv
Communicating Plans and Results to Constituents ... xlv
Evaluating Success of Decision-Making and Making Improvements ... xlv
Part One Setting the Stage : The Importance of Analyzing and Managing Costs ... 1
1 The Role of Cost Management : Finding Opportunity and Leading Change ... 2
Cost-Management Challenges at Pursuit.Com ... 4
The Organizational Role of Cost Management ... 5
Who Are Cost Managers? ... 5
Pursuit.Com's Team Focus ... 6
Cost Management and the Cost Manager ... 8
Choosing a Long-Term Strategy at Pursuit.Com ... 9
Benchmarking ; A Cost-Management Technique for Strategic Choice and Improvement ... 10
Choosing Pursuit.Com's Scale and Scope of Operations ... 12
Configuring Pursuit.Com's Value Chain ... 14
Analyzing Alternative Value-Chain Configurations ... 14
Planning and Organizing the Efficient Use of Resources at Pursuit.Com ... 16
Forming a Cost-Management Team ... 17
Analysis of Pursuit.Com's Accounts Receivable Process ... 17
Employees Who Do the Work Often Know Best ... 21
The Team's Recommendation ... 21
Implementing Plans and Organizational Change at Pursuit.Com ... 22
Chapter Summary ... 23
Key Terms ... 23
Meeting the Cost Management Challenge ... 23
Solutions to You're the Decision Maker ... 24
Appendix to Chapter 1 : Institute of Management Accountants : Standards of Ethical Conduct for Management Accountants ... 27
Review Questions ... 28
Critical Analysis ... 28
Exercises ... 29
Problems ... 31
Cases ... 34
2 Using Lead and Lag Measures to Communicate, Motivate, and Evaluate ... 38
MST : Ahead of the Competition ... 40
Lead and Lag Indicators : Signals of Performance ... 40
Measures of Organizational Learning and Growth ... 42
Employee Education and Training ... 43
Innovativeness ... 43
Opportunities for Improvement ... 43
New Product Development Time ... 43
Measuring Results : Process Efficiency ... 44
Measuring Quality ... 45
Measuring Productivity ... 46
Measuring Cycle Time ... 47
Measuring Throughput Efficiency ... 48
Preventing Process Mistakes ... 49
Measuring Customer Satisfaction and Loyalty ... 50
Measuring Customer Satisfaction ... 50
Measuring Customer Loyalty ... 51
Social and Cultural Differences as Factors in Customer Satisfaction ... 51
Using Lead Indicators for Product and Service Design ... 52
Target Costing for Product Design ... 52
Communicating Results to Employees ... 54
The Balanced Scorecard ... 55
Quantifying the Causal Relationships ... 57
Chapter Summary ... 60
Key Terms ... 61
Meeting the Cost Management Challenge ... 61
Solutions to You're the Decision Maker ... 61
Appendix to Chapter 2 : Setting up Computer Spreadsheets ... 65
Review Questions ... 66
Critical Analysis ... 67
Exercises ... 67
Problems ... 69
Cases ... 73
3 Managing Costs of Constrained Resources ... 76
Introduction ... 78
Goals and Limits of Productive Processes ... 79
The Aerial View／Overview of the Problem ... 79
Process Capacity ... 80
The Theory of Constraints : The Basics ... 81
What Is a Bottleneck? ... 81
Measures of Capacity ... 82
Managing Constraints ... 87
Tackling the Bottlenecks at CMD ... 92
Chapter Summary ... 93
Key Terms ... 93
Meeting the Cost Management Challenges ... 93
Solutions to You're the Decision Maker ... 94
Review Questions ... 95
Critical Analysis ... 95
Exercises ... 96
Problems ... 98
Cases ... 101
Part Two Cost Measurement Systems ... 105
4 Measuring Costs of Operations ... 106
Introduction ... 108
What Are the Resources of an Organization? ... 108
Types of Resources ... 108
How Resources Are Used ... 109
Traceability of Resources ... 110
Three Dimensions of Resources ... 111
How Do Organizations Measure Costs of Resources? ... 112
Design Issues ... 113
What Do We Really Mean by "Cost?" ... 114
Total Cost ... 115
Average Cost ... 116
Tracing versus Allocating Costs ... 117
Unit-Level Costs and Variable Costs ... 118
Fixed Costs, Committed Costs, and Sunk Costs ... 110
Alternative Costing Methods ... 121
Throughput Costing ... 121
Variable Costing ... 123
Absorption Costing ... 123
Financial Management of Processes ... 125
Throughput Costing ... 126
Variable Costing ... 128
Absorption Costing ... 130
Comparing Operating Incomes ... 130
Chapter Summary ... 133
Key Terms ... 134
Meeting the Cost Management Challenges ... 134
Solutions to You're the Decision Maker ... 135
Review Questions ... 136
Critical Analysis ... 137
Exercises ... 137
Problems ... 138
Cases ... 144
5 The Design and Use of Activity-Based Costing Systems ... 146
PMI's Decision-Making and Cost-System Design ... 148
PMI's Competitive Situation ... 148
Cost-System Design ... 148
PMI's Resources and Activities ... 149
ABC : Application to Service and Manufacturing ... 150
Processes at PMI ... 150
Describing the Hierarchy of Resources ... 152
Activities : Their Impacts on Resource Use ... 153
Stage 1 : Measuring the Costs of Activities ... 155
Approaches to Identification and Classification of Activities ... 155
PMI's Activity List ... 157
Selecting Cost-Driver Bases ... 160
Measuring Resource Costs of Activities ... 163
Tracing Resource Costs to Activities ... 163
Is Something Wrong with This Picture? ... 168
Measuring Stage 2 Cost-Driver Rates ... 173
Condensing the Activity List ... 173
Tracing Costs of Activities to Products and Services ... 176
Unit-Level ABC Costs ... 177
Full-ABC Costs ... 177
Per-Unit Cost Difference ... 180
Product and Customer Profitability ... 181
Product Profitability ... 181
Customer Profitability ... 182
Estimating the Costs of New Products Using ABC ... 184
A Simple Case : Different Materials Only ... 184
A More Complex Case : The Novelty Toy Decision ... 184
Chapter Summary ... 187
Key Terms ... 188
Meeting the Cost Management Challenges ... 188
Solutions to You're the Decision Maker ... 188
Appendix to Chapter 5 : Additional Activity Data ... 190
Review Questions ... 194
Critical Analysis ... 194
Exercises ... 195
Problems ... 198
Cases ... 201
6 Cost Flows and Job Costing ... 206
How Do Organizations Choose among Costing Systems? ... 208
Evaluating Major Types of Costing Systems ... 209
The Basic Cost Flow Model ... 210
Cost Flows and Jobs ... 211
Managing and Using Cost Flow Information ... 212
Tracing and Assigning Costs to Jobs ... 213
Setting Predetermined Cost-Driver Rates ... 214
Using Predetermined Cost-Driver Rates ... 216
Job-Cost Accounting Systems ... 222
Basic Job-Cost Flows ... 222
Larsen Construction Job-Cost Accounts ... 223
Job-Cost Summary ... 225
Completion of Jobs ... 226
Sale of Completed Jobs : Finished Goods to Cost of Goods Sold ... 226
Overhead Adjustments ... 226
Managing Jobs and Projects ... 231
Project Management ... 231
Job Cost and Project Improprieties ... 233
Using Job Costs for Planning and Decision-Making ... 235
Chapter Summary ... 236
Key Terms ... 236
Meeting the Cost Management Challenges ... 236
Solutions to You're the Decision Maker ... 237
Appendix A : Job-Cost Journal Entries ... 239
Appendix B : Activity Costing for Job RR6 ... 241
Review Questions ... 244
Critical Analysis ... 244
Exercises ... 245
Problems ... 249
Cases ... 257
7 Process Costing ... 260
Monterey Bay Abalone's Profitability and Outlook ... 262
Process Costing System Design ... 262
Monterey Bay Abalone ... 265
Monterey Bay Abalone's Aquaculture Processes ... 265
Why It's Important to Have Reliable Process Cost Information ... 267
Process Costing : The Basics ... 268
Preview of the Examples ... 268
Example 1 : All Units Fully Completed(No Beginning or Ending WIP Inventory) ... 268
Basic Calculations ... 269
Decision-Making Implications ... 269
Example 2 : Some Units Not Fully Completed(Ending WIP Inventory) ... 270
Process-Costing Steps ... 270
Step 1 : Compute the Flow of Physical Units ... 270
Step 2 : Compute Equivalent Units ... 271
Step 3 : Summarize Costs to Account for ... 272
Step 4 : Compute Cost per Equivalent Unit ... 272
Step 5 : Assign Costs to Units Completed and in Process ... 273
Accounting Entries ... 274
Example 3 : Recognizing Costs of Spoilage(Mortality) ... 274
Computing Spoilage Costs ... 275
Reporting Spoilage Costs ... 278
Example 4 : Beginning and Ending WIP Plus Spoilage(Mortality) ... 278
Weighted-Average Costing versus FIFO ... 279
Using Weighted-Average Costing ... 279
Using FIFO Costing ... 282
Choosing between Weighted-Average and FIFO Process Costing : Comparing Costs and Benefits ... 286
Stop and Review : Comparison of Process Costing Steps for the Two Methods ... 287
Example 5 : Accounting for Costs Transferred to Another Process ... 288
Chapter Summary ... 291
Key Terms ... 291
Meeting the Cost Management Challenges ... 291
Solutions to You're the Decision Maker ... 292
Appendix A : Process-Costing Journal Entries ... 294
Appendix B : Operation Costing ... 295
Review Questions ... 297
Critical Analysis ... 297
Exercises ... 298
Problems ... 302
Cases ... 306
8 Joint Process Costing ... 310
Joint Product Processes ... 312
The Importance of Split-Off ... 312
One Input - More than One Input ... 313
The Decision Challenge : Which Joint Products to Produce? ... 313
Estimating Profit from Joint Products ... 314
Sell Intermediate Products or Process Them Further? ... 315
Maximizing the Profit of Joint Product Processes ... 317
Profit Analysis of Option 1 - Specialty and Standard Lumber Plus Wood Chips or Wood Pulp ... 317
Profit Analysis of Option 2 - Standard Lumber Plus Wood Chips or Wood Pulp ... 319
Most Profitable Products ... 319
Why Allocate Joint Costs? ... 320
How Joint Costs Can Be Good Business for Lawyers ... 322
Joint Allocation Methods ... 323
Distinguishing between Main and By-Products ... 323
Using the Net Realizable Value(NRV) Method ... 324
Using the Physical-Measures Method ... 325
Choosing among Joint-Cost Allocation Methods ... 329
By-Product Accounting : The Basics ... 329
What to Do with Scrap and Waste ... 331
Chapter Summary ... 332
Key Terms ... 332
Meeting the Cost Management Challenges ... 332
Solutions to You're the Decision Maker ... 333
Review Questions ... 334
Critical Analysis ... 334
Exercises ... 335
Problems ... 338
Cases ... 342
9 Managing and Allocating Support-Service Costs ... 346
The Service-Cost Challenge ... 348
Internal or Outsourced Support Services? ... 348
Managing Internal Support-Service Costs ... 349
Distinguishing between Direct and Support Services ... 350
Who Pays for Internal Support-Service Costs? ... 351
Support-Service Spending and Use ... 352
Why Allocate Service Costs? ... 353
Decision-Making and Cost Allocations ... 354
Other Uses of Cost Allocations ... 354
Cost-Management Implications for Internal Support Services ... 355
Cost Allocation from Support-Service Departments to Internal Customers ... 356
Step 1 : Identify the Costs to Be Allocated to Internal Customers - Single or Multiple Cost Pools? ... 356
Support-Service Spending ... 356
Support-Service Use ... 357
Measuring the Costs to Be Allocated ... 358
Step 2 : Choose the Appropriate Cost-Allocation Base(s) and Rate(s) - ABC or Traditional? ... 358
Activity-Based Costing Approach ... 358
Traditional Approach ... 359
Step 3 : Select and Use a Cost Allocation Method ... 361
Direct Method ... 361
Step Method ... 365
Ms. Fukami's Accurate but Politically Incorrect ABC Approach ... 371
Step 4 : Determine if the Cost Allocations Achieve the Desired Results ... 373
Cost Allocation Accuracy ... 373
Cost Allocation Effects ... 373
Cost Allocation Costs and Benefits ... 375
Chapter Summary ... 377
Key Terms ... 377
Meeting the Cost Management Challenge ... 377
Solutions to You're the Decision Maker ... 378
Appendix to Chapter 9 : The Reciprocal Method ... 380
Review Questions ... 387
Critical Analysis ... 387
Exercises ... 388
Problems ... 392
Cases ... 398
Part Three Process Management and Decision Making : Identifying Opportunities for Improvement ... 403
10 Methods and Implementation of Activity-Based Management ... 404
The Importance of Activity-Based Information to Precision Molding, Inc.'s Success ... 406
Activity-Based Costing : The Foundation of Process Improvement ... 407
Combining ABC and Target Costing as a Next Step of Analysis ... 407
The Importance of Customer Value ... 410
Eliminating Non-Value-Added Activities Is a Competitive Necessity ... 410
Identifying Value-Added Activities ... 412
PMI's Value-Added Analysis ... 413
What Tasks Does Activity-Based Management Require? ... 414
Detailed Activity Analysis ... 415
Identifying Opportunities for Process Improvement ... 416
Asking the Question "Why?" ... 417
Cost of Saved Resources ... 418
Implementation of Activity-Based Costing and Management ... 418
Should All Organizations Adopt ABC and ABM? ... 419
Can You Be Sure that ABC and ABM Will Be Successful? ... 419
Chapter Summary ... 422
Key Terms ... 422
Meeting the Cost Management Challenges ... 423
Solutions to You're the Decision Maker ... 423
Appendix to Chapter 10 : Activity Costs and Customer Values ... 424
Review Questions ... 426
Critical Analysis ... 426
Exercises ... 427
Problems ... 429
Cases ... 432
11 Managing Quality and Time to Create Value ... 436
Why Is Quality Important? ... 438
Quality at Any Cost? ... 438
Total Quality Management(TOM) ... 439
Return on Quality(ROQ) ... 439
Comparing the Views of Quality ... 440
Do TQM and ROQ Really Conflict? ... 440
Dimensions of Quality ... 441
Product and Service Attributes ... 441
Customer Service before and after the Sale ... 442
How Do Organizations Measure Quality? ... 442
Lead Indicators of Quality ... 442
Diagnostic Information ... 446
Customer Satisfaction ... 449
Trade-offs between Quality and Price ... 451
Costs of Quality ... 451
Controlling Quality ... 451
Failing to Control Quality ... 452
Measuring Costs of Quality ... 453
Reporting Costs of Quality ... 453
Quality Awards and Certificates ... 454
The Importance of Managing Time in a Competitive Environment ... 456
New Product and Service Development Time ... 456
Customer-Response Time and Cycle Time ... 456
Costs of Time ... 457
Managing Quality + Time ＝ JIT ... 458
JIT Manufacturing ... 458
JIT Success Factors ... 462
Chapter Summary ... 464
Key Terms ... 464
Meeting the Cost Management Challenges ... 465
Solutions to You're the Decision Maker ... 465
Appendix to Chapter 11 : Construction and Use of Control Charts ... 468
Review Questions ... 471
Critical Analysis ... 471
Exercises ... 472
Problems ... 477
Cases ... 480
12 Cost Estimation ... 484
What Is Cost Estimation? ... 486
Cost versus Expenditures ... 486
Costs Do Not Just Happen ... 487
Why Estimate Costs? ... 487
Cost Management ... 488
Decision Making ... 488
Planning and Standard Setting ... 488
A Simple World : One Cost Driver and Fixed／Variable Cost Behavior ... 489
A More Complex World : Multiple Cost Drivers and Complex Cost Behavior ... 490
Cost-Benefit Test ... 490
Step Costs ... 490
Semivariable Costs ... 491
Learning Curve ... 492
Cost Estimation Methods ... 496
Statistical Cost Estimation Using Regression Analysis ... 497
Is There a Logical Relationship between Costs and Their Drivers? ... 497
A Simple Model for Regression Analysis ... 498
Application to CC Catering ... 499
Using the Results ... 501
Using Multiple Regression Analysis to Estimate Cost Drivers for Activity-Based Management and Decision-Making ... 502
Application to CC Catering ... 504
A Cautionary Note about Using Regression ... 506
Account Analysis Method ... 506
How Do You Choose between Regression and Account Analysis? ... 508
Data Problems ... 508
Engineering Method ... 509
Unit Costs ... 509
Job Costs ... 510
New Product Costs ... 510
New Customer Costs ... 510
Facility Costs ... 510
Comparing the Estimates ... 510
Using the Results ... 511
Meals Sold ... 511
Jobs ... 512
New Products ... 512
New Customers ... 512
Facilities ... 512
The Outsourcing Decision ... 513
Costs and Benefits of Product Variety ... 513
Ethical Issues ... 514
Choosing an Estimation Method ... 515
Relevance of Data Inputs ... 515
Costs and Benefits of More Sophisticated and Detailed Methods ... 515
Choosing a Cost Equation ... 515
Chapter Summary ... 516
Key Terms ... 517
Meeting the Cost Management Challenge ... 517
Solutions to You're the Decision Maker ... 517
Appendix to Chapter 12 : Technical Notes on Regression ... 518
Review Questions ... 520
Critical Analysis ... 521
Exercises ... 522
Problems ... 529
Cases ... 536
13 Financial Modeling and Decision Making ... 538
What Is Financial Modeling? ... 540
The Cost-Volume-Profit Model ... 541
The Break-Even Point ... 541
Target Income ... 543
The CVP Model and Income Taxes ... 544
Manipulation and Analysis of Variables ... 545
Multiple Products and the Sales Mix ... 545
Limitations of the Basic CVP Model ... 548
CVP and ABC's Multiple Cost Drivers ... 548
Using ABC in Financial Modeling ... 549
The CVP Model and Short-Term Decision-Making ... 551
Characteristics of Information Used in Decision-Making ... 551
Relevant Information : An Expanded View ... 552
Make or Buy ... 555
Outsourcing at Galaxy Productions ... 555
How Outsourcing Can Eliminate Non-Value-Added Activities ... 556
The Concept of Opportunity Cost ... 558
Nonfinancial Considerations of Closure Decisions ... 559
The Optimal Use of Scarce Resources ... 559
Multiple Scarce Resources ... 560
Pricing Decisions ... 561
Influences on Prices ... 561
Short-Run versus Long-Run Pricing Decisions ... 562
Pricing of Special Orders ... 563
More on Cost-Based Pricing ... 564
Target Costing ... 565
Life-Cycle Costs : The Impact on Prices ... 567
Pricing Practices and the Law ... 567
Chapter Summary ... 568
Key Terms ... 568
Meeting the Cost Management Challenges ... 568
Solutions to You're the Decision Maker ... 569
Appendix to Chapter 13 : Linear Programming ... 569
Review Questions ... 573
Critical Analysis ... 574
Exercises ... 574
Problems ... 580
Cases ... 587
14 Making Long-Term Capital Investment Decisions ... 590
Strategic Issues ... 592
Identifying Good Investments ... 593
Replacements and Minor Improvements ... 593
Expansion ... 594
Strategic Moves ... 594
Due Diligence Investigations ... 595
Financial Analysis of Alternatives ... 597
Financial Records ... 597
Interviews with Operating and Marketing Personnel ... 597
Industry Data and Competitor Analysis ... 598
Nonfinancial Analysis of Alternatives ... 598
Justification of Investments in High-Tech Projects ... 600
Sensitivity Analysis ... 601
The Approval Process ... 602
Biases in the Process ... 602
Project Implementation and Control ... 603
Audits ... 604
Ethical Issues ... 604
Misstating Information ... 604
Misstating Results ... 605
Investing in Unethical Projects ... 605
Capital Budgeting in Nonprofit Organizations ... 605
Chapter Summary ... 606
Key Terms ... 606
Meeting the Cost Management Challenges ... 606
Solutions to You're the Decision Maker ... 607
Appendix to Chapter 14 : Discounted Cash Flow Analysis ... 607
Review Questions ... 613
Critical Analysis ... 613
Exercises ... 615
Problems ... 617
Cases ... 620
Part Four Financial and Operational Budgeting and Performance Analysis ... 621
15 Budgeting and Financi
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