Cost Management: Accounting and Control

Cost Management: Accounting and Control
Average customer rating:

TO BUY OR NOT TO BUY; THAT'S A QUESTION!

Filled With Useless Information

FOR THE PRICE, THIS BOOK SHOULD BE BETTER

Want to Cheat Someone

Too much info.

Cost Management: Accounting and Control
Don R. Hansen , and Maryanne M. Mowen
Manufacturer: South-Western College Pub
ProductGroup: Book
Binding: Hardcover

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Intermediate Accounting

Study Guide for Hansen/Mowen's Cost Management: Accounting and Control, 5th

Intermediate Accounting

Intermediate Accounting 10th Edition(with Business and Company Resource Center)

Accounting Information Systems

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Study Guide for Hansen/Mowen's Cost Management: Accounting and Control, 5th

ASIN: 0324233108

Book Description

COST MANAGEMENT emphasizes that changing conditions often require a change in systems. Emphasizing this point stresses the dynamic and exciting nature of the field. By taking a systems approach -- one that first covers functional-based cost and control and then activity-based cost systems -- students understand how to understand and manage any cost management system.

Customer Reviews:

TO BUY OR NOT TO BUY; THAT'S A QUESTION!.......2007-03-16

The text is pretty comprehensive and covers the subject of Cost Management broadly and deeply. Since there are not too many textbooks on the topic; therefore, authors are admired for their devoted efforts they put into. The publisher should understand the matter inside the book and manage the cost of this book and make it afforable to the students.

For students, it's tough beginning before learning "Cost Management", the book incurs too much cost and puzzles students how they should manage their own budgets. Anyway, it might be the strategy of the authors or the publishing company to begin the lessons from the sale. As one scholar said, "Experience is a tough teacher, which gives exams first and teaches lessons thereafter."

As far as the contents are concerned, the book is highly recommended, but at a lower price. Thank you for your time for reading this review.

Filled With Useless Information.......2006-09-01

If you want to wade through useless babble to get to the actual cost accounting, go at it. However, you'll probably buy this book anyway if you have an unscrupulous accounting professor who received a gift basket from the publisher.

In other words, it's useless to the student. However, I'm sure its very profitable for the publisher and the authors.

FOR THE PRICE, THIS BOOK SHOULD BE BETTER.......2006-03-23

This book should have been written better when you consider its expensive price tag. However, the review excercise at the end of the chapter is extremely helpful. I would recommend the book if serious improvements are made. Overall, it is not that bad.

Want to Cheat Someone.......2005-09-30

I made a mistake and chose the book they listed in the Amazon.com. When the book arrived, I saw that what they have listed was only a Study Guide from a really old edition. I must say that they have said this on the listing. That was my mistake. But I wrote them back that I do not want this book, and want to return it. But they do not accept the return and refund of money. They do know that it is hard to find someone again doing this mistake. I looked at the book. This is $ 10 worth, not more. And impossible to sell again. I am a student. I do not have so much money to afford the required book. So I got really frustrated and faced losts of problems in the following weeks and spent a lot of time and energy to get the right book. It is a really sad story and an experience for me. I hope the seller is right know enjoying my $ 139.71.

Too much info........2005-01-04

Too bad we're stuck with whatever book the professor assigns. Often reads like the authors needed to write 1,000 pages, regardless of the complexity of the material. I caught them several times referring to the same item with different terms. In-class instruction on methods will save you a ton of time.

Time-Driven Activity-Based Costing: A Simpler and More Powerful Path to Higher Profits

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Great Service
Time-Driven Activity-Based Costing
TDABC - a very interesting book

Time-Driven Activity-Based Costing: A Simpler and More Powerful Path to Higher Profits
Robert S. Kaplan , and Steven R. Anderson
Manufacturer: Harvard Business School Press
ProductGroup: Book
Binding: Hardcover

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: Business Process Management and the Balanced Scorecard : Focusing Processes on Strategic Drivers
Cost & Effect: Using Integrated Cost Systems to Drive Profitability and Performance

ASIN: 1422101711

Book Description

In the classroom, activity-based costing (ABC) looks like a great way to manage a company's limited resources. But executives who have tried to implement ABC in their organizations on any significant scale have often abandoned the attempt in the face of rising costs and employee irritation. Time-Driven Activity-Based Costing is the solution to the problems associated with large-scale ABC implementation. In this book, Kaplan and Anderson offer a revised model where managers can estimate the resource demands imposed by each transaction, product, or customer, rather than rely on time-consuming and costly employee surveys.

In their new model, Kaplan and Anderson focus on the two parameters managers need to estimate: how much it costs per time unit to supply resources to the business activities (the total overhead expenditure of a department divided by the total number of minutes of employee time available) and how much time it takes to carry out one unit of each kind of activity (as estimated or observed by the manager). Rather than endlessly updating and maintaining ABC data, this book with allow managers to spend their time addressing the deficiencies the model reveals: inefficient processes, unprofitable products and customers, and excess capacity.

Kaplan and Anderson lead the discussion of Time-Driven ABC in the first seven chapters, followed by individual cases studies of actual implementations by Acorn consultants in diverse settings.

Customer Reviews:

Great Service.......2007-05-29

Product purchase acknowldgement was near immediate, billing timely, receipt of product within three days and the exact product ordered received. Excellent.

Time-Driven Activity-Based Costing.......2007-05-13

I finished reading this book by Bob Kaplan - TIME-DRIVEN ACTIVITY-BASED COSTING last week.

Its a great book for folks familiar with the basic concepts and applications of Activity-based Costing/ABC. In a way Kaplan makes an apology to readers of his earlier books and ardent fans of ABC, for making their lives difficult with the practical implementation approaches for ABC, and offers to make up for it by proposing a change to the new approach called Time-driven Activity-based Costing or TDABC. Personally I would have preferred the term "Capacity-driven Activity-based Costing".

Ofcourse one cannot help but be sympathetic to Bob Kaplan. Having interacted with him in the past, I had an opportunity to see at close range the genius of this man and the range of his knowledge. The book is certainly a big leap in our knowledge-base and tools for managing for managing companies better.

Kaplan aso originated another methodology "THE BALANCED SCORECARD" (BSC), several books on the subject, and co-founded another firm to offer servies around it. He is however, no longer associated with the firm in any management capacity, and the firm is financially troubled.

I recommend Kaplan's BSC books wholeheartedly, but if you are looking to implement at your organizations, I would recommend inviting select independent consultants who have more experienced at this, than the one's available at this firm.

Professionals with a serious interest in TDABC could also do well to reach out directly to Bob Kaplan and his new firm (The Acorn Group), and his former students for consulting advise.

TDABC - a very interesting book.......2007-05-12

This book has given me a great insight in an easier way to allocate resources down to costumers and products using Time-driven cost driver rates.

However, I am a bit sceptical about the Capacity Cost rate, which seems to be the key element to this models success... especially the way the authors describes the way to calculate this rate.. But with some methodical procedure behing when implementing the model, it is possible to get good results.... that's my experience

All in all, it is a great book about the fundamentals when wanting to use TDABC in your business.

Average customer rating:

A Must Read for CEOs Tired of Same Old Sales Excuses
It's a PE Book
Merging Six Sigma with Sales & Marketing
Sales & Marketing the Six Sigma Way
A Great Explanation of the Sales Process

Sales and Marketing the Six Sigma Way

Manufacturer: Kaplan Business
ProductGroup: Book
Binding: Hardcover

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Marketing ROI : The Path to Campaign, Customer, and Corporate Profitability

ASIN: 1419521500
Release Date: 2006-08-01

Book Description

Quality management. Process mapping. Speed to production. In the past 50 years, a rigorous, measurement-based methodology called Six Sigma has brought production management to previously unimaginable levels of success and sophistication. Top corporations such as Motorola and GE have built their reputations, products, and revenues using this approach. Indeed, Six Sigma has found widespread application in every significant industry and business—except marketing and sales.

In Sales and Marketing the Six Sigma Way, sales and quality guru Michael Webb shows how to blend marketing and sales efforts with the cutting-edge methods of Six Sigma to boost their bottom lines. With Webb’s book as a guide, readers learn to engineer rapid routes to customer value, accurately predict future revenue, and ensure return on investment for their projects.

In Sales and Marketing the Six Sigma Way, you will:

* Find out why ""the usual fixes"" for sales problems don't work

* Meet executives who have used Six Sigma to imrpove marketing and sales results

* See the pitfalls that await the unwary when applying process improvement in sales

* Learn how to introduce Six Sigma to sales and marketing professionals

* Discover through examples and cases how to manage sales as a process

Webb walks readers through several Six Sigma sales and marketing projects from start to finish, highlighting the tools, decisions, and results that made them successful. He shows the practical methods managers use to translate process improvement principles to the human world of selling and marketing.

With his dual background in sales and marketing management and in quality improvement, Webb speaks clearly to readers in both disciplines. This makes Sales and Marketing the Six Sigma Way the indispensible guide for sales and marketing professionals who want to excel in today's business environment, and for quality improvement experts who want to help them.

Customer Reviews:

A Must Read for CEOs Tired of Same Old Sales Excuses.......2007-08-17

This book tackles the central marketing problem of our time ....too many suspects, and an ever dwindling number of qualified prospects. Mr. Webb untangles this problem and then shows you how to design a selling system to be an ever improving "machine". A fun read with lots of how-to and examples.

It's a PE Book.......2007-07-24

It's Good to me, I work for jnj of china. it helps and leads me do the project is well

Merging Six Sigma with Sales & Marketing.......2007-07-20

Michael Webb has done a fantastic job with merging the six sigma methodology with the sales & marketing disciplines. This book takes the six sigma practice, that has long been used in the manufacturing circles, and applies it to the sales function in a way that is both concise and understandable. Six sigma promises to change the future of sales just as it has manufacturing, and this book is the road map for that journey. I would not only highly recommend this book to anyone in the sales and/or marketing arena, but consider it a must read.

Sales & Marketing the Six Sigma Way.......2007-04-03

I found this book invaluable. As a brand marketing consultant I face a barrage of misguided engineers and production minded individual who deam marketing as puffery. This book provided me a greater insight in turning these folks into marketing partners. Engineers and marketing consultants have more in common than they know - Sales & Marketing the Six Signa Way identifies how these two can and should come closer together to seek and implement the voice of the customer in establishing and marketing superior customer value.

A Great Explanation of the Sales Process.......2007-03-22

This is the first book I've read that truly and fully explains how to analyze the selling (and marketing) process and improve it. Six Sigma is not easy to understand to those who have never studied it, but the Author explains it very clearly and thoroughly. I've read a lot of sales and marketing books and this is the first one I have come across that acknowledges that selling today is very different than it used to be. Many of the existing sales books are completely out of date and were written for a different era. This book is a fresh new look at the sales process overall and where the obstacles may be.

Schaum's Outline of Principles of Accounting I (Schaum's)

Average customer rating:

very clear and thorough
Finaly I got it.
Schaum's Outline of Principles of Accounting I (Shcaum's)
Want to Learn Accounting? Buy this Book!

Schaum's Outline of Principles of Accounting I (Schaum's)
Joel Lerner , and James A. Cashin
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Paperback

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Schaum's Guideline of Managerial Accounting

ASIN: 0070381496

Book Description

If you want top grades and thorough understanding of Accounting I, this powerful study tool is the best tutor you can have! It takes you step-by-step through the subject and gives you 520 accompanying related problems with fully worked solutions. You also get 5 complete practice exams to take on your own, working at your own speed. (Answers at the back show you how you're doing.) Famous for their clarity, wealth of illustrations and examples, and lack of dreary minutie, Schaum’s Outlines have sold more than 30 million copies worldwide—and this guide will show you why!

Download Description

If you want top grades and thorough understanding of Accounting I, this powerful study tool is the best tutor you can have!

Customer Reviews:

very clear and thorough.......2007-01-11

It was very clear and thorough. It is pretty good for the CLEP, but you will need Principles of Accounting 1 too.

Finaly I got it........2006-11-30

Wow! It's realy simple and awesome book for who is looking for accounting knowledge.

Schaum's Outline of Principles of Accounting I (Shcaum's).......2006-03-10

Presented in manner to make it easy to understand and practice. I became an "accountant" within the period I took to go through the entire book-one month! Now I do my own accounts using the principles I leant and a Peachtree accounting software.
I will be purchasing Schaum's other books.

Want to Learn Accounting? Buy this Book!.......2005-05-05

I admit it. I used to be intimidated with accounting. Its concepts were somewhat of a mystery. Debits and credits, journals and ledgers, balance sheets and income statements, adjusting entries, etc. You get the picture.

A year and a half ago, I bought this book. I now enjoy accounting because the authors were so successful and effective in teaching its precepts. Lerner and Cashin have turned muddy water into a clear pool. Why weren't my college professors so effective?

I read this book from cover to cover. I'm hoping that others will benefit as much as I have from this book. Chapters cover: accounting concepts, financial statements, transactional classification, adjusting and closing procedures, business and merchandising worksheets, methods of valuing inventory, receivables, cash and its control, payroll, and also property plant and equipment

The magic of this book revolves around lucid explanations and practical examples. The authors teach the principles, provide numerous examples and then afford the reader the opportunity to apply the lessons material. The book takes you step by step and builds upon the fundamentals.

If you take the time to do the chapter end problems, you should benefit greatly from this introduction to accounting.

Truly, I think the book is a wonderful resource and guide.

The Complete Guide to Activity-Based Costing

Average customer rating:

Excellent Cost Management Tool
Using ABC to think about your business

The Complete Guide to Activity-Based Costing
Michael C. O'Guin
Manufacturer: CCH, Inc.
ProductGroup: Book
Binding: Hardcover

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An ABC Manager's Primer: Straight Talk on Activity-Based Costing

ASIN: 0138533180

Product Description

The most effective new cost management tool in years, activity-based costing enables you to eliminate hidden costs company wide and achieve remarkable new efficiency and profitability. This guide spells out how to use and profit from this powerful cost management techniques. Well-known ABC consultant Michael OGuin shows how to cut thousands of dollars in overhead and improve your product lines. Production processes. Pricing. Sourcing. Marketing. R&D. Capital Investment decisions. Dozens of case studies show these techniques in action. Youll find out how to set more profitable pricing policies that reflect all of your costs; the one factor that causes the majority of defect costs and how to eliminate it in your own operation; what discounts are really appropriate for large orders; six critical ways to slash the costs of serving your customers (and why most companies overlook them); the two hidden costs that managers in process manufacturing usually overlook; how to assign scrap costs down to products, parts, and vendors; five simple ways to measure customer satisfaction and pinpoint areas for improvement; and much more!

Customer Reviews:

Excellent Cost Management Tool.......2006-10-03

The author did a good job of coming up with a user friendly book on Activity-Based Costing (ABC). ABC is critical in alerting managers of the major and subsidiary drivers of costs. Many companies, large and small, have benefited from employing ABC techniques.

The book is readable by both the expert and novice in accounting. The novice will benefit from the detailed introduction into accounting systems and the concept of ABC. The author then methodically explains how costs can be allocated to products and services.

Those managers in the manufacturing industry will benefit the most as the book has a manufacturing bias, although the author did his best to also make the book relevant to those in the service industry. The various case studies and practical examples reinforce the message and help the reader in consolidating the understanding of ABC.

This is a recommended book that helps the reader to learn and comprehend the important technique of ABC that should enable companies to eliminate hidden costs and be more efficient and competitive.

Using ABC to think about your business.......2000-04-02

O'Guin takes a manufacturing perspective in his lucid explanation of activity based-costing, a management planning tool aimed at discovering what your true costs are by essentially assigning overhead costs to products and customers. The idea is that the more you know about your costs, the better able to compete. The book is ideal for consultants who need a quick read on the process, or managers thinking of implementing the system and require some overall familairity.

He does not totally ignore service businesses either. Very ably, he shows the theoretical underpinnings behind ABC, and points to many examples of "big league" companies, like GE and Hewlett-Packard that have used this method in order to understand the primary and secondary cost drivers.

The first third of the book mixes a history lesson on traditional accounting system with an introduction to ABC. The intro seems a little bit long, and I found myself wishing that he would get to the design and implementation of the system (which is the reason I was reading the book-part of a redesign consulting contract).

The author rarely speaks down to his audience. In fact, unlike many systems type books I have read in the last few years, O'Guin is able to continually build on what is presented previously in the book without endless looping. He assumes a level of intelligence and interest which you will find yourself thanking him for when you are trying to figure out how to allocate the cost of the bolt to the large customer shipping cost for the new product line 3rd shift, or some such permutation.

The second half of the book gets more into the nuts and bolts, so to speak, and describes how ABC might work in a typical firm. I imagine many of the readers will be of the small manufacturing bent, and this book really answers most of the questions you would have. The next step would probably be to talk to someone that has actually implemented the system.

The final third of the book deals with the strategic outlook for American industry and how ABC can be used as a management tool to increase competitiveness. The author never gets too preachy and mixes a good deal of his opinions with common sense and practical examples. Finally, the Appendix consolidates much of what he has been saying into charts and summations. In addition, the book provides the sources much reference material - something for every taste.

Book Description

With a thorough approach, this book walks the reader through each variable and how to apply them to the print estimate. Estimating paper, ink, electronic prepress, outsourcing, sheetfed, web, computer management systems, marketing, selling and pricing for profitability as well as information resources are vital topics to today s printing estimator and are all covered in great detail. Examples are used throughout to illustrate the methods discussed.

Driving Value Using Activity-Based Budgeting

Average customer rating:

Driving Value Using Activity-Based Budgeting
James A. Brimson , and John Antos
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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Activity-Based Cost Management Making It Work: A Manager's Guide to Implementing and Sustaining an Effective ABC System

ASIN: 0471086312

Book Description

A practical guide to the ABCs of ABB

This unique resource takes an in-depth look at creating value through activity-based budgeting (ABB). As most organizations are dissatisfied with some aspects of their performance, ABB has become an increasingly popular process for which many companies are abandoning traditional methods that no longer meet their demands. Emphasizing the importance of budgeting by activities and features rather than by cost elements, Driving Value Using Activity-Based Budgeting offers a complete overview of feature costing, a technique used in conjunction with ABB, as well as the underlying principles of ABB, including linking strategy to activities, forecasting revenue, capacity management, and gap analysis. With numerous examples and case studies, it shows how to use state-of-the-art tools for achieving strategic goals, such as customer survey, core competency analysis, benchmarking, house of activities, reverse engineering to cascade strategy so everyone can act to create value for the organization.

In today's highly pressurized business environment, creating value is the number one priority for organizations. The key to achieving this is having a budget and accounting system that supports long-term goals. More and more organizations are now turning to activity-based budgeting (ABB), an innovative approach that can help organizations become more competitive by linking the budgeting process to organization strategy. Explaining the importance of budgeting by activities rather than by cost elements, this groundbreaking resource—the first book of its kind—is a practical how-to that covers the essentials of Driving Value Using Activity-Based Budgeting.

Beginning with an overview of the fundamentals behind driving value, James Brimson and John Antos examine what exactly value is, how it is created, and why traditional planning and budgeting often lead to the destruction of value. Following a clear outline of the problems posed by the traditional budgeting process, the authors go on to explain that many companies have contemplated abandoning it altogether. In doing so, however, they must set performance targets and identify actions to achieve the targets: "Once those actions are implemented, there is a need to monitor the execution. Therefore, to drive value creation, organizations are implementing activity-based budgeting (ABB)." This comprehensive guide offers in-depth coverage of ABB and feature costing, a technique used in conjunction with ABB. ABB creates value by translating the business strategy into the activities necessary to implement that strategy. Feature costing creates value by understanding sources of product and customer variation and relating this variation to expected workload. Along with the benefits of using ABB and feature costing, Driving Value Using Activity-Based Budgeting addresses such essential topics as:

Translating strategy into a process and activity framework—performing activities and cross-functional processes that support strategy and assessing current performance against strategic goals
Forecasting revenue, volume, and workload—customer demographics and needs, the competition exploding a bill of activities, determining workload for special projects
Capacity management—capacity defined, managing capacity, capacity management methodology, handling excess capacity
Getting started—creating a business process budget, budget review panels, rank and select activities, cost budgeted activities

Book Description

This hands-on reference provides a substantial collection of accurate food measurements for more than 900 raw food ingredients. Complete with helpful information relating to food preparation, purchasing decisions, and controlling costs, the book is organized by food type and measurements reflect the way specific foods are typically measured in recipes.

Pricing for Profitability: Activity-Based Pricing for Competitive Advantage

Average customer rating:

Excellent Book on Activity-Based Pricing
Activity Based Costing Success Story
A Must Read for Manufacturers
Valuable insights into profitable pricing
Excellent!

Pricing for Profitability: Activity-Based Pricing for Competitive Advantage
John L. Daly
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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ASIN: 0471415359

Book Description

Three things can happen when establishing a product price. A price set too high is a lost sale that could have been profitable at a lower price. A price set too low is rewarded with unprofitable work. Only when a price is set appropriately does a company make both a sale and a profit. Just as activity-based costing and activity-based management revolutionized the cost accounting world, activity-based pricing will bring a disciplined approach to developing pricing. Activity-based pricing examines the relationships between price, cost and sales volume and how this relationship effects profitability. Pricing for Profitability joins the disciplines of marketing, economics, business strategy, engineering and cost accounting to achieve maximum profitability.

Customer Reviews:

Excellent Book on Activity-Based Pricing.......2006-10-15

John Daly came up with a well written book that is interesting and informative on activity-based pricing. This book complements my knowledge and expertise on activity-based costing and I now know how to develop my prices based on a disciplined methodology for fixing the price.

John Daly avoids the mistake of focusing of maximizing revenue, advocated by some marketing professionals but rather puts the focus where it belongs namely maximizing profitability and ultimately shareholder value.

Any manager with responsibility for pricing will benefit immensely from reading this book.

Activity Based Costing Success Story.......2003-03-26

We have used the concepts outlined in John Daly's book to develop an activity based costing model. In fact, it has proven to be so useful that we are in its third revision. It is has been a critical tool for us to remain profitable during these difficult economic times. I do not know how we got along with out it!

A Must Read for Manufacturers.......2003-01-30

Pricing for Profitability has allowed our company to intelligently quote new projects and answer a critical question during price negotiations - "Should I walk?". We have also found the activity based pricing concepts useful for evaluating the countless cost down requests we get from our customer and understanding what we can and cannot do. I would recommend this book to anyone in a highly competitive, tight margin business.

Valuable insights into profitable pricing.......2003-01-16

John Daly has written an excellent book with important insights into the desirability and mechanics of using Activity Based Pricing to achieve a profit-driven pricing model.

Why is this important?

If you really understand and properly allocate your costs and use that understanding to develop an Activity Based Pricing model for your products and/or services then you are pretty well assured of profitability, particularly as you increase unit volume. Of course, this assumes you can sell at a price higher than your fully loaded, properly allocated costs.

As Mr. Daly clearly describes, traditional cost allocation methods (not to mention back of a napkin allocations) result in problematical cost distortions and lead to potentially serious pricing errors.

Anyone with profit and loss responsibility, or who would like to get there, would be well served to buy this book, read it and take it to heart. It is well written, coherent and was a pleasure to read. Daly has struck an excellent balance in that the book is not so filled with technical accounting/finance detail it is inaccessible to a non-accountant and yet it has sufficient substance to be of interest to accounting and finance specialists.

As investment bankers we receive financing requests from many companies seeking capital that are not profitable or not as profitable as they could be. Activity Based Pricing is one of the disciplines we are introducing to our clients and prospective clients to help them achieve profitability or become more profitable in order to better position them to compete for capital.

Excellent!.......2002-10-25

Mr Daly's writing style is smooth and casual, and the book is loaded with common sense. His discussion of overhead allocation problems certainly makes the point that GAAP accounting practices lead to serious errors in cost accounting.

Book Description

Controller's Guide to Costing is a comprehensive source for all issues related to cost accounting, detailing aspects of creating costing systems, how cost accounting systems work, interpreting the results, and how the resulting information can be used, including:

Provides an overview of various costing methodologies.
Written in easy to understand language—from one controller to another.
Includes information on application, implementation, reporting, problems that can arise, and example case studies.

Books:

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