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A less-expensive grayscale paperback version is available. Search for ISBN 9781680922936. Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. Each chapter opens with a relatable real-life scenario for today's college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes. Students are immersed in the "why" as well as the "how" aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization.
Research Paper (undergraduate) from the year 2011 in the subject Business economics - Accounting and Taxes, grade: 63%, University of Sunderland, course: Management Accounting and Control, language: English, abstract: This report is divided into two parts. The first part will explain how a standard costing system works and how a variance analysis is used properly. Furthermore, the statement “Standard Costing and Variance Analysis are appropriate to any type and size of organisation” will be critically evaluated. The second part determines factors, which must be considered in the decision-making process. In addition, four scenarios of decisions will be provided and analysed. One of the main objectives of an organisation is to minimise the cost of production and to control the costs as they are limited resources within a business (Gupta, 2010). Management accounting literature provides several tools in order to achieve these objectives. In this context, the system for collecting and reporting revenue and cost information by areas of responsibility is called responsibility accounting (Siegel & Shim, 2006). It is based on the assumption that managers should be held responsible for their performance. A well-designed responsibility accounting system integrates responsibility centers within the organisation. In addition, responsibility centers are units within the organization, which have control over costs and revenues (Siegel & Shim, 2006). There are different types of responsibility centers such as profit centers, investment centers, revenue centers and cost centers. In the following report, the focus is on cost centers. Here, a variance analysis based on standard costing is a performance measure of a cost center (Siegel & Shim, 2006). In addition, a standard costing system is a useful tool facilitating decision-making.
Cost accounting is an essential management tool that can uncover profitability improvements and provide support for key business decisions. Cost Accounting Fundamentals shows how to improve a business with constraint analysis, target costing, capital budgeting, price setting, and cost of quality analysis. The book also addresses the essential tasks of inventory valuation and job costing, and shows how to create a cost collection system for these activities. In short, this book contains the essential tools needed to foster more profitable decision-making by management.
A significant and innovative feature of this textbook is its detailed insights into the use of costing methodology for practical implications. It will serve to foster the reader’s analytical and critical thinking skills, and it highlights both traditional and the most current practices of costing methodology using real examples drawn from the service industry. Its methodological focus will allow the reader to understand the introduction of relevant costs, their functions and their behavior towards uses and limitations of cost allocations.
The book sets a new standard for cost accounting textbooks. It aims at equipping students with a solid grounding in the concepts of cost accounting. With rich pedagogy and an easy-to-understand approach, it meets the specific requirements of the undergraduate students of different Indian universities. This book can also be useful for the students of CA, CS, MBA and ICWA level of Indian universities.
This proceedings book presents a comprehensive view of “smart” technologies and perspectives of their application in various areas of economic activity. The authors of the book combined the results of the cutting-edge research on the topic of “smart” technologies in the digital economy and Industry 4.0 and developed a unified scientific concept. The current experience has been considered, and the prospects for the application of “smart” technologies in society to promote social advance have been identified. “Smart” technologies in public administration and law, as well as the experience in development of e-government, have been examined. “Smart” technologies in business activity have been studied, and the transition from digital business to business 4.0 has been justified. The book contains the collection of the best works following the results of the 13th International Research-to-Practice Conference “Smart Technologies” for society, state and economy which was run by the Institute of Scientific Communications (ISC) and was held on July 2–3, 2020. The target audience of this book includes researchers investigating fundamental and applied problems of development of “smart” technologies, as well as concerned parties outside the academic community, in particular, representatives of the digital society, high-tech business entities and officials regulating the digital economy and Industry 4.0.