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Managerial accounting 9th ed., P.L.U.S. ed., International ed

Managerial accounting 9th ed., P.L.U.S. ed., International ed (Loan 5 times)

Material type
단행본
Personal Author
Garrison, Ray H. Noreen, Eric W.
Title Statement
Managerial accounting / Ray H. Garrison, Eric W. Noreen.
판사항
9th ed., P.L.U.S. ed., International ed.
Publication, Distribution, etc
Boston :   Irwin/McGraw-Hill ,   c2000.  
Physical Medium
xxxv, 923 p. : col. ill. ; 29 cm. + 1 computer optical disc (4 3/4 in.).
ISBN
0256260737 (student ed.) 0071092498 (annotated instructor's ed.)
General Note
"Free CD included"--Cover.  
Includes index.  
Subject Added Entry-Topical Term
Managerial accounting.
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008 990202s2000 ilua 001 0 eng
020 ▼a 0256260737 (student ed.)
020 ▼a 0071092498 (annotated instructor's ed.)
040 ▼a DLC ▼c DLC ▼d DLC ▼d 244002 ▼d 211009
042 ▼a pcc
049 0 ▼l 151108388
050 0 0 ▼a HF5657.4 ▼b .G37 2000
082 0 0 ▼a 658.15/1 ▼2 21
090 ▼a 658.1511 ▼b G242m9
100 1 ▼a Garrison, Ray H.
245 1 0 ▼a Managerial accounting / ▼c Ray H. Garrison, Eric W. Noreen.
250 ▼a 9th ed., P.L.U.S. ed., International ed.
260 ▼a Boston : ▼b Irwin/McGraw-Hill , ▼c c2000.
300 ▼a xxxv, 923 p. : ▼b col. ill. ; ▼c 29 cm. + ▼e 1 computer optical disc (4 3/4 in.).
500 ▼a "Free CD included"--Cover.
500 ▼a Includes index.
650 0 ▼a Managerial accounting.
700 1 ▼a Noreen, Eric W.

Holdings Information

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Contents information

Table of Contents


CONTENTS

chapter One Managerial Accounting and the Business Environment = 2

 The Work of Management and the Need for Managerial Accounting Information = 4

  Planning = 4

  Directing and Motivating = 5

  Controlling = 5

  The End Results of Managers' Activities = 6

  The Planning and Control Cycle = 6

 Comparison of Financial and Managerial Accounting = 7

  Emphasis on the Future = 8

  Relevance and Flexibility of Data = 8

  Less Emphasis on Precision = 8

  Segments of an Organization = 8

  Generally Accepted Accounting Principles(GAAP) = 8

  Managerial Accounting - Not Mandatory = 9

 Expanding Role of Managerial Accounting = 9

 The Changing Business Environment = 10

  Just-in-Time(JIT) = 10

   The JIT Concept = 11

   Key Elements in a JIT System = 13

   Benefits of a JIT System = 16

  Total Quality Management(TQM) = 17

   The Plan-Do-Check-Act Cycle = 17

   An Example of TQM in Practice = 17

   TQM Is Widely Used = 19

  Process Reengineering = 20

   An Example of Process Reengineering = 21

   The Problem of Employee Morale = 21

  The Theory of Constraints(TOC) = 22

   An Example of TOC = 22

   TOC and Continuous Improvement = 24

 International Competition = 24

 Organizational Structure = 26

  Decentralization = 26

  Line and Staff Relationships = 27

  The Controller = 27

 Professional Ethics = 28

  Code of Conduct for Management Accountants = 29

  Company Codes of Conduct = 31

  Codes of Conduct on the International Level = 32

 The Certified Management Accountant(CMA) = 32

 Summary = 33

 Key Terms for Review = 34

 Questions = 35

 Exercises = 36

 Problems = 37

 Group Exercises = 40

PART ONE The Foundation : Cost Terms, Systems Design, and Cost Behavior

 Chapter Two Cost Terms, Concepts, and Classifications = 42

  General Cost Classifications = 44

   Manufacturing Costs = 44

    Direct Materials = 45

    Direct Labor = 45

    Manufacturing Overhead = 45

   Nonmanufacturing Costs = 46

  Product Costs versus Period Costs = 46

   Product Costs = 46

   Period Costs = 47

  Cost Classifications on Financial Statements = 48

   The Balance Sheet = 48

   The Income Statement = 49

   Schedule of Cost of Goods Manufactured = 51

  Product Costs - A Closer Look = 52

   Inventoriable Costs = 53

   An Example of Cost Flows = 54

  Cost Classifications for Predicting Cost Behavior = 57

   Variable Cost = 57

   Fixed Cost = 58

  Cost Classifications for Assigning Costs to Cost Objects = 59

   Direct Cost = 59

   Indirect Cost = 59

  Cost Classifications for Decision Making = 60

   Differential Cost and Revenue = 60

   Opportunity Cost = 61

   Sunk Cost = 62

  Summary = 62

  Review Problem 1 : Cost Terms = 63

  Review Problem 2 : Schedule of Cost of Goods Manufactured and Income Statement = 64

  Key Terms for Review = 66

 Appendix 2A Further Classification of Labor Costs = 67

  Idle Time = 67

  Overtime Premium = 68

  Labor Fringe Benefits = 68

  Questions = 69

  Exercises = 69

  Problems = 73

  Cases = 80

  Group Exercises = 82

 Chapter Three Systems Design : Job-order Costing = 84

  Process and Job-Order Costing = 86

   Process Costing = 86

   Job-Order Costing = 87

  Job-Order Costing - An Overview = 87

   Measuring Direct Materials Cost = 88

   Job Cost Sheet = 89

   Measuring Direct Labor Cost = 89

   Application of Manufacturing Overhead = 91

    Using the Predetermined Overhead Rate = 92

    The Need for a Predetermined Rate = 93

   Choice of an Allocation Base for Overhead Cost = 94

   Computation of Unit Costs = 96

   Summary of Document Flows = 96

  Job-Order Costing - The Flow of Costs = 96

   The Purchase and Issue of Materials = 98

    Issue of Direct and Indirect Materials = 98

    Issue af Direct Materials Only = 99

   Labor Cost = 99

   Manufacturing Overhead Costs = 99

   The Application of Manufacturing Overhead = 100

    The Concept of a Clearing Account = 102

   Nonmanufacturing Costs = 102

   Cost of Goods Manufactured = 103

   Cost of Goods Sold = 103

   Summary of Cost Flows = 104

  Problems of Overhead Application = 104

   Underapplied and Overapplied Overhead = 104

   Disposition of Under-or Overapplied Overhead Balances = 109

    Closed Out to Cost of Goods Sold = 109

    Allocated between Accounts = 110

   A General Model of Product Cost Flows = 110

   Multiple Predetermined Overhead Rates = 111

  Job-Order Costing in Service Companies = 111

  Use of Bar Code Technology = 112

  Summary = 114

  Review Problem : Job-Order Costing = 114

  Key Terms for Review = 117

 Appendix 3A The Predetermined Overhead Rate and Capacity = 118

  Questions = 119

  Exercises = 120

  Problems = 126

  Cases = 139

  Group Exercises = 144

 Chapter Four Systems Design : Process Costing = 146

  Comparison of Job-Order and Process Costing = 148

   Similarities between Job-Order and Process Costing = 148

   Differences between Job-Order and Process Costing = 149

  A Perspective of Process Cost Flows = 149

   Processing Departments = 149

   The Flow of Materials, Labor, and Overhead Costs = 150

   Materials, Labor, and Overhead Cost Entries = 152

    Materials Costs = 152

    Labor Costs = 152

    Overhead Costs = 152

    Completing the Cost Flows = 153

  Equivalent Units of Production = 154

   Weighted-Average Method = 155

  Production Report - Weighted-Average Method = 157

   Step 1 : Prepare a Quantity Schedule and Compute the Equivalent Units = 158

   Step 2 : Compute Costs per Equivalent Unit = 159

   Step 3 : Prepare a Cost Reconciliation = 159

    Example of a Cost Reconciliation = 160

   A Comment about Rounding Errors = 162

  Operation Costing = 162

  Summary = 163

  Review Problem : Process Cost Flows and Reports = 164

  Key Terms for Review = 166

 Appendix 4A FIFO Method = 167

  Equivalent Units - FIFO Method = 167

  Comparison of Equivalent Units of Production under the Weighted-Average and FIFO Methods = 168

  Production Report - FIFO Method = 169

   Step 1 : Prepare a Quantity Schedule and Compute the Equivalent Units = 170

   Step 2 : Compute the Costs per Equivalent Unit = 170

   Step 3 : Prepare a Cost Reconciliation = 170

  A Comparison of Costing Methods = 172

  Questions = 173

  Exercises = 173

  Problems = 177

  Cases = 184

  Group Exercises = 186

 Chapter Five Cost Behavior : Analysis and Use = 188

  Types of Cost Behavior Patterns = 190

   Variable Costs = 190

    The Activity Base = 191

    Extent of Variable Costs = 192

   True Variable versus Step-Variable Costs = 193

    True Variable Costs = 193

    Step-Variable Costs = 193

   The Linearity Assumption and the Relevant Range = 193

   Fixed Costs = 194

   Types of Fixed Costs = 195

    Committed Fixed Costs = 195

    Discretionary Fixed Costs = 196

    The Trend toward Fixed Costs = 196

    Is Labor a Variable or a Fixed Cost? = 197

   Fixed Costs and the Relevant Range = 199

   Mixed Costs = 200

  The Analysis of Mixed Costs = 202

   The High-Low Method = 205

   The Scattergraph Method = 206

   The Least-Squares Regression Method = 208

   Multiple Regression Analysis = 210

  The Contribution Format = 210

   Why a New Income Statement Format? = 211

   The Contribution Approach = 211

  Summary = 212

  Review Problem 1 : Cost Behavior = 212

  Review Problem 2 : High-Low Method = 213

  Key Terms for Review = 214

 Appendix 5A Least-Squares Regression Calculations = 215

  Questions = 216

  Exercises = 217

  Problems = 220

  Cases = 227

  Group Exercises = 230

PART TWO The Central Theme : Planning and Control

 Chapter Six Cost-Volume-Profit Relationships = 232

  The Basics of Cost-Volume-Profit (CVP) Analysis = 235

   Contribution Margin = 235

   Contribution Margin Ratio(CM Ratio) = 237

   Some Applications of CVP Concepts = 239

    Change in Fixed Costs and Sales Volume = 239

    Change in Variable Costs and Sales Volume = 240

    Change in Fixed Cost, Sales Price, and Sales Volume = 240

    Change in Variable Cost, Fixed Cost, and Sales Volume = 241

    Change in Regular Sales Price = 241

   Importance of the Contribution Margin = 242

  Break-Even Analysis = 242

   Break-Even Computations = 242

    The Equation Method = 243

    The Contribution Margin Method = 244

   CVP Relationships in Graphic Form = 245

    Preparing the CVP Graph = 245

   Target Profit Analysis = 246

    The CVP Equation = 246

    The Contribution Margin Approach = 247

   The Margin of Safety = 247

  CVP Considerations in Choosing a Cost Structure = 249

   Cost Structure and Profit Stability = 249

   Operating Leverage = 251

   Automation : Risks and Rewards from a CVP Perspective = 253

  Structuring Sales Commissions = 253

  The Concept of Sales Mix = 255

   The Definition of Sales Mix = 255

   Sales Mix and Break-Even Analysis = 255

  Assumptions of CVP Analysis = 258

  Summary = 259

  Review Problem : CVP Relationships = 259

  Key Terms for Review = 261

  Questions = 262

  Exercises = 262

  Problems = 265

  Cases = 274

  Group Exercises = 278

 Chapter Seven Variable Costing : A Tool for Management = 282

  Overview of Absorption and Variable Costing = 284

   Absorption Costing = 284

   Variable Costing = 284

   Unit Cost Computations = 285

  Income Comparison of Absorption and Variable Costing = 286

  Extended Comparison of income Data = 289

  Effect of Changes in Production on Net Income = 293

   Variable Costing = 297

   Absorption Costing = 295

   The Impact on the Manager = 297

  Choosing a Costing Method = 298

   CVP Analysis and Absorption Costing = 298

   Decision Making = 299

   External Reporting and Income Taxes = 299

   Advantages of Variable Costing and the Contribution Approach = 299

   Variable Costing and the Theory of Constraints = 300

  Impact of JIT Inventory Methods = 301

  Summary = 301

  Review Problem = 302

  Key Terms for Review = 304

  Questions = 304

  Exercises = 305

  Problems = 308

  Cases = 314

  Group Exercises = 318

 Chapter Eight Activity-Based Costing : A Tool to Aid Decision Making = 320

  How Costs Are Treated Under Activity-Based Costing = 322

   Nonmanufacturing Costs and Activity-Based Costing = 322

   Manufacturing Costs and Activity-Based Costing = 323

    Plantwide Overhead Rate = 323

    Departmental Overhead Rates = 324

   The Costs of Idle Capacity in Activity-Based Costing = 324

  Designing an Activity-Based Costing(ABC) System = 324

   Identifying Activities to Include in the ABC System = 328

  The Mechanics of Activity-Based Costing = 330

   Tracing Overhead Costs to Activities and Cost Objects = 330

   Assigning Costs to Activity Cost Pools = 332

   Computation of Activity Rates = 334

  Targeting Process Improvements = 336

  Assigning Costs to Cost Objects = 337

   Overhead Costs Computed Using the ABC System = 337

   Product Margins Computed Using the ABC System = 338

  Comparison of Traditional and ABC Product Costs = 340

   Product Margins Computed Using the Traditional Cost System = 340

   The Differences between ABC and Traditional Product Costs = 340

  ABC Product Costs - An Action Analysis = 342

   Ease of Adjustment Codes = 342

   The Action Analysis View of the ABC Data = 343

  Activity-Based Costing and External Reports = 347

  A Simplified Approach to Activity-Based Costing = 347

  Summary = 350

  Review Problem : Activity-Based Costing = 351

  Key Terms for Review = 353

  Questions = 354

  Exercises = 355

  Problems = 360

  Cases = 368

  Group Exercises = 372

 Chapter Nine Profit Planning = 376

  The Basic Framework of Budgeting = 378

   Definition of Budgeting = 378

   Personal Budgets = 378

   Difference between Planning and Control = 378

   Advantages of Budgeting = 379

   Responsibility Accounting = 380

   Choosing a Budget Period = 381

   T he Self-Imposed Budget = 382

   The Matter of Human Relations = 384

   The Budget Committee = 385

   The Master Budget Interrelationships = 386

    The Sales Budget = 386

    The Cash Budget = 387

   Sales Forecasting - A Critical Step = 387

  Preparing the Master Budget = 388

   The Sales Budget = 389

   The Production Budget = 390

   Inventory Purchases - Merchandising Firm = 391

   The Direct Materials Budget = 392

   The Direct Labor Budget = 392

   The Manufacturing Overhead Budget = 394

   The Ending Finished Goods Inventory Budget = 395

   The Selling and Administrative Expense Budget = 395

   The Cash Budget = 396

   The Budgeted Income Statement = 398

   The Budgeted Balance Sheet = 399

   Expanding the Budgeted Income Statement = 401

  Zero-Base Budgeting = 402

  International Aspects of Budgeting = 403

  Summary = 404

  Review Problem : Budget Schedules = 404

  Key Terms for Review = 406

 Appendix 9A Economic Order Quantity(EOQ) and the Reorder Point = 407

  Costs Associated with Inventory = 407

  Computing the Economic Order Quantity(EOQ) = 407

   The Tabular Approach = 408

   The Formula Approach = 409

  JIT and the Economic Order Quantity(EOQ) = 410

  Production Lot Size = 411

   Production Lot Size and the Theory of Constraints = 412

   Activity-Based Costing(ABC) and the Production Lot Size = 412

  Reorder Point and Safety Stock = 412

   Constant Usage during the Lead Time = 412

   Variable Usage during the Lead Time = 413

  Key Terms for Review(Appendix 9A) = 413

  Questions = 414

  Exercises = 415

  Problems = 418

  Cases = 432

  Group Exercises = 435

 Chapter Ten Standard Costs and the Balanced Scorecard = 438

  Standard Costs - Management by Exception = 441

   Who Uses Standard Costs? = 441

  Setting Standard Costs = 442

   Ideal versus Practical Standards = 442

   Setting Direct Materials Standards = 444

   Setting Direct Labor Standards = 445

   Setting Variable Manufacturing Overhead Standards = 446

   Are Standards the Same as Budgets? = 446

  A General Model for Variance Analysis = 447

   Price and Quantity Variances = 447

  Using Standard Costs - Direct Materials Variances = 448

   Materials Price Variance - A Closer Look = 450

    Isolation of Variances = 451

    Responsibility for the Variance = 452

   Materials Quantity Variance - A Closer Look = 452

  Using Standard Costs - Direct Labor Variances = 453

   Labor Rate Variance - A Closer Look = 454

   Labor Efficiency Variance - A Closer Look = 455

  Using Standard Costs - Variable Manufacturing Overhead Variances = 456

   Manufacturing Overhead Variances - A Closer Look = 457

  Structure of Performance Reports = 458

  Variance Analysis and Management by Exception = 459

  international Uses of Standard Costs = 461

  Evaluation of Controls Based on Standard Costs = 462

   Advantages of Standard Costs = 462

   Potential Problems with the Use of Standard Costs = 462

  Balanced Scorecard = 464

   Common Characteristics of Balanced Scorecards = 464

   A Company's Strategy and the Balanced Scorecard = 467

   Advantages of Timely and Graphic Feedback = 469

   Some Measures of Internal Business Process Performance = 470

    Delivery Cycle Time = 471

    Throughput (Manufacturing Cycle) Time = 471

    Manufacturing Cycle Efficiency(MCE) = 471

    Some Final Observations concerning the Balanced Scorecard = 473

  Summary = 473

  Review Problem : Standard Costs = 474

   Materials Variances = 474

   Labor Variances = 475

   Variable Manufacturing Overhead Variances = 475

  Key Terms for Review = 476

 Appendix 10A General Ledger Entries to Record Variances = 477

  Direct Materials Variances = 477

  Direct Labor Variances = 477

  Variable Manufacturing Overhead Variances = 478

  Cost Flows in a Standard Cost System = 478

  Questions = 479

  Exercises = 480

  Problems = 483

  Cases = 494

  Group Exercises = 498

 Chapter Eleven Flexible Budgets and Overhead Analysis = 502

  Flexible Budgets = 504

   Characteristics of a Flexible Budget = 504

   Deficiencies of the Static Budget = 504

   How a Flexible Budget Works = 507

   Using the Flexible Budgeting Concept in Performance Evaluation = 507

   The Measure of Activity - A Critical Choice = 510

  Variable Overhead Variances - A Closer Look = 510

   The Problem of Actual versus Standard Hours = 510

   Spending Variance Alone = 511

    Interpreting the Spending Variance = 512

   Both Spending and Efficiency Variances = 512

    Interpreting the Efficiency Variance = 513

    Control of the Efficiency Variance = 514

   Activity-Based Costing and the flexible Budget = 514

  Overhead Rates and Fixed Overhead Analysis = 515

   Flexible Budgets and Overhead Rates = 515

    Denominator Activity = 516

    Computing the Overhead Rate = 516

   Overhead Application in a Standard Cost System = 517

   The Fixed Overhead Variances = 518

   The Budget Variance - A Closer Look = 519

   The Volume Variance - A Closer Look = 519

   Graphic Analysis of Fixed Overhead Variances = 521

   Cautions in Fixed Overhead Analysis = 522

   Overhead Variances and Under-or Overapplied Overhead Cost = 522

  Review Problem : Overhead Analysis = 523

   Variable Overhead Variances = 524

   Fixed Overhead Variances = 524

   Summary of Variances = 525

  Key Terms for Review = 525

  Questions = 525

  Exercises = 526

  Problems = 530

  Cases = 542

  Group Exercises = 546

 Chapter Twelve Segment Reporting and Decentralization = 550

  Decentralization in Organizations = 552

   Advantages and Disadvantages of Decentralization = 532

   Decentralization and Segment Reporting = 553

   Cost, Profit, and Investment Centers = 553

    Cost Center = 553

    Profit Center = 554

    Investment Center = 554

   Responsibility Centers = 554

  Segment Reporting and Profitability Analysis = 554

   Levels of Segmented Statements = 557

   Sales and Contribution Margin = 557

   Traceable and Common Fixed Costs = 559

    Identifying Traceable Fixed Costs = 559

    Activity-Based Costing = 559

   Traceable Costs Can Become Common Costs = 560

   Segment Margin = 561

   There Is More Than One Way to Segment a Company = 563

  Hindrances to Proper Cost Assignment = 564

   Omission of Costs = 564

   Inappropriate Methods for Allocating Costs among Segments = 564

    Failure to Trace Costs Directly = 565

    Inappropriate Allocation Base = 565

   Arbitrarily Dividing Common Costs among Segments = 565

  Rate of Return for Measuring Managerial Performance = 566

   The Return on Investment(ROI) Formula = 566

   Net Operating Income and Operating Assets Defined = 567

   Plant and Equipment : Net Book Value or Gross Cost? = 567

  Controlling the Rate of Return = 568

   Approach 1 : Increase Sales = 570

   Approach 2 : Reduce Expenses = 570

   Approach 3 : Reduce Assets = 570

   Increase Sales = 571

   Reduce Expenses = 571

   Reduce Operating Assets = 571

   ROI and the Balanced Scorecard = 572

   Criticisms of ROI = 572

  Residual Income - Another Measure of Performance = 573

   Motivation and Residual Income = 574

   Divisional Comparison and Residual Income = 576

  Summary = 576

  Review Problem 1 : Segmented Statements = 577

  Review Problem 2 : Return on investment(ROI) and Residual Income = 578

  Key Terms for Review = 579

 Appendix 12A Transfer Pricing = 580

  Negotiated Transfer Prices = 580

   The Selling Division's Lowest Acceptable Transfer Price = 581

   The Purchasing Division's Highest Acceptable Transfer Price = 581

   Selling Division with Idle Capacity = 582

   Selling Division with No Idle Capacity = 583

   Selling Division Has Some Idle Capacity = 584

   No Outside Supplier = 584

   Evaluation of Negotiated Transfer Prices = 584

  Transfers at the Cost to the Selling Division = 585

  Transfers at Market Price = 585

  Divisional Autonomy and Suboptimization = 586

  international Aspects of Transfer Pricing = 587

  Review Problem 3 : Transfer Pricing = 587

   Situation A = 587

   Situation B = 588

  Key Terms for Review (Appendix 12A) = 589

  Questions = 589

  Exercises = 590

  Problems = 595

  Cases = 609

  Group Exercises = 611

PART THREE The capstone : Using Cost Data in Decision Making

 Chapter Thirteen Relevant Costs for Decision Making = 614

  Cost Concepts for Decision Making = 616

   Identifying Relevant Costs and Benefits = 616

   Different Costs for Different Purposes = 617

  Sunk Costs Are Not Relevant Costs = 617

   Book Value of Old Equipment = 618

    Focusing on Relevant Costs = 619

  Future Costs That Do Not Differ Are Not Relevant Costs = 621

   An Example of Irrelevant Future Costs = 621

   Why Isolate Relevant Costs? = 622

  Adding and Dropping Product Lines and Other Segments = 624

   An Illustration of Cost Analysis = 624

   A Comparative Format = 626

   Beware of Allocated Fixed Costs = 626

  The Make or Buy Decision = 628

   Strategic Aspects of the Make or Buy Decision = 629

   An Example of Make or Buy = 629

   The Matter of Opportunity Cost = 631

  Special Orders = 631

  Utilization of a Constrained Resource = 632

   Contribution in Relation to a Constrained Resource = 633

   Managing Constraints = 634

   The Problem of Multiple Constraints = 636

  Joint Product Costs and the Contribution Approach = 636

   The Pitfalls of Allocation = 637

   Sell or Process Further Decisions = 638

  Activity-Based Costing and Relevant Costs = 639

  Summary = 639

  Review Problem : Relevant Costs = 640

  Key Terms for Review = 641

  Exercises = 643

  Problems = 647

  Cases = 658

  Group Exercises = 663

 Chapter Fourteen Capital Budgeting Decisions = 666

  Capital Budgeting - Planning Investments = 668

   Typical Capital Budgeting Decisions = 668

   The Time Value of Money = 668

  Discounted Cash Flows - The Net Present Value Method = 669

   The Net Present Value Method Illustrated = 669

   Emphasis on Cash Flows = 670

    Typical Cash Outflows = 670

    Typical Cash Inflows = 671

   Recovery of the Original Investment = 671

   Simplifying Assumptions = 672

   Choosing a Discount Rate = 673

   An Extended Example of the Net Present Value Method = 673

  Discounted Cash Flows - The internal Rate of Return Method = 674

   The Internal Rate of Return Method Illustrated = 674

   Salvage Value and Other Cash Flows = 675

   The Process of Interpolation = 676

   Using the Internal Rate of Return = 676

  The Cost of Capital as a Screening Tool = 676

  Comparison of the Net Present Value and the Internal Rate of Return Methods = 677

  Expanding the Net Present Value Method = 678

   The Total-Cost Approach = 678

   The Incremental-Cost Approach = 679

   Least-Cost Decisions = 680

  Capital Budgeting and Nonprofit Organizations = 680

  investments in Automated Equipment = 682

   Benefits from Automation = 682

   Decision Framework for Intangible Benefits = 684

  Preference Decisions - The Ranking of Investment Projects = 684

   Internal Rate of Return Method = 685

   Net Present Value Method = 685

  Other Approaches to Capital Budgeting Decisions = 686

   The Payback Method = 686

   Evaluation of the Payback Method = 687

   An Extended Example of Payback = 688

   Payback and Uneven Cash Flows = 690

   The Simple Rate of Return Method = 690

   Criticisms of the Simple Rate of Return = 692

  Postaudit of Investment Projects = 692

  Summary = 693

  Review Problem 1 : Basic Present Value Computations = 693

  Review Problem 2 : Comparison of Capital Budgeting Methods = 694

  Key Terms for Review = 696

 Appendix 14A The Concept of Present Value = 696

  The Theory of Interest = 696

   Compound Interest = 697

   Present Value and Future Value = 697

  Computation of Present Value = 697

  Present Value of a Series of Cash Flows = 699

  Key Terms for Review (Appendix 14A) = 700

 Appendix 14B Inflation and Capital Budgeting = 700

 Appendix 14C Future Value and Present Value Tables = 702

  Questions = 704

  Exercises = 705

  Problems = 709

  Cases = 718

  Group Exercises = 721

 chapter Fifteen Income Taxes in Capital Budgeting Decisions = 724

  The Concept of After-Tax Cost = 726

  Depreciation Tax Shield = 728

  Modified Accelerated Cost Recovery System = 729

   Special MACRS Rules = 730

   Using the MACRS Tables = 731

   Optional Straight-Line Method = 732

  The Choice of a Depreciation Method = 734

  Example of Income Taxes and Capital Budgeting = 735

  The Total-Cost Approach and Income Taxes = 737

  Summary = 740

  Review Problem : Capital Budgeting and Taxes = 740

  Key Terms for Review = 741

  Questions = 741

  Exercises = 742

  Problems = 743

  Cases = 749

  Group Exercises = 752

PART FOUR Selected Topics for Further Study

 Chapter Sixteen Service Department Costing : An Activity Approach = 754

  Allocations Using the Direct and Step Method = 756

   Selecting Allocation Bases = 756

   Interdepartmental Services = 758

    Direct Method = 758

    Step Method = 760

    Reciprocal Method = 761

    Revenue Producing Departments = 761

  Allocating Costs by Behavior = 762

   Variable Costs = 762

   Fixed Costs = 762

   Should Actual or Budgeted Costs Be Allocated? = 763

   A Summary of Cost Allocation Guidelines = 763

   Implementing the Allocation Guidelines = 764

    Basic Allocation Techniques = 764

  Effect of Allocations on Operating Departments = 766

  An Extended Example = 767

  Some Cautions in Allocating Service Department Costs = 768

   Pitfalls in Allocating Fixed Costs = 768

   Beware of Sales Dollars as an Allocation Base = 770

   No Distinction Made between Fixed and Variable Costs = 771

   Should All Costs Be Allocated? = 771

  Summary = 772

  Review Problem : Direct and Step Methods = 773

  Key Terms for Review = 775

  Questions = 775

  Exercises = 775

  Problems = 778

  Cases = 783

  Group Exercises = 786

 Chapter Seventeen "How Well Am I Doing?" Statement of Cash F1ows = 790

  The Basic Approach to a Statement of Cash Flows = 793

   Definition of Cash = 793

   Constructing the Statement of Cash Flows Using Changes in Noncash Balance Sheet Accounts = 793

  An Example of a Simplified Statement of Cash Flows = 795

   Constructing a Simplified Statement of Cash Flows = 795

   The Need for a More Detailed Statement = 797

  Organization of the Full-Fledged Statement of Cash Flows = 798

   Operating Activities = 798

   Investing Activities = 798

   Financing Activities = 799

  Other Issues in Preparing the Statement of Cash Flows = 799

   Cash Flows : Gross or Net? = 799

   Operating Activities : Direct or Indirect Method? = 799

   Direct Exchange Transactions = 800

  An Example of a Full-Fledged Statement of Cash Flows = 800

   Eight Basic Steps to Preparing the Statement of Cash Flows = 801

   Setting Up the Worksheet(Steps 1 - 4) = 803

   Adjustments to Reflect Gross, Rather than Net, Amounts(Step 5) = 803

   Classifying Entries as Operating, Investing, or Financing Activities(Step 6) = 805

   The Completed Statement of Cash Flows(Steps 7 and 8) = 807

   Interpretation of the Statement of Cash Flows = 808

   Depreciation, Depletion, and Amortization = 808

  Summary = 808

  Review Problem = 809

  Key Terms for Review = 811

 Appendix 17A The Direct Method of Determining the "Net Cash Provided by Operating Activities" = 811

  Similarities and Differences in the Handling of Data = 812

  Special Rules - Direct and Indirect Methods = 813

  Questions = 813

  Exercises = 814

  Problems = 817

  Group Exercises = 824

 Chapter Eighteen "How Well Am I Doing?" Financial Statement Analysis = 826

  Limitations of Financial Statement Analysis = 828

   Comparison of Financial Data = 828

   The Need to Look beyond Ratios = 828

  Statements in Comparative and Common-Size Form = 829

   Dollar and Percentage Changes on Statements = 829

    Horizontal Analysis = 830

    Trend Percentages = 831

   Common-Size Statements = 833

    The Balance Sheet = 833

    The Income Statement = 833

  Ratio Analysis - The Common Stockholder = 835

   Earnings per Share = 835

   Price-Earnings Ratio = 836

   Dividend Payout and Yield Ratios = 836

    The Dividend Payout Ratio = 836

    The Dividend Yield Ratio = 837

   Return on Total Assets = 837

   Return on Common Stockholders' Equity = 838

   Financial Leverage = 839

    The Impact of Income Taxes = 839

    The Desirability of Leverage = 839

   Book Value per Share = 840

  Ratio Analysis - The Short-Term Creditor = 842

   Working Capital = 842

   Current Ratio = 842

   Acid-Test (Quick) Ratio = 843

   Accounts Receivable Turnover = 844

   Inventory Turnover = 845

  Ratio Analysis - The Long-Term Creditor = 846

   Times Interest Earned Ratio = 846

   Debt-to-Equity Ratio = 846

  Summary of Ratios and Sources of Comparative Ratio Data = 847

  Summary = 849

  Review Problem : Selected Ratios and Financial Leverage = 850

  Key Terms for Review = 852

  Questions = 853

  Exercises = 853

  Problems = 856

  Group Exercises = 868

 Appendix A Pricing Products and services = 872

  Introduction = 872

  The Economists' Approach to Pricing = 873

   Elasticity of Demand = 873

   The Profit-Maximizing Price = 874

  The Absorption Costing Approach to Cost-Plus Pricing = 876

   Setting a Target Selling Price Using the Absorption Costing Approach = 876

   Determining the Markup Percentage = 877

   Problems with the Absorption Costing Approach = 878

  Target Costing = 880

   Reasons for Using Target Costing = 880

   An Example of Target Costing = 881

  Service Companies - Time and Material Pricing = 882

   Time Component = 882

   Material Component = 883

   An Example of Time and Material Pricing = 883

  Summary = 884

  Key Terms for Review = 885

  Questions = 885

  Exercises = 886

  Problems = 887

  Group Exercises = 891

 Appendix B Cost of Quality = 892

  Introduction = 892

  Quality of Conformance = 892

   Prevention Costs = 893

   Appraisal Costs = 894

   Internal Failure Costs = 895

   External Failure Costs = 895

   Distribution of Quality Costs = 896

  Quality Cost Reports = 897

   Quality Cost Reports in Graphic Form = 897

   Uses of Quality Cost Information = 898

  International Aspects of Quality = 900

   The ISO 9000 Standards = 900

  Summary = 901

  Key Terms for Review = 901

  Questions = 902

  Exercises = 902

  Problems = 906

  Group Exercises = 906

  Photo Credits = 907

  Author Index = 908

  Company Index = 909

  Subject Index = 912



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