By Michael W. Maher, William N. Lanen, Shannon W. Anderson
"Fundamentals of fee Accounting" offers an instantaneous, real looking, and effective method to research fee accounting, built-in with new know-how studying instruments. basics is brief (approximately seven-hundred pages) making it effortless to hide in a single semester. The authors have saved the textual content concise through targeting the main techniques scholars have to grasp. the choice commencing vignettes and enterprise program containers convey lifelike functions of those strategies all through. All chapters finish with a Debrief that hyperlinks the themes within the bankruptcy to the choice challenge confronted through the executive within the starting vignette. complete end-of-chapter fabric presents scholars with the entire perform they should totally research every one notion. McGraw-Hill attach Accounting Plus presents scholars each virtue as they attempt to appreciate the most important techniques of fee accounting and its position in company. attach Accounting Plus deals a whole electronic answer with a strong on-line studying and homework administration approach, an built-in media-rich book, assignable end-of-chapter fabric, algorithmic performance, and reporting services. Contained inside of attach Accounting is McGraw-Hill's adaptive studying process, LearnSmart, that's designed to aid scholars study quicker, learn extra successfully, and preserve extra wisdom for larger success.
About the Author:
A Professor of administration on the collage of California-Davis, Professor Maher formerly taught on the college of Michigan, the collage of Chicago, and the collage of Washington. He additionally labored at the audit employees at Arthur Andersen & Co. and was once a self-employed monetary advisor for small -businesses. He acquired his BBA from Gonzaga collage (which named him unique Alumnus in 1989), and his MBA and Ph.D. from the college of Washington, and earned the CPA from the country of Washington. Professor Maher is president of the administration Accounting component of the yankee Accounting organization, and has served at the editorial forums of The Accounting evaluation, Accounting Horizons, magazine of administration Accounting study, and administration Accounting. Co-author of 2 major textbooks, rules of Accounting and Managerial Accounting, Maher has co-authored a number of extra books and monographs, together with inner Controls in U.S. enterprises and administration Incentive repayment Plans, and released articles in lots of journals, together with administration Accounting, The magazine of Accountancy, The Accounting evaluation, The magazine of Accounting study, monetary govt, and The Wall highway magazine. For his learn on inner controls, Maher used to be presented the yank Accounting Association's aggressive Manuscript Award and the AICPA extraordinary Contribution to Literature Award. He has additionally obtained the award for the phenomenal Tax Manuscript, and from the scholars on the collage of California's Graduate tuition of administration, he has got the once a year amazing instructor Award 3 times and a unique award for impressive carrier two times
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For example, the chief of internal medicine is responsible for the operations of a particular part of a hospital. The president of General Motors Europe is responsible for most of the company’s operations in Europe. The president of a company is responsible for the entire company. indd 11 responsibility center Specific unit of an organization assigned to a manager who is held accountable for its operations and resources. 4 Carmen Diaz President Responsibility Centers, Revenues, and Costs Ray Adams Vice President Retail Operations A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Cathy Peterson Vice President Wholesale Operations B C CARMEN’S COOKIES Income Statement For the Month Ending April 30 Retail Wholesale Operations Operations $ 28,400 $ 23,600 D Total Sales revenue $ 52,000 Department costs 13,500 9,800 23,300 Food 4,500 3,200 7,700 Labor a Utilities 1,800 2,100 3,900 Rent 5,000 2,500 7,500 Total department costs $ 24,800 $ 17,600 $ 42,400 Center margin b $ 3,600 $ 6,000 $ 9,600 General and administrative costs General manager’s salary (Carmen) 5,000 Other (administrative) 3,200 Total general and administrative costs $ 8,200 Operating profit $ 1,400 a Includes department managers’ salaries but excludes Carmen’s salary.
Note that only differential costs and revenues affect the decision. For example, rent does not change, so it is irrelevant to the decision. In Chapters 2 through 11, we discuss methods to estimate and analyze costs, as well as how accounting systems record and report cost information. Fast-Food Chain Menu Items and Costs It is not just small businesses that think about costs. With an increase in food and energy prices, fast-food chains, such as Burger King and McDonald’s, are considering alternative ways to prepare some of their basic items.
LO 1-1 Describe the way managers use accounting information to create value in organizations. indd 3 04/02/13 12:23 PM 4 Part I Introduction and Overview Value Chain value chain Set of activities that transforms raw resources into the goods and services that end users purchase and consume. value-added activities Those activities that customers perceive as adding utility to the goods or services they purchase. The value chain is the set of activities that transforms raw resources into the goods and services end users (households, for example) purchase and consume.
Fundamentals of Cost Accounting (4th Edition) by Michael W. Maher, William N. Lanen, Shannon W. Anderson