Cost Management with Student CD ROM and Powerweb

The Hilton/Maher/Selto text holds the more modern view that managers are active participants in cost minimization and control. Accountants are moving away from the traditional role of calculating and reporting results towards concentrating on the important tasks of timely analysis, interpretation, and communication of financial and related information.


Key features


Cost Management Theme integrated throughout the table of contents (cost hierarchy, value chain, balanced scorecard). This teaches students to be decision-makers who can identify the impact of anticipated decisions on cost drivers, costs, and profits.
Each chapter has a focus company incorporated throughout. The authors use real companies as suppliers, customers, competitors, etc. to reinforce real world application. At the beginning of each chapter, a company memo, press release, e-mail message, or other company document introduces students to the issues the Focus Company will face in the chapter. This important feature is a product innovation in the cost accounting market.
Information Technology/Communication is woven into the story of each chapter. This unique feature identifies the importance of information technology in cost accounting and cost management for business planning. Managerial accountants are presented as the link between the IT personnel and management and/or decision-makers.
Cross Cultural and International integration is demonstrated through the use of company examples that illustrate foreign investment, domestic companies opening plants in other countries, and exposing the varying interpretations of financial data that results from cultural differences.
Balance of Manufacturing, Service, and Nonprofit Companies. This balance gives students exposure to all types of companies.
Inclusion of Strategy throughout the book to reinforce decision making skills. Because many of the traditional accounting functions are now automated by sophisticated software, accountants must add value to the company in other ways. More and more, companies are expecting their accountants to be decision-makers.
An Applied Research Emphasis is evident in the ?Research Insights? feature that shows how contemporary research has affected practice.
Cost Management Challenges begin each chapter. These challenges are questions based on the Focus Company. Students need the tools discussed in the chapter to answer the questions.
?You?re the Decision-Maker? feature asks students to take on a role to solve realistic, challenging problems. The questions place a strong emphasis on interpretation and analysis of data, and how real world factors affect it.
Short Cases are included at the end of each chapter. These cases allow students to apply what they?ve learned in a real-world situation.
Well-known and respected author team is the ideal combination of experience and skills to bring students the future of cost management and accounting.
Website (mhhe.com/hms) features materials for instructors and students, including on-line supplements, related links for additional investigation, suggestions for related readings, and much more.


Table of contents


Prologue: Modern Management Practices
Section One: Setting the Stage?The Importance of Analyzing and Managing Costs
Ch. 1 The Role of Cost Management: Finding Opportunity and Leading Change
Ch. 2 Using Lead and Lag Measures to Communicate, Motivate, and Evaluate
Ch. 3 Managing Costs of Constrained Resources
Ch. 4 Measuring Costs of Operations
Section Two: Cost Measurement Systems?Designing Cost Management Systems to Support Decision Making and Financial Reporting
Ch. 5 The Design and Use of Activity-Based Costing Systems
Ch. 6 Job and Project Costing
Ch. 7 Process Costing
Ch. 8 Joint Cost Allocation
Ch. 9 Service Cost Allocation and Outsourcing
Section Three: Process Management. Identifying Opportunities for Improvement
Ch. 10 Theory and Implementation of Activity-Based Management
Ch. 11 Managing Quality and Time
Ch. 12 Cost Estimation
Section Four: Cost-Based Decision Making: Identifying and Using Differential Costs of Alternative Choices
Ch. 13 Differential Costs and Financial Modeling
Ch. 14 Long-term Decisions?Capital Budgeting
Section Five: Operational and Financial Budgeting: Building and Evaluating Financial Plans.
Ch. 15 Budgeting and Financial Planning
Ch. 16 Standard Costing, Variance Analysis and Kaizen Costing
Ch. 17 Flexible Budgets, Overhead Cost Management, and Activity-Based Budgeting
Ch. 18 Sales Performance Evaluation, Customer Profitability Analysis, and Non-financial Performance Measures
Section Six: Performance Management: Creating and Managing Value-Added Effort
Ch. 19 Responsibility Accounting and Investment Center Performance Measures
Ch. 20 Transfer Pricing
Ch. 21 Incentive Systems and Performance Measurement
Epilogue