Principles of Accounting, Volume 2: Managerial Accounting

Description

Preface 1. About OpenStax 2. About OpenStax resources 3. About Principles of Accounting 4. Additional resources 5. About the authors Chapter 1. Accounting as a Tool for Managers Table of Contents Why It Matters* 1.1. Define Managerial Accounting and Identify the Three Primary Responsibilities of Management* 1.2. Distinguish between Financial and Managerial Accounting* 1.3. Explain the Primary Roles and Skills Required of Managerial Accountants* 1.4. Describe the Role of the Institute of Management Accountants and the Use of Ethical Standards* 1.5. Describe Trends in Today’s Business Environment and Analyze Their Impact on Accounting* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Thought Provokers Chapter 2. Building Blocks of Managerial Accounting Table of Contents Why It Matters* 2.1. Distinguish between Merchandising, Manufacturing, and Service Organizations* 2.2. Identify and Apply Basic Cost Behavior Patterns* 2.3. Estimate a Variable and Fixed Cost Equation and Predict Future Costs* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Problem Set A Problem Set B Thought Provokers Chapter 3. Cost-Volume-Profit Analysis Table of Contents Why It Matters* 3.1. Explain Contribution Margin and Calculate Contribution Margin per Unit, Contribution Margin Ratio, and Total Contribution Margin* 3.2. Calculate a Break-Even Point in Units and Dollars* 3.3. Perform Break-Even Sensitivity Analysis for a Single Product Under Changing Business Situations* 3.4. Perform Break-Even Sensitivity Analysis for a Multi-Product Environment Under Changing Business Situations* 3.5. Calculate and Interpret a Company’s Margin of Safety and Operating Leverage* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Problem Set A Problem Set B Thought Provokers Chapter 4. Job Order Costing Table of Contents Why It Matters* 4.1. Distinguish between Job Order Costing and Process Costing* 4.2. Describe and Identify the Three Major Components of Product Costs under Job Order Costing* 4.3. Use the Job Order Costing Method to Trace the Flow of Product Costs through the Inventory Accounts* 4.4. Compute a Predetermined Overhead Rate and Apply Overhead to Production* 4.5. Compute the Cost of a Job Using Job Order Costing* 4.6. Determine and Dispose of Underapplied or Overapplied Overhead* 4.7. Prepare Journal Entries for a Job Order Cost System* 4.8. Explain How a Job Order Cost System Applies to a Nonmanufacturing Environment* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Problem Set A Problem Set B Thought Provokers Chapter 5. Process Costing Table of Contents Why It Matters* 5.1. Compare and Contrast Job Order Costing and Process Costing* 5.2. Explain and Identify Conversion Costs* 5.3. Explain and Compute Equivalent Units and Total Cost of Production in an Initial Processing Stage* 5.4. Explain and Compute Equivalent Units and Total Cost of Production in a Subsequent Processing Stage* 5.5. Prepare Journal Entries for a Process Costing System* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Problem Set A Problem Set B Thought Provokers Chapter 6. Activity-Based, Variable, and Absorption Costing Table of Contents Why It Matters* 6.1. Calculate Predetermined Overhead and Total Cost under the Traditional Allocation Method* 6.2. Describe and Identify Cost Drivers* 6.3. Calculate Activity-Based Product Costs* 6.4. Compare and Contrast Traditional and Activity-Based Costing Systems* 6.5. Compare and Contrast Variable and Absorption Costing* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Problem Set A Problem Set B Thought Provokers Chapter 7. Budgeting Table of Contents Why It Matters* 7.1. Describe How and Why Managers Use Budgets* 7.2. Prepare Operating Budgets* 7.3. Prepare Financial Budgets* 7.4. Prepare Flexible Budgets* 7.5. Explain How Budgets Are Used to Evaluate Goals* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Problem Set A Problem Set B Thought Provokers Chapter 8. Standard Costs and Variances Table of Contents Why It Matters* 8.1. Explain How and Why a Standard Cost Is Developed* 8.2. Compute and Evaluate Materials Variances* 8.3. Compute and Evaluate Labor Variances* 8.4. Compute and Evaluate Overhead Variances* 8.5. Describe How Companies Use Variance Analysis* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Problem Set A Problem Set B Thought Provokers Chapter 9. Responsibility Accounting and Decentralization Table of Contents Why It Matters* 9.1. Differentiate between Centralized and Decentralized Management* 9.2. Describe How Decision-Making Differs between Centralized and Decentralized Environments* 9.3. Describe the Types of Responsibility Centers* 9.4. Describe the Effects of Various Decisions on Performance Evaluation of Responsibility Centers* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Problem Set A Problem Set B Thought Provokers Chapter 10. Short-Term Decision Making Table of Contents Why It Matters* 10.1. Identify Relevant Information for Decision-Making* 10.2. Evaluate and Determine Whether to Accept or Reject a Special Order* 10.3. Evaluate and Determine Whether to Make or Buy a Component* 10.4. Evaluate and Determine Whether to Keep or Discontinue a Segment or Product* 10.5. Evaluate and Determine Whether to Sell or Process Further* 10.6. Evaluate and Determine How to Make Decisions When Resources Are Constrained* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Problem Set A Problem Set B Thought Provokers Chapter 11. Capital Budgeting Decisions Table of Contents Why It Matters* 11.1. Describe Capital Investment Decisions and How They Are Applied* 11.2. Evaluate the Payback and Accounting Rate of Return in Capital Investment Decisions* 11.3. Explain the Time Value of Money and Calculate Present and Future Values of Lump Sums and Annuities* 11.4. Use Discounted Cash Flow Models to Make Capital Investment Decisions* 11.5. Compare and Contrast Non-Time Value-Based Methods and Time Value-Based Methods in Capital Investment Decisions* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Problem Set A Problem Set B Thought Provokers Chapter 12. Balanced Scorecard and Other Performance Measures Table of Contents Why It Matters* 12.1. Explain the Importance of Performance Measurement* 12.2. Identify the Characteristics of an Effective Performance Measure* 12.3. Evaluate an Operating Segment or a Project Using Return on Investment, Residual Income, and Economic Value Added* 12.4. Describe the Balanced Scorecard and Explain How It Is Used* Glossary Summary Multiple Choice Questions Exercise Set A Exercise Set B Problem Set A Problem Set B Thought Provokers Chapter 13. Sustainability Reporting Table of Contents Why It Matters* 13.1. Describe Sustainability and the Way It Creates Business Value* 13.2. Identify User Needs for Information* 13.3. Discuss Examples of Major Sustainability Initiatives* 13.4. Future Issues in Sustainability* Glossary Summary Multiple Choice Questions Thought Provokers Appendix A. Financial Statement Analysis* A.1. Financial Statement Analysis A.2. Horizontal Analysis A.3. Vertical Analysis A.4. Overview of Financial Ratios A.5. Advantages and Disadvantages of Financial Statement Analysis Appendix B. Time Value of Money* B.1. Present Value of $1 Table B.2. Present Value of an Ordinary Annuity Table B.3. Future Value of $1 Table B.4. Future Value of an Ordinary Annuity Table Appendix C. Suggested Resources* C.1. Sample Financial Statements C.2. Accounting Software and Tools C.3. Personal Finance C.4. Accounting-Related Organizations C.5. Accounting Exams and Certificates Solutions Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 Chapter 12 Chapter 13 Index Blank Page