Management Accounting The Cornerstone of Business Decisions

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ISBN: 9780324187540 | 0324187548
Cover: Hardcover
Copyright: 1/26/2005

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In Cornerstone, traditional coverage meets well developed pedagogy (cornerstones) and real world connection through the use of a REAL feature company (Kicker Car Speakers) providing students with a solid foundation for making business decisions or moving on to the next accounting course. In addition, Personal Trainer 3.0, the preeminent interactive aid for developing the fundamental skills of Managerial Accounting, will accompany the text.

Introduction to Management Accounting

(24)

The Meaning of Management Accounting

(2)

Information Needs of Managers and Other Users

(1)

Management Accounting and Financial Accounting

(2)

Current Focus of Management Accounting

(4)

New Methods of Costing Products and Services

(1)

Customer Orientation

(1)

Cross-Functional Perspective

(1)

Total Quality Management

(1)

Time Is a Competitive Element

(1)

Efficiency

(1)

The Role of the Management Accountant

(1)

Management Accounting and Ethical Conduct

(2)

Ethical Behavior

(1)

Company Codes of Ethical Conduct

(1)

Certification

(11)

The CMA

(1)

The CPA

(1)

The CIA

(9)

Basic Management Accounting Concepts

(38)

The Meaning and Uses of Cost

(4)

Cost

(1)

Accumulating and Assigning Costs

(1)

Cost Objects

(1)

Assigning Costs to Cost Objects

(3)

Product and Service Costs

(6)

Determining Product Cost

(3)

How to Calculate Product Cost in Total and Per Unit

(1)

How to Calculate Prime Cost and Conversion Cost in Total and Per Unit

(1)

Period Costs

(1)

Preparing Income Statements

(26)

Cost of Goods Manufactured

(1)

How to Calculate the Direct Materials Used in Production

(1)

How to Calculate Cost of Goods Manufactured

(1)

How to Calculate Cost of Goods Sold

(1)

Income Statement: Manufacturing Firm

(1)

How to Prepare an Income Statement for a Manufacturing Firm

(1)

How to Calculate the percentage of Sales Revenue for Each Line on the Income Statement

(1)

Income Statement: Service Organization

(1)

How to Prepare an Income Statement for a Service Organization

(21)

Cost Behavior

(46)

Basics of Cost Behavior

(5)

Measures of Output and the Relevant Range

(1)

Fixed Costs

(3)

Variable Costs

(1)

The Reasonableness of Straight-Line Cost Relationships

(1)

Mixed Costs and Step Costs

(4)

Mixed Costs

(1)

Step-Cost Behavior

(2)

Accounting Records and Mixed Costs

(1)

Need for Cost Separation

(1)

Methods for Separating Mixed Costs Into Fixed and Variable Components

(15)

How to Create and Use a Cost Formula

(1)

The High-Low Method

(1)

How to Use the High-Low Method to Calculate Fixed Cost and the Variable Rate and to Construct a Cost Formula

(1)

How to Use the High-Low Method to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output

(1)

How to Use the High-Low Method to Calculate Predicted Total Variable Cost and Total Cost for a Time Period that Differs from the Data Period

(1)

Scattergraph Method

(4)

The Method of Least Squares

(2)

How to Use the Regression Method to Calculate Fixed Cost and the Variable Rate and to Construct a Cost Formula and to Determine Budgeted Cost

(1)

Managerial Judgment

(4)

Appendix

(20)

Using the Regression Programs

(1)

Goodness of Fit

(19)

Cost-Volume-Profit Analysis: A Managerial Planning Tool

110

(44)

Break-Even Point in Units and in Sales Dollars

112

(7)

Using Operating Income in CVP Analysis

112

(1)

How to Prepare a Contribution Margin Income Statement

113

(1)

Break-Even Point in Units

114

(2)

How to Solve for the Break-Even Point in Units

116

(1)

Break-Even Point in Sales Dollars

117

(1)

How to Calculate the Variable Cost Ratio and the Contribution Margin Ratio

117

(2)

How to Solve for the Break-Even Point in Sales Dollars

119

(1)

Units and Sales Dollars Needed to Achieve a Target Income

119

(3)

Units to Be Sold to Achieve a Target Income

119

(1)

How to Solve for the Number of Units to Be Sold to Earn a Target Operating Income

120

(1)

Sales Revenue to Achieve a Target Income

121

(1)

How to Solve for the Sales Needed to Earn a Target Operating Income

121

(1)

Graphs of CVP Relationships

122

(4)

The Profit-Volume Graph

122

(1)

The Cost-Volume-Profit Graph

123

(2)

Assumptions of Cost-Volume-Profit Analysis

125

(1)

Multiple-Product Analysis

126

(4)

Break-Even Point in Units

126

(2)

How to Calculate the Break-Even Units for a Multiple-Product Firm

128

(1)

Break-Even Point in Sales Dollars

129

(1)

How to Calculate the Break-Even Sales Dollars for a Multiple-Product Firm

129

(1)

CVP Analysis and Risk and Uncertainty

130

(24)

Introducing Risk and Uncertainty

132

(1)

How to Compute the Margin of Safety

133

(2)

How to Compute the Degree of Operating Leverage

135

(1)

How to Compute the Impact of Increased Sales on Operating Income Using the Degree of Operating Leverage

136

(1)

Sensitivity Analysis and CVP

137

(17)

Job-Order Costing

154

(46)

Characteristics of the Job-Order Environment

156

(2)

Job-Order Production and Costing

156

(1)

Process Production and Costing

156

(1)

Production Costs in Job-Order Costing

157

(1)

Normal Costing and Overhead Application

158

(8)

Actual Costing versus Normal Costing

158

(1)

Importance of Unit Costs to Manufacturing Firms

159

(1)

Importance of Unit Costs to Service Firms

159

(1)

Normal Costing and Estimating Overhead

160

(1)

Applying Overhead to Production

160

(1)

How to Calculate the Predetermined Overhead Rate and Apply Overhead to Production

161

(1)

Reconciling Applied Overhead with Actual Overhead

161

(1)

How to Reconcile Actual Overhead with Applied Overhead

162

(1)

Departmental Overhead Rates

163

(1)

How to Calculate Predetermined Departmental Overhead Rates and Apply Overhead to Production

164

(1)

How to Convert Departmental Data to Plantwide Data to Calculate the Overhead Rate and Apply Overhead to Production

165

(1)

Unit Costs in the Job-Order System

165

(1)

Keeping Track of Job Costs with Source Documents

166

(3)

Job-Order Cost Sheet

166

(1)

Materials Requisitions

167

(1)

Job Time Tickets

168

(1)

Other Source Documents

169

(1)

The Flow of Costs Through the Accounts

169

(10)

Accounting for Materials

169

(1)

Accounting for Direct Labor Cost

170

(1)

Accounting for Overhead

170

(1)

Accounting for Actual Overhead Costs

171

(1)

Accounting for Finished Goods

172

(1)

Accounting for Cost of Goods Sold

173

(2)

How to Prepare Brief Job-Order Cost Sheets

175

(1)

Accounting for Nonmanufacturing Costs

176

(3)

Appendix: Journal Entries Associated with Job-Order Costing

179

(21)

Process Costing

200

(44)

Characteristics of Process Manufacturing

202

(5)

Types of Processes

202

(2)

How Costs Flow Through the Accounts in Process Costing

204

(1)

How to Calculate Cost Flows without WIP

205

(1)

Accumulating Costs in the Production Report

206

(1)

Service and Manufacturing Firms

207

(1)

The Impact of Work-In-Process Inventories on Process Costing

207

(3)

Equivalent Units of Production

207

(1)

How to Calculate Equivalent Units of Production: No Beginning Work in Process

208

(1)

How to Measure Output and Assign Costs: No Beginning Work in Process

209

(1)

Two Methods of Treating Beginning Work-in-Process Inventory

209

(1)

Weighted Average Costing

210

(7)

Overview of the Weighted Average Method

210

(1)

How to Measure Output and Assign Costs: Weighted Average Method

211

(1)

Five Steps in Preparing a Production Report

212

(1)

How to Prepare a Physical Flow Schedule

213

(2)

Production Report

215

(1)

How to Prepare a Production Report: Weighted Average Method

215

(1)

Evaluation of the Weighted Average Method

216

(1)

Multiple Inputs and Multiple Departments

217

(5)

Nonuniform Application of Manufacturing Inputs

217

(1)

How to Calculate Equivalent Units, Unit Costs, and Value Inventories with Nonuniform Inputs

217

(1)

Multiple Departments

218

(2)

How to Calculate the Physical Flow Schedule, Equivalent Units, and Unit Costs with Transferred-In Goods

220

(2)

Appendix: Production Report---FIFO Costing

222

(22)

Differences between the FIFO and Weighted Average Methods

222

(1)

Example of the FIFO Method

223

(1)

How to Calculate Output and Cost Assignments: FIFO Method

223

(4)

How to Prepare a Production Report: FIFO Method

227

(17)

Activity-Based Costing and Management

244

(64)

Limitations of Functional-Based Cost Accounting Systems

246

(6)

Non-Unit-Related Overhead Costs

246

(1)

Product Diversity

247

(1)

An Example Illustrating the Failure of Unit-Based Overhead Rates

247

(2)

How to Calculate Consumption Ratios

249

(1)

How to Calculate Activity Rates

249

(2)

How to Calculate Activity-Based Unit Costs

251

(1)

Activity-Based Product Costing: Detailed Description

252

(6)

Identifying Activities and Their Attributes

252

(3)

Assigning Costs to Activities

255

(1)

How to Assign Resource Costs Using Direct Tracing and Resource Drivers

256

(1)

Assigning Cost to Products

256

(2)

Activity-Based Customer and Supplier Costing

258

(4)

Activity-Based Customer Costing

259

(1)

How to Calculate Activity-Based Customer Costs

259

(1)

Activity-Based Supplier Costing

260

(1)

How to Calculate Activity-Based Supplier Costs

261

(1)

Process-Value Analysis

262

(8)

Driver Analysis: The Search for Root Causes

262

(1)

Activity Analysis: Identifying and Assessing Value Content

263

(3)

How to Assess Non-Value-Added Costs

266

(1)

Activity Performance Measurement

267

(1)

How to Calculate Cycle Time and Velocity

267

(3)

Appendix: Quality and Environmental Costing

270

(4)

Quality Cost Management

270

(1)

Quality Defined

270

(1)

Costs of Quality Defined

271

(1)

Quality Cost Reports

272

(1)

How to Prepare a Quality Cost Report

272

(1)

Activity-Based Management and Optimal Quality Costs

273

(1)

Environmental Cost Management

274

(34)

The Benefits of Ecoefficiency

274

(1)

Environmental Quality Cost Model

275

(2)

Environmental Cost Report

277

(1)

Reducing Environmental Costs: More Activity-Based Management

278

(1)

How to Prepare an Environmental Cost Report

278

(2)

Assigning Environmental Costs

280

(1)

How to Calculate Activity-Based Environmental Product Costs

281

(27)

Profit Planning

308

(44)

Description of Budgeting

310

(2)

Budgeting and Planning and Control

310

(1)

Advantages of Budgeting

310

(2)

The Master Budget

312

(1)

Preparing the Operating Budget

312

(10)

Sales Budget

314

(1)

How to Prepare a Sales Budget

315

(1)

Production Budget

316

(1)

How to Prepare the Production Budget

316

(1)

Direct Materials Purchases Budget

317

(1)

How to Prepare a Direct Materials Purchases Budget

317

(1)

Direct Labor Budget

318

(1)

How to Prepare a Direct Labor Budget

319

(1)

Overhead Budget

319

(1)

How to Prepare an Overhead Budget

319

(1)

Ending Finished Goods Inventory Budget

320

(1)

How to Prepare the Ending Finished Goods Inventory Budget

320

(1)

Cost of Goods Sold Budget

320

(1)

How to Prepare a Cost of Goods Sold Budget

321

(1)

Selling and Administrative Expenses Budget

321

(1)

How to Prepare a Selling and Administrative Expenses Budget

321

(1)

Budgeted Income Statement

322

(1)

How to Prepare a Budgeted Income Statement

322

(1)

Preparing the Financial Budget

322

(6)

Cash Budget

323

(1)

How to Prepare a Cash Budget

324

(3)

Budgeted Balance Sheet

327

(1)

How to Prepare the Budgeted Balance Sheet

327

(1)

Using Budgets for Performance Evaluation

328

(24)

Frequent Feedback on Performance

329

(1)

Monetary and Nonmonetary Incentives

329

(1)

Participative Budgeting

329

(2)

Realistic Standards

331

(1)

Controllability of Costs

331

(1)

Multiple Measures of Performance

331

(21)

Standard Costing: A Managerial Control Tool

352

(46)

Unit Standards

354

(4)

How Standards Are Developed

354

(1)

Types of Standards

355

(1)

Why Standard Cost Systems Are Adopted

356

(2)

Standard Product Costs

358

(2)

How to Compute Standard Quantities Allowed (SQ and SH)

359

(1)

Variance Analysis: General Description

360

(4)

Price and Usage Variances

361

(1)

The Decision to Investigate

362

(1)

How to Use Control Limits to Trigger a Variance Investigation

363

(1)

Variance Analysis: Materials

364

(4)

How to Calculate the Total Variance for Materials

364

(1)

Direct Materials Variances

364

(2)

How to Calculate Materials Variances: Formula and Columnar Approaches

366

(1)

Using Materials Variance Information

366

(1)

Responsibility for the Materials Price Variance

367

(1)

Analysis of the Materials Price Variance

367

(1)

Responsibility for the Materials Usage Variance

367

(1)

Analysis of the Materials Usage Variance

367

(1)

Accounting and Disposition of Materials Variances

368

(1)

Variance Analysis: Direct Labor

368

(5)

How to Calculate the Total Variance for Labor

368

(1)

Direct Labor Variances

368

(1)

How to Calculate Labor Variances: Formula and Columnar Approaches

369

(1)

Using Labor Variance Information

369

(1)

Responsibility for the Labor Rate Variance

370

(1)

Responsibility for the Labor Efficiency Variance

370

(1)

Analysis of the Labor Efficiency Variance

370

(3)

Appendix 9A: Accounting for Variances

373

(1)

Entries for Direct Materials Variances

373

(1)

Entries for Direct Labor Variances

373

(1)

Disposition of Materials and Labor Variances

374

(1)

Appendix 9B: Kaizen and Target Costing

374

(24)

The Role of Kaizen Standards

374

(1)

How to Apply Kaizen Costing

375

(1)

The Role of Target Costing

376

(1)

How to Implement Target Costing

377

(21)

Flexible Budgets and Overhead Analysis

398

(38)

Using Budgets for Performance Evaluation

400

(5)

Static Budgets versus Flexible Budgets

400

(1)

How to Prepare a Performance Report based on a Static Budget (Using Budgeted Production)

401

(2)

How to Prepare a Flexible Production Budget

403

(1)

How to Prepare a Performance Report Using a Flexible Budget

404

(1)

Variable Overhead Analysis

405

(4)

Total Variable Overhead Variance

405

(1)

How to Calculate the Total Variable Overhead Variance

405

(1)

How to Calculate Variable Overhead Variances: Columnar and Formula Approaches

406

(1)

Comparison of the Spending Variance with the Price Variances of Materials and Labor

407

(1)

Responsibility for the Variable Overhead Spending Variance

407

(1)

Responsibility for the Variable Overhead Efficiency Variance

407

(1)

A Performance Report for the Variable Overhead Spending and Efficiency Variances

408

(1)

How to Prepare a Performance Report for the Variable Overhead Variances

408

(1)

Fixed Overhead Analysis

409

(3)

Total Fixed Overhead Variances

409

(1)

How to Calculate the Total Fixed Overhead Variance

410

(1)

How to Calculate Fixed Overhead Variances: Columnar and Formula Approaches

411

(1)

Responsibility for the Fixed Overhead Spending Variance

411

(1)

Analysis of the Fixed Overhead Spending Variance

412

(1)

Responsibility for the Fixed Overhead Volume Variance

412

(1)

Analysis of the Volume Variance

412

(1)

Activity-Based Budgeting

412

(24)

Static Activity Budgets

413

(1)

How to Prepare a Static Budget for an Activity

414

(1)

Activity Flexible Bedgeting

415

(1)

How to Prepare an Activity Flexible Budget

416

(1)

How to Prepare an Activity-Based Performance Report

417

(19)

Performance Evaluation, Variable Costing, and Decentralization

436

(56)

Decentralization and Responsibility Centers

438

(4)

Reasons for Decentralization

438

(2)

Divisions in the Decentralized Firm

440

(2)

Measuring the Performance of Profit Centers Using Variable and Absorption Income Statements

442

(6)

Inventory Valuation

443

(1)

How to Compute Inventory Cost Under Absorption and Variable Costing

444

(1)

Income Statements Using Variable and Absorption Costing

444

(1)

How to Prepare Income Statements Under Absorption and Variable Costing

445

(1)

Production, Sales, and Income Relationships

446

(1)

Evaluating Profit-Center Managers

446

(1)

Segmented Income Statements Using Variable Costing

447

(1)

How to Prepare a Segmented Income Statement

447

(1)

Measuring the Performance of Investment Centers Using ROI

448

(6)

Return on Investment

448

(1)

How to Calculate Average Operating Assets, Margin, Turnover, and ROI

449

(1)

Margin and Turnover

449

(1)

Advantages of ROI

450

(2)

Disadvantages of ROI Measure

452

(2)

Measuring the Performance of Investment Centers Using Residual Income and Economic Value Added

454

(3)

Residual Income

454

(1)

How to Calculate Residual Income

454

(2)

Economic Value Added (EVA)

456

(1)

How to Calculate EVA

457

(1)

Transfer Pricing

457

(8)

Impact of Transfer Pricing on Divisions and the Firm as a Whole

458

(1)

Transfer Pricing Policies

459

(2)

How to Calculate Transfer Prices

461

(4)

Appendix: The Balanced Scorecard: Basic Concepts

465

(3)

Strategy Translation

466

(2)

The Four Perspectives and Performance Measures

468

(24)

The Financial Perspective

468

(1)

Customer Perspective

469

(1)

Process Perspective

470

(2)

Cycle Time and Velocity

472

(1)

How to Compute Cycle Time and Velocity

472

(1)

Manufacturing Cycle Efficiency (MCE)

472

(1)

How to Calculate MCE

473

(1)

Learning and Growth Perspective

473

(19)

Short-Run Decision Making: Relevant Costing and Inventory Management

492

(48)

Short-Run Decision Making

494

(6)

The Decision-Making Model

494

(1)

Step 1: Define the Problem

495

(1)

Step 2: Identify the Alternatives

495

(1)

Step 3: Identify the Costs and Benefits Associated with Each Feasible Alternative

495

(1)

Step 4: Total the Relevant Costs and Benefits for Each Feasible Alternative

496

(1)

Step 5: Assess the Qualitative Factors

496

(1)

Step 6: Make the Decision

497

(1)

Ethics in Decision Making

497

(1)

Relevant Costs Defined

498

(1)

Cost Behavior and Relevant Costs

499

(1)

Some Common Relevant Cost Applications

500

(9)

Make-or-Buy Decisions

500

(1)

How to Structure a Make-or-Buy Problem

501

(2)

Special-Order Decisions

503

(1)

How to Structure a Special-Order Problem

504

(1)

Keep-or-Drop Decisions

505

(1)

How to Structure a Keep-or-Drop Product Line Problem

506

(1)

How to Structure a Keep-or-Drop Product Line Problem with Complementary Effects

506

(2)

Further Processing of Joint Products

508

(1)

How to Structure the Sell-or-Process-Further Decision

508

(1)

Product Mix Decisions

509

(3)

How to Determine the Optimal Product Mix with One Constrained Resource

510

(1)

How to Determine the Optimal Product Mix with One Constrained Resource and a Sales Constraint

511

(1)

Multiple Constrained Resources

511

(1)

The Use of Costs in Pricing Decisions

512

(2)

Cost-Based Pricing

512

(1)

How to Calculate Price by Applying a Markup Percentage to Cost

512

(1)

Target Costing and Pricing

513

(1)

How to Calculate a Target Cost

513

(1)

Decision Making for Inventory Management

514

(26)

Inventory-Related Costs

514

(1)

Economic Order Quantity: The Traditional Inventory Model

515

(1)

How to Calculate Ordering Cost, Carrying Cost, and Total Inventory-Related Cost

516

(1)

The Economic Order Quantity (EOQ)

516

(1)

How to Calculate the EOQ, Ordering Cost, Carrying Cost, and Total Inventory-Related Cost

517

(1)

EOQ and Inventory Management

517

(1)

Just-in-Time Approach to Inventory Management

517

(23)

Capital Investment Decisions

540

(42)

Types of Capital Investment Decisions

542

(1)

Nondiscounting Models

543

(4)

Payback Period

544

(1)

How to Calculate Payback

544

(2)

Accounting Rate of Return

546

(1)

How to Calculate the Accounting Rate of Return

546

(1)

Discounting Models: The Net Present Value Method

547

(2)

NPV Defined

547

(1)

An Example Illustrating Net Present Value

548

(1)

How to Assess Cash Flows and Calculate NPV

548

(1)

Internal Rate of Return

549

(2)

Example: Multiple-Period Setting with Uniform Cash Flows

549

(1)

How to Calculate IRR with Uniform Cash Flows

550

(1)

Multiple-Period Setting: Uneven Cash Flows

550

(1)

Postaudit of Capital Projects

551

(3)

Honley Medical Company: An Illustrative Application

551

(1)

One Year Later

552

(1)

Benefits of a Postaudit

553

(1)

Mutually Exclusive Projects

554

(8)

NPV Compared with IRR

554

(1)

Example: Mutually Exclusive Projects

555

(1)

How to Calculate NPV and IRR for Mutually Exclusive Projects

556

(1)

Special Considerations for the Advanced Manufacturing Environment

557

(5)

Appendix 13A: Present Value Concepts

562

(2)

Future Value

562

(1)

Present Value

562

(1)

Present Value of an Uneven Series of Cash Flows

563

(1)

Present Value of a Uniform Series of Cash Flows

563

(1)

Appendix 13B: Present Value Tables

564

(18)

Support Department Cost Allocation

582

(38)

An Overview of Cost Allocation

584

(4)

Types of Departments

584

(1)

Assigning Costs from Departments to Products

585

(1)

Types of Drivers

586

(1)

Objectives of Assigning Support Department Costs

587

(1)

Assigning Service Department Costs to Producing Departments

588

(5)

A Single Charging Rate

589

(1)

How to Calculate and Use a Single Charging Rate

590

(1)

Multiple Charging Rates

591

(1)

How to Calculate and Assign Service Costs Using Multiple Charging Rates

591

(1)

Assigning Budgeted versus Actual Service Costs

592

(1)

Choosing a Support Department Cost Allocation Method

593

(7)

Direct Method

593

(2)

How to Assign Support Department Costs Using the Direct Method

595

(1)

Sequential Method of Allocation

596

(2)

How to Assign Support Department Costs Using the Sequential Method

598

(1)

Reciprocal Method of Allocation

599

(1)

Departmental Overhead Rates and Product Costing

600

(20)

How to Calculate and Use Departmental Overhead Rates

600

(20)

Statement of Cash Flows

620

(34)

Overview of the Statement of Cash Flows

622

(2)

Cash Defined

622

(1)

Sources and Uses of Cash

622

(1)

How to Classify Activities and Identify Them as Sources or Uses of Cash

622

(2)

Noncash Exchanges

624

(1)

Methods for Calculating Operating Cash Flows

624

(1)

Preparation of the Statement: Indirect Method

624

(7)

Step One: Compute the Change in Cash Flow

625

(1)

How to Compute the Change in Cash Flow

625

(1)

Step Two: Compute Operating Cash Flows

626

(1)

How to Calculate Operating Cash Flows: Indirect Method

626

(2)

Step Three: Compute Investing Cash Flows

628

(1)

How to Compute Investing Cash Flows

628

(1)

Step Four: Cash Flows from Financing

629

(1)

How to Compute Financing Cash Flows

629

(1)

Step Five: Prepare the Statement of Cash Flows

630

(1)

How to Prepare the Statement of Cash Flows

630

(1)

The Direct Method: An Alternative Approach

631

(1)

How to Calculate Operating Cash Flows Using the Direct Method

631

(1)

Worksheet Approach to the Statement of Cash Flows

632

(22)

How to Prepare a Statement of Cash Flows Using a Worksheet Approach

632

(2)

Analysis of Transactions

634

(2)

The Final Step

636

(18)

Financial Statement Analysis

654

(37)

Common-Size Analysis

656

(3)

Horizontal Analysis

656

(1)

How to Prepare Common-Size Income Statements Using Base Period Horizontal Analysis

657

(1)

Vertical Analysis

657

(1)

How to Prepare Income Statements Using Net Sales as the Base: Vertical Analysis

658

(1)

Percentages and Size Effects

658

(1)

Ratio Analysis

659

(4)

Standards for Comparison

659

(2)

Classification of Ratios

661

(2)

Liquidity Ratios

663

(4)

Current Ratio

663

(1)

Quick or Acid-Test Ratio

663

(1)

How to Calculate the Current Ratio and the Quick (or Acid-Test) Ratio

664

(1)

Accounts Receivable Turnover Ratio

665

(1)

How to Calculate the Average Accounts Receivable, the Accounts Receivable Turnover Ratio, and the Accounts Receivable Turnover in Days

665

(1)

Inventory Turnover Ratio

666

(1)

How to Calculate the Average Inventory, the Inventory Ratio, and the Inventory Turnover in Days

666

(1)

Leverage Ratios

667

(2)

Times-Interest-Earned Ratio

667

(1)

How to Calculate the Times-Interest-Earned Ratio

667

(1)

Debt Ratio

668

(1)

How to Calculate the Debt Ratio and the Debt to Equity Ratio

668

(1)

Profitability Ratios

669

(22)

Return on Sales

669

(1)

How to Calculate the Return on Sales

669

(1)

Return on Total Assets

669

(1)

How to Calculate the Average Total Assets and the Return on Assets

670

(1)

Return on Common Stockholders' Equity

670

(1)

How to Calculate the Average Common Stockholders' Equity and the Return on Stockholders' Equity

670

(1)

Earnings per Share

671

(1)

How to Compute Earnings per Share

671

(1)

Price-Earnings Ratio

671

(1)

How tπo Compute the Price-Earnings Ratio

672

(1)

Dividend Yield and Payout Ratios

672

(1)

How to Compute the Dividend Yield and the Dividend Payout Ratio

672

(1)

Impact of the JIT Manufacturing Environment

673

(18)

Glossary

691

(8)

Check Figures

699

(6)

Subject Index

705

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Management Accounting The Cornerstone of Business Decisions

Summary

Table of Contents

Supplemental Materials