The distinction between direct and indirect costs is important because direct costs are directly traced to the cost object, whereas indirect costs are often pooled and then allocated to the cost object with less precision. Management, therefore, has more confidence in the accuracy of direct costs. Cost allocation is reserved for assigning indirect costs to cost objects. Cost objects include 1 activities or processes; 2 outputs of processes, such as products, services and projects; 3 parts of the organisation e. There is more to cost accounting than product costing.
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Horngren, Srikant M. Datar and Madhav V. Rajan This popular text offers clear and comprehensive coverage of management and cost accounting for students and professionals. The content has been significantly revised to reflect management accounting syllabuses across Europe.
Rich in examples and real-life applications, Management and Cost Accounting brings technical and theoretical concepts to life. The international focus of the text is supported by a wealth of case studies featuring companies from around the world, and all coverage is fully updated in line with recent research. Key Features Up-to-date coverage, including new sections on decision making in uncertainty, sustainable accounting, plus a discussion on the behavioural aspects of accounting Increased number of practice exercises and end-of-chapter questions provide opportunities to apply and develop techniques Wide-ranging European and Harvard Business School case studies that illustrate how management accounting applies in various contexts, locations and situations Concepts in Action and Surveys of Company Practice boxes show how accounting techniques are put into practice by managers in the business world Accessible step-by-step approach helps you master the subject one step at a time Join over 10 million students benefiting from Pearson MyLabs This title can be supported by MyAccountingLab, an online homework and tutorial system designed to test and build your understanding.
MyAccountingLab provides a personalised approach, with instant feedback and numerous additional resources to support your learning. Use the power of MyAccountingLab to accelerate your learning. Is your lecturer using MyAccountingLab? Has an access card been included with the book? Check the inside back cover of the book. Charles T. Horngren was the Edmund W. Littlefield Professor of Accounting at Stanford University. Srikant M. Madhav V. Rajan is the Robert K.
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