Process and Activity-Based Costing

Managerial and Cost Accounting
Review :
( 15 )
39 pages
Language:
 English
This book is the eleventh of fifteen books which introduces the basic principles of accounting.
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About the author

Larry M. Walther, Ph.D., CPA, CMA, is the Ernst & Young Professor and Head of the School of Accountancy at Utah State University. Dr. Walther has authored numerous accounting textbooks and articles, and has served as director and/or consultant to a number to a number of public and nonpublic companies...

Larry M. Walther, Ph.D., CPA, CMA, is the Ernst & Young Professor and Head of the School of Accountancy at Utah State University. Dr. Walther has authored numerous accounting textbooks and articles, and has served as director and/or consultant to a number to a number of public and nonpublic compa...

Description
Content
Reviews

This book is the eleventh of fifteen books which introduces the basic principles of accounting. In this book you will learn about process and activity-based costing. Key costing concepts include: cost flows, equivalent units, cost allocation to completed units and units in process, journal entries, identifying activities, determining traceable costs and allocation rates, and assigning costs based upon predetermined overhead rates.

  1. Process Costing and Activity-Based Costing
  2. Process Costing
    1. Process Costing
    2. Comparing Job and Process Costing
    3. Introduction to the Cost of Production Report
    4. Job Costing Flows
    5. Process Costing Flows
    6. Job Costing Flows on Job Cost Sheets
    7. Process Costing Flows on Cost of Production Reports
  3. Equivalent Units
    1. Factors of Production
    2. An Illustration of Equivalent Units Calculations
    3. Cost per Equivalent Unit
  4. Cost Allocation to Completed Units and Units in Process
    1. Cost of Production Report
    2. Journal Entries
    3. Subsequent Departments
    4. The Big Picture
    5. FIFO Process Costing
  5. Activity-Based Costing
    1. Pros of ABC
    2. Cons of ABC
    3. The Reality of ABC
    4. A Closer Look at ABC Concepts
    5. The Steps to Implement ABC
    6. A Simple Analogy
    7. A Case Study in ABC
    8. Study Process and Costs
    9. Identify Activities
    10. Determine Traceable Costs and Allocation Rates
    11. Assign Costs to Activities
    12. Determine Per-Activity Allocation Rates
    13. Apply Costs to Cost Objects
    14. What Just Happened?
    15. A Great Tool, But not a Panacea
    The book is a must have. Good job indeed.
    September 23, 2014 at 3:28 AM
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