COST ACCOUNTING FOR DUMMIES BY KENNETH BOYD

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COST ACCOUNTING FOR DUMMIES BY

KENNETH BOYD

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COST ACCOUNTING FOR DUMMIES BY KENNETH BOYD

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COST ACCOUNTING FOR DUMMIES BY KENNETH BOYD

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From the Back Cover

Learn to:

Master important cost accounting concepts

Apply your skills with real-world examples

Score your highest in a cost accounting course

Get a grip on cost accounting? Easy.

Cost Accounting For Dummies tracks to a typical cost accounting course and provides in-depth explanations and reviews of the essential concepts you'll encounter in your studies: how to define costs as direct materials, direct labor, fixed overhead, variable overhead, or period costs; how to use allocation methodology to assign costs to products and services; how to evaluate the need for capital expenditures; how to design a budget model that forecasts changes in costs based on expected activity levels; and more.

Cost Accounting 101 — find out how cost accounting relates to other areas of accounting, which types of

costs are most important, and step-by-step explanations on cost-volume-profit and activity-based costing Plan for it — take a stroll through the budgeting process, analyze the differences between your budget and

actual results using variances, and get the lowdown on overhead costs

Make good decisions — get the scoop on cost drivers — and how they determine product price — to make

good decisions in running a business

Take action — discover how to allocate costs, analyze business profitability, use shared resources, and

more

Open the book and find:

Cost accounting terms and their purposes

How to use cost-volume-profit analysis

The hows and whats of activity-based costing

Why budgeting is important

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The concept of relevance in cost accounting

Considerations for process costing

How to search for measures of quality

About the Author

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COST ACCOUNTING FOR DUMMIES BY KENNETH BOYD

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COST ACCOUNTING FOR DUMMIES BY KENNETH BOYD

PDF

The easy way to get a grip on cost accounting

Critical in supporting strategic business decisions and improving profitability, cost accounting is arguably one of the most important functions in the accounting field. For business students, cost accounting is a required course for those seeking an accounting degree and is a popular elective among other business majors.

Cost Accounting For Dummies tracks to a typical cost accounting course and provides in-depth explanations and reviews of the essential concepts you'll encounter in your studies: how to define costs as direct materials, direct labor, fixed overhead, variable overhead, or period costs; how to use allocation methodology to assign costs to products and services; how to evaluate the need for capital expenditures; how to design a budget model that forecast changes in costs based on expected activity levels; and much more.

Tracks to a typical cost accounting course

Includes practical, real-world examples

Walks you though homework problems with detailed, easy-to-understand answers

If you're currently enrolled in a cost accounting course, this hands-on, friendly guide gives you everything you need to master this critical aspect of accounting.

Sales Rank: #113340 in Books

Dimensions: 9.20" h x .88" w x 7.40" l, 1.29 pounds

Master important cost accounting concepts

Apply your skills with real-world examples

Score your highest in a cost accounting course

Get a grip on cost accounting? Easy.

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costs to products and services; how to evaluate the need for capital expenditures; how to design a budget model that forecasts changes in costs based on expected activity levels; and more.

Cost Accounting 101 — find out how cost accounting relates to other areas of accounting, which types of

costs are most important, and step-by-step explanations on cost-volume-profit and activity-based costing Plan for it — take a stroll through the budgeting process, analyze the differences between your budget and

actual results using variances, and get the lowdown on overhead costs

Make good decisions — get the scoop on cost drivers — and how they determine product price — to make

good decisions in running a business

Take action — discover how to allocate costs, analyze business profitability, use shared resources, and

more

Open the book and find:

Cost accounting terms and their purposes

How to use cost-volume-profit analysis

The hows and whats of activity-based costing

Why budgeting is important

The concept of relevance in cost accounting

Considerations for process costing

How to search for measures of quality

About the Author

Ken Boyd is a former CPA with over 27 years of experience in accounting, education, and financial services. Ken is the owner of St. Louis Test Preparation (www.stltest.net). He provides online tutoring in accounting and finance to both undergraduate and graduate students.

Most helpful customer reviews

5 of 5 people found the following review helpful. Excellent book!

By Barry Schoenborn

What a difference this book makes! I've been in business over 25 years, but didn't have any real understanding of cost accounting. This book makes everything much clearer. I learned things I should have grasped years ago.

It's well written, with lots of detail. And, because it's a For Dummies book, you can count on a direct, simple approach to all topics, and a lot of light moments. I own about 20 For Dummies books and I'm never disappointed.

Whether you're in manufacturing, retail, or service, this is a good book for you.

4 of 4 people found the following review helpful.

This is an excellent progressive reference for anyone considering taking a cost accounting course ... By Deb

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treated as a simple brush-up reference as there is an excellent reference in the back of the book. I always appreciate a decent reference because if I'm searching for a narrow topic within a larger context I simply don't have the inclination to read an entire chapter to find it. If something escapes you about fixed overhead costs, there are seventeen topics broken out for you to examine.

There are a few assumptions or prerequisites you will need to consider before delving into this material. Most are motivational factors, but you will need to have a grounding in basic arithmetic and algebra. This is probably a given in any accounting text, but not to worry, there are no deep mathematical models to pore over. Take for example this formula on "Implementing variance analysis":

Variable overhead spending variance = ($2.11 - $1.80) x (18,000)

Variable overhead spending variance = $5,580

There are also numerous informative sidebars and tables to reference. Some material can be skipped and read at your leisure at another time and those sidebars qualify. You'll find several icons in this book that point out tips, things you'll want to remember, technical stuff, and offer up a few cautionary notes. Each chapter is prefaced by bullet points outlining what is in the chapter and a brief commentary and overview of it. This is an excellent reference that will help anyone out who is currently taking a cost accounting course or plans to in the future. The material is clear, concise, and very user-friendly.

Part I: Understanding the Fundamentals of Costs

Chapter 1: So You Want to Know about Cost Accounting Chapter 2: Brushing Up on Cost Accounting Basics

Chapter 3: Using Cost-Volume-Profit Analysis to Plan Your Business Results Chapter 4: Estimating Costs with Job Costing

Chapter 5: More Activity, More Cost: Activity-Based Costing

Part II: Planning and Control

Chapter 6: What's the Plan, Stan? Budgeting for a Better Bottom Line Chapter 7: Constant Change: Variance Analysis

Chapter 8: Focusing on Overhead Costs

Chapter 9: What's on the Shelf? Inventory Costing

Part III: Making Decisions

Chapter 10: Cost Drivers and Cost Estimation Methods

Chapter 11: Making Smart Business Decisions with Relevant Information Chapter 12: Making Smart Pricing Decisions: Figuring Total Costs

Part IV: Allocating Costs and Resources

Chapter 13: Analysis Methods to Improve Profitability

Chapter 14: Behind the Scenes: Accounting for Support Costs and Common Costs Chapter 15: Joint Costs, Separable Costs, and Using Up the Leftovers

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Part V: Considering Quality Issues

Chapter 17: What a Waste! Getting the Most from Spoilage, Scrap, and Reworked Products Chapter 18: Making Smart Ordering Decisions

Chapter 19: Quality: Building a Better Mousetrap

Part VI: The Part of Tens

Chapter 20: Ten Common Costing Mistakes and How to Avoid Them Chapter 21: Ten Ways to Increase Profits Using Costing

Index

4 of 4 people found the following review helpful. Great introduction to Cost Accounting

By Hoppaguy

I have a finance background and my accounting experience geared more towards the financial reporting side. For my current job, I had to learn some basic cost accounting concepts and read a couple of books on the subject. I like Dummies books in general and this one did not fail me in that it was the most understandable of all of the books that I read. The beginning of the book covers topics such as direct and indirect costs but then goes into more advanced cost accounting concepts such as job costing and activity based costing which there are whole textbooks dedicated to these topics. These 2 concepts were the main reason why I got this book and I was satisfied that I had a pretty good understanding after reading these sections. The rest of the book goes onto inventory costing and other planning and control concepts related to cost accounting.

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COST ACCOUNTING FOR DUMMIES BY KENNETH BOYD

PDF

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From the Back Cover

Learn to:

Master important cost accounting concepts

Apply your skills with real-world examples

Score your highest in a cost accounting course

Get a grip on cost accounting? Easy.

Cost Accounting For Dummies tracks to a typical cost accounting course and provides in-depth explanations and reviews of the essential concepts you'll encounter in your studies: how to define costs as direct materials, direct labor, fixed overhead, variable overhead, or period costs; how to use allocation methodology to assign costs to products and services; how to evaluate the need for capital expenditures; how to design a budget model that forecasts changes in costs based on expected activity levels; and more.

Cost Accounting 101 — find out how cost accounting relates to other areas of accounting, which types of

costs are most important, and step-by-step explanations on cost-volume-profit and activity-based costing Plan for it — take a stroll through the budgeting process, analyze the differences between your budget and

actual results using variances, and get the lowdown on overhead costs

Make good decisions — get the scoop on cost drivers — and how they determine product price — to make

good decisions in running a business

Take action — discover how to allocate costs, analyze business profitability, use shared resources, and

more

Open the book and find:

Cost accounting terms and their purposes

How to use cost-volume-profit analysis

The hows and whats of activity-based costing

Why budgeting is important

The concept of relevance in cost accounting

Considerations for process costing

How to search for measures of quality

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About the Author

Ken Boyd is a former CPA with over 27 years of experience in accounting, education, and financial services. Ken is the owner of St. Louis Test Preparation (www.stltest.net). He provides online tutoring in accounting and finance to both undergraduate and graduate students.

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