Product Description

KEY BENEFIT: Horngren’s Cost Accounting defined the cost accounting market and continues to innovate today by consistently integrating the most current practice and theory. This acclaimed, number one market-leading book embraces the basic theme of “different costs for different purposes.” It reaches beyond cost accounting procedures to consider concepts, analyses, and management. This latest edition of Cost Accounting incorporates the latest research and most up-to-date thinking into all relevant chapters.

KEY TOPICS: Professional issues related to Management Accounting and Management Accountants are emphasized. Chapter topics cover the accountant's role in the organization to performance measurement, compensation, and multinational considerations.

MARKET: For future accountants who want to enhance their understanding of—and ability to—solve cost accounting problems.

 

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Product Details

• Amazon Sales Rank: #40796 in Books
• Published on: 2008-03-14
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 896 pages

From the Publisher
This market leader continues the basic theme of all previous editions: "different costs for different purposes." Cost Accounting, Ninth Edition, goes beyond cost accounting procedures and also stresses concepts, analyses and using cost accounting as a management tool.

From the Back Cover
This acclaimed, number one market-leading book embraces the basic theme of “different costs for different purposes.” It reaches beyond cost accounting procedures to consider concepts, analyses, and management. Chapter topics cover: the accountant's role in the organization; an introduction to cost terms and purposes; cost-volume-profit analysis; job costing; activity-based costing and activity-based management; master budget and responsibility accounting; flexible budgets, variances, and management control; inventory costing and capacity analysis; determining how costs behave; decision making and relevant information; pricing decisions and cost management; strategy, balanced scorecard, and strategic profitability analysis; cost allocation, customer-profitability analysis, and sales-variance analysis; allocation of support department costs, common costs and revenues; cost allocation: joint products and byproducts; process costing; spoilage, rework, and scrap; quality, time, and the theory of constraints; inventory management, just-in-time, and backflush costing; capital budgeting and cost analysis; management control systems, transfer pricing, and multinational considerations; and performance measurement, compensation, and multinational considerations. For future accountant who want to enhance their understanding of—and ability to—solve cost accounting problems.

About the Author

Charles T. Horngren is the Edmund W. Littlefield Professor of Accounting, Emeritus, at Stanford University. A Graduate of Marquette University, he received his MBA from

Harvard University and his Ph.D. from the University of Chicago. He is also the recipient

of honorary doctorates from Marquette University and DePaul University.

A Certified Public Accountant, Horngren served on the Accounting Principles Board for six years, the Financial Accounting Standards Board Advisory Council for five years, and the Council of the American Institute of Certified Public Accountants for three years. For six years, he served as a trustee of the Financial Accounting Foundation, which oversees the Financial Accounting Standards Board and the Government Accounting Standards Board. Horngren is a member of the Accounting Hall of Fame.

A member of the American Accounting Association, he has been its President and its

Director of Research. He received its first annual Outstanding Accounting Educator Award. The California Certified Public Accountants Foundation gave Horngren its Faculty Excellence Award and its Distinguished Professor Award. He is the first person to have received both awards.

The American Institute of Certified Public Accountants presented its first Outstanding Educator Award to Horngren.

Horngren was named Accountant of the Year, Education, by the national professional accounting fraternity, Beta Alpha Psi.

Professor Horngren is also a member of the Institute of Management Accountants, from whom he received its Distinguished Service Award. He was also a member of the Institutes’ Board of Regents, which administers the Certified Management Accountant examinations.

Horngren is the author of other accounting books published by Prentice Hall:

Introduction to Management Accounting, 13th ed. (2005, with Sundem and Stratton);

Introduction to Financial Accounting, 9th ed. (2005, with Sundem and Elliott); Accounting, 6th ed. (2005, with Harrison and Bamber); and Financial Accounting, 6th ed. (2005, with Harrison).

Horngren is the Consulting Editor for the Charles T. Horngren Series in Accounting.

 

Srikant M. Datar is the Arthur Lowes Dickinson Professor of Business Administration

at Harvard University. A graduate with distinction from the University of Bombay, he

received gold medals upon graduation from the Indian Institute of Management,

Ahmedabad, and the Institute of Cost and Works Accountants of India. A Chartered

Accountant, he holds two masters degrees and a Ph.D. from Stanford University.

Cited by his students as a dedicated and innovative teacher, Datar received the George Leland Bach Award for Excellence in the Classroom at Carnegie Mellon University and the Distinguished Teaching Award at Stanford University.

Datar has published his research in various journals, including The Accounting Review, Contemporary Accounting Research, Journal of Accounting, Auditing and Finance, Journal of Accounting and Economics, Journal of Accounting Research, and Management Science. He has also served on the editorial board of several journals and presented his research to corporate executives and academic audiences in North America, South America, Asia, Africa, and Europe.

Datar is a member of the Board of Directors of Novartis A.G. and has worked with many organizations, including Apple Computer, AT&T, Boeing, British Columbia

Telecommunications, The Cooperative Bank, Du Pont, Ford, General Motors, Hewlett-

Packard, Kodak, Mellon Bank, PepsiCo, Solectron, Store 24, Stryker, TRW, Visa, and the World Bank. He is a member of the American Accounting Association and the Institute of Management Accountants.

 

George Foster is the Paul L. and Phyllis Wattis Professor of Management at Stanford

University. He graduated with a university medal from the University of Sydney and

has a Ph.D. from Stanford University. He has been awarded honorary doctorates from

the University of Ghent, Belgium, and from the University of Vaasa, Finland. He has

received the Outstanding Educator Award from the American Accounting Association.

Foster has received the Distinguished Teaching Award at Stanford University and

the Faculty Excellence Award from the California Society of Certified Public

Accountants. He has been a Visiting Professor to Mexico for the American Accounting

Association. Research awards Foster has received include the Competitive Manuscript

Competition Award of the American Accounting Association, the Notable Contribution

to Accounting Literature Award of the American Institute of Certified Public Accountants, and the Citation for Meritorious Contribution to Accounting Literature Award of the Australian Society of Accountants.

He is the author of Financial Statement Analysis, published by Prentice Hall. He is coauthor of Activity-Based Management Consortium Study (APQC and CAM-I) and Marketing, Cost Management and Management Accounting (CAM-I). He is also co-author of two monographs published by the American Accounting Association-Security Analyst Multi-Year Earnings Forecasts and The Capital Market and Market Microstructure and Capital Market Information Content Research. Journals publishing his articles include Abacus, The Accounting Review, Harvard Business Review, Journal of Accounting and Economics, Journal of Accounting Research, Journal of Cost Management, Journal of Management Accounting Research, Management Accounting, and Review of Accounting Studies.

Foster works actively with many companies, including Apple Computer, ARCO, BHP, Digital Equipment Corp., Exxon, Frito-Lay Corp., Hewlett-Packard, McDonalds Corp., Octel Communications, PepsiCo, Santa Fe Corp., and Wells Fargo. He also has worked closely with Computer Aided Manufacturing-International (CAM-I) in the development of a framework for modern cost management practices. Foster has presented seminars on new developments in cost accounting in North and South America, Asia, Australia, and Europe.

NEW Authors:

Madhav Rajan --

Madhav Rajan is the Gregor G. Peterson Professor of Accounting at the Graduate School of Business, Stanford University.  He is also Professor of Law (by courtesy) at Stanford Law School.  Madhav joined Stanford University in 2001 and, since 2002, has served as the area coordinator for Accounting at Stanford GSB.

 

Madhav received his undergraduate degree in Commerce from the University of Madras, India, and his MS in Accounting, MBA, and Ph.D degrees from the Graduate School of Industrial Administration at Carnegie Mellon University.  In 1990, his dissertation won the Alexander Henderson Award for Excellence in Economic Theory.  After completing his doctoral studies, Madhav joined the faculty of the Wharton School of the University of Pennsylvania and was promoted to the rank of tenured Associate Professor in 1996, and Professor in 2000.

           

Madhav’s primary area of research interest is the economics-based analysis of management accounting issues, especially as they relate to the choice of internal control and performance systems in firms.  His theoretical work has examined the optimal choice of information and incentive systems and the rationale behind observed internal accounting practices related to cost allocation and capital budgeting.  Madhav has also carried out empirical research, using both archival and field data, on the role of incentive systems, quality-based programs, and buyer-supplier relations.  In 2004, he received the Notable Contribution to Management Accounting Literature award for his work with Stan Baiman on “The Role of Information and Opportunism in the Choice of Buyer-Supplier Relationships.”

 

Madhav’s most recent work focuses on the internal control of multi-divisional firms.  Topics include the efficiency of auction markets at allocating resources across divisions and the usefulness of bonus pools as a means for incorporating subjective measures of managerial performance.  He is also currently involved in a research project that looks at whether and how accounting measures of performance can be used to infer the economic profitability of firms.

 

Madhav has served as an editor of The Accounting Review for the past six years.  He is an associate editor for both the Accounting and Operations areas for Management Science, and for the Journal of Accounting, Auditing and Finance.  He is a member of the Management Accounting section of the American Accounting Association and has twice been a plenary speaker at the AAA Management Accounting Conference.

 

Madhav has taught cou...

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Customer Reviews

Cost Accounting by Horngren
A strength of this book is that there are many color diagrams
throughout which illustrate/highlight the material. The treatment
of process cost accounting is thorough and highly simplified
with many detailed examples to illustrate the computation of
equivalent units. In process cost accounting, it is critical
to understand the physical flow of costs, as well as,
interdepartmental transfers and modified cost assumptions.
In addition, there is a thorough treatment of managerial
cost accounting in the areas of discounted cash flow, internal
rate of return, compounding, depreciation and cash flow,
net present value, uncertainty, inflation, capital budgeting,
payback and the accounting rate of return. Lastly, there is
a good treatment of decentralization and transfer pricing.
The book is worth the price of admission. Classic problems
from this text have been replicated on some form or another
on professional and collegiate standardized tests.
This work helps to support what is taught in a collegiate
finance course, as well as the cost accounting element.

The thrust of a cost accounting course is for the B or better
student. There is a fair amount of work in this course.
As such, it is geared for accounting, finance or economics
majors. Quantitatively oriented students will enjoy the presentation as well as a wide constituency of teachers
in academe. Even college administrators would find this
text useful for preparing budget schedules and interdepartmental
cost analyses. Engineering companies would
benefit by having a detailed analyses of process costing and
managerial accounting on individual construction jobs.

A standard text for cost accounting
If you are looking for a single volume "bible" on cost accounting, this is likely the best book in print today to fit that bill. It is comprehensive in scope yet has many strengths to ease comprehension and aid readability.

The topics are grouped in six main sections each with several chapters on that topic. Since it is unlikely that you will read this reference / text book left to right as you would a novel this organization helps in finding what you are looking for and focusing on the area(s) of interest.

There are many helpful illustrations and a good use of color as well as chapter summaries and all the exercises you could ever hope for.

A very excellent feature is the use of application problems that take you step-by-step through building an Excel spreadsheet. This is tremendously useful.

The web support is also a good help as well as the streaming video vignettes.

I honestly find this topic very interesting and the 11th edition of this book to be a very valuable resource.

Good starting book for Managerial Accounting
Clearly written. Although it assumes some basic knowledge about accounting, the writing technique is such that there is very little background knowledge that you have to go refresh yourself with in order to make sense of the new information. For a novice at accounting like me, this was easy to understand, with good examples and illustrations.