Cost Management A Strategic Emphasis 9th Edition by Steven Smith 1264112333 9781264112333

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ISBN-10 :  1264112333 

ISBN-13 : 9781264112333

Author : Steven Smith 

Cost Management: A Strategic Emphasis

Cost Management: A Strategic Emphasis 9th Table of contents:

A Strategic Emphasis
Copyright
Dedication
Meet the Authors
Blocher/Juras/Smith
Letter to the Students:
Key Text Features That Integrate Strategy
Helping Students Succeed Using Cost Management, 9e
Connect
What’s New
Applying Tableau: Data Visualization Assignments
New! Integrated Excel
New! Text Hints
New! Guided Examples
Integration of Important Topics throughout the Text
Enhancing Features from Prior Releases
Remote Proctoring and Browser-Locking Capabilities
Evergreen
Polling
ReadAnywhere® App
TestBuilder in Connect
Enhancements for This Edition
Acknowledgments
Our Sincerest Thanks . . .
Reviewers of Past Releases:
Brief Contents
Contents
Chapter 1: Cost Management and Strategy
Part 1: Introduction to Strategy, Cost Management, and Cost Systems
Introduction
Management Accounting and the Role of Cost Management
The Four Functions of Management
Strategic Management and the Strategic Emphasis in Cost Management
Types of Organizations
The Contemporary Business Environment
The Global Business Environment
Lean Manufacturing
Use of Information Technology, the Internet, and Enterprise Resource Management
Focus on the Customer
Management Organization
Environmental, Social, and Governance (ESG) Considerations
The Strategic Focus of Cost Management
Contemporary Management Techniques: The Management Accountant’s Response to the Contemporary Business Environment
The Balanced Scorecard (BSC) and Strategy Map
The Value Chain
Activity-Based Costing and Management
Business Analytics
Target Costing
Life-Cycle Costing
Benchmarking
Business Process Improvement
Total Quality Management
Lean Accounting
The Theory of Constraints
Sustainability
Enterprise Risk Management
How a Firm Succeeds: The Competitive Strategy
Developing a Competitive Strategy
Cost Leadership
Differentiation
Other Strategic Issues
The Five Steps of Strategic Decision Making
The Professional Environment of Cost Management
Professional Organizations
Professional Certifications
Professional Ethics
Summary
Key Terms
Comments on Cost Management in Action
A Case in Competitive Strategy: Walmart and Target
Self-Study Problem
Strategy: An Ethical Issue
Questions
Brief Exercises
Exercises
Problems
Solution to Self-Study Problem
An Ethical Problem
Chapter 2: Implementing Strategy: The Value Chain, the Balanced Scorecard, and the Strategy Map
Introduction
Strengths-Weaknesses-Opportunities-Threats (SWOT) Analysis
Execution
Value-Chain Analysis
Value-Chain Analysis in Computer Manufacturing
The Five Steps of Strategic Decision Making for CIC Manufacturing
The Balanced Scorecard and Strategy Map
The Balanced Scorecard (BSC)
The Strategy Map
Sustainability: Expanding the Balanced Scorecard
Indicators of Concern about Sustainability
How Companies Have Responded
Sustainability Measures for the Balanced Scorecard
Summary
Key Terms
Comments on Cost Management in Action
Self-Study Problems
1. Value-Chain Analysis
2. SWOT Analysis
3. The Balanced Scorecard
Questions
Brief Exercises
Exercises
Problems
Solutions to Self-Study Problems
1. Value-Chain Analysis
2. SWOT Analysis
3. The Balanced Scorecard
Chapter 3: Basic Cost Management Concepts
Introduction
Costs, Cost Drivers, Cost Objects, and Cost Assignment
Cost Assignment and Cost Allocation: Direct and Indirect Costs
Cost Drivers and Cost Behavior
Activity-Based Cost Drivers
Volume-Based Cost Drivers
Structural and Executional Cost Drivers
The Five Steps of Strategic Decision Making for Procter & Gamble
Cost Concepts for Product and Service Costing
Product Costs and Period Costs
Manufacturing and Merchandising Costing
Attributes of Cost Information
Periodic and Perpetual Inventory Systems
Summary
Key Terms
Comments on Cost Management in Action
Cost per Bushel of Soybeans in the United States
Self-Study Problem
Questions
Brief Exercises
Exercises
Problems
Additional Information
Solution to Self-Study Problem
Chapter 4: Job Costing
Introduction
Costing Systems
Cost Accumulation: Job or Process Costing?
Cost Measurement: Actual, Normal, or Standard Costing?
Overhead Application under Normal Costing: Volume-Based or Activity-Based?
The Strategic Role of Costing
Job Costing: The Cost Flows
Direct and Indirect Materials Costs
Direct and Indirect Labor Costs
Factory Overhead Costs
The Application of Factory Overhead in Normal Costing
Cost Drivers for Factory Overhead Application
Applying Factory Overhead Costs
Departmental Overhead Rates
Disposition of Underapplied and Overapplied Overhead
Potential Errors in Overhead Application
Job Costing in Service Industries; Project Costing
Operation Costing
Summary
Appendix
Spoilage, Rework, and Scrap in Job Costing
Key Terms
Comments on Cost Management in Action
Is Job Costing a Match for Caterpillar’s Manufacturing Process?
Self-Study Problem
Journal Entries and Accounting for Overhead
Questions
Brief Exercises
Exercises
Problems
Solution to Self-Study Problem
Journal Entries and Accounting for Overhead
Chapter 5: Activity-Based Costing and Customer Profitability Analysis
Introduction
The Strategic Role of Activity-Based Costing
Role of Volume-Based Costing
Activity-Based Costing
Resources, Activities, Resource Consumption Cost Drivers, and Activity Consumption Cost Drivers
What Is Activity-Based Costing?
The Two-Stage Cost Assignment Procedure
Steps in Developing an Activity-Based Costing System
Step 1: Identify Resource Costs and Activities
Step 2: Assign Resource Costs to Activities
Step 3: Assign Activity Costs to Cost Objects
Benefits of Activity-Based Costing
A Comparison of Volume-Based and Activity-Based Costing
Volume-Based Costing
Activity-Based Costing
The Five Steps of Strategic Decision Making for Haymarket BioTech Inc.
Calculating the Cost of Idle Capacity in ABC
Activity-Based Management
What Is Activity-Based Management?
Activity Analysis
Value-Added Analysis
Real-World Activity-Based Costing/Management Applications
Customer Profitability Analysis
Customer Cost Analysis
Customer Profitability Analysis
Cost per Customer Acquired
Customer Lifetime Value
Implementation Issues and Extensions
Multistage Activity-Based Costing
Resource Consumption Accounting (RCA)
Time-Driven Activity-Based Costing (TDABC)
Summary
Key Terms
Comments on Cost Management in Action
Self-Study Problem
Questions
Brief Exercises
Exercises
Problems
Solution to Self-Study Problem
Volume-Based Costing versus ABC
Chapter 6: Process Costing
Introduction
Characteristics of Process Costing Systems
Equivalent Units
Flow of Costs in Process Costing
Steps in Process Costing (The Production Cost Report)
Process Costing Methods
Illustration of Process Costing
Weighted-Average Method
First-In, First-Out (FIFO) Method
Comparison of Weighted-Average and FIFO Methods
Process Costing with Multiple Departments
Transferred-in Costs
Weighted-Average Method
The FIFO Method
Journal Entries for Process Costing
Implementation and Enhancement of Process Costing
Activity-Based Costing and the Theory of Constraints
Just-in-Time Systems and Backflush Costing
Normal and Standard Process Costing
Summary
Appendix
Spoilage in Process Costing
Key Terms
Comments on Cost Management in Action
Self-Study Problems
Questions
Brief Exercises
Exercises
Problems
Solutions to Self-Study Problems
Chapter 7: Cost Allocation: Departments, Joint Products, and By-Products
Introduction
The Strategic Role and Objectives of Cost Allocation
The Ethical Issues of Cost Allocation
Cost Allocation to Service and Production Departments
First Phase: Trace Direct Costs and Allocate Indirect Costs to All Departments
Allocation in Second and Third Phases
Implementation Issues
Cost Allocation in Service Industries
Joint Product Costing
Methods for Allocating Joint Costs to Joint Products
Summary
Appendix
By-Product Costing
ASSET RECOGNITION METHODS
REVENUE METHODS
Key Terms
Comments on Cost Management in Action
Self-Study Problem
Questions
Brief Exercises
Exercises
Problems
Solution to Self-Study Problem
Joint Product Costing
Chapter 8: Cost Estimation
Planning and Decision Making
Introduction
Strategic Role of Cost Estimation
Using Cost Estimation to Predict Future Costs
Using Cost Estimation to Identify Cost Drivers
Six Steps of Cost Estimation
Step 1: Define the Cost Object
Step 2: Determine the Cost Drivers
Step 3: Collect Consistent and Accurate Data
Step 4: Graph the Data
Step 5: Select and Employ the Estimation Method
Step 6: Assess the Accuracy of the Cost Estimate
Cost Estimation Methods
An Illustration of Cost Estimation
High-Low Method
Regression Analysis
An Example: Using Regression to Estimate Maintenance Costs
A Second Example: Using Excel for Regression Analysis
Illustration of the Use of Regression Analysis in the Gaming Industry
The Five Steps of Strategic Decision Making for Caesars
Time-Series and Cross-Sectional Regression
Implementation Problems: Nonlinearity
Summary
Appendix
Learning Curve Analysis
EXAMPLE: LEARNING CURVES IN SOFTWARE DEVELOPMENT
WHAT DECISIONS ARE INFLUENCED BY LEARNING?
THE GENERAL FORM OF THE LEARNING MODEL
LIMITATIONS OF LEARNING CURVE ANALYSIS
Regression Analysis Supplement (online)
Key Terms
Comments on Cost Management in Action
Self-Study Problems
Questions
Brief Exercises
Exercises
Problems
Solutions to Self-Study Problems
Chapter 9: Short-Term Profit Planning: Cost-Volume-Profit (CVP) Analysis
Introduction
Cost-Volume-Profit Analysis
Contribution Margin and Contribution Income Statement
Strategic Role of CVP Analysis
CVP Analysis for Breakeven Planning
Breakeven in Units, Q
Breakeven in Dollars
Shortcut Formulas
CVP Graph and the Profit-Volume Graph
CVP Analysis for Profit Planning
Revenue Planning
Cost Planning
Including Income Taxes in CVP Analysis
CVP Analysis for Activity-Based Costing
Dealing with Uncertainty
What-If Analysis
Decision Tables/Decision Trees/Expected Value Analysis
Margin of Safety (MOS)
Operating Leverage
The Five Steps of Strategic Decision Making for CVP Analysis
CVP Analysis with Two or More Products/Services
Multiproduct Profit Planning Using the Weighted-Average Contribution Margin Ratio
Multiproduct Profit Planning Using the Weighted-Average Contribution Margin per Unit
Value Stream Accounting and CVP Analysis
CVP Analysis for Not-for-Profit Organizations
Assumptions and Limitations of Conventional CVP Analysis
Linearity, the Relevant Range, and Step Costs
Summary
Key Terms
Comments on Cost Management in Action
Managing Profitability under Different Cost Structures
Self-Study Problem
Questions
Brief Exercises
Exercises
Problems
Solution to Self-Study Problem
Chapter 10: Strategy and the Master Budget
Introduction
Role of Budgets
Strategy and the Master Budget
Importance of Strategy in Budgeting
Strategic Goals and Long-Term Objectives
Short-Term Objectives and the Master Budget
The Budgeting Process
Budget Committee
Budget Period
Budget Guidelines
Negotiation, Review, and Approval
Revision
Comprehensive Budgeting Example: Kerry Window Systems Inc.
The Five Steps of Strategic Decision Making for Kerry Window Systems Inc.
Master Budget
Sales Budget
Manufacturing Budgets
Merchandise Purchases Budget
Selling and Administrative Expense Budget
Cash Receipts (Collections) Budget
Cash Budget
Budgeted Income Statement
Budgeted Balance Sheet
Uncertainty and the Budgeting Process
What-If Analysis
Sensitivity Analysis
Scenario Analysis
Budgeting in Service Companies
Budgeting in Service Industries
Alternative Budgeting Approaches
Zero-Base Budgeting
Activity-Based Budgeting
Time-Driven Activity-Based Budgeting
Kaizen (Continuous-Improvement) Budgeting
Behavioral Issues in Budgeting
Budgetary Slack
Goal Congruence
Authoritative or Participative Budgeting?
Difficulty Level of the Budget Target
Linkage of Compensation and Budgeted Performance
Summary
Key Terms
Comments on Cost Management in Action
Self-Study Problems
Questions
Brief Exercises
Exercises
Problems
Solutions to Self-Study Problems
Chapter 11: Decision Making with a Strategic Emphasis
Introduction
The Five Steps of the Decision-Making Process
Relevant Cost Analysis
Relevant Cost Information
Batch-Level Cost Drivers
Depreciation Expense: Relevant or Not?
Other Relevant Information
Strategic Analysis
Special-Order Decisions
Relevant Cost Analysis
Strategic Analysis
Is TTS Operating at Full Capacity?
Excessive Relevant Cost Pricing
Other Important Strategic Factors
Value Stream Accounting and the Special-Order Decision
Make-vs.-Buy and Lease-vs.-Buy Decisions
Relevant Cost Analysis
Strategic Analysis
Decisions to Sell before or after Additional Processing
Relevant Cost Analysis
Strategic Analysis
Product- (or Service-) Line Profitability Analysis: Keep or Drop a Product (or Service) Line
Relevant Cost Analysis
Strategic Analysis
Profitability Analysis: Service Offerings of Not-for-Profit Organizations
Relevant Cost Analysis
Strategic Analysis
Constrained Optimization Analysis: Short-Term Product-Mix Decisions
Case 1: One Production Constraint
Case 2: Two or More Production Constraints
Behavioral and Implementation Issues: Consideration of Strategic Objectives
Consideration of Strategic Objectives
Predatory Pricing Practices
Replacement of Variable Costs with Fixed Costs
Proper Identification of Relevant Factors
Summary
Appendix
Linear Programming and the Product-Mix Decision
Key Terms
Comments on Cost Management in Action
Self-Study Problems
Questions
Brief Exercises
Exercises
Problems
Solutions to Self-Study Problems
Chapter 12: Strategy and the Analysis of Capital Investments
Introduction
Strategy and the Analysis of Capital Expenditures
The Nature of Capital Expenditures
Recent Developments in Capital Investment: Economic Uncertainty and COVID-19
Strategic Analysis
The Role of Accounting in the Capital Budgeting Process
Linkage to the Master Budget
Linkage to Strategy and the Balanced Scorecard
Generation of Relevant Financial Data for Decision-Making Purposes
Conducting Post Audits
The Five Steps of Strategic Decision Making: Cost-Benefit Analysis of a Proposed Hospital Bar-Code Technology Investment4
Identification of Relevant Cash Flow Data for Capital Investment Analysis
Why Focus on Cash Flows and the Timing of These Cash Flows?
Cash Flows—A Framework for Analysis
Sample Data Set: Mendoza Company—Equipment-Purchase Decision
Determining After-Tax Cash Flows for Capital Investment Analysis
Recap—After-Tax Cash Flow Information for the Mendoza Company Investment Proposal
Discounted Cash Flow Capital Budgeting Decision Models
Types of Capital Budgeting Decision Models
DCF Models: Specifying the Discount Rate
Estimating the WACC
Net Present Value Decision Model
Internal Rate of Return Decision Model
The Modified Internal Rate of Return
Comparison of NPV and IRR Methods: Which to Use?
Uncertainty and the Capital Budgeting Process
Sensitivity Analysis
Real Options
Other Capital Budgeting Decision Models
Payback Period
Accounting (Book) Rate of Return
Behavioral Issues in Capital Budgeting
Common Behavioral Problems: Cost Escalation, Incrementalism, and Uncertainty Intolerance
Goal Congruence Issues
Addressing the Goal Congruence Problem
Summary
Appendix A
Structuring an Asset Replacement Decision Problem—Spreadsheet Templates
Appendix B
DCF Models: Some Advanced Considerations
Appendix C
Present Value Tables
Key Terms
Comments on Cost Management in Action
Self-Study Problem
Questions
Brief Exercises
Exercises
Problems
Solution to Self-Study Problem
Alternative Solutions: Using an Excel Spreadsheet
Chapter 13: Cost Planning for the Product Life Cycle: Target Costing, Theory of Constraints, and Strategic Pricing
Introduction
Target Costing
Value Engineering
Target Costing and Kaizen
An Illustration: Target Costing in Health Product Manufacturing
An Illustration Using Quality Function Deployment
Benefits of Target Costing
The Theory of Constraints
The Use of the Theory of Constraints in Health Product Manufacturing
Steps in the Theory of Constraints Analysis
The Five Steps of Strategic Decision Making for Speed and Efficiency in the Fashion Industry
Theory of Constraints Reports
Activity-Based Costing and the Theory of Constraints
Life-Cycle Costing
The Importance of Design
Strategic Pricing Using the Product Life Cycle
Pricing Using the Cost Life Cycle
Strategic Pricing for Phases of the Sales Life Cycle
Strategic Pricing: Analytical and Peak Pricing Methods
Summary
Key Terms
Comments on Cost Management in Action
Self-Study Problem
Questions
Brief Exercises
Exercises
Problems
Solutions to Self-Study Problem
Chapter 14: Operational Performance Measurement: Sales, Direct Cost Variances, and the Role of Nonfinancial Performance Measures
Operational-Level Control
Introduction
The Schmidt Machinery Company
Management Accounting and Control Systems
Developing an Operational Control System: The Five Steps of Strategic Decision Making for Schmidt Machinery
Short-Term Financial Control
Flexible Budgets and Profit-Variance Analysis
The Flexible Budget
Sales Volume Variance and the Flexible Budget Variances
Further Analysis of the Direct Materials Flexible Budget Variance
Standard Costs
Standard Costs vs. a Standard Cost System
Types of Standards
Standard-Setting Procedures
Establishing Standard Costs
Recording Cost Flows and Variances in a Standard Cost System
Direct Materials Cost
Direct Labor Cost
Application of Standard Factory Overhead Costs
Completion of Production
The Strategic Role of Nonfinancial Performance Indicators
Limitations of Short-Term Financial Control
Business Processes
Operating Processes
Just-in-Time Manufacturing
Summary
Key Terms
Comments on Cost Management in Action
Self-Study Problems
Questions
Brief Exercises
Exercises
Problems
Solutions to Self-Study Problems
Chapter 15: Operational Performance Measurement: Indirect Cost Variances and Resource Capacity Management
Introduction
Standard Overhead Costs: Planning vs. Control
Variance Analysis for Factory (Manufacturing) Overhead Costs
Variable Overhead Cost Analysis
Interpretation and Implications of Variable Overhead Variances
Fixed Overhead Cost Analysis
Interpretation of Fixed Overhead Variances
Alternative Analyses of Overhead Variances
Summary of Overhead Variances
Supplementing Financial Results with Nonfinancial Performance Indicators
Recording Standard Overhead Costs
Journal Entries and Variances for Overhead Costs
End-of-Period Disposition of Variances
Variance Disposition
The Effects of Denominator Level Choice on Full Costing Income
Standard Costs in Service Organizations
Overhead Cost Variances in Traditional ABC Systems
ABC-Based Flexible Budgets for Control
Flexible Budget Analysis under Traditional ABC When There Is a Standard Batch Size for Production Activity
Extension of ABC Analysis: GPK and RCA
Investigation of Variances
Causes and Controllability
Role of Control Charts
Summary
Variance Investigation under Uncertainty Supplement (online)
Key Terms
Comments on Cost Management in Action
Self-Study Problem
Questions
Brief Exercises
Exercises
Problems
Solution to Self-Study Problem
Chapter 16: Operational Performance Measurement: Further Analysis of Productivity and Sales
Introduction
The Strategic Role of the Flexible Budget in Analyzing Productivity and Sales
Analyzing Productivity
Partial Productivity
Total Productivity
Analyzing Sales: Comparison with the Master Budget
Sales Volume Variance Partitioned into Sales Quantity and Sales Mix Variances
Sales Quantity Variance Partitioned into Market Size and Market Share Variances
The Five Steps of Strategic Decision Making for Schmidt Machinery
Analyzing Sales: Comparison with Prior Period Results
Analysis of Selling Price and Volume Variances
Analysis of Mix and Quantity Variances
Analysis of Variable Cost Variances
Summary
Key Terms
Comments on Cost Management in Action
Self-Study Problems
Questions
Brief Exercises
Exercises
Problems
Solutions to Self-Study Problems
Chapter 17: The Management and Control of Quality
Introduction
The Strategic Importance of Quality
Baldrige Quality Award
ISO 9000 and ISO 14000
Quality and Profitability: A Conceptual Linkage
Accounting’s Role in the Management and Control of Quality
The Five Steps of Strategic Decision Making: Improving Quality in Pharmaceutical and Medical Product Companies1
Comprehensive Framework for Managing and Controlling Quality
The Meaning of Quality
Knowledge of Business Processes
Role of the Customer
Financial Component
Nonfinancial Performance Indicators
Feedback Loops
Relevant Cost Analysis of Quality-Related Spending and Investments
Link to Operations Management and Statistics
Breadth of the System
Alternative Approaches to Setting Quality-Related Expectations
Setting Quality Expectations: A Six Sigma Approach
Setting Quality Expectations: Goalpost vs. Absolute Conformance Standards
Taguchi Quality Loss Function (QLF)
Financial Measures and Cost of Quality
Relevant Cost Analysis for Decision Making
Cost of Quality (COQ) Reporting
COQ Reports
Cost of Quality (COQ) and Activity-Based Costing
Nonfinancial Quality Indicators
Internal Nonfinancial Quality Metrics
External (Customer Satisfaction) Quality Metrics
Role of Nonfinancial Performance Measures
Detecting and Correcting Poor Quality
Detecting Poor Quality
Taking Corrective Action
Lean Manufacturing and Accounting for “Lean”
Lean Manufacturing
Accounting for Lean
The Strategic Role of Lean Accounting
Summary
Key Terms
Comments on Cost Management in Action
Self-Study Problems
Questions
Brief Exercises
Exercises
Problems
Solutions to Self-Study Problems
Chapter 18: Strategic Performance Measurement: Cost Centers, Profit Centers, and the Balanced Scorecard
Management-Level Control
Introduction
Performance Measurement and Control
Operational Control vs. Management Control
Objectives of Management Control
Employment Contracts
Design of Management Control Systems for Motivation and Evaluation
Informal Control Systems
Formal Control Systems
Strategic Performance Measurement
Decentralization
Types of Strategic Business Units
The Balanced Scorecard
Cost Centers
Strategic Issues Related to Implementing Cost Centers
Implementing Cost Centers in Departments
Outsourcing or Consolidating Cost Centers
Cost Allocation
Revenue Centers
Profit Centers
Strategic Role of Profit Centers
The Contribution Income Statement
Variable Costing vs. Full Costing for Evaluating Profit Centers
Strategic Performance Measurement and the Balanced Scorecard
Implementing the Balanced Scorecard and the Strategy Map for Performance Evaluation
Implementing Strategy Using the Balanced Scorecard
Management Control in Service Firms and Not-for-Profit Organizations
Summary
Key Terms
Comments on Cost Management in Action
Self-Study Problem
Questions
Brief Exercises
Exercises
Problems
Solution to Self-Study Problem
Chapter 19: Strategic Performance Measurement: Investment Centers and Transfer Pricing
Introduction
Five Steps in the Evaluation of the Financial Performance of Investment Centers in an Organization
Part One: Financial Performance Indicators for Investment Centers
Return on Investment
Return on Investment Equals Return on Sales Times Asset Turnover (ROI = ROS × AT)3
Illustration of Short-Term Financial Performance Evaluation Using ROI
Return on Investment: Measurement Issues
Strategic Issues Regarding the Use of ROI
Residual Income
Time Period of Analysis: Single vs. Multiperiod Perspective
Limitations of Residual Income
Economic Value Added
Estimating EVA®
Alternative Approaches to Estimating EVA® NOPAT and EVA® Capital
Using Average Total Assets
Part Two: Transfer Pricing
When Is Transfer Pricing Important?
Objectives of Transfer Pricing
Transfer-Pricing Methods
Choosing the Right Transfer Pricing Method: The Firmwide Perspective
General Transfer Pricing Rule
International Issues in Transfer Pricing
Income Tax Planning Opportunities: International Transfer Pricing
Other International Considerations
Advance Pricing Agreements
Summary
Key Terms
Comments on Cost Management in Action
Self-Study Problems
Questions
Brief Exercises
Exercises
Problems
Solutions to Self-Study Problems
Chapter 20: Management Compensation, Business Analysis, and Business Valuation
Introduction
Part One: The Strategic Role of Management Compensation
Types of Management Compensation
Strategic Role and Objectives of Management Compensation
Designing Compensation for Existing Strategic Conditions
Risk Aversion and Management Compensation
Ethical Issues
Objectives of Management Compensation
Bonus Plans
Bases for Bonus Compensation
Bonus Compensation Pools
Bonus Payment Options
Tax Planning and Financial Reporting
Management Compensation in Service Firms
Part Two: Business Analysis and Business Valuation
Business Analysis
The Balanced Scorecard
Financial Ratio Analysis
Business Valuation
The Discounted Cash Flow Method
Multiples-Based Valuation
Enterprise Value
An Illustration of the Five Steps of Strategic Decision Making in the Valuation of a Fashion Retailer
Summary
Key Terms
Comments on Cost Management in Action
Self-Study Problems
Questions
Brief Exercises
Exercises
Problems
Solutions to Self-Study Problems
Chapter 8 Online Supplement: Regression Analysis Supplement
Chapter 8 Online Supplement: Regression Analysis Supplement
The Regression Estimate
Statistical Measures
Chapter 15 Online Supplement: Variance Investigation Decisions Under Uncertainty
Chapter 15 Online Supplement: Variance Investigation Decisions under Uncertainty
Variance Investigation Decisions under Uncertainty
Self-Study Problem: Variance Investigation Under Uncertainty

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