Cost Accounting For Dummies, 2ed
Description
Cost Accounting For Dummies 2e will track to an entry-level college cost accounting course. It is the perfect resource for accounting students who need a little extra Dummies knowledge to pass their class. Learn the difference between fixed and variable costs. Answer practice questions. Read real-world examples to get the best understanding of various aspects of this specialty. With help from Dummies, it's never been easier to create a budget for all your business's costs.
Table of Contents
Introduction
About This Book
Foolish Assumptions
Icons Used in This Book
Beyond the Book
Where to Go from Here
Part 1: Understanding the Fundamentals of Costs
Chapter 1: So You Want to Know about Cost Accounting
- Comparing Accounting Methods
- Considering your shareholders
- Mulling over creditors
- Addressing concerns of regulators
- Using management accounting
- Fitting in cost accounting
- Using Cost Accounting to Your Advantage
- Starting with cost-benefit analysis
- Planning your work: Budgeting
- Controlling your costs
- Setting a price
- Improving going forward
Chapter 2: Brushing Up on Cost Accounting Basics
- Understanding the Big Four Terms
- Comparing direct and indirect costs
- Mulling over fixed and variable costs
- Fitting the costs together
- Covering Costs in Different Industries
- Reviewing manufacturing costs
- Considering costs for retailers
- Adding up costs for e-commerce firms
- Finding costs most companies incur
- Why Are You Spending? Cost Drivers
- Pushing equipment too hard and relevant range
- Previewing inventoriable costs
- Following the Rules of the Cost Accounting Road
- Understanding generally accepted accounting principles (GAAP)
- Deciding on accrual basis or cash basis
- Finishing with conservatism
Chapter 3: Using Cost-Volume-Profit Analysis to Plan Your Business Results
- Understanding How Cost-Volume-Profit Analysis Works
- Calculating the breakeven point
- Financial losses: The crash of your cash
- Contribution margin: Covering fixed costs
- Lowering the breakeven point to reach profitability sooner
- Target net income: Setting the profit goal
- Using operating leverage
- Assessing e-commerce businesses
- Timing is everything when it comes to costs
- Using Cost-Volume-Profit Analysis to Make Savvy Business Decisions
- Deciding to advertise
- Lowering your price without losing your profit
- Combining the results of two products
- Costing and pricing a new product
- The Tax Man Cometh