Direct materials cost the cost of direct materials which can be easily identified with the unit of production. For example, the cost of glass is a direct materials cost in light bulb manufacturing. The manufacture of products or goods required material as the prime element. In general, these materials are divided into two. Core Concepts of Accounting, 2nd Edition. ISBN: 978-0-470-49947-4. Select type: Paperback. Paperback $123.95. COMPONENTS OF PRODUCT COST FOR MANUFACTURING COMPANIES. Direct Material Cost. Direct Labor Cost. Overhead Cost. INVENTORY COSTING.

Act_3395_tdwa.doc - To show students the importance of cost accounting information for business success in the global economy The course. Kinney, Michael R. And Cecily A. Download our cost accounting kinney raiborn solutions eBooks for free and learn more about cost accounting kinney raiborn solutions. These books contain exercises and tutorials to improve your practical skills, at all levels!

• Aland Islands • Albania • Andorra • Armenia • Austria • Azerbaijan • Belarus • Belgium • Bosnia and Herzegovina • Bulgaria • Croatia • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Georgia • Germany • Gibraltar • Greece • Greenland • Holy See (Vatican City State) • Hungary • Iceland • Ireland • Italy • Latvia • Liechtenstein • Lithuania • Luxembourg • Macedonia • Malta • Moldova • Monaco • Montenegro • Netherlands • Norway • Poland • Portugal • Romania • Russia • Serbia • Slovakia • Slovenia • Spain • Sweden • Switzerland • Turkey • Ukraine • United Kingdom. • American Samoa • Australia • Bangladesh • Bhutan • British Indian Ocean Territory • Brunei • Cambodia • China • Christmas Island • Cocos (Keeling) Islands • Cook Islands • Fiji • Guam • Hong Kong • India • Indonesia • Japan • Kazakhstan • Korea (the Republic of) • Kyrgyzstan • Laos • Macao • Malaysia • Maldives • Mongolia • Myanmar • Nepal • New Zealand • Pakistan • Papua New Guinea • Philippines • Samoa • Singapore • Solomon Islands • Sri Lanka • Taiwan • Tajikistan • Thailand • Timor-Leste • Tonga • Turkmenistan • Uzbekistan • Vanuatu • Vietnam. Description Core Concepts of Accountingis designed for use in a one-semester, introductory survey of accounting class, providing the basics of both financial and managerial accounting. Financial accounting provides primarily monetary information about business activities that result in the financial statements that are published for use by people outside the business. Managerial accounting provides monetary and nonmonetary information about business activities that result in supporting details for the financial statements; it also provides information for internal organizational users to plan, control, or make decisions about operations. Core Concepts of Accountingprovides a balanced approach to the conceptual and technical aspects of advanced accounting. About the Author.

PART I ACCOUNTING FUNDAMENTALS. 1 An Introduction to the Role of Accounting in the Business World. MAJOR TYPES OF BUSINESS ENTITIES. Common Legal Forms of Business Organizations. Internal Functions of Business Organizations. THE NATURE AND ROLE OF ACCOUNTING IN BUSINESS. Internal Decision Makers.

External Decision Makers. FINANCIAL STATEMENT DEFINITIONS. Balance Sheet. Income Statement. Statement of Cash Flows. Statement of Stockholders’ Equity. Financial Statement Footnotes.

AN OVERVIEW OF THE ACCOUNTING PROFESSION. Private Accounting. Public Accounting. Regulation of the Accounting Profession. Challenges Facing the Accounting Profession.

2 Concepts and Elements Underlying Accounting. COMPOSITION OF FINANCIAL STATEMENTS. Balance Sheet. Income Statement. OBJECTIVES OF FINANCIAL REPORTING. KEY ATTRIBUTES OF ACCOUNTING INFORMATION.

FUNDAMENTAL ACCOUNTING CONCEPTS. Accounting Period Concept. Historical Cost Principle. Unit of Measurement Concept. Going Concern Assumption.

Entity Concept. Revenue Recognition Rules. Expense Recognition Rules. Full Disclosure Principle. AN INTRODUCTION TO THE ACCOUNTING SYSTEM. The General Journal and General Ledger. 3 The Mechanics of Double-Entry Accounting.

CAPTURING ACCOUNTING DATA. RECORDING TRANSACTIONS: DOUBLE-ENTRY BOOKKEEPING. Debits and Credits.

Using Debits and Credits. THE ACCOUNTING CYCLE. Step 1: Collect, Examine, and Process Transactions. Step 2: Adjust Account Balances as Necessary. Step 3: Prepare Financial Statements. Step 4: Close Temporary Accounts. Supplemental Problems.

PART II ACCOUNTING FOR ASSETS. 4 Cash, Short-Term Investments, and Accounts Receivable.

CASH AND CASH EQUIVALENTS. Bank Reconciliations. SHORT-TERM INVESTMENTS. ACCOUNTS RECEIVABLE. Accounting for Accounts Receivable. Credit Card Receivables.

Notes Receivable. ACCOUNTING INFORMATION FOR DECISION MAKING. Age of Accounts Receivable. Supplemental Problems.

PERPETUAL AND PERIODIC INVENTORY SYSTEMS. ACCOUNTING FOR COMMON INVENTORY TRANSACTIONS. Purchasing Inventory from a Supplier. Paying for Freight-In on Purchases. Returning Inventory to a Supplier. Selling Inventory to a Customer.

Accepting Returns of Inventory from a Customer. Paying on Account for Purchases of Inventory. INVENTORY COSTING METHODS. Specific Identification Method. Moving-Average Method.

Comparison of Income Statements Effects of Inventory Costing Methods. Balance Sheet Valuation versus Income Determination. FIFO versus LIFO: Tax Consequences. VALUING INVENTORY AT OTHER THAN COST. Retail Inventory. INVENTORY ERRORS.

ACCOUNTING INFORMATION FOR DECISIONMAKING. Supplemental Problems. 6 Long-Term Assets: Property, Plant and Equipment, and Intangibles. PROPERTY, PLANT AND EQUIPMENT. Acquisition of PP&E. Depreciation of PP&E.

Disposal of PP&E. NATURAL RESOURCES. Intangible Assets. Disposal of Intangibles.

ACCOUNTING INFORMATION FOR DECISIONMAKING. Capitalization versus Expensing. Ratio Analysis. Supplemental Problems. PART III ACCOUNTING FOR LIABILITIES AND OWNERSHIP INTERESTS. 7 Liabilities. CURRENT LIABILITIES.

Accounts Payable. Notes Payable. Installment Notes Payable. Accrued Liabilities. Deferred Liabilities. Contingent Liabilities. LONG-TERM LIABILITIES.

Bonds Payable. Long-Term Liabilities Other Than Bonds. ACCOUNTING INFORMATION FOR DECISIONMAKING.

Valuation Methods. Unusual Circumstances.

Analyzing Liabilities. APPENDIX: ACCOUNTING FOR BONDS. Accounting for Bonds Issued at a Discount. Accounting for Bonds Issued at a Premium. Supplemental Problems. 8 Stockholders’ Equity. THE CORPORATION.

Key Advantages of the Corporation. Key Disadvantages of the Corporation. CORPORATE STOCK. Right and Privileges of Common Stockholders. Rights and Privileges of Preferred Stockholders. Par Value and No-Par Value Stock. STOCK ISSUANCES.

TREASURY STOCK. Cash Dividends. Stock Dividends. STOCK SPLITS.

RETAINED EARNINGS. ACCOUNTING INFORMATION FOR DECISIONMAKING.

Dividend Payouts. Supplemental Problems. PART IV ANALYSIS OF ACCOUNTING DATA. 9 The Corporate Income Statement and Financial Statement Analysis. INCOME STATEMENT. Earnings from Investments. Corporate Income Taxes.

Nonrecurring Items. Earnings per Share. MAKING INFORMED ECONOMIC DECISIONS. Objectives of Financial Statement Analysis. Information Sources for Financial Statement Analysis. ANALYTICAL TECHNIQUES. Trend Analysis.

Common-Sized Financial Statements. Ratio Analysis.

ASSESSING EARNINGS QUALITY. Supplemental Problems. 10 Statement of Cash Flows. THREE PRIMARY TYPES OF BUSINESS ACTIVITIES AND CASH FLOWS. DIRECT VERSUS INDIRECT METHOD OF PREPARING A STATEMENT OF CASH FLOWS. PREPARING A STATEMENT OF CASH FLOWS: INDIRECT METHOD. Analyzing Transactions for a SCF—Operating Activities.

Analyzing Transactions for a SCF—Investing and Financing Activities. Completing the Analysis. Noncash Investing and Financing Activities. ACCOUNTING INFORMATION FOR DECISIONMAKING.

Cash Flow Ratios. Cash Flow per Share.

Free Cash Flow. Supplemental Problems.

PART V MANAGERIAL ACCOUNTING. 11 Fundamental Managerial Accounting Concepts. COMPARISON OF FINANCIAL AND MANAGERIAL ACCOUNTING. TYPES OF COSTS. Product and Period Costs. Direct and Indirect Costs. Controllable and Noncontrollable Costs.

Variable and Fixed Costs. COMPONENTS OF PRODUCT COST FOR MANUFACTURING COMPANIES. Direct Material Cost. Direct Labor Cost. Overhead Cost. INVENTORY COSTING SYSTEMS. Job Order Costing.

Processing Costing and Equivalent Units of Production. VALUING INVENTORY. Inventory Valuation Methods.

Predetermined Overhead Rate. FLOW OF PRODUCT COSTS. COST OF GOODSMANUFACTURED AND SOLD.

COSTS IN SERVICE COMPANIES. Supplemental Problems.

12 Cost-Volume-Profit Analysis. ASSUMPTIONS OF BREAK-EVEN AND CVP ANALYSIS. BREAK-EVEN POINT. CVP ANALYSIS. Before-Tax Profit.

After-Tax Profit. Other Considerations. USING INCREMENTAL ANALYSIS. Increase in Fixed Cost. Decrease in Selling Price. Increase in Sales Volume and Costs (1). Increase in Sales Volume and Costs (2). Rs Logix 500 Including Serial And Activation Disk Manager on this page.

CVP ANALYSIS IN A MULTIPRODUCT ENVIRONMENT. GRAPHIC APPROACHES TO BEP AND CVP PROBLEMS. Break-Even Graph. Profit-Volume Graph. OPERATING ABOVE BREAK-EVEN. Margin of Safety. Degree of Operating Leverage.

Supplemental Problems. 13 The Master Budget and Standard Costing. THE BUDGETING PROCESS. THEMASTER BUDGET. Preparing a Master Budget.

Sales Budget. Production Budget. Purchases Budget. Direct Labor Budget.

Overhead Budget. Capital Budget. Budgeted Financial Statements. THE ROLLING BUDGET.

STANDARD COSTS. Material Variances. Labor Variances. Understanding Variances. Supplemental Problems. 14 Activity-Based Management and Performance Measurement.

ACTIVITY-BASED MANAGEMENT. Analyzing Activities. Value-Added and Non-Value-Added Activities. COST DRIVERS. LEVELS OF COST INCURRENCE. ACTIVITY-BASED COSTING. MEASURING SHORT-RUN PERFORMANCE.

Profit Center. Investment Center.

MEASURING LONG-RUN PERFORMANCE. Balanced Scorecard.

DECIDING ON PERFORMANCE MEASURES. REWARDING PERFORMANCE. Supplemental Problems. • Streamlined approach: The second edition of Core Concepts of Accounting has been reformatted in a way that conveys the importance of the material to students. Real-world examples and ethical coverage are now incorporated into the main text rather than in boxed features. These changes add to the chapter’s flow and readability by allowing readers to move more quickly through the chapter’s substance. • International Financial Reporting Standards (IFRS): Throughout the text, discussion of IFRSs is included when such standards differ from the generally accepted standards used in the United States.

• Updated End-of-chapter materials: Additional questions, exercises, problems, cases, and supplementary items have been added to provide greater variety in course assignments. • New Visual Recaps: More Visual Recaps have been included to illustrate concepts or summarize material in a short and easily understandable format. • New real-world examples: More examples of specific accounting applications are provided for companies (with their related URLs). • End-Of Chapter Materials and Icons - each chapter contains a summary, key terms list, and a variety of questions, exercises, problems, and short cases for in-class discussion or homework. • Visual Recaps - Some accounting topics are more easily understood by examining them graphically rather than through reading. Visual Recaps are provided to illustrate significant topics in a pictorial manner or summarized in a table. • Accounting Information for Decision Making - This section is designed to emphasize a user (rather than preparer) perspective of accounting information.

These sections will address how external parties can analyze and interpret the types of information discussed in the chapter.