managerial accounting and cost concepts chapter 2 pdf Sunday, May 23, 2021 3:14:16 PM

Managerial Accounting And Cost Concepts Chapter 2 Pdf

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The textbook covers the all the major concepts of managerial accounting. Although they are followed in a slightly different way and order than are pursued in the textbook I am currently using. I found the book easy to follow; however, a number of

A cost object is any item such as products, customers, departments, regions, and so on, for which costs are. Allocation means that an indirect cost is assigned to a cost object using a reasonable and convenient. A variable cost is one that does not increase in total as output increase and does not decrease in total as. A fixed cost is a cost that does not increase in total as output increases and does not decrease in total as.

Managerial Accounting

The textbook covers the all the major concepts of managerial accounting. Although they are followed in a slightly different way and order than are pursued in the textbook I am currently using. I found the book easy to follow; however, a number of Comprehensiveness rating: 5 see less.

I found the book easy to follow; however, a number of concepts could have been stretched further, such as, First-in-first-out method for Process Costing in Chapter 4, Lease or sell decision and replacing an old equipment with a new one etc. Inclusion of Table of Contents in the PDF version would have assisted with the reviewing of the textbook. A comprehensive list of learning objective would be useful at the beginning of each chapter.

The definitions are comprehensive. I have randomly checked a number of problems for mathematical accuracy and found no errors. However, I was wondering if the answers for the end of the chapter exercises are also available to the reviewers for establishing the accuracy. In terms of contents, the textbook covered all the major concepts of managerial accounting and hence, remain relevant for a considerable period of time.

However, there are scopes for adding more examples and recent business phenomena and reference to current information technology. The book is easy reading. I really like the introduction of each chapter, which starts with a business scenario in the form of dialogues that raises a particular management issue and then points out the necessity of learning the managerial accounting concepts covered in that chapter to solve such issue.

Throughout the book, spaces are omitted between the words in the "Key equation" boxes in the PDF version, which may confuse the reader. Some of the tables are hazy and interferes with the reading. I greatly appreciate the effort of the authors in completing this book and making it available to students at no charge. Comprehensive introduction to the key concepts and methodologies of costing, including budgeting, cash flow forecasting, decision analysis, performance evaluation, and non financial measures.

Good definitions and and thought-provoking questions to strengthen understanding of the concepts. Fair organization. It would help if the answers to problems or exercises were on a different page or indexed in the back of the book. The tables in the pdf version are completely illegible and blurred, even when you zoom in. The online version is better. People professionals referenced in the examples were gender neutral with a representative balance. I am not appreciating the muted green and blue shadings on all the tables and exercise problems.

It makes it difficult to read. The fonts on some of the tables and exercise problems are entirely too small. The introduction and explanation of the concepts are fairly well done and they make good use of challenges faced by contemporary companies. There is no glossary or index included, which would assist greatly with quick referencing of the information. However, the table of contents presents a comprehensive detailed overview of the book's chapters and related sections.

The material Comprehensiveness rating: 4 see less. The material coverage is as complete as the book I currently use, though presented in a slightly different order. This does not reduce the effectiveness of the information. I enjoyed seeing the review problems after each chapter section rather than all at the end of the chapter.

I think students might be more likely to work the review problems in this manner as the questions appear more relevant when presented right after the applicable information. The key takeaways are also nice as they seem to reinforce the learning objectives.

Overall, I think the book is effective for the purpose of an Introduction to Managerial Accounting. The material in this book appears relevant and consistent with other managerial textbooks.

This type of information does not change frequently. The book should be easy to update should changes become necessary. The information is clear with easy to follow examples and problems. The simple writing of this textbook helps reduce cognitive overload. The book follows a logical pattern in presenting the topical information, though slightly different from how I currently teach managerial accounting.

Terminology and layout is consistent throughout the textbook. I appreciate the subheadings with the key takeaways and review problem after each chapter sub-section. The flow allows a simple way to ensure the learning objectives have been met. Each chapter is comprehensive enough to stand-alone. I reviewed the online book and noticed spacing issues that were a bit distracting.

I think the example sections should have a brighter background color scheme. The gray is boring and looks dull. Some of the more compressed pictures were not completely clear. Overall, the images are decent. Given that the book covers the same material as my current managerial text but without the steep cost, I will strongly consider switching to this text. I appreciate the open availability of this book. The contents of this book are very comprehensive and comparable to other Managerial Accounting texts I have used in the past from major publishers.

All of the major subjects I expected to find in an introductory managerial text were listed. The table of contents was organized in a clear, logical progression. The table of contents is missing from the pdf version of the text, but included in the online version; this is not a big draw back since the content could be covered "out of order" in a course, or students could be directed to the specific pages to read. One thing I would like to see is some expansion of the learning objectives.

Objectives are included in the text at the beginning of a section, but they are all numbered "1" and are not summarized anywhere. I recalculated several of the chapter example problems and found no errors. There are no solutions provided for end-of-chapter exercises, so those could not be checked. The content included in an introductory managerial accounting course does not change substantially annually.

I believe this text will remain relevant for a while. Another reviewer mentioned that there may be a need to update some of the example companies after a while. Overall, most of the text is very concise. Sentences are not overly long, and the language used is a good blend of technical vocabulary that the student should become accustomed to, and layperson terms. I think this is an advantage of this text - most students dislike having to "wade through" a lot of dense writing to get to the point of the chapter or section.

The text uses vocabulary consistently throughout. The structure of chapters, practice problems, examples, all follow a consistent pattern. See numbering of learning objectives comment above. This is another advantage of this text - the concise presentation of most of the topics make it easy to subdivide and reorder. This is largely addressed in the "comprehensiveness" section.

Very clear, logical progression through the content. The online version was much easier to navigate than the pdf. There were a lot of formatting issues in the pdf that made it distracting to my eye at times uneven highlighting, indenting, spacing, some graphics were blurry. A lot of these issues could be alleviated by recompiling parts of the text into an LMS learning tool such as a Moodle Book , or webpage.

While there are many spacing issues throughout which could be attributed to formatting , I did not find any significant grammatical errors. I did not find any part of the text culturally insensitive or offensive. I think this text is a good starting point for OER content for an introductory managerial accounting course. I would not be comfortable relying solely on this text for content - there is not enough contextualization nor enough visual aids for some of the material.

The text "Managerial Accounting" provides a comprehensive and broad review of the major topics usually covered in an introductory Managerial Accounting course. There is no index.

New terms are explained well in the text when they are first New terms are explained well in the text when they are first introduced.

The content of the book is excellent for an introductory course. I suspect most professors will bring in supplemental, current examples to compliment the generalized examples in the text. Nevertheless, the text's examples are sufficient and illustrative. My students find the text accessible and useful. For me, that is the single best measure of any text's clarity. Examples used in the chapter text lend themselves to being used a guides when students work on assigned problems from the end every chapter.

I am quite satisfied with the text's internal consistency. This text is very easily divided or reordered into modules to suit different teaching objectives. I teach several of the chapters "out of order" so that I bring in some concepts early in the semester. The text topics are presented in a logical fashion but, as noted above, one can easily reorder several of the chapters to suit individual teaching needs. I think it is wonderful that this text is available to students at no charge.

I appreciate the generosity of the authors in making this possible. Differences between managerial and financial accounting seems to be abbreviated in chapter 1.

Chapter 2 Managerial Accounting and Cost Concepts Solutions to Questions

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How should this difference be classified and why? What are the major types of period costs incurred by a manufacturer? What is its relationship to the income statement? Show the calculation. What type of balance does each have in the Overhead account? Material B was issued to Job No. Exercise A The following costs are incurred by an electrical appliance manufacturer.

Chapter 2 - Managerial Accounting and Cost Concepts - Questions - Page 51: 2-3

Many different kind of organization affect our daily lives, like. All of these organization have: a. A set of Goals or objectives b.

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Managerial Accounting

It will categorically squander the time. Exercise 30 minutes. You might not require more get older to spend to go to the book instigation as well as search for them. Chapter Performance Measurement in Decentralized.

Attempt any four questions out of the remaining five questions. Accounting Interview Questions are the different type of frequently asked questions which are related to the concept of the accounting of which one must have knowledge in order to gain understanding about the different aspects of the accounting. This book discussed about the basics of cost accounting, material, labour and overheads costing. However, we request. Accounting Principles.

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Landerico C. 27.05.2021 at 10:07

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