Cost Accounting : A Comprehensive Guide

Rating:
Summary: This Cost Accounting book can make you a Hero!
Review: As a practicing cost accountant for over 20 years, I know that in tough times, companies need cost accounting and control to remain (or become) profitable. It is as cyclical as the economy. If you are in such a situation, this book will guide you through the process. The payoff can be very big and, once in place it is easily maintained. Five star recommendation for this book. Keep it on you desk.

The book is written primarily for the practicing ( or would-be) cost accountant or accounting manager. It starts with a discussion of how cost accounting (CA) can be used most effectively to help management. The crux of CA is to improve costs in the organization. Why you need it, what data to collect, how to collect it, what to do with it.

There are 7 parts to the book covering 40 chapters. The shorter segments allow the reader to quickly locate important information without digging through the index. This is a very handy feature that most accounting tomes don't address. The book addresses;

The Purpose of Cost Accounting, Role of Cost Accounting, Cost Accountant's Job, Ethics (Really!), Costing Systems and Data Collection, Data Collection Systems, Timekeeping, Chart of Accounts, Cost Accounting Software, Paper-based documents, Costing Methodologies, Job Costing, Process Costing, Direct Costing, Standard Costing, Last-in-first-out (LIFO), FIFO and Average costing, Throughput Costing, Joint and by-product costing, Activity-based costing, Target costing, Costing systems summary (which is most (and least) useful, Using Costs in Pricing, Variance and Operational Analysis, Variances, Spoilage, waste and scrap, Cost-volume-profit, Analysis reporting, Managing Costs, Control Systems, Capital budgeting, Capacity management, Material requirements planning (MRP), Just-in-time (JIT), Quality, Cost variability, Pricing Issues, Transfer pricing, Pricing laws, Corporate strategy, Benchmarking, Valuing inventory, Best practices, Budgeting, Service environments, Spreadsheets, Taxation, Fraud, and a Bibliography and Glossary. Very comprehensive.

This is a quite an array of problems the book addresses. It is a highly recommended reference for the practicing Cost Accountant, or anyone for that matter who wants to know where to start controlling their own costs. Let's face it. All the really easy problems, in your company, have probably been resolved long ago. What's left are opportunities waiting to be discovered.

Rating:
Summary: Complete and up to date
Review: Comprehensive is the right word. It's been twenty years since I took cost accounting and the fundamentals haven't changed, however, the world has. Bragg's comprehensive guide is up to date and complete. It's a solid addition to our library and has practical ideas for using systems and technology that we need in the real world. Well worth the price.

Rating:
Summary: Horngen's book better
Review: I am currently inplementing a project/job accounting system. This book was fine as an overview but of little use otherwise. Horngren's Cost Accounting - A Managerial Emphais was also purchased. Horngren's book was better as an overview and for the theory and details of implemtation.

Rating:
Summary: An Excellent and Practical Guide to Cost Accounting
Review: In today's economic environment the role of the cost accountant has become more complex and vital to an organization's success. Cost Accounting: A Comprehensive Guide is a practical resource for the professional. How refreshing to have a cost accounting book that addresses the daily issues encountered in the operations of a company rather than a theoretical approach to the subject. I recommend this book to the entry-level cost accountant through the well-seasoned practitioner. Excellent!

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Summary: Cost Accounting & Beyond
Review: This really is a COMPREHENSIVE guide to the numerous and varied aspects of the subject matter. It is a MUST READ for all professionals whose responsibilities are impacted by the cost accounting needs of their organization.