Cost Accounting and Student CD Package, 11th Edition [Hardcover]

Charles T. Horngren (Author), Srikant M. Datar (Author), George Foster (Author)

Book Description

ISBN-10: 013179356X | ISBN-13: 978-0131793569 | Publication Date: August 1, 2002 | Edition: 11

This acclaimed, number one market-leading book embraces the basic theme of “different costs for different purposes.” It reaches beyond cost accounting procedures to consider concepts, analyses, and management. Chapter topics cover: the accountant's role in the organization; an introduction to cost terms and purposes; cost-volume-profit analysis; job costing; activity-based costing and activity-based management; master budget and responsibility accounting; flexible budgets, variances, and management control; inventory costing and capacity analysis; determining how costs behave; decision making and relevant information; pricing decisions and cost management; strategy, balanced scorecard, and strategic profitability analysis; cost allocation, customer-profitability analysis, and sales-variance analysis; allocation of support department costs, common costs and revenues; cost allocation: joint products and byproducts; process costing; spoilage, rework, and scrap; quality, time, and the theory of constraints; inventory management, just-in-time, and backflush costing; capital budgeting and cost analysis; management control systems, transfer pricing, and multinational considerations; and performance measurement, compensation, and multinational considerations. For future accountant who want to enhance their understanding of—and ability to—solve cost accounting problems.

Editorial Reviews

From the Back Cover

This acclaimed, number one market-leading book embraces the basic theme of “different costs for different purposes.” It reaches beyond cost accounting procedures to consider concepts, analyses, and management. Chapter topics cover: the accountant's role in the organization; an introduction to cost terms and purposes; cost-volume-profit analysis; job costing; activity-based costing and activity-based management; master budget and responsibility accounting; flexible budgets, variances, and management control; inventory costing and capacity analysis; determining how costs behave; decision making and relevant information; pricing decisions and cost management; strategy, balanced scorecard, and strategic profitability analysis; cost allocation, customer-profitability analysis, and sales-variance analysis; allocation of support department costs, common costs and revenues; cost allocation: joint products and byproducts; process costing; spoilage, rework, and scrap; quality, time, and the theory of constraints; inventory management, just-in-time, and backflush costing; capital budgeting and cost analysis; management control systems, transfer pricing, and multinational considerations; and performance measurement, compensation, and multinational considerations. For future accountant who want to enhance their understanding of—and ability to—solve cost accounting problems.

Product Details

• Hardcover: 880 pages
• Publisher: Prentice Hall; 11 edition (August 1, 2002)
• Language: English
• ISBN-10: 013179356X
• ISBN-13: 978-0131793569
• Product Dimensions: 8.4 x 6.6 x 0.8 inches
• Shipping Weight: 4 pounds
• Average Customer Review: 3.4 out of 5 stars  See all reviews (16 customer reviews)
• Amazon Best Sellers Rank: #754,182 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

34 of 36 people found the following review helpful:

5.0 out of 5 stars Cost Accounting by Horngren, February 6, 2004

By 

Joseph S. Maresca "Dr. Joseph S. Maresca CPA,... (Bronxville, New York USA) - See all my reviews
(HALL OF FAME REVIEWER)    (TOP 1000 REVIEWER)    (REAL NAME)   

This review is from: Cost Accounting and Student CD Package, 11th Edition (Hardcover)

A strength of this book is that there are many color diagrams
throughout which illustrate/highlight the material. The treatment
of process cost accounting is thorough and highly simplified
with many detailed examples to illustrate the computation of
equivalent units. In process cost accounting, it is critical
to understand the physical flow of costs, as well as,
interdepartmental transfers and modified cost assumptions.
In addition, there is a thorough treatment of managerial
cost accounting in the areas of discounted cash flow, internal
rate of return, compounding, depreciation and cash flow,
net present value, uncertainty, inflation, capital budgeting,
payback and the accounting rate of return. Lastly, there is
a good treatment of decentralization and transfer pricing.
The book is worth the price of admission. Classic problems
from this text have been replicated on some form or another
on professional and collegiate standardized tests.
This work helps to support what is taught in a collegiate
finance course, as well as the cost accounting element.

The thrust of a cost accounting course is for the B or better
student. There is a fair amount of work in this course.
As such, it is geared for accounting, finance or economics
majors. Quantitatively oriented students will enjoy the presentation as well as a wide constituency of teachers
in academe. Even college administrators would find this
text useful for preparing budget schedules and interdepartmental
cost analyses. Engineering companies would
benefit by having a detailed analyses of process costing and
managerial accounting on individual construction jobs.

18 of 19 people found the following review helpful:

5.0 out of 5 stars A standard text for cost accounting, October 24, 2002

By 

Craig Matteson (Saline, MI) - See all my reviews
(TOP 500 REVIEWER)    (HALL OF FAME REVIEWER)    (REAL NAME)   

This review is from: Cost Accounting: A Managerial Emphasis (Charles T. Horngren Series in Accounting) (Hardcover)

If you are looking for a single volume "bible" on cost accounting, this is likely the best book in print today to fit that bill. It is comprehensive in scope yet has many strengths to ease comprehension and aid readability.

The topics are grouped in six main sections each with several chapters on that topic. Since it is unlikely that you will read this reference / text book left to right as you would a novel this organization helps in finding what you are looking for and focusing on the area(s) of interest.

There are many helpful illustrations and a good use of color as well as chapter summaries and all the exercises you could ever hope for.

A very excellent feature is the use of application problems that take you step-by-step through building an Excel spreadsheet. This is tremendously useful.

The web support is also a good help as well as the streaming video vignettes.

I honestly find this topic very interesting and the 11th edition of this book to be a very valuable resource.

21 of 23 people found the following review helpful:

3.0 out of 5 stars katz, April 15, 2005

By 

katz - See all my reviews

This review is from: Cost Accounting and Student CD Package, 11th Edition (Hardcover)

I am Chartered Management Accountant (CIMA) - intermediate student. I used this book for my professional qualification paper - Decision Making. This book is useful, but I have some reservations and therefore the rating 3/5. Some of my reservations are:
1.Unlike Drury's, Management and Cost Accounting, this book is almost all formula based. Almost everything is derived through formula and there is very little explanations on why the formula is structured in that way.

2. The chapter of Standard Costing and Analysis of Variance is frustrating. The author(s) doesn't cover all the variances under all the categories, namely material, labor,overhead and sales etc..,

3. At one point the book asks you to calculate the Break Even point under "Absorption Costing", but there is never a discussion of how to do it. You'll find this information in drury's text.

4. The excersise and problem sets are too simple for a professional level student. However the cases are great.

The plus points however are:
1. Great coverage of emerging practices in the profession
2. The companion CD is great source of sharpening your knowledge, and
3. The color presentation

Overall, the book rates below Colin Drury's bible book "Management and Cost Accounting". Therefore before spending $150 to buy this book, have a look at the bible book.