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33 of 34 people found the following review helpful:
Cost Accounting by Horngren
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...
Published on February 6, 2004 by Joseph S. Maresca
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15 of 16 people found the following review helpful:
katz
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...
Published on April 15, 2005 by katz
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33 of 34 people found the following review helpful:
Cost Accounting by Horngren, February 6, 2004
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.
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17 of 18 people found the following review helpful:
A standard text for cost accounting, October 24, 2002
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.
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15 of 16 people found the following review helpful:
katz, April 15, 2005
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.
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10 of 10 people found the following review helpful:
Good starting book for Managerial Accounting, February 26, 2007
Clearly written. Although it assumes some basic knowledge about accounting, the writing technique is such that there is very little background knowledge that you have to go refresh yourself with in order to make sense of the new information. For a novice at accounting like me, this was easy to understand, with good examples and illustrations.
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7 of 7 people found the following review helpful:
A one volume compendium with helpful CD, January 20, 2005
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 CD comes with PowerPoint presentations, spreadsheet templates for various assignments, excel problems for the student to solve, video clips, and sample student solutions (this is a most helpful feature).
I honestly find this topic very interesting and the 11th edition of this book to be a very valuable resource.
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5 of 5 people found the following review helpful:
Cost Accounting-A Managerial Emphasis by Horngren et al., July 19, 2003
In graduate school, I utilized this text. In addition, the work
was helpful in preparing for and passing the Uniform CPA Exam.
There is good coverage of cost-volume analysis, equivalent
units, margin analysis and other important topics for qualifying
examinations i.e. CPA Exam. The tables and graphical
presentations are helpful as are the problem sets. This work is
for the serious student in accounting.The course requires some
serious study, particularly in the area of process costing.
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5 of 5 people found the following review helpful:
Love-Hate Relationship, September 30, 1999
By A Customer
Strenghts: Quite readable considering the subject. Terms are laid out in bold face and concepts are explained in identifiable sections. The summary at the end reinforces concepts and key terms. The end of chapter questions give you something to think about. Most examples are easy to follow. Weaknesses: Some concepts that include examples are explained with formulas in parentheses so that you have to stop reading and look at the figure. Not bad but I like them in the figure or in footnotes. Some of the exercises/problems were difficult to relate to the examples in the book. Other than that this book is great. What would make this book a 5? The study guide.
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5 of 5 people found the following review helpful:
Cost Accounting: A Managerial Emphasis, March 22, 2000
By A Customer
We use this text in 2nd year accounting in Australia. I find it very difficult to understand. The explanations are too technical with unnecessarily long words. The examples don't correspond to the questions. Also there are several obvious spelling errors.
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10 of 12 people found the following review helpful:
THE BOOK IS EXCELLENT FOR STUDENTS IN INDIA., March 1, 1999
By A Customer
I HAPPEN TO READ THE BOOK IN THE INSTITUTE OF COST ACCOUNTANTS OF INDIA'S LIBRARY. THE BOOK WAS WONDERFUL. MOST OF THE PROBLEMS SET IN OUR FINAL EXAMINATIONS WERE TAKEN OR COPIED WITH MINOR VARIATIONS FROM YOUR BOOK. THEREFORE IT IS VERY USEFUL FOR STUDENTS LIKE US TO READ YOUR BOOKS AND SCORE GOOD MARKS IN THE EXAMINATION.HOWEVER THE BOOK DOES NOT CONTAIN DETAILED SOLUTIONS. AS A RESULT WE ARE UNABLE TO UNDERSTAND FULLY THE METHODOLOGY OF SOLVING IT. AND THE PRICING IN INDIA IS VERY HIGH TO AFFORD THIS BOOK. THIS MAY BE CONSIDERED BY THE AUTHOR TO MAKE THIS BOOK AT AN AFFORDABLE PRICE FOR AN AVERAGE INDIAN STUDENT. THANKING YOU, YOURS FAITHFULLY, M. RAGHU RAMAN
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4 of 4 people found the following review helpful:
Good definitions, bad examples., September 24, 1999
By A Customer
I find this book very difficult to understand. Too often, there are formulas written right into sentences, and not in any special order. I would much prefer that the definition for a particular term is given in a sentence, then have the formula off to the right, or in the middle of the page, separated from the definition. This book gives very good definitions of terms, but very poor examples of the exercises that are given in the back of the chapters for review. In the chapter, there is maybe one type of problem, yet in the back of the chapter, 10 different problems too different from the given example.
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