Cost Management Strategies for Business Decisions

Alison Hilton
Cost Management Strategies for Business Decisions
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Hilton/Maher/Selto (HMS) addresses traditional cost concepts, but makes cost accounting functional by focusing on measuring and managing costs. HMS maintains that, 'Costs don't just happen', and with a pro-active approach toward costs, accountants can add value to an organization. The real-world approach of this text, including the use of focus companies and the accompanying focus sites, provides a realistic business environment, and aids in student comprehension and interest in the subject.Focus Company Web Sites- Six of the focus companies come with accompanying online focus sites. These interactive websites, tied directly to the in-chapter ĹźYouĹźre the Decision-MakerĹź exercises, simulate an intranet environment making students privileged insiders into the real business world. Written by co-author Frank Selto, these eye-catching decision modules contain spreadsheet data, strategic company information, and value chain analysis. These make for excellent activities, group projects, and add to applying the chapter discussion. These unique, exciting, and student-focused sites are available on the HMS Online Learning Center or as an optional CD-ROM packaged with the book. |Build Your Own SpreadsheetOne or more of the exercises or problems in each chapter includes an option for students to build a spreadsheet to solve the problemĹźs requirements. Students are also asked to use the spreadsheet to determine the effect on the solutions if various parameters in the problem are changed. |The material in Chapter 21 has been condensed and incorporated into other chapters, primarily Chapters 18 and 20. The new edition has 20 chapters instead of 21. |Chapter 14 includes an introduction to real option value (ROV) analysis, not available in any competing text. |Ethics- Many of the chapters highlight ethical issues that arise in the context of cost management.|Each chapter is written around a focus company that is incorporated throughout. The authors use realistic companies as suppliers, customers, competitors, etc. to give students a sense of a true business environment. At the beginning of each chapter, a company memo, press release, e-mail message, or other company document introduces students to the issues the focus company will face in the chapter. This important feature is unique to the market and demonstrates relevance to students. Focus companies amplify student comprehension because one continuing example is easier to follow and much more interesting than a string of examples from unrelated companies. Examples of these life-like and detailed focus companies include a sports drink company, City of Rock Creek (municipal government), a collegiate apparel manufacturer, a book and music retailer, and a non-profit company that employs workers with disabilities. |'You're the Decision-Maker' feature asks students to solve realistic, challenging problems. The questions place a strong emphasis on interpretation and analysis of data, and how real world factors affect it. These examples are the springboards for the new Focus sites (web exercises). |Information Technology/Communication is woven into the story of each chapter. This unique feature identifies the importance of information technology in cost accounting and cost management for business planning. Managerial accountants are presented as the link between the IT personnel and management and/or decision makers. |Cross Cultural and International integration is demonstrated through the use of company examples that illustrate foreign investment, domestic companies opening plants in other countries, and exposing the varying interpretations of financial data that results from cultural differences. |Balance of Manufacturing, Service, and Nonprofit Companies. The majority of focus companies are in service organizations. Although many cost management techniques originated in mature manufacturing companies, service, government and start-up organizations alike have found the techniques to be immensely valuable. Since many developed countries are becoming service economies, extensive coverage of cost management in service organizations will be beneficial to students who will find rewarding careers managing or consulting to service companies. |Short Cases are included at the end of each chapter. These cases allow students to apply what theyĹźve learned in a real-world situation. These cases may be used as individual, team, in-class or out of class assignments. |YouĹźre The Decision Maker CD This CD includes six simulated Focus Sites. The sites extend the focus companies found in the text and include management interviews, company background, and cost information on spreadsheets. Students are asked to make decisions based on the information in the text and on the Ĺźcompany site.Ĺź These activities reinforce the importance of cost management and can be used for independent study or additional assignments by instructors. This CD can be packaged with the text. It also includes Excel Templates and PowerPoint slides.
Data wydania: 2005
ISBN: 978-0-07-111597-1, 9780071115971
Język: angielski
Wydawnictwo: McGraw-Hill

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