Management and cost accounting

More about the book

Management and cost accounting has long been essential in business administration, forming a core part of business education curricula. Familiarity with its basic concepts and instruments is crucial for students. As business becomes increasingly international, English has emerged as the common language for academics, students, and practitioners to discuss management and cost accounting. This new English language textbook serves as an introductory resource for Bachelor and MBA students, focusing on practical applications and cases. It addresses all relevant topics in management accounting typically covered in German and Central European courses, beginning with an overview of key differences between the German and Anglo-Saxon approaches. The book details various cost terms and concepts used in German cost accounting, offering a more specific perspective than US textbooks. It explores cost behavior and the determination of cost functions, then guides readers through the structure of a comprehensive cost accounting system, including cost type, cost center, and cost unit accounting. The latter sections focus on decision-making, illustrating how management and cost accounting data assist managers. Topics such as absorption versus variable costing, product portfolio decisions, outsourcing, and cost-volume-profit analysis are examined, concluding with cost planning and variance analysis.