Preface
Part I Questions
• An introduction to cost terms and concepts
• Cost assignment
• Process costing
• Joint and by-product costing
• Income effects of alternative cost accumulation systems
• Cost-volume-profit analysis
• Measuring relevant costs and revenues for decision-making
• Pricing decisions and profitability analysis
• Activity-based costing
• Decision-making under conditions of risk and uncertainty
• Capital investment decisions: appraisal methods
• Capital investment decisions: the impact of capital rationing, taxation, inflation and risk
• Management control systems
• The budgeting process
• Standard costing and variance analysis 1
• Standard costing and variance analysis 2: further aspects
• Divisional financial performance
• Transfer pricing in divisionalized companies
• Strategic performance management
• Strategic cost management and value creation
• Management accounting – current technologies and data analytics
• Sustainability and environmental management accounting
• Overview and challenges for the future
• Cost estimation and cost behaviour
• Quantitative models for the planning and control of inventories
Part II Solutions
• An introduction to cost terms and concepts
• Cost assignment
• Process costing
• Joint and by-product costing
• Income effects of alternative cost accumulation systems
• Cost-volume-profit analysis
• Measuring relevant costs and revenues for decision-making
• Pricing decisions and profitability analysis
• Activity-based costing
• Decision-making under conditions of risk and uncertainty
• Capital investment decisions: appraisal methods
• Capital investment decisions: the impact of capital rationing, taxation, inflation and risk
• Management control systems
• The budgeting process
• Standard costing and variance analysis 1
• Standard costing and variance analysis 2: further aspects
• Divisional financial performance
• Transfer pricing in divisionalized companies
• Strategic performance management
• Strategic cost management and value creation
• Management accounting – current technologies and data analytics
• Sustainability and environmental management accounting
• Overview and challenges for the future
• Cost estimation and cost behaviour
• Quantitative models for the planning and control of inventories
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Colin Drury
The late Colin Drury was at Huddersfield University from 1970 until his retirement in 2004, when he was awarded the title of Emeritus Professor. For the last 40 years, Professor Colin Drury has been at the forefront of helping students learn the key concepts and processes in management and cost accounting through his bestselling textbooks, which have been widely recommended by the main professional accounting bodies for their examinations. He was an active researcher throughout his career and his research had been published in around 100 professional and academic journals. In recognition for his contribution to accounting education and research, Drury received a lifetime achievement award by the British Accounting Association in 2009. Drury’s Flagship title Management and Cost Accounting was first published in 1985 and is now in its 11th edition. It established itself as one of the leading management accounting textbooks in EMEA. It is known, not just for its rigour and authority, but particularly for Drury’s down-to-earth style that reflected his background as a practising accountant before his involvement in academia.
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Mike E Tayles
Professor Mike Tayles holds the Emeritus Chair in Accounting and Finance at The University of Hull. During his career he has been a Visiting Professor at various universities internationally as well as the Head of Management Accounting and Programme Director of various Degree Programs. He has been an Examiner/Lead Marker for both the ACCA and CIMA. Mike Tayles is a Chartered Management Accountant with a first degree in mathematics and economics and a doctorate in contemporary management accounting practices. He has worked in various manufacturing industries, holding such positions as group management accountant and financial controller. Mike Tayles' research interests include management accounting practices, cost system design, activity-based cost management and developments in strategic management accounting, including quality and intellectual capital. He has presented papers at national and international conferences, published articles in professional and international academic journals and research reports. He has consulting and research experience in both manufacturing and service businesses.
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New questions on management accounting in the digital era including data analytics reflect current issues in management accounting.
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Additional questions on strategic performance, cost management and environmental accounting highlight the changing role of the accountant in today’s organizations.
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A huge variety of problems and business scenarios gives students the opportunity to hone their problem solving skills and gain confidence in applying theory to practice.
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Fully worked solutions to all exercises encourage independent practice and ensure students can easily review their answers to study effectively.
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Questions are ranked in an ascending order of difficulty, making it easy to select the appropriate level for study and revision.
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All questions and solutions are also integrated in the MindTap digital learning solution to create a one-stop practice and interactive resource for students.