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Gain an understanding of the principles behind cost accounting and its importance in organizational decision making and business today with the unique, reader-friendly approach in Hansen/Mowen/Heitger's COST MANAGEMENT, 5E. This edition addresses functional-based cost and control and, then, activity-based cost systems - giving you the skills to navigate any cost management system. Updates address emerging developments, including the role of data analytics in cost management today. An entire new chapter also examines global issues, such as virtual currency and blockchain. This edition's approach is tailored to the way you learn. Structured examples from familiar companies emphasize the real-world applications and relevance of what you are learning. Clear explanations review the concepts behind each equation or topic, detailing the "hows," "whys" and "what-ifs." Integrated CNOWv2 resources provide additional computerized exercises and problems for practice and review.

Cost Management

1. Introduction to Cost Management.2. Basic Cost Management Concepts.3. Cost Behavior.4. Activity-Based Costing.Integrative Exercises.5. Product and Service Costing: Job-Order System.6. Process Costing.7. Allocating Costs of Support Departments and Joint Products.8. Budgeting for Planning and Control.9. Standard Costing: A Functional-Based Control Approach.10. Decentralization: Responsibility Accounting, Performance.Evaluation, and Transfer Pricing.Integrative Exercises.11. Strategic Cost Management.12. Activity-Based Management.13. The Balanced Scorecard: Strategic-Based Control.14. Quality and Environmental Cost Management.15. Lean Accounting and Productivity Measurement.Integrative Exercises.16. Cost-Volume-Profit Analysis.17. Activity Resource Usage Model and Tactical Decision Making.18. Pricing and Profitability Analysis.19. Capital Investment.20. Inventory Management: Economic Order Quantity, JIT, and the Theory of Constraints.21. Global Issues in Cost ManagementIntegrative ExercisesGlossary.Check Figures.Index.