Cost Management: Strategies for Business Decisions, International Edition

This book is an adaptation of the successful US text Cost Management by Hilton,Maher and Selto, written specifically for an international audience.Major improvements include: Diverse and truly international examples of organizations - Examples used throughout the book are from all over the world and represent manufacturing, retail, not-for-profit, and service firms in many different countries.Completely restructured and rewritten text - The book has been rewritten, restructured and also shortened significantly to align content closer with international courses.Integral use of spreadsheets - Spreadsheet software is used for explaining techniques and making applications more realistic.In depth research - Summaries of international research studies that address important cost management issues have been updated and more references to recent research findings have been added.Intuitive explanation of accounting - The authors show directly how events impact the balance sheet and profit and loss account.

Table of Contents:
PART 1: Setting the Strategic Foundation: The Importance of Analysing and Managing Costs Cost Management and Strategic Decision Making: Evaluating Opportunities and Leading Change Product Costing Concepts and Systems Cost estimation PART 2: Activity-Based Management Activity-Based Costing Systems Customer Profitability and Activity-Based Management Managing Quality and Time to Create Value PART 3: Planning and Decision Making Cost Management and Short-Term Decision Making Strategic Investment Decisions Budgeting and Financial Planning PART 4: Product Costing and Cost Allocation Job and Order Costing Joint Product and Process Cost Systems Managing and Allocating Support Service Costs PART 5: Performance Measurement and Management Analysis and Management of Cost Variances Organizational Design, Responsibility Accounting and Evaluation of Divisional Performance Transfer Pricing Strategy, Balanced Scorecards, and Incentive Systems

About the Author :
Professor Selto has been on the faculty at the University of Colorado at Boulder since 1985, where he has taught accounting at the undergraduate and graduate levels and served as Division Chair of Accounting and Information Systems. Recently appointed as a Research Fellow of the University of Melbourne, Selto has taught at the University of Denver, the University of Colorado at Denver, and the University of Washington. Professor Selto holds MBA and Ph.D. degrees in accounting from the University of Washington, and BS and MS degrees in mechanical engineering, from Gonzaga University and the University of Utah, respectively. Prior to earning his MBA and Ph.D. degrees, he worked as a mechanical engineer and served as an officer in the US Army Corps of Engineers. Active in the American Accounting Association and its Management Accounting Section, Selto was the editor of the Education Research section of The Accounting Review and has served on the editorial boards of The Accounting Review, Journal of Management Accounting Research, Management Accounting Research, and Accounting Horizons. A researcher of management accounting and management control, Selto has published articles in Journal of Accounting Research, Accounting, Organizations and Society, Journal of Cost Management and Journal of Management Accounting Research, one of which was recognized as a Notable Contribution to the Management Accounting Literature. Ronald W. Hilton is a Professor of Accounting at Cornell University. With bachelor's and master's degrees in accounting from The Pennsylvania State University, he received his Ph.D. from The Ohio State University. A Professor of Management at the University of California-Davis, Professor Maher previously taught at the University of Michigan, the University of Chicago, and the University of Washington. He also worked on the audit staff at Arthur Andersen & Co. and was a self-employed financial consultant for small -businesses. He received his BBA from Gonzaga University (which named him Distinguished Alumnus in 1989), and his MBA and Ph.D. from the University of Washington, and earned the CPA from the state of Washington. Professor Maher is president of the Management Accounting Section of the American Accounting Association, and has served on the editorial boards of The Accounting Review, Accounting Horizons, Journal of Management Accounting Research, and Management Accounting. Co-author of two leading textbooks, Principles of Accounting and Managerial Accounting, Maher has co-authored several additional books and monographs, including Internal Controls in U.S. Corporations and Management Incentive Compensation Plans, and published articles in many journals, including Management Accounting, The Journal of Accountancy, The Accounting Review, The Journal of Accounting Research, Financial Executive, and The Wall Street Journal. For his research on internal controls, Maher was awarded the American Accounting Association's Competitive Manuscript Award and the AICPA Notable Contribution to Literature Award. He has also received the award for the Outstanding Tax Manuscript, and from the students at the University of California's Graduate School of Management, he has received the Annual Outstanding Teacher Award three times and a special award for outstanding service twice