Book Description

This study aid contains forms that help students organize their solutions to homework problems. ... Read more

Book Description

Incorporate the Benefits of Activity-Based Costing into the Efficiencies of Your SAP R/3 System

Given SAP’s dominance in the enterprise resource planning (ERP) market, many companies and their managers encounter SAP AG applications in some form or another.Many of these organizations have recognized the value of utilizing Activity-Based Costing/Management concepts to perform more accurate cost assignments or drive performance initiatives. Managers are then faced with trying to determine how Activity-Based Costing can be incorporated into the SAP environment. The 123s of ABC in SAPis the first book of its kind designed to help business managers understand the capabilities of the SAP R/3 business application to support Activity-Based Costing, Management, and Budgeting.

Divided into three parts–the conceptual foundation, the capabilities of SAP ABC, and integration with other tools–the book provides readers with the following:

• An explanation of how Activity-Based Costing can be used with SAP
• Helpful hints for implementing ABC into SAP
• Insights into the most common difficulties and potential solutions when implementing ABC into SAP
• Summary tables that highlight key decisions to be made, implementation hints, and organizational challenges
• Detailed descriptions of SAP software applications to support the Activity-Based Costing approach as well as the integration of SAP R/3 with Oros software
• Examples of the tandem usage of Resource Consumption Accounting with Activity-Based Costing

Reviews (1)

An essential book for ABC and SAP practitioners
This is the first book that really explains the theory and practice behind using Activity Based Costing within SAP. This book does not suffer fools - it requires active reading and reflection. Nonetheless, the reader will be rewarded with excellent graphics and useful number examples. Particularly important is the segue to the real heart of advanced costing in SAP (of which ABC is a part), RCA or Resource Consumption Accounting. Excellent information of the mechanics the SAP templates (the truly groundbreaking functionality within SAP-ABC). ... Read more

Book Description

As the hospitality industry continues to grow and the business environment become ever more competitive, it must become increasingly profit and cost-conscious in order to maximize revenue and minimize costs, all while maintaining the level of service necessary for a successful operation. There is no other hospitality management accounting book on the market that combines essential information, illustrative examples, and useful problems and exercises. ... Read more

Reviews (1)

I think this book would be great for any student
I recently took a hospitality managerial accounting class at school and found this book extremely useful. There was so much in-depth information, along with illustrative examples, case studies, and useful problems and exercises. The student workbook also came in handy and helped me to pass the class. ... Read more

Book Description

The 2004 Cumulative Supplement includes the following:

• Revised bankruptcy forms.
• Description of recent decisions by bankruptcy courts, bankruptcy appeals panels, district courts, circuit courts, and the Supreme Court dealing with bankruptcy and business restructurings.
• Discussion of the impact of Chapter 11 on SEC reporting.

Book Description

A practical, applications-rich guide to this new cost management methodology

Implementing Activity-Based MANAGEMENT In Daily Operations

John Miller's lucid presentation of the principles and practice of activity-based management and activity-based costing makes this book required reading for all managers, accountants, and financial officers. Now generally recognized as a more accurate method of determining the relative profitability of various business activities, ABM has become a valuable new tool for management decision making. Miller, whose experience includes the implementation of ABM at Fortune 500 companies, provides step-by-step guidance to its use and benefits:

• Overview of ABM, including basic principles, benefits, uses, various approaches, and implementation models
• Basic techniques of activity/product costing, with comparisons between traditional methods and ABM
• Activity analysis—how to define processes, activities, cost-drivers, and goals
• Data gathering for ABM—collection techniques and interviews
• Examples of real-life implementation plans and situations, drawn from a variety of organizations
• Ongoing system requirements, planning, and performance measurement

Activity-based management and activity-based costing (ABM/ABC) have brought about a sea change in cost management systems. Growing largely out of the work of the Texas-based Consortium for Advanced Manufacturing-International (CAM-I), ABC has, according to BusinessWeek, introduced "new rules for cost management as investment justification, product costing, the total life-cycle costs of products, and how to define better measures of manufacturing performance." Since it was first introduced in 1985, ABM/ABC has evolved considerably and has been applied in service companies, utilities, telecommunications, and government agencies. The use of activity-based management techniques has resulted in a much more accurate determination of the relative profitability of various business activities and, therefore, more profitable management decisions.

This clearly written, example-rich book shows managers, accountants, and financial officers how to put activity-based accounting into practice as quickly and efficiently as possible. This book includes ABM Best

Practices identified by CAM-I and the American Productivity and Quality Center in a recently completed land-mark study. Implementing Activity-Based Management in Daily Operations provides step-by-step guidance on how to implement ABM at the level of daily process operations, and demonstrates, through numerous detailed examples, its benefits for cost management. Applications to a variety of organizations are covered, including service companies, government agencies, and process industries. Practical linkages between ABM/ABC and Total Quality Management and Business Process Reengineering are explained and illustrated.

Implementing Activity-Based Man-agement in Daily Operations covers all aspects of ABM, from activity/product costing, through activity analysis and data gathering, to on-going system requirements and full integration. It is designed for all members of an organization involved in reaping the significant benefits of this new cost management methodology. ... Read more

Book Description

ABC: Your Blueprint for Success. ``Cokins' ability illustrate the effectiveness of ABC to those unfamiliar with financial applications and terminology is a major strength of his book. It should be required reading for companies that need to strengthen their commitment to ABC/ABM.''--Dan E. Cowan, Manager, Finance Training and Education, Chrysler Corporation. Activity-based costing is today's superior method for both identifying improvement opportunities and measuring benefits of performance initiatives. Read Gary Cokins' book Activity-Based Cost Management: Making It Work for every answer you need on executing and sustaining an effective ABC management system, explanations on why you should use ABC and explicit, clear-cut descriptions of steps you must take to implement ABC into your company. ... Read more

Reviews (17)

This book really is a fine stuff!
I've read several books about ABC/M, and I just can say that Gary Cokins is an excellent writter, Gary explains the concepts very clearly and then lays out a detailed and well thought out strategy for implementation. The graphics are excellent, When you already read this book, you can review it as a presentation just looking the figures and graphics inside.

The authorative work on ABC/ABM
I am implementing ABC/ABM in a medium sized multinational company, and this is required reading for my teams. I've read most of the comprehensive ABC/ABM books, and this is by far the best. Gary explains the concepts very clearly and then lays out a detailed and well thought out strategy for implementation. The book is also loaded with illustrations that are literally a blueprint for making ABC/ABM work. If you're doing ABC/ABM this is a must.

Excellent Coverage of ABC
This is a clearly written and an exceptionally well illustrated explanation of Activity-Based Costing. If you are only going to read one book on ABC, this would be a good one to have.

Very Good Source of ABC Information
Gary has given us a very well written and exceptionally well illustrated guide to Activity-Based Costing. If you only read one book on ABC, make this it.

Cost Accounting Evolves
Gary Cokins is an internationally recognized an internationally know expert on cost management and performance improvement systems.

He wrote this book in 1996 to help managers see the interconnections between time, quality, capacity, flexibility and cost in an effort to achieve superior payback performance using product and service costing techniques that were more realistic and accurate than that day's cost accounting systems.

Written in clear language with pertinent examples, the book provides managers with a framework for managers to map cost flows, increase profits, improve decision-making and implement activity-based cost management. Although the system is complex, Cokin remains down-to-earth and pointed in his analysis. ... Read more

Reviews (2)

It's a complete guide!
This book not only gives the mechanics of accounting for non-profits, but more importantly, provides tools for financial and resource decision-making. A must for non-profit managers!

It's a complete guide!
This book covers not only the mechanics of accounting for non-profits, but more importantly, the tools to guide financial and resource decision-making. Very good book! ... Read more

Book Description

Instructs on methods of business budgeting, setting prices of goods and services, calculating profits, and applying cost analysis principles to non-routine business decisions. Emphasis in this series of books is on practical day-by-day business operation and problem solving for men and women starting a company or managing an ongoing small-to-medium-size business. Problems and examples are based on realistic business situations. ... Read more

Reviews (2)

Great overview of cost accounting for manufacturing
This little book is a wonderful review of all the things you need to consider if you are doing accounting in a manufacturing concern. The ideas are applicable as well for service organizations but the examples are geared toward accounting for manufactured products. The authors talk about when or why you would use a certain type of costing method rather than just explain how it's done. For example, they explain the reason for using Just In Time costing and the benefits over traditional cost accounting and describe what performance measures you would use with each system. I'm only halfway through my libray copy but have decided to buy my own to keep for reference.

More Practical than Theory!
This is a very well - organized introduction to cost accounting. There are some very useful chapters on cost behavior and cost estimation, as well as cost-volume-profit and break even analysis. The theory is very clear, however, the quantitative examples are basic. Not a complete study guide for the MBA student, but a great compendium to supplement theory and basic understanding. Plus, if you own several volumes from the Barron's Business Library you get the bonus of having them look cool on the bookshelf! ... Read more

Book Description

Contains chapter focus suggestions, read and recall questions, and self-test questions. ... Read more

Book Description

Risk is a part of life, and in today’s fast-paced market environment, financial risk is something every investment professional must face. The fundamental question is "How can you control, contain, and minimize the risk of your and/or your clients’ investments?" With The Handbook of Risk at your side, you’ll quickly learn how to deal with investment risk, mainly through the insights and advice of the most qualified professionals in the business.

The Handbook of Risk is composed of sixteen informative chapters, each written by a leading risk expert who explores the nature of risk, the measurement of risk, and the view of risk from an investment professional’s perspective. Editor Ben Warwick includes such articles as . . .

• The Failure of Invariance by Peter L. Bernstein
• A New Paradigm for Portfolio Risk by Robert H. Jeffrey
• The Case for Relevancy of Downside Risk Measures by David Nawrocki
• Hedge Fund Risk by Brian Cornell

. . . that will put you on the right track to risk management.

Pulling together the best minds in the risk management business, The Handbook of Risk clearly illustrates and analyzes the many aspects of modern risk management and shows you how to deal with them. Don’t pass up this opportunity to learn from the best. Pick up The Handbook of Risk and broaden your risk management horizons. ... Read more

Book Description

Essential Budget Planning for the 21st Century Corporation

Today’s corporations are more competitive, dynamic, and, consequently, more powerful and successful than ever before. As a result, the days when corporate budgeting was merely an obligatory, routine process of estimating the coming year’s revenues and expenses have long ended. Successful corporations are constantly improving their ability to predict their future operations and their related resource requirements, enabling them to adjust their plans as needed and stay ahead of the competition. Not only does this heighten the importance of the budgeting and planning process, but it also changes the traditional roles of spreadsheets, legacy budget systems, and software created in-house. Budgeting shows corporations how to achieve and maintain their edge through modern budgeting systems and the use of good budgeting software. This book provides comprehensive guidance through the range of considerations that are crucial to streamlining the budget planning process:

• What corporations should be looking for when buying or building a new budgeting solution
• How to select the right budgeting solution from the field of vendors
• How to successfully implement a new budgeting solution
• How to fully utilize the Web

. . . plus helpful lists and questionnaires, and interviews with managers from leading companies who have effectively created internal processes and implemented software solutions. Equip your corporation to excel in the twenty-first century with the tools and information offered in this invaluable resource. ... Read more

Reviews (1)

Excellent for software selection and implementation
I found this book to be very practically oriented and extremely helpful for me to understand new trends in budgeting, but most of all to help me plan for the purchase and implementation of a new budgeting software in our corporation. It helped us find qualified vendors, and the attached RFP (which also was downloadable as a Word file from the publisher's Web-site) literally saved us thousands of dollars by eliminating the need to write an RFP from scratch. I also found the various report examples, contract examples and the sample project plan very useful. Overall, this was the only book I have found on modern budgeting and budgeting software, and I was pleasantly surprised how helpful it has been to us. ... Read more

Book Description

Strategies for Cost-Effective E-Business ERP Implementation—in the Shortened Time Horizons of the Internet Age

The need for seamless Enterprise Resource Planning (ERP) and e-business implementation is nothing new. What is new is the shorter time frames that now dominate the organizational landscape. Projects that used to take years to complete must now be up and running in a matter of months or even weeks. Moreover, they must be done successfully—the first time.

E-Business and ERP is the first book to detail the many aspects of organizing an ERP or e-business project for rapid implementation. This comprehensive guidebook—produced by an experienced manager of rapid application implementation projects—explains how to:

• Rapidly implement systems that meet current requirements and are easily adaptable to encompass the next generation of technology
• Better understand and manage the risks associated with such projects
• Understand outsourcing alternatives and the use of application service alternatives

The potential returns from implementing new e-business ERP applications have skyrocketed. Let E-Business and ERP supply you with all the information you need to develop a core competency in rapid implementation of packaged business applications—and take the fullest profitable advantage of today’s evolving e-business opportunities. ... Read more

Reviews (4)

Packed with Knowledge!
Implementing new software into your company's core businesses processes is a painful procedure. Technically challenged readers might well find some pain in the pages of this book, but the agony is no fault of the author. The topic at hand, integrating new software applications packages with current systems, is one of the most complex and difficult challenges in all of business. We from getAbstract recommend that you take your medicine like a man (or a woman) and read this comprehensive guide to meshing new software with your old business. You are sure to benefit from its practical strategies and management techniques, as will your company.

Structured, Realistic and Well Thought Out
This book covers what it takes to successfully manage a rapid implementation project for any enterprise-wide application. It does so in a structured and realistic manner that addresses risks, critical success factors and common deliverables. Project management is much more than common sense - it requires a process and skillful use of PM techniques, such as those contained in PMI's Project Management Body of Knowledge (PMBOK). This is reinforced by the appalling number of IT projects that either fail or are cancelled. While this book doesn't go deeply into specific PM techniques, nor does it especially align to the PMBOK, it does provide a realistic framework. It also gives a complete list of risks and barriers to success that you'll encounter in ERP and other complex systems projects.

I especially like the way the author decomposes the systems into layers and the project approach into phases. These allow you to step back and see the big picture, and to do a better job of estimating scope, complexity and required resources before embarking on the project. The project management approach itself is solid, and is linked to critical success factors that will make or break any project. He also provides excellent advice on team management, and especially team communications and cross functions.

Managing complex projects are not easy, and this book contains no short cuts. It does show you how to plan and control a rapid implementation project for any enterprise system, and if the advice and general approach provided in this book is heeded and followed your chances for success will be dramatically improved. Just don't let anyone who thinks it's a matter of plain common sense anywhere near the project because you'll find the project to be just another statistic in the boneyard of failed IT projects.

Too shallow
To read this book is a waste of time, to buy it is a waste of money. Too much of it is common sense (given that project management is to a good degree made of common sense) and not specifically adjusted to E-Business/ERP projects. The general approach is to do everything faster, but the authors forget that changing volume or quantity of work is affecting the quality too. To take one step out of a 'normal' project plan (realization) and rename it 'rapid implementation' is not enough to live up to the new (and old) challenges that come with implementing E-business and/or ERP solutions. The title of the book is misleading, as the authors are not presenting approaches that should be taken by project managers faced with such an implementation. No specific risks or solutions are laid out that come with such an implementation i.e. interface development, integrating different applications, data exchange etc. If you are an experienced project manager looking for a guidebook this book tells you nothing new, if you are an aspiring project manager this book is not providing enough.

Strong project approach, some gaps - overall: valuable
This book provides a sound approach to planning and managing an ERP rapid implementation project, but falls short of the mark on the "E-Business" part alluded to in the title.

First, the strengths: the rapid implementation roadmap that is the topic of chapter 2 is thorough and well thought out. The phases are commit [to the project], start, manage, analyze, configure, test, change, support, convert, prepare, go live and improve. The roadmap gives both structure to a project plan and breaks it down into manageable pieces.

Chapter 3 covers vendor selection, and provides excellent material for developing RFIs and RFPs and evaluating responses from vendors. Among the best practices given here are identifying key requirements, focusing on what is essential and using a proof-of-concept approach. Managing the rapid implementation, chapter 4's topic, is comprehensive and is consistent with sound project management practices. Key areas that are particularly strong address taking a deliverables-based approach, managing scope and project issue management. These are the ingredients of a successful implementation and the author covers them in depth. Chapter 5 covers the people part of the equation by providing guidance on how to organize the implementation team, roles and responsibilities, and managing change. My favorite two chapters are 6 and 8. Chapter 6 addresses nine essential factors for success, the best (in my opinion) is the rule that no reengineering is allowed during the implementation. This is sage advice because if you attempt to take advantage of opportunities to reengineer you are going to quickly drift outside of project scope, not to mention slowing to a crawl what is supposed to be a rapid implementation. Chapter 8, my other favorite chapter, gives a list of "project accelerators", which are methods or processes that will ensure that the rapid implementation is rapid.

Weaknesses: (1) The author does not address E-business despite the title of this book. I am going to assume that the publisher insisted on including that in the title. (2) There are some glaring gaps in the author's "eXtended Enterprise System" (EXS) framework. He cites six layers using the technical infrastructure as the foundation and moving up through a transactional backbone, advanced applications, cross-application repository and a management dashboard as the capstone. What is missing from the picture is middleware, including transaction monitors, message queuing and the other "glue" that holds together an enterprise architecture. While this book is more suited for project managers, the omission is serious because the middleware layer increases the scope and complexity of an ERP project as well as the cost. (3) Technology support issues (chapter 7) was not strong in identifying release criteria to production, not the artifacts that production needs in order to support an ERP system. Release to production is a critical point in the life cycle that affects IT service delivery, as well as operational considerations (performance and capacity baselines, workload scheduling, etc.).

Recommendation: The rapid implementation approach given in this book is complete and attainable. The author gives practical advice that can be applied to not only ERP implementations, but other system implementations as well. As such, this is a good book for project managers and upper IT management. If you note the gaps I cited above and take them into account, this book will lead you through a successful implementation. I am subtracting a star for the misleading title and the weaknesses, but still highly recommend this book. ... Read more

Book Description

New costing procedures for a new economic age

Increasing global competition is causing upheaval in every area of industry and commerce. An explosion in the use of advanced technologies is continuing to fundamentally revolutionize the way we go about doing business. These factors are in turn driving dramatic reductions in product life cycles (the average product life cycle is now well under five years) and exerting tremendous pressure on profit margins. The effect has been to substantially change cost structures with their traditional focus on direct labor and arbitrary allocation of overhead. Yet we continue to measure cost in the old way.

Now, here's a book that shows you how to update your accounting procedures in order to effectively accommodate these significant changes. Step by step, Activity Accounting: An Activity-Based Costing Approach describes activity accounting in a clear, concise manner. It emphasizes the strengths and benefits of an activity-based approach to business management and demonstrates how you can apply activity accounting to your organization.

Activity-based accounting is an essential tool for running your business in the 90s. This book is a must-have tool for learning how to master it. ... Read more

Reviews (1)

Recommended
Without question, if you want to know where all the money's going (especially in companies of 100+) employees, ABC is the tool to use. Mr. Brimson's book is one of several books I have read on the topic and it is also, in my opinion, the best. By investing one or two evenings reading this one book, you will have an opportunity to understand not only what it is (and what it is not) in plain English, but you may also be capable and confident enough to participate in the process as well ... Read more

Book Description

Corporate Accounting

The ABCs of ABM

Activity-based management (ABM) has already proven extremely valuable to manufacturers in helping them cut waste, improve quality, reduce cycle times, and get their products to market faster. Now revised and expanded, this indispensable resource illustrates how ABM can be applied to all types of organizations—including service groups, government agencies, and nonprofit entities—and any department within them.

Using a variety of examples, authors James A. Brimson and John Antos examine a company structure and break down its separate activities to measure each activity's cost/performance effectiveness. Introducing an innovative five-step approach to calculating activity cost, they provide tangible performance criteria linked to time, value, service, quality, flexibility, cost, and performance-to-schedule, and demonstrate how to use activity analysis to ensure that price structure is reflective of total costs.

A vital tool for modern times, this is essential reading for CEOs, operations executives, controllers, managers, and others who are seeking a comprehensive, up-to-date guide on activity-based management and its proper implementation. ... Read more

Book Description

• Proven real-life strategies to maximize cash flow
• Best techniques to enhance the order-to-cash cycle
• Innovative ways to revamp the purchase-to-pay cycle
• Cash-generating tactics when selling to dot-coms, other start-ups, and bankrupt customers

Full of valuable tips, techniques, illustrative real-world examples, exhibits, and best practices, this handy and concise paperback will help you stay up to date on the newest thinking, strategies, developments, and technologies in cash flow.

"Loaded with practical tips and techniques on how a company can improve its cash flow. Timely, given the recent rash of bankruptcies and stories on questionable accounting practices. Mr. Schaeffer’s book highlights why today’s credit professional needs to pay particular attention to the cash flow statement when analyzing a customer’s creditworthiness."
–Raymond E. Blatz, Division Manager, AT&T Business Services
Revenue Assurance Management

"Essentials of Cash Flow is a great cash flow primer. Mr. Schaeffer effectively takes us from the basics to the essentials of cash flow using down-to-earth dialogue and real-world examples. I can see this book becoming a must in the library of all entrepreneurs and business managers."
–James Stephenson, Vice President, Finance
Clougherty Packing Company ... Read more

Book Description

This study aid provides suggestions for studying chapter material, summarizes essential points in each chapter, and tests students’ knowledge using self-test questions and exercises. ... Read more