...Managerial Decision Making, Case 2, Greetings Inc. Activity Based Costing |Case 2 | | Greetings Inc.: Activity-Based Costing | |This case is from the book: Managerial Accounting: Tools for Business Decision | |Making, 5th Edition | |Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso | |©2010 | |And was answered by some students. | | | | | 1. Activity Based Costing benefits businesses that are more complex in nature. In this case, Greetings. INC has added a new product line, Wall Decor, which permits them to grow without expanding their physical stores; however, they have significantly raised their overhead costs by multiplying their cost drivers. Not to mention the fact that they have incorporated a largely automated system into their product line, which we know calls for an ABC system. The main reason to move to ABC though, I’d say, would be because it will allow management to make better decisions and move away from the “cash machine” and “lemonade stand” metaphor simply because overhead costs will be allocated in such a way that corresponds to either framed or unframed prints instead of considering the same overhead for both products. By doing so managers will be able to price the prints competitively while still maintaining a profitable margin. An activity-based costing system may be appropriate for Wall Décor, when overhead allocation based job-order costing provides product cost distortion. Wall Décor should change its costing system for selling...
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...Managerial Decision Making, Case 2, Greetings Inc. Activity Based Costing |Case 2 | | Greetings Inc.: Activity-Based Costing | |This case is from the book: Managerial Accounting: Tools for Business Decision | |Making, 5th Edition | |Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso | |©2010 | |And was answered by some students. | | | | | 1. Activity Based Costing benefits businesses that are more complex in nature. In this case, Greetings. INC has added a new product line, Wall Decor, which permits them to grow without expanding their physical stores; however, they have significantly raised their overhead costs by multiplying their cost drivers. Not to mention the fact that they have incorporated a largely automated system into their product line, which we know calls for an ABC system. The main reason to move to ABC though, I’d say, would be because it will allow management to make better decisions and move away from the “cash machine” and “lemonade stand” metaphor simply because overhead costs will be allocated in such a way that corresponds to either framed or unframed prints instead of considering the same overhead for both products. By doing so managers will be able to price the prints competitively while still maintaining a profitable margin. An activity-based costing system may be appropriate for Wall Décor, when overhead allocation based job-order costing provides product cost distortion. Wall Décor should change its costing system for selling its high volume...
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...CHAPTER 3 LEARNING OBJECTIVES After studying Chapter 3, you should be able to: Distinguish between process costing and job-order costing and identify companies that would use each costing method. 2. Identify the documents used in a job-order costing system. 3. Compute predetermined overhead rates and explain why estimated overhead costs (rather than actual overhead costs) are used in the costing process. 4. Record the journal entries that reflect the flow of costs in a job-order costing system. 5. Apply overhead cost to Work in Process using a predetermined overhead rate. 6. Prepare schedules of cost of goods manufactured and cost of goods sold. 7. Compute under- or overapplied overhead cost and prepare the journal entry to close the balance in Manufacturing Overhead to the appropriate accounts. 8. (Appendix 3A) Explain the implications of basing the predetermined overhead rate on activity at capacity rather than on estimated activity for the period. SYSTEMS DESIGN: JOB-ORDER COSTING OVERAPPLIED/UNDERAPPLIED Cris Griffiths Guitar Works of Saint Johns, Newfoundland, focuses on repair work and building custom guitars. Late one night while disassembling yet another guitar, Griffiths had a vision of a single bracing piece instead of the three-dozen separate internal reinforcements acoustic guitars typically have. “It was a simple idea that was easy to flesh out, but turning it from an idea into...
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...Journal of Intelligence Studies in Business JISIB is a peer review no-fee Open Access Journal. The journal publishes articles on topics such as Market Intelligence, Business Intelligence, Competitive Intelligence, Scientific and Technical Intelligenceand Geo-economics and their equivalent terms in other cultures. E.g. Intelligence Èconomique in France, Omvärldsanalys in Sweden or Konkurrenz-/Wettbewerbsforschung in Germany. This means that the journal has a managerial as well as an applied technical side (Information Systems), as these are now well integrated into real life Business Intelligence solutions. By focusing on business applications the journal do not compete directly with journals of Library Sciences or State/National or Military Intelligence studies. The journal do publish articles on Knowledge Management and Knowledge Transfer even though these are well developed areas with their own journals. JISIB occupies a niche. It currently caters to a defined group of scholars of some 400+ active individuals. It is supported by some estimated 5.000+ practitioners. It caters to specific conferences (ECIS,SIIE, VSST, SCIP, ITICTI, EBRF, ICI, ECKM, INOSA) where both academics and practitioners meet regularly. These conferences turn out some 300+ articles annually, of which some estimated 50+ can be considered potential full length scientific articles. JISIB will have 3 issues a year with about 5-10 articles in each. To strengthen the tie to practitioners a special...
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...Holst, SMAC Manager, Management Accounting Guidelines, for his continuing project supervision and to the members of the focus group (including MAC members Dennis Daly and Thomas Huff) for contributing to the improvement of the final document. Copyright © 1996 Institute of Management Accountants All rights reserved Statements on Management Accounting PRACTICE OF MANAGEMENT ACCOUNTING Value Chain Analysis for Assessing Competitive Advantage TABLE OF CONTENTS I. II. III. IV. Rationale . . . . . . . . . . . . . . . . . . . . . . . 1 Scope . . . . . . . . . . . . . . . . . . . . . . . . . 1 The Value Chain Defined . . . . . . . . . . . . .1 Competitive Advantage and Customer Value . . . . . . . . . . . . . . . . . . .2 V. The Role of the Management Accountant . . . . . . . . . . . . . . . . . . . . . . .4 VI. The Value Chain Approach for Assessing Competitive Advantage . . . . . .5 Internal Cost Analysis . . . . . . . . . . . . . . .5 Internal Differentiation Analysis . . . . . . .10 Vertical Linkage Analysis . . . . . . . . . . . .13 VII. Strategic Frameworks for Value Chain Analysis . . . . . . . . . . . . . . .17 Exhibits...
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...Simkin, Ph.D. Professor Department of Accounting and Information Systems University of Nevada Jacob M. Rose, Ph.D. Professor Department of Accounting and Finance University of New Hampshire Carolyn Strand Norman, Ph.D., CPA Professor Department of Accounting Virginia Commonwealth University JOHN WILEY & SONS, INC. VICE PRESIDENT & PUBLISHER SENIOR ACQUISITIONS EDITOR PROJECT EDITOR ASSOCIATE EDITOR SENIOR EDITORIAL ASSISTANT PRODUCTION MANAGER PRODUCTION EDITOR MARKETING MANAGER CREATIVE DIRECTOR SENIOR DESIGNER PRODUCTION MANAGEMENT SERVICES SENIOR ILLUSTRATION EDITOR PHOTO EDITOR MEDIA EDITOR COVER PHOTO George Hoffman Michael McDonald Brian Kamins Sarah Vernon Jacqueline Kepping Dorothy Sinclair Erin Bascom Karolina Zarychta Harry Nolan Wendy Lai Laserwords Maine Anna Melhorn Elle Wagner Greg Chaput Maciej Frolow/Brand X/Getty Images, Inc. This book was set in 10/12pt Garamond by Laserwords Private Limited, and printed and bound by RR Donnelley/Jefferson City. The cover was printed by RR Donnelley/Jefferson City. This book is printed on acid free paper. Founded in 1807, John Wiley & Sons, Inc. has been a valued source of knowledge and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Our company is built on a foundation of principles that include responsibility to the communities we serve and where we live and work. In 2008, we launched a Corporate ...
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...CONNECT FEATURES Interactive Applications Interactive Applications offer a variety of automatically graded exercises that require students to apply key concepts. Whether the assignment includes a click and drag, video case, or decision generator, these applications provide instant feedback and progress tracking for students and detailed results for the instructor. Case Exercises The Connect platform also includes author-developed case exercises for all 12 cases in this edition that require students to work through answers to assignment questions for each case. These exercises have multiple components and can include: calculating assorted financial ratios to assess a company’s financial performance and balance sheet strength, identifying a company’s strategy, doing five-forces and driving-forces analysis, doing a SWOT analysis, and recommending actions to improve company performance. The content of these case exercises is tailored to match the circumstances presented in each case, calling upon students to do whatever strategic thinking and strategic analysis is called for to arrive at a pragmatic, analysis-based action recommendation for improving company performance. eBook Connect Plus includes a media-rich eBook that allows you to share your notes with your students. Your students can insert and review their own notes, highlight the text, search for specific information, and interact with media resources. Using an eBook with Connect Plus gives your...
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...MIS Mini-cases -- 1 of 30 Cases for Use in Management Information Systems MIS Mini-cases -- 2 of 30 MIS Mini-cases -- 3 of 30 Case 01 -- Freeway Ford You are a management consultant working for Franklin Absolom, the majority stockholder for a group of 10 automobile dealerships. He has asked you to spend several days at Freeway Ford, a dealership that is not performing up to its potential. You are not to go ―looking for trouble‖: instead, your assignment is to find ways to help management at the dealership take advantage of opportunities. One day while you are talking with James Kahler, the sales manager for Freeway Ford, you realize that the dealership only uses transaction processing systems—it is not realizing the full potential of the information it has gathered for managerial decision making. For example, Freeway Ford knows the purchase date and owner of every car it sells, but it never contacts owner about routine maintenance. Freeway Ford know that people who purchase a new car generally trade it in for another new car 3 to 4 years later, but the dealership does not contact these previous customers. Another opportunity comes from used car purchasing and sales. Every car has a vehicle identification number (VIN), and the dealership uses this number to check for known problems with a used car before it makes a purchase. A data bank of car insurance claims histories and major repairs is kept on a set of CDs that is sent to the dealership each month. At the...
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...Carbondale John Wiley & Sons, Inc. http://www.wiley.com/college ACQUISITIONS EDITOR MARKETING MANAGER SENIOR PRODUCTION EDITOR SENIOR DESIGNER PRODUCTION MANAGEMENT SERVICES COVER IMAGE Jeff Marshall Ilse Wolfe Patricia McFadden Harry Nolan Hermitage Publishing Services José Ortega/Stock Illustration Source This book was set in 10/12 Garamond by Hermitage Publishing Services and printed and bound by Malloy Lithographing, Inc. The cover was printed by Von Hoffmann Press, Inc. This book is printed on acid-free paper. Copyright 2003 © John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 750-4470. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 605 Third Avenue, New York, NY 10158-0012, (212) 850-6011, fax (212) 850-6008, E-Mail: PERMREQ@WILEY.COM. To order books please call 1(800)-225-5945. ISBN 0-471-20366-1 ISBN 0-471-38448-8 (WIE) Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 To Sudha Pennathur &...
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...This page intentionally left blank Copyright © 2007, New Age International (P) Ltd., Publishers Published by New Age International (P) Ltd., Publishers All rights reserved. No part of this ebook may be reproduced in any form, by photostat, microfilm, xerography, or any other means, or incorporated into any information retrieval system, electronic or mechanical, without the written permission of the publisher. All inquiries should be emailed to rights@newagepublishers.com ISBN (13) : 978-81-224-2487-4 PUBLISHING FOR ONE WORLD NEW AGE INTERNATIONAL (P) LIMITED, PUBLISHERS 4835/24, Ansari Road, Daryaganj, New Delhi - 110002 Visit us at www.newagepublishers.com CONTENTS xvii Dedicated to My Parents Shri Gopalrao and Gayabai Kondalkar This page intentionally left blank Preface Globalisation, technology advancement, open market system and desire of human beings to excel in the field one works has increased competitiveness and resultant work stress. Management of human behaviour and chanalizing it into correct direction has become important. Application of motivational theories, art of leadership and skill of redesigning jobs and modification to organisational structure is an on going process that facilitates positive work environment leading to increased job satisfaction of employees, greater productivity and organizational growth. Due to scientific advancement managing human resources is more challenging. It has been observed that everybody...
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...Customer Relationship Management VSF This book is dedicated to my children Emma and Lewis of whom I am enormously proud. Customer Relationship Management Concepts and Technologies Second edition Francis Buttle AMSTERDAM • BOSTON • HEIDELBERG • LONDON • NEW YORK • OXFORD PARIS • SAN DIEGO • SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Butterworth-Heinemann is an imprint of Elsevier Butterworth-Heinemann is an imprint of Elsevier Linacre House, Jordan Hill, Oxford OX2 8DP 30 Corporate Drive, Suite 400, Burlington, MA 01803, USA First edition 2009 Copyright © 2009, Francis Buttle Published by Elsevier Ltd. All rights reserved. The right of Francis Buttle to be identified as the author of this work has been asserted in accordance with the Copyright, Designs and Patents Act 1988 No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher. Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone ( 44) (0) 1865 843830; fax: ( 44) (0) 1865 853333; email: permissions@elsevier.com. Alternatively you can submit your request online by visiting the Elsevier web site at http://elsevier.com/locate/ permissions, and selecting Obtaining permission to use Elsevier material. Notice No responsibility is assumed by the publisher for any injury and/or damage...
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...Wendy Lai Ingrao Associates This book was set in 10/12 ITC Garamond light by MPS Limited and printed and bound by RRD/Jefferson City. The cover was printed by RRD/Jefferson City. This book is printed on acid free paper. Copyright © 2013, 2010, 2007, 2002, 1999 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774, (201)748-6011, fax (201)748-6008, website http://www.wiley.com/go/permissions. To order books or for customer service, please call 1-800-CALL WILEY (225-5945). ISBN 13 9781118369975 Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 This book is dedicated to the Newest Generation:...
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...Learning with Cases INTRODUCTION The case study method of teaching used in management education is quite different from most of the methods of teaching used at the school and undergraduate course levels. Unlike traditional lecture-based teaching where student participation in the classroom is minimal, the case method is an active learning method, which requires participation and involvement from the student in the classroom. For students who have been exposed only to the traditional teaching methods, this calls for a major change in their approach to learning. This introduction is intended to provide students with some basic information about the case method, and guidelines about what they must do to gain the maximum benefit from the method. We begin by taking a brief look at what case studies are, and how they are used in the classroom. Then we discuss what the student needs to do to prepare for a class, and what she can expect during the case discussion. We also explain how student performance is evaluated in a case study based course. Finally, we describe the benefits a student of management can expect to gain through the use of the case method. WHAT IS A CASE STUDY? There is no universally accepted definition for a case study, and the case method means different things to different people. Consequently, all case studies are not structured similarly, and variations abound in terms of style, structure and approach. Case material ranges from small caselets (a few paragraphs...
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...Director of Marketing: Maggie Moylen Executive Marketing Manager: Anne Fahlgren Project Manager Team Lead: Judy Leale Project Manager: Thomas Benfatti Operations Specialist: Nancy Maneri Cover Designer: Suzanne Behnke Creative Director: Jayne Conte Digital Production Project Manager: Lisa Rinaldi Full Service Vendor: Integra Software Services Pvt. Ltd. Full Service Project Manager: Anandakrishnan Natarajan/Integra Software Services Printer/Binder: Courier/Westford Cover Printer: Lehigh-Phoenix Text Font: 10/12, ITC Garamond Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text (or on page xix). Copyright © 2015 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or...
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...The Truth: About Managing People . . . and Nothing but the Truth Stephen P. Robbins, Ph.D. PEARSON EDUCATION, INC. “If someone wants to unleash the truth of people management, read this book. Author Robbins addresses the most critical challenges organizations face today in a concise and entertaining way.” — SUBIR CHOWDHURY Executive Vice President, American Supplier Institute Author of the best-selling The Power of Six Sigma and The Talent Era: Achieving a High Return On Talent “Stephen Robbins does it again! A prolific scholar and writer, he cuts through the research and theory to deliver immediately useful and essential insights for the effective management of people. I have never seen anything quite like The Truth. Excellent for all of us who don’t take the time to keep up with leading edge thinking and practice in the field of management.” — ERIC G. STEPHAN, Professor Organizational Leadership & Strategy Marriott School of Management, Brigham Young University “This is a clever book. Stephen Robbins has put together a book I wish I had written. It’s a quick reference written for practicing managers, social scientists, and anyone interested in managing people. Robbins’‘best of ’ approach, as well as the reference materials each section draws on, make this book a ‘must have’ for practical, reliable, and valid information on the important leadership/management/people topics of the day.” — RANDALL P WHITE, PH.D. . Principal, The Executive Development Group LLC Co-author...
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