COST MANAGEMENT & STRATEGIC APPFOOOACH

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The book is intended to fill the long-time requirements of the students for want of a book that is clearly written and contemporary, and provides a concise approach to cost management in the Indian context. It addresses current topics such as activity-based costing (ABC), economic value added (EVA) and balanced scorecard with Indian case studies. Every effort is made in this book to expose the students to the relevance ofcost concepts in managerial decision-making. The authors firmly believe that “costs result from management decisions” and do not implicitly accept the cost accounting philosophy that ‘costs happen’. This book can be of help to not only students but also faculty, professionals and managers engaged in understanding contemporary cost management concepts and techniques.

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S.C.Vaidya is a professor of Finance and Dean, Faculty of Business Management and Commerce, Panjab University, Chandigarh. Trained in the field of management in India and the UK, he is actively engaged in teaching and research in the fields of Management Accounting, Financial and Cost Management, Technology, Business and Development for the last three decades. Professor Vaidya has been providing consultancy and training executives at all levels in leading organizations, both in industry and the government, including international organizations. He is a recognized researcher with numerous national and international publications. Suveera Gill is an associate professor of Accounting and Finance at the University Business School, Panjab University, Chandigarh. She has to her credit national level research projects and technical publications in national and international journals. Her research interests include Strategic Cost Management, Corporate Governance, Investment Management, and Ethics in Higher Education. Dr. Gill is an associate member of the Society for Capital Market Research and Development, New Delhi. Table of Contents Preface 1. A Strategic Approach to Cost Management 2. Basic Cost Classifications and Methods 3. Design of Product and Service Systems: Job Order Costing 4. Design of Product and Service Systems: Process Costing 5. Cost Allocation and Activity-based Costing 6. Cost-Volume-Profit Analysis 7. Cost Information and Management Decisions 8. Capital Budgeting Decisions 9. Budgetary Planning and Control 10. Standard Costs and Variance Analysis 11. CustomerProfitability and Sales Variance Analysis 12. Cost Based Decision Making 13. Responsibility Accounting and Transfer Pricing 14. Performance Measurement and Compensation Appendix, Glossary, Index