The new manufacturing environment requires new cost-accounting
systems as well as new technology. While some authorities have
advocated installing new and untried systems, the authors of this
book recommend updating the standard cost system which 85 percent
of manufacturing firms have in place. Updating the present system
can achieve greater benefits in terms of providing information to
managers for decision making. It also allows the organization to
avoid disruption to the corporate culture and the cost associated
with a new system. The authors show how standard cost systems can
be redesigned to measure factors recognized to be important in
today's manufacturing environment such as quality, production
levels, and throughput. They demonstrate how standard cost systems
can foster continuous improvement through dynamic rather than
static standards.
After examining characteristics of the new manufacturing
environment and benefits of upgrading the cost system, ways to
update the traditional standard cost system are discussed.
Revisions include a unique input-output method of variance
analysis, specific metrics related to manufacturing performance,
ways to identify cost drivers, and use of dynamic standards. The
authors demonstrate how to redesign the information-gathering and
reporting system as new manufacturing procedures are put in place.
They discuss ways that marketing activities are affected and how to
plan plant and equipment expenditures in an automated environment.
This book is directed primarily towards accountants and managers
needing to improve informational content of accounting data for
decision-making purposes. It should also be beneficial to any
person within the business firm who either supplies data of this
type or uses it, such as project analysts, controllers, managers,
and even management trainees. Academicians teaching cost and
managerial accounting as well as those teaching production
management and financial decision-making courses should find it
beneficial as a text supplement or as a primary text in courses
dealing with current problems in today's changing manufacturing
environment.
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