This book introduces, explains and demystifies essential ideas of cost accounting to those who do not have any financial background or training.
This book introduces, explains and demystifies essential ideas of cost accounting to those who do not have any financial background or training. Lucid and comprehensive, it delineates the cost application of business organizations and corporates and offers an overview of cost control and management in the global context.
The volume:
- Discusses fundamental concepts and the application of cost accounting and control;
- Contains effective tools for cost ascertainment, analysis, control, monitoring, and resource allocation;
- Surveys global corporate practices and recent trends in the domain of cost management and decision-making.
A guide to building cost proficiency and acumen, this book will be a useful resource for business managers and management students, as well as those who deal with cost or financial matters in their daily lives. It will be indispensable for executive and management development programmes (EDPs & MDPs). It is thoroughly updated to reflect the current global trends and real-world cases in the domain of costing, supplemented with a range of learning aids, including figures, tables, and illustrations.
Arvustused
This book is an invaluable resource for anyone seeking to learn about the essentials of cost accounting without a financial background. Written in a clear, concise, and comprehensive manner, it simplifies complex concepts while offering practical insights into cost control and management with real-world examples, and global perspectives. This book is a must-read for students and professionals in understanding cost management and making informed financial decisions in todays competitive landscape.
Zabihollah Zabi Rezaee, Thompson-Hill Chair of Excellence and Professor of Accountancy, Fogelman College of Business & Economics, The University of Memphis, US
"Prof. Sandeep beautifully highlights the essence of cost accounting in business decision-making and methodologically discusses methods and techniques of cost management in his book and helps businesses understand their expense, improve efficiency and make informed decisions, ultimately leading to increased profitability. It aptly meets the expectations of their readers. I highly recommend it. The book is well-structured and complements the subject perfectly."
Monica Singhania (FCA), Professor of Finance and Accounting, Faculty of Management Studies, University of Delhi, India
PART I: COST ALLOCATION;
1. Cost concepts and classification;
2.
Activity-Based Costing;
3. Job Costing;
4. Process Costing; PART II: COST
CONTROL;
5. Budgetary control;
6. Standard Costing;
7. Responsibility
Accounting; PART III: COST DECISION-MAKING;
8. Marginal costing and
managerial decision-making;
9. Target Costing
Sandeep Goel is a Senior Professor of Accounting and Finance and Corporate Governance at Management Development Institute (MDI) Gurgaon, India. He holds two doctorates, one in Finance; and another in Accounting from the Faculty of Management Studies, University of Delhi. He completed his bachelors with Hons. and masters degrees in Commerce with specialisation in Finance from Shri Ram College of Commerce and the Department of Commerce, Delhi School of Economics, University of Delhi, respectively. He has three decades of industry and academic experience across various organisations and institutions of repute, including the Shri Ram Group, the University of Delhi and MDI Gurgaon. He sits as an Independent Director on the Board of Machino Plastics Ltd., Gurugram, a Suzuki JV. He is a Visiting Professor to the Faculty of Management, University of Lodz, Poland and Aix-Marseille Graduate School of Management IAE AIX-Marseille University, France. He is a Management Trainer and Consultant to Organisations like Maruti Suzuki, Canara Bank, JK Tyre, PFRDA, NPCI, IRS, ITS, FIA Business School (Brazil), Bata, Encore, Federal-Mogul Goetze (India) Ltd., SOS Village International, Cairns India, National Banking Institute (Nepal), Druk Holdings (Bhutan), UltraTech Cements, ONGC and many more. He is a prolific writer and has authored more than 15 books and published over 100 research articles and cases in national and international journals of repute. He has been conferred with the Award for Excellence in Teaching, 202324, 201516 and the Award for Excellence in Research, 201516 at MDI.
