Management and Cost Accounting in South Africa, Student Manual, 1st Edition

Colin Drury, William Arthur Bishop

Copyright 2023
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Management and Cost Accounting in South Africa, Student Manual 1st Edition by Colin Drury/William Arthur Bishop

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Overview
Meet the Authors
Features
Table of Contents
Pricing

Overview

For over forty years, Management and Cost Accounting has helped learners master the intricacies of accounting through a successful blend of theory and practice.

The Student Manual is a practical companion to the corresponding South African edition, Management and Cost Accounting in South Africa, featuring a wealth of questions for each chapter topic which empower students to practise and reinforce key concepts of management and cost accounting using South African examples and currency.

Meet the Authors

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Colin Drury

The late Colin Drury was at Huddersfield University from 1970 until his retirement in 2004, when he was awarded the title of Emeritus Professor. For the last 40 years, Professor Colin Drury had been at the forefront of helping students learn the key concepts and processes in management and cost accounting through his bestselling textbooks, which have been widely recommended by the main professional accounting bodies for their examinations. He was an active researcher throughout his career and his research had been published in around 100 professional and academic journals. In recognition for his contribution to accounting education and research, Drury was given a lifetime achievement award by the British Accounting Association in 2009. Drury’s Flagship title Management and Cost Accounting was first published in 1985 and is now in its 11th edition. It established itself as one of the leading management accounting textbooks in EMEA. It is known, not just for its rigour and authority, but particularly for Drury’s down-to-earth style that reflected his background as a practising accountant before his involvement in academia.

William Arthur Bishop

William Arthur Bishop is a registered Chartered Accountant of South Africa and a senior lecturer in Management Accounting in the School of Accountancy at Stellenbosch University. He has a passion for teaching and started pursuing a career in academia after working as a quality assurance manager at a firm in Cape Town. His current research focus is in the field of business management.

Features

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A huge variety of problems gives students the opportunity to apply theory to practice and hone their problem-solving skills.
Questions are ranked in an ascending order of difficulty, making it easy to select the appropriate level.
Fully worked solutions to all exercises encourage independent practice and ensure students can easily review their answers to study effectively.

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Preface

Part I Questions
Introduction to management accounting
An introduction to cost terms and concepts
Cost estimation and cost behaviour
Cost assignment
Activity-based costing
Accounting entries for a job costing system
Absorption and variable costing systems
Joint and by-product costing
Process costing
Costvolumeprofit analysis
Measuring relevant costs and revenues for decision-making
Pricing decisions and profitability analysis
Decision-making under conditions of risk and uncertainty
Capital investment decisions: appraisal methods
Capital investment decisions: the impact of capital rationing, taxation, inflation and risk
The budgeting process
Management control systems
Standard costing and variance analysis I
Standard costing and variance analysis 2: further aspects
Divisional financial performance measures
Transfer pricing in divisionalised companies
Strategic performance management
Strategic cost management and value creation
EXAMPLES of SAICA questions

Part II Solutions
Introduction to management accounting
An introduction to cost terms and concepts
Cost estimation and cost behaviour
Cost assignment
Activity-based costing
Accounting entries for a job costing system
Absorption and variable costing systems
Joint and by-product costing
Process costing
Costvolumeprofit analysis
Measuring relevant costs and revenues for decision-making
Pricing decisions and profitability analysis
Decision-making under conditions of risk and uncertainty
Capital investment decisions: appraisal methods
Capital investment decisions: the impact of capital rationing, taxation, inflation and risk
The budgeting process
Management control systems
Standard costing and variance analysis I
Standard costing and variance analysis 2: further aspects
Divisional financial performance measures
Transfer pricing in divisionalised companies
Strategic performance management
Strategic cost management and value creation
EXAMPLES of SAICA questions – Solutions