This must-have reference covers all of the major areas of cost accounting and analysis including product costing, relevant costs, cost-volume analysis, performance evaluation, transfer pricing, and capital budgeting.
- Includes methods of reorganizing, classifying, allocating, aggregating, and reporting actual costs and comparing them with standard costs.
- Equips experienced cost accountants with a reference tool and students with a thorough textbook.
- Provides numerous examples, succinct language, chapter review, glossary, and appendices.
- Includes an abundance of exercises, many of which are based on exam questions from the CPA and CMA exams.
Preface xv
About the Authors xix
CHAPTER 1
The Changing Role of the CFO: From Accounting to Accountable 1
SOX Act of 2002 and the CFO 2
Expanded Responsibilities of the CFO 6
Our Agenda 14
Part One
Funding 15
CHAPTER 2
Capital Structure Decisions 17
Debt versus Equity 18
Concept of Leverage 21
Capital Structure and Financial Leverage 25
Financial Leverage and Risk 29
Capital Structure and Taxes 31
Capital Structure and Financial Distress 37
Cost of Capital 41
Agency Relationship 43
Optimal Capital Structure: Theory and Practice 47
A Capital Structure Prescription 51
Bottom Line 52
Appendix: Capital Structure Theory—The Modigliani-Miller Theory and Beyond 53
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