Management and Cost Accounting

Management and Cost Accounting has been the basic toolbox in business administration for decades. Today, it is an integral part of all business education curricula, and no student can afford to be unfamiliar with its fundamental concepts and methods. At the same time, business in general and management accounting in particular has become increasingly international. English has firmly established itself as the "lingua franca" of international business. Academics, students, and practitioners alike exchange ideas, discuss concepts, and communicate in English this is equally true for cost and management accounting. The second edition of Management and Cost Accounting has been completely updated and revised, offering an English-language introduction to the key concepts and practices of cost and management accounting at the undergraduate level. It includes new examples, refreshed data, and addresses recent developments in management accounting. With its strong focus on practical applications and case studies, the textbook also serves as an excellent resource for MBA courses. This textbook covers all topics that are relevant in management accounting in business organizations and that are typically covered in German and Central European Bachelor classes on cost accounting and management accounting. Following an introduction that highlights the main differences between the German and Anglo-Saxon approaches to management accounting, the book explains cost concepts and terminology as applied in cost accounting offering more specificity than standard U.S. textbooks. It then explores cost behavior and the determination of cost functions. The core of the book guides the reader through the structure of a complete cost accounting system following the German and Central European model: from cost type accounting, through cost center accounting, to cost unit accounting, which assigns costs to products and services. Subsequent chapters address managerial decision-making and how management and cost accounting data support these processes. Topics such as absorption vs. variable costing, product portfolio and outsourcing decisions, and cost-volume-profit (break-even) analysis are covered in detail. The second edition further expands and updates the content, with new sections on cost management tools, project cost accounting, and cost accounting in the digital age, providing readers with insights into modern developments and digital applications in the field.