Elsevier S & T

Contemporary management accounting practices in UK manufacturing

Dugdale, David

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Table of contents
  • Cover
  • Contentsv
  • Executive Summaryix
  • 1 Introduction1
  • 2 Literature Review and Historical Context9
  • Introduction11
  • A brief history of costing12
  • Relevance lost and regained: Recent developments37
  • Cost accounting practice in the 1990s47
  • 3 Methodology55
  • Origins of the project57
  • The initial pilot companies58
  • The secondary pilot companies62
  • The main study63
  • A concluding note on methods68
  • 4 The Presentation of Financial Information: The Definition of Contribution MarginŽ69
  • Introduction71
  • Issues of terminology72
  • Contribution companiesŽ: The definition of contribution76
  • Changing financial systems in ContributionŽ companies79
  • The presentation of financial results and the Relevance LostŽ thesis81
  • 5 Standard Costing and Variance Analysis83
  • Introduction85
  • Analysis of companies not employing standard costs (Table 5.1)86
  • The content of standard costs89
  • The inclusion of standard costs in the profit and loss account90
  • The use of variance analysis94
  • The purposes of standard costing98
  • Changing financial systems in standard costing companies102
  • Concluding comments103
  • 6 Interaction of Profit Reporting and Costing Systems105
  • Introduction107
  • The contribution concept combined with standard costing108
  • The contribution concept combined with actual costing115
  • The gross profit/margin concept combined with standard costing117
  • The gross profit/margin concept combined with actual costing120
  • Companies not easily classified as primarily contribution or gross margin oriented121
  • Conclusions: Margins, variances, costing systems and Relevance LostŽ122
  • 7 The Treatment of Overhead Costs127
  • Introduction129
  • Treatment of manufacturing overhead in internal financial reporting by companies employing contribut130
  • Treatment of manufacturing overhead in internal financial reporting by companies employing gross pro135
  • The analysis of overhead for responsibility, product or segmental reporting138
  • Activity-based costing146
  • Influences on choice of reporting system151
  • 8 Budgets, Forecasts and Performance Evaluation157
  • Introduction159
  • Budgeting159
  • Forecasting161
  • Making sense of financial performance: Segmental and comparative analyses168
  • Performance measurement and remuneration173
  • Conclusion177
  • 9 Conclusion179
  • Introduction181
  • Overview of research findings182
  • The “Relevance Lost" view of management accounting history190
  • 10 Recommendations195
  • Introduction197
  • Changing practices: Issues for reflection198
  • Research implications203
  • References209
  • Subject Index221
  • Author Index227
Book details
  • Vendor Elsevier S & T
  • SKU 9780750668712
  • ISBN-13 9780080492582
  • Author Dugdale, David
  • Category Business & Economics
  • Subject Financial

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This report investigates the presentation and analysis of financial information in 41 UK Manufacturing companies. Traditional and contemporary accounting techniques are exemplified in the case studies. With old and new techniques explored, the research shows that there is little that is new in management accounting theory and practice. The study concludes that there is not one set of practices which all should follow.

·Cima research report - reveals methods currently used for reporting financial information in UK manufacturing companies.
·Based on 41 companies, it shows a rich diversity of reporting practices that are constrained neither by the financial accounting requirements of SSAP9 nor by any sense of general management accounting trends.
·Financial Directors choose from a toolkit of ‘traditional' and ‘contemporary' practices in constructing reporting systems appropriate to their varied commercial needs, but with a strong leaning towards contribution margin approaches.