Comprehensive but somewhat technical (not very suitable for most beginners), 27 Jun 2006
I want to agree with the previous, rather brief reviewer who found this book to be somewhat complicated.

While it certainly IS very comprehensive (as in it covers all you want to know, plus more), the manner in which the material is presented at times comes accross overly technical and complicated - especially for the novice. Furthermore, the layout, while visually appealing, doesn't seem thought through properly. Much too often, the text discusses key concepts by refering to example-boxes which, for some reason, are inconveniently printed pages away from the complementing text. This often disrupts the learning flow and thus may hinder (easy) comprehension of even the most basic concepts such as standard overhead absorption costing, budgeting, marignal costing, etc.
However, not all is amiss! One aspect of the book which deserves utmost praise is the extensive supply of exercise questions (and suggested solutions) to each chapter. These are extremely helpful in gaining a "feel" for the usefulness and necessity of management accounting in business. That alone may justify the purchase of the book. (hence three stars in the rating)

All in all I would say that this book isn't best-suited for the novice as stand-alone learning source, but may be a very useful supplement for those who want to apply what they have learned (possibly elsewhere) and those who want to gain a deeper, more technical understanding of already understood management accounting concepts.

Bloody good book, 15 Feb 2005
I thought that last years edition was good, but having picked up the latest of Drury; I can say I was blown away!

I especially like the little pictures of a roulette wheel; it adds a bit of danger and exicitment to the already thrilling world of management accounting.

BUY THIS BOOK YESTERDAY IF NOT BEFORE

Management & cost accounting, 14 Feb 2005
The book illustrate in a very complicate way and some of the explanation are not very clear

The definitive management accounting textbook, 16 Oct 2004
This book has it all from process costing to ABC it is simply the bible for management accountants this book changed my life. Sad, I know but you have to admire the author he makes it so clear and readable it really is a delight. I first read similar books by the same author years ago but this is the best, it covers everything you need to know therefore ideal for university degree courses MBA ect. The questions and answers are excellently researched and the use of colour in the text makes a boring subject interesting. It converted me I hope it will do the same for you.

The most comprehensive survey of management accounting., 28 Feb 2002
This book covers the whole field so it's not ideal if you need a quick introduction to the subject. But for anyone studying management accounting it provides an excellent resource for learning and testing your skills.
The student's manual is highly recommended too.

Comprehensive but somewhat technical (not very suitable for most beginners), 27 Jun 2006
I want to agree with the previous, rather brief reviewer who found this book to be somewhat complicated.

While it certainly IS very comprehensive (as in it covers all you want to know, plus more), the manner in which the material is presented at times comes accross overly technical and complicated - especially for the novice. Furthermore, the layout, while visually appealing, doesn't seem thought through properly. Much too often, the text discusses key concepts by refering to example-boxes which, for some reason, are inconveniently printed pages away from the complementing text. This often disrupts the learning flow and thus may hinder (easy) comprehension of even the most basic concepts such as standard overhead absorption costing, budgeting, marignal costing, etc.
However, not all is amiss! One aspect of the book which deserves utmost praise is the extensive supply of exercise questions (and suggested solutions) to each chapter. These are extremely helpful in gaining a "feel" for the usefulness and necessity of management accounting in business. That alone may justify the purchase of the book. (hence three stars in the rating)

All in all I would say that this book isn't best-suited for the novice as stand-alone learning source, but may be a very useful supplement for those who want to apply what they have learned (possibly elsewhere) and those who want to gain a deeper, more technical understanding of already understood management accounting concepts.

Bloody good book, 15 Feb 2005
I thought that last years edition was good, but having picked up the latest of Drury; I can say I was blown away!

I especially like the little pictures of a roulette wheel; it adds a bit of danger and exicitment to the already thrilling world of management accounting.

BUY THIS BOOK YESTERDAY IF NOT BEFORE

Management & cost accounting, 14 Feb 2005
The book illustrate in a very complicate way and some of the explanation are not very clear

The definitive management accounting textbook, 16 Oct 2004
This book has it all from process costing to ABC it is simply the bible for management accountants this book changed my life. Sad, I know but you have to admire the author he makes it so clear and readable it really is a delight. I first read similar books by the same author years ago but this is the best, it covers everything you need to know therefore ideal for university degree courses MBA ect. The questions and answers are excellently researched and the use of colour in the text makes a boring subject interesting. It converted me I hope it will do the same for you.

The most comprehensive survey of management accounting., 28 Feb 2002
This book covers the whole field so it's not ideal if you need a quick introduction to the subject. But for anyone studying management accounting it provides an excellent resource for learning and testing your skills.
The student's manual is highly recommended too.

Classic work on activity-based costing, management and strategy, 18 Dec 2007
Robert S. Kaplan and Robin Cooper's work on activity-based costing has achieved the status of a minor classic in managerial accounting literature. First published in 1997, it explained why activity-based costing has advantages not only for accounting, but also for management and strategy. Moreover, it linked the advantages of activity-based costing to what, at the time, seemed to be novel ideas about economic value added and enterprise systems. Nearly 10 years after its initial publication, the book seems surprisingly fresh and relevant (notwithstanding the authors' enthusiasm for the "information age" and the potential of enterprise systems). The authors present the case for activity-based costing in a clear and straightforward manner. The book is well-organized and surprisingly free of jargon. We recommend it as a good introduction to managers who are new to the subject. Even those familiar with the concept and practice of activity-based costing may find useful reminders of basic principles in this book.

Evolving Toward Better Financial Information and Actions!, 07 May 2004
Cost & Effect will most appeal to those who have had extended experience with Activity-Based Costing (ABC) or operate in manufacturing industries.

If you are interested in learning more about Activity-Based Costing, this book is not the best choice for you. Professor Kaplan has co-authored books that explore this subject in much greater detail.

Most people set as their initial priority the need to have accurate financial reporting for the entire enterprise. Falling below that level of effectiveness is Stage I in the terms of this book. Once you have that financial reporting done accurately, you are at Stage II. But you know almost nothing about how to manage your costs better. In order to do that, you will need to establish ad hoc financial reporting processes designed to help your organization learn from its experience and identify opportunities for improvement, built around Activity-Based Costing (ABC). ABC is simply a way of more accurately applying overhead costs back to activities and then processes that permits accurately understanding more about which combinations of products and services and customers are profitable and which are not. Then, within each activity, you can also see the inefficiencies in what you are doing that present opportunities for improvement. The book also has a nice discussion of Kaizen costing that is widely used in Japanese companies looking for on-going cost improvements, based on Professor Cooper's research. There are a few case histories to illustrate the principles, but most will find these insufficient to guide them through the process. In other books, Professor Kaplan has pointed out that there is a lot of acquired art in the subject and you probably need help to get it right. I concur. Once you have ABC operating in stand-alone systems, you are at Stage III.

At this point, you will have a financial reporting system that is separate from the ABC system. How do you put them together? That the subject of chapter 14, which is the key value-added part of this book. You will see what the systems architecture and process flow needs to be in order to combine ABC with Enterprise-Wide Systems (EWS) of the sort that many large companies have invested in during recent years. Putting the two together will greatly improve planning, budgeting, design of new products and services, and operational improvements. Chapter 15 expands into the area of how to apply the combined system to budgeting and transfer pricing. Combing ABC and EWS puts you at Stage IV, a level rarely reached today.

The book's main message is that it's a mistake to try to go from Stage II directly to Stage IV. There's a lot of experimentation and mistakes that you can benefit from in an extended Stage III. I agree again, based on my experience with ABC.

The one caution you should have about ABC in this context is that if you are going to radically change your business model every 2-5 years as many companies are, Stage IV is probably unattainable and undesirable. You can't hold back business model innovation for better cost systems. The next business model innovation will probably give you better costs than tweaking the current business model with ABC will.

Seek out the fastest route to progress, and do more of it!

The book I use every day!, 18 Feb 1999
I would like to have it in German and French languages in order to recommend it to my colleagues.

Great book to understand how to make ABC really useful, 12 Jun 1998
This book drives the business and finance community to rethink how a company should handle cost. It shows the 4 stages of financial reporting and ABC strategies. Companies have to switch their strategy of using traditional financial reporting to understand business performance and make it the other way around. Business Management Reporting should drive the Financial Reporting and the accountants should handle Financial Reporting for external needs in a locked room. This issue is analyzed from the ABC eyes. It is a must read book, innovative and out of the box thinking.

Brazilian Bank cases using ABC + Standard Cost (with Budget), 16 Mar 1998
Kaplan was succesfull in your book by putting together very importante concepts about cost: accurate use of ABC/ABM, Standard Cost with budget systems. In Brazil, since 1995, we have been developing this concepts in pratical cases with major bank institutions (both brazilian and foreign). Kaplan put light in the main concepts but fail in bring robust experiences in Financial Sector: most of banks, brokers, insurance companies are wrong in your profitability calculations; big financial groups around the world need build these concepts in your daily life. I hope Kaplan could help us with cases about this matter. Thank you.

Comprehensive but somewhat technical (not very suitable for most beginners), 27 Jun 2006
I want to agree with the previous, rather brief reviewer who found this book to be somewhat complicated.

While it certainly IS very comprehensive (as in it covers all you want to know, plus more), the manner in which the material is presented at times comes accross overly technical and complicated - especially for the novice. Furthermore, the layout, while visually appealing, doesn't seem thought through properly. Much too often, the text discusses key concepts by refering to example-boxes which, for some reason, are inconveniently printed pages away from the complementing text. This often disrupts the learning flow and thus may hinder (easy) comprehension of even the most basic concepts such as standard overhead absorption costing, budgeting, marignal costing, etc.
However, not all is amiss! One aspect of the book which deserves utmost praise is the extensive supply of exercise questions (and suggested solutions) to each chapter. These are extremely helpful in gaining a "feel" for the usefulness and necessity of management accounting in business. That alone may justify the purchase of the book. (hence three stars in the rating)

All in all I would say that this book isn't best-suited for the novice as stand-alone learning source, but may be a very useful supplement for those who want to apply what they have learned (possibly elsewhere) and those who want to gain a deeper, more technical understanding of already understood management accounting concepts.

Bloody good book, 15 Feb 2005
I thought that last years edition was good, but having picked up the latest of Drury; I can say I was blown away!

I especially like the little pictures of a roulette wheel; it adds a bit of danger and exicitment to the already thrilling world of management accounting.

BUY THIS BOOK YESTERDAY IF NOT BEFORE

Management & cost accounting, 14 Feb 2005
The book illustrate in a very complicate way and some of the explanation are not very clear

The definitive management accounting textbook, 16 Oct 2004
This book has it all from process costing to ABC it is simply the bible for management accountants this book changed my life. Sad, I know but you have to admire the author he makes it so clear and readable it really is a delight. I first read similar books by the same author years ago but this is the best, it covers everything you need to know therefore ideal for university degree courses MBA ect. The questions and answers are excellently researched and the use of colour in the text makes a boring subject interesting. It converted me I hope it will do the same for you.

The most comprehensive survey of management accounting., 28 Feb 2002
This book covers the whole field so it's not ideal if you need a quick introduction to the subject. But for anyone studying management accounting it provides an excellent resource for learning and testing your skills.
The student's manual is highly recommended too.

Classic work on activity-based costing, management and strategy, 18 Dec 2007
Robert S. Kaplan and Robin Cooper's work on activity-based costing has achieved the status of a minor classic in managerial accounting literature. First published in 1997, it explained why activity-based costing has advantages not only for accounting, but also for management and strategy. Moreover, it linked the advantages of activity-based costing to what, at the time, seemed to be novel ideas about economic value added and enterprise systems. Nearly 10 years after its initial publication, the book seems surprisingly fresh and relevant (notwithstanding the authors' enthusiasm for the "information age" and the potential of enterprise systems). The authors present the case for activity-based costing in a clear and straightforward manner. The book is well-organized and surprisingly free of jargon. We recommend it as a good introduction to managers who are new to the subject. Even those familiar with the concept and practice of activity-based costing may find useful reminders of basic principles in this book.

Evolving Toward Better Financial Information and Actions!, 07 May 2004
Cost & Effect will most appeal to those who have had extended experience with Activity-Based Costing (ABC) or operate in manufacturing industries.

If you are interested in learning more about Activity-Based Costing, this book is not the best choice for you. Professor Kaplan has co-authored books that explore this subject in much greater detail.

Most people set as their initial priority the need to have accurate financial reporting for the entire enterprise. Falling below that level of effectiveness is Stage I in the terms of this book. Once you have that financial reporting done accurately, you are at Stage II. But you know almost nothing about how to manage your costs better. In order to do that, you will need to establish ad hoc financial reporting processes designed to help your organization learn from its experience and identify opportunities for improvement, built around Activity-Based Costing (ABC). ABC is simply a way of more accurately applying overhead costs back to activities and then processes that permits accurately understanding more about which combinations of products and services and customers are profitable and which are not. Then, within each activity, you can also see the inefficiencies in what you are doing that present opportunities for improvement. The book also has a nice discussion of Kaizen costing that is widely used in Japanese companies looking for on-going cost improvements, based on Professor Cooper's research. There are a few case histories to illustrate the principles, but most will find these insufficient to guide them through the process. In other books, Professor Kaplan has pointed out that there is a lot of acquired art in the subject and you probably need help to get it right. I concur. Once you have ABC operating in stand-alone systems, you are at Stage III.

At this point, you will have a financial reporting system that is separate from the ABC system. How do you put them together? That the subject of chapter 14, which is the key value-added part of this book. You will see what the systems architecture and process flow needs to be in order to combine ABC with Enterprise-Wide Systems (EWS) of the sort that many large companies have invested in during recent years. Putting the two together will greatly improve planning, budgeting, design of new products and services, and operational improvements. Chapter 15 expands into the area of how to apply the combined system to budgeting and transfer pricing. Combing ABC and EWS puts you at Stage IV, a level rarely reached today.

The book's main message is that it's a mistake to try to go from Stage II directly to Stage IV. There's a lot of experimentation and mistakes that you can benefit from in an extended Stage III. I agree again, based on my experience with ABC.

The one caution you should have about ABC in this context is that if you are going to radically change your business model every 2-5 years as many companies are, Stage IV is probably unattainable and undesirable. You can't hold back business model innovation for better cost systems. The next business model innovation will probably give you better costs than tweaking the current business model with ABC will.

Seek out the fastest route to progress, and do more of it!

The book I use every day!, 18 Feb 1999
I would like to have it in German and French languages in order to recommend it to my colleagues.

Great book to understand how to make ABC really useful, 12 Jun 1998
This book drives the business and finance community to rethink how a company should handle cost. It shows the 4 stages of financial reporting and ABC strategies. Companies have to switch their strategy of using traditional financial reporting to understand business performance and make it the other way around. Business Management Reporting should drive the Financial Reporting and the accountants should handle Financial Reporting for external needs in a locked room. This issue is analyzed from the ABC eyes. It is a must read book, innovative and out of the box thinking.

Brazilian Bank cases using ABC + Standard Cost (with Budget), 16 Mar 1998
Kaplan was succesfull in your book by putting together very importante concepts about cost: accurate use of ABC/ABM, Standard Cost with budget systems. In Brazil, since 1995, we have been developing this concepts in pratical cases with major bank institutions (both brazilian and foreign). Kaplan put light in the main concepts but fail in bring robust experiences in Financial Sector: most of banks, brokers, insurance companies are wrong in your profitability calculations; big financial groups around the world need build these concepts in your daily life. I hope Kaplan could help us with cases about this matter. Thank you.

AAT - Costing & Reports, 24 Feb 2006
If like me you can't get your head around report writing, BUY THIS BOOK, even if not taking the AAT qulification, it still enables you to write reports in different formats. Excellent!!

Cost Benefit Analysis: Concepts and Practice (Paperback) ASIN: 0132405601 Title: Cost Benefit Analysis: Concepts and Practice (Paperback) Author: Boardman Binding: Paperback Publication date: 2007

Comprehensive but somewhat technical (not very suitable for most beginners), 27 Jun 2006
I want to agree with the previous, rather brief reviewer who found this book to be somewhat complicated.

While it certainly IS very comprehensive (as in it covers all you want to know, plus more), the manner in which the material is presented at times comes accross overly technical and complicated - especially for the novice. Furthermore, the layout, while visually appealing, doesn't seem thought through properly. Much too often, the text discusses key concepts by refering to example-boxes which, for some reason, are inconveniently printed pages away from the complementing text. This often disrupts the learning flow and thus may hinder (easy) comprehension of even the most basic concepts such as standard overhead absorption costing, budgeting, marignal costing, etc.
However, not all is amiss! One aspect of the book which deserves utmost praise is the extensive supply of exercise questions (and suggested solutions) to each chapter. These are extremely helpful in gaining a "feel" for the usefulness and necessity of management accounting in business. That alone may justify the purchase of the book. (hence three stars in the rating)

All in all I would say that this book isn't best-suited for the novice as stand-alone learning source, but may be a very useful supplement for those who want to apply what they have learned (possibly elsewhere) and those who want to gain a deeper, more technical understanding of already understood management accounting concepts.

Bloody good book, 15 Feb 2005
I thought that last years edition was good, but having picked up the latest of Drury; I can say I was blown away!

I especially like the little pictures of a roulette wheel; it adds a bit of danger and exicitment to the already thrilling world of management accounting.

BUY THIS BOOK YESTERDAY IF NOT BEFORE

Management & cost accounting, 14 Feb 2005
The book illustrate in a very complicate way and some of the explanation are not very clear

The definitive management accounting textbook, 16 Oct 2004
This book has it all from process costing to ABC it is simply the bible for management accountants this book changed my life. Sad, I know but you have to admire the author he makes it so clear and readable it really is a delight. I first read similar books by the same author years ago but this is the best, it covers everything you need to know therefore ideal for university degree courses MBA ect. The questions and answers are excellently researched and the use of colour in the text makes a boring subject interesting. It converted me I hope it will do the same for you.

The most comprehensive survey of management accounting., 28 Feb 2002
This book covers the whole field so it's not ideal if you need a quick introduction to the subject. But for anyone studying management accounting it provides an excellent resource for learning and testing your skills.
The student's manual is highly recommended too.

Classic work on activity-based costing, management and strategy, 18 Dec 2007
Robert S. Kaplan and Robin Cooper's work on activity-based costing has achieved the status of a minor classic in managerial accounting literature. First published in 1997, it explained why activity-based costing has advantages not only for accounting, but also for management and strategy. Moreover, it linked the advantages of activity-based costing to what, at the time, seemed to be novel ideas about economic value added and enterprise systems. Nearly 10 years after its initial publication, the book seems surprisingly fresh and relevant (notwithstanding the authors' enthusiasm for the "information age" and the potential of enterprise systems). The authors present the case for activity-based costing in a clear and straightforward manner. The book is well-organized and surprisingly free of jargon. We recommend it as a good introduction to managers who are new to the subject. Even those familiar with the concept and practice of activity-based costing may find useful reminders of basic principles in this book.

Evolving Toward Better Financial Information and Actions!, 07 May 2004
Cost & Effect will most appeal to those who have had extended experience with Activity-Based Costing (ABC) or operate in manufacturing industries.

If you are interested in learning more about Activity-Based Costing, this book is not the best choice for you. Professor Kaplan has co-authored books that explore this subject in much greater detail.

Most people set as their initial priority the need to have accurate financial reporting for the entire enterprise. Falling below that level of effectiveness is Stage I in the terms of this book. Once you have that financial reporting done accurately, you are at Stage II. But you know almost nothing about how to manage your costs better. In order to do that, you will need to establish ad hoc financial reporting processes designed to help your organization learn from its experience and identify opportunities for improvement, built around Activity-Based Costing (ABC). ABC is simply a way of more accurately applying overhead costs back to activities and then processes that permits accurately understanding more about which combinations of products and services and customers are profitable and which are not. Then, within each activity, you can also see the inefficiencies in what you are doing that present opportunities for improvement. The book also has a nice discussion of Kaizen costing that is widely used in Japanese companies looking for on-going cost improvements, based on Professor Cooper's research. There are a few case histories to illustrate the principles, but most will find these insufficient to guide them through the process. In other books, Professor Kaplan has pointed out that there is a lot of acquired art in the subject and you probably need help to get it right. I concur. Once you have ABC operating in stand-alone systems, you are at Stage III.

At this point, you will have a financial reporting system that is separate from the ABC system. How do you put them together? That the subject of chapter 14, which is the key value-added part of this book. You will see what the systems architecture and process flow needs to be in order to combine ABC with Enterprise-Wide Systems (EWS) of the sort that many large companies have invested in during recent years. Putting the two together will greatly improve planning, budgeting, design of new products and services, and operational improvements. Chapter 15 expands into the area of how to apply the combined system to budgeting and transfer pricing. Combing ABC and EWS puts you at Stage IV, a level rarely reached today.

The book's main message is that it's a mistake to try to go from Stage II directly to Stage IV. There's a lot of experimentation and mistakes that you can benefit from in an extended Stage III. I agree again, based on my experience with ABC.

The one caution you should have about ABC in this context is that if you are going to radically change your business model every 2-5 years as many companies are, Stage IV is probably unattainable and undesirable. You can't hold back business model innovation for better cost systems. The next business model innovation will probably give you better costs than tweaking the current business model with ABC will.

Seek out the fastest route to progress, and do more of it!

The book I use every day!, 18 Feb 1999
I would like to have it in German and French languages in order to recommend it to my colleagues.

Great book to understand how to make ABC really useful, 12 Jun 1998
This book drives the business and finance community to rethink how a company should handle cost. It shows the 4 stages of financial reporting and ABC strategies. Companies have to switch their strategy of using traditional financial reporting to understand business performance and make it the other way around. Business Management Reporting should drive the Financial Reporting and the accountants should handle Financial Reporting for external needs in a locked room. This issue is analyzed from the ABC eyes. It is a must read book, innovative and out of the box thinking.

Brazilian Bank cases using ABC + Standard Cost (with Budget), 16 Mar 1998
Kaplan was succesfull in your book by putting together very importante concepts about cost: accurate use of ABC/ABM, Standard Cost with budget systems. In Brazil, since 1995, we have been developing this concepts in pratical cases with major bank institutions (both brazilian and foreign). Kaplan put light in the main concepts but fail in bring robust experiences in Financial Sector: most of banks, brokers, insurance companies are wrong in your profitability calculations; big financial groups around the world need build these concepts in your daily life. I hope Kaplan could help us with cases about this matter. Thank you.

AAT - Costing & Reports, 24 Feb 2006
If like me you can't get your head around report writing, BUY THIS BOOK, even if not taking the AAT qulification, it still enables you to write reports in different formats. Excellent!!

Excellent on both the "art" and "science" of valuation., 09 Dec 1998
Just what I needed as a small business owner who needed a basic understanding of both the art and the science of valuing my company. Heavier read than it looks, since I didn't needed to know everything about non-related businesses. I did need to know how what factors must be considered and how complex some deals could be. Yegge speaks from experience and that is obvious, helpful and most comforting.

A good book, If you need an overview about this topic, 23 Oct 1998
The title of the book is very explicit, "A Basic Guide", If you are looking for a general explanation about the valuation process and you are a bussiness related person, you will easily understand this book. It explain a new concept in valuation named "Hybrid Method", which is an interesting author's theory. But, if you are looking for a deep technical detail about this topic I recommend "Valuation" of McKinsey & Co.

Good basic information. Requires some thought to use., 14 Aug 1998
After looking over several other similar titles I decided on this. I am glad I did. The first section of the book which presents the basics of Yegge's valuation system is worth reading twice. The second section, a series of teaching examples, can be skimmed. Then read the last chapter. This book shows that business valuation, after the usual multiple of recastable earnings, is highly subjective. And, that this subjectivity can't be taught easily.

not a very good book. A much better book on subject is..., 27 Jun 1998
This seems to be a fairly narrow treatment - not very helpful, nor easy to read. A much better book is "Unlocking the Value of Your Business."