Managerial accounting for libraries & other not-for-profit organizations / G. Stevenson Smith.

Format:

Book

Author/Creator:

Smith, G. Stevenson.

Series:

ALA editions

Language:

English

Subjects (All):

Library finance.

Libraries--Accounting.

Libraries.

Nonprofit organizations--Accounting.

Nonprofit organizations.

Managerial accounting.

Physical Description:

xi, 288 pages : illustrations ; 23 cm.

Edition:

Second edition.

Other Title:

Managerial accounting for libraries and other not-for-profit organizations

Place of Publication:

Chicago : American Library Association, 2002.

Contents:

Managerial Accounting 2

Financial Accounting 3

Managerial Accounting in For-Profit and Nonprofit Contexts 4

The Normative Model versus the Descriptive Model in the Nonprofit Environment 6

What Is Nonprofit Managerial Accounting? 9

Who Will Benefit from This Book? 9

2 Cost Concepts and Decision Making 12

Cost Concepts for Managerial Decision Making 14

Actual Cost 15

Allocated (Indirect) Costs 16

Standard Costs 18

Controllable and Noncontrollable Costs 19

Fixed, Variable, and Mixed Costs 20

Direct and Indirect (Allocated) Costs 23

Discretionary Costs, Sunk Costs, and Differential Costs 23

Life Cycle Costs 26

Historical Costs and Current Costs 26

3 Responsibility Accounting and Methods of Managerial Cost Control 29

Performance Basis for Responsibility Centers 30

Traditional Cost Centers 31

Full Costs and Performance Reports 36

Determining Overhead Cost-Allocation Rates 40

Profit and Investment Centers 51

4 Activity-Based Accounting and Management 57

Activity-Based Costing: An Alternative to Traditional Cost Reporting 57

Activity Accounting Management 76

5 Budgeting and Standard Cost Analysis 79

The Accounting Systems: Accrual, Modified Accrual, and Cash 80

Accrual Basis 81

Modified Accrual 82

Cash Method 83

Budget Reports 83

Traditional Budget Reports: Legal Focus 84

Target Budget Reports: A Managerial Focus 89

The Flexible Budget: A Managerial Tool 96

The Flexible Budget and Standards of Performance 97

The Detailed Variances: Spending, Usage, and Time 107

6 Life Cycle Costing 113

Cost Design Considerations 115

Design Stage Costs 116

Purchase Price and Installation Costs 116

Annual Operating Costs 118

Miscellaneous Costs 119

A Note on Cost Reductions 119

Projecting Life Cycle Costs 120

Developing Life Cycle Management in the Library 123

Photocopying Machines 125

Present Value and LCC Analysis 128

Integrated Library Computer System 133

Limitations of LCC Analysis 140

LCC Performance Evaluation 141

7 Selected Managerial Decision-Making Techniques 151

Break-Even Analysis 151

Identifying Cost Behavior for Break-Even Analysis 158

Break-Even Analysis and Appropriations 162

Differential Cost Analysis 165

Using Probabilities and Sensitivity Analysis in Cost Estimating 171

Estimating Costs with the Learning Curve 177

8 Leasing: Issues and Analysis 183

Types of Leases 184

Cost Comparisons of Leased Assets 185

Leasing versus Purchasing an Asset 186

Leasing or Contracting for Personnel Services versus In-House Personnel 188

Lease Comparisons 191

Trade-Offs in Leasing 197

A Final Consideration: Monitoring Lease Performance 199

9 Performance Analysis: The Evaluation of Administrators 203

General Performance Measures 205

Long-Range Outcome Measures 208

Administrators and Long-Range Outcome Measurement 209

Contracts for Performance 225

A The Methods of Accounting Used in Libraries 229

Examples of Journal Entries and Their Effect on Financial Reporting under the Different Systems of Accounting 230

Inventories 230

Revenues 231

The Significance of the Differences 233

B Time Value of Money Concepts and Discounted Cash Flows 235

Determining the Present Value of Cash Outflows 236

Lump Sums 238

Annuities 239

Determination of the Discount Rate 241

Limitations of Present Value Method 242

Net Present Value 242.

Notes:

Includes index.

ISBN:

0838908209

OCLC:

48475106