Essentials of Cost Management


* Comprehensive coverage of proven and emerging cost management methods
* Proven strategies to create value, increase revenue, and manage profitability
* Techniques to build the bridge from cost to performance management
* Shortfalls of specific methods and key pitfalls to avoid

Full of valuable tips, techniques, illustrative real-world examples, exhibits, and best practices, this handy and concise paperback will help you stay up to date on the newest thinking, strategies, developments, and technologies in cost management.

"A masterful book moving from a succinct explanation of traditional cost management methods to a discussion of the shortcomings of these methods. The later chapters show how new and emerging cost management methods may be practically integrated to provide business control and radical improvement of the organization's processes. This short and readable book reflects the vital movement from managing cost to creating value. This book is excellent for an operations person seeking better understanding of finance, or the finance person wishing for an introduction to value-based thinking."
-Brian Maskell, President, BMA Inc.

"An enlightening-and enlightened-exploration of the often perplexing world of cost management. Joe and Catherine Stenzel stake the claim early on that cost and organizational performance are inseparable, and confirm this central premise throughout. Readers of this well-organized and superbly researched book will find a multitude of ideas and approaches that are immediately applicable to any organization."
-Paul R. Niven, President, Primerus Consulting, Inc.

"The Stenzels effectively capture each of the elements of today's metamorphoses in cost accounting directed at making it a more valuable contributor to a modern organization's decision-making processes. Their comprehensive description of the key elements of effective cost management systems is a most valuable contribution."
-Arthur M. Schneiderman, Independent process management consultant

CATHERINE and JOE STENZEL are Coeditors of the Journal of Cost Management, an RIA bimonthly periodical. Catherine Stenzel is also curriculum developer and a national instructor for the Institute of Management Accountants where she and Joe codevelop seminars and organize conferences. The Stenzels live in Minneapolis, Minnesota.
Preface: Cost and Value.

1 Cost Management: Control and Profitability.

2 Traditional Cost Types, Terms, and Practices.

3 Cost Accounting Structures: Standards, Budgets, and Controls.

4 Operational Resource Accounting.

5 Process and Resource-Based Cost Management.

6 Tactical Management of Costs and Resources.

7 Strategy-Based Systems and the Future of Cost Management.

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