- Paperback: 160 pages
- Publisher: North River Press (1 Dec 1998)
- Language English
- ISBN-10: 0884271587
- ISBN-13: 978-0884271581
- Product Dimensions: 22.5 x 15 x 1.1 cm
- Average Customer Review: 4.0 out of 5 stars See all reviews (1 customer review)
- Amazon Bestsellers Rank: 438,810 in Books (See Top 100 in Books)
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Most Helpful Customer Reviews
4.0 out of 5 stars
A Good Introduction to Throughput Accounting with many worked examples,
By
This review is from: Throughput Accounting (Paperback)
Wikipedia gives a good - though brief - overview of the key elements of Throughput Accounting (TA), but it doesn't really explain how it works in practice. Thomas Corbett's book provides a much fuller coverage of TA with many worked examples to show the benefits of TA in performance management and decision making.
Mr Corbett gives a short but excellent summary of Goldratt's Theory of Constraints and how it leads us to Throughput Accounting. The book offers at least 90 pages of worked examples to show TA's use in all sorts of decisions from profit maximisation, to pricing, to make-buy. Much of the rest of the book is devoted to explaining and illustrating why "traditional" approaches to cost accounting are obsolete and counter-productive. The problems with cost accounting are well known and highlighted in many accounting texts - though that doesn't seem to diminish the use of cost accounting in many businesses. Mr Corbett does a good job of focussing on the key problems succinctly. Personally I find some of Mr Corbett's examples over-complicated by the clumsy format he uses, but this is a minor point. For accountancy students and managers wanting to understand how TA works, this book provides a great overview. Management accountants wanting to implement TA in their business may need more detail on the cost-centre structure required etc. Nevertheless this is a good, easy to read, starting point for anyone who wishes to expand their knowledge of Throughput Accounting.
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Most Helpful Customer Reviews on Amazon.com (beta) Amazon.com:
4.0 out of 5 stars (11 customer reviews) 40 of 40 people found the following review helpful:
5.0 out of 5 stars
Required book for the TOC financial management library.,
By A Customer - Published on Amazon.com
This review is from: Throughput Accounting (Paperback)
"Throughput Accounting," by Thomas Corbett, is a good "hands on" book which is mostly correct. It draws on the mainstream TOC literature in accounting (i.e., The Haystack Syndrome), touches most relevant areas, and represents the first thing that I have seen (other than Goldratt's writings) that seems to meet the three criteria of constraints accounting (explicit consideration of constraints, throughput considerations, and decoupling revenues from costs). It takes throughput accounting beyond direct costing--discussing long-run considerations, pricing issues, scrap, multiple CCRs (constraints), treatment of home office expenses, multiple divisions, market constraints, and, of course, our new friend activity based costing. At 162 pages it's an easy evening's read--even with a large number of "accounting analyses"--for those familiar with the theory of constraints (TOC), and worthwhile for anyone implementing TOC. "Throughput Accounting" is a required item for the TOC financial management library.
30 of 30 people found the following review helpful:
5.0 out of 5 stars
Finally a TOC book that addresses accounting specifics!,
By Chief Exec - Published on Amazon.com
This review is from: Throughput Accounting (Paperback)
We've all read Goldratt's work on the Theory of Constraints (TOC) and the improvements that can be made in manufacturing processes. However, what is often overlooked in those books is the reality of getting these changes to work with our traditional cost accounting systems. TOC sounds great in theory, but how do we, as accountants, measure and report financial results in a way which supports TOC, yet still fulfills our responsibilities for external reporting? Don't we still have to apply overhead to products and calculate product costs?In this book, Corbett does a great job illustrating how our old cost accounting techniques are inadequate, and, more importantly, can lead us to make decisions which actually harm the bottom line. But he doesn't stop at simply pointing out the shortcomings of cost accounting, as most texts do. He takes the additional step of providing real financial statements and measures that support the concepts in TOC, and allow accountants to give production management the data they need. You can begin using these statements right away in your own company. In addition, he shows us how to use TOC to make various financial decisions. He even spends a chapter showing some of the criticisms of Throughput Accounting and provide warnings about its proper use. After reading this book you will realize that calculating a product cost is like buying a house and then trying to figure out how much of the purchase price to assign to the bathroom faucet. "Product Cost" is a fallacy, and impossible to determine. All that really matters is Throughput, the difference between selling price and totally variable costs. If you are a controller or cost accountant stuck between production managers who are eager to implement TOC improvements, and financial managers who still insist on overhead application and product costs, this is the book for you. 26 of 26 people found the following review helpful:
5.0 out of 5 stars
An excellent primer,
By Michael Clingan "theclaymoregroup.com" - Published on Amazon.com
This review is from: Throughput Accounting (Paperback)
I have to push myself to read most accounting books. This one pulled me along. As a Jonah's Jonah focused on eliminating market constraints I am constantly faced with the internal sell of new company policy. Often the resistance to change is couched in accounting terminology. This book provides the tools required to establish the mutual understanding needed for collaborative problem solving. Particularly helpful is the discussion relating TOC to TQM and JIT through their accounting issues. I highly recommend it.
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