This article constructs a model of process costing in order to propose a product costing method under the method of non-neglecting normal shrinkages subject to FIFO, on the case in which materials are issued at the beginning of a process, conversion activities are being executed during the process, and normal shrinkages are occurred continually at a certain rate until the end of the process, and examines some characteristics. Under the proposed accurate method, we can measured the precise product costs and the shrinkage costs occurred from the beginning work-in-process and from direct material in the ending work-in-process by conversions in the next costing period, and the conversion cost is calculated on the basis of the conversion time.

Much attention has been paid to the performance measures for the value-based management. Advocates of value-based management insist that firms use the performance measures relevant for the value creation. This paper focuses the role of cash flow, residual earnings, residual income for instance, and accounting profit in the value-based management. The purpose of this paper is to clarify the relevant performance measure by reviewing the empirical studies which approach the relationship between the firms' value and the performance measures. Based on the previous works, the performance measures relevant for the value-creating-activities of the firm are examined.

The purpose of the paper is to analyze the effects of advertising and R&D expenditures on the values of intangibles for the 1,091 Japanese manufacturing firms during the 38 years from 1965 to 2002. The accounting data exhibits an unbalanced panel structure. The paper employs a general linear regression model with parameters varying over time, which leads a generalized least squares (GLS) method of estimation instead of conventional ordinary least squares (OLS). Empirical results reveal that (1) the effects of the advertising expenditure does not change during the sample periods except for the bubble years, (2) the effects of the R&D expenditure increases in the early 80s, decreases from 85 to 98, and increases again since 2000, (3) the effects of the R&D expenditure are larger than those of the advertising expenditure, and (4) there exist strong autocorrelations for the error terms, which justify the use of the GLS instead of the OLS.

Surroundings of New Product Development (NPD) change dramatically, and NPD takes a major role in the company strategies. And with the spread of recognition about environmental issues, many studies insist on importance of Environmental NPD. In this study, we try to develop the function of strategic management control on the Environmental NPD projects. We execute a case study of non- Freon refrigerator project at A company. In this case study, we specify the success factors of this project. These factors include the alliance with the environmental party, and the maintenance of infrastructure by alliance with the industry and the Administration. Until now, they are beyond management issues on the project. In this article, we examine the process in which strategic management control resolved these issues.