Managerial Accounting

Description

For introductory, undergraduate Managerial Accounting courses.

Rock-solid decision-making through strong coverage and effective practice

Students interact with businesses every day—where they work, where they shop, even where they blog. At the core of these businesses are rock-solid managerial accounting fundamentals that students don’t always see. Authors Wendy Tietz, Karen Braun, and Walter Harrison show the connection between accounting concepts and the businesses students interact with in their new text, Managerial Accounting. By presenting the accounting decisions made in companies like Target and J. Crew, this text’s precise coverage of the core concepts—combined with the unlimited practice in MyAccountingLab, the text’s market-leading online homework and tutorial program—gets students engaged in the learning process. With Managerial Accounting and MyAccountingLab, students will have more “I Get It!” moments and leave the course with a rock-solid understanding of managerial accounting.

For this edition, Wendy Tietz, of Kent State University, contributed as coauthor. Dr. Tietz is an award-winning and experienced accounting and technology educator. Together, the authors refined their philosophy for the end-of-chapter and supplementary material for the second edition.

Contents

Chapter 1  Introduction to Managerial Accounting

Chapter 2  Building Blocks of Managerial Accounting

Chapter 3  Job Costing

Chapter 4  Activity Based Costing, Lean Production, and the Costs of Quality

Chapter 5  Process Costing

Chapter 6  Cost Behavior

Chapter 7  Cost-Volume-Profit Analysis

Chapter 8  Short-Term Business Decisions

Chapter 9  The Master Budget and Responsibility Accounting

Chapter 10  Flexible Budgets and Standard Costs

Chapter 11  Performance Evaluation and the Balanced Scorecard

Chapter 12  Capital Investment Decisions and the Time Value of Money

Chapter 13  Statement of Cash Flows

Chapter 14  Financial Statement Analysis

Features

For introductory, undergraduate Managerial Accounting courses.

Rock-solid decision-making through strong coverage and effective practice

Students interact with businesses every day—where they work, where they shop, even where they blog. At the core of these businesses are rock-solid managerial accounting fundamentals that students don’t always see. Authors Wendy Tietz, Karen Braun, and Walter Harrison show the connection between accounting concepts and the businesses students interact with in their new text, Managerial Accounting. By presenting the accounting decisions made in companies like Target and J. Crew, this text’s precise coverage of the core concepts—combined with the unlimited practice in MyAccountingLab, the text’s market-leading online homework and tutorial program—gets students engaged in the learning process. With Managerial Accounting and MyAccountingLab, students will have more “I Get It!” moments and leave the course with a rock-solid understanding of managerial accounting.

For this edition, Wendy Tietz, of Kent State University, contributed as coauthor. Dr. Tietz is an award-winning and experienced accounting and technology educator.  Together, the authors refined their philosophy for the end-of-chapter and supplementary material for the second edition.

Focused Coverage

Managerial Accounting, 2e is concise and straightforward without sacrificing the explanations that clarify concepts! The key to capturing students’ attention isn’t just about being concise—which is why this text presents concepts in a way that gets students to the point without omitting vital information for the sake of brevity. The result is an accessible and understandable text that helps students make connections about the business significance of accounting information.

NEW! Adjusted Chapter Order

Based on extensive market feedback, the layout of the second edition reflects the order in which instructors teach the topics as well as the order that makes the most sense to students. This allows for increased comprehension of the material.

Coverage Specifics

Revised Costing Chapters

The Activity-Based Costing chapter now follows the Job Costing chapter since it is a natural extension to a traditional job costing environment. For both chapters the authors use Life Fitness, a manufacturer of fitness equipment, as the focus company so that students can easily compare and contrast the different costing methods within the same business context. To give instructors more flexibility of coverage, all journal entries associated with job costing and process costing are isolated in the final section of the chapter.

Revised Budgeting Chapters

The focus of this chapter switched from a merchandising to a manufacturing context to provide the most comprehensive coverage of master budgets. The appendix compares and contrasts the budgets of service, manufacturing, and merchandising budgets.

Revised Financial Statement Analysis Chapter

The authors use a large retailer to present the concept, then feature Target in both Summary Problems, and then use leading competitors such as JC Penney, Kohl’s, and Wal-Mart to illustrate, compare, and analyze the financial statements from both a company and industry point of view.

NEW! Statement of Cash Flows Chapter

This edition now offers a separate chapter on the statement of cash flows (chapter 13), which shows students how to interpret the statement and deepens their understanding of the importance of cash to a business' survival and expansion.

NEW! International Financial Reporting Standards (IFRS), Sustainability, and Other Emerging Issues Integrated throughout the Text

IFRS, international accounting issues, XBRL, sustainability, and corporate responsibility are added to ensure that students learn the current trends in the business environment. These emerging IFRS and international issues are denoted throughout the text with a global icon.

NEW! Headers in a Question & Answer Format

Most headers in the chapters are written as thought-provoking questions followed by clear, direct answers. The Q & A format allows students to read with purpose,

focusing on the concept and its relevance. This format reinforces how the accounting information is used to answer questions and make decisions in business.

Decision Guidelines

Summarizing the chapter's key terms, concepts, and formulas in the context of business decisions, Decision Guidelines can be found at the midpoint and end of each chapter. They reinforce how the accounting information students are learning is used to make decisions in business.

NEW! “Why is this important?” Feature

To help students focus on the business significance of managerial accounting, the authors added marginal notations called “Why is this important?”. There are several of these notes in each chapter to help students make connections between accounting and the business environment.

Accounting in Business

The second edition continues to focus on the business significance of accounting information. The authors cover a variety of business settings (manufacturing, retail, and service sectors) and present full coverage of job costing and budgeting in service firms (chapters 3 and 9). They also cover all costs throughout the value chain rather than only the inventoriable product costs. Combined with careful consideration of the depth of coverage on the more “cost-oriented” topics, Managerial Accounting, 2e offers instructors and students an easy-to-read, balanced text.

Extensive Practice

The concepts learned throughout the text are reinforced with a thorough, extensive, and clear set of practice opportunities. Once students read through the chapters, it’s imperative for them to immediately apply the concepts learned to make connections. The end-of-chapter material, along with MyAccountingLab, provides students with ample opportunities to practice.

NEW! Rewritten End-of-Chapter Material

Important concepts such as ethics, Sarbanes-Oxley, and globalization need to be reinforced in the end-of-chapter material in order to cement student understanding. New coauthor Wendy Tietz, an experienced accounting and technology educator, has rewritten all the end-of-chapter material in this text to thoroughly support key chapter topics and to remain consistent with the rest of the text.

An Extensive Set of End-of-Chapter Material and Tools

The EOC Philosophy: The end-of-chapter material has been structured so that students progress from simple, computational exercises to a mixture of computational and conceptual exercises, building their confidence as they build their skills. In addition, there is a solid offering of end-of-chapter exercises and problems, which mix cost-oriented and conceptual requirements. This structure helps students think about what the numbers mean in addition to how to calculate them.

NEW! Multi-Media and Analytical Emphasis: Every chapter now features “Discussion & Analysis” and “Application & Analysis” features suitable for use in class, online, and/or outside of class. These opportunities for analysis help students grasp the underlying concepts. Popular multi-media are used to engage the student in this level of thinking.

NEW! “B” Exercises Added to the Text: In addition to an “A” set of exercises students will receive additional practice with a new set of “B” exercises that have been added to this text. For even more practice, these exercises come with three additional static alternatives in MyAccountingLab.

NEW! CMA Sample Problems: In order to give students ample exposure to the Certified Management Accountant exam, CMA sample problems appear at the end of each chapter for students to practice.

Updated Demo Docs: Demo Docs are fully worked-through problems that weave computation and concepts together in a step-by-step format for guided reinforcement of chapter concepts and skills. These strategically placed, worked-through problems reflect the chapter content, occurring only where students need them the most. Additional Demo Docs, including animated versions, are available for every chapter in the study guide and in MyAccountingLab.

New and Revised Summary Problems and Solutions: Found at the mid- and end-of-chapter points, these problems and solutions provide students with guided learning of the chapter material. By presenting these problems and solutions at the mid and end of the chapter, the summary problems reinforce the concepts, enabling students to absorb and master the material in more manageable pieces.

NEW! End-of-Chapter Material Integrated with MyAccountingLab: Students need practice and repetition in order to successfully learn the fundamentals of accounting. Managerial Accounting, 2e now contains an additional set of exercises in the text for instructors to choose from. In MyAccountingLab three static alternatives for all exercises and problems, and algorithmic versions, are all auto-graded for unlimited practice.www.myaccountinglab.com