Skip to main content
Displaying 1 of 1
Managerial accounting
2018
Find It
Annotations

For Introduction to Management Accounting courses.

 

Managerial accounting taught through real-world business application

Managerial Accounting helps readers see how managerial accounting concepts are used in business to make decisions. By presenting actual accounting decisions made in companies like Target and Macy’s, the text’s precise coverage of the core concepts better engages readers in the content. With new problems, cases, and applications in the 5th Edition, readers receive the most up-to-date information and practice opportunities to prepare them for their future careers in accounting.

 

Also Available with MyLab Accounting

MyLab™ Accounting is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.


Note: You are purchasing a standalone product; MyLab does not come packaged with this content. Students, if interested in purchasing this title with MyLab, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information.


If you would like to purchase both the physical text and MyLab, search for:

 

0134641809 / 9780134641805 Managerial Accounting Plus MyLab Accounting with Pearson eText -- Access Card Package

 

Package consists of:

  • 0134128524 / 9780134128528 Managerial Accounting
  • 0134161645 / 9780134161648 MyLab Accounting with Pearson eText -- Access Card -- for Managerial Accounting

 

- (PEARSON)

For Introduction to Management Accounting courses.

 

Managerial accounting taught through real-world business application

Managerial Accounting helps students see how managerial accounting concepts are used in business to make decisions. By presenting actual accounting decisions made in companies like Target and Macy’s, the text’s precise coverage of the core concepts better engages students in the content. With new problems, cases, and applications in the 5th Edition, students receive the most up-to-date information and practice opportunities to prepare them for their future careers in accounting.

 

Also available with MyLab Accounting

MyLab™ Accounting is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.


Students, if interested in purchasing this title with MyLab Accounting, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information.

 

- (PEARSON)

Author Biography

Karen Wilken Braun is a professor for the Department of Accountancy in Weatherhead School of Management at Case Western Reserve University. Braun is also the Beta Alpha Psi adviser and the director of the undergraduate accounting program. Professor Braun was on the faculty of the J.M. Tull School of Accounting at the University of Georgia before her appointment at Case Western. She has received several student-nominated Outstanding Teacher of the Year awards at both business schools, and is regularly asked to speak to student clubs and organizations about personal financial planning.

 

Braun is a Certified Public Accountant and holds membership in the American Accounting Association (AAA), the Institute of Management Accountants, and the American Institute of Certified Public Accountants. She also holds the Chartered Global Management Accountant designation, and is a member of the AAA’s Management Accounting Section as well as the Teaching, Learning and Curriculum Section. Braun has has regularly held leadership positions with the AAA’s Conference on Teaching and Learning in Accounting (CTLA) including co-chairing the 2015 and 2016 conferences. She was awarded the 2016 Bea Sanders/AICPA Teaching Innovation Award for her development of Excel-based active-learning resources for introductory managerial courses. Braun’s research and teaching interests revolve around lean operations, sustainability, corporate responsibility, and accounting education. Braun’s work has been published in Contemporary Accounting Research, Issues in Accounting Education, and Journal of Accounting Education.

 

Braun received her PhD from the University of Connecticut and her BA, summa cum laude, from Luther College, where she was a member of Phi Beta Kappa. Braun gained public accounting experience while working at Arthur Andersen & Co. and accumulated additional business and management accounting experience as a corporate controller.

 

Braun has two daughters who are both in college. In her free time, she enjoys biking, gardening, hiking, skiing, and spending time with family and friends.

 

Wendy M. Tietz is a professor for the Department of Accounting in the College of Business Administration at Kent State University. She teaches introductory financial and managerial accounting in a variety of formats, including large sections, small sections, and web-based sections. She has received numerous college and university teaching awards while at Kent State University.

 

Tietz is a Certified Public Accountant, a Certified Management Accountant, and a Chartered Global Management Accountant. She is a member of the American Accounting Association (AAA), the Institute of Management Accountants and the American Institute of Certified Public Accountants. She is a member of the AAA’s Management Accounting

Section as well as the Teaching, Learning and Curriculum Section. She has published in Strategic Finance, IMA Educational Case Journal, Issues in Accounting Education, Accounting Education: An International Journal, and Journal of Accounting & Public Policy. She regularly presents at AAA regional and national meetings.

 

Tietz authors a blog, Accounting in the Headlines, which has real-world news stories and resources for use in the introductory accounting classroom. Dr. Tietz was awarded the Bea Sanders/AICPA Teaching Innovation Award for her blog in 2014 and the Jim Bulloch/IMA Award for Innovations in Management Accounting Education in 2016. She was also awarded the Best Educational/Case Award for the Teaching, Learning and Curriculum Section (AAA, Ohio Region) in 2016. Tietz earned her PhD from Kent State University. She received both her MBA and BSA from the University of Akron. She worked in industry for several years, both as a controller for a financial institution and as the operations manager and controller for a recycled plastics manufacturer.

 

Tietz and her husband, Russ, have two grown sons. In her spare time, she enjoys walking, reading, and spending time with family and friends. She is also intensely interested in using technology and social media in education.

 

- (PEARSON)

Large Cover Image
Table of Contents

1 Introduction to Managerial Accounting
1(47)
What Is Managerial Accounting?
2(1)
Managers' Three Primary Responsibilities
2(1)
A Road Map: How Managerial Accounting Fits In
3(1)
Differences Between Managerial Accounting and Financial Accounting
4(2)
What Role Do Management Accountants Play?
6(1)
The Role of Management Accountants
6(1)
The Skills Required of Management Accountants
7(1)
Managerial Accounting Is Important to All Careers
8(1)
Accounting within the Organizational Structure
9(1)
Professional Associations
10(2)
Average Salaries of Management Accountants
12(1)
Professional Ethics
12(2)
Examples of Ethical Dilemmas
14(4)
What Business Trends and Regulations Affect Management Accounting?
18(1)
Big Data, Data Analytics, and Critical Thinking
18(2)
Shifting Economy
20(1)
Globalization
20(1)
Lean Thinking and Focus on Quality
21(1)
Sustainability, Social Responsibility, and the Triple Bottom Line
21(1)
Integrated Reporting
22(1)
The Sarbanes-Oxley Act of 2002
23(4)
End of Chapter
27(21)
2 Building Blocks of Managerial Accounting
48(56)
What Are the Most Common Business Sectors and Their Activities?
49(1)
Service, Merchandising, and Manufacturing Companies
49(2)
Which Business Activities Make Up the Value Chain?
51(1)
Coordinating Activities Across the Value Chain
52(3)
How Do Companies Define Cost?
55(1)
Cost Objects, Direct Costs, and Indirect Costs
55(2)
Costs for Internal Decision Making and External Reporting
57(1)
Merchandising Companies' Product Costs
58(2)
Manufacturing Companies' Product Costs
60(1)
Prime and Conversion Costs
61(1)
Additional Labor Compensation Costs
62(1)
Recap: Product Costs Versus Period Costs
62(3)
How Are Product Costs and Period Costs Shown in the Financial Statements?
65(1)
Service Companies
65(1)
Merchandising Companies
65(2)
Manufacturing Companies
67(3)
Comparing Balance Sheets
70(1)
What Other Cost Terms Are Used by Managers?
71(1)
Controllable Versus Uncontrollable Costs
71(1)
Relevant and Irrelevant Costs
71(1)
Fixed and Variable Costs
72(1)
How Manufacturing Costs Behave
73(1)
Calculating Total and Average Costs
73(5)
End of Chapter
78(26)
3 Job Costing
104(71)
What Methods Are Used to Determine the Cost of Manufacturing a Product?
105(1)
Process Costing
105(1)
Job Costing
106(1)
How Do Manufacturers Determine a Job's Cost?
107(1)
Overview: Flow of Inventory Through a Manufacturing System
107(1)
Scheduling Production
108(1)
Purchasing Raw Materials
109(1)
Using a Job Cost Record to Keep Track of Job Costs
110(2)
Tracing Direct Materials Cost to a Job
112(2)
Tracing Direct Labor Cost to a Job
114(2)
Allocating Manufacturing Overhead to a Job
116(3)
Completing the Job Cost Record and Using It to Make Business Decisions
119(2)
How Can Job Costing Information Be Enhanced for Decision Making?
121(1)
Non-Manufacturing Costs
121(2)
Direct or Variable Costing
123(4)
How Do Managers Deal with Underallocated or Overallocated Manufacturing Overhead?
127(2)
What Journal Entries Are Needed in a Manufacturer's Job Costing System?
129(14)
Appendix 3A
143(1)
How Do Service Firms Use Job Costing to Determine the Amount to Bill Clients?
143(1)
What Costs Are Considered Direct Costs of Serving a Client?
143(1)
What Costs Are Considered Indirect Costs of Serving a Client?
144(1)
Finding the Total Cost of the Job and Adding a Profit Markup
145(1)
Invoicing Clients Using a Professional Billing Rate
145(1)
What Journal Entries Are Needed in a Service Firm's Job Costing System?
146(1)
End of Chapter
147(28)
4 Activity-Based Costing, Lean Operations, and the Costs of Quality
175(70)
Why and How Do Companies Refine Their Cost Allocation Systems?
176(1)
Simple Cost Allocation Systems Can Lead to Cost Distortion
176(1)
Review: Using a Plantwide Overhead Rate to Allocate Indirect Costs
177(2)
Using Departmental Overhead Rates to Allocate Indirect Costs
179(5)
Using Activity-Based Costing to Allocate Indirect Costs
184(7)
How Do Managers Use the Refined Cost Information to Improve Operations?
191(1)
Activity-Based Management (ABM)
191(2)
Passing the Cost-Benefit Test
193(5)
What Is Lean Thinking?
198(1)
The Eight Wastes of Traditional Operations
198(2)
Characteristics of Lean Operations
200(5)
Lean Operations in Service and Merchandising Companies
205(1)
How Do Managers Improve Quality?
206(1)
Costs of Quality (COQ)
206(1)
Relationship Among Costs
207(1)
Using Costs of Quality Reports to Aid Decisions
208(5)
End of Chapter
213(32)
5 Process Costing
245(62)
Process Costing: An Overview
246(1)
Two Basic Costing Systems: Job Costing and Process Costing
246(1)
How Does the Flow of Costs Differ Between Job and Process Costing?
247(3)
What Are the Building Blocks of Process Costing?
250(1)
Conversion Costs
250(1)
Equivalent Units
250(1)
Inventory Flow Assumptions
251(1)
How Does Process Costing Work in the First Processing Department?
252(2)
Step 1 Summarize the Flow of Physical Units
254(1)
Step 2 Compute Output in Terms of Equivalent Units
254(2)
Step 3 Summarize Total Costs to Account For
256(1)
Step 4 Compute the Cost per Equivalent Unit
256(1)
Step 5 Assign Total Costs to Units Completed and to Units in Ending Work in Process Inventory
257(1)
Average Unit Costs
257(2)
What Journal Entries Are Needed in a Process Costing System?
259(5)
How Does Process Costing Work in a Second or Later Processing Department?
264(1)
Process Costing in SeaView's Insertion Department
264(2)
Steps 1 and 2 Summarize the Flow of Physical Units and Compute Output in Terms of Equivalent Units
266(1)
Steps 3 and 4 Summarize Total Costs to Account for and Compute the Cost per Equivalent Unit
267(1)
Step 5 Assign Total Costs to Units Completed and to Units in Ending Work in Process Inventory
268(1)
Unit Costs and Gross Profit
268(1)
Production Cost Reports
269(1)
Journal Entries in a Second Processing Department
270(5)
End of Chapter
275(32)
6 Cost Behavior
307(74)
Cost Behavior: How Do Changes in Volume Affect Costs?
308(1)
Variable Costs
308(3)
Fixed Costs
311(3)
Mixed Costs
314(2)
Relevant Range
316(1)
Other Cost Behaviors
317(5)
How Do Managers Determine Cost Behavior?
322(1)
Account Analysis
322(1)
Scatterplots
322(2)
High-Low Method
324(2)
Regression Analysis
326(4)
Data Concerns
330(1)
What Are the Roles of Variable Costing and the Contribution Margin Income Statement?
331(1)
Comparing Absorption Costing and Variable Costing
331(2)
The Contribution Margin Income Statement
333(3)
Comparing Operating Income: Variable Versus Absorption Costing
336(2)
Reconciling Operating Income Between the Two Costing Systems
338(8)
End of Chapter
346(35)
7 Cost-Volume-Profit Analysis
381(62)
How Does Cost-Volume-Profit Analysis Help Managers?
382(1)
Data and Assumptions Required for CVP Analysis
382(1)
The Unit Contribution Margin
383(2)
The Contribution Margin Ratio
385(1)
How Do Managers Find the Breakeven Point?
386(1)
The Income Statement Approach
387(1)
The Shortcut Approach Using the Unit Contribution Margin
388(1)
The Shortcut Approach Using the Contribution Margin Ratio
388(1)
How Do Managers Find the Volume Needed to Earn a Target Profit?
389(1)
How Much Must We Sell to Earn a Target Profit?
389(2)
Graphing CVP Relationships
391(5)
How Do Managers Use CVP to Make Decisions When Business Conditions Change?
396(1)
Changing the Sales Price and Volume
396(2)
Changing Variable Costs
398(1)
Changing Fixed Costs
399(3)
Changing the Mix of Products Offered for Sale
402(4)
What Are Some Common Indicators of Risk?
406(1)
Margin of Safety
406(1)
Operating Leverage
407(2)
Choosing a Cost Structure
409(6)
End of Chapter
415(28)
8 Relevant Costs for Short-Term Decisions
443(64)
How Do Managers Make Decisions?
444(1)
Relevant Information
444(1)
Keys to Making Short-Term Special Decisions
445(1)
Decision Pitfalls to Avoid
446(2)
How Do Managers Make Pricing and Special Order Decisions?
448(1)
Regular Pricing Decisions
448(5)
Special Order Decisions
453(7)
How Do Managers Make Other Special Business Decisions?
460(1)
Decisions to Discontinue Products, Departments, or Stores
460(4)
Product Mix Decisions When Resources Are Constrained
464(3)
Outsourcing Decisions (Make or Buy)
467(5)
Decisions to Sell As Is or Process Further
472(5)
End of Chapter
477(30)
9 The Master Budget
507(76)
How and Why Do Managers Use Budgets?
508(1)
How Are Budgets Used?
508(1)
How Are Budgets Developed?
508(2)
What Are the Benefits of Budgeting?
510(1)
What Is the Master Budget?
511(1)
How Are the Operating Budgets Prepared?
512(1)
Sales Budget
512(1)
Production Budget
513(2)
Direct Materials Budget
515(1)
Direct Labor Budget
516(1)
Manufacturing Overhead Budget
517(1)
Operating Expenses Budget
518(1)
Budgeted Income Statement
519(5)
How Are the Financial Budgets Prepared?
524(1)
Capital Expenditures Budget
524(1)
Cash Collections Budget
524(1)
Cash Payments Budget
525(2)
Combined Cash Budget
527(1)
Budgeted Balance Sheet
528(2)
Sensitivity Analysis and Flexible Budgeting
530(1)
How Do the Budgets for Service and Merchandising Companies Differ?
531(1)
Service Companies
531(1)
Merchandising Companies
531(2)
Impact of Credit and Debit Card Sales on Budgeting
533(7)
End of Chapter
540(43)
10 Performance Evaluation
583(127)
How Does Decentralization Affect Performance Evaluation?
584(1)
Advantages and Disadvantages of Decentralization
584(1)
Performance Evaluation Systems
585(1)
What Is Responsibility Accounting?
585(1)
Types of Responsibility Centers
586(2)
Responsibility Center Performance Reports
588(2)
Evaluation of Investment Centers
590(7)
What Is Transfer Pricing?
597(1)
Strategies and Mechanisms for Determining a Transfer Price
598(5)
How Do Managers Use Flexible Budgets to Evaluate Performance?
603(1)
Creating a Flexible Budget Performance Report
604(3)
Underlying Causes of the Variances
607(2)
How Do Companies Incorporate Nonfinancial Performance Measurement?
609(1)
The Balanced Scorecard
609(8)
End of Chapter
617(36)
Standard Costs and Variances
653(1)
What Are Standard Costs?
654(1)
Types of Standards
654(1)
Information Used to Develop and Update Standards
655(1)
Computing Standard Costs
655(3)
How Do Managers Use Standard Costs to Compute DM and DL Variances?
658(1)
Using Standard Costs to Develop the Flexible Budget
658(1)
Direct Materials Variances
658(6)
Direct Labor Variances
664(2)
Summary of Direct Materials and Direct Labor Variances
666(1)
Advantages and Disadvantages of Using Standard Costs and Variances
666(5)
How Do Managers Use Standard Costs to Compute MOH Variances?
671(1)
Variable Manufacturing Overhead Variances
671(2)
Fixed Manufacturing Overhead Variances
673(2)
Standard Costing Systems
675(4)
Appendix 11A
679(1)
Standard Costing
679(3)
Standard Costing Income Statement
682(1)
End of Chapter
683(27)
12 Capital Investment Decisions and the Time Value of Money
710(69)
What Is Capital Budgeting?
711(1)
Four Popular Methods of Capital Budgeting Analysis
711(1)
Focus on Cash Flows
712(1)
Capital Budgeting Process
712(2)
How Do Managers Calculate the Payback Period and Accounting Rate of Return?
714(1)
Payback Period
714(3)
Accounting Rate of Return (ARR)
717(6)
How Do Managers Compute the Time Value of Money?
723(1)
Factors Affecting the Time Value of Money
723(1)
Future Values and Present Values: Points Along the Time Continuum
724(1)
Future Value and Present Value Factors
725(1)
Calculating Future Values of Single Sums and Annuities Using FV Factors
726(1)
Calculating Present Values of Single Sums and Annuities Using PV Factors
727(3)
How Do Managers Calculate the Net Present Value and Internal Rate of Return?
730(1)
Net Present Value (NPV)
731(5)
Internal Rate of Return (IRR)
736(3)
How Do the Capital Budgeting Methods Compare?
739(4)
Appendix 12A
743(1)
Present Value Tables and Future Value Tables
743(1)
Table A Present Value of $1
743(1)
Table B Present Value of Annuity of $1
744(1)
Table C Future Value of $1
745(1)
Table D Future Value of Annuity of $1
746(1)
Appendix 12B
747(1)
Solutions to Chapter Examples Using Microsoft Excel
747(4)
Appendix 12C
751(1)
Using a TI-83, TI-83 Plus, TI-84, or TI-84 Plus Calculator to Perform Time Value of Money Calculations
751(6)
End of Chapter
757(22)
13 Statement of Cash Flows
779(59)
What Is the Statement of Cash Flows?
780(1)
Three Types of Activities That Generate and Use Cash
781(2)
Two Methods of Presenting Operating Activities
783(5)
How Is the Statement of Cash Flows Prepared Using the Indirect Method?
788(1)
Information Needed to Prepare the Statement of Cash Flows
788(1)
Preparing the Cash Flows from Operating Activities
788(6)
Preparing the Cash Flows from Investing Activities
794(2)
Preparing the Cash Flows from Financing Activities
796(2)
Interpreting the Statement of Cash Flows
798(1)
Recap: Steps to Preparing the Statement of Cash Flows Using the Indirect Method
798(1)
How Is the Statement of Cash Flows Prepared Using the Direct Method?
799(1)
Overview
799(1)
Determining Cash Payments and Receipts
800(8)
End of Chapter
808(30)
14 Financial Statement Analysis
838(56)
What Are the Most Common Methods of Analysis?
839(1)
What Is Horizontal Analysis?
839(2)
Horizontal Analysis of the Income Statement
841(1)
Horizontal Analysis of the Balance Sheet
841(1)
Trend Percentages
841(2)
What Is Vertical Analysis?
843(2)
How Do We Compare One Company with Another?
845(1)
Using Microsoft Excel
845(4)
What Are Some of the Most Common Financial Ratios?
849(1)
Measuring Ability to Pay Current Liabilities
849(1)
Measuring Ability to Sell Inventory and Collect Receivables
850(2)
Measuring Ability to Pay Long-Term Debt
852(1)
Measuring Profitability
853(4)
Analyzing Stock Investments
857(1)
Red Flags in Financial Statement Analysis
858(7)
End of Chapter
865(29)
15 Sustainability
894
What Is Sustainability, and How Does It Create Business Value?
895(1)
Historical Overview
896(1)
The Business Case for Sustainability
897(5)
What Is Sustainability Reporting?
902(1)
Current State of Sustainability Reporting
902(1)
Reasons for Sustainability Reporting
903(1)
Framework for Sustainability Reporting
903(5)
What Is Environmental Management Accounting (EMA)?
908(1)
EMA Systems
908(1)
Uses of Environmental Management Accounting Information
909(2)
Challenges to Implementing EMA Systems
911(1)
Future of Environmental Management Accounting
912(2)
End of Chapter
914
Glossary/Index 1

Librarian's View
Displaying 1 of 1