Published: July 2016
Page Count: 712
ISBN (Digital): 978-1-4533-7572-3

Managerial Accounting

Version 2.1
By Kurt Heisinger and Joe Ben Hoyle

Included Supplements

Homework

Manual

Slides

Tests

Key Features

Employs carefully constructed headings phrased as questions to stimulate critical-thinking skills. Concise and jargon-free approach.
Nearly 100 author-recorded embedded video lessons preview material, explain key topics, and summarize chapter high points to support and expand online learning.
Over 150 hyperlinks to additional videos and other web-based resources enhance online courses.
Realistic managerial scenarios are presented at the beginning of each chapter outlining an issue that must be addressed by the management accountant.
Excel-based Working Papers that can be completed online or printed.
Customizable.

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Managerial Accounting, v2.1 is a thoughtful, step-by-step approach to key accounting practices that encourages learners to understand how accounting fits into the larger picture of business decision making. Carefully developed to follow the standard scope and sequence of the typical managerial accounting course, this textbook encourages students to think like business partners and accountants, rather than simply memorize operations.

New in This Version

Revised YouTube lecture videos created by author Kurt Heisinger.
Updated end-of-chapter exercises and added working paper Excel files for students to use.
New “Business in Action” vignettes added to each chapter.
Relevant financial coverage of real companies.

1.1 Characteristics of Managerial Accounting

1.2 Planning and Control Functions Performed by Managers

1.3 Key Finance and Accounting Personnel

1.4 Ethical Issues Facing the Accounting Industry

1.5 Computerized Accounting Systems

1.6 Cost Terminology

1.7 How Product Costs Flow through Accounts

1.8 Income Statements for Manufacturing Companies

1.9 End-of-Chapter Exercises

Chapter 2: How Is Job Costing Used to Track Production Costs?

2.1 Differentiating Job Costing from Process Costing

2.2 How a Job Costing System Works

2.3 Assigning Manufacturing Overhead Costs to Jobs

2.4 Job Costing in Service Organizations

2.5 Chapter Wrap-Up: Summary of Cost Flows at Custom Furniture Company

2.6 End-of-Chapter Exercises

Chapter 3: How Does an Organization Use Activity-Based Costing to Allocate Overhead Costs?

3.1 Why Allocate Overhead Costs?

3.2 Approaches to Allocating Overhead Costs

3.3 Using Activity-Based Costing to Allocate Overhead Costs

3.4 Using Activity-Based Management to Improve Operations

3.5 Using Activity-Based Costing (ABC) and Activity-Based Management (ABM) in Service Organizations

3.6 Variations of Activity-Based Costing (ABC)

3.7 End-of-Chapter Exercises

Chapter 4: How Is Process Costing Used to Track Production Costs?

4.1 Comparison of Job Costing with Process Costing

4.2 Product Cost Flows in a Process Costing System

4.3 Determining Equivalent Units

4.4 The Weighted Average Method

4.5 Preparing a Production Cost Report

4.6 End-of-Chapter Exercises

Chapter 5: How Do Organizations Identify Cost Behavior Patterns?

5.1 Cost Behavior Patterns

5.2 Cost Estimation Methods

5.3 The Contribution Margin Income Statement

5.4 The Relevant Range and Nonlinear Costs

5.5 Appendix: Performing Regression Analysis with Excel

5.6 End-of-Chapter Exercises

Chapter 6: How Is Cost-Volume-Profit Analysis Used for Decision Making?

6.1 Cost-Volume-Profit Analysis for Single-Product Companies

6.2 Cost-Volume-Profit Analysis for Multiple-Product and Service Companies

6.3 Using Cost-Volume-Profit Models for Sensitivity Analysis

6.4 Impact of Cost Structure on Cost-Volume-Profit Analysis

6.5 Using a Contribution Margin When Faced with Resource Constraints

6.6 Income Taxes and Cost-Volume-Profit Analysis

6.7 Using Variable Costing to Make Decisions

6.8 End-of-Chapter Exercises

Chapter 7: How Are Relevant Revenues and Costs Used to Make Decisions?

7.1 Using Differential Analysis to Make Decisions

7.2 Make-or-Buy Decisions

7.3 Product Line Decisions

7.4 Customer Decisions

7.5 Review of Cost Terms Used in Differential Analysis

7.6 Special Order Decisions

7.7 Cost-Plus Pricing and Target Costing

7.8 Identifying and Managing Bottlenecks

7.9 Be Aware of Qualitative Factors

7.10 Appendix: Making Decisions Involving Joint Costs

7.11 End-of-Chapter Exercises

Chapter 8: How Is Capital Budgeting Used to Make Decisions?

8.1 Capital Budgeting and Decision Making

8.2 Net Present Value

8.3 The Internal Rate of Return

8.4 Other Factors Affecting NPV and IRR Analysis

8.5 The Payback Method

8.6 Additional Complexities of Estimating Cash Flows

8.7 The Effect of Income Taxes on Capital Budgeting Decisions

8.8 Appendix: Present Value Tables

8.9 End-of-Chapter Exercises

Chapter 9: How Are Operating Budgets Created?

9.1 Planning and Controlling Operations

9.2 The Budgeting Process

9.3 The Master Budget

9.4 Budgeting in Nonmanufacturing Organizations

9.5 Ethical Issues in Creating Operating Budgets

9.6 End-of-Chapter Exercises

Chapter 10: How Do Managers Evaluate Performance Using Cost Variance Analysis?

10.1 Flexible Budgets

10.2 Standard Costs

10.3 Direct Materials Variance Analysis

10.4 Direct Labor Variance Analysis

10.5 Variable Manufacturing Overhead Variance Analysis

10.6 Determining Which Cost Variances to Investigate

10.7 Using Variance Analysis with Activity-Based Costing

10.8 Fixed Manufacturing Overhead Variance Analysis

10.9 Appendix: Recording Standard Costs and Variances

10.10 End-of-Chapter Exercises

Chapter 11: How Do Managers Evaluate Performance in Decentralized Organizations?

11.1 Using Decentralized Organizations to Control Operations

11.2 Maintaining Control over Decentralized Organizations

11.3 Comparing Segmented Income for Investment Centers

11.4 Using Return on Investment (ROI) to Evaluate Performance

11.5 Using Residual Income (RI) to Evaluate Performance

11.6 Using Economic Value Added (EVA) to Evaluate Performance

11.7 Wrap-Up of Game Products, Inc.

11.8 Appendix: Transfer Prices between Divisions

11.9 End-of-Chapter Exercises

Chapter 12: How Is the Statement of Cash Flows Prepared and Used?

12.1 Purpose of the Statement of Cash Flows

12.2 Three Types of Cash Flow Activities

12.3 Four Key Steps to Preparing the Statement of Cash Flows

12.4 Using the Indirect Method to Prepare the Statement of Cash Flows

12.5 Analyzing Cash Flow Information

12.6 Appendix: Using the Direct Method to Prepare the Statement of Cash Flows

12.7 End-of-Chapter Exercises

Chapter 13: How Do Managers Use Financial and Nonfinancial Performance Measures?

13.1 Trend Analysis of Financial Statements

13.2 Common-Size Analysis of Financial Statements

13.3 Ratio Analysis of Financial Information

13.4 Wrap-Up of Chapter Example

13.5 Nonfinancial Performance Measures: The Balanced Scorecard

13.6 End-of-Chapter Exercises

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Instructor’s Manual

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PowerPoint Lecture Notes

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Solutions Manual

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Kurt Heisinger

Sierra College

Kurt Heisinger (CMA, CPA, MBA) teaches financial and managerial accounting full time and holds a tenured position at Sierra College. He recently received the Faculty of the Year award, which was voted on and presented by the Associated Students of Sierra College. Kurt has also taught accounting classes at the University of California at Davis, Sacramento City College, and American River College.

Kurt began his career in public accounting with Ernst & Young and continued as a manager of a large local accounting firm in Northern California. He received his MBA at the University of California at Davis and is a certified management accountant (CMA) and certified public accountant (CPA). The knowledge Kurt gained from his seven years in industry and more than twenty years in education has enabled him to write a clear and concise book aimed at students with a variety of backgrounds.

Joe Ben Hoyle

University of Richmond

Joe Hoyle is an Associate Professor of Accounting at the Robins School of Business at the University of Richmond. In 2006, he was named by Businessweek as one of 26 favorite undergraduate business professors in the United States. In 2007, he was selected as the Virginia Professor of the Year by the Carnegie Foundation for the Advancement of Teaching and the Council for the Advancement and Support of Education. In 2009, he was judged to be one of the 100 most influential members of the accounting profession by Accounting Today. In 2015, he was the inaugural recipient of the J. Michael and Mary Anne Cook Prize, recognized for consistently demonstrating the attributes of a superior teacher in the accounting discipline at an undergraduate level. Hoyle earned his BA degree in accounting from Duke University and his MA degree in business and economics, with a minor in education, from Appalachian State University. Hoyle also has three decades of experience operating his own CPA (Certified Public Accountant) Exam review programs. In 2008, he created CPA Review for Free (http://www.CPAreviewforFREE.com), which provides thousands of free questions to help accountants around the world prepare for the CPA Exam.