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Managerial Accounting An Introduction to Concepts, Methods and Uses

by: Maher, Michael W.; Stickney, Clyde P.; Weil, Roman L.

Managerial Accounting An Introduction to Concepts, Methods and Uses

by: Maher, Michael W.; Stickney, Clyde P.; Weil, Roman L.

ISBN 13:
9780324185638
ISBN 10:
0324185634
Format: Hardcover
Copyright: 06/11/2003
Publisher: South-Western College Pub
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Summary

This classic text for MBA programs offers balanced coverage of concepts, methods, and uses of managerial accounting with an increasingly strong emphasis on management decision-making. This approach helps to focus on concepts and managerial uses of financial information rather than techniques of cost accounting. The current edition emphasizes international issues, strategic effect of decisions, ethics, and the inclusion of new management accounting trends. Also emphasized are process improvement, integration of financial reporting issues for management decision-making, and application of managerial accounting tools to the emerging service sector, government, and nonprofits in examples and problem material.

Preface

PART ONE OVERVIEW AND BASIC CONCEPTS

(126)

Fundamental Concepts

(34)

User Orientation

(1)

Managerial Application: Why Managers Need Cost Information

(1)

Comparing Financial and Managerial Accounting

(1)

Problem 1.1 for Self-Study

(1)

Implementing Strategies

(1)

Misuses of Accounting Information

(1)

Key Financial Players in the Organization

(2)

Professional Environment

(3)

Managerial Application: J & J's Credo

(1)

Understanding Basic Cost Concepts

(3)

Contrasting Income Statements for Managerial Use to Those for External Reporting

(2)

Problem 1.2 for Self-Study

(1)

Managing Costs

(2)

Combining the Value Chain and Strategic Cost Analysis

(3)

Managerial Accounting in Modern Production Environments

(2)

Problem 1.3 for Self-Study

(1)

Costs and Benefits of Accounting

(1)

The Makeup of the Book

(1)

Summary

(1)

Key Terms and Concepts

(1)

Solutions to Self-Study Problems

(1)

Appendix 1.1: Standards of Ethical Conduct for Management Accountants

(2)

Questions, Exercises, Problems, and Cases

(5)

Suggested Solutions to Even-Numbered Exercises

(2)

Measuring Product Costs

(48)

Product Costs in Manufacturing Companies

(1)

Recording Costs by Department and Assigning Costs to Products

(1)

Fundamental Accounting Model of Cost Flows

(2)

Problem 2.1 for Self-Study

(1)

Managerial Application: Using the Basic Cost Flow Equation to Detect Fraud

(1)

Cost Measure: Actual or Normal Costing

(2)

Terminology Note

(1)

Problem 2.2 for Self-Study

(1)

Choosing the Right Cost System

(2)

Job and Process Costing Systems

(1)

Problem 2.3 for Self-Study

(1)

Service Organizations: Quality and Service Issues

(3)

Problem 2.4 for Self-Study

(1)

Customer Profitability Analysis

(1)

Ethical Issues in Job Costing

(1)

Just-in-Time (JIT) Methods

(3)

Problem 2.5 for Self-Study

(1)

Do Integrated Accounting Systems Satisfy Managerial Needs?

(1)

Summary

(1)

Key Terms and Concepts

(1)

Appendix 2.1: Computing Costs of Equivalent Production

(4)

Solutions to Self-Study Problems

(2)

Questions, Exercises, Problems, and Cases

(14)

Suggested Solutions to Even-Numbered Exercises

(5)

Activity-Based Management

(43)

Strategic Use of Activity-Based Management

(1)

Activity Analysis

(2)

Traditional Methods versus Activity-Based Costing

(2)

Activity-Based Costing

(1)

Activity-Based Costing Methods

(3)

Activity-Based Costing Illustrated

(3)

Problem 3.1 for Self-Study

(1)

Activity-Based Management and Costing in Marketing

(2)

Problem 3.2 for Self-Study

(6)

Managerial Application: Identifying Unused Capacity in the Recovery Room

100

(4)

Managerial Application: Impact of ABC on Shareholder Value

104

(1)

Summary

104

(1)

Key Terms and Concepts

105

(1)

Solutions to Self-Study Problems

105

(1)

Questions, Exercises, Problems, and Cases

106

(17)

Suggested Solutions to Even-Numbered Exercises

123

(4)

PART TWO MANAGERIAL DECISION MAKING

127

(224)

Strategic Management of Costs, Quality, and Time

128

(28)

Why Is Quality Important?

129

(1)

Traditional versus Quality-Based View

130

(1)

Quality According to the Customer

130

(2)

Quality Control

132

(1)

Costs of Failing to Control and Improve Quality

133

(1)

Trading Off Quality Control and Failure Costs

133

(2)

Problem 4.1 for Self-Study

135

(1)

Measuring the Cost of Quality in a Nonmanufacturing Setting

136

(1)

Does Quality Really Have a Cost?

136

(1)

Managerial Application: Firestone Blows It

137

(1)

Identifying Quality Problems

137

(2)

Just-in-Time and Total Quality Management

139

(1)

The Importance of Time in a Competitive Environment

140

(2)

Using Activity-Based Management to Improve Customer Response Time

142

(1)

Using the Balanced Scorecard to Measure Performance

142

(2)

Managerial Application: Reducing Delivery Time to Gain a Competitive Advantage

143

(1)

Traditional Managerial Accounting Systems Can Limit the Impact of Total Quality Management

144

(1)

Summary

145

(1)

Key Terms and Concepts

146

(1)

Solution to Self-Study Problem

146

(1)

Questions, Exercises, and Problems

147

(6)

Suggested Solutions to Even-Numbered Exercises

153

(3)

Cost Drivers and Cost Behavior

156

(50)

The Nature of Fixed and Variable Costs

158

(4)

Types of Fixed Costs

162

(1)

Other Cost Behavior Patterns

162

(3)

Problem 5.1 for Self-Study

165

(3)

Problem 5.2 for Self-Study

168

(1)

Cost Estimation Methods

168

(1)

Estimating Costs Using Historical Data

168

(8)

Problem 5.3 for Self-Study

176

(2)

Data Problems

178

(1)

Ethical Issues in Data Analysis

178

(1)

Managerial Application: United Airlines Uses Regression to Estimate Cost Behavior

179

(1)

Strengths and Weaknesses of Cost Estimation Methods

179

(2)

Problem 5.4 for Self-Study

181

(1)

Summary

182

(1)

Key Terms and Concepts

183

(1)

Solutions to Self-Study Problems

183

(3)

Appendix 5.1: Deriving Learning Curves

186

(1)

Appendix 5.2: Interpreting Regression Analysis Output

187

(2)

Questions, Exercises, and Problems

189

(14)

Suggested Solutions to Even-Numbered Exercises

203

(3)

Financial Modeling for Short-Term Decision Making

206

(44)

What Is Financial Modeling?

207

(1)

The Cost-Volume-Profit Model

208

(1)

Terminology Note

208

(5)

Applications of Financial Modeling

213

(1)

Problem 6.1 for Self-Study

214

(2)

Problem 6.2 for Self-Study

216

(2)

Using Sales Dollars as a Measure of Volume

218

(1)

Income Taxes

219

(1)

Managerial Application: Calculating Break-Even Points for a Brewpub

220

(1)

Multiple Product Financial Modeling

220

(4)

Problem 6.3 for Self-Study

224

(1)

Simplifications and Assumptions

225

(1)

Financial Modeling and ABC's Multiple-Cost Drivers

226

(3)

Summary

229

(1)

Key Terms and Concepts

230

(1)

Solutions to Self-Study Problems

230

(2)

Questions, Exercises, Problems, and Cases

232

(13)

Suggested Solutions to Even-Numbered Exercises

245

(5)

Differential Cost Analysis for Marketing Decisions

250

(26)

The Differential Principle

251

(3)

Major Influences on Pricing

254

(1)

Short-Run versus Long-Run Pricing Decisions

255

(1)

Differential Approach to Pricing

256

(1)

Problem 7.1 for Self-Study

256

(1)

Long-Run Pricing Decisions

257

(1)

Managerial Application: Pricing Practices in Various Countries

258

(1)

Using Target Prices to Set Target Costs

258

(2)

Managerial Application: A Target Costing Challenge in Forest Products

259

(1)

Legal Issues Relating Costs to Prices

260

(1)

Customer Profitability and Differential Analysis

260

(2)

Problem 7.2 for Self-Study

262

(1)

Summary

263

(1)

Key Terms and Concepts

263

(1)

Solutions to Self-Study Problems

264

(1)

Questions, Exercises, and Problems

264

(10)

Suggested Solutions to Even-Numbered Exercises

274

(2)

Differential Cost Analysis for Production Decisions

276

(40)

Product Choice Decisions

277

(3)

Theory of Constraints and Throughput Contribution Analysis

280

(2)

Make-or-Buy Decisions

282

(1)

Problem 8.1 for Self-Study

283

(1)

Joint Products: Sell or Process Further

283

(2)

Problem 8.2 for Self-Study

285

(1)

Adding and Dropping Parts of Operations

285

(1)

Problem 8.3 for Self-Study

286

(1)

Inventory Management Decisions

287

(2)

Innovations in Inventory Management and Flexible Manufacturing

289

(1)

Problem 8.4 for Self-Study

290

(1)

Summary

290

(1)

Key Terms and Concepts

291

(1)

Solutions to Self-Study Problems

292

(1)

Appendix 8.1: Linear Programming

293

(6)

Appendix 8.2: Economic Order Quantity Model

299

(1)

Questions, Exercises, Problems, and Cases

300

(13)

Suggested Solutions to Even-Numbered Exercises

313

(3)

Capital Expenditure Decisions

316

(35)

Capital Budgeting: Investment and Financing Decisions

318

(1)

Strategic Considerations

318

(1)

Managerial Application: Environmental Investments

319

(1)

Discounted Cash Flow

319

(3)

A Basic Example of Discounted Cash Flow Analysis

322

(1)

Expanded Example of Discounted Cash Flow Analysis

323

(1)

Problem 9.1 for Self-Study

324

(1)

Sensitivity of Net Present Value to Estimates

325

(3)

Internal Rate of Return

328

(1)

Net Present Value and Internal Rate of Return: A Comparison

328

(1)

Problem 9.2 for Self-Study

329

(1)

Justification of Investments in Advanced Production Systems

329

(2)

Managerial Application: Investing in Improved Technology

329

(2)

Problem 9.3 for Self-Study

331

(1)

Identifying Good Investments

332

(1)

Audits and Capital Budgeting

333

(1)

Behavioral Issues

333

(1)

Summary

334

(1)

Key Terms and Concepts

335

(1)

Solutions to Self-Study Problems

336

(3)

Questions, Exercises, Problems, and Cases

339

(8)

Suggested Solutions to Even-Numbered Exercises

347

(4)

PART THREE MOTIVATING MANAGERS TO MAKE GOOD DECISIONS

351

(239)

Profit Planning and Budgeting

352

(52)

Stragetic Planning

353

(1)

The Organizational Plan

354

(1)

The Human Element in Budgeting

355

(3)

Managerial Application: Honesty in Managerial Reporting

357

(1)

Tools for Planning and Performance Evaluation

358

(2)

The Process of Developing the Master Budget

360

(1)

Managerial Application: Developing Master Budgets Throughout the World

360

(1)

Where to Start? With Your Customers (Forecasting Sales)

360

(2)

Victoria's Gourmet Coffee: A Comprehensive Illustration

362

(7)

Managerial Application: Using the Internet for Budgeting

369

(1)

Incentives for Accurate Forecasts

369

(1)

Comparison of the Flexible and Master Budgets

369

(3)

Problem 10.1 for Self-Study

372

(1)

Budgeting in Nonprofit Organizations

372

(1)

Ethical Issues in Budgeting

372

(1)

Establishing an Operating Budget in the Real World

373

(3)

Summary

376

(1)

Key Terms and Concepts

377

(1)

Solution to Self-Study Problem

377

(1)

Appendix 10.1: Comprehensive Master Budget---Victoria's Gourmet Coffee

378

(6)

Appendix 10.2: Incentive Model for Accurate Reporting

384

(2)

Questions, Exercises, Problems, and Cases

386

(13)

Suggested Solutions to Even-Numbered Exercises

399

(5)

Profit Center Performance Evaluation

404

(34)

Variance Analysis

405

(3)

Problem 11.1 for Self-Study

408

(1)

Responsibility for Variances

409

(2)

Overview of Variances

411

(1)

Profit Variance Analysis for Service and Merchandise Organizations

411

(1)

Problem 11.2 for Self-Study

412

(1)

Beyond the Numbers

412

(2)

Performance Evaluation: The Process

414

(2)

Performance Measurement: The Measures

416

(3)

Managerial Application: Does Effective Total Quality Management Require Nontraditional Performance Measures?

418

(1)

Employee Involvement

419

(1)

Summary

420

(1)

Key Terms and Concepts

421

(1)

Solutions to Self-Study Problems

422

(1)

Questions, Exercises, Problems, and Cases

423

(12)

Suggested Solutions to Even-Numbered Exercises

435

(3)

Cost Center Performance Evaluation

438

(44)

Production Cost Variance Analysis

439

(2)

Responsibility for Production Variances

441

(2)

Reasons for Materials, Labor, and Variable Manufacturing Overhead Variances

443

(1)

Managerial Application: An Antidote to Biased Standards: How Workers Develop Their Own Standards at NUMMI

444

(1)

Problem 12.1 for Self-Study

444

(1)

Fixed Manufacturing Cost Variances

445

(2)

Variable Overhead in Service Organizations

447

(1)

Problem 12.2 for Self-Study

448

(1)

Preparing and Analyzing Additional Production Cost Variances

448

(1)

Problem 12.3 for Self-Study

448

(2)

Problem 12.4 for Self-Study

450

(7)

Problem 12.5 for Self-Study

457

(1)

Activity-Based Standard Costing

457

(1)

Variance Analysis in High-Technology Companies

458

(1)

Quality Control and Variance Investigation

459

(2)

Quality Management and the Baldrige Award

461

(1)

Problem 12.6 for Self-Study

462

(1)

Summary

462

(1)

Key Terms and Concepts

463

(1)

Appendix 12.1: Mix Variances

464

(1)

Problem 12.7 for Self-Study

465

(1)

Solutions to Self-Study Problems

466

(2)

Questions, Exercises, Problems, and Cases

468

(9)

Suggested Solutions to Even-Numbered Exercises

477

(5)

Investment Center Performance Evaluation

482

(42)

Divisional Organization and Performance

483

(2)

Return on Investment as the Performance Measure

485

(1)

Transfer Pricing: Measuring Divisional Revenue and Costs for Transactions inside the Organization

486

(2)

Alternative Ways to Set Transfer Prices

488

(4)

Problem 13.1 for Self-Study

492

(1)

Global Transfer Pricing Practices

493

(1)

Multinational and Multistate Transfer Pricing

493

(2)

Managerial Application: Just-In-Time Production in Japan and the Internal Revenue Service in the United States

494

(1)

Problem 13.2 for Self-Study

495

(1)

Measuring Division Operating Costs

495

(2)

Measuring the Investment in Divisions

497

(1)

Contribution Approach to Division Reporting

497

(1)

Components of Return on Investment

498

(1)

Economic Value Added

499

(4)

Managerial Application: Does Economic Value Added Beat Earnings?

502

(1)

Problem 13.3 for Self-Study

503

(1)

Summary

503

(2)

Key Terms and Concepts

505

(1)

Solutions to Self-Study Problems

505

(1)

Questions, Exercises, Problems, and Cases

506

(14)

Suggested Solutions to Even-Numbered Exercises

520

(4)

Incentive Issues

524

(36)

Divisional Incentive Compensation Plans

525

(3)

Managerial Application: Conflicts in an Incentive Compensation Plan

527

(1)

Views of Behavior

528

(1)

Using the Balanced Scorecard

529

(3)

Building the Incentive Plan around the Balanced Scorecard

532

(6)

Managerial Application: Cost Management in Action: Why Hewlett-Packard Now Manages Suppliers Instead of Overhead

533

(2)

Managerial Application: Does Customer Satisfaction Pay Off?

535

(2)

Managerial Application: Successfully Implementing the Balanced Scorecard: The FMC Experience

537

(1)

Problem 14.1 for Self-Study

538

(1)

Motivational Issues in Designing Incentive Systems for Division Managers and Their Subordinates

538

(3)

Applications to Nonprofit Organizations

541

(1)

Problems with Incentive Compensation Plans

542

(1)

Fraudulent Financial Reporting

543

(1)

Types of Fraud

544

(2)

Managerial Application: Software Company's Stock Tanks after Premature Revenue Recognition Disclosed

545

(1)

Causes of Financial Fraud

546

(2)

Environmental Conditions

548

(1)

Controls to Prevent Fraud

548

(1)

Incentive Problems in International Markets

549

(1)

Problem 14.2 for Self-Study

550

(1)

Summary

550

(1)

Key Terms and Concepts

551

(1)

Solutions to Self-Study Problems

551

(1)

Questions, Exercises, Problems, and Cases

552

(7)

Suggested Solutions to Even-Numbered Exercises

559

(1)

Allocating Costs to Responsibility Centers

560

(30)

The Nature of Common Costs

561

(1)

Managerial Application: Allocating Corporate Costs to Retail Stores

562

(1)

Cost Allocation

562

(5)

Problem 15.1 for Self-Study

567

(1)

Marketing and Administrative Expenses

568

(1)

Allocating Joint-Process Costs

568

(2)

Joint-Process Cost Allocation Methods

570

(1)

Problem 15.2 for Self-Study

571

(1)

Problem 15.3 for Self-Study

572

(1)

Summary

572

(1)

Key Terms and Concepts

573

(1)

Solutions to Self-Study Problems

573

(3)

Questions, Exercises, Problems, and Cases

576

(11)

Suggested Solutions to Even-Numbered Exercises

587

(3)

Appendix: Compound Interest Examples and Applications

590

(19)

Compound Interest and Annuity Tables

609

(6)

Glossary

615

(90)

Index

705

Amazon no longer offers textbook rentals. We do!

Managerial Accounting An Introduction to Concepts, Methods and Uses

Managerial Accounting An Introduction to Concepts, Methods and Uses

9780324185638

0324185634

Summary

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

Managerial Accounting An Introduction to Concepts, Methods and Uses

Managerial Accounting An Introduction to Concepts, Methods and Uses

9780324185638

0324185634

Summary

Table of Contents

Supplemental Materials

Write a Review

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