Fundamentals of Managerial Accounting is suitable for introductory managerial accounting courses taught at the undergraduate level at two- and four-year colleges and universities. It can also be used effectively with graduate-level courses that cover the fundamentals of managerial accounting.
Fundamentals of Managerial Accounting employs a clear and concise approach for students to learn the basics of key managerial accounting concepts. It also emphasizes the importance of understanding how managerial accounting fits into the larger picture of decision-making within organizations. Carefully developed to follow the standard scope and sequence of typical managerial accounting courses, this textbook encourages students to think like managers rather than to simply memorize concepts.
New in This Version
- Ethics cases throughout the text (e.g., Chapter 1 skill-building case 53; Chapter 2 skill-building case 40; Chapter 5 comprehensive case 51; Chapter 6 comprehensive case 63; Chapter 7 skill-building case 65)
- Updated Institute of Management Accountants (IMA) Statement of Ethical Professional Practice (Chapter 1, Table 1.2)
- New Business-in-Action vignettes and related end-of-chapter questions include:
- Fraud at engine manufacturing company (Business-in-Action 1.3)
- Efficient packaging at Amazon (Business-in-Action 3.4)
- Oil industry price per barrel break-even point (Business-in-Action 6.1)
- Outsourcing decision at Parallax (Business-in-Action 7.1)
- Store closing decision at Best Buy (Business-in-Action 7.2)
- Product line decision at Chevrolet (Business-in-Action 7.3)
- Tesla’s China production facility decision (Business-in-Action 8.1)
- Retailers budgeting for holiday product returns (Business-in-Action 9.1)
- Biggest advertising spenders and budgeting for advertising spending (Business-in-Action 9.2)
- Direct materials variance analysis and the impact of rising cocoa prices on chocolate producers (Business-in-Action 10.2)
- Direct labor variance analysis and automating fulfillment of online grocery orders at Walmart (Business-in-Action 10.3)
- Segmented income statement at Hewlett Packard (Business-in-Action 11.2)
- Internal performance measures at General Electric (Business-in-Action 11.3)
- Analyzing cash flows at Southwest Airlines (Business-in-Action 12.1)
- Comparing cash flows at Home Depot and Lowe’s (Business-in-Action 12.2)
- Dividend payments and stock repurchases at Apple (Business-in-Action 12.4)
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Additions & Errata
Fall 2021
- Table 8.3 footnote ** now refers to Table 8.8 rather than Table 8.7
- Table 8.7 number shown for 10% and 7 periods is now 0.5132 rather than 0.5645
- Table 8.8: The number for 15% and period 4 is now 2.8550 rather than 2.2832
- Table 8.8: The number for 18% and period 18 is now 5.2732 rather than 5.2223