Summary: Welcome to our book, Managerial Accounting. Our book presents managerial accounting in the context of a big-picture, decision oriented, business setting. It integrates traditional coverage with new, cutting-edge, topics such as strategic analysis, value chain, value added, virtual integration, process mapping, upstream, downstream, internal failure, external failure, structural cost drivers, outsourcing, managerial ethics, and cost hierarchy. It does this with an eye ...show more toward simplicity and accessibility for the general business student since a book is not useful if it is not read. An overriding aim of our book is to engage students to read further and understand the materials presented.
Managerial accounting focuses on using financial and nonfinancial information by insiders to make strategic, organizational, and operational decisions. Our book provides a framework for identifying and analyzing decision alternatives and for evaluating success or failure in accomplishing such organizational goals. Although accountants are important in the managerial accounting process, managerial accounting is more about managerial tools than processes. In our era of global competition, continuous improvement, process reengineering, and employee empowerment, managerial accounting is used by decision makers at all levels, rather than just by ''managers.'' One goal of our book is to introduce students to this reality.
Our book is written for all business students - not just accounting students. We place managerial accounting in a broad business context, relating it to other business areas. We also avoid details that are appropriate for advanced cost accounting books. Like the trunk of a tree, our book serves as a strong base for students' future knowledge growth and as a means of unifying the branches of business management.
We also emphasize use of managerial accounting information for decision making within the context of organizational strategy. The organization and content of our book reflect our belief that students who understand the big picture are better learners, are better decision makers, and are better able to apply what they learn. That is, if we have or know how to develop a map of the forest, we are less apt to get lost among the trees. ...show less
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