Managerial Accounting, 6th Edition [Rental Edition]
, by Jiambalvo, James![Managerial Accounting, 6th Edition [Rental Edition] by Jiambalvo, James, 9781119571445](https://simages.biggerbooks.com/images/d/1/445/9781119571445.jpg "Managerial Accounting, 6th Edition [Rental Edition] by Jiambalvo, James, 9781119571445")
- ISBN: 9781119571445 | 1119571448
- Cover: Hardcover
- Copyright: 7/23/2019
Dr. James Jiambalvo joined the accounting faculty at the University of Washington and has served on the national academic advisory board of Deloitte & Touche LLP. Professor Jiambalvo has served as chairman of the UW Accounting Department and he holds the PricewaterhouseCoopers and Alumni Endowed Professorship. Professor Jiambalvo's research has been published in the top accounting journals including The Accounting Review, Contemporary Accounting Research, the Journal of Accounting and Economics, and the Journal of Accounting Research.
1 Managerial Accounting in the Information Age 2
Goal of Managerial Accounting 4
Cost Terms Used in Discussing Planning, Control, and Decision Making 8
Two Key Ideas in Managerial Accounting 12
The Information Age and Managerial Accounting 14
Ethical Considerations in Managerial Decision Making 18
The Controller as the Top Management Accountant 21
Summary of Learning Objectives 23
Appendix IMA Statement of Ethical Professional Practice2 24
Review Problems 25
Key Terms 26
Self-Assessment 26
Questions 27
Exercises 28
Problems 31
Cases 34
2 Job-Order Costing for Manufacturing and Service Companies 36
Cost Classifications for Manufacturing Firms 38
Product Cost Information in Financial Reporting and Decision Making 41
Balance Sheet Presentation of Product Costs 42
Flow of Product Costs in Accounts 43
Income Statement Presentation of Product Costs 43
Types of Costing Systems 46
Overview of Job Costs and Financial Statement Accounts 46
Job-Order Costing System 48
Eastlake Revisited: Using Job Cost Information 53
Relation Between the Costs of Jobs and the Flow of Costs in Work in Process, Finished Goods, and Cost of Goods Sold 55
Allocating Overhead to Jobs: A Closer Look 56
Predetermined Overhead Rates 58
Job-Order Costing for Service Companies 60
Modern Manufacturing Practices and Product Costing Systems 63
Summary of Learning Objectives 67
Review Problems 68
Key Terms 71
Self-Assessment 71
Questions 72
Exercises 72
Problems 76
Cases 83
3 Process Costing 86
Difference Between Job-Order and Process Costing Systems 88
Product and Cost Flows 89
Product Flows through Departments 89
Calculating and Applying Cost Per Equivalent Unit: Mixing Department Example 93
Production Cost Report 95
Basic Steps in Process Costing: A Summary 97
Kent Chemical Revisited: Answering Stacy’s Question 98
Dealing with Transferred-In Cost: Packaging Department Example 98
Process Costing and incremental analysis 100
“You get What You measure!” and manufacturing processes 102
Summary of Learning Objectives 102
Review Problems 103
Key Terms 105
Self-Assessment 106
Questions 107
Exercises 107
Problems 111
Cases 119
4 Cost-Volume-Profit Analysis 122
Common Cost Behavior Patterns 124
Cost Estimation Methods 129
Cost-Volume-Profit Analysis 136
Multiproduct Analysis 141
Assumptions in CVP Analysis 145
Codeconnect Example Revisited: Answering Mary’s Questions 146
Operating Leverage 148
Constraints 149
Summary of Learning Objectives 150
Appendix Using Regression in Excel to Estimate Fixed and Variable Costs 150
Review Problems 152
Key Terms 154
Self-Assessment 154
Questions 155
Exercises 156
Problems 161
Cases 170
5 Variable Costing 174
Full (Absorption) and Variable Costing 176
Effects of Production On Income for Full Versus Variable Costing: The Clausentube Example 178
Benefits of Variable Costing for Internal Reporting 185
Variable Costing Limits Management of Earnings via Production Volume 186
Summary of Learning Objectives 186
Review Problems 187
Key Terms 189
Self-Assessment 189
Questions 190
Exercises 191
Problems 193
Cases 202
6 Cost Allocation and Activity-Based Costing 204
Purposes of Cost Allocation 206
Process of Cost Allocation 209
Allocating Service Department Costs 212
Problems with Cost Allocation 213
Activity-Based Costing 218
Activity-Based Management 226
Remember—You Get What You Measure! 228
Summary of Learning Objectives 228
Appendix Activity-Based Management 229
Conclusion 231
Review Problems 231
Key Terms 234
Self-Assessment 234
Questions 235
Exercises 236
Problems 240
Cases 251
7 The Use of Cost Information in Management Decision Making 254
Incremental Analysis 256
Analysis of Decisions Faced by Managers 259
Decisions Involving Joint Costs 269
Qualitative Considerations in Decision Analysis 271
Summary of Learning Objectives 273
Appendix The Theory of Constraints 273
The Five-Step Process of Toc 273
Implications of TOC for Inspections, Batch Sizes, and Across-The-Board Cuts 275
Review Problems 276
Key Terms 278
Self-Assessment 278
Questions 279
Exercises 279
Problems 284
Cases 292
8 Pricing Decisions, Customer Profitability Analysis, and Activity-Based Pricing 294
The Profit-Maximizing Price 296
Pricing Special Orders 297
Cost-Plus Pricing 299
Target Costing 301
Analyzing Customer Profitability: Revisiting the Priced Right Office Supplies Case 302
Customer Profitability and Performance Measures 306
Activity-Based Pricing 306
Summary of Learning Objectives 307
Review Problems 308
Key Terms 313
Self-Assessment 313
Questions 314
Exercises 314
Problems 319
Cases 324
9 Capital Budgeting and Other Long-Run Decisions 326
Capital Budgeting Decisions 328
Evaluating Investment Opportunities: Time Value of Money Approaches 328
Considering “Soft” Benefits in Investment Decisions 337
Estimating the Required Rate of Return 339
Additional Cash Flow Considerations 340
Other Long-Run Decisions 343
Simplified Approaches to Capital Budgeting 344
Conflict Between Performance Evaluation and Capital Budgeting 347
Wilson Air Example Revisited 349
Summary of Learning Objectives 350
Appendix A Using Excel® to Calculate NPV and IRR 350
Review Problems 354
Key Terms 355
Self-Assessment 355
Questions 356
Exercises 357
Problems 359
Cases 366
10 Budgetary Planning and Control 368
Use of Budgets in Planning and Control 370
Developing the Budget 370
The Master Budget 373
Use of Computers in the Budget Planning Process 383
Investigating Budget Variances 386
Conflict in Planning and Control Uses of Budgets 387
Evaluation, Measurement, and Management Behavior 389
The Preston Joystick Case Revisited 390
Summary of Learning Objectives 390
Review Problems 391
Key Terms 395
Self-Assessment 395
Questions 396
Exercises 397
Problems 400
Cases 412
11 Standard Costs and Variance Analysis 414
Standard Costs 416
A General Approach to Variance Analysis 418
Direct Labor Variances 421
Overhead Variances 422
Test Your Knowledge: Comprehensive Example 426
Investigation of Standard Cost Variances 429
Responsibility Accounting and Variances 432
Summary of Learning Objectives 432
Appendix Recording Standard Costs in Accounts 433
Review Problems 435
Key Terms 438
Self-Assessment 438
Questions 438
Exercises 439
Problems 443
Cases 449
12 Decentralization and Performance Evaluation 450
Why Firms Decentralize_452
Why Companies Evaluate the Performance of Subunits and Subunit Managers 454
Cost Centers, Profit Centers, and Investment Centers 455
Evaluating Investment Centers with ROI 457
Evaluation Using Economic Value Added (EVA ) 462
Using a Balanced Scorecard to Evaluate Performance 468
Developing a Strategy Map for a Balanced Scorecard 471
Keys to a Successful Balanced Scorecard: Targets, Initiatives, Responsibility, Funding, Top Management Support 472
Summary of Learning Objectives 473
Appendix Transfer Pricing 474
Market Price As the Transfer Price 474
Market Price and Opportunity Cost 475
Variable Cost as the Transfer Price 476
Full Cost Plus Profit as the Transfer Price 477
Negotiated Transfer Prices 478
Transfer Pricing and Income Taxes in An International Context 478
Review Problems 478
Key Terms 483
Self-Assessment 483
Questions 484
Exercises 484
Problems 487
Cases 493
13 Statement of Cash Flows 496
Need for a Statement of Cash Flows 498
Types of Business Activities and the Classification of Cash Flows 498
The Statement of Cash Flows Prepared Using the Direct Method 500
Preparing the Statement of Cash Flows Using the Indirect Method 504
Interpreting Information in the Statement of Cash Flows: The Situation At Ravira Restaurant Supply 509
Summary of Learning Objectives 510
Review Problems 511
Key Terms 513
Self-Assessment 513
Questions 514
Exercises 515
Problems 519
Cases 529
14 Analyzing Financial Statements: A Managerial Perspective 530
Why managers analyze Financial statements 532
Horizontal and Vertical Analyses 533
Earnings Management and the Need to Compare Earnings and Cash-Flow Information 537
Other Sources of Information On Financial Performance 538
Ratio Analysis 540
A Managerial Perspective on the Analysis of HGW’s Financial Statements 544
Summary of Analyses 546
Summary of Learning Objectives 547
Review Problems 548
Key Terms 550
Self-Assessment 550
Questions 551
Exercises 552
Problems 557
Cases 567
What is included with this book?
The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.
The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.
Please wait while the item is added to your bag...
