Managerial Accounting for Dummies

The easy way to master a managerial accounting course Are you enrolled in a managerial accounting class and finding yourself struggling? Fear not! Managerial Accounting For Dummies is the go-to study guide to help you easily master the concepts of this challenging course. You'll discover the basic concepts, terminology, and methods to identify, measure, analyze, interpret, and communicate information in the pursuit of an organization's goals. Tracking to a typical managerial accounting course and packed with easy-to-understand explanations and real-life examples, Managerial Accounting For Dummies explores cost behavior, cost analysis, profit planning and control measures, accounting for decentralized operations, capital budgeting decisions, ethical challenges in managerial accounting, and much more. Covers the key concepts and tools needed to communicate accounting information for managerial decision-making within an organization Plain-English explanations of managerial accounting terminology and methods Tracks to a typical college-level managerial accounting course Managerial Accounting For Dummies makes it fast and easy to grasp the concepts needed to score your highest in a managerial accounting course.

Mark P. Holtzman, PhD, CPA, is Chair of the Department of Accounting and Taxation at Seton Hall University. He has taught accounting at the college level for 17 years and runs the Accountinator website at www.accountinator.com, which gives practical accounting advice to entrepreneurs.

Introduction 1

Part I: Introducing Managerial Accounting 7

Chapter 1: The Role of Managerial Accounting 9

Chapter 2: Using Managerial Accounting in Your Business 29

Part II: Understanding and Managing Costs 43

Chapter 3: Classifying Costs 45

Chapter 4: Figuring Cost of Goods Manufactured and Sold 57

Chapter 5: Teaching Costs to Behave: Variable and Fixed Costs 69

Chapter 6: Allocating Overhead 89

Chapter 7: Job Order Costing: Having It Your Way 105

Chapter 8: Process Costing: Get In Line 121

Part III: Using Costing Techniques for Decision-Making 145

Chapter 9: Straight to the Bottom Line: Examining Contribution Margin 147

Chapter 10: Capital Budgeting: Should You Buy That? 165

Chapter 11: Reality Check: Making and Selling More than One Product 179

Chapter 12: The Price Is Right: Knowing How Much to Charge 191

Chapter 13: Spreading the Wealth with Transfer Prices 203

Part IV: Planning and Budgeting 217

Chapter 14: Master Budgets: Planning for the Future 219

Chapter 15: Flexing Your Budget: When Plans Change 237

Part V: Using Managerial Accounting for Evaluation and Control 245

Chapter 16: Responsibility Accounting 247

Chapter 17: Variance Analysis: To Tell the Truth 259

Chapter 18: The Balanced Scorecard: Reviewing Your Business’s Report Card 279

Chapter 19: Using the Theory of Constraints to Squeeze Out of a Tight Spot 293

Part VI: The Part of Tens 301

Chapter 20: Ten Key Managerial Accounting Formulas 303

Chapter 21: Ten Careers in Managerial Accounting 311

Chapter 22: Ten Legends of Managerial Accounting 315

Index 319

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Managerial Accounting for Dummies

Summary

Author Biography

Table of Contents

Supplemental Materials