Mike Werner and Kumen Jones have crafted an exciting text designed to meet the needs of those faculty and students who are eager to embrace a user perspective in first-year accounting.
Introduction to Management Accounting: A User Perspective, Second Edition, maintains the authors' well-received user approach and places a strong emphasis on decision making. Other unique features include:
- NEW—Separate Chapter on Cost Allocation and ABC (Chapter 4).
- User-Driven Approach to Cost Behavior (Chapters 5 and 6). NEW—Section on using Microsoft Excel for charting and analyzing mixed costs (Chapter 5).
- NEW—Section in the capital budgeting chapter (Chapter 8) on using financial calculators for future value and present value calculations.
- Distinctive Presentation of the Operating Budget (Chapter 9). Part I describes the importance and uses of the operating budget and compares/contrasts various approaches to preparation. Part II shows step-by-step preparation of the budgets that comprise the operating budget and details the use of the operating budget in the overall management process.
- Unique Chapter on Evaluating Performance (Chapter 11) discusses evaluation methods; centralized and decentralized management styles; business segments; return on investment and residual income; the balanced scorecard and nonfinancial measures, such as quality, customer satisfaction, employee morale, employee safety, efficiency, and just-in-time philosophy.