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Managerial Accounting, 8th Edition

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Copyright 2023
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Managerial Accounting 8th Edition by Maryanne M. Mowen/Don R. Hansen/Dan L. Heitger

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Overview
Meet the Authors
What's New
Features
Table of Contents
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Overview

Demonstrate how managerial accounting is meaningful and relevant to your students with Mowen/Hansen/Heitger's MANAGERIAL ACCOUNTING: THE CORNERSTONE OF BUSINESS DECISION MAKING, 8E. This book's unique approach and updated content emphasize how managers use accounting today. Brief video clips, the latest examples and topical applications encourage a deeper understanding of managerial accounting and its implications for business. New data analytic discussions, examples and applications, clearly identified by margin icons, give you the flexibility to incorporate this important topic to the degree you desire -- from a high-level overview to a more in-depth focus. Every chapter demonstrates the relevance of data analytics by showing how real companies apply data analytics to that chapter’s topics. New questions, exercises and problems further connect data analytics to managerial accounting. CNOWv2 online resources are also available to support your instruction and student learning.

Meet the Authors

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Maryanne M. Mowen

Dr. Maryanne M. Mowen is associate professor of accounting emerita at Oklahoma State University. She received her Ph.D. from Arizona State University. With degrees in economics and history, she brings a unique interdisciplinary perspective to teaching and writing in both cost accounting and management accounting. Her research interests include management accounting, behavioral decision theory and Sarbanes-Oxley compliance. She also teaches an ethics course about the impact of Sarbanes-Oxley on the accounting profession. Dr. Mowen has published articles in journals such as Decision Science, Journal of Economic Psychology and Journal of Management Accounting Research. She has also served as a consultant to mid-sized and Fortune 100 companies and works with corporate controllers on management accounting issues. She advises entrepreneurs and nonprofit organizations. Outside the classroom, she enjoys hiking, travelling, reading mysteries and solving crossword puzzles.

Don R. Hansen

Dr. Don R. Hansen is professor emeritus at Oklahoma State University. He has an undergraduate degree in mathematics from Brigham Young University. He received his Ph.D. from the University of Arizona. Dr. Hansen has published articles in both accounting and engineering journals, including The Accounting Review, The Journal of Management Accounting Research, Accounting Organizations and Society, Accounting Horizons and IIE Transactions. He has also served on the editorial board of The Accounting Review. His outside interests include family, church activities, reading, movies and watching sports.

Dan L. Heitger

Dr. Dan L. Heitger is the Deloitte Professor of Accounting and co-director of the William Isaac & Michael Oxley Center for Business Leadership at Miami University. He received his Ph.D. from Michigan State University and his undergraduate degree in accounting from Indiana University. He actively works with executives and students to innovate, develop and teach courses in managerial accounting, managerial accounting, performance measurement, business sustainability, risk management, stakeholder management and corporate governance. He co-founded an organization that provides executive education for large international organizations. His interactions with business professionals, through executive education and the center, allow him to bring a current and real-world perspective to his writing. His research has appeared in Harvard Business Review, Behavioral Research in Accounting, Accounting Horizons, Issues in Accounting Education, Journal of Accountancy, Journal of Accounting and Public Policy and Management Accounting Quarterly. His outside interests include hiking with his family in the national park system.

What's New

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UNIQUE PERSPECTIVE EMPHASIZES TODAY'S PREVALENT USE OF DATA ANALYTICS ACROSS ALL BUSINESS DISCIPLINES. Students see how managerial accounting professionals use data analytics to inform key business decisions. This edition provides options for demonstrating the importance and prevalence of data analytics across all areas of managerial accounting. The authors define data analytics broadly and address strategic questions such as what, why and how to measure certain performance aspects. They also focus on interpreting and communicating the impact of data analytics on business decisions.
FLEXIBLE APPROACH ENABLES YOU TO INFUSE DATA ANALYTICS TO THE DEGREE YOU DESIRE. With this edition, you can present a high-level overview of data analytics or a more in-depth focus. Each chapter discusses real applications of data analytics to specific managerial topics. Special margin icons identify data analytics discussions and "Here’s How It’s Used" examples as well as questions, exercises and problems – making it easy for you to choose what material to include. This approach works effectively no matter what your level of data analytic interest or your students' levels of expertise.
BEST-IN-CLASS REAL EXAMPLES HIGHLIGHT MANAGERIAL ACCOUNTING AT WORK WITHIN FAMILIAR ORGANIZATIONS. New, interesting -- and even fun -- examples focus on real companies your students will recognize. These numerous examples show how organizations are effectively applying managerial accounting in business.
NEW CONTENT EMPHASIZES DATA ANALYTICS VISUALIZATION. Various new data analytics applications within this edition help student see how data can be represented pictorially to enhance managerial understanding of data trends.
REVISED AND EXPANDED "MAKING THE CONNECTION" PROBLEMS HIGHLIGHT THE USE OF MANAGERIAL ACCOUNTING CONCEPTS. Three "Making the Connection" comprehensive problems in this edition cover material from two or more chapters. These problems help students better understand the "big picture" as they must apply managerial accounting topics across chapters. Each of these problems also now includes a data analytics component.
REVISED AND UPDATED CHAPTER-OPENING SCENARIOS SHOW MANAGERIAL AT WORK IN REAL ORGANIZATIONS. These captivating opening scenarios immediately engage students and encourage further reading and exploration. The scenarios are updated with the latest developments to highlight how real and familiar companies are effectively using principles of managerial accounting today.
THE LATEST EXCEL-BASED DATA ANALYTICS APPLICATIONS PROVIDE HANDS-ON PRACTICE. Numerous end-of-chapter exercises provide students with important practice in using Excel or similar software programs to work with data analytics. Students learn to use these spreadsheet tools for data analytic applications including data visualization, sensitivity analysis, use of equations and linear regression.

Features

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EXAMPLES AND ACTIVITIES TEACH STUDENTS TO SOLVE MANAGERIAL ACCOUNTING PROBLEMS. Clear, step-by-step examples and selected end-of-chapter activities are carefully linked to enable students to quickly gather the information necessary to solve managerial accounting problems. This approach enables readers to focus on the implications of the decision rather than only the associated calculations.
MASTERY PROBLEMS IN CNOWV2 BUILD STUDENTS’ KEY STRENGTHS AND SKILLS. Proven, scenario-based online exercises in CNOWv2 are designed to reinforce your students’ understanding of important concepts. Students strengthen their analytical skills as they work toward mastering critical concepts.
MANY "EXPERIENCE MANAGERIAL DECISIONS" CHAPTER-OPENING VIGNETTES OFFER ACCOMPANYING ONLINE VIDEOS. At the beginning of each chapter, students observe how familiar companies, such as Costco, Hard Rock Cafe, Cold Stone Creamery, UPS and Apple, use managerial accounting information to make better decisions. The chapter references the featured company throughout to emphasize the importance of managerial accounting concepts in the real world. Corresponding videos from the popular Experience Accounting Video Series in CNOWv2 online resources further support the vignettes.
"ETHICAL DECISIONS" FEATURES PREPARE STUDENTS TO MAKE INFORMED DECISIONS. To succeed in today’s business climate, students must be able to analyze business situations and make thoughtful ethical decisions. The text weaves "Ethical Decisions" features into each chapter to encourage students to develop these essential skills and consider the ethical implications of their actions in every situation.

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WHY Is Managerial Accounting Important?
1. Introduction to Managerial Accounting.
2. Basic Managerial Accounting Concepts.
WHAT Is Managerial Accounting?
3. Cost Behavior, Cost Forecasting, and Segmented Income Statements.
WHERE Does Managerial Accounting Come From?
4. Job-Order Costing and Normal Cost (Overhead Application).
5. Activity-Based Costing and Management
6. Process Costing.
HOW Is Managerial Accounting USED for Decision Making?
7. Cost-Volume-Profit Analysis.
8. Tactical Decision Making and Relevant Costing.
9. Profit Planning and Flexible Budgets.
10. Standard Costing and Variance Analysis.
11. Performance Evaluation and Decentralization.
12. Capital Investment Decisions.
13. Emerging Topics in Managerial Accounting: Sustainability, Quality Cost, Lean Accounting, International Issues, Enterprise Risk Management, The Managerial Accountant in Forensic/Fraud Accounting
14. Statement of Cash Flows.
15. Financial Statement Analysis.