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1.Introduction to Managerial Accounting

Managerial Accounting

Manufacturing Operations

Sustainability and Accounting

Financial Statements for a Manufacturing Business

Analysis for Decision Making

2. Job Order Costing

Cost Accounting Systems Overview

Job Order Cost Systems for Manufacturing Businesses

Job Order Cost Systems for Service Businesses

Analysis for Decision Making

3. Process Cost Systems

Accounting for Process Manufacturers

Cost of Production Report

Journal Entries for a Process Cost System

Using the Cost of Production Report

Lean Manufacturing

Analysis for Decision Making

Appendix Average Cost Method

4. Activity-Based Costing

Product Costing Allocation Methods

Single Plantwide Factory Overhead Rate Method

Multiple Production Department Factory Overhead Rate Method

Activity-Based Costing Method

Activity-Based Costing for Selling and Administrative Expenses

Activity-Based Costing in Service Businesses

Analysis for Decision Making

5. Cost-Volume-Profit Analysis

Cost Behavior

Cost-Volume-Profit Relationships

Mathematical Approach to Cost-Volume-Profit Analysis

Graphic Approach to Cost-Volume-Profit Analysis

Special Cost-Volume-Profit Relationships

Analysis for Decision Making

6. Variable Costing for Management Analysis

Income from Operations: Absorption and Variable Costing

Analyzing Income Using Absorption and Variable Costing

Using Absorption and Variable Costing

Analyzing Market Segments

Contribution Margin Analysis

Variable Costing for Service Businesses

Analysis for Decision Making

7. Budgeting

Nature and Objectives of Budgeting

Budgeting Systems

Master Budget

Operating Budgets

Financial Budgets

Analysis for Decision Making

8. Evaluating Variances from Standard Costs

Standards

Budgetary Performance Evaluation

Direct Materials and Direct Labor Variances

Factory Overhead Variances

Recording and Reporting Variances from Standards

Nonfinancial Performance Measures

Analysis for Decision Making

9. Evaluating Decentralized Operations

Centralized and Decentralized Operations

Responsibility Accounting for Cost Centers

Responsibility Accounting for Profit Centers

Responsibility Accounting for Investment Centers

Transfer Pricing

Analysis for Decision Making

10. Differential Analysis and Product Pricing

Differential Analysis

Setting Normal Product Selling Prices

Production Bottlenecks

Analysis for Decision Making

Appendix Total and Variable Cost Methods to Setting Normal Price

11. Capital Investment Analysis

Nature of Capital Investment Analysis

Methods Not Using Present Values

Methods Using Present Values

Factors That Complicate Capital Investment Analysis

Capital Rationing

Analysis for Decision Making

12. Lean Manufacturing and Activity Analysis

Lean Principles

Lean Accounting

Activity Analysis

Analysis for Decision Making

13. Statement of Cash Flows

Reporting Cash Flows

Cash Flows from Operating Activities—The Indirect Method

Cash Flows from Investing Activities

Cash Flows from Financing Activities

Analysis for Decision Making

Appendix 1 Spreadsheet (Work Sheet) for Statement of Cash Flows—The Indirect Method

Appendix 2 Preparing the Statement of Cash Flows—The Direct Method

14. Financial Statement Analysis

Analyzing and Interpreting Financial Statements

Analytical Methods

Analyzing Liquidity

Analyzing Solvency

Profitability

Corporate Annual Reports

Analysis for Decision Making

Appendix 1 Unusual Items on the Income Statement

Appendix 2 Fair Value and Comprehensive Income

Appendix A: Interest Tables

Appendix B: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2015

Glossary

Index

Carl Warren, University of Georgia, Athens

Dr. Carl S. Warren is Professor Emeritus of Accounting at the University of Georgia, Athens. Dr. Warren has taught classes at the University of Georgia, University of Iowa, Michigan State University and University of Chicago. He has focused his teaching efforts on principles of accounting and auditing. Dr. Warren received his Ph.D. from Michigan State University and his B.B.A. and M.A. from the University of Iowa. During his career, Dr. Warren published numerous articles in professional journals, including The Accounting Review, Journal of Accounting Research, Journal of Accountancy, The CPA Journal and Auditing: A Journal of Practice and Theory. Dr. Warren has served on numerous committees of the American Accounting Association, the American Institute of Certified Public Accountants and the Institute of Internal Auditors. He also has consulted with numerous companies and public accounting firms. His outside interests include handball, golf, skiing, backpacking and fly-fishing.

James M. Reeve, University of Tennessee

Dr. James M. Reeve is Professor Emeritus of Accounting and Information Management at the University of Tennessee. Dr. Reeve taught full-time as part of the accounting faculty for twenty-five years after graduating with his PhD from Oklahoma State University. He presently teaches part-time at UT. His teaching efforts focused on Senior Executive MBA programs. His research interests are varied and include work in managerial accounting, supply chain management, lean manufacturing, and information management. He has published more than forty articles in academic and professional journals, including Journal of Cost Management, Journal of Management Accounting Research, Accounting Review, Management Accounting Quarterly, Supply Chain Management Review, and Accounting Horizons. He has consulted or provided training around the world for a variety of organizations, including Boeing, Procter & Gamble, Norfolk Southern, Hershey Foods, Coca-Cola, and Sony. When not writing books, Dr. Reeve plays golf and is involved in faith-based activities.

Jonathan Duchac, Wake Forest University

Dr. Jonathan Duchac is the Wayne Calloway Professor of Accounting and Acting Associate Dean of Accounting Programs at Wake Forest University. He earned his PhD in accounting from the University of Georgia and currently teaches introductory and advanced courses in financial accounting. Dr. Duchac has received a number of awards during his career, including the Wake Forest University Outstanding Graduate Professor Award, the T.B. Rose award for Instructional Innovation, and the University of Georgia Outstanding Teaching Assistant Award. In addition to his teaching responsibilities, Dr. Duchac has served as Accounting Advisor to Merrill Lynch Equity Research, where he worked with research analysts in reviewing and evaluating the financial reporting practices of public companies. He has testified before the U.S. House of Representatives, the Financial Accounting Standards Board, and the Securities and Exchange Commission and has worked with a number of major public companies on financial reporting and accounting policy issues. In addition to his professional interests, Dr. Duchac is an avid mountain biker and snow skier.