By Ronald W. Hilton, David E. Platt
The emphasis of Managerial Accounting, tenth edition is on instructing scholars to take advantage of accounting info to top deal with a firm. In a convention Hilton pioneered within the first version, each one bankruptcy is written round a practical company or focus company that courses the reader in the course of the subject matters of that bankruptcy. recognized for balanced examples of provider, Retail, Nonprofit and production businesses, Hilton/Platt bargains a transparent, enticing writing sort that has been praised by way of teachers and scholars alike. As in earlier variants, there's major assurance of up to date subject matters corresponding to activity-based costing, aim costing, the worth chain, purchaser profitability research, and throughput costing whereas additionally together with conventional subject matters comparable to job-order costing, budgeting and function assessment.
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Extra resources for Managerial Accounting: Creating Value in a Dynamic Business Environment, 10th Edition
Panel B of Exhibit 1–4 depicts several plausible cross-functional teams formed to address a variety of hypothetical business problems at The Walt Disney Company. Notice that each of these teams pulls together individuals from a variety of specialties, such as marketing, operations, general management, customer relations, and the general counsel’s office (legal issues). Given Disney’s overall business strategy, creative talent is almost always present in these cross-functional teams; moreover, managerial accountants play an important role as well.
2. 3. 4. 5. Providing information for decision making and planning. Assisting managers in directing and controlling operational activities. Motivating managers and other employees toward the organization’s goals. Measuring the performance of activities, subunits, managers, and other employees within the organization. Assessing the organization’s competitive position, and working with other managers to ensure the organization’s long-run competitiveness in its industry. Although financial data make up a large part of the inputs and outputs of a managerial accounting system, there is a strong trend toward the presentation of nonfinancial data as well.
Managerial accounting provides tools and perspectives that help managers accomplish this, and for that reason it is important that every business student should study it. Managerial accountants are specialists in using the tools of managerial accounting to help the organization and its managers run the operation effectively. Their knowledge builds from the material in this textbook to include advanced tools as well as knowledge and techniques specific to a company and its industry. The role of managerial accounting is very different now than it was years ago.