The emphasis of MANAGERIAL ACCOUNTING, 6e is on teaching students to use accounting information to best manage an organization. In a practice Hilton pioneered in the first edition, each chapter is written around a realistic business or focus company that guides the reader through the topics of that chapter. Known for balanced examples of Service, Retail, Nonprofit and Manufacturing companies, Hilton offers a clear, engaging writing style that has been praised by instructors and students alike. As in previous editions, there is significant coverage of contemporary topics such as activity-based costing, target costing, the value chain, customer profitability analysis, and throughput costing while also including traditional topics such as job-order costing, budgeting and performance evaluation.
Key features
The End of Chapter material has been dramatically changed and/or updated with almost all new variables in the EOC problems. This will aid student understanding and give instructors more options in assigning problem material.
14 of the 18 chapters now include much-praised ?Focus on Ethics? segments, which pose ethical dilemmas or discuss ethical issues and then ask the student for his or her opinion about the issue. Some of these are based on issues reported in the press; others are based on well-established anecdotal evidence.
New coverage of environmental cost management - a hot, new topic in the field.
New and updated Managerial Accounting Practice pedagogical boxes that expose students to real world experiences of managerial accounting in action.
New and updated Current Issues in Managerial Accounting research questions that will help to develop the students research and analysis skills.
In response to reviewer feedback Hilton now has expanded coverage of the Balanced Scorecard. Based on reviewer feedback, the author has added more coverage in chapters 1 & 10.
Chapter 16 now covers capital budgeting, and is formally divided into three modular sections to help instructors tailor the coverage to their own course: Section I: Discounted Cash Flow Analysis, Section II: Income Taxes and Capital Budgeting, Section III: Alternative Methods for Making Investment Decisions.
Select challenging topics found in each chapter are more fully explored and illustrated by the Topic Tackler software tutorial. Selected topics are highlighted in the text with a logo. Topic Tackler provides a step-by-step sequence of video, PowerPoint slides, interactive practice exercises and self tests to develop difficult text topics. The tutorial is on the Student CD.
McGraw-Hill's HOMEWORK MANAGER is an online tool that enables students to work text specific problems. The system provides instant grading and detailed feedback to the student. Homework Manager is armed with algorithmic capabilities that can create multiple versions of the same problem type. For the Instructor, Homework Manager is a robust course administration tool with an online gradebook.
?Management Accountants: In Their Own Words?- This feature incorporates actual quotes from practicing managerial accountants. This serves as a friendly, informal teaching device designed to show students how the field is changing and highlight the accountant's role in companies? cross-functional management teams.
Enhanced ?Proactive? Managerial Focus- In Chapter One,which Hilton redefines the role of the managerial accountant as an important strategic partner in an organization's management team.
Focus Companies- One of the hallmark features of Hilton's ?Managerial Accounting? is its pioneering of the focus company approach. By using focus companies to illustrate concepts, students immediately see the importance of the material and become excited about the content. Each chapter is written around a realistic business that introduces the reader to the topics of that chapter. This feature conveys the importance of managerial accounting and stimulates students? interest (The one exception is Disney, a real company, in chapter one). Each chapter is written as a self-contained unit to allow instructors maximum flexibility in topic sequencing.
Student Success with Topic Tackler CD-ROM- This new, text-specific CD-ROM, free with every new copy of the text, helps students achieve higher results (success) in the classroom and works in tandem with the end-of-chapter material. The student success CD contains McGraw-Hill/Irwin's Topic Tackler. This complete tutorial provides students with help on two key topics for every chapter. Included for each concept are video clips, PowerPoint slide shows, interactive exercises, self-test quizzing, and hot links to the Internet.Also included are supplemental Adobe Acrobat (.pdf) chapters, Process Costing: The First-in, First-out Method and The Statement of Cash Flows and Financial Statement Analysis
The 6th edition continues to contain very contemporary topical coverage. There is an even presentation of contemporary topics (activity-based costing: Ch. 5, activity-based management: Ch. 6, Target Costing, Kaizen Costing, the Value Chain, etc) and traditional topics (job-order costing, cost estimation, cost-volume-profit analysis, budgeting, etc).
The balanced presentation of Service, Retail, Nonprofit, and Manufacturing examples will remain. Of the focus companies used, 11 are set in the manufacturing sector, 7 involve service industry firms, 3 are retail companies, and 3 involve nonprofit or governmental settings. Four of these companies are dot.com enterprises. Front Endsheets list all the focus companies. There are also URLs for the real companies used in the chapters listed on back endsheets.
E-Commerce- Up-to-date coverage of the fast-paced internet industry and what role accountants and accounting information play in ?dot-com? businesses. There are examples of e-commerce throughout and four of the chapter-long focus companies are e-commerce businesses, which illustrate concepts such as mass-customization production, minimal inventory, direct-selling and order-taking via the internet.
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Table of contents
Chapter 1 The Changing Role of Managerial Accounting in a Dynamic Business Environment
Chapter 2 Basic Cost Management Concepts and Accounting for Mass Customization Operations
Chapter 3 Product Costing and Cost Accumulation in a Batch Production Environment
Chapter 3 Appendix Activity-Based Costing: An Introduction
Chapter 4 Process Costing and Hybrid Product-Costing Systems
Chapter 4 Appendix Process Costing in Sequential Production Departments
Chapter 5 Activity-Based Costing and Cost Management Systems
Chapter 6 Activity-Based Management and Todays Advanced Manufacturing Environment
Chapter 7 Activity Analysis, Cost Behavior, and Cost Estimation
Chapter 7 Appendix Finding the Least-Squares Regression Estimates
Chapter 8 Cost-Volume-Profit Analysis
Chapter 8 Appendix Effect of Income Taxes
Chapter 9 Profit Planning, Activity-Based Budgeting, and e-Budgeting
Chapter 9 Appendix Inventory Management
Chapter 10 Standard Costing, Operational Performance Measures and the Balanced Scorecard
Chapter 10 Appendix Use of Standard Costs for Product Costing
Chapter 11 Flexible Budgeting and the Management of Overhead and Support Activity Costs
Chapter 11 Appendix A Standard Costs and Product Costing
Chapter 11 Appendix B Sales Variances
Chapter 12 Responsibility Accounting, Quality Control and Environmental Cost Management
Chapter 13 Investment Centers and Transfer Pricing
Chapter 14 Decision Making: Relevant Costs and Benefits
Chapter 14 Appendix Linear Programming
Chapter 15 Target Costing and Cost Analysis for Pricing Decisions
Chapter 16 Capital Expenditure Decisions
Chapter 16 Appendix A Future Value and Present Value Tables
Chapter 16 Appendix B Impact of Inflation
Chapter 17 Absorption, Variable and Throughput Costing
Chapter 17 Appendix Effect of the Volume Variance under Absorption and Variable Costing
Chapter 18 Allocation of Support Activity Costs and Joint Costs
Chapter 18 Appendix Reciprocal-Services Method
Appendix I Compound Interest and the Concept of Present Value
Appendix II References for Management Accountants: In Their Own Words
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