Managerial Accounting 5th Edition

Preface

This book is intended to drive home the fundamental ideas of managerial accounting and motivate students to actually want to study the subject. As you will see, the text has a number of unique features that help accomplish these goals. Based on my teaching experience and from what we have heard from professors using the previous editions, we believe students and professors want a textbook that:

• Recognizes that most students will become managers, not accountants
• Focuses attention on decision making
• Stresses the fact that “You Get What You Measure”
• Motivates students to learn managerial accounting by connecting concepts and techniques to the real world
• Recognizes the growing importance of service businesses
• Is clear, concise (can be covered in one semester), and current
• Provides students with ample opportunities to test their knowledge.

Here's how the fifth edition of Managerial Accounting reflects these desires.

Recognizes that most students will become managers, not accountants. Most students of introductory managerial accounting will pursue careers as managers, not accountants. Future managers most likely will not need to know the FIFO approach to process costing or how to calculate four overhead variances—so these and other less essential topics are not covered.

Focuses more attention on decision making. Instructors want their students to be able to solve the types of problems that real managers face. This requires that more emphasis be placed on decision making skills. ...