Management Accounting, 6th Edition
Will Seal, Carsten Rohde, Ray H. Garrison, Eric W. Noreen
ISBN: 9780077185534
Management Accounting is a market-leading textbook that offers comprehensive coverage of issues related to managing business accounts, enabling students to utilize both financial and non-financial data to paint a picture of the organization they are working in. The book provides an introduction to cost and management accounting, understanding information for decision making, planning and controlling budgets and reporting, and understanding performance management in a strategic context.
The new sixth edition has been adapted for management accounting courses across the UK, Europe and South Africa by Emeritus Professor Will Seal (Loughborough University) and Professor Carsten Rohde (Copenhagen Business School). It offers comprehensive coverage as well as a balance between the technical and conceptual approaches to management accounting. Retaining its student friendly writing style and practical approach, it is the ideal text for students studying management accounting, from introductory through to advanced levels.
What's new
Real world examples
Focus on Practice: These mini-examples accompanied by an exercise illustrate precisely how management accounting theory affects companies, using topical examples of management accounting in well-known companies and industry sectors. Management Accounting in Action: These dialogues follow different management accounting issues through chapters to demonstrate them in practice in the real world.
End of Chapter Assessment Material
Each chapter has a wealth of assessment material, ordered and highlighted by level of difficulty, and designed to make learning and self-testing easy and fun. Students will find the following features in most chapters: review problems, review solutions, applying Excel exercises, questions, group exercises, and more.
Online resources to support you and your students
You will find solutions and other teaching resources ensuring the book is as easy to use as possible. Students can access content including quizzes and practice exercises. New to Connect are case studies with associated case analysis questions specifically tailored for courses in the UK and Europe as well as brand new problems and cases for the South African market. Read more about Connect below.
Part 1: An introduction to management and cost accounting: cost terms, systems design and cost behaviour
1. Management accounting and the business environment
2. An introduction to cost terms, concepts and classifications
3. Cost behaviour: analysis and use
4. Job-order and service department costing
5. Process costing
Part 2: Information for decision making
6. Cost-volume-profit relationships
7. Profit reporting under variable costing and absorption costing
8. Performance measurement and reporting on segments
9. Activity-based costing
10. Relevant costs for decision making
Part 3: Planning and control
11. Profit planning and the role of budgeting
12. Standard costs and variance analysis
13. Flexible budgets and performance reporting
14. Capital investment decisions
15. Pricing and intra-company transfers
Part 4: Value metrics and performance management in a strategic context
16. Strategic management accounting and the balanced scorecard
17. Management control and corporate governance
18. Business process management: towards the lean operation
19. Strategic perspectives on cost management
- IFRS updated throughout
- Brand new Concepts in Context at the start of the chapters. These introduce the theme and topics that are covered in the chapter.
- Brand new and updated Focus on Practice boxes throughout the book. These provide real work insights into topics covered in the chapter.
- Brand new end of chapter problems and cases throughout the book.
- Updated references and literature throughout.
- New and updated existing tables and figures so that they are current and relevant for the new edition.
- Chapters 6 and 7 have changed order.
- Chapter 14 has been moved and is now a new Chapter 8 - to tie together the chapters on different profitability measurement models in the form of Contribution Margin, Absorption Costing and Activity Based Costing.
- Chapter 5 the section on standard costing has been extended with the inclusion of different types of losses.
- Chapter 9 on activity based costing has been strengthened and the section on time-driven activity based costing has been extended.
- Chapter 11 on profit planning and the role of budgeting has been extended by a new introduction that sets budgets and budgeting in a historical context.
- Chapter 12 and Chapter 13 on standard cost control and flexible budgeting has been updated and tied better together.
- Chapter 14 on capital investment decisions has been extended by also focusing more on the pay back method.
- Chapter 15 on pricing and intra-company transfers has been updated.
- Chapter 16 on strategic management accounting and the balanced scorecard has been simplified and tied better to practice.
- Chapter 17 on management control and corporate governance has been updated and a recent management control framework has been added.
- Chapter 18 the focus on the subject of business process management towards lean operation has been strengthened by updating and adding new Concept in Context and Focus on Practice boxes.
Click here to view a sample chapter
About the authors
Will Seal
Will Seal is Emeritus Professor of Management Accounting at Loughborough University having previously held Chairs at the Universities of Essex, Birmingham and Loughborough. His research interests include accounting for hotels and hospitality, supply chains and relational contracting; management accounting in local government; management control in shared service centres; management control and corporate governance.
Ray H. Garrison
Ray H. Garrison is Emeritus Professor of Accounting at Brigham Young University, Provo, Utah.
Carsten Rohde
Carsten Rohde is Professor of Cost and Management Accounting at Copenhagen Business School in Denmark. His interest concerns both conventional and strategic cost and management accounting. His research includes accounting information systems, budgeting and beyond, cost accounting, management control systems, profitability measurement and transfer pricing.
Eric W. Noreen
Eric W. Noreen is Emeritus Professor of Accounting at the University of Washington and was visiting Price Waterhouse Professor of Management Information & Control at INSEAD, France.
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Connect with SmartBook
Connect is an online platform integrating ready-made course content with assessments and tools.
Using the most established adaptive learning technology in the market, Connect provides each student with a tailored learning journey enabling them to learn at their own pace and in their own way.
Connect's integrated SmartBook tool maximises learning by helping students study more efficiently, highlighting where in the chapter to focus, asking review questions, and pointing them to additional resources until they understand the content.
Calculation questions
Test students’ mathematical understanding, allowing them additional practice and further opportunity to develop their problem solving skills. The questions are auto-graded so you can spend more time teaching. Exercises are presented in General Ledger format for the first time, challenging students to approach the problems as they would in a real accounting scenario.
Algorithmic problem
sets Provide repeated opportunities for students to practise and master concepts with multiple versions of each problem. Or use the algorithmic problems in class testing to provide each student with a different version than that seen by their peers.
Case studies
Case studies with associated analysis questions provide a scenario to aid understanding of theory and concepts and to practise applying them. Also available are cases specifically for the South African market.
Pre-built assignments
Assign all of the autogradable end of chapter material as a ready-made assignment with the simple click of a button.
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