Cornerstones of managerial accounting PDF
Preview Cornerstones of managerial accounting
THIRD CANADIAN EDITION MOWEN THIRD CANADIAN EDITION HANSEN HEITGER McCONOMY WITT PITTMAN CORNERSTONES CORNERSTONES of MANAGERIAL of MANAGERIAL o C f ACCOUNTING O ACCOUNTING M R A N N E A R G S E T R O I A N L E S A C C O U N CengageNOWv2™ includes access to interactive learning resources to help you get the most out of your course. Interactive learning resources include tutorials, videos, animations, games, other multimedia T tools, and in most cases an integrated ebook. Visit NELSONbrain.com to start using CengageNOWv2. I Enter the access code included with your text or buy instant access at NELSONbrain.com. N G THIRD CANADIAN NELSONbrain.com offers you a wide range of print textbooks, ebooks, digital homework, multimedia EDITION content, and study tools. We make it easy, convenient, and affordable for you to purchase and access your course materials. Visit NELSONbrain.com for more information! nelson.com MOWEN HANSEN HEITGER McCONOMY WITT PITTMAN Copyright 2018 Nelson Education Ltd. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Nelson Education reserves the right to remove additional content at any time if subsequent rights restrictions require it. CHAPTER FOCUS COMPANY KEY CORNERSTONE MANAGERIAL FOCUS 1 Introduction to Managerial Accounting BuyCostumes.com Understanding the Difference between Financial Accounting and Organizational structures Managerial Accounting 2 Basic Managerial Accounting Concepts Motorola Calculating Product Cost in Total and Per Unit Different costs for different purposes 3 Cost Behaviour Zingerman’s Creating and Using a Cost Formula Differentiating between fixed and variable costs 4 Cost–Volume–Profit Analysis: A Managerial Boyne Resorts Solving for the Number of Units to Be Sold (or Sales Revenue) to Earn First stage of feasibility analysis Planning Tool a Target Operating Income 5 Job-Order Costing Creating Dinners Calculating Predetermined Departmental Overhead Rates and Understanding and applying Applying Overhead to Production manufacturing overhead 6 Process Costing BP Preparing a Production Report: Weighted Average Method Costing in a different environment 7 Activity-Based Costing and Management Tim Hortons Calculating Activity-Based Units Costs More precise allocation of costs to products Cold Stone Creamery 8 Absorption and Variable Costing, and Inventory Ontario Securities Commission Explaining the Difference between Absorption and Variable Costing GAAP reporting Management 9 Budgeting, Production, Cash, and Master Budget High Sierra Sport Company Defining and Preparing the Financial Budget, Identifying Its Major Planning and control—at an Components, and Explaining the Interrelationships of Its Various organizational level Components 10 Standard Costing: A Managerial Control Tool Agrium Inc. Describing the Basic Concepts Underlying Variance Analysis, and Planning and control—at a product Explaining When Variances Should Be Investigated level 11 Flexible Budgets and Overhead Analysis The Second City Preparing a Flexible Budget, and Using It for Performance Reporting Performance reporting based on actual activity levels 12 Performance Evaluation and Decentralization T4G Explaining How and Why Firms Choose to Decentralize Decision making and accountability 13 Short-Run Decision Making: Relevant Costing Navistar Applying Relevant Costing and Decision Making Concepts in a Variety Short-run decision making of Business Situations 14 Capital Investment Decisions Hard Rock International Using Net Present Value Analysis and the Profitability Index for Capital Investing in long-term assets Investment Decisions Involving Independent Projects Copyright 2018 Nelson Education Ltd. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Nelson Education reserves the right to remove additional content at any time if subsequent rights restrictions require it. 21237_end02-03_pt001_hires.indd 2 05/10/17 2:43 pm CHAPTER FOCUS COMPANY KEY CORNERSTONE MANAGERIAL FOCUS 1 Introduction to Managerial Accounting BuyCostumes.com Understanding the Difference between Financial Accounting and Organizational structures Managerial Accounting 2 Basic Managerial Accounting Concepts Motorola Calculating Product Cost in Total and Per Unit Different costs for different purposes 3 Cost Behaviour Zingerman’s Creating and Using a Cost Formula Differentiating between fixed and variable costs 4 Cost–Volume–Profit Analysis: A Managerial Boyne Resorts Solving for the Number of Units to Be Sold (or Sales Revenue) to Earn First stage of feasibility analysis Planning Tool a Target Operating Income 5 Job-Order Costing Creating Dinners Calculating Predetermined Departmental Overhead Rates and Understanding and applying Applying Overhead to Production manufacturing overhead 6 Process Costing BP Preparing a Production Report: Weighted Average Method Costing in a different environment 7 Activity-Based Costing and Management Tim Hortons Calculating Activity-Based Units Costs More precise allocation of costs to products Cold Stone Creamery 8 Absorption and Variable Costing, and Inventory Ontario Securities Commission Explaining the Difference between Absorption and Variable Costing GAAP reporting Management 9 Budgeting, Production, Cash, and Master Budget High Sierra Sport Company Defining and Preparing the Financial Budget, Identifying Its Major Planning and control—at an Components, and Explaining the Interrelationships of Its Various organizational level Components 10 Standard Costing: A Managerial Control Tool Agrium Inc. Describing the Basic Concepts Underlying Variance Analysis, and Planning and control—at a product Explaining When Variances Should Be Investigated level 11 Flexible Budgets and Overhead Analysis The Second City Preparing a Flexible Budget, and Using It for Performance Reporting Performance reporting based on actual activity levels 12 Performance Evaluation and Decentralization T4G Explaining How and Why Firms Choose to Decentralize Decision making and accountability 13 Short-Run Decision Making: Relevant Costing Navistar Applying Relevant Costing and Decision Making Concepts in a Variety Short-run decision making of Business Situations 14 Capital Investment Decisions Hard Rock International Using Net Present Value Analysis and the Profitability Index for Capital Investing in long-term assets Investment Decisions Involving Independent Projects Copyright 2018 Nelson Education Ltd. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Nelson Education reserves the right to remove additional content at any time if subsequent rights restrictions require it. 21237_end02-03_pt001_hires.indd 3 05/10/17 2:43 pm Third Canadian EdiTion Cornerstones of MAnAGerIAL ACCountInG Copyright 2018 Nelson Education Ltd. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Nelson Education reserves the right to remove additional content at any time if subsequent rights restrictions require it. 21237_00_FM.indd 1 05/10/17 4:23 pm Cornerstones of MAnAGerIAL ACCountInG Maryanne M. Mowen Oklahoma State University Don R. Hansen Oklahoma State University Dan L. Heitger Miami University David J. McConomy Queen’s University Bradley D. Witt Humber Institute of Technology and Advanced Learning Jeffrey A. Pittman Memorial University of Newfoundland Copyright 2018 Nelson Education Ltd. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Nelson Education reserves the right to remove additional content at any time if subsequent rights restrictions require it. 21237_00_FM.indd 2 05/10/17 4:23 pm Third Canadian EdiTion Cornerstones of MAnAGerIAL ACCountInG Maryanne M. Mowen Oklahoma State University Don R. Hansen Oklahoma State University Dan L. Heitger Miami University David J. McConomy Queen’s University Bradley D. Witt Humber Institute of Technology and Advanced Learning Jeffrey A. Pittman Memorial University of Newfoundland Copyright 2018 Nelson Education Ltd. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Nelson Education reserves the right to remove additional content at any time if subsequent rights restrictions require it. 21237_00_FM.indd 3 05/10/17 4:23 pm This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit nelson.com to search by ISBN#, author, title, or keyword for materials in your areas of interest. Copyright 2018 Nelson Education Ltd. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Nelson Education reserves the right to remove additional content at any time if subsequent rights restrictions require it. Cornerstones of Managerial Accounting, Third Canadian Edition by Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger, David J. McConomy, Bradley D. Witt, and Jeffrey A. Pittman VP, Product Solutions, K–20: Senior Production Project Manager: Higher Education Design PM: Claudine O’Donnell Natalia Denesiuk Harris Pamela Johnston Publisher: Production Service: Interior Design: Anne-Marie Taylor MPS Limited Brian Malloy Executive Marketing Manager: Copy Editor: Cornerstones Icon: Amanda Henry Laurel Sparrow Karpiyon/iStockphoto Technical Reviewer: Proofreader: Cover Design: Ross Meacher Shilbhadra Maity Trinh Truong Content Manager: Indexer: Cover Image: Lisa Peterson Edwin Durbin Mina De La O/Getty Images Photo and Permissions Researcher: Design Director: Compositor: Jessica Freedman Ken Phipps MPS Limited CoPyRIgHT © 2018, 2015 by Nelson All RIgHTS RESERVED. No part of library and Archives Canada Education Ltd. this work covered by the copyright Cataloguing in Publication herein may be reproduced, Adapted from Cornerstones of transcribed, or used in any form Mowen, Maryanne M., author Managerial Accounting, Sixth or by any means—graphic, Edition, by Maryanne M. Mowen, Cornerstones of managerial electronic, or mechanical, including Don R. Hansen, and Dan L. Heitger, accounting / Maryanne M. Mowen, photocopying, recording, taping, published by Cengage Learning. Oklahoma State University, Don Web distribution, or information Copyright © 2016 by Cengage R. Hansen, Oklahoma State storage and retrieval systems— Learning. University, Dan L. Heitger, Miami without the written permission of University, David J. McConomy, Printed and bound in Canada the publisher. Queen’s University, Bradley D. Witt, 1 2 3 4 20 19 18 17 For permission to use material Humber Institute of Technology For more information contact from this text or product, and Advanced Learning, Jeffrey A. Nelson Education Ltd., submit all requests online at Pittman, Memorial University of 1120 Birchmount Road, Toronto, cengage.com/permissions. Newfoundland. — Third Canadian Ontario, M1K 5G4. Or you can visit Further questions about edition. our Internet site at nelson.com permissions can be emailed to Includes bibliographical references [email protected] and index. Cognero and Full-Circle Assessment are registered trademarks of Every effort has been made to Issued in print and electronic Madeira Station LLC. trace ownership of all copyrighted formats. material and to secure permission ISBN 978-0-17-672123-7 (hardcover). from copyright holders. In the event —ISBN 978-0-17-685377-8 (PDF) of any question arising as to the use 1. Managerial accounting— of any material, we will be pleased Textbooks. 2. Textbooks. I. Hansen, to make the necessary corrections in Don R., author II. Heitger, Dan L. future printings. (Dan Lester), author III. McConomy, David J., author IV. Witt, Bradley D., author V. Pittman, Jeffrey A., author VI. Title. HF5657.4.M69 2017 658.15’11 C2017-905994-7 C2017-905995-5 ISBN-13: 978-0-17-672123-7 ISBN-10: 0-17-672123-1 Copyright 2018 Nelson Education Ltd. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Nelson Education reserves the right to remove additional content at any time if subsequent rights restrictions require it. 21237_00_FM.indd 4 05/10/17 4:23 pm This book is dedicated to our students—past, present, and future— who are at the heart of our passion for teaching. Maryanne Mowen, don hansen, and dan heitger This book is dedicated to my wife, Candace, whose love, support, and encouragement have always been there and have helped me to accomplish whatever i have done. david McConomy This book is dedicated to my students, whose energy and drive continue to feed my passion for teaching. Bradley Witt This book is dedicated to my wife, Tracey, and our three children, Jack, Sophie, and rachel, whose love and support have made it all possible. Jeffrey Pittman Copyright 2018 Nelson Education Ltd. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Nelson Education reserves the right to remove additional content at any time if subsequent rights restrictions require it. 21237_00_FM.indd 5 05/10/17 4:23 pm Copyright 2018 Nelson Education Ltd. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Nelson Education reserves the right to remove additional content at any time if subsequent rights restrictions require it. 21237_00_FM.indd 6 05/10/17 4:23 pm
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