About the book Use the most current information to prepare students
for their field * Emphasis on Global Issues reflect today's
increasingly global business environment, including: * The
importance of joint cost allocation in creating a trade war between
poultry farms in South Africa and the United States (Chapter 16). *
The text's examples of management accounting applications in
companies are drawn from international settings. * Focus on
merchandising and service sectors (versus traditional manufacturing
settings)highlight the shifts in the US and world economies,
including: * Several Concepts in Action boxes focus on the
merchandising and service sectors, including achieving cost
leadership at Trader Joes, using activity-based costing to reduce
the costs of health care delivery at the Mayo Clinic (Chapter 5),
reducing fixed costs at Twitter (Chapter 2), and analyzing
operating income performance at Best Buy (Chapter 12) and web-based
budgeting at 24 Hour Fitness. * Emphasis on sustainability as one
of the critical managerial challenges of the coming decades,
including: * Material that stress themes of recognizing and
accounting for environmental costs, energy independence and the
smart grid, setting stretch targets to motivate greater carbon
reductions, using cost analysis, carbon tax, and cap-and-trade
auctions to reduce environmental footprints, and constructing
"green" homes in a cost-effective manner. * More focus on the role
of accounting concepts and systems in fostering and supporting
innovation and entrepreneurial activities in firms including: * The
challenges posed by recognizing R&D costs as period expenses
even though the benefits of innovation accrue in later periods. *
How companies budget for innovation expenses and develop measures
to monitor success of the innovation efforts delinked from
operational performance in the current period (Chapter 6). * The
importance of nonfinancial measures when making decisions about
innovation (Chapter 11). * The concept that innovation starts with
understanding customer needs (Chapter 13). * Process innovations
for improving quality (Chapter 19). * Cutting-edge topics are
covered, including: * Material around recent trends in big data and
data analytics in predicting costs and when making demand
forecasts. Provide a solid presentation of accounting hallmarks
with a great emphasis on strategy * Strategy maps are presented as
a useful tool to implement the balanced scorecard and a simplified
presentation of how income statements of companies can be analyzed
from the strategic perspective of product differentiation or cost
leadership. A new section helps students evaluate strategy maps
such as the strength of links, differentiators, focal points and
trigger points. * Try It examples are simple and focus on key ideas
or concepts. They are located after a particular concept or
calculation, and invite students to practice what they have just
learned. * Becker Multiple Choice Questions in the assignment
material probe students' knowledge of the chapter material and
their ability to think critically about key concepts. * Opening
Vignettes. Each chapter opens with a vignette on a real company
situation. The vignettes get students engaged in a business
situation, or dilemma, illustrating why and how the concepts in the
chapter are relevant in business. New examples on Quiksilver,
General Motors, Boeing, Delta, Honda, and Viacom have been
incorporated. * Concepts in Action Boxes. Found in every chapter,
these boxes cover real-world cost accounting issues across a
variety of industries including automobile racing, defense
contracting, entertainment, manufacturing, and retailing. New
examples include Subway, Chipotle, H&M, Amazon, Under Armour,
and Netflix.
General
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