Designed for use in introductory or graduate-level managerial accounting courses, this text applies an objective-based approach to managerial accounting topics. Unlike traditional cost-accounting texts, Management Accounting emphasizes the critical role that information plays in decision making, strategy execution, and overall enhancement of a firm's value.

Through problem-based learning and the business planning model (BPM), Management Accounting develops in students those competencies expected of today's business professionals. This innovative pedagogical approach stresses the understanding and application of the basic business process; risk assessment and its relation to business strategy; critical thinking, reasoning, and analysis; oral and written communication skills; and techniques for team building.

• Each chapter includes mini-cases, exercises, and problems built around the challenges faced by managers today. An integrated text-long continuing example of a fictitious service business, C&F Enterprises, simulates the actual strategic planning process, as well as resource management and performance measurement activities commonly found in business practice.
• Business Beacons boxed features provide a bridge from chapter concepts to contemporary business examples by highlighting actual companies and linking managerial accounting topics to real-world examples.
• Each chapter concludes with a Business Planning Application, an optional module that allows students to engage in a semester-long business planning simulation.

1. Business Strategy and Management Accounting

C&F Enterprises, Inc.: Making a Dream Reality
What, Exactly, Is a Business?
Stakeholders and Their Interests
Business Strategy: The Link to Profitability
Planning for the Future
Successful Strategic Planning
Net Gains: Strategic Planning Resources on the Web
Mini Case: BestSellers Bookstore
Business Planning Application: Using Strategy in Business Planning

2. Business Processes in the Twenty-First Century

Structural Forces
Creating Value for the Customer
The Value Chain
Managing the Value Chain
Net Gains: Market Analysis Resources on the Web
Mini Case: Group Consulting Exercise
Business Planning Application: Conducting a Market Analysis

3. Evaluating Financial Performance

Financial Statement Basics
Projected or Pro Forma Financial Statements
Ratio Analysis
Summary of Financial Measures
Net Gains: Financial Analysis Resources on the Web
Mini Case: Transaction Processing Review
Business Planning Application: Researching Financial Performance

4. Business Processes and Risks

Linking Business Processes and Financial Results
Converting Resources into Results
Business Risk
Assessing and Managing Business Risk
Net Gains: Risk Assessment Resources on the Web
Mini Case 1: Keystone Academy (Part 1)
Mini Case 2: Entrepreneur Risk Assessment Quiz
Business Planning Application: Risk Assessment and Management Strategies

5. Planning Profitable Operations

C&F Enterprises: Reacting to an Unforeseen Environmental Shock
Understanding Cost Behavior
Cost-Volume-Profit (CVP) Analysis
Performing Breakeven Analysis
Net Gains: Breakeven Analysis Resources on the Web
Mini Case 1: Keystone Academy (Part 2)
Mini Case 2: Casino Express Bus Lines
Business Planning Application: Breakeven Analysis and Financial Forecasting

6. Forecasting Tools and Techniques

Sales Forecasting
Forecasting Costs
Forecasting Techniques
Qualitative Cost Considerations
Net Gains: Forecasting Resources on the Web
Mini Case: Top Flight Airlines
Business Planning Applications: Sales Forecasting and Cost Estimation

7. Budgeting Fundamentals

C&F Enterprises, Inc.: Realizing the Need for a Budget
Introduction to Budgeting
Developing Budgets
Net Gains: Budgeting Resources on the Web
Mini Case: Sweet 16 Donut Shop
Business Planning Application: Budgeting Basics

8. Analyzing and Using Budgets

C&F Enterprises, Inc.: Realizing the Need for a Budget
Does the Budget Hold Water?
Sensitivity Analysis Using Flexible Budgeting
C&F Enterprises, Inc.: The Results for 20X2 Are In!
Variance Analysis
Net Gains: Budget Analysis Resources on the Web
Mini Case 1: University Backpacks (Part I)
Mini Case 2: University Backpacks (Part 2)
Business Planning Application: Assessing Budget Credibility

9. Performance Evaluation and Decision Making

Evaluating Performance and Creating Accountability
Using Responsibility Centers to Assess Performance
Cost-Benefit Analysis
The Balanced Scorecard: A Performance Measurement Framework
Net Gains: Performance Measurement Resources on the Web
Mini Case: Make-or-Buy Decision--HuskerHenge Pizza Company
Business Planning Application: Deciding on an E-business Strategy

10. Analyzing Costs at the Customer and Process Level

C&F Enterprises, Inc.: Addressing a Customer's Dissatisfaction with Price
Understanding the Composition of Product and Service Costs
Assigning Overhead to Product and Service Costs
Types of Costing Systems
Net Gains: Activity-Based Costing Resources on the Web
Mini Case 1: Keystone Academy (Part 3)
Mini Case 2: University Backpacks (Part 3)
Business Planning Application: Analyzing Planned Product and Service Costs
Appendix: Preparing and Presenting the Business Plan