Project Description
Management Accounting, 5th Edition
Eldenburg, Brooks, Vesty, Pawsey
Interactive E-Text: 9781394263530, Print Textbook: 9781394263509
The fifth edition of Management Accounting offers a comprehensive, contemporary, and practical approach to cost and management accounting. Designed for students studying management accounting, this textbook not only covers essential technical concepts but also addresses the evolving challenges of the field, including the integration of Environmental, Social, and Governance (ESG) factors and the use of advanced technologies like data analytics and AI.
Students can access this resource through our low-cost subscription model, Wiley Business Now, which includes supplementary practice resources for further learning. With local support and content tailored to the Australian and New Zealand markets, this text ensures relevance to current practices and standards.
Table of Contents
1.2 Cost and management accounting for decision making
1.3 Management accounting information and the quality of decision making
1.4 Value chain analysis: a framework for management accounting
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Appendix 1A Excel primer
2.2 Variable, fixed and mixed costs
2.3 Cost estimation techniques
2.4 Estimating the cost function
2.5 Regression analysis
2.6 Uses and limitations of cost estimates
Appendix 2A Regression analysis — additional topics
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3.2 Direct and indirect costs
3.3 Process of indirect cost allocation
3.4 A costing framework
3.5 Applying the costing framework in a service entity setting
3.6 Applying the costing framework in a support department setting
3.7 Limitations of cost allocation data
Appendix 3A Single- versus dual-rate allocations
Appendix 3B Using Solver to calculate simultaneous equations for the reciprocal method
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4.2 Breakeven point
4.3 CVP analysis for a single product
4.4 CVP analysis for multiple products
4.5 Assumptions and limitations of CVP analysis
4.6 Margin of safety and degree of operating leverage
Appendix 4A Performing CVP analysis with the use of a spreadsheet
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5.2 Impact of likely actions on profit, assets and cash flow management
5.3 Planning in cost centres
5.4 Contemporary approaches to budgeting
5.5 The behavioural implications of budgeting
5.6 Beyond Budgeting
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6.2 The role of the master budget
6.3 Developing a cash budget
6.4 Budgets as performance benchmarks
6.5 Budgets, incentives and rewards
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7.2 Calculating the inventoriable product cost for customised products
7.3 Allocating manufacturing overhead
7.4 Spoilage, rework and scrap in job costing
7.5 Uses and limitations of job cost information
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8.2 Work in process and equivalent units
8.3 Process costing methods
8.4 Production costs and multiple production departments
8.5 Accounting for spoilage in process costing
8.6 Uses and limitations of process costing information
Appendix 8A Standard costing use in mass production
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9.2 A closer look at absorption costing using normal costing
9.3 Comparison of absorption and variable costing
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10.2 Standard costs
10.3 Variance analysis
10.4 Flexible budgeting in practice
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11.2 Profit- and revenue-related variances
11.3 Direct cost variances
11.4 Analysing direct cost variance information
11.5 Overhead variances
11.6 Using overhead variance information
11.7 Cost variance adjustments in the general ledger
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12.2 ABC cost hierarchy
12.3 Understanding and implementing an ABC model
12.4 Activity-based management (ABM)
12.5 Benefits, costs and issues related to ABC
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13.2 Special orders
13.3 Product line and business segment (keep or drop) decisions
13.4 Insource or outsource (make or buy) decisions
13.5 Constrained resources
13.6 Qualitative factors important to non-routine operating decisions
13.7 Joint products and costs
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14.2 Introduction to strategy and control
14.3 Frameworks for strategy and control
14.4 Management responsibility and accountability practices
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15.2 Relevant cash flows
15.3 Net present value (NPV) method
15.4 Uncertainties and sensitivity analysis
15.5 Alternative methods used for capital investment decisions
15.6 Strategic considerations for investment decisions
15.7 Income taxes and the net present value method
15.8 Inflation and the net present value method
Appendix 15A Present and future value tables
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16.2 Customer profitability
16.3 Building desired profit into decisions
16.4 Kaizen costing
16.5 Life cycle costing
16.6 Price management: pricing methods
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17.2 Theory of constraints
17.3 Just-in-time (JIT) production
17.4 Total quality management (TQM): managing quality
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18.2 Responsibility accounting
18.3 Income-based performance evaluation
18.4 Transfer pricing
18.5 Additional transfer price considerations
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19.2 Strategy maps
19.3 The balanced scorecard
19.4 Steps in implementing a balanced scorecard
19.5 Strengths and weaknesses of the balanced scorecard
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20.2 The structure of reward systems
20.3 Forms of incentives
20.4 Structuring reward systems containing incentives
20.5 Emerging themes in reward systems
20.6 Risk management
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21.2 Sustainability, ethics and integrated thinking
21.3 Scope and benefits of sustainability management accounting
21.4 Sustainability management accounting tools
21.5 Sustainability management accounting — issues relating to successful integration
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Authors
Albie Brooks (University of Melbourne)
Gillian Vesty (RMIT University)
Nicholas Pawsey (Charles Sturt University)
Explore our content
This edition of Management Accounting provides a blend of foundational theory and practical application.
Across 21 chapters, students are guided through the role of management accounting in decision-making, while learning to apply various cost management techniques across different organisational settings.
Chapters are structured to enhance learning through practical examples, diagrams, and screencasts of worked problems, making it easier for students to grasp complex concepts. Each chapter ends with exercises designed to reinforce key concepts and encourage critical thinking. The book also includes extensive coverage of sustainability in accounting, data analytics, and the growing influence of AI in the field.
What’s in Management Accounting, 5th Edition?
- Latest Local Developments: Incorporates the latest local developments and knowledge, ensuring relevance to current practices and standards – this is the most up-to-date text in the Australian and New Zealand market.
- Comprehensive Coverage: Condensed into 21 chapters, suitable for two Management Accounting (MA) units.
- Decision-Making Focus: Emphasises the role of management accounting information in facilitating effective decision-making processes.
- Student-Friendly: Utilises a student-friendly approach, employing diagrams and extensive examples within and at the conclusion of chapters for enhanced comprehension.
- Practical Examples: Offers comprehensive examples throughout the text, demonstrating various cost accounting techniques and calculations.
- Excel Resources: Features substantial Excel resources, including screencasts of worked example exercises accessible via the e-Book, and an Excel primer in Chapter 1, designed to enhance foundational Excel skills essential for management accounting.
- Excel Integration: Features screencasts of worked problems to reinforce understanding.
- Excel Primer: Authored by Neale Blackwood, providing foundational skills essential for effective utilisation of Excel in management accounting tasks.
- ESG Considerations: Integrates discussions on Environmental, Social, and Governance (ESG) throughout.
- Emerging Technologies: Explores applications of data analytics and Artificial Intelligence (AI) in finance, providing insights into emerging trends and technologies.
- Sustainability Focus: Expansion and updating of the chapter dedicated to sustainability management accounting, incorporating recent developments and insights into sustainable business practices.
- Subscription Access: Available through Wiley Business Now, with supplementary practice texts.
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Interactives and Key Features
Available as a interactive e-text or printed textbook, with both subscription or buy-to-own access models. This title empowers students to master concepts and excel in assessments. Lecturers are supported with an extensive, easy-to-use teaching and learning package.
Our interactive eText offers extensive Excel resources, including screencasts of worked example exercises accessible through the eBook, as well as an Excel primer in Chapter 1. These resources are designed to build foundational Excel skills essential for success in management accounting.
Excel resources (eText)
Introduction of an Excel primer authored by Neale Blackwood, providing foundational skills essential for effective utilisation of Excel in management accounting tasks.
Excel primer
Integrates discussions on Environmental, Social, and Governance (ESG) considerations within the context of management accounting throughout the text.
Featured: ESG discussion
Our digital eText features end-of-chapter multiple-choice quizzes that provide instant feedback, helping to reinforce understanding and support learning.
Concept check questions (eText)
Our digital eText features interactive activities that let you match, categorise, or sequence concepts by moving elements on-screen, actively reinforcing learning with immediate feedback./p>
Interactivities (eText)
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