Advanced Management Accounting: A Modern Perspective
Advanced Management Accounting: A Modern Perspective, written by John C. Weygandt, Paul D. Kimmel, and Donald E. Kieso, is a comprehensive and widely recognized textbook that has been a staple in the field of management accounting for several decades. Published by Wiley, this book has been instrumental in shaping the understanding and practice of management accounting principles across the globe.
Book Information
Author: John C. Weygandt, Paul D. Kimmel, and Donald E. Kieso
Publisher: Wiley
Publication Date: The most recent edition was published in 2020.
Introduction
Advanced Management Accounting: A Modern Perspective is designed to provide students and professionals with a solid foundation in the principles and practices of management accounting. The authors, all seasoned educators and practitioners in the field, have crafted a text that balances theoretical knowledge with practical applications, making it an invaluable resource for anyone seeking to excel in management accounting.
Book Outline
1、Introduction to Management Accounting: This section sets the stage for the rest of the book, introducing the concepts, objectives, and importance of management accounting in modern business environments.
2、Cost Concepts and Behavior: The book delves into the fundamental concepts of cost, including fixed and variable costs, cost behavior analysis, and cost estimation techniques.
3、Cost Allocation and Activity-Based Costing: This chapter explores advanced cost allocation methods, including activity-based costing (ABC), and how they can be used to improve cost accuracy and decision-making.
4、Budgeting and Planning: The authors discuss the role of budgets in planning and controlling business operations, covering topics such as master budgets, flexible budgets, and budgetary variance analysis.
5、Performance Measurement: This section examines the various performance measurement tools and techniques used in management accounting, including variance analysis, balanced scorecards, and economic value added (EVA).
6、Cost-Volume-Profit Analysis: The book covers the essential concepts of cost-volume-profit (CVP) analysis, including break-even analysis, target profit analysis, and pricing decisions.
7、Capital Budgeting: This chapter focuses on the evaluation of long-term investment decisions, including the time value of money, net present value (NPV), internal rate of return (IRR), and payback period.
8、Cash Flow and Financial Statement Analysis: The authors provide a detailed analysis of cash flow, including operating, investing, and financing activities, and how it relates to financial statement analysis.
9、Cost Management: This section explores advanced cost management techniques, such as strategic cost management, target costing, and value chain analysis.
10、Ethical and Social Responsibility: The book concludes with a discussion on the ethical and social responsibilities of management accountants, emphasizing the importance of integrity and sustainability in business practices.
Conclusion
Advanced Management Accounting: A Modern Perspective is an authoritative and up-to-date resource that continues to be a benchmark in the field. Its comprehensive coverage of management accounting principles, combined with real-world examples and practical exercises, makes it an indispensable tool for students and professionals alike. Whether you are seeking to deepen your understanding of management accounting or to enhance your skills in this area, this book is an excellent choice.