Introduction to Managerial Accounting Courseware

A Powerful, Hands-on Accounting Experience

Managerial accounting that is easy for professors and engaging for students.

Managerial Accounting Courseware

Managerial Accounting Courseware

A Cutting-edge Accounting Curriculum Backed by Decades of Experience

The “Introduction to Managerial Accounting” courseware gives you everything you need to teach a great course. This courseware contains ready-made resources for you, such as detailed, turnkey lesson plans; engaging explanatory videos from the authors; auto-graded quizzes and engaging assignments; lecture slide decks; a sample course calendar; and so much more. The included resources make it more than a Managerial Accounting textbook; it’s a whole course.

Plus, your students get an accessible, engaging text that brings complex accounting principles to life!

Together, courseware authors Dr. Kay Stice and Dr. Jim Stice have more than 70 years of experience teaching accounting. They bring a practical, hands-on approach to modern accounting subjects, providing you with the resources to teach an authoritative course in less prep time.

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Table of Contents

Chapter 1: Management Accounting and Cost Concepts
Introduction: Medical Supplies; a Peruvian Restaurant; Panaca, Nevada; and Walmart

Chapter 2: Cost Flows and Business Organizations
Introduction: I Paid the Restaurant $18, But How Much Did My Meal Cost Them to Make?

Chapter 3: Activity-based Costing
Introduction: Which Airline Passengers Create the Overhead? Why Do I Have to Pay?

Chapter 4: Cost Behavior and Decisions Using C-V-P Analysis
Introduction: Ramona’s Charity Banquet

Chapter 5: Budgeting and Control
Introduction: The Excruciating Excitement of Living from Paycheck to Paycheck

Chapter 6: Controlling Cost and Profit
Introduction: A Case Study in Cost Variance Analysis: Living Through a House Remodel

Chapter 7: Variable and Absorption Costing
Introduction: Who Pays for Rent on the Factory Building: This Year’s Customers or Next Year’s Customers?

Chapter 8: Relevant Information and Decisions
Introduction: Is It Faster to Drive or to Fly When Traveling from Salt Lake to Denver?

Chapter 9: Capital Investment Decisions
Introduction: To Buy Or Not To Buy: The Weekend Car in Hong Kong

Chapter 10: New Measures of Performance
Introduction: Flying a Boeing 737 on Fuel Made From Garbage, Used Cooking Oil, and Barnyard Waste

Chapter 11: Statement of Cash Flows
Introduction: Tesla’s Transformation from a Negative to a Positive Free Cash Flow Company

Chapter 12: Analyzing Financial Statements
Introduction: The French Revolution, Gunpowder, and Financial Statement Analysis

Appendix: The Time Value of Money
Introduction: The Time Value of Chocolate

Key Learning Objectives

Chapter 1: Management Accounting and Cost Concepts

  • Explain how management accounting is a competitive tool.
  • Understand the essential differences between management accounting and financial accounting.
  • Recognize and understand the common terms and concepts used in management accounting.
  • Discuss the need for ethics in management accounting and describe the ethical principles that apply to this profession.

Chapter 2: Cost Flows and Business Organizations

  • Explain the flow of products and costs in a manufacturing organization.
  • Understand the traditional procedure of accounting for overhead.
  • Create a Cost of Goods Manufactured schedule and understand how it is used to calculate the cost of goods sold.
  • Explain the flow of products and costs in a service organization and in a merchandising organization.

Chapter 3: Activity-based Costing

  • Explain the fundamentals of activity-based costing (ABC).
  • Identify overhead cost activities.
  • Determine measurable cost drivers to be used as the basis for assigning overhead costs to products.
  • Assign overhead to production using ABC cost drivers.
  • Use ABC data to make decisions.

Chapter 4: Cost Behavior and Decisions Using C-V-P Analysis

  • Understand the key factors involved in cost-volume-profit (C-V-P) analysis and why it is such an important tool in management decision-making.
  • Explain and analyze the basic cost behavior patterns — variable, fixed, and mixed.
  • Analyze mixed costs using the scattergraph and high-low methods.
  • Perform C-V-P analyses and describe the effects that potential changes in C-V-P variables have on company profitability.
  • Visualize C-V-P relationships using graphs.
  • Explain the effects of sales mix on profitability.
  • Describe how higher fixed costs increase a company’s operating leverage, leading to increased variability in profits as sales fluctuate.

Chapter 5: Budgeting and Control

  • Describe the importance of personal budgeting.
  • Explain the budgeting process and its behavioral implications in organizations.
  • Construct an operations budget and its components for manufacturing firms.
  • Compare the operations budget for a manufacturing firm to that of a merchandising or service firm.
  • Distinguish between static and flexible budgets.
  • Create the cash budget.

Chapter 6: Controlling Cost and Profit

  • Describe the responsibility accounting concept and identify the three types of organizational control units.
  • Describe standard costing, and use materials and labor cost variance analysis to explain how performance is controlled in cost centers.
  • Use segment margin statements and revenue variance analysis to explain how performance is controlled in profit centers.
  • Use ROI and residual income analysis to explain how performance is controlled in investment centers.

Chapter 7: Inventory Management and Variable and Absorption Costing

  • Identify the different types of inventory in manufacturing, service, and merchandising organizations.
  • Analyze the levels of raw materials, work-in-process, and finished goods inventories.
  • Understand the costs of carrying too much or too little inventory.
  • Compute economic order quantity, reorder point, and safety stock.
  • Use the absorption costing method required by Generally Accepted Accounting Principles (GAAP) for financial accounting.
  • Use the variable costing method which is often used for internal inventory management purposes and reconcile the impact of inventory levels on income statements using the absorption and variable costing methods.

Chapter 8: Relevant Information and Decisions

  • Understand the concepts of sunk costs and differential costs and revenues, and identify those costs and revenues that are relevant to making product and process decisions.
  • Decide whether to accept or reject a special order.
  • Determine whether a company should make a product itself or whether it should outsource the production to a supplier.
  • Identify when a company should drop a product line or exit or enter a market.
  • Determine whether to sell a joint product as it is or to process it further before selling it.
  • Select the best use of a scarce resource.
  • Use cost information in setting normal selling prices.

Chapter 9: Capital Investment Decisions

  • Understand the importance of capital budgeting and the concepts underlying strategic and capital investment decisions.
  • Describe and use two nondiscounted capital budgeting techniques: the payback method and the unadjusted rate of return method.
  • Describe and use two discounted capital budgeting techniques: the net present value method and the internal rate of return method.
  • Understand the need for evaluating qualitative factors in strategic and capital investment decisions.
  • Explain how income taxes affect capital budgeting decisions.

Chapter 10: New Measures of Performance

  • Understand the concept of measuring Economic Value Added.
  • Describe the relationship between just-in-time (JIT) management systems and total quality management (TQM).
  • Explain the fundamentals of building a Balanced Scorecard.
  • Outline the efforts companies are making in reporting their activities in Environment, Social, and Governance (ESG) issues.

Chapter 11: Statement of Cash Flows

  • Understand the purpose of a statement of cash flows.
  • Recognize the different types of information reported in the statement of cash flows.
  • Prepare a simple statement of cash flows.
  • Analyze financial statements to prepare a statement of cash flows.

Chapter 12: Analyzing Financial Statements

  • Explain the purpose of financial statement analysis.
  • Understand the relationships between financial statement numbers and use ratios in analyzing and describing a company’s performance.
  • Use common-size financial statements to compare financial statements across years and between companies.
  • Understand the DuPont framework and how return on equity can be broken out into profitability, efficiency, and leverage components.
  • Conduct a focused examination of a company’s efficiency by using asset-specific ratios.
  • Determine the degree of a company’s financial leverage and its ability to repay loans using debt-related financial ratios.
  • Use cash flow information to evaluate cash flow ratios.
  • Understand the limitations of financial statement analysis.

Educator Resources

The courseware’s materials make teaching managerial accounting easier for you and more engaging for students. The following resources are included:

  • Auto-graded quiz for each chapter

  • Turnkey assignments

  • 69 lecture slide decks

  • Lesson plans

  • Engaging, author-led video content

  • Real-world examples

  • Sample syllabus and course calendars

  • Cumulative glossary for student reference

  • LMS integration with Stukent platforms

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Managerial Accounting Bundle

Managerial Accounting Bundle

Managerial Accounting Textbook and Simulation

Courseware + Simternship™

The Managerial Accounting Bundle helps instructors create an engaging learning environment and prepares students come to class excited to learn. This courseware isn’t a textbook, it’s a complete, turnkey accounting curriculum with a suite of educational tools to make teaching accounting efficient and effective.

Part of the bundle includes the all-new Managerial Accounting Simternship™, a robust simulation that allows students to complete job-related tasks in a real-world setting.

The “Introduction to Managerial Accounting” courseware includes hundreds of resources for educators and pairs seamlessly with the Managerial Accounting Simternship.

About the Authors

Picture of Jim Stice

Jim Stice

Jim Stice is an emeritus professor of accounting at Brigham Young University, where he spent his career teaching, conducting research, and serving in administrative roles. He’s won numerous teaching awards, served as a visiting professor at INSEAD, and worked in executive education for companies such as IBM and Ernst & Young. Over his 30-year career, Jim has educated thousands of accounting students and professionals in person and has reached millions of learners online.

Picture of Kay Stice

Kay Stice

Kay Stice is an emeritus professor of accounting at Brigham Young University. He holds a bachelor’s and master’s degree from Brigham Young University and a Ph.D. from Cornell University. He’s taught at top universities around the world and won numerous awards, including the Maeser Excellence in Teaching Award at BYU, which is the university’s highest teaching honor. In his 30 years of teaching, Kay has taught thousands of students in person and millions online.

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Managerial Accounting

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