Introduction to Financial Accounting, Pearson New International Edition, 11th edition
Published by Pearson (November 1, 2013) © 2014
  • Charles Horngren
  • Gary L. Sundem
  • John A. Elliott
  • Donna Philbrick

Title overview

For MBA-level managerial accounting courses.

This Global Edition has been edited to include enhancements making it more relevant to students outside the United States

An essential tool for understanding how to make effective economic decisions.

In today’s troubled economy, it’s important to show students how managerial decisions can affect business costs. Introduction to Management Accounting helps to enhance students’ ability to make effective economic decisions by encouraging them to understand the inner-workings of the concepts, rather than solely focusing on technique memorization. Overall, this text describes both theory and common practices in a way that will help students produce information that’s useful in day-to-day decision-making.

Hallmark Features

  • Understanding Why: Most managers would likely agree that understanding concepts is more important than memorizing techniques. This text focuses on why companies use various techniques, rather than have students blindly apply the concepts.
  • Seeing the concepts in many areas of the field: All business sectors discussed. The concepts found in this text do not solely apply to large corporations, which is why nonprofit, retail, wholesale, service, selling, manufacturing, and administrative situations are addressed throughout.
  • Presenting the basics up-front: The core concepts and principles are explained in the first few chapters and are then revisited, where applicable, at more complex levels throughout the remainder of the text. Covering the fundamental concepts in the first few chapters helps to equip students with a foundation that they can use to apply to the more challenging material.
  • Taking out the guesswork: Real-world business examples are provided so that students don’t have to imagine how techniques will work in today’s businesses. These examples—which are drawn from actual companies that students know and trust such as Starbucks, Boeing, AT&T, McDonald’s, and Microsoft—are presented with relevant subject matter, clearly and accessibly, throughout the text.

New to this Edition

  • Totally updated text to include current examples from real companies
  • Extensive revisions for clarity
  • Revision of problem material to include examples from corporate outcomes in the last two years
  • Coverage of the current status of FASB and IASB regulatory action
  • Highlights of likely upcoming changes in accounting standards, including revenue recognition and leases
  • Updated Business First Boxes

Table of contents

I. FOCUS ON DECISION MAKING

  1. 1. Managerial Accounting, the Business Organization, and Professional Ethics
  2. 2. Introduction to Cost Behavior and Cost-Volume Relationships
  3. 3. Measurement of Cost Behavior
  4. 4. Cost Management Systems and Activity-Based Costing
  5. 5. Relevant Information for Decision Making with a Focus on Pricing Decisions
  6. 6. Relevant Information for Decision Making with a Focus on Operational Decisions

II. ACCOUNTING FOR PLANNING AND CONTROL

  1. 7. Introduction to Budgets and Preparing the Master Budget
  2. 8. Flexible Budgets and Variance Analysis
  3. 9. Management Control Systems and Responsibility Accounting
  4. 10. Management Control in Decentralized Organizations

III. CAPITAL BUDGETING

  1. 11. Capital Budgeting

IV. PRODUCT COSTING

  1. 12. Cost Allocation
  2. 13. Accounting for Overhead Costs
  3. 14. Job-Costing and Process-Costing Systems

V. BASIC FINANCIAL ACCOUNTING

  1. 15. Basic Accounting: Concepts, Techniques, and Conventions
  2. 16. Understanding Corporate Annual Reports: Basic Financial Statements
  3. 17. Understanding and Analyzing Consolidated Financial Statements
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