Nelson Higher Education

Higher Education

Cornerstones of Managerial Accounting, 2nd Edition

  • Maryanne M. Mowen
  • Don R. Hanson
  • Dan L. Heitger
  • David McConomy
  • Jeffrey Pittman
  • ISBN-10: 0176530886
  • ISBN-13: 9780176530884
  • 0 Pages | Hardcover
  • Previous Editions: 2012, 2009, 2008
  • COPYRIGHT: 2015 Published
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Overview

About the Product

The unique Cornerstones pedagogy, carefully crafted from the ground up, is at the heart of this text, providing consistent step-by-step examples to help students solve fundamental calculations. There is a “Cornerstone” for every major calculation in the book, serving as a “How To” guide. When students are able to master the foundations of management accounting, they are better able to understand the interrelated nature of accounting concepts and their impact on business. Students are often more comfortable learning the detailed concepts on their own and the Cornerstones provide the opportunity for them to work through every concept at their own pace. Get your students where they need to be with Cornerstones.

Features

  • Cornerstones – Each ‘Cornerstone’ consists of three parts: Cornerstones Examples, Cornerstones Videos, and Cornerstones Exercises. There is a “Cornerstone” for every major calculation in the book. Cornerstone examples are clear, consistently formatted, and step-by-step to help students understand key concepts and complete homework. Each Cornerstone has four parts: Information, Required, Solution and Why. The “WHY” section of each Cornerstone encourages students to think about the business decisions surrounding each technique.

  • Cornerstones Exercises at the end-of-chapter reference the corresponding Cornerstones Example from the text that will aid the student in completing that particular exercise. This makes getting started with the homework less intimidating and encourages students to learn more independently. After students “warm up” with Cornerstones Exercises, they move on to more difficult problems and exercises that cover multiple learning objectives and do not reference the related Cornerstone Examples. The text’s end-of-chapter includes these varying levels of difficulty, providing you with a myriad of materials to assign.

  • Cornerstones Videos are short video podcasts that students may view online or download to a portable video player. The podcasts provide clear, step-by-step examples designed and presented for today’s visual learners. They walk students through each step of each Cornerstone.

  • The Canadian edition has been divided into four parts: Planning, Costing, Control, and Short-and Long-Term Decision Making. Each part opens with a section detailing the interrelationship between the chapters within the part. Integrative Exercises are comprehensive exercises that bring together concepts from multiple chapters to offer an additional challenge to students and more variety when assigning homework. They occur after Chapters 4, 10, and 14.

  • Concept Q & A ask students conceptual questions as they go through the material to make sure they are grasping the big picture and the “whys” of chapter concepts. Answers are provided below them upside down so that students can gauge their own comprehension. Answers are at the back of the book.

Reviews

One of the best books in Managerial Accounting I have ever encountered. The authors take students by their hand and use excellent real world examples (many of which relate to students’ personal life) to guide them through complex accounting questions. Moreover, the authors provide excellent student resources and employ a novel well-thought-out approach to keep students engaged throughout their reading.
— Thomas Walker, Concordia University

About the Author

Maryanne M. Mowen

Maryanne M. Mowen is associate professor of accounting at Oklahoma State University. She received her Ph.D. from Arizona State University. With degrees in economics and history, she brings a unique interdisciplinary perspective to teaching and writing in both cost accounting and management accounting. Her research interests include management accounting, behavioural decision theory, and Sarbanes-Oxley compliance, and she teaches an ethics course about the impact of Sarbanes-Oxley on the accounting profession. Mowen has published articles in journals such as Decision Science, Journal of Economic Psychology, and Journal of Management Accounting Research. She has also served as a consultant to mid-sized and Fortune 100 companies and works with corporate controllers on management accounting issues. Outside the classroom, she enjoys hiking, travelling, reading mysteries, and solving crossword puzzles. Don R. Hansen is professor of accounting at Oklahoma State University. He received his Ph.D. from the University of Arizona and has an undergraduate degree in mathematics from Brigham Young University. His research interests include activity-based costing and mathematical modelling. Hansen’s published articles appear in The Accounting Review; Journal of Management Accounting Research; Accounting, Organizations, and Society; Accounting Horizons; and IIE Transactions.

Dan L. Heitger

Dr. Dan L. Heitger is the Deloitte Professor of Accounting and Co-Director of the Center for Business Excellence at Miami University. He received his Ph.D. from Michigan State University and his undergraduate degree in accounting from Indiana University. He actively works with executives and students of all levels in developing and teaching courses in managerial accounting, business sustainability, risk management, stakeholder management, governance, and business reporting. He co-founded an organization that provides executive education for large international organizations. His interactions with business professionals, through executive education and the Center, allow him to bring a current and real-world perspective to his writing. His published research focuses on managerial accounting and risk management issues and has appeared in HARVARD BUSINESS REVIEW, BEHAVIORAL RESEARCH IN ACCOUNTING, ACCOUNTING HORIZONS, ISSUES IN ACCOUNTING EDUCATION, JOURNAL OF ACCOUNTANCY, and MANAGEMENT ACCOUNTING QUARTERLY. His outside interests include hiking with his family in the National Park system.

David McConomy

After qualifying as a Chartered Accountant with Arthur Andersen & Co. in Toronto, Mr. McConomy's thirty year career in business has focused on the Finance and Accounting requirements of small to medium sized businesses. He has gained considerable experience assisting young companies, mainly in the technology field, in strategic planning and corporate finance. As Chief Financial Officer of Systemhouse Ltd. (which was later sold to MCI and subsequently to EDS), he was instrumental in the process of taking that company public. During his tenure with Systemhouse, revenues rose from $16.5 million to in excess of $100 million. While with Antares Electronics Inc., he raised $20 million (through venture capital investments, sale and leaseback transactions and restructuring bank lines of credit) to enable the company to become one of Profit Magazine's fastest growing companies, as revenues increased over a three year period from $36 million to $100 million. Latterly, he assisted ComentiX Computer Systems Inc. to become a public company and to raise funds from a variety of sources to fund its growth. He is currently Assistant Professor at Queen’s School of Business. Since joining the Queen’s Faculty in 2001, he has won numerous Faculty Teaching Awards and prides himself in engaging with the students both within the classroom and outside of it. Mr. McConomy is the Director of the Queen’s Graduate Diploma in Accounting program. He has taught accounting, financial management and business strategy (at the undergraduate and MBA levels) on both a full time and part time basis at Queen's University, University of Ottawa and, internationally, in association with the Academy of Economic Studies in Bucharest, Romania and in Beijing, China.

Jeffrey Pittman

Dr. Jeffrey A. Pittman was recently appointed Memorial University’s Chair in Corporate Governance and Transparency as well as its CMA Professor of Accounting. Dr. Pittman has been an editor of Contemporary Accounting Research since 2010. Although he primarily publishes his research in such major accounting journals as The Accounting Review, the Journal of Accounting Research, the Journal of Accounting and Economics, and Contemporary Accounting Research, Dr. Pittman’s papers also appear in top finance (e.g., the Journal of Financial Economics) and ethics (e.g., the Journal of Business Ethics) outlets. Apart from a two-year visit at the Hong Kong University of Science and Technology (HKUST), Dr. Pittman has taught at Memorial University since graduating from the University of Waterloo’s accounting PhD program in 2001. He has received numerous research and teaching honours, including the Dean’s Teaching Award at Memorial’s Faculty of Business Administration in 2010. Dr. Pittman, who is a chartered accountant and certified management accountant, has been a moderator in the CMA professional program for several years.

Table of Contents

Preface
Acknowledgements
About the Authors

Chapter 1: Introduction to Managerial Accounting
Chapter 2: Basic Managerial Accounting Concepts
Chapter 3: Cost Behaviour
Chapter 4: Cost–Volume–Profit Analysis: A Managerial Planning Tool

Integrative Case 1: Cost Behaviour and Cost–Volume–Profit Analysis for Many Glacier Hotel

Chapter 5: Job-Order Costing
Chapter 6: Process Costing
Chapter 7: Activity-Based Costing and Management
Chapter 8: Absorption and Variable Costing, and Inventory Management
Chapter 9: Budgeting, Production, Cash, and Master Budget
Chapter 10: Standard Costing: A Managerial Control Tool

Integrative Case 2: The Two Cost Systems

Chapter 11: Flexible Budgets and Overhead Analysis
Chapter 12: Performance Evaluation and Decentralization
Chapter 13: Short-Run Decision Making: Relevant Costing
Chapter 14: Capital Investment Decisions

Integrative Case 3: Special Sales Offer

Q&A Boxes: Answers
Glossary
Index
Company Index

New to this edition

  • CengageNowTM is a powerful online homework and study tool that helps students get the most out of their course. Interactive learning resources like Cornerstone Videos, Animated Activities, Blueprint Problems, Blueprint Connections and an integrated e-book reinforce course concepts. The personalized study plan optimizes the student learning experience.
  • We are very excited to welcome Jeffrey Pittman PhD, Memorial University of Newfoundland to the team for this edition. Jeff brings a wealth of experience as an accountant, an academic, and an educator that has had a very positive impact on the second edition.
  • Increased Readability and Refined Design: The new edition features a completely new design with various features to improve readability including the Q&A inserts, Cornerstones, improved use of lists and subheadings, and better placement of exhibits.
  • Improved end-of-chapter content: This edition features a revision of approximately 25% of the end-of-chapter content, including an average of 1 new case per chapter and 3 – 4 new exercises or problems.
  • Additional Conceptual Material in End-of-Chapter: Additional Conceptual Connection questions are identified in the end-of-chapter content. These questions ask students to go beyond the calculations to articulate the conceptual context behind the work they’ve just completed and how that information may impact a company’s decision-making.

Supplements

All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.

Instructor Supplements

MindTap 6-month Printed Access Card for Mowen, Cornerstones of Managerial Accounting, Second Canadian Edition  (ISBN-10: 0176701702 | ISBN-13: 9780176701703)
MindTap 6-month Instant Access for Mowen, Cornerstones of Managerial Accounting, Second Canadian Edition  (ISBN-10: 0176701729 | ISBN-13: 9780176701727)

MindTap® provides you with the tools you need to manage your time better. You can complete assignments whenever and wherever with course material customized and streamlined for you by your instructor in a proven and easy-to-use interface. Relevant, engaging material keeps you connected to your course and course analytics by providing timely feedback showing you where you stand at all times—both individually and compared with the highest performers in class. With a wide array of course specific tools and apps – from an interactive eBook to note taking capabilities and flashcards, you can feel confident that MindTap is a worthwhile and valuable investment in your education. Please note - A Course Registration URL or Course Key is required from your Instructor to use MindTap.

DVD for Mowen, Cornerstones of Managerial Accounting  (ISBN-10: 0176583505 | ISBN-13: 9780176583507)
Solutions Manual for Mowen, Cornerstones of Managerial Accounting  (ISBN-10: 0176583513 | ISBN-13: 9780176583514)
Kit: Cornerstones of Managerial Accounting + CNOW Printed Access Card (12-Months Access)  (ISBN-10: 017665092X | ISBN-13: 9780176650926)
CNOW Instant Access (6-Months) for Mowen, Cornerstones of Managerial Accounting  (ISBN-10: 0176686983 | ISBN-13: 9780176686987)
CNOW Instant Access (12-Months) for Mowen, Cornerstones of Managerial Accounting  (ISBN-10: 0176686991 | ISBN-13: 9780176686994)
Instructor Resources for Mowen, Cornerstones of Managerial Accounting  (ISBN-10: 0176583920 | ISBN-13: 9780176583927)

Student Supplements

MindTap 6-month Printed Access Card for Mowen, Cornerstones of Managerial Accounting, Second Canadian Edition  (ISBN-10: 0176701702 | ISBN-13: 9780176701703)
MindTap 6-month Instant Access for Mowen, Cornerstones of Managerial Accounting, Second Canadian Edition  (ISBN-10: 0176701729 | ISBN-13: 9780176701727)

MindTap® provides you with the tools you need to manage your time better. You can complete assignments whenever and wherever with course material customized and streamlined for you by your instructor in a proven and easy-to-use interface. Relevant, engaging material keeps you connected to your course and course analytics by providing timely feedback showing you where you stand at all times—both individually and compared with the highest performers in class. With a wide array of course specific tools and apps – from an interactive eBook to note taking capabilities and flashcards, you can feel confident that MindTap is a worthwhile and valuable investment in your education. Please note - A Course Registration URL or Course Key is required from your Instructor to use MindTap.

Kit: Cornerstones of Managerial Accounting + CNOW Printed Access Card (12-Months Access)  (ISBN-10: 017665092X | ISBN-13: 9780176650926)
CNOW Instant Access (6-Months) for Mowen, Cornerstones of Managerial Accounting  (ISBN-10: 0176686983 | ISBN-13: 9780176686987)
CNOW Instant Access (12-Months) for Mowen, Cornerstones of Managerial Accounting  (ISBN-10: 0176686991 | ISBN-13: 9780176686994)