Nelson Higher Education

Higher Education

Cornerstones of Managerial Accounting, 1st Edition

  • Maryanne M. Mowen
  • Don R. Hansen
  • Dan L. Heitger
  • George Gekas
  • David McConomy
  • ISBN-10: 0176503617
  • ISBN-13: 9780176503611
  • 0 Pages | Hardcover
  • Previous Editions: 2009, 2008, 2006
  • COPYRIGHT: 2012 Published
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Overview

About the Product

Get your students where they need to be with CORNERSTONES. Cornerstones is the only text that delivers a truly unique learning system through the entire journey of introductory accounting—ensuring they will leave the course with the needed elements to be future business leaders. 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, it is easier to understand the greater context in the business world.

Features

  • Cornerstones of Managerial Accounting, First Canadian Edition, introduces students to key managerial accounting concepts and principles (“Cornerstones”). The unique framework uses “Cornerstones” boxes in each chapter to demonstrate fundamental calculations. 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.

  • Each Cornerstone in the book is accompanied by a short video podcast that students may view online or download to a portable video player. The podcasts provide clear, step-by-step examples designed 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 frommultiple chapters to offer an additional challenge to students and more variety whenassigning homework. They occur after Chapters 4, 10, and 14.

  • Each chapter now has one or two CMA Exam Questions (provided by CMA Canada) as part of the end-of-chapter exercises.

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.

Don R. Hansen

Dr. Don R. Hansen is Professor Emeritus of Oklahoma State University. He has an undergraduate degree in mathematics from Brigham Young University. He received his Ph.D. from the University of Arizona in 1977. Dr. Hansen has published articles in both accounting and engineering journals, including The Accounting Review, The Journal of Management Accounting Research, Accounting Organizations and Society, Accounting Horizons, and IIE Transactions. He has served on the editorial board of The Accounting Review. His outside interests include family, church activities, reading, movies, and watching sports.

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.

George Gekas

Dr. Gekas is a Management Accountant (CMA), a FCMA and he is actively involved in the Society of Management Accountants of Ontario where he held a number of important positions. Currently he is serving as Chair of the Complaints Committee Recently; he was appointed CMA in residence at the Ted Rogers School of Business Management the first of such appointment in Canada awarded the prestigious FCMA designation. Dr. Gekas’ active research program includes several research projects, grants, and a number of articles in a wide variety of business topics, teaching aids and manuals. His expertise covers the entire financial management spectrum with a special emphasis in Management Accounting strategic management, operational efficiency, accountability, and corporate performance. As a university educator and educational administrator, Professor Gekas has been involved in a variety of capacities in a number of post-secondary educational projects and is fully immersed in the issues facing Canadian postsecondary institutions and universities. Dr. Gekas has also a genuine interest in issues of community and social development.

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.

Table of Contents

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
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: Profit Planning
Chapter 10: Standard Costing: A Managerial Control Tool
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

New to this edition

  • Canadian examples, vignettes and accounting practices are highlghted throughout the text where appropriate.
  • 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.
  • Income tax considerations in Capital Budgeting are discussed in a Canadian context including coverage of the CCA Tax Shield.
  • Global companies that operate in Canada have been retained in some examples and vignettes, particularly those companies that are widely recognized by Canadian students. In most cases where a global company has been used in a chapter-opening vignette, the company's presence in Canada is discussed.
  • Integrative Exercises are included following selected Parts. These 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.

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

Aplia 6-months Printed Access Card for Mowen Cornerstones of Managerial Accounting, First Canadian Edition  (ISBN-10: 0176633359 | ISBN-13: 9780176633356)
Aplia 6-months Instant Access for Mowen, Cornerstones of Managerial Accounting, First Canadian Edition  (ISBN-10: 0176633375 | ISBN-13: 9780176633370)
Aplia Printed Access Card (12 mths) for Cornerstones of Managerial Accounting  (ISBN-10: 0176660763 | ISBN-13: 9780176660765)
Aplia Instant Access Code (12 mths) for Cornerstones of Managerial Accounting  (ISBN-10: 0176660666 | ISBN-13: 9780176660666)
DVD for Cornerstones of Managerial Accounting  (ISBN-10: 0176628827 | ISBN-13: 9780176628826)
Solutions Manual for Cornerstones of Managerial Accounting  (ISBN-10: 0176628185 | ISBN-13: 9780176628185)
Instructor's Resource CD for Cornerstones of Managerial Accounting  (ISBN-10: 0176616888 | ISBN-13: 9780176616885)

Student Supplements

Aplia 6-months Printed Access Card for Mowen Cornerstones of Managerial Accounting, First Canadian Edition  (ISBN-10: 0176633359 | ISBN-13: 9780176633356)
Aplia 6-months Instant Access for Mowen, Cornerstones of Managerial Accounting, First Canadian Edition  (ISBN-10: 0176633375 | ISBN-13: 9780176633370)
Aplia Printed Access Card (12 mths) for Cornerstones of Managerial Accounting  (ISBN-10: 0176660763 | ISBN-13: 9780176660765)
Aplia Instant Access Code (12 mths) for Cornerstones of Managerial Accounting  (ISBN-10: 0176660666 | ISBN-13: 9780176660666)