Accounting is often referred to as the "language of business." However, managers must be able to communicate their information needs to accountants and understand the resulting answer. This text provides a context for dialogue among all the business disciplines and emphasizes the practical rather than the theoretical. Thus, it stresses the techniques and procedures of greatest managerial importance. The perspective taken by Managerial Accounting is that managers and accountants must have a common understanding of the organizational role of accounting information, what techniques are available to provide that information, what details are needed to perform the techniques, and the benefits and limitations of the information provided by the various techiques in response to managers' needs. An integrated approach to information flow will create an atmosphere of trust, sharing, and cooperation.
Part 1 The business environment
Part 2 The basics of managerial accounting
Part 3 Using managerial accounting information for planning
Part 4 Using managerial accounting information for product costing
Part 5 Using managerial accounting information for control