Managerial Accounting Asia Global Edition 2e: What You Need to Know About This Textbook and How to Get It
Managerial Accounting Asia Global Edition 2e: A Comprehensive and Practical Guide for Students and Professionals
If you are looking for a textbook that covers all the essential topics of managerial accounting in a clear, concise, and relevant way, then you should consider Managerial Accounting Asia Global Edition 2e. This book is designed to help you master the concepts and skills of managerial accounting and apply them to real-world situations. Whether you are a student, a teacher, or a professional, this book will provide you with valuable insights and guidance on how to use managerial accounting effectively.
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What is Managerial Accounting and Why is it Important?
Managerial accounting is the branch of accounting that focuses on providing information for internal users, such as managers, employees, and owners. Managerial accounting helps these users plan, control, evaluate, and improve the performance of their organizations. Managerial accounting also supports decision making by providing relevant, timely, and accurate information on costs, revenues, profits, budgets, variances, and other aspects of business operations.
Managerial accounting is important because it helps organizations achieve their strategic goals and objectives. By using managerial accounting information, managers can:
Identify the sources of competitive advantage and value creation
Allocate resources efficiently and effectively
Monitor and control costs and quality
Motivate and reward employees
Communicate with stakeholders
Comply with ethical and social responsibilities
How Managerial Accounting Differs from Financial Accounting
Managerial accounting differs from financial accounting in several ways. Financial accounting is the branch of accounting that focuses on providing information for external users, such as investors, creditors, regulators, and tax authorities. Financial accounting follows generally accepted accounting principles (GAAP) or international financial reporting standards (IFRS) that ensure consistency, comparability, and reliability of financial statements. Financial accounting reports on the past performance of an organization as a whole.
Managerial accounting, on the other hand, does not have to follow any specific rules or standards. Managerial accounting can be customized to meet the needs and preferences of different users and situations. Managerial accounting reports on the current or future performance of specific segments or activities of an organization.
The table below summarizes some of the main differences between managerial accounting and financial accounting:
Managerial Accounting
Financial Accounting
Purpose: To provide information for internal users for planning, controlling, evaluating, and improving performance
Purpose: To provide information for external users for investing, lending, regulating, and taxing decisions
Focus: On the current or future performance of specific segments or activities of an organization
Focus: On the past performance of an organization as a whole
Rules: No specific rules or standards; can be customized to meet the needs and preferences of different users and situations
Rules: Follows generally accepted accounting principles (GAAP) or international financial reporting standards (IFRS) that ensure consistency, comparability, and reliability of financial statements
Frequency: As often as needed; can be monthly, weekly, daily, or even hourly
Frequency: Usually annually or quarterly
Scope: Broad and multidisciplinary; can include financial and non-financial information, such as physical units, customer satisfaction, market share, environmental impact, etc.
Scope: Narrow and specialized; mainly includes financial information, such as revenues, expenses, assets, liabilities, and equity
Audience: Managers, employees, and owners
Audience: Investors, creditors, regulators, and tax authorities
Verification: No independent audit required; subject to internal review and feedback
Verification: Independent audit required; subject to external scrutiny and assurance
What are the Main Topics Covered in Managerial Accounting Asia Global Edition 2e?
Managerial Accounting Asia Global Edition 2e covers all the main topics of managerial accounting in 17 chapters. Each chapter is organized into learning objectives that guide you through the key concepts and skills. Each chapter also includes business focus stories, real-world examples, exercises, problems, cases, and online resources to help you apply what you learn. Here are the main topics covered in each chapter:
Cost Concepts and Behavior
This chapter introduces you to the basic concepts and terminology of cost accounting. You will learn how to classify costs by different criteria, such as function, behavior, traceability, relevance, and quality. You will also learn how to analyze the relationship between cost and activity using cost functions and graphs.
Cost-Volume-Profit Analysis and Variable Costing
This chapter shows you how to use cost-volume-profit (CVP) analysis to estimate how changes in sales volume, selling price, variable cost, fixed cost, and product mix affect profit. You will learn how to calculate the break-even point, the target profit level, the margin of safety, and the degree of operating leverage. You will also learn how to compare variable costing and absorption costing methods for income measurement and decision making.
Job-Order Costing and Process Costing
This chapter explains how to use job-order costing and process costing systems to assign costs to products or services. You will learn how to trace direct materials and direct labor costs to each job or process, and how to allocate overhead costs using predetermined overhead rates. You will also learn how to account for underapplied or overapplied overhead, and how to adjust cost of goods sold accordingly.
Activity-Based Costing and Management
This chapter introduces you to activity-based costing (ABC) and activity-based management (ABM). You will learn how to identify activities and cost drivers that cause overhead costs, and how to assign overhead costs more accurately using multiple overhead rates based on activities. You will also learn how to use ABC information for product costing, pricing, customer profitability analysis, process improvement, and performance evaluation.
Budgeting and Standard Costing
This chapter covers the topics of budgeting and standard costing. You will learn how to prepare a master budget that consists of operating budgets (sales budget, production budget, etc.) and financial budgets (cash budget, budgeted income statement, etc.). You will also learn how to set standard costs for materials, labor, and overhead based on expected levels of efficiency and quality. You will also learn how to use budgetary control reports and flexible budgets to monitor actual performance against planned performance.
Flexible Budgets and Variance Analysis
This chapter shows you how to use variance analysis to evaluate the differences between actual costs and standard costs. You will learn how to calculate and interpret material variances, labor variances, and overhead variances. You will also learn how to analyze the causes of variances and take corrective actions if necessary.
Relevant Costs and Decision Making
This chapter teaches you how to use relevant costs and benefits Capital Budgeting and Discounted Cash Flows
This chapter introduces you to capital budgeting, which is the process of evaluating long-term investment projects. You will learn how to use discounted cash flow methods, such as net present value (NPV), internal rate of return (IRR), profitability index (PI), and payback period (PP), to compare the expected costs and benefits of different projects. You will also learn how to incorporate risk and uncertainty factors, such as sensitivity analysis, scenario analysis, and simulation, into capital budgeting decisions.
Performance Evaluation and Balanced Scorecard
This chapter explains how to use performance evaluation systems to measure and improve the performance of managers and business units. You will learn how to use financial measures, such as return on investment (ROI), residual income (RI), and economic value added (EVA), to evaluate the profitability and efficiency of managers and business units. You will also learn how to use non-financial measures, such as the balanced scorecard (BSC), to evaluate the customer satisfaction, internal processes, innovation, and learning of managers and business units.
How to Use Managerial Accounting Asia Global Edition 2e Effectively?
Managerial Accounting Asia Global Edition 2e is a textbook that is designed to help you use managerial accounting effectively. Here are some features and tips that will enhance your learning experience:
Features of the Textbook
Business Focus stories: These are short stories that open each chapter and introduce you to the real-world context and relevance of the topics covered in the chapter.
In Business and In Government boxes: These are boxes that provide further examples of how managerial accounting concepts are applied in different types of organizations.
Managerial Accounting in Action: These are sections that show you how managerial accounting tools and techniques are used to solve everyday business problems.
Exercises, Problems, and Cases: These are questions and tasks that test your understanding and application of the concepts and skills learned in the chapter. They range from simple to complex and from numerical to analytical.
Online Resources: These are additional materials that are available online, such as videos, news articles, quizzes, solutions, and more. They can help you review, practice, and enrich your learning.
Tips for Studying and Learning
Read the Business Focus story before reading the chapter. This will help you connect the topics with real-world situations and motivate you to learn more.
Follow the learning objectives for each chapter. These are statements that describe what you should be able to do after completing the chapter. They will guide you through the key concepts and skills.
Review the summary and key terms at the end of each chapter. These will help you recall the main points and definitions covered in the chapter.
Do the exercises, problems, and cases at the end of each chapter. These will help you check your understanding and application of the concepts and skills. You can also compare your answers with the solutions provided online.
Use the online resources for further study and practice. These will help you reinforce your learning and explore more topics related to managerial accounting.
Where to Download Managerial Accounting Asia Global Edition 2e PDF for Free?
If you want to download Managerial Accounting Asia Global Edition 2e PDF for free, you can visit this website: https://sway.office.com/ET5rGu6w4HZ3yP8v. This website provides a verified link to download the PDF version of the textbook without any registration or payment required. You can also find other useful resources on this website, such as lecture notes, test banks, slides, etc.
However, please note that downloading Managerial Accounting Asia Global Edition 2e PDF for free may violate the copyright laws in your country. Therefore, we recommend that you purchase a legitimate copy of the textbook from a reputable online or offline bookstore. This way, you can support the authors and publishers who have invested their time and effort in creating this valuable textbook for you.
Conclusion
Managerial Accounting Asia Global Edition 2e is a comprehensive and practical guide for students and professionals who want to learn and use managerial accounting effectively. It covers all the main topics of managerial accounting in a clear, concise, and relevant way. It also provides helpful pedagogical features and online resources to enhance your learning experience. Whether you are a student, a teacher, or a professional, this book will provide you with valuable insights and guidance on how to use managerial accounting to achieve your goals and objectives.
FAQs
Here are some frequently asked questions about Managerial Accounting Asia Global Edition 2e:
Who are the authors of Managerial Accounting Asia Global Edition 2e?
The authors of Managerial Accounting Asia Global Edition 2e are Ray H. Garrison, Eric W. Noreen, Peter C. Brewer, Nam Sang Cheng, and Katherine C. K. Yuen. They are all experienced and respected professors and researchers in the field of accounting.
What is the difference between Managerial Accounting Asia Global Edition 2e and Managerial Accounting 17th Edition?
Managerial Accounting Asia Global Edition 2e is an adaptation of Managerial Accounting 17th Edition by Garrison, Noreen, and Brewer. The main difference is that Managerial Accounting Asia Global Edition 2e includes new Asian content that is relevant to the Asia-Pacific environment. It also updates some of the examples, data, and references to reflect the latest developments and trends in managerial accounting.
How can I access the online resources for Managerial Accounting Asia Global Edition 2e?
You can access the online resources for Managerial Accounting Asia Global Edition 2e by visiting this website: https://www.mheducation.asia/managerial-accounting-asia-global-edition-2-e. You will need to register with your email address and create a password to access the online resources. You will also need to enter a valid access code that comes with your textbook purchase.
How can I get help with Managerial Accounting Asia Global Edition 2e?
If you need help with Managerial Accounting Asia Global Edition 2e, you can contact your instructor or tutor for guidance and feedback. You can also use the online resources, such as videos, news articles, quizzes, solutions, etc., to review and practice your learning. You can also join online forums or groups where you can discuss and share your questions and ideas with other students and experts.
How can I give feedback on Managerial Accounting Asia Global Edition 2e?
If you want to give feedback on Managerial Accounting Asia Global Edition 2e, you can contact the authors or publishers directly via email or social media. You can also write a review or rating on the website where you purchased or downloaded the textbook. Your feedback is valuable and appreciated as it helps the authors and publishers improve their products and services.
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