Horngren's Financial & Managerial Accounting, The Managerial Chapters, Global Edition

For courses in financial and managerial accounting.

Horngren's Financial and Managerial Accounting, The Managerial Chapters presents the core content of principles of accounting courses in a fresh format designed to help today's learners succeed. As teachers first, the author team knows the importance of delivering a student experience free of obstacles. Their pedagogy and content uses leading methods in teaching students critical foundational and emerging topics (e.g., data analytics and employability skills) in the field of accounting, and concentrates on improving student results - all tested in class by the authors themselves. With this in mind, the 7th Edition continues to focus on readability and student comprehension and takes this a step further by employing a new theme to help students see how accounting is used as a tool to help businesses make decisions. By providing more meaningful learning tools, this title gives professors the resources needed to help students clear hurdles inside and outside of the classroom, like never before.

• Chapter Openers present relatable stories that set up the concepts to be covered in the chapter. Students then learn the implications of those concepts on a company's reporting and decision-making processes.
• Common Questions, Answered is rooted in the authors' teaching experiences over the years, and offers additional help with patterns and rules that consistently confuse students. Located in the text's margin next to where the answer or clarification can be found, they help students better understand difficult concepts.
• Instructor Tips & Tricks throughout the text mimic the experience of having an experienced teacher walk a student through concepts on the board. Many include mnemonic devices or examples to help students remember the rules of accounting.
• Effects on the Accounting Equation illustrations help students see connections between transactions, as well as how transactions fit into the bigger picture. Located next to every journal entry, they reinforce the connections between recording a transaction and the effect those transactions have on the accounting equation.
• Try It! boxes found after each learning objective and at the end of the chapter give students the opportunity to apply the concepts they've just learned by completing an accounting problem.
• Things You Should Know provide students with a brief review of each learning objective presented in a question and answer format, helping to prepare them for exams.
• Decisions Boxes highlight common questions that business owners face, prompting students to determine the course of action they would take based on concepts covered in the chapter.
• Comprehensive Problems, located in select interrelated chapters, help students make connections between topics.
  • Chapters 1-5 discusses fundamental managerial accounting concepts: job ordering, process costing, cost management systems, and cost-volume-profit analysis.
  • Chapters 7-9 explores planning and control decisions for a manufacturing company, including a master budget, flexible budget, variance analysis, and performance evaluation.
  • Chapters 10-11 reviews decision making, both short-term business decisions and capital budgeting decisions

• Data and research, including any years and numbers as they relate to real companies (such as Kohl's and Target), ensures students have relevant examples to help them engage with the course.
• Discussions of important concepts and calculations help students to better understand the material. They include:
  • Chapter 1 'Introduction to Managerial Accounting' offers updated info on the IMA Statement of Ethical Professional Practices to reflect changes made by IMA on July 1, 2017.
  • Chapter 2 'Job Order Costing' has a new Learning Objective for calculating Cost of Goods Manufactured and Cost of Goods Sold for easier teaching, learning, and assessment activities.
  • Chapter 8 'Flexible Budgets and Standard Cost Systems' includes updated direct materials calculations (i.e., cost vs. efficiency variance), so that inputs do not equal outputs.
• Employability coverage throughout the text looks at professional certifications that management accountants can obtain, such as Certified Management Accountant (CMA) and Chartered Global Management Accountant (CGMA), and highlights the importance of these credentials in today's job market.
• Data Analytics in Accounting features highlight real companies that are now using data analytics to track inventory, monitor cash flow, forecast sales, and maximise profits. Also discussed are advances in technology, including robotic process automation and artificial intelligence, and how they relate to the work management accountants perform.
• Key Terms focus on the concepts central to students' learning, including Lean Management System, Relevant and Irrelevant Revenue, and more.
• Check Your Understanding boxes let students gauge their comprehension of the material and have been updated to include new accounts introduced under the Revenue Recognition Standard.
• Tying It All Together boxes tie together key concepts from the chapter using the company highlighted in the chapter opener. The in-chapter box presents scenarios and questions that the company could face and focuses on the decision-making process. The end-of-chapter business case helps students synthesise the concepts of the chapter and reinforce critical thinking. Updates to the 7th edition includes discussion of how companies are using zero-based budgeting (chapter 7).
• End-of-chapter problems and exercises help students build skills to analyse and interpret information and apply reasoning and logic to new or unfamiliar ideas and situations. Updates include:
  • an exercise on the triple bottom line (chapter 1).
  • an exercise on completing job cost sheets (chapter 2).
  • updated labor costs to $10 per hour (chapter 8).

Tracie L.Miller-Nobles, CPA, received her bachelor’s and master’s degrees in accountingfrom Texas A&M University and is currently pursuing her PhD in adultlearning also at Texas A&M University. She is an Associate Professor atAustin Community College, Austin, TX. Previously she served as a SeniorLecturer at Texas State University, San Marcos, TX, and has served asdepartment chair of the Accounting, Business, Computer Information Systems, andMarketing/Management department at Aims Community College, Greeley, CO. Inaddition, Miller-Nobles has taught as an adjunct professor at University ofTexas and has public accounting experience with Deloitte Tax LLP and Sample& Bailey, CPAs.

Miller-Nobles is arecipient of the Texas Society of CPAs Rising Star Award, TSCPAs OutstandingAccounting Educator Award, NISOD Teaching Excellence Award and the AimsCommunity College Excellence in Teaching Award. She is a member of the Teachersof Accounting at Two Year Colleges, the American Accounting Association, theAmerican Institute of Certified Public Accountants, and the Texas State Societyof Certified Public Accountants. She is currently serving on the Board ofDirectors as secretary/webmaster of Teachers of Accounting at Two YearColleges, as a member of the American Institute of Certified Public Accountantsnominations committee, and as chair of the Texas Society of CPAs Relations withEducation Institutions committee. In addition, Miller-Nobles served on theCommission on Accounting Higher Education: Pathways to a Profession.

She has spoken on suchtopics as using technology in the classroom, motivating non-business majors tolearn accounting, and incorporating active learning in the classroom atnumerous conferences. In her spare time she enjoys spending time with herfriends and family and camping, kayaking, and quilting.

Brenda L.Mattison hasa bachelor’s degree in education and a master’s degree in accounting, both fromClemson University. She is currently an Accounting Instructor at Tri-CountyTechnical College in Pendleton, South Carolina. Mattison previously served asAccounting Program Coordinator at TCTC and has prior experience teachingaccounting at Robeson Community College, Lumberton, North Carolina; Universityof South Carolina Upstate, Spartanburg, South Carolina; and Rasmussen BusinessCollege, Eagan, Minnesota. She also has accounting work experience in retailand manufacturing businesses.

Mattison is a memberof Teachers of Accounting at Two Year Colleges and the American AccountingAssociation. She is currently serving on the board of directors as VicePresident of Conference Administration of Teachers of Accounting at Two YearColleges.

Mattison previouslyserved as Faculty Fellow at Tri-County Technical College. She has presented atseveral conferences on topics including active learning, course development,and student engagement.

In her spare time,Mattison enjoys reading and spending time with her family. She is also anactive volunteer in the community, serving her church and other organizations.

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