Pdf Book Name: Managerial Accounting 15th Edition
Author: Tayler, William B., Warren, Carl S
ISBN-10, 13: 9781337912020,1337912026
Pages: 881 Pages
File size: 29 MB
File format: PDF,EPUB
Managerial Accounting 15th Edition Pdf Book Description:
Warren/Tayler Managerial Accounting, 15e, provides a sound pedagogy for giving students a solid foundation in managerial accounting. Warren/Tayler covers the fundamentals AND motivates students to learn by showing how accounting is important to businesses. Students often struggle to understand how concepts relate to one another. For most students, an introductory accounting course is their first exposure to both business transactions and the accounting system. While these concepts are already difficult to master individually, their combination and interdependency in the introductory accounting course often pose a challenge for students. The many enhancements to this edition of Managerial Accounting are the direct result of reviews, surveys, and focus groups with instructors at institutions across the country. We would like to take this opportunity to thank those who have helped us better understand the challenge of the financial accounting course and provided valuable feedback on our content and digital assets. Managers make numerous decisions during the day-to-day operations of a business and in planning for the future. Managerial accounting provides much of the information used for these decisions.
Financial accounting information is reported at fixed intervals (monthly, quarterly, yearly) in general-purpose financial statements. These financial statement the income statement, statement of stockholders’ equity, balance sheet, and statement of cash flows are prepared according to generally accepted accounting principles (GAAP). Managers of a company also use general-purpose financial statements. For example, in planning future operations, managers often begin by evaluating the current income statement and statement of cash flows. While no two company structures are identical, most large companies are organized in terms of “verticals” and “horizontals.” Verticals are sometimes referred to as business units, because they are often structured as separate businesses within the parent company. These verticals normally develop products that are sold directly to customers. Verticals prepare their own income statements, also referred to as profit and loss (P&L) statements, which report their ongoing performance and profitability. Horizontals are departments within the company that are not responsible for developing products. The role of horizontals is to provide services to the various verticals and other horizontals. As such, horizontals do not report profit and loss (P&L) statements. Marketing, human resources, information technology, legal, facilities, accounting, and finance are normally horizontal departments within a company. Managerial accounting supports managers in all phases of the management process. For example, accounting reports comparing actual and expected operating results help managers plan and improve current operations. Such a report might compare the actual and expected costs of defective materials. If the cost of defective materials is unusually high, management might decide to change suppliers.
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