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Managerial Accounting For Dummies


Learn to:

  • Interpret accounting information for managerial decision-making
  • Discover the basic concepts, terminology, and methods in managerial accounting
  • Score your highest in a managerial accounting course

The easy way to master a managerial accounting course

Are you enrolled in a managerial accounting class and finding yourself struggling? Fear not! Managerial Accounting For Dummies is the go-to study guide to help you easily master the concepts of this challenging course. You'll discover the basic concepts, terminology, and methods to identify, measure, analyze, interpret, and communicate information in the pursuit of an organization's goals.

  • Managerial Accounting 101 — get a taste of what managerial accounting is, why it's important, and the important aspects of accounting that every businessperson needs to know
  • The world of costs — discover the nature of different kinds of costs, how they behave, and how they flow through a business's operations
  • Put the "I" in decision-making — find out how to use cost information to make decisions, such as whether to buy equipment, which products to make, and how to set prices
  • Back to the future — get the 4-1-1 on the important role managerial accountants play in planning and budgeting for the future
  • Take control — understand how managerial accountants monitor a company's performance to identify and address problems before they become crises

Open the book and find:

  • The role managerial accounting plays in business
  • Key tools and concepts needed to communicate accounting information
  • Examples illustrating terms, concepts, and formulas
  • Foundational information about business, management, and decision-making
  • Ten key managerial accounting formulas
  • Financial statement ratios to know

Mark P. Holtzman, PhD, CPA, is Chair of the Department of Accounting and Taxation at Seton Hall University. He has taught accounting at the college level for 17 years and runs the Accountinator website at, which gives practical accounting advice to entrepreneurs.

Introduction 1

Part I: Introducing Managerial Accounting 7

Chapter 1: The Role of Managerial Accounting 9

Chapter 2: Using Managerial Accounting in Your Business 29

Part II: Understanding and Managing Costs 43

Chapter 3: Classifying Costs 45

Chapter 4: Figuring Cost of Goods Manufactured and Sold 57

Chapter 5: Teaching Costs to Behave: Variable and Fixed Costs 69

Chapter 6: Allocating Overhead 89

Chapter 7: Job Order Costing: Having It Your Way 105

Chapter 8: Process Costing: Get In Line 121

Part III: Using Costing Techniques for Decision-Making 145

Chapter 9: Straight to the Bottom Line: Examining Contribution Margin 147

Chapter 10: Capital Budgeting: Should You Buy That? 165

Chapter 11: Reality Check: Making and Selling More than One Product 179

Chapter 12: The Price Is Right: Knowing How Much to Charge 191

Chapter 13: Spreading the Wealth with Transfer Prices 203

Part IV: Planning and Budgeting 217

Chapter 14: Master Budgets: Planning for the Future 219

Chapter 15: Flexing Your Budget: When Plans Change 237

Part V: Using Managerial Accounting for Evaluation and Control 245

Chapter 16: Responsibility Accounting 247

Chapter 17: Variance Analysis: To Tell the Truth 259

Chapter 18: The Balanced Scorecard: Reviewing Your Business’s Report Card 279

Chapter 19: Using the Theory of Constraints to Squeeze Out of a Tight Spot 293

Part VI: The Part of Tens 301

Chapter 20: Ten Key Managerial Accounting Formulas 303

Chapter 21: Ten Careers in Managerial Accounting 311

Chapter 22: Ten Legends of Managerial Accounting 315

Index 319