Kurt Heisinger, Sierra College
Joe Hoyle, University of Richmond
Copyright Year: 2012
ISBN 13: 9781453345290
Publisher: Saylor Foundation
Conditions of Use
The textbook covers the all the major concepts of managerial accounting. Although they are followed in a slightly different way and order than are pursued in the textbook I am currently using. I found the book easy to follow; however, a number of... read more
The textbook covers the all the major concepts of managerial accounting. Although they are followed in a slightly different way and order than are pursued in the textbook I am currently using. I found the book easy to follow; however, a number of concepts could have been stretched further, such as, First-in-first-out method for Process Costing in Chapter 4, Lease or sell decision and replacing an old equipment with a new one etc. in Chapter 7 and Budgeting for merchandising organizations in Chapter 9 are some examples to mention. Inclusion of Table of Contents in the PDF version would have assisted with the reviewing of the textbook. A comprehensive list of learning objective would be useful at the beginning of each chapter. In addition, inclusion of an index/glossary would have been really helpful for quick search.
The definitions are comprehensive. I have randomly checked a number of problems for mathematical accuracy and found no errors. However, I was wondering if the answers for the end of the chapter exercises are also available to the reviewers for establishing the accuracy.
In terms of contents, the textbook covered all the major concepts of managerial accounting and hence, remain relevant for a considerable period of time. However, there are scopes for adding more examples and recent business phenomena and reference to current information technology.
The book is easy reading. I really like the introduction of each chapter, which starts with a business scenario in the form of dialogues that raises a particular management issue and then points out the necessity of learning the managerial accounting concepts covered in that chapter to solve such issue.
The text is consistent in terms of terminology and organization format.
Splitting each concepts into smaller chunks/sections supplemented by relevant questions and answers and examples would make the reading easy to the students.
The topics in the text are presented in a logical and workable manner.
Throughout the book, spaces are omitted between the words in the "Key equation" boxes in the PDF version, which may confuse the reader. Some of the tables are hazy and interferes with the reading.
I have not noticed any grammatical errors.
I have not perceived any culturally insensitive content or example in any way.
I greatly appreciate the effort of the authors in completing this book and making it available to students at no charge.
Comprehensive introduction to the key concepts and methodologies of costing, including budgeting, cash flow forecasting, decision analysis, performance evaluation, and non financial measures. read more
Comprehensive introduction to the key concepts and methodologies of costing, including budgeting, cash flow forecasting, decision analysis, performance evaluation, and non financial measures.
Lots of examples and no mathematical errors were noted.
Good examples of how concepts are actually used, and the impact on financial statements.
Good definitions and and thought-provoking questions to strengthen understanding of the concepts.
Concepts build upon each other and are sequentially introduced.
Well tagged and compartmentalized.
Fair organization. It would help if the answers to problems or exercises were on a different page or indexed in the back of the book.
The tables in the pdf version are completely illegible and blurred, even when you zoom in. The online version is better.
None were obvious.
People (professionals) referenced in the examples were gender neutral with a representative balance.
I am not appreciating the muted green and blue shadings on all the tables and exercise problems. It makes it difficult to read. The fonts on some of the tables and exercise problems are entirely too small. The introduction and explanation of the concepts are fairly well done and they make good use of challenges faced by contemporary companies.
There is no glossary or index included, which would assist greatly with quick referencing of the information. However, the table of contents presents a comprehensive detailed overview of the book's chapters and related sections. The material... read more
There is no glossary or index included, which would assist greatly with quick referencing of the information. However, the table of contents presents a comprehensive detailed overview of the book's chapters and related sections. The material coverage is as complete as the book I currently use, though presented in a slightly different order. This does not reduce the effectiveness of the information. I enjoyed seeing the review problems after each chapter section rather than all at the end of the chapter. I think students might be more likely to work the review problems in this manner as the questions appear more relevant when presented right after the applicable information. The key takeaways are also nice as they seem to reinforce the learning objectives. Overall, I think the book is effective for the purpose of an Introduction to Managerial Accounting.
The information appears accurate. No errors noted.
The material in this book appears relevant and consistent with other managerial textbooks. This type of information does not change frequently. The book should be easy to update should changes become necessary.
The information is clear with easy to follow examples and problems. The simple writing of this textbook helps reduce cognitive overload.
The book follows a logical pattern in presenting the topical information, though slightly different from how I currently teach managerial accounting. Terminology and layout is consistent throughout the textbook.
I appreciate the subheadings with the key takeaways and review problem after each chapter sub-section. The flow allows a simple way to ensure the learning objectives have been met. Each chapter is comprehensive enough to stand-alone.
Text is organized logically and has good information flow. Easy to follow and understand.
I reviewed the online book and noticed spacing issues that were a bit distracting. I think the example sections should have a brighter background color scheme. The gray is boring and looks dull. Some of the more compressed pictures were not completely clear. Overall, the images are decent.
No grammatical errors noted.
The textbook is culturally neutral.
Given that the book covers the same material as my current managerial text but without the steep cost, I will strongly consider switching to this text. I appreciate the open availability of this book.
The contents of this book are very comprehensive and comparable to other Managerial Accounting texts I have used in the past from major publishers. All of the major subjects I expected to find in an introductory managerial text were listed. There... read more
The contents of this book are very comprehensive and comparable to other Managerial Accounting texts I have used in the past from major publishers. All of the major subjects I expected to find in an introductory managerial text were listed. There were some subject areas that I felt could have been expanded, particularly with more introductory/context-building information, but overall, everything is included. The table of contents was organized in a clear, logical progression. The table of contents is missing from the pdf version of the text, but included in the online version; this is not a big draw back since the content could be covered "out of order" in a course, or students could be directed to the specific pages to read. One thing I would like to see is some expansion of the learning objectives. Objectives are included in the text at the beginning of a section, but they are all numbered "1" and are not summarized anywhere. Other reviewers have mentioned the lack of index/glossary.
I recalculated several of the chapter example problems and found no errors. There are no solutions provided for end-of-chapter exercises, so those could not be checked.
The content included in an introductory managerial accounting course does not change substantially annually. I believe this text will remain relevant for a while. Another reviewer mentioned that there may be a need to update some of the example companies after a while.
Overall, most of the text is very concise. Sentences are not overly long, and the language used is a good blend of technical vocabulary that the student should become accustomed to, and layperson terms. I think this is an advantage of this text - most students dislike having to "wade through" a lot of dense writing to get to the point of the chapter or section.
The text uses vocabulary consistently throughout. The structure of chapters, practice problems, examples, all follow a consistent pattern. See numbering of learning objectives comment above.
This is another advantage of this text - the concise presentation of most of the topics make it easy to subdivide and reorder.
This is largely addressed in the "comprehensiveness" section. Very clear, logical progression through the content.
The online version was much easier to navigate than the pdf. There were a lot of formatting issues in the pdf that made it distracting to my eye at times (uneven highlighting, indenting, spacing, some graphics were blurry). A lot of these issues could be alleviated by recompiling parts of the text into an LMS learning tool (such as a Moodle Book), or webpage.
While there are many spacing issues throughout (which could be attributed to formatting), I did not find any significant grammatical errors.
I did not find any part of the text culturally insensitive or offensive. It could expand on some of the illustrative examples to include multi-cultural products and/or company names.
I think this text is a good starting point for OER content for an introductory managerial accounting course. I would not be comfortable relying solely on this text for content - there is not enough contextualization nor enough visual aids for some of the material.
The text "Managerial Accounting" provides a comprehensive and broad review of the major topics usually covered in an introductory Managerial Accounting course. There is no index. New terms are explained well in the text when they are first... read more
The text "Managerial Accounting" provides a comprehensive and broad review of the major topics usually covered in an introductory Managerial Accounting course. There is no index. New terms are explained well in the text when they are first introduced. There is no Table of Contents in the downloadable PDF but a Table of Contents is available at the Open Textbook Library (OTL) webpage where one would download the text. I do use this text in my teaching and I refer students to the OTL Table of Contents.
I have not discovered any errors in the text. I have used this text for several semesters.
The content of the book is excellent for an introductory course. I suspect most professors will bring in supplemental, current examples to compliment the generalized examples in the text. Nevertheless, the text's examples are sufficient and illustrative.
My students find the text accessible and useful. For me, that is the single best measure of any text's clarity.
Examples used in the chapter text lend themselves to being used a guides when students work on assigned problems from the end every chapter. I am quite satisfied with the text's internal consistency.
This text is very easily divided (or reordered) into modules to suit different teaching objectives. I teach several of the chapters "out of order" so that I bring in some concepts early in the semester.
The text topics are presented in a logical fashion (but, as noted above, one can easily reorder several of the chapters to suit individual teaching needs).
The PDF file is easy to scroll through and clearly organized.
I found no grammatical errors in the text.
I found no parts of the text to be culturally insensitive.
I think it is wonderful that this text is available to students at no charge. I appreciate the generosity of the authors in making this possible.
Differences between managerial and financial accounting seems to be abbreviated in chapter 1. Trends such as lean operations, social responsibility, sustainability or global marketplace not included. Overall very complete. read more
Differences between managerial and financial accounting seems to be abbreviated in chapter 1. Trends such as lean operations, social responsibility, sustainability or global marketplace not included. Overall very complete.
No biases detected.
Sections of book were clearly identified and coverage seemed to flow consistently.
Good use of real world examples.
Terminology was used consistently throughout the textbook.
Some sections/chapters seemed long. Could possibly be condensed but could be easily adapted to content coverage in the course.
Good job on organization of book.
No issues with the book's interface. Charts were clear and readable.
Pg. 12 - First paragraph needs space between words (This is the planning function). Pg 15 -Managerial Accountant paragraph needs space after term cost accountant. Pg. 28 - spacing in answer is incorrect, I noticed spacing issues throughout the textbook.
I didn't find any culturally insensitive or offensive material.
The textbook would be more than adequate for a lower level course in managerial accounting. Some content that could have been included is information about the global marketplace and lean accounting techniques.
The text provides a comprehensive course in Managerial Accounting. All Managerial Accounting topics that would typically be covered in an Accounting II course are also covered. The text does not cover the Financial Accounting topics that would... read more
The text provides a comprehensive course in Managerial Accounting. All Managerial Accounting topics that would typically be covered in an Accounting II course are also covered. The text does not cover the Financial Accounting topics that would typically be covered in an Accounting II course---but that is not an objective of the book. The text could stand alone as the sole text for a course in pure Managerial Accounting. Alternatively, the book could serve to cover the Managerial Accounting topics in a typical Accounting II course. The text lacks an index or glossary. While these would be desirable, this is not a huge shortcoming for this particular subject matter. The lack of a Table of Contents or chapter listing within the PDF of the book itself is an issue.
Coverage of the content appeared to be accurate, unbiased, and consistent with current Managerial Accounting principles. While I did not review every example or problem, I noted no errors.
The material covered is completely relevant to current Managerial Accounting thinking. These concepts should not change dramatically, so in terms of concepts the text should remain relevant. Some of the case studies may not age as well and could eventually date the book, but this is a hazard in any business text. Some of the discussions of information technology solutions might not remain relevant either.
This is a strong point of the book. I really appreciated the less formal, less dense style. Managerial Accounting students can be discouraged by the tendency of their textbook to be overly laden with jargon and numeric calculations. While the book does provide the required terminology and numeric examples, it is much more readable than a typical textbook in the field.
The text was consistent in its approach both stylistically and conceptually.
The text’s divisibility was another strong point. Using some previously presented information is inevitable in a Managerial Accounting class; however, many of the individual chapters could be presented on a stand-alone basis with some instructor introduction. Using individual chapters in a modular fashion would also be particularly attractive if the text was being used as supplemental text for a typical Accounting II course. Specific chapters relating to Managerial topics could be used as supplementary material in an Accounting II course.
I noted no issues with organization or structure, and the ordering of topics appears reasonable. The author's sequence is not identical to what I am used to teaching, but it appears logical, workable and perhaps superior. This also speaks to the book’s modularity, as it is possible to present these topics in a different order if needed.
The lack of a Table of Contents hinders navigation. Some of the smaller graphics/charts were hard to read on my display. The larger graphics had a fuzziness to them compared to the standard text. I observed some unusual omitted spaces, but that was possibly a function of my specific PDF viewer. Generally the book can be navigated as easily any PDF.
I noted no egregious errors.
The text is as successful at being culturally relevant as a Managerial Accounting text could be. The subject matter does not lend itself to promoting diversity nor to generating content that is offensive or controversial.
A student could encounter this book as the sole text in a Managerial Accounting course, as a text that covers Managerial Accounting topics in an Accounting II class, or as a supplementary text using selected chapters to cover special topics. In all of these cases the student would have a quality educational resource.
The book covers all I need and more. In fact I will probably use Ch 8 to supplement my Engineering Economics class. This text covers types of costs, contribution margin, product costing (ABC, process and job), absorption costing, standard... read more
<p> The book covers all I need and more. In fact I will probably use Ch 8 to supplement my Engineering Economics class. This text covers types of costs, contribution margin, product costing (ABC, process and job), absorption costing, standard costs, variance analysis, budgeting (capital and operating), Financial statement analysis (all 3) and ratio analysis, ethics and sensitivity anlaysis sprinkled throughout. There is no index/glossary or even a lead in listing of chapters.. that would be a helpful add. I had the chapter titles listed in the "about" doc so could tell where I was going.</p>
<p> Obviously I didn't look at every example or problem but the ones I did were correct. On page 478 the formula should be Fn*(1+r)^-n.... it currently reads Fn*(1+r)*n</p>
<p> Great... excellent organization in my opinion. The only "relevance" issue might be the companies used as examples are great for today, might not be in 10 years. But for the most part they are very well known (I think with college age students as well) so most likely helps peak interest.</p>
<p> Great.. I love the introduction with the Q&A from an actual business scenario and how answering those questions are what drives the chapter/section. The break down of topics is very readable/digestable in small doses.</p>
<p> Yes... reference comments in "clarity" section. I also appreciated the reference to earlier sections, that helps to intregrate the material for the reader (in my opinion).</p>
<p> Yes... great "chunks" of information and each chunk supplemented with problems and relevance to well known and interesting companies.</p>
<p> Yes... see "modularity". I am happy with the organization of chapters, I could see some re-arrangement. But I think that's a matter of personal preference not impacting the learning experience for the student.</p>
<p> Some of the images are blurry (alot of the tables/forms with the green background), most are readable but a few are not. The margin/indentations could use some organization. I didn't see any spelling errors but sometimes words are scrunched together (no space where there should be some).</p>
<p> None that I noticed.</p>
<p> It would be a little difficult for this topic to be culturally offensive (I think). The choice of companies for examples were very neutral (in my opinion) and easily and non-offensively cut across race/gender/ethnicity/etc... The choice of companies for examples seem very relevent in help increase interest in the subject matter.</p>
<p> I think it's great and will plan to incorporate it next time I teach my Industrial Cost & Controls (aka Managerial Finance) class. At this review I prefer this text to the one I've been using.</p>
Table of Contents
- Chapter 1: What Is Managerial Accounting?
- Chapter 2: How Is Job Costing Used to Track Production Costs?
- Chapter 3: How Does an Organization Use Activity-Based Costing to Allocate Overhead Costs?
- Chapter 4: How Is Process Costing Used to Track Production Costs?
- Chapter 5: How Do Organizations Identify Cost Behavior Patterns?
- Chapter 6: How Is Cost-Volume-Profit Analysis Used for Decision Making?
- Chapter 7: How Are Relevant Revenues and Costs Used to Make Decisions?
- Chapter 8: How Is Capital Budgeting Used to Make Decisions?
- Chapter 9: How Are Operating Budgets Created?
- Chapter 10: How Do Managers Evaluate Performance Using Cost Variance Analysis?
- Chapter 11: How Do Managers Evaluate Performance in Decentralized Organizations?
- Chapter 12: How Is the Statement of Cash Flows Prepared and Used?
- Chapter 13: How Do Managers Use Financial and Nonfinancial Performance Measures?
About the Book
Kurt Heisinger and Joe Ben Hoyle believe that students want to learn accounting in the most efficient way possible, balancing coursework with personal schedules. They tend to focus on their studies in short intense segments between jobs, classes, and family commitments. Meanwhile, the accounting industry has endured dramatic shifts since the collapse of Enron and WorldCom, causing a renewed focus on ethical behavior in accounting. This dynamic author team designed Managerial Accounting to work within the confines of today's students' lives while delivering a modern look at managerial accounting.
Managerial Accounting was written around three major themes: Ready, Reinforcement and Relevance. This book is aimed squarely at the new learning styles evident with today's students and addresses accounting industry changes as well.
Ready. Your students want to be as efficient as possible in their learning. This book adopts a concise, jargon-free, and easy-to-understand approach that is ready with concise sections and concepts when the student is ready to study in a format the student wants. Key concepts are provided in short segments with bullet points and step-by-step instructions to simplify concepts. This thoughtful, step-wise approach will help your students avoid distractions and focuses attention on the big picture.
Reinforcement. Managerial Accounting boasts “Review Problems” at the end of each major section or learning objective which offer practical opportunities for students to apply what they have learned. These “Review Problems” allow students to immediately reinforce what they have learned and are provided within the body of the chapter along with the solutions.
Relevance. Why is managerial accounting important? Since all students perform better when they can answer the “why” question, meaningful references to companies throughout the chapters help students tie the concepts presented in each chapter to real organizations. In addition, realistic managerial scenarios present an issue that must be addressed by the management accountant. These will pique your students' interest and were designed to show how issues can be resolved using the concepts presented in the chapter. Finally, “Business in Action” features in Managerial Accounting link managerial decision-making to real business decisions to help your students complete the learning cycle from concept, to accounting decision, to real-world application.
Managerial Accounting by Heisinger and Hoyle also contains a handful of other pedagogical aids to compliment your lectures and help your students come to class prepared. From a focus on decision-making, to end of chapter materials that can only be characterized as very deep and very wide, to ethics coverage, group projects and spreadsheet applications—these features allow you to teach the course you want to teach and assign the materials you like to assign.
About the Contributors
Kurt Heisinger (CMA, CPA, MBA) teaches financial and managerial accounting full time and holds a tenured position at Sierra College. He recently received the 2011–12 Faculty of the Year award, which was voted on and presented by the Associated Students of Sierra College. Kurt has also taught accounting classes at the University of California—Davis and American River College.
Kurt began his career in public accounting with Ernst & Young and continued as a manager of a large local accounting firm in California. He received his MBA at the University of California—Davis and is currently a certified management accountant (CMA) and certified public accountant (CPA). The knowledge Kurt gained from his seven years in industry and more than 15 years in education has enabled him to write a clear and concise book filled with real world examples.
Joe Hoyle is an associate professor of accounting at the Robins School of Business at the University of Richmond. In 2006, he was named by BusinessWeek as one of 26 favorite undergraduate business professors in the United States. In 2007, he was selected as the Virginia Professor of the Year by the Carnegie Foundation for the Advancement of Teaching and the Council for the Advancement and Support of Education. In 2009, he was judged to be one of the 100 most influential members of the accounting profession by Accounting Today.
Joe has two market-leading textbooks published with McGraw-Hill—Advanced Accounting (eleventh edition, 2012) and Essentials of Advanced Accounting (fifth edition, 2012), both coauthored with Tom Schaefer of the University of Notre Dame and Tim Doupnik of the University of South Carolina.
At the Robins School of Business, Joe teaches fundamentals of financial accounting, intermediate financial accounting I, intermediate financial accounting II, and advanced financial accounting. He earned his BA degree in accounting from Duke University and his MA degree in business and economics, with a minor in education, from Appalachian State University. He has written numerous articles and continues to make many presentations around the country on teaching excellence.