No, managerial accounting (management accounting) isn't what your regular CPA does. Of course if you are looking at this book, you are probably very much aware of what a managerial accountant does for a living. Rather than focus outwardly preparing reports that make the public and the IRS aware of what's going on in the company, the managerial accountant does a lot of analyzing, evaluation, and "planning and budgeting for the future" of a business. In other words, if you want your company to succeed, you have to have someone on board who will help you achieve your goals. A managerial accountant is that rare breed who will do just that.
In the "Dummies" books there are usually a few assumptions and this book is no exception. Primarily books like these are geared toward students who are currently taking a managerial course or plan to in the future. Other interested parties may include people who would like to brush up on the subject, business or entrepreneurs, or those who need certification for their career. Whatever the motivation, this book is packed with information that will benefit anyone interested in managerial accounting.
The book itself is not progressive, but rather one in which you can focus on a particular topic or topics you are interested in. Any newbies to managerial accounting would do well to work with the book from start to finish. The book is generously illustrated with charts, graphs, formulas, and numerous informative sidebars. For example, one sidebar differentiates several companies as to whether they are service, retail, or manufacturing.
Each chapter is prefaced by bullet points outlining what is in the chapter and a brief commentary and overview of it. You'll find several icons in this book that point out tips, things you'll want to remember, technical stuff, examples, and some that offer up a few cautionary notes This is an excellent reference that will help anyone out who is currently taking a managerial accounting course or plans to in the future. The material is clear, concise, and very user-friendly.
Part I: Introducing Managerial Accounting
Chapter 1: The Role of Managerial Accounting
Chapter 2: Using Managerial Accounting in Your Business
Part II: Understanding and Managing Costs
Chapter 3: Classifying Costs
Chapter 4: Figuring Cost of Goods Manufactured and Sold
Chapter 5: Teaching Costs to Behave: Variable and Fixed Costs
Chapter 6: Allocating Overhead
Chapter 7: Job Order Costing: Having It Your Way
Chapter 8: Process Costing: Get In Line
Part III: Using Costing Techniques for Decision-Making
Chapter 9: Straight to the Bottom Line: Examining Contribution Margin
Chapter 10: Capital Budgeting: Should You Buy That?
Chapter 11: Reality Check: Making and Selling More than One Product
Chapter 12: The Price Is Right: Knowing How Much to Charge
Chapter 13: Spreading the Wealth with Transfer Prices
Part IV: Planning and Budgeting
Chapter 14: Master Budgets: Planning for the Future
Chapter 15: Flexing Your Budget: When Plans Change
Part V: Using Managerial Accounting for Evaluation and Control
Chapter 16: Responsibility Accounting
Chapter 17: Variance Analysis: To Tell the Truth
Chapter 18: The Balanced Scorecard: Reviewing Your Business's Report Card
Chapter 19: Using the Theory of Constraints to Squeeze Out of a Tight Spot
Part VI: The Part of Tens
Chapter 20: Ten Key Managerial Accounting Formulas
Chapter 21: Ten Careers in Managerial Accounting
Chapter 22: Ten Legends of Managerial Accounting