Managerial Accounting For Dummies (For Dummies (Business & Personal Finance)) [ペーパーバック]

Most of my reviews on Amazon are for "entertainment related" items but - as a CPA and a CFO - I certainly understand finance books. This particular title was sent to me by Amazon as part of their "Vine Reviewer" program in which they send selected books to a selected group of reviewers.

The "Dummies" series has sure grown since 1991 when Dan Gookin authored "DOS for Dummies". There are now over 1800 (!) "... for Dummies" titles.

I've used - and reviewed - quite a few of these books - especially business related and accounting volumes. Some are written by what I call "professional authors" who are not using the subject they are writing about in their daily life. The author of this book - Mark Holtzman is a CPA, with experience in a major CPA firm, but he is also currently a teacher and Chair of the Accounting Department at Seton Hall University, so "teaching" is his business. I also like the idea that doesn't take everything seriously. There is a light humorous touch in his writing when he gives examples. This is not to say that this is a "fun" book (okay the cartoons that head off each chapter ARE funny. And it's not something to read before you go to bed.

As Holtzman says on Page 2 of the Introduction, he is assuming that the reader is:
A college student taking a managerial accounting course who needs help in understanding the concepts
A recent college graduate who is considering a career in managerial (versus financial reporting) accounting.
A professional who wants a refresher course.

If you are one of these - especially one of the first group -, I think you'll find this 334-page book helpful.

Steve Ramm
"Anything Phonographic"

Having disliked the Managerial Accounting class in my MBA program and have never tried a "for Dummies" book before so I was very skeptical about this book. In reality it is great. It takes a very ambiguous subject and makes it clear, fun, and interesting.

If you run a business and want to learn how to administer more control over your organization, then this book may be for you. It is as effective as any Managerial Accounting text I've read and is actually a pretty fast read.

A caution about managerial accounting in general is that it attempts to control people and drive particular outcomes through incentives and basically measuring and incentivizing certain actions. Used appropriately and it can really translate strategy into execution very well. Too often, Managerial Accounting programs are rife with unintended consequences and employee disenfranchisement.

Overall, I recommend this book but use what you learn from it with caution.

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.

CONTENTS:

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
Index