1 Managerial Accounting 1-1 Accounting Keeps Businesses Afloat 1-1 Managerial Accounting Basics 1-3 Introduction 1-3 Comparing Managerial and Financial Accounting 1-4 Management Functions and Organizational Structures 1-5 Management Functions 1-5 Organizational Structures 1-6 Business Ethics 1-8 Creating Proper Incentives 1-8 Code of Ethical Standards 1-9 Corporate Social Responsibility 1-10 Managerial Accounting Today 1-11 Service Industry Trends 1-11 Value Chain 1-12 Balanced Scorecard 1-15 The Value of Data Analytics 1-16 Data Analytics Insight: The Walt Disney Company 1-16 Accounting Organizations and Professional Accounting Careers in Canada 1-16 2 Managerial Cost Concepts and Cost Behaviour Analysis 2-1 Mining Costs Dig In to Profits 2-1 Managerial Cost Concepts 2-3 Manufacturing Costs 2-3 Prime Costs and Conversion Costs 2-4 Product versus Period Costs 2-5 Illustration of Cost Concepts 2-6 Cost Behaviour Analysis 2-8 Variable Costs 2-9 Fixed Costs 2-9 Relevant Range 2-11 Mixed Costs 2-12 The High-Low Method of Classifying Costs 2-13 Manufacturing Costs in Financial Statements 2-17 Balance Sheet 2-18 Income Statement 2-18 Determining the Cost of Goods Manufactured 2-19 Cost of Goods Manufactured Schedule 2-20 Data Analytics Insight: Tracking Employee Movements 2-21 Appendix 2A: Regression Analysis 2-22 Data Analytics in Action 2-55 3 Job-Order Cost Accounting 3-1 A Pressing Need to Calculate Costs 3-1 Cost Accounting Systems 3-3 Job-Order Cost Systems 3-3 Process Cost Systems 3-4 Job-Order Cost Flow 3-5 Accumulating Manufacturing Costs 3-6 Data Analytics Insight: Autodesk 3-8 Assigning Manufacturing Costs to Work in Process Inventory 3-9 Raw Materials Costs 3-10 Factory Labour Costs 3-12 Predetermined Overhead Rate 3-15 Entries for Jobs Completed and Sold 3-18 Assigning Costs to Finished Goods 3-19 Assigning Costs to Cost of Goods Sold 3-20 Summary of Job-Order Cost Flows 3-20 Job-Order Costing for Service Companies 3-21 Advantages and Disadvantages of Job-Order Costing 3-23 Applied Manufacturing Overhead 3-24 Under-Applied or Over-Applied Manufacturing Overhead 3-24 Data Analytics in Action 3-53 4 Process Cost Accounting 4-1 Business in a Bottle 4-1 The Nature of Process Cost Systems 4-3 Process Costing for Manufacturing Companies 4-3 Process Costing for Service Companies 4-3 Similarities and Differences Between Job-Order Cost and Process Cost Systems 4-4 Operations Costing 4-5 Process Cost Flow and Assigning Costs 4-7 Process Cost Flow 4-7 Assignment of Manufacturing Costs--Journal Entries 4-7 Data Analytics Insight: Analyzing Chemicals Gets a Good Reaction 4-9 Equivalent Units of Production 4-10 Weighted-Average Method 4-11 Refinements on the Weighted-Average Method 4-11 The Production Cost Report 4-13 Calculate the Physical Unit Flow (Step 1) 4-15 Calculate the Equivalent Units of Production (Step 2) 4-15 Calculate the Unit Production Costs (Step 3) 4-16 Prepare a Cost Reconciliation Schedule (Step 4) 4-17 Preparing the Production Cost Report 4-17 Equivalent Units of Production and Production Cost Report--Sequential Process Setting 4-18 Appendix 4A: FIFO Method for Equivalent Units of Production 4-21 Equivalent Units of Production under FIFO 4-22 FIFO and Weighted-Average 4-27 5 Activity-Based Costing 5-1 The ABCs of Tracking Cost 5-1 Traditional Costing versus Activity-Based Costing 5-3 Traditional Costing Systems 5-3 Illustration of a Traditional Costing System 5-3 The Need for a New Approach 5-4 Activity-Based Costing 5-5 Applying an Activity-Based Costing System 5-7 Identify and Classify Activities and Allocate Overhead to Cost Pools (Step 1) 5-8 Identify Cost Drivers (Step 2) 5-8 Calculate Overhead Rates (Step 3) 5-8 Assign Overhead Costs to Products (Step 4) 5-9 Unit Cost Comparison 5-10 Benefits and Limitations of Activity-Based Costing 5-12 Benefits of ABC 5-12 Some Limitations of ABC and Knowing When to Use ABC 5-17 Data Analytics Insight: Delivering People and Packages 5-18 Activity-Based Costing in Service Industries 5-19 Traditional Costing Example 5-19 Activity-Based Costing Example 5-20 6 Decision-Making: Cost-Volume-Profit 6-1 Not Much Room to Move on Price 6-1 Cost-Volume-Profit Analysis, Income Statement, and Contribution Margin 6-3 Basic Components 6-3 Cost-Volume-Profit Income Statement 6-3 Contribution Margin per Unit 6-5 Contribution Margin Ratio 6-6 Break-Even Analysis 6-8 Mathematical Equation 6-8 Contribution Margin Technique 6-9 Graphic Presentation 6-10 Target Operating Income and Margin of Safety 6-11 Target Operating Income before Tax 6-11 Target Operating Income after Tax 6-13 Margin of Safety 6-14 CVP and Data Analytics 6-15 CVP and Changes in the Business Environment 6-16 Sales Mix and Break-Even Sales 6-18 Break-Even Sales in Units 6-18 Data Analytics Insight: Caesars Entertainment: Taking No Chances with Its Profits 6-20 Break-Even Sales in Dollars 6-20 Appendix 6A: Cost Structure and Operating Leverage 6-22 Effect on Contribution Margin Ratio 6-23 Effect on Break-Even Point 6-23 Effect on Margin of Safety Ratio 6-24 Operating Leverage 6-24 Degree of Operating Leverage 6-24 Data Analytics in Action 6-53 7 Incremental Analysis 7-1 Outsourcing Can Be Outstanding 7-1 Decision-Making and the Incremental Analysis Approach 7-3 Management''s Decision-Making Process 7-3 Incremental Analysis Approach 7-4 Special Orders 7-7 Make or Buy 7-8 Opportunity Cost 7-9 Sell or Process Further 7-11 Single-Product Case 7-12 Multiple-Product Case 7-12 Retain or Replace Equipment 7-15 Eliminate an Unprofitable Segment or Product 7-16 Allocate Limited Resources 7-18 8 Alternative Inventory Costing Methods: A Decision-Making Perspective 8-1 Getting to the "Meat" of Inventory Costing 8-2 Inventory Costing Methods 8-3 Illustration Comparing Absorption Costing and Variable Costing 8-3 Net Income Effects 8-7 Decision-Making Concerns 8-11 Performance Evaluation 8-11 Potential Advantages of Variable Costing 8-13 Appendix 8A: Normal-Absorption Costing 8-16 Absorption and Normal-Absorption Costing Illustration 8-17 Appendix 8B: Throughput Costing 8-19 Throughput Costing Illustration 8-20 Advantages of Throughput Costing 8-22 9 Pricing 9-1 The Price Has to Be Right 9-1 Target Costing 9-2 Establishing a Target Cost 9-3 Total Cost-Plus Pricing 9-5 Limitations of Total Cost-Plus Pricing 9-7 Absorption Cost-Plus Pricing 9-8 Variable Cost-Plus Pricing 9-11 Time-and-Material Pricing 9-13 Transfer Pricing for Internal Sales 9-17 Transfer Pricing--An Explanation 9-17 Transfer-Pricing Approaches 9-20 Effect of Outsourcing on Transfer Pricing 9-25 Transfers Between Divisions in Different Countries 9-26 Data Analytics Insight: Setting the Optimal Price 9-27 Data Analytics in Action 9-58 10 Budgetary Planning 10-1 Budgeting for Smooth Skies 10-1 Budgeting Basics and the Master Budget 10-3 Budgets and Accounting 10-3 The Benefits of Budgeting 10-3 Essentials of Effective Budgeting 10-4 Length of the Budget Period 10-4 The Budgeting Process 10-4 Budgeting and Human Behaviour 10-5 Budgeting and Long-Range Planning 10-6 The Master Budget 10-7 Preparing the Sales, Production, and Direct Materials Budgets 10-8 Sales Budget 10-8 Production Budget 10-9 Direct Materials Budget 10-10 Preparing the Direct Labour, Manufacturing Overhead, and S&A Expense Budgets 10-12 Direct Labour Budget 10-13 Manufacturing Overhead Budget 10-13 Selling and Administrative Expenses Budget 10-14 Budgeted Income Statement 10-15 Data Analytics Insight: That''s Some Tasty Data! 10-15 Preparing the Financial Budgets 10-16 Cash Budget 10-17 Budgeted Balance Sheet 10-19 Budgeting in Non-Manufacturing Companies 10-21 Merchandisers 10-21 Service Enterprises 10-22 Not-for-Profit Organizations 10-23 Data Analytics in Action 10-53 11 Budgetary Control and Responsibility Accounting 11-1 Keeping the Budget on Track 11-1 The Concept of Budgetary Control and Static Budget Reports 11-3 Budgetary Control 11-3 Static Budget Reports 11-4 Flexible Budgets 11-7 Why Flexible Budgets? 11-7 Developing the Flexible Budget 11-9 Flexible Budget--A Case Study 11-9 Flexible Budget Reports 11-12 Data Analytics Insight : These Forecasts Move with the Times! 11-13 Responsibility Accounting for Cost and Profit Centres 11-14 The Respon.