This is an essential tool that enhances a manager's ability to make effective economic decisions. 'Introduction to Management Accounting' describes both theory and common practices so students understand how to produce information that's useful in day-to-day decision making.
I am sure this textbook is fine, but mainly I think textbooks like this one—where there are problems at the back of the chapter to solve and check against a solutions key—are either outdated or poorly written. Like c'mon, I am trying to find the literal steps to set up an activity-based costing system, and I should be able to flip thru the pages, find it clearly by header, "How to Set Up Activity-Based Costing System" and then do it myself. Instead, I spent three weeks feeling so dense and hopeless, though on the plus side, I came into this class expecting to do average. My teacher lectures like an auctioneer, and I had him before, so I knew I was coming in for the anecdotal stories and jokes. At the last minute, before the final exam, I felt like I reached SO MUCH more clarity with the help of YouTube videos. Here is my SOS playlist. If only I had started from the beginning with the videos, would I have done better? If I had access to Khan Academy as a child in grade school, would I have more confidence in math? Sunk cost tangential thoughts :(
If you want to understand the fundamentals and the basics of Accounting this is a must read. Horngren is an eminence in this field, his contributions to the discipline are innumerable.
"Introduction to Management Accounting" by Charles T. Horngren offers a comprehensive exploration of accounting principles for managers. The book presents complex concepts in an accessible manner, making it suitable for both beginners and seasoned professionals. Horngren's clear writing style and practical examples enhance understanding, guiding readers through the intricacies of management accounting with ease. The inclusion of real-world case studies adds relevance, emphasizing the practical application of theories. While the hardcover format ensures durability, the book's true strength lies in its ability to demystify management accounting, making it an invaluable resource for anyone seeking a solid foundation in the subject.
The first book I read about managerial accounting, it's mostly about cost accounting and managerial perspective to the accounting tools and indicators.
This subject covers topics related to accounting, financial analysis, micro-economics, managements and many more. It's a integration of many helpful lessons and topics that are very hard (and costly) to learn in practice and real life.
I think a business manager who doesn't know the lessons in this book is going to have a bad time, and a bankruptcy too!
Managerial accounting is very important to every business-manager.