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About the book Use the most current information to prepare students for their field· Emphasis on Global Issues reflect today's increasingly global business environment, including:· The importance of joint cost allocation in creating a trade war between poultry farms in South Africa and the United States (Chapter 16).· The text's examples of management accounting applications in companies are drawn from international settings.· Focus on merchandising and service sectors (versus traditional manufacturing settings)highlight the shifts in the US and world economies, including:· Several Concepts in Action boxes focus on the merchandising and service sectors, including achieving cost leadership at Trader Joes, using activity-based costing to reduce the costs of health care delivery at the Mayo Clinic (Chapter 5), reducing fixed costs at Twitter (Chapter 2), and analyzing operating income performance at Best Buy (Chapter 12) and web-based budgeting at 24 Hour Fitness.· Emphasis on sustainability as one of the critical managerial challenges of the coming decades, including:· Material that stress themes of recognizing and accounting for environmental costs, energy independence and the smart grid, setting stretch targets to motivate greater carbon reductions, using cost analysis, carbon tax, and cap-and-trade auctions to reduce environmental footprints, and constructing “green” homes in a cost-effective manner.· More focus on the role of accounting concepts and systems in fostering and supporting innovation and entrepreneurial activities in firms including:· The challenges posed by recognizing R&D costs as period expenses even though the benefits of innovation accrue in later periods.· How companies budget for innovation expenses and develop measures to monitor success of the innovation efforts delinked from operational performance in the current period (Chapter 6).· The importance of nonfinancial measures when making decisions about innovation (Chapter 11).· The concept that innovation starts with understanding customer needs (Chapter 13).· Process innovations for improving quality (Chapter 19).· Cutting-edge topics are covered, including:· Material around recent trends in big data and data analytics in predicting costs and when making demand forecasts. Provide a solid presentation of accounting hallmarks with a great emphasis on strategy· Strategy maps are presented as a useful tool to implement the balanced scorecard and a simplified presentation of how income statements of companies can be analyzed from the strategic perspective of product differentiation or cost leadership. A new section helps students evaluate strategy maps such as the strength of links, differentiators, focal points and trigger points.· Try It examples are simple and focus on key ideas or concepts. They are located after a particular concept or calculation, and invite students to practice what they have just learned.· Becker Multiple Choice Questions in the assignment material probe students'knowledge of the chapter material and their ability to think critically about key concepts. · Opening Vignettes. Each chapter opens with a vignette on a real company situation. Th

For undergraduate and MBA Cost or Management Accounting courses The text that defined the cost accounting market. Horngren's Cost Accounting, defined the cost accounting market and continues to innovate today by consistently integrating the most current practice and theory into the text. This acclaimed, market-leading text emphasizes the basic theme of “different costs for different purposes,” and reaches beyond cost accounting procedures to consider concepts, analyses, and management. This edition incorporates the latest research and most up-to-date thinking into all relevant chapters and more MyAccountingLab® coverage! MyAccountingLab is web-based tutorial and assessment software for accounting that not only gives students more'I Get It'moments, but gives instructors the flexibility to make technology an integral part of their course, or a supplementary resource for students. Please note that the product you are purchasing does not include MyAccountingLab. MyAccountingLab Join over 11 million students benefiting from Pearson MyLabs. This title can be supported by MyAccountingLab, an online homework and tutorial system designed to test and build your understanding. Would you like to use the power of MyAccountingLab to accelerate your learning? You need both an access card and a course ID to access MyAccountingLab. These are the steps you need to take: 1. Make sure that your lecturer is already using the system Ask your lecturer before purchasing a MyLab product as you will need a course ID from them before you can gain access to the system.2. Check whether an access card has been included with the book at a reduced cost If it has, it will be on the inside back cover of the book.3. If you have a course ID but no access code, you can benefit from MyAccountingLab at a reduced price by purchasing a pack containing a copy of the book and an access code for MyAccountingLab (ISBN : 9781292079080)4. If your lecturer is using the MyLab and you would like to purchase the product...Go to www.myaccountinglab.com to buy access to this interactive study programme. For educator access, contact your Pearson representative. To find out who your Pearson representative is, visit www.pearsoned.co.uk/replocator

Discretion in Managerial Bonus Pools synthesizes and integrates a growing literature that has emerged over the past 10-15 years on the use of both objective and subjective performance indicators in managerial incentive plans. The authors examine the structure of efficient bonus pools (fixed payment schemes) in the presence of subjective performance indicators. The analysis covers a range of scenarios including single- and multi-agent settings, the interplay of objective and subjective indicators and short-term as opposed to long-term contracting relations. To synthesize the existing research, the authors frame their exposition around five recurring themes which collectively speak to the structure and the efficiency of incentive schemes based on subjective information i. Value of Subjective Performance Indicators. ii. Incremental Agency Cost. iii.Compression of Optimal Incentive Contracts. iv. Optimality of Proper Bonus Pools. v. Value of Multiperiod Contracting