For centuries, the lighthouse guided sailors through difficult sea passages. In a similar way, the book by Garrison, Noreen, and Brewer has successfully guided millions of students in managerial accounting, helping them smoothly progress through all course cycles. Like lighthouses, the Managerial Accounting book has evolved over the years. In the new 18th American edition, it continues to successfully guide students and has been enriched with tools that enhance learning and provide motivation for study. However, one of its features has remained unchanged – the focus on three important principles: relevance, accuracy, and clarity.

New features in the 18th American edition: New business-focused cases highlight different entrepreneurs, their managerial decisions, and how they serve their communities. New examples of data visualization show how analyses and charts can be used to answer managerial accounting questions. Additional data analysis exercises and automatically graded activities are available on the Connect online learning platform. A new continuous case study on Connect presents the applications of managerial accounting in the real world, with business materials, videos, exercises, and more. New videos from the authors cover the learning objectives and provide summaries for each chapter.

Contents: Concepts of managerial and cost accounting, Job order costing: calculation of unit product cost, Job order costing: cost element flow and external reporting, Process costing, Cost-volume-profit relationships, Variable costing and segment reports: Tools for management, Activity-based costing (ABC): A decision-making aid, Master budget, Flexible budgets and performance analysis, Standard costing and variance analysis, Responsibility accounting systems, Measuring strategic performance, Differential analysis: The key to decision making, Capital investment budgeting decisions, Statement of cash flows, Financial statement analysis.