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Managerial Accounting, Canadian Edition, 5th edition

Published by Pearson Canada (August 31, 2023) © 2024

  • Karen W. Braun Case Western Reserve University
  • Wendy M. Tietz Kent State University
  • Louis Beaubien Dalhousie University

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Managerial accounting taught through real-world business application

Managerial Accounting helps students see how managerial accounting concepts are used in business to make decisions. By presenting actual accounting decisions made in companies, the text's precise coverage of the core concepts better engages students in the content. With a new focus on data analytics and new problems and applications, students receive the most up-to-date information and practice opportunities to prepare them for their future careers in accounting.

Hallmark features of this title

  • Integration of CPA Competencies. Managerial Accounting focuses on covering the competencies outlined in the 2022 CPA Competency Map and each chapter opens with a list of Professional Competencies considered in that chapter. These features will allow students and faculty interested in CPA designation to become familiar with the Competency Map and the material covered in the book.
  • Learning Objectives are the most important concepts in each chapter. Expressed in everyday language, these LOs are mapped throughout the chapter, end-of-chapter assessment, and MyLab Accounting, allowing students to accurately track their understanding of each learning objective.
  • Try It! interactive questions are found throughout the chapter and give students the opportunity to apply the concept they just learned. Video Solutions, found in MyLab Accounting, feature the author walking through select Try It! problems on a white board. Designed to give students detailed help when they need it. 
  • Sustainability boxes are integrated into the body of each chapter, providing students with insight on how sustainability applies to accounting concepts. Related questions are included in the end-of-chapter assessment.
  • Stop & Think, a question-and-answer section, encourages students to think critically about the application of key concepts.
  • Technology Makes It Simple features give students step-by-step directions on how to use Microsoft Excel 365 to perform an accounting task with more efficiency. Examples include scatterplots, regression analysis, capital budgeting, CVP graphs, budgeting, and sensitivity analysis. 
  • Control Concepts feature boxes in each chapter that provide students with insight on management control activities and how they apply to accounting concepts. Related questions are included in the end-of-chapter assessment.
  • Why Is This Important? sections highlight the connection of accounting to the business environment so students can better understand the business significance of managerial accounting.
  • Decision Guidelines summarize key terms, concepts, and formulas in the context of specific business decisions so that students can see how accounting is used to make good business decisions.
  • Summary Problems allow students to practise the skills outlined in the decision guidelines.

New GenAI Study Tool

We’ve heard how important it is for students to use reliable AI tools in responsible and productive ways. To that end, Pearson is focused on creating tools that combine the power of generative AI with trusted Pearson content to provide students with a simplified study experience, delivering on-demand and personalised support that compliments your teaching and aligns with the text you’ve chosen. The Study Tool is available to students who access the Pearson eText on its own or through MyLab.

What can the AI Study Tool do?

  • Generate simplified explanations of challenging sections
  • Summarize material to help learners focus on key topics and ideas
  • Students can ask for multiple choice or short answer questions related to a specific chapter or section to help fill knowledge gaps
  • For extra practice, students can also generate flashcards and notes based on their chat interaction with the tool

New and updated features of this title

  • As the world shifts to a greater reliance on digital media, it is appropriate that this resource evolves as well. This Fifth Canadian Edition is the first fully digital version of Managerial Accounting. Instructors and students will find that, although the medium has changed, the content is fully consistent with prior editions.
  • A new sustainability chapter provides a deeper dive into how sustainability can generate business value. It also includes sections on sustainability reporting, including the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and Integrated Reporting (IR).
  • New Content on Data Analytics! Data Analytics is becoming critically important in business - specifically in accounting. In an increasingly competitive environment, having the ability to harness information to make sound business decisions is becoming crucial. In the last learning objective of every chapter, students are introduced to data analytics in the context of a business decision relating to the chapter content. Each data analytics section focuses on both.
  • Updated Professional Competencies to match the current CPA Competency Map. 
  • Refreshed chapter opening vignettes attract student attention and lay the groundwork for the chapter using recognizable, real-world companies.

Important Digital Assets in MyLab Accounting

Digital Update 2024– New Mini Sims

  • Students act as business professionals as they apply course concepts to realistic business challenges they’re likely to experience in their future careers.
  • Mini Sim concepts center around key course topics such as product costing, cost behavior, cost-volume-profit analysis and budgeting. Tied to the text’s chapter learning objectives, they help students seamlessly transition from their text to the simulation - without breaking stride. Reflection Questions STATIC, Summary, References.

Digital Update 2024– Indigenous-focused cases by Russell Evans

  • This case study focuses on the business matters of a real Indigenous-owned store-front business and features nuances unique to job costing.
Digital Assets
  • New GenAI Study Tool. We’ve heard how important it is for students to use reliable AI tools in responsible and productive ways. To that end, Pearson is focused on creating tools that combine the power of generative AI with trusted Pearson content to provide students with a simplified study experience, delivering on-demand and personalised support that compliments your teaching and aligns with the text you’ve chosen.
  • Excel Projects. Using proven, field-tested technology, auto-graded Excel Projects let you seamlessly integrate Microsoft® Excel® content into your course without having to manually grade spreadsheets. Students can practice important skills in Excel, helping them master key concepts and gain proficiency with the program. They simply download a spreadsheet, work live on a problem in Excel, and then upload that file back into MyLab. Within minutes, they receive a report that provides personalized, detailed feedback to pinpoint where they went wrong in the problem.
  • Dynamic Study Modules. Using a highly personalized, algorithmically driven process, Dynamic Study Modules continuously assess student performance and provide additional practice in the areas where they struggle the most. Each Dynamic Study Module, accessed by computer, smartphone or tablet, promotes fast learning and long-term retention.
  • Accounting Cycle Tutorial. Accounting Cycle Tutorial lets students practice each step of the accounting cycle using engaging, interactive content, helping them master the cycle for early and continued success in their course.
  • Time Value Money Tutorial. The Time Value of Money Tutorial in MyLab (Accounting/Finance) ensures that students understand the basic theory and formulas of the TVM, while also helping test their ability to apply the TVM in the measurement of financial statement items. Students work through two sections. The first is to help them understand the theory - using whatever method the instructors choose (manually, through Excel®, with tables, or via a calculator). The second is to give students the opportunity to apply the theory by giving them a number of scenarios regarding each financial statement.
  • Accounting in the Headlines Blog. Accounting in the Headlines (www.accountingintheheadlines.com) is a blog written by Wendy Tietz. New stories are added to the blog each month. The blog contains short stories about real-life companies and current events that can be used in the accounting classroom to illustrate introductory accounting concepts. The blog posts contain stories and discussion questions, making the blog a turnkey solution for instructors wanting to use real-life examples in their classes. All content is intended to be brief and fit easily into the typical introductory accounting class. In addition to the content found on the blog site, multiple-choice questions related to each blog post can be found in MyLab Accounting.

  1. Introduction to Managerial Accounting
  2. Building Blocks of Managerial Accounting
  3. Cost Behaviour
  4. Cost-Volume-Profit Analysis
  5. Job Costing
  6. Process Costing
  7. Activity Based Costing
  8. Short-Term Business Decisions
  9. The Master Budget and Responsibility Accounting
  10. Flexible Budgets and Standard Costs
  11. Performance Evaluation and the Balanced Scorecard
  12. Capital Investment Decisions and the Time Value of Money
  13. Financial Statement Analysis (Online)
  14. Case Appendix: An Introduction to Case Analysis (Online)

About our authors

Karen Wilken Braun recently retired from her role as Professor of Accountancy in the Weatherhead School of Management at Case Western Reserve University (CWRU). Though retired, she continues to teach personal finance classes and workshops to undergraduate students, faculty, and staff. During her time on faculty, Dr. Braun was awarded the “Outstanding Teacher of the Year” 5 times by the vote of undergraduate business students. In 2018, she was named one of Poets & Quants “Top 50 Undergraduate Business Professors” in the country and in 2017, she was named “Business Information Professional of the Year” in the category of Education, by Beta Alpha Psi (national level). In 2016, Dr. Braun was awarded the prestigious Bea Sanders/AICPA Teaching Innovation Award for her development of Excel-based active-learning resources for introductory managerial accounting courses. While on the faculty of CWRU, she also served for several years as Beta Alpha Psi adviser and director of the undergraduate accounting program. Prior to her appointment at CWRU, Dr. Braun was on the faculty of the J.M. Tull School of Accounting at the University of Georgia, where she also was the recipient of a student-selected teaching award.

Dr. Braun is a Certified Public Accountant and holds membership in the American Accounting Association (AAA), the Institute of Management Accountants, and the American Institute of Certified Public Accountants. She also holds the Chartered Global Management Accountant (CGMA) designation and is a member of the AAA's Management Accounting Section as well as the Teaching, Learning and Curriculum Section. Dr. Braun has held leadership positions with the AAA's Conference on Teaching and Learning in Accounting (CTLA) including co-chairing the 2015 and 2016 conferences. Dr. Braun's research interests revolve around accounting education, sustainability, corporate responsibility, and lean operations. Dr. Braun's work has been published in Contemporary Accounting Research, Issues in Accounting Education, Journal of Accounting Education, and Strategic Finance.

Dr. Braun received her Ph from the University of Connecticut and her BA, thema cum laude, from Luther College, where she was a member of Phi Beta Kappa. Dr. Braun gained public accounting experience while working at Arthur Andersen & Co. and accumulated additional business and management accounting experience as a corporate controller.

Dr. Braun is married and has 2 daughters and 4 stepdaughters. She enjoys traveling, hiking, biking, gardening and skiing, especially when she can share those activities with family or friends.

Wendy M. Tietz is a professor for the Department of Accounting in the Ambassador Crawford College of Business and Entrepreneurship at Kent State University. She teaches introductory financial and managerial accounting, advanced management accounting, and advanced accounting analytics and technology.

Dr. Tietz is a Certified Public Accountant, a Certified Management Accountant, and a Chartered Global Management Accountant and holds a Certificate in Strategy and Competitive Analysis. She is also a Microsoft Certified Trainer. Dr. Tietz also holds the SASB credential in Fundamentals of Sustainability Accounting. She is a member of the American Accounting Association (AAA), the Institute of Management Accountants (IMA), and the American Institute of Certified Public Accountants. She is a member of the AAA's Management Accounting Section as well as the Teaching, Learning and Curriculum Section. She has published in Strategic Finance, Journal of Emerging Technologies in Accounting, IMA Educational Case Journal, Issues in Accounting Education, Accounting Education: An International Journal, and Journal of Accounting & Public Policy. She regularly presents at AAA regional and national meetings.

Dr. Tietz was awarded the American Accounting Association/J. Michael and Mary Anne Cook/Deloitte Foundation Prize for undergraduate teaching in 2020. She also received the Institute of Management Accountants (IMA) R. Lee Brummet Exemplary Educator Award in 2022 for her work, leadership, and service in the field of management accounting. Dr. Tietz authors a blog, Accounting in the Headlines, which has real-world news stories and resources for use in the introductory accounting classroom. She was awarded the Bea Sanders/AICPA Teaching Innovation Award for her blog and the Jim Bulloch/IMA Award for Innovations in Management Accounting Education, also for her blog. Dr. Tietz also was awarded the Jim Bulloch/IMA Award for Innovations in Management Accounting Education in 2020 for data analytics projects she co-developed. She was awarded the Best Educational/Case Award for the Teaching, Learning and Curriculum Section (AAA, Ohio Region) in 2016 and the Best Paper Award for the Ohio Region TLC in 2021. She has also received an Honorable Mention for the Bea Sanders/AICPA Teaching Innovation Award in 2018, 2019, and 2021 for cases she co-wrote on data analytics projects in introductory accounting.

Dr. Tietz has held leadership positions with the AAA's Conference on Teaching and Learning in Accounting (CTLA) including co-chairing the 2020 and 2021 conferences. She is the president of AAA's Teaching, Learning and Curriculum Section (2022 to 2023), chair of the Ohio Regional Council of the Institute of Management Accountants (2021 to have 2022), a member of the AICPA's Academic Executive Committee, and a member or officer in a variety of other professional organizations.

Dr. Tietz earned her PhD from Kent State University. She received both her MBA and BSA from the University of Akron. She worked in industry for several years, both as a controller for a financial institution and as the operations manager and controller for a recycled plastics manufacturer

Dr. Tietz and her husband, Russ, have 2 grown sons. In her spare time, she enjoys walking, reading, playing games, and spending time with family and friends. She is also intensely interested in using technology in education.

Louis Beaubien is currently an Associate Professor in the Rowe School of Business in the Faculty of Management, and in the Department of Community Health and Epidemiology in the Department of Medicine at Dalhousie University. Dr. Beaubien is also the Academic Director of the Creative Destruction Lab (CDL) Atlantic, a university-based seed stage accelerator, which is part of the seven university CDL network founded at the University of Toronto in 2012. From 2008 to 2012, Professor Beaubien was on the faculty of the Sobey School of Business at Saint Mary's University, where he received the University Charter Teacher of the Year award.

Professor Beaubien is a Chartered Professional Accountant and a member of the Canadian Academic Accounting Association (CAAA) and the American Accounting Association (AAA). Dr. Beaubien received his Ph.D. from the Richard Ivey School of Business at the University of Western Ontario. Prior to graduate school he gained professional experience in the financial services and consulting industry. Dr. Beaubien's research has covered areas including accounting in financial services, the co-operative sector, and healthcare.

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