MANAGEMENT
ACCOUNTING
Information for Decision-Making and Strategy Execution
S I X T H
E D I T I O N
Anthony A. Atkinson
University of Waterloo
Robert S. Kaplan
Harvard University
Ella Mae Matsumura
University of Wisconsin–Madison
S. Mark Young
University of Southern California
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Library of Congress Cataloging-in-Publication Data
Management accounting / Anthony A. Atkinson . . . [et al.].—6th ed.
p. cm.
Includes index.
ISBN-13: 978-0-13-702497-1
ISBN-10: 0-13-702497-5
1. Managerial accounting. I. Atkinson, Anthony A. II. Title.
HF5657.4.M328 2012
658.15 11—dc22
2011003287
10 9 8 7 6 5 4 3 2
ISBN-10: 0-13-702497-5
ISBN-13: 978-0-13-702497-1
This book is dedicated to our
parents and families.
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BRIEF CONTENTS
Preface
xvii
Acknowledgments
About the Authors
xxi
xxiii
CHAPTER 1
How Management Accounting Information Supports Decision Making
1
CHAPTER 2
The Balanced Scorecard and Strategy Map
15
CHAPTER 3
Using Costs in Decision Making
62
CHAPTER 4
Accumulating and Assigning Costs to Products
121
CHAPTER 5
Activity-Based Cost Systems
165
CHAPTER 6
CHAPTER 7
Measuring and Managing Customer Relationships
Measuring and Managing Process Performance
252
218
CHAPTER 8
Measuring and Managing Life-Cycle Costs
301
CHAPTER 9
Behavioral and Organizational Issues in Management Accounting
and Control Systems 340
CHAPTER 10 Using Budgets for Planning and Coordination
393
CHAPTER 11 Financial Control
462
Glossary
510
Subject Index
518
Name and Company Index
524
v
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CONTENTS
Preface
xvii
Acknowledgments
About the Authors
xxi
xxiii
CHAPTER 1
How Management Accounting Information Supports Decision Making
1
What Is Management Accounting? 2
Management Accounting and Financial Accounting
A Brief History of Management Accounting 3
2
IN PRACTICE:
Definition of Management Accounting (2008), Issued by the Institute
of Management Accountants 4
Strategy 5
The Plan-Do-Check-Act (PDCA) Cycle
6
IN PRACTICE:
Company Mission Statements 7
Behavioral Implications of Management Accounting Information
Summary 10
Key Terms 10
Assignment Materials 10
9
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第十一章 Financial Control
What is meant by financial control? Financial control involves the use of measures based on financial information to assess organization and management performance. The focus of attention could be a product, a product line, an organization department, a division, or the entire organization. Financial control, which focuses on financial results, provides a counterpoint to the Balanced Scorecard view, which links financial results to their presumed drivers. In for-profit organizations, financial control looks at the drivers of profit such as the organizationrsquo;s ability to use its assets effectively and control costs for a given level of sales. In not-for-profit organizations, financial control looks at the organizationrsquo;s ability to use its resources in the most effective way to accomplish its service objectives.
Financial control thus plays an important role in the plan–do–check–act cycle we first discussed in Chapter 1. Financial control summarizes the financial results of operations and compares them to planned results. The purpose is to identify why plans were not achieved and to make the appropriate adjustment.
In Chapter 2 we explored the important role of the Balanced Scorecard as a means to quantify strategy and drive strategy down through the organizationrsquo;s hierarchy. The Balanced Scorecardrsquo;s cause-and-effect structure reflects managementrsquo;s assessment of what drives success in achieving organizational objectives. In for-profit organizations, success is ultimately measured by generating good financial returns to capital suppliers, using metrics such as return on investment, earnings per share, market share growth, and profit growth.
Because external stakeholders such as investors, stock analysts, and creditors have traditionally relied on financial performance measures to assess an organizationrsquo;s potential, organizations have developed and exploited financial measures to assess performance and target areas for improvement. Recall from the Balanced Scorecard discussion that shortfalls in financial measures signal poor performance but do not identify what has gone wrong. They identify that expectations were not met and that attention, explanation, and possibly even action are needed. For example, falling profits may reflect falling sales, which in turn may reflect customer dissatisfaction with poor quality, poor service, or high prices. Financial measures will highlight the falling profit and sales but not why—that is the role of the nonfinancial measures discussed in Chapter 2.
Financial control is part of the broader topic of organization control we considered in Chapter 9. Financial control is treated separately in this text because of its widespread use in our market-based economy.
In Chapter 10 we studied variance analysis, which is one of the oldest and most widely used forms of financial control. This chapter focuses on broader issues in financial control, including the evaluation of organization units and of the entire organization.
When managers apply financial control tools to evaluate organization units—for example, to evaluate the profitability of a product or product line—the resulting information is usually used internally and is not distributed to outsiders. Managers, particularly at General Motors during the 1920s, developed this form of internal financial control to support decentralizing of decision-making information in large organizations.
Outside analysts developed financial control tools to assess various aspects of organization performance, such as solvency, efficiency, and profitability. Because financial measures reflect how outsiders view the organization, these external financial control tools are relevant for management use and evaluation.
Decentralization, the process of delegating decision-making authority to frontline decision makers, evolved for two reasons. First, as organizations became larger, it became increasingly difficult for a central decision maker, or core of decision makers, to make all organizational decisions. Second, as organizations became larger and more geographically dispersed, it became increasingly difficult to gather and transmit information about the organizationrsquo;s environment for evaluation and processing at the organizationrsquo;s center. Therefore, decentralization was a natural development reflecting the need for large organizations to respond more quickly and effectively to important changes in their environment. In turn, decentralization was the phenomenon that prompted the development and use of internal financial control in organizations in the early 1900s.
Because of the difficulty involved in gathering and transmitting information quickly to a central decision maker, most highly centralized organizations are unable to respond effectively or quickly to their environments; therefore, centralization is best suited to organizations that are well adapted to stable environments. Observers of industry practice used to cite power, gas, and telephone utilities and companies such as couriers, fast-food operations, financial institutions, and natural resource industries as examples of organizations facing stable environments. A stable environment meant there were no major information differences between the corporate headquarters and the employees who were responsible for dealing with customers or running the operations that made the organizationrsquo;s goods and services and no changes in the organizationrsquo;s environment that required the organization to adapt.
Therefore, there was no need for a rapid response to a changing environment or for delegation of decision making to local managers, and organizations could develop standard operating procedures for its well-understood environment that it expected employees to implement.
In such organizations, technology and customer requirements were well understood, and the product line consisted mostly of
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