This textbook offers strategic management topics in conjunction with traditional cost accounting material. Over the last decade, much research has been published that redefines the role of the cost accountant with the organisation. This research suggests that firms today are looking for accountants who understand the needs of management and can provide input in decision-making. The authors include discussions about strategy and decision-making, as well as research from prominent professionals such as Michael Porter and John Shank. The distinguishing features of this book are its strategic cost management framework and the emphasis on using cases.

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New real world stories in each chapter to reflect business and management practices and concerns in recent years. For example, there is a summary of new concepts of strategy in Chapter 2, an update on current practices and issues about executive stock options in Chapter 20; customer profitability analysis is covered in Chapter 17; the concept of intangible assets is covered in Chapter 19; and, the development of the Euro is covered in Chapter 2.
Extensive integration of spreadsheet-based solution methods in the text and problem material, for example:
o Use of Excel Solver to solve linear programming problems (Chapter 10) and reciprocal cost allocation problems (Chapter 14)
o Use of Excel regression to solve linear regression problems
o Use of spreadsheets to perform sensitivity analysis in cost-volume-profit analysis
o Use of spreadsheets to prepare process cost reports
o Actual Excel screens are used to illustrate the use of the methods to make it easier to replicate the examples and problems, following the illustrated Excel commands
Significant increase in the number of end of chapter problems, including especially adapted CMA exam problems.
An update on the emerging concepts of strategy and their relevance for cost management (chapter 2).
Cost Management versus Cost Accounting Emphasis - The trend in the market is away from the pure cost accounting approach to a cost management emphasis. The text is written on the premise that cost information is critical for effective management.
Significant increase in the number of theory of constraints examples and problems, including a new appendix covering advanced topics (chapter 5).
More comprehensive development of the role of the balanced scorecard in management performance evaluation (chapter 18).
Significant increase in the number of examples and problems in service industries, particularly in hospital cost management.
Activity-based costing is integrated through the text by using examples and problem material in chapters 8, 9, 10 and 17.
Regression analysis is used as an analytical tool not only in analyzing cost behavior (Chapter 7) but also in sensitivity analysis (Chapter 8), management control (Chapter 18), and executive compensation (Chapter 20).
Clarification of the relationships between strategic positioning, the value chain and the balanced scorecard (Chapter 2).
An appendix on spoilage, rework and scrap and expanded coverage of operations costing has been added to Chapter 12.
Expanded coverage of spoilage in process costing, Chapter 13.
Added discussion with illustrations on cost reconciliations in Chapter 13.
New coverage of customer profitability analysis in Chapter 17 and Chapter 4.
The Strategic Emphasis - The text provides a strategic management approach in conjunction with traditional cost accounting material. The text was written to help students understand more about management and the role of cost management in helping a firm or organization to succeed.
Strategic Cost Management Framework - The text is organized by management function to emphasize the strategic role of cost management information in each of the management functions.
Integration of Strategy - Each chapter explains how one or more cost management methods contribute to the success of the firm. Management's competitive strategies are presented early (Chapter 2) , and the theme is carried throughout.
Case Emphasis - The authors have gathered and used many cases and readings, and developed new approaches for using cases in the cost management course (the authors present these cases and methods at a CPE session entitled 'Teaching Strategic Cost Management' at the AAA annual meeting each year). These cases and readings are collected in a supplemental book, Cases and Readings in Strategic Cost Management. These cases give instructors an opportunity to explore strategic issues in practical situations. They also provide excellent material to integrate the more contemporary ways of teaching accounting: group work, written exercises, and presentations.
End-of-Chapter Material - Categories of end-of-chapter material include questions, exercises, problems, and brief cases (longer cases are included in the casebook). Each chapter includes problems that ask students to use methods of strategic cost management to analyze specific fact situations; many times these situations also involve strategic competitive issues, ethical issues, international issues, service firms, or an opportunity to use the power of spreadsheets.

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