7 Best Managerial Accounting Books of All Time

Do you know which managerial accounting book is considered the best? We will show you 7 best managerial accounting books of all time that even MBA programs use.

What is Managerial Accounting?
Managerial accounting or management accounting is one of the most powerful tools for managers at all levels to control the rising costs. In contrary to financial accounting, which focus on external reporting, managerial accounting provides you with costing data that help you to make the right decision at the right time. A typical managerial accounting book will explain about fundamental concepts such as,

- Basic cost management concepts
- Various product costing concepts such as activity based costing, target costing, job order costing and so on
- Activity analysis
- Cost estimation
- Capital budgeting and sales forecasting

With true cost knowledge, a typical operations manager will be able to find ways to reduce costs and improve service.

Finding Best Managerial Accounting Books
A reader who takes care of transportation function would like to reduce transportation related costs. So he asks us for a managerial accounting book recommendation. We explore managerial accounting book landscape, then we collect data as below,

Managerial Accounting Book Data Collection

- We check out the list of top business school rankings based US News report

- We select top 10 business schools specializing in accountancy, namely, NYU Stern, US Marshall, Stanford, UIUC, Umich, Mccombs, Wharton, UNCC, Chicago Booth and BYU

- After that, we visit each school's website and check the managerial accounting syllabus

- We try to find out which managerial accounting book is listed as a required reading

- We also consider a non-traditional managerial accounting book if it is listed as the supplementary reading materials

- We finalize the list of managerial accounting books based on citation counts

7 Best Managerial Accounting Books are as below:
  1. Managerial Accounting by Ray Garrison, Eric Noreen and Peter Brewer

  2. Cost Accounting by Charles T. Horngren, Srikant M. Datar and Madhav V. Rajan 

  3. Managerial Accounting: Creating Value in a Dynamic Business Environment by Ronald W. Hilton and David E. Platt

  4. Accounting: Tools for Business Decision Making by Paul D. Kimmel, Jerry J. Weygandt and Donald E. Kieso

  5. Schaum's Outline of Managerial Accounting by Jae Shim and Joel Siegel

  6. Management Accounting: Information for Decision-Making and Strategy Execution by Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura and S. Mark Young 

  7. Managerial Accounting: An Introduction to Concepts, Methods and Uses by Michael W. Maher, Clyde P. Stickney and Roman L. Weil
Have you ever read any managerial accounting book listed here?