Fundamental Managerial Accounting Concepts

Thomas P. Edmonds, Ph.D., is Professor Emeritus in the Department of Accounting at the University of Alabama at Birmingham (UAB). He has been actively involved in teaching accounting principles throughout his academic career. Dr. Edmonds has coordinated the accounting principles courses at the University of Houston and UAB. He has taught introductory accounting in mass sections and in distance learning programs. He has received five prestigious teaching awards, including the Alabama Society of CPAs Outstanding Educator Award, the UAB Presidents Excellence in Teaching Award, and the distinguished Ellen Gregg Ingalls Award for excellence in classroom teaching. He has written numerous articles that have appeared in many publications, including Issues in Accounting, the Journal of Accounting Education, Advances in Accounting Education, Accounting Education: A Journal of Theory, Practice and Research, the Accounting Review, Advances in Accounting, the Journal of Accountancy, Management Accounting, the Journal of Commercial Bank Lending, the Bankers Magazine, and the Journal of Accounting, Auditing, and Finance. Dr. Edmonds has served as a member of the editorial board for Advances in Accounting: Teaching and Curriculum Innovations and Issues in Accounting Education. He has published five textbooks, five practice problems (including two computerized problems), and a variety of supplemental materials including study guides, work papers, and solutions manuals. Dr. Edmondss writing is influenced by a wide range of business experience. He is a successful entrepreneur. He has worked as a management accountant for Refrigerated Transport, a trucking company. Dr. Edmonds also worked in the not-for-profit sector as a commercial lending officer for the Federal Home Loan Bank. In addition, he has acted as a consultant to major corporations, including First City Bank of Houston (now Citi Bank), AmSouth Bank in Birmingham (now Regions Bank), Texaco, and Cortland Chemicals. Dr. Edmonds began his academic training at Young Harris Community College in Young Harris, Georgia. He received a B.B.A. degree with a major in finance from Georgia State University in Atlanta, Georgia. He obtained an M.B.A. degree with a concentration in finance from St. Marys University in San Antonio, Texas. His Ph.D. degree with a major in accounting was awarded by Georgia State University. Dr. Edmondss work experience and academic training have enabled him to bring a unique user perspective to this textbook. Professor Olds, PhD, is associate professor of accounting at Virginia Commonwealth University (VCU). He serves as the coordinator of the introduction to accounting courses at VCU. Professor Olds received his AS degree from Brunswick Junior College in Brunswick, Georgia (now College of Coastal Georgia). He received a BBA in accounting from Georgia Southern College (now Georgia Southern University); his MPA and PhD degrees are from Georgia State University. After graduating from Georgia Southern, he worked as an auditor with the U.S. Department of Labor in Atlanta, Georgia. A former CPA in Virginia, Professor Olds has published articles in various professional journals and presented papers at national and regional conferences. He also served as the faculty adviser to the VCU chapter of Beta Alpha Psi for five years. In 1989, he was recognized with an Outstanding Faculty Vice-President Award by the national Beta Alpha Psi organization. Professor Olds has received both the Distinguished Teaching Award and the Distinguished Service Award from the VCU School of Business. Most recently he received the universitys award for maintaining High Ethical and Academic Standards While Advocating for Student-Athletes and Their Quest Towards a Degree. Bor-Yi Tsay, PhD, CPA, is professor of accounting at Kennesaw State University (Kennesaw). He has taught principles of accounting courses at the University of Houston and University of Alabama at Birmingham. He currently teaches principles of accounting courses in Kennesaw. Dr. Tsay received the 1996 Loudell Ellis Robinson Excellence in Teaching Award. He has also received numerous awards for his writing and publications, including the John L. Rhoads Manuscripts Award, John Pugsley Manuscripts Award, Van Pelt Manuscripts Award, and three certificates of merit from the Institute of Management Accountants. His articles have appeared in Journal of Accounting Education, Management Accounting, Journal of Managerial Issues, CPA Journal, CMA Magazine, Journal of Systems Management, and Journal of Medical Systems. Dr. Tsay received a BS degree in agricultural economics from National Taiwan University, an MBA degree from Eastern Washington University, and a PhD degree in accounting from the University of Houston. Christopher T. Edmonds, Ph.D., is an associate professor in the Department of Accounting and Finance at the UAB Collat School of Business. He coordinates the mass section face-to-face and online principles of accounting courses. Dr. Edmonds specializes in developing flipped and online accounting courses and frequently speaks on these topics at universities and conferences. His passion for helping students learn inspired him to create hundreds of short videos teaching the fundamental concepts of accounting. Dr. Edmonds has received six prestigious teaching awards including the UAB Faculty Student Success Award, UAB Transformative Online Course Award, UAB Loudell Ellis Robinson Classroom Teaching Award, UAB Disability Support Recognition Award, and the Virginia Tech Favorite Faculty Award. He has published three textbooks where he is the lead video author and has written numerous articles that have appeared in publications including The Accounting Review, Journal of Accounting and Public Policy, Issues in Accounting Education, Advances in Accounting Education, Advances in Accounting, and Review of Quantitative Finance and Accounting. Dr. Edmonds began his academic training at Colorado State University. He obtained an M.B.A. degree from UAB. His Ph.D. degree with a major in accounting was awarded by Virginia Polytechnic Institute and State University.

Chapter 1 Management Accounting and Corporate GovernanceChapter 2 Cost Behavior, Operating Leverage, and Profitability AnalysisChapter 3 Analysis of Cost, Volume, and Pricing to Increase ProfitabilityChapter 4 Cost Accumulation, Tracing, and Allocation Chapter 5 Cost Management in an automated Business Environment: ABC, ABM and TQM Chapter 6 Relevant Information for Special Decisions Chapter 7 Planning for Profit and Cost ControlChapter 8 Performance EvaluationChapter 9 Responsibility AccountingChapter 10 Planning for Capital InvestmentsChapter 11 Product Costing in Service and Manufacturing EntitiesChapter 12 Job-Order, Process, and Hybrid Costing SystemsChapter 13 Financial Statement AnalysisChapter 14 Statement of Cash FlowsAppendixGlossaryPhoto CreditsIndex