ISE 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. Christopher T. Edmonds, PhD, is a professor in the Department of Accounting and Finance at the UAB Collat School of Business. He also is the course coordinator for the face-to-face and online principles of accounting courses. Dr. Edmonds specializes in teaching and developing engaging face-to-face and online introductory accounting courses. He is a frequent speaker at conferences and universities on best teaching practices and has delivered over 40 professional teaching workshops. His passion for helping students learn inspired him to create hundreds of short videos teaching the fundamental concepts of accounting. This work led to the publication of the first interactive video textbook for introductory accounting. Dr. Edmonds has received seven prestigious teaching awards including the UAB Presidents Outstanding Teaching Award, 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 four textbooks and has written numerous articles that have appeared in publications including The Accounting Review, Auditing: A Journal of Theory and Practice, Journal of Accounting and Public Policy, Issues in Accounting Education, Advances in Accounting Education, Advances in Accounting, and Review of Quantitative Finance and Accounting. He currently serves on several editorial boards. Dr. Edmonds started his career as a web application developer creating software solutions to put newspapers online. He began his academic training at Colorado State University. He obtained an MBA from UAB. His PhD with a major in accounting was awarded by Virginia Polytechnic Institute and State University. Mark A. Edmonds, Ph.D., CPA, is an assistant professor in the Department of Accounting and Finance at the University of Alabama at Birmingham (UAB). He has taught principles and advanced accounting classes in face-to-face, flipped, and online formats. Dr. Edmonds is currently spearheading the effort within the Collï¿t School of Business to integrate data analytics into the accounting curriculum. He has developed business analytics teaching tools at both the graduate and undergraduate level. Several contributions have been made to this text revolving around the data analytics concepts Dr. Edmonds incorporates into his classes. He is the recipient of the Loudell Ellis Robinson excellence in teaching award. Dr. Edmonds began his career providing assurance services for the internationally recognized accounting firm Ernst & Young. He utilizes this professional experience to bring a practical approach to the concepts covered in this text. At the conclusion of his professional service, he obtained his PhD from Southern Illinois University Carbondale. He serves as the education adviser on the board of the Institute of Internal Auditors Birmingham Chapter. Dr. Edmonds research focuses on alternative learning strategies in accounting. He frequently publishes in prominent journals such as Issues in Accounting Education and Journal of Accounting Education. Professor Olds 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 Costal Georgia College). He received a BBA in accounting from Georgia Southern College (now Georgia Southern University), and 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.

Table of Contents

Ch. 1: Management Acounting and Corporate Governance

Ch. 2: Cost Behavior, Operating Leverage, and Profitability Analysis

Ch. 3: Analysis of Cost, Volume, and Pricing to Increase Profitability

Ch. 4: Cost Accumulation, Tracing, and Allocation

Ch. 5: Cost Management in an Automated Business Environment: abc, abm, and tqm

Ch. 6: Relevant Information for Special Decisions

Ch. 7: Planning for Profit and Cost Control

Ch. 8: Performance Evaluation

Ch. 9: Responsibility Accounting

Ch. 10: Planning for Capital Investments

Ch. 11: Product Costing in Service and Manufacturing Entities

Ch. 12: Job-Order, Process, and Hybrid Costing Systems

Ch. 13: Financial Statement Analysis

Ch. 14: Statement of Cash Flows