Managerial Accounting for Undergraduates, 2e

by Christensen, Hobson, Wallace, Matthews

| ISBN: 978-1-61853-309-8 | Copyright 2020

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Welcome to Managerial Accounting for Undergraduates, Second Edition!

We have written this book to introduce future business professionals to management accounting concepts and decision-making tools that will help them manage their companies in an increasingly competitive global market. While working for both small and large service firms and teaching in a university setting, we observed that some business professionals, although possessing a technically sound knowledge of accounting principles and methods, had difficulty understanding how the “answer” applied in the context of real business issues faced by these firms. Although a business professional may be able to calculate the materials efficiency variance, for example, determining who might have been responsible for the variance and what should be done to address the variance requires a broader understanding of the overall business. We want young professionals to be better prepared to make good business decisions and contribute to the overall strategy of the companies for which they work.

Many undergraduate managerial accounting textbooks focus primarily on calculations and formulas and how to apply these accounting skills in a manufacturing environment. However, business professionals must be able to apply their technical accounting knowledge and expertise in a broader context in making good business decisions. Moreover, because the U.S. market is increasingly service oriented, professionals must develop experience in applying these skills to decision making in a service environment. Having spent several years supplementing existing textbook problems with more real-world and service industry examples, we saw a need for a new approach. Hence, we focus on helping students to (1) develop strong analytical skills and (2) apply them in realistic decision-making contexts. Finally, we have written the book with a heavy emphasis on managerial decisions in service and merchandising enterprises.

Target Audience

Managerial Accounting for Undergraduates, 2e, is intended for use in the first managerial accounting course at the undergraduate level; one that balances the development of management accounting tools with their implementation in decision making. This book teaches future business professionals how to read, analyze, and interpret accounting and other company, industry, and economic data to make informed business decisions.

Value

Incredible Value:  Managerial Accounting for Undergraduates is offered at $60 net to the bookstore and $80 suggested retail price. Your students will benefit from high quality course materials at only 25% to 30% of the price of other leading textbooks.

myBusinessCourse:  myBusinessCourse is a complete learning and assessment program that is free with new copies of the textbook. The authors created the various video and assignments in the system ensuring consistency between the textbook and learning system.

Extensive Service Industry Coverage

The service sector is the fastest growing segment of the U.S. economy. The text includes Service Industry Margin Callouts identifying the sections of the text that apply managerial accounting concepts to the service industry.  Further, each chapter concludes with a Service Industry in Focus case that provides students an opportunity to apply what they learned within a service industry situation.

Corporate Social Responsibility

Increasingly, companies have found that “doing good” leads to a more successful, profitable enterprise. These boxed inserts help students understand how CSR is being embraced by forward-thinking enterprises as part of their long-term business models.

Accounting in Practice

These boxed inserts help bridge the gap between the classroom and what students encounter in the real world. These inserts document situations a student will likely encounter, and presents choices that companies face in making decisions.

Ethics

As professionals, students will eventually be confronted with day-to-day-decisions that have ethical implications. The authors discuss ethics where appropriate in the textbook, including assignments throughout the text that raise ethical issues.

Real Company Examples

Students better engage in the learning process and retain concepts through real and familiar examples.  Throughout the text, the authors incorporate real examples such as Microsoft, Amazon, Google, and Waste Management.

Your Turn! Boxes

Your Turn! Boxes are integrated throughout each chapter as a means of reinforcing the material just presented through immediate practice. These self-study boxes are inserted at the end of each major section in each chapter and require students to apply the concepts and techniques they just learned. Solutions are provided at the end of each chapter so students can check their work.

Student Success

As managerial accounting can be challenging, the authors include many features that provide additional direction for students. Mapping Each Chapter – each chapter begins with an overview that visually depicts the layout of the chapter. A.K.A. Boxes - inform students of commonly used alternative terms that they may encounter in practice. Hints – additional suggestions inserted in the margin to help students understand difficult concepts. 

Integrated with Excel

Business professionals must be able to use spreadsheets to solve data analysis problems. In each chapter, the authors demonstrate data analysis concepts in Excel. Excel templates are provided for select assignments and are identified by an EXCEL icon. 

myBusinessCourse

Additional assignments and video examples have been added to MBC, so virtually all of the textbook assignments are available in the system.

Action Plan

Each chapter opens with a grid that identifies each learning objective for the chapter, the related pages, guided example videos, and end of chapter assignments. This allows students and faculty to quickly grasp the chapter contents and to efficiently navigate to the desired topic.

Additional End-of-Chapter assignments

Each learning objective includes a wide variety of assignment material.  

Additional Test Bank Questions

Includes an expanded test bank.

More Your Turn! Boxes

Now each learning objective ends with a comprehensive Your Turn! exercise that gives students even more opportunities to practice.  Each Your Turn! is accompanied by a short video clip that walks students through the solution.

Theodore E. Christensen

Theodore E. Christensen

Director and Terry Distinguished Chair of Business in the J.M. Tull School of Accounting at the University of Georgia (UGA).

Prior to coming to UGA, he was on the faculty at Brigham Young University from 2000-2015 and at Case Western Reserve University from 1995-2000. He was a visiting professor at the University of Michigan (2013-2014) and the University of Utah (2012) and has taught at Santa Clara University in a summer program since 2005. He received a B.S. degree in accounting from San Jose State University, an M.Acc. degree in tax from Brigham Young University, and a Ph.D. in accounting from the University of Georgia. Professor Christensen has authored and coauthored articles published in many journals, including The Accounting Review; the Journal of Accounting and Economics; the Journal of Accounting Research; Review of Accounting Studies; Contemporary Accounting Research; Accounting Organizations and Society; the Journal of Business Finance & Accounting; the Journal of Accounting, Auditing, and Finance; Accounting Horizons; and Issues in Accounting Education.

L. Scott Hobson

L. Scott Hobson

L. Scott Hobson is a teaching Professor of Accounting at Brigham Young University (BYU) since 2003.

He received his B.S. in Accounting and Master of Accountancy Degrees from BYU in 1983. Prior to his career in academics, Professor Hobson was the founder and the owner of Hilton Farnkopf & Hobson (now HFG Consultants), a management consulting firm headquartered in Walnut Creek, California, for 14 years. He also worked in public accounting at Price Waterhouse for 5.5 years in both audit and consulting. While at Price Waterhouse, he taught for 2 years as an adjunct faculty at San Jose University. He has taught accounting at all levels, from principles to M.B.A. courses, including managerial accounting, financial accounting, governmental and not-for-profit accounting, and management consulting. Professor Hobson is licensed as a CPA (inactive) in California. Professor Hobson has published a case titled "Managing the CPA Firm at Dodge Company" in Issues in Accounting Education.

James S. Wallace

James S. Wallace

Associate Professor at The Peter F. Drucker and Masatoshi Ito Graduate School of Management at The Claremont Graduate University.

He received his Bachelors of Arts from the University of California, Santa Barbara, his MBA from the University of California, Davis, and his PhD from the University of Washington. Professor Wallace also holds a CPA certification from the state of California. He previously served on the faculty of the University of California, Irvine and has served as a visiting professor at the University of California, San Diego. Professor Wallace's work has appeared in leading academic journals including the Journal of Accounting and Economics, the Journal of Corporate Finance, and Information Systems Research, along with leading applied journals such as the Journal of Applied Corporate Finance, the Journal of Accountancy, Issues in Accounting Education and Accounting Horizons. Prior to his career in academics, Professor Wallace worked in public accounting and in industry with a Fortune 500 company. He has done consulting work with numerous companies in multiple industries.

Jason W. Matthews

Jason W. Matthews

Senior Lecturer of Accounting and Director of Undergraduate Programs in the J.M. Tull School of Accounting at the University of Georgia (UGA)

He received his B.S. from Missouri State University; his Master of Accountancy degree from North Carolina State University; and his Ph.D. from the University of Georgia. Prior to his career in academics, Dr. Matthews was the interim Chief Financial Officer at Roark Capital Group, a private equity firm with approximately $12 billion in equity capital based in Atlanta, Georgia. He was also the Director and Chief Financial Officer at United Coal Company, a producer of metallurgical and steam coal and the Director and Chief Financial Officer of Oculan Corporation, which developed hardware and software related to IT security management.  Dr. Matthews has taught across all levels at UGA, including financial accounting to full-time and Executive M.B.A. students, accounting information systems to MAcc students, cost accounting and audit to accounting majors, and introductory financial and managerial accounting to non-accounting majors. He is the recipient of numerous teaching awards, including most recently the 2018 Terry College of Business Instructional Excellence Award and the 2018 Pearcy B. Yeargin Outstanding Undergraduate Teacher of the Year award. He has been active in serving on committees in the Teaching Learning and Curriculum section of the American Accounting Association and is a CMA. 


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