umn accounting phd

Undergraduate Major & Minor - Accounting

Accounting is a term used to describe the process of gathering financial information and presenting it in a manner that will help users of that information make better decisions. Accountants are also frequently called upon to analyze financial information and provide important business advice.

The terms and definitions that have emerged from the discipline of accounting have become widely used within the industry. In fact, accounting is commonly described as the "language of business." Over the years, with the increased use of automation, the role of accountants has changed dramatically. Formerly regarded as simply number-crunchers, accountants have become recognized as valued business advisors and are important members of an organization's management team.

Major & Minor Curriculum

View the full Accounting Major & Minor catalogs:

• Major Catalog: First-year students entering Fall 2022 - Accounting major program requirements and course descriptions.
• Major Catalog: Prior to Fall 2022 and Transfer Students Entering Prior to Fall 2023 - Accounting major program requirements and course descriptions.
• Minor Catalog - Accounting minor program requirements and course descriptions.

Four-year plan

Accounting major sample plan.

The APAS is the official method for tracking the completion of your specific degree requirements. Please be aware that there are multiple ways for students to progress through this major. This is just one sample. Students should work with their advisor to develop their individual plan.

Italic: course pre-requisites and co-requisites (designated by &)

Bold: Liberal Ed requirement

Freshman Year

Fall Semester

• Econ 1165 Business Economics ( Soc Sci ) (4cr)
• BA 2551 Business Statistics in R ( Math ) (4cr)
• BA 1011 Leading Self & Teams (2cr)
• BA 1021 Design Your Life (1cr)
• Writ 1301 First Year Writing (4cr)

Spring Semester

• Acct 2051 Financial Reporting (4cr)
• BA 2051 Solving Business Scenarios in Excel (2cr)
• BA 2062 Powerful Problem Solving (2cr)
• Design Your Career (1cr)
• BA 2005 Corporate Responsibility & Ethics ( Civ ) (3cr) 
• Liberal Ed (3-4cr)

15-16 credits

Sophomore Year

Maroon Block I-Core

• Mktg 3001 Principles of Marketing (3cr)
• IDSc 3001 Information Systems & Digital Transformation (3cr)
• BA 3001 Race, Power, & Justice in Business ( RPJ ) (3cr)
• Acct 3001 Strategic Management Accounting (3cr)
• BA 3051 Data-Driven Business Decisions ( BA 2551 & BA 2051 ) (3cr)

Gold Block I-Core

• Fina 3001 Finance Fundamentals ( Acct 2051 & BA 2551) (3cr)
• Mgmt 3004 Strategic Management (3cr)
• SCO 3001 Sustainable Supply Chain Management (3cr)
• HRIR 3021 Human Capital Management (3cr)
• BA 3062 Impact Lab Project ( BA 2062 ) (2cr)

Declare a major:  z.umn.edu/CarlsonDeclare

Junior Year

• BA 3551 Business Analytics ( BA 2551 & BA 2051 ) (3cr)
• Acct 5101 Intermediate Accounting ( B- or better in Acct 2051 or passing the Acct5101 pretest ) (4cr)
• BLAW 3062 Contract Law & Corporate Regulation (2cr)
• Liberal Ed (3cr)
• Acct 5102 Intermediate Accounting II ( Acct 5101 ) (4cr) 
• BA 3033W Business Communication (3cr)
• Acct 5141 Financial Data Analytics ( BA 2551 ) (2cr)
• Acct 5135 Fundamentals of Federal Income Tax ( Acct 2051 ) (4cr)

Senior Year

• Acct 5125W Auditing Principles & Procedures ( Acct 5101) (4cr)
• Acct elective (2cr)
• Liberal Ed (4cr)
• Elective (3-4cr)
• Acct 5201 Intermediate Management Accounting ( Acct 3001 ) (2cr)
• Elective (4cr)
• Elective (2-3cr)

14-15 credits

Total Credits Needed for Degree: 120

Note: Students must complete an international experience as part of the program requirements. Short-term programs or semester-length programs may be used to meet this requirement. Explore your options: z.umn.edu/CarlsonIE

Additional Information

• Find the ACCT 5101: Intermediate Accounting I pretest for fulfilling pre-requisite requirements: ACCT 5101 pretest>>

Accounting is a term used to describe the process of gathering financial information and presenting it in a manner that will help users of that information make better decisions. Accountants are also frequently called upon to analyze financial information and provide important business advice, and play an important role in every type of organization, spanning size and industry. Accountants often perform a range of activities from creating and analyzing financial statements to evaluating a company’s efficiency and profitability. There are two career paths that Accountants often initially pursue: audit or tax. Audit focuses on analyzing and testing the financial statements of an organization in a team setting. Those in the tax industry may prepare tax forms and help in tax planning for individuals, estates, trusts, corporations, and partnerships. A major aspect of accounting is understanding the increasing compliance regulations enforced by the government, including controls over accounting information systems.

Sample careers for Accounting majors:

• Public Accounting (Audit, Tax, and Advisory Services)
• Government Accounting
• Private Corporate Accounting (Controller, Internal Audit, Tax)

Companies/Orgs that hire Accounting students:

• Public Accounting Firms (KPMG, PwC, Eide Bailly, Baker Tilly)
• Public & Private Companies (Target, 3M, Cargill, Land O'Lakes)

FIND MORE ACCOUNTING KEY CAREER INFO

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Ph.D. Program

The Ph.D. program prepares students for academic careers as faculty members and for positions in industry that require advanced skills in analytics and operations research. We offer advanced, rigorous coursework and exciting research opportunities, which culminate in a Ph.D. dissertation. Our program enrolls students with backgrounds in applied or pure mathematics, engineering, computer science, statistics, or basic sciences.

Ph.D. Curriculum

For students who aspire to conduct research at an academic, industry, or government institution, the University of Minnesota's Ph.D. program in Industrial and Systems Engineering provides the advanced preparation in analytics and operations research needed to succeed. Students in the ISyE Ph.D. program complete challenging and rigorous coursework and conduct research that culminates in a Ph.D. dissertation.

Students with a Ph.D. in ISyE Become...

• Research Scientists
• Data Scientists
• Operations Researchers
• R&D Engineers
• Consultants

Join Our Program

Follow the link below for information on how to apply to the Industrial and Systems Engineering Ph.D. program.

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Business and Management

The business and management program at UMN Morris will prepare you for a rewarding career in the dynamic field of business and management, whether it be in the government, private business, or nonprofit sector. The major provides a broad foundation of applied knowledge to analyze issues in operations of businesses and nonprofit and public organizations. Through our business and management program, you’ll gain knowledge of business principles and operations. You’ll also develop management and leadership skills in human, financial, material, natural, and digital resources. 

Along with learning the key elements of strategic decision-making, ethics and business law, accounting and finance, and the management of organizations, you’ll develop transferable skills that will last through an ever-changing labor market. These skills—working independently, collaborating with others, meeting deadlines, public speaking, critical thinking, and problem solving—will ensure that you move confidently into and through your professional career.

Degree Requirements

• Major Requirements
• Minor Requirements
• Four-Year Sample Plan
• Three-Year Sample Plan

Student Learning Outcomes

By completing a degree in business and management, you will be able to

• describe and identify the economic context for business and organizational decision making;
• apply, compare, and contrast different methods and approaches for managing financial, human, and material resources;
• explain the nature and functioning of the financial system;
• describe the nature of the global business environment; and
• communicate both orally and in writing about business, accounting, and managerial knowledge. 

General Education Requirements

The University of Minnesota and its faculty are committed to providing an education that invites you to investigate the world from new perspectives, learn new ways of thinking, and grow as an active citizen and lifelong learner. The University’s general education requirements are designed to be integrated throughout your four-year undergraduate experience. These courses provide you an opportunity to explore fields outside your major and complement your major curriculum with a multidisciplinary perspective.

• Learn more about UMN Morris General Education Requirements
• World Language Placement Exam
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Put your credits to work for you at UMN Morris, where you’ll earn a degree from a highly ranked public liberal arts university. 

Learn more about how we transfer credits

Careers & Graduate School

Recent business and management graduates from UMN Morris have gone on to secure occupations with these employers.

• Accountant, AEI Capital
• Actuarial analyst, Farm Bureau Financial Services
• Associate national bank examiner, Office of the Comptroller of the Currency
• Business analyst, Northern Wholesale Supply
• Business solutions analyst, First International Bank & Trust
• Clinical trial data analyst, Mayo Clinic
• Consumer Lender, Harbor Pointe Credit Union
• Customer success manager, Merchology
• Data analyst, Dakota Electric Cooperative
• Financial advisor, Northwestern Mutual
• Financial analyst, IBM, Caribou Coffee
• Financial operations analyst, SS&C Technologies
• Financial solutions advisor, Merrill Lynch
• Indirect tax analyst, Sysco
• Lead client experience manager, Celarity
• Loan operations specialist, Boundary Waters Bank
• Marketing specialist, Sportsdigita
• Project manager, Epic
• Regulatory finance accounting manager, UnitedHealthcare
• Payroll tax specialist, UnitedHealth Group
• Program manager, Ampact, Office of Enterprise Sustainability, State of MN.
• Real Estate Manager, Danne Inc.
• Underwriter, Delta Dental of Minnesota, Prime Therapeutics
• Wholesale energy markets trader, Ecova (now ENGIE) Corp

Graduate School

Our business and management alumni have gone on to pursue graduate degrees at many of the most prestigious universities, such as:

• American University
• Cornell University
• London School of Economics
• Michigan State
• Ohio State University
• St. Thomas University
• University of Buffalo
• University College of London
• University of Melbourne
• University of Minnesota Twin Cities
• University of Massachusetts at Amherst
• University of Toronto
• Washington University, St. Louis

Cost of Attendance

The University of Minnesota Morris is a national public liberal arts college committed to making a high-quality education available to students from across the country. Expenses for housing, meals, books and supplies, transportation, loan fees, and personal expenditures can vary.

Norma and Gary Bradow Agriculture Scholarship

Norma '60 and Gary '59 are proud graduates of the West Central School of Agriculture (WCSA). Norma created the scholarship in memory of Gary, to honor their education and memories at WCSA, and to support students interested in agriculture. This gift also commemorates the Bradow's 60th reunions from WCSA.

All Available Scholarships

Explore available scholarships

Research & Engagement

As a UMN Morris student, you are strongly encouraged to take part in academic opportunities outside the classroom. This includes participating in directed studies and research projects. You’ll have access to programs that make research opportunities possible. 

In addition, the McNair scholar program is a paid undergraduate research experience through which you would work closely with a faculty mentor to develop a scholarly research proposal, then carry out that work and present your results.

During your senior year in the business and management program, you’ll have the opportunity to pursue a senior research seminar.

Truckers and Turnover Project

As a business and management student, you may also have the option to participate in the ongoing Truckers and Turnover research project . This research project is being conducted over multiple years by a team of faculty and students at UMN Morris, as well as faculty at other institutions, in cooperation with several motor carriers. The purpose of this project is to study the high turnover of the long-haul trucking industry. Involvement by Morris undergraduate research students has been and still is critically important to the success of the project.

As a UMN Morris student, there are many ways to engage in your field of study—or outside of it. Regardless, you’ll be able to apply what you’re learning in the classroom in various ways, whether it’s through mentoring other students, working an internship, or getting involved with a club or student organization.

Economics & Management Club   Math Club

Opportunities for Students

Undergraduate research symposium.

The Undergraduate Research Symposium (URS) offers students an opportunity to present research plus scholarly and creative work. Types of presentations include posters, oral presentations, and short or abbreviated theatrical, dance, or musical performances.

• Creative Activity

Undergraduate Research Opportunities Program

The Undergraduate Research Opportunities Program (UROP) provides University of Minnesota undergraduates from every college, major, and discipline, the opportunity to partner with a faculty member on research or creative projects.

Morris Academic Partnership

The University of Minnesota Morris offers the Morris Academic Partnership (MAP) program, in which faculty select academically talented, qualified second-year and third-year students to assist them in scholarly and creative projects. Selected MAP students undertake assignments intended to enhance their intellectual competence and increase their interest in graduate or professional study.

• Morris Academic Partnership (MAP)

Quick Facts

Admissions University of Minnesota Morris Welcome Center 600 E Fourth Street Morris, MN 56267 888-866-3382 [email protected]

• Anishinaabe Summer Language Immersion

Accounting Principles: A Business Perspective

(5 reviews)

Roger H. Hermanson, Georgia State University

James D. Edwards, University of Georgia

Michael W. Maher, University of California at Davis

Copyright Year: 2011

Publisher: BCcampus

Language: English

Formats Available

Conditions of use.

Learn more about reviews.

Reviewed by Kim Johnson, Professor, Hutchinson Community College on 1/25/22

This is a book that explains a variety of financial accounting concepts, then dabbles in managerial accounting concepts toward the end of the book. It appears to be a good reference guide for someone to learn about how accounting is used in the... read more

Comprehensiveness rating: 5 see less

This is a book that explains a variety of financial accounting concepts, then dabbles in managerial accounting concepts toward the end of the book. It appears to be a good reference guide for someone to learn about how accounting is used in the business world. For a beginner’s guide, the depth of knowledge is outstanding in this text. For example, quality management is a topic that can be found repeatedly in this text. Explanations for how the content can be used to improve business processes are beneficial to learning. The text also explains how all stakeholders in the business can benefit from accounting knowledge.

Content Accuracy rating: 5

The book appears to be accurate. I don’t see any areas of concern when it comes to accuracy.

Relevance/Longevity rating: 4

The year 2010 is used in most of the exhibits. Sometimes a book loses credibility if it appears to be out of date, so the book could be updated to use 20XX to have the appearance of being up to date. The “Business Insight” areas of the text could lose relevance as companies leave the marketplace, but most appear to be currently relevant.

Clarity rating: 4

All exhibits are in black and white. I am not sure if this can be changed, but different colors of font or highlights might be appropriate when a new account or process is being displayed in the exhibit. The exhibits, however, seem to be very good and informational.

Consistency rating: 5

The book is consistent from chapter to chapter, with objectives coming first, then moving into the content. Key terms, questions, exercises, problems, case questions and group problems come at the end of the chapter. I especially like the group problems. I have my students work in small groups almost every day, so these short, content-specific group ideas will be useful for face-to-face classes or online group discussions.

Modularity rating: 5

The content is organized and easy-to-read. Information is given in small chunks of information, with exhibits and real world examples mixed into the reading material. Each section has its own set of questions to check for knowledge.

Organization/Structure/Flow rating: 5

The organization of the text is similar to most accounting textbooks I have used in the past, except for there is an omission of partnerships as a separate topic. The reason for this omission is explained in the first chapter. The authors omitted partnerships after surveying users and nonusers of their text because many small business owners do not operate as partnerships, but rather LLCs. So this text focuses on sole proprietorships and LLCs and only briefly discusses partnerships. Otherwise, the main concepts and flow of the book are very similar to most accounting textbooks, beginning with sole proprietorships and discussing inventory, payroll, etc. The book then moves to corporations, and ends with a few managerial accounting topics.

Interface rating: 4

It is only available in pdf format. A teacher could still link to the pdf within an online course, but a website for the book would likely help students access the book. The chapter titles in the table of contents are hyperlinks. When clicked, they take the viewer straight to the content.

Grammatical Errors rating: 5

I did not see any grammatical issues.

Cultural Relevance rating: 5

Accounting is typically not a topic that needs cultural references. The book should not be offensive to any culture.

Reviewed by Bangjun Wu, Accounting Instructor, Peralta Community College District on 1/1/20

This book covers materials taught in Financial Accounting and Managerial Accounting introductory courses. The table of contents contains links and can be clicked to reach specific sections. Key terms and excercises are provided at the end of each... read more

This book covers materials taught in Financial Accounting and Managerial Accounting introductory courses. The table of contents contains links and can be clicked to reach specific sections. Key terms and excercises are provided at the end of each chapter. Concepts are explained clearly. There are also "ethical perspectives" and "uses of technology" sections throughout the chapters.

I sampled chapters to review. The book appear to be accurate and unbiased in the sections I reviewed.

The concepts and examples in this book are still very relevant and applicable as of 2019, although this book appear to be written in 2009. If possible please update "Salary potential of accountants" in Chapter 1. Also recommend evaluate new accounting pronouncements in the last decade to see if any updates needed in Chapter 5, "The Major Principles" section.

Clarity rating: 5

The book is written in accessible language and provides adequate context for accounting jargon/technical terminologies used.

Chapters follow consistent layouts, which makes it easier for students to follow.

The book is divided into smaller reading sections within chapters indicated with bold blue-colored headings. These smaller sections are also indexed in the table of contents.

Organization/Structure/Flow rating: 4

The book is overall well organized in the flow of concepts. I do, however, feel that chapter 5 "Accounting Theory" as a single chapter may not be the most effective for students' learning purpose. Accurate and important as this chapter is, it is close to 40 pages of hard concepts. If the audience of this book is students who are just starting to learn accounting, this chapter may feel hard and dry. As an instrutor, I would highlight the revenue recoginition principle and matching principle in the section where I explain accounting transactions (chapter 2). As a textbook, i think it's more effective to list these concepts in high level within the first 3 chapters- not as a separate chapter, reference these concepts throughout the chapters wherever applicable, and maybe keep all the accounting theory section as an appendix.

Interface rating: 5

I didn't notice interface issues.

The book appear to be grammatically correct.

The text is not culturally insensitive or offensive

Congratualtions on a book well-written! I appreciate the efforts the authors put into the creation of this book. I especially applaude the ethical discussions and "uses of technology" in the chapters.

Reviewed by Dr. Susan Weiss, Assistant Professor, Rhode Island College on 12/1/19

The textbook covers two semesters of accounting principles courses--both financial and managerial. Includes all the major requirements for covering asset, liability and equity accounts; in addition, covers CVP analysis, job costing, differential... read more

The textbook covers two semesters of accounting principles courses--both financial and managerial. Includes all the major requirements for covering asset, liability and equity accounts; in addition, covers CVP analysis, job costing, differential analysis, even simplified variance analysis and capital budgeting. Truly, for the access, it is solid coverage in a basic foundation for business students.

In general, the book provides coverage in appropriate depth to support the needs of a first year accounting curriculum. In reviewing some of the aspects within the internal control chapter, for instance, there is appropriate emphasis on the Foreign Corrupt Practices Act as well as the Sarbanes-Oxley Act. The problems which support learning objectives are of adequate difficulty to challenge principles level students. On page 93, noted "Trail balance" was indicated instead of "Trial balance."

Relevance/Longevity rating: 5

Overall, the basic theory of financial accounting changes incrementally over time, responding to new GAAP requirements as indicated. Noted were a few indications of SFASs originally numbered; a suggestion would be to include the equivalent Accounting Standards Codification (ASC) section as it has been in use for approximately a decade now. The Use of Technology sections are excellent examples of applicability which would pique interest in students of management information systems, data analysis, and finance as well as accounting. An update to replace The Limited as a subject company in the financial accounting area would be an enhancement.

The grammatical accuracy lends itself to the clarity presented. There is appropriate jargon employed when necessary. There is less depth in delving into reasons for overhead variances as an example. Certainly, the emphasis at the principles level is primarily on basic application and calculation. However, the basis is appropriate for building further complexity at the Intermediate and higher levels.

The text appropriately invokes the terminology required and maintains consistency throughout the text. This is especially critical when providing information regarding managerial accounting, which is a cumulative learning process. Although there is some terminology that is used that is not exact, it is much less the case than other textbooks I have used and reviewed.

There is potential for exclusion of chapters to conform to schedule requirements for a course, even if a different text is used for managerial or principles. Also, if there is a desire or need to exclude certain chapters the textbook provides that flexibility.

The topics within the book are sequentially arranged much like prominent texts within the discipline. The sequential presentation makes sense from a theoretical perspective, both in the financial and managerial sections.

There are no noted interface issues.

Overall I found the book to be excellently written. Many textbooks today are written in quite colloquial language. Accounting is a discipline which requires compliance with regulations and principles as established by many agencies, governments, and conventionality. We must maintain and instill compliance among the student learners of today. To do so requires a specific level of vocabulary. This text exemplifies the appropriate level of grammar in which a professional would be expected to communicate.

Noted no issues with respect to culturally or socially sensitive topics.

There are a number of times in which accounting profession career opportunities, salaries, etc. are mentioned incrementally throughout the text. It is rather interesting to remind students of these facts during the course of their studies. The text also highlights the importance of certification, as well as the requirements. This is also refreshing as students may consider their future career path as they progress through the course and become acquainted with topics that interest them. An improvement that would perhaps encourage adoption is the accompaniment of a MOOC-based homework manager for a small fee.

Reviewed by Colleen Everts, Associate Professor, Franklin College on 1/22/19

This text covers all appropriate content areas I would expect to find in a Principles textbook. The chapters mirror closely the current textbook I am using. I appreciate that the index is linked so you can click on the chapter you want and it will... read more

This text covers all appropriate content areas I would expect to find in a Principles textbook. The chapters mirror closely the current textbook I am using. I appreciate that the index is linked so you can click on the chapter you want and it will take you right there. The addition of a responsibility accounting chapter is my favorite topical area that is not always covered in traditional texts but is gaining traction.

I did not read all chapters thoroughly, however, what I did read was accurate and unbiased.

The content is up-to-date and is arranged in a way in which updates would be easy to make. The emphasis on going outside the book and "surf the net" is practical and needed in today's world. The authors also include "ethical perspectives" throughout each chapter highlighting the importance of integrity and honesty and asks the reader to think about what they would do.

Clarity rating: 3

The text itself is clear, however some pages are completely text and do not include pictures, graphics, breaks, color etc... While the content is clear to me I fear that my students would struggle jumping into this book. The introduction and first chapter cover too much material and include too much accounting jargon so my students would feel overwhelmed. I like the review section at the end of the chapter that reiterates, again, the main points of the chapter in a slightly different way adding another layer of clarity for the reader.

The text is consistent from chapter to chapter and follows GAAP while referencing IFRS. Each chapter has the same structure making it easy for students to get in the flow.

Modularity rating: 4

The text is easily divisible, however the chapter contents are not clearly broken into learning objectives as stated at the beginning of each chapter. To be clear the content is broken up that way, just not labelled. It would be fairly easy to divide the content, it would just take a little more work to find the right page.

This text is organized in a logical manner consistent with other accounting textbooks. The text includes links in the index to the content making it easier to maneuver.

I did not find any issues with the display of the text.

I did not find any major grammatical errors.

I did not find the text be culturally insensitive. The examples use a variety of company names and pronouns.

I am thankful to have the option to use a free textbook in my classes. Tuition rates and student-debt continue to rise so any chance I have to cut the cost for my students removes a barrier to their success. I am hesitant to use this specific text in my class because the overall appeal is uninviting as well the overwhelming amount of information included in the first few chapters. I plan to look at other options or incorporate pieces of free texts into my class even just as supplemental material.

Reviewed by Mike Matousek, Instructor, Portland Community College - Portland OR on 8/2/18

The book was comprehensive and covered a wide breadth of topics. There was an extensive table of contents but no index or glossary provided. The comprehensiveness of the book actually was a bit of a negative from my perspective because the... read more

The book was comprehensive and covered a wide breadth of topics. There was an extensive table of contents but no index or glossary provided. The comprehensiveness of the book actually was a bit of a negative from my perspective because the on-ramp for students new to the subject was too steep, and I think my students would really struggle with being able to understand the material as deeply as it was presented almost from the very beginning of this text.

I did not notice any errors or biases in the content of the text. Examples and case studies seemed appropriate and correctly laid out and explained.

It seemed like the content was appropriately up to date and examples were relevant. The only thing that I noticed, and it may be a bit nit-picky, is that some really out of date years were used in the text as part of problems and examples. The oldest that I saw referred to 2009, which I guess isn't too bad but I'm used to seeing 201X as the year in the texts I regularly use.

Clarity of the text was OK. I thought the problems and examples were very well done but I did have a problem with the pacing of the material especially in the first few chapters. If these were early level accounting students I think they would have been lost in the first 3 chapters due to the complexity of the concepts introduced early in the text.

This appeared to be done well and I did not notice any inconsistencies.

The text read a lot like the texts I am currently using from major publishers. I thought the modularity of the text was probably its best feature as I found it easy to read, broken up well into sections with ample examples and sidebars. Very well done in my opinion.

Organization/Structure/Flow rating: 3

This was not terrible, but as I've already noted I thought the flow was off in the early chapters. It seemed too complex in the latter part of chapter 1 and through all of chapter 2 and the beginning of chapter 3. After that point it seemed to settle into a better pattern in terms of the flow, but by then I think many of my students would have been totally lost.

It looked like a very professionally laid out text and I did not notice anything in it that distracted or confused me in any way.

I did not notice any grammatical errors but admittedly I was skimming the material and not closely searching for them.

Cultural Relevance rating: 4

The text is not culturally insensitive. I did not notice a specific attempt to include a variety of backgrounds, although that can be somewhat difficult to include in accounting problems/scenarios without it seeming very forced. I thought the text was fine in this area.

I really enjoyed reading through this text. It was my first look at any open source material and I was surprised and impressed by the level of professionalism. I would not choose to use this book for my particular classes because of the complexity of the early "ramp-up" chapters, but I thought the problems, examples and overall layout of the material was excellent. It was far better than I expected and I look forward to reviewing and potentially using open source material in my classes in the future.

Table of Contents

• 1. Accounting and its use in business decisions
• 2. Recording business transactions
• 3. Adjustments for financial reporting
• 4. Completing the accounting cycle
• 5. Accounting theory
• 6. Merchandising transactions
• 7. Measuring and reporting inventories
• 8. Control of cash
• 9. Receivables and payables
• 10. Property, plant, and equipment
• 11. Plant asset disposals, natural resources, and intangible assets
• 12. Stockholders' equity: Classes of capital stock
• 13. Corporations: Paid-in capital, retained earnings, dividends, and treasury stock
• 14. Stock investments
• 15. Long-term financing: Bonds
• 16. Analysis using the statement of cash flows
• 17. Analysis and interpretation of financial statements
• 18. Managerial accounting concepts/job costing
• 19. Process: Cost systems
• 20. Using accounting for quality and cost management
• 21. Cost-volume-profit analysis
• 22. Short-term decision making: Differential analysis
• 23. Budgeting for planning and control
• 24. Control through standard costs
• 25. Responsibility accounting: Segmental analysis
• 26. Capital budgeting: Long-range planning

Ancillary Material

About the book.

Accounting Principles: A Business Perspective uses annual reports of real companies to illustrate many of the accounting concepts in use in business today. Gaining an understanding of accounting terminology and concepts, however, is not enough to ensure your success. You also need to be able to find information on the Internet, analyze various business situations, work effectively as a member of a team, and communicate your ideas clearly. This text was developed to help you develop these skills.

About the Contributors

Professor Roger H. Hermanson, PhD, CPA Regents Professor Emeritus of Accounting and Ernst & Young-J. W. Holloway Memorial Professor Emeritus at Georgia State University. He received his doctorate at Michigan State University in 1963 and is a CPA in Georgia. Professor Hermanson taught and later served as chairperson of the Division of Accounting at the University of Maryland. He has authored or coauthored approximately one-hundred articles for professional and scholarly journals and has coauthored numerous editions of several textbooks, including Accounting Principles, Financial Accounting, Survey of Financial and Managerial Accounting, Auditing Theory and Practice, Principles of Financial and Managerial Accounting, and Computerized Accounting with Peachtree Complete III. He also has served on the editorial boards of the Journal of Accounting Education, New Accountant, Accounting Horizons, and Management Accounting. Professor Hermanson has served as co-editor of the Trends in Accounting Education column for Management Accounting. He has held the office of vice president of the American Accounting Association and served on its Executive Committee. He was also a member of the Institute of Management Accountants, the American Institute of Certified Public Accountants, and the Financial Executives Institute.

Professor James D. Edwards, PhD , DHC, CPA J. M. Tull Professor Emeritus of Accounting in the Terry College of Business at the University of Georgia. He is a graduate of Louisiana State University and has been inducted into the Louisiana State University Alumni Federation's Hall of Distinction. He received his MBA from the University of Denver and his PhD from the University of Texas and is a CPA in Texas and Georgia. He has served as a professor and chairman of the Department of Accounting and Financial Administration at Michigan State University, a professor and dean of the Graduate School of Business Administration at the University of Minnesota, and a Visiting Scholar at Oxford University in Oxford, England.

Professor Edwards is a past president of the American Accounting Association and a past national vice president and executive committee member of the Institute of Management Accountants. He has served on the board of directors of the American Institute of Certified Public Accountants and as chairman of the Georgia State Board of Accountancy. He was an original trustee of the Financial Accounting Foundation, the parent organization of the FASB, and a member of the Public Review Board of Arthur Andersen & Co.

Professor Michael W. Maher, PhD , CPA Professor of management at the University of California at Davis. He is a graduate of Gonzaga University (BBA) and the University of Washington (MBA, PhD). Before going to the University of California at Davis, he taught at the University of Michigan and the University of Chicago. He also worked on the audit staff at Arthur Andersen & Co. and was a self-employed financial consultant for small businesses while attending graduate school.

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