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A strength of this book is that there are many color diagrams throughout which illustrate/highlight the material. The treatment of process cost accounting is thorough and highly simplified with many detailed examples to illustrate the computation of equivalent units. In process cost accounting, it is critical to understand the physical flow of costs, as well as, interdepartmental transfers and modified cost assumptions. In addition, there is a thorough treatment of managerial cost accounting in the areas of discounted cash flow, internal rate of return, compounding, depreciation and cash flow, net present value, uncertainty, inflation, capital budgeting, payback and the accounting rate of return. Lastly, there is a good treatment of decentralization and transfer pricing.

The book is worth the price of admission. Classic problems from this text have been replicated on some form or another on professional and collegiate standardized tests. This work helps to support what is taught in a collegiate finance course, as well as the cost accounting element.

The thrust of a cost accounting course is for the B or better student. There is a fair amount of work in this course.As such, it is geared for accounting, finance or economics majors. Quantitatively oriented students will enjoy the presentation as well as a wide constituency of teachers in academe. Even college administrators would find this text useful for preparing budget schedules and interdepartmental cost analyses. Engineering companies would benefit by having a detailed analyses of process costing and managerial accounting on individual construction jobs.