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Fundamentals of Cost Accountin
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Student Edition
Instructor Edition
Fundamentals of Cost Accounting

Michael W. Maher, University of California at Davis Graduate School
William N. Lanen, University of Michigan
Madhav V. Rajan, Stanford University Graduate School of Business

ISBN: 0073018376
Copyright year: 2006

About the Authors



Michael Maher

Michael Maher is a Professor of Management at the University of California-Davis. He previously taught at the University of Michigan, the University of Chicago, and the University of Washington. He also worked on the audit staff at Arthur Andersen and Company and was a self-employed financial consultant for small businesses. He received his BBA from Gonzaga University, which named him Distinguished Alumnus in 1989, and his MBA and PhD from the University of Washington, and he earned the CPA from the state of Washington.

Michael is a past president of the Management Accounting Section of the American Accounting Association and has served on the editorial boards of The Accounting Review, Accounting Horizons, Journal of Management Accounting Research, and Management Accounting. He is coauthor of two leading textbooks, Cost Management, 3/e, and Managerial Accounting, 8/e. Maher has coauthored several additional books and monographs, including Internal Controls in U.S. Corporations and Management Incentive Compensation Plans, and published articles in many journals, including Management Accounting, The Journal of Accountancy, The Accounting Review, Journal of Accounting Research, Financial Executive, and The Wall Street Journal.

For his research on internal controls, Michael was awarded the American Accounting Association’s Competitive Manuscript Award and the AICPA Notable Contribution to Literature Award. He also received the award for the Outstanding Tax Manuscript. He received the Annual Outstanding Teacher Award three times from his students at the University of California’s Graduate School of Management and twice he has received a special award for outstanding service. Maher’s current research includes studies of the efficacy of online education, health care costs, and corporate corruption.

William Lanen

William Lanen is Professor of Accounting and Michael and Joan Sakkinen Scholar at the Stephen M. Ross School of Business at the University of Michigan Business School. He holds degrees in economics from the University of California, Berkeley and Purdue University and earned a PhD in accounting from the Wharton School of the University of Pennsylvania.

Bill teaches management accounting in both the BBA and MBA programs at the University of Michigan. He also teaches management accounting in Global MBA Programs and Executive Education Programs in Asia, Europe, and Latin America. Before coming to the University of Michigan, Bill was on the faculty at the Wharton School of the University of Pennsylvania where he taught various financial and managerial accounting courses at the undergraduate, MBA, and Executive MBA levels. He has received teaching awards at both the University of Michigan and the Wharton School.

Bill has served on the Editorial Board of The Accounting Review and the Journal of Management Accounting Research. He has published in Journal of Accounting Research, Journal of Accounting and Economics, Accounting, Organizations, and Society, and The Accounting Review. Bill is past-president of the Management Accounting Section of the American Accounting Association.

Madhav Rajan

Madhav Rajan is Gregor G. Peterson Professor of Accounting at the Graduate School of Business, Stanford University. Madhav joined Stanford GSB in 2001, after 12 years on the faculty of the Wharton School of the University of Pennsylvania. Madhav received his MS, MBA, and PhD in Accounting from Carnegie Mellon University. His dissertation won Carnegie Mellon’s Alexander Henderson Award for Excellence in Economic Theory.

Madhav is an editor of The Accounting Review and an associate editor for Management Science. He also serves on the editorial boards of three other academic journals. Madhav’s primary area of research interest is the economics-based analysis of issues in management accounting, using both analytical and empirical methodologies. His work has been published in leading journals in accounting, economics, finance, and operations management. In 2004, he received the American Accounting Association’s Notable Contribution to Management Accounting Literature award.

Madhav has taught courses in cost and managerial accounting at the undergraduate, MBA, PhD, and executive MBA levels. He has won numerous undergraduate and MBA teaching awards at Wharton and Stanford GSB, including the David W. Hauck Award, the highest undergraduate teaching honor at Wharton.


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