Introduction



Introduction

This Student Guide is a self-study aid to accompany the 11th edition of Cost Accounting: A Managerial Emphasis, by Horngren, Datar, and Foster. It has three purposes: (1) to reinforce and clarify your understanding of the textbook material, (2) to develop your analytical thinking skills, and (3) to help you review for exams effectively. I designed the Student Guide to provide maximum benefit from your study time.

Each Student Guide chapter has the following sections:

• Overview is a one-paragraph description of the textbook chapter.

• Review Points is a comprehensive summary of the chapter presented in an easy-to-read paragraph style, with the textbook “Terms to Learn” in bold type.

• Featured Exercise covers key points in the textbook assignment material.

• Review Questions and Exercises consist of completion statements, true-false and multiple choice questions, short exercises, and an occasional crossword puzzle. They challenge you to apply the concepts in the chapter. Most chapters include at least five questions/exercises from the Certified Public Accountant (CPA) and Certified Management Accountant (CMA) exams.

• Answers to Review Questions and Exercises allow you to check your work. In addition to the basic answers, this section provides concise explanations for each false statement and all multiple-choice answers, and easy-to-follow solutions to the exercises.

How to Use the Student Guide

I recommend a six-step approach for using the Student Guide with the textbook:

1. Study the chapter in the textbook and solve the Problem for Self-Study included there.

2. Read the Overview and Review Points sections in the Student Guide. Because the Review Points section specifically refers to only the most essential textbook exhibits and examples (an average of three per chapter), the Student Guide can almost be used in a stand-alone way at this stage of your study.

3. Prepare your solution to the Featured Exercise in the Student Guide and compare it to the solution provided there.

4. Answer the Review Questions and Exercises in the Student Guide and compare your answers with those provided at the end of the chapter. (Check Figures for the exercises are at the end of the Student Guide.)

• Resist the temptation to look at the answers before preparing your own! This approach keeps you from developing a false sense of confidence about your knowledge of the material.

• When your answers to an exercise do not agree with the Check Figures, first try reworking the exercise before you look at the complete solution.

5. Solve the homework problems assigned by your professor.

6. Use the Student Guide to review for exams. Concentrate on the Featured Exercises as well as the Review Questions and Exercises that you found most difficult.

As you study cost accounting, keep in mind that there is no substitute for hard work and a desire to learn. These qualities are key to your success.

Acknowledgments

For ideas and assistance, I am indebted to the textbook authors, Jim Payne of The University of Tulsa, Richard Metcalf of the University of Arizona, numerous students (especially Sheryl Powers of The University of Tulsa), and Thomas Sigel of Prentice Hall. I thank Mary Nelson for her expertise in preparing the camera-ready copy. I also thank the American Institute of Certified Public Accountants and the Institute of Certified Management Accountants for permission to use their professional examination questions.

John K. Harris

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