BSBAAL surprised at holes in heads of students he drilled in financial accounting
BSBAALSR, the incarnation of business school quantity combined with alleged-quality, does put significant emphasis on the fields of management accounting and financial accounting, although not as much as he does on this seven more favored subjects in MBA education. He emphasizes the two about equally.
BSBAALJR, the incarnation of business schools in general, talks about financial accounting more than he talks about management accounting, but he reads up on management accounting at least as much as he does on financial accounting.
BSBAALJR puts more emphasis on books that the book-world considers to be in the "management accounting" field, books that stray from the essence of management accounting, than he does on books that come closer to the essence of "management accounting". For example he reads Valuation: "Measuring and Managing the Value of Companies, 3rd Edition" by McKinsey & Company Inc., et al (Hardcover - July 28, 2000) ( http://www.amazon.com/exec/obidos/ASIN/0471361909/ ) and "Against the Gods: The Remarkable Story of Risk" by Peter L. Bernstein (Paperback - August 31, 1998) ( http://www.amazon.com/exec/obidos/ASIN/0471295639/002-6320582-2337641 ) more than he reads the book that he pays the most attention to amongst books that have to do with the essence of management accounting, which is "Cost & Effect: Using Integrated Cost Systems to Drive Profitability and Performance" by Robert S. Kaplan of the Harvard B-skool, and Robin Cooper (Hardcover - October 1, 1997) ( http://www.amazon.com/exec/obidos/ASIN/0875847889/002-6320582-2337641 ) .
The Mckinsey book deals with utilizing financial accounting reports of companies from an outside investor's eye perspective, and the Bernstein book is a history of probability theory.
BSBAALJR'S top gurus seem to contradict each other. The book he favors the most amongst the books the book world considers to be in the the management accounting field, is "Valuation: Measuring and Managing the Value of Companies", by Mckinsey (2000) which takes an outside perspective, utilizing financial created-by-companies-for-the-outside-world, required-by-law, external accounting records, to determine whether those companies are good investments for an investor.
BSBAALJR's favorite books that is in the center rather than the periphery of the management accounting sphere is "Cost & Effect" by Kaplan (1997), which bemoans the fact that management accounting is too closely wedded to its mother financial accounting. His second-favorite book close to the center of the management accounting sphere is "Relevance Lost" by Johnson (1991) ( http://www.amazon.com/exec/obidos/ASIN/0875842542/ ), which likewise wrings its hands about how managerial accounting is too closely wedded to its mother financial accounting.
Why does BSBAALJR veer off into financial-acccounting-based securities analysis by studying the McKinsey book, while his guru's favorite texts bemoan the fact that management accounting is wedded to its mother financial accounting?
BSBAALJR's take on financial analysis, finance, and management accounting, is at its CORE heavily based on looking at companies from the perspective of an outside, financial-accounting-oriented investor, even though BSBAALJR proclaims that companies should use financial analysis, finance, and management accounting, to wisely improve their short and long term prospects, and even though, most companies are not in the business of loaning money to other companies and buying into their stocks.
Then BSBAALJR discovers to his surprise that the products of his schools, practice a management accounting methodology that is too financial-accountant-like.
One suspects (see http://cbdd.wsu.edu/kewlcontent/cdoutput/TOM505/page11.htm) that BBAALJR, is in a state of terminological confusion regarding the difference between financial accounting and management accounting. BSBAALJR talks about financial accounting twice as much as he talks about management accounting, but he reads up on management accounting more than he reads up on financial accounting.
BSBAALJR pays alot of attention, more attention than he pays to management accounting, to a book that the bookworld labels as being in the "management accounting" subject, a book that should have been labeled as being in the "securities analysis" subject. His definitions of financial analysis, finance, and financial management, mix into each other in a kind of melting pot.
BSBAALJR at his core has had a habit of being preoccupied with financial accounting due to his emphasis on the extraordinary investment-banking perspective; he goes on to produce management accountants that are too financial-accountant-like; he reads to his fascinated surprise that the management accountants he has produced are too financial-accountant-like; and then he continues to be pre-occupied with the investment-banking investor's eye view that looks at financial-accounting-based reports generated by companies for the outside world, from an external perspective.
In the field of management accounting, BSBAALJR again shows his characteristic reluctance to dip his toe into the hard-headed cold water of a field. He pays more attention to Kaplan's analysis ("Cost and Effect") of why certain companies have screwed up by being behind the ball on management accounting, than he does to his primary basic financial management how-to text, " Management Accounting, Fourth Edition" by Anthony A. Atkinson, et al (R(Hardcover - July 28, 2003) which Atkinson wrote with Robert Kaplan, who also wrote the "Cost to Effect" text.
Kaplan's Cost and Effect book, tells us that many companies have damaged themselves by being behind the eight-ball on innovations in cost-accounting and management accounting. I myself could have told you the same thing, without looking at any data. It is always true, that some companies screw themselves up by being behind the eight-ball in some facet of corporate life.
Since the industrial revolution it has always been true, that fate has frowned upon those companies that have not kept up with innovation. The only thing superficially surprising in Kaplan's "revelation" is that companies infested by the graduates of BSBAALJR's schools, chould for so long be so backwards and old-fashioned with regards to innovation in managerial accounting. But then again, such is not really surprising.
When BSBAALJR finally gets into the nitty-gritty how-to of management economics, he gets into Atkinson's "Management Accounting, Fourth Edition" ( http://www.amazon.com/exec/obidos/tg/detail/-/0130082171?v=glance ) which Robert Kaplan, who wrote "Cost and Effect", BSBAALJR's favorite management accounting text, co-authored. Four of the twelve reviews of this BSBAALJR favorite "Management Accounting Fourth Edition" at amazon.com were positive. Two of these positive reviews were identical, and by the same person, "Sung-Han Lee". Another of the positive reviews was by (Pakistani?) Azhar Laldin. The nine negative reviews of this book reminded me of the negative reviews of the Brealey book on finance favored by BSBAALJR; I think I detect a PATTERN. Here are some of these negative reviews ( http://www.amazon.com/gp/product/customer-reviews/0130082171/ref=cm_cr_dp_2_1/002-6320582-2337641?%5Fencoding=UTF8&customer-reviews.sort%5Fby=-SubmissionDate&n=283155 ):
This book WAS NOT better the second time around, November 10, 2004
Reviewer: Brian L. Alston "brian4.com" (Phoenix, AZ USA) - See all my reviews
Very hard to read and understand. Each chapter has Learning Objectives and those LO's are referenced for the questions at the end. The problem is: inside the chapter there is no way to find out what the LO's are!!! Me and a friend tried to figure it out but it was almost impossible. A lot of the chapter questions were very difficult. Several spelling errors that a sixth grader could have found. I had a Managerial Accounting class twice, once as a prerequisite for my graduate degree and I am taking it now for my MBA. Imagine my horror when I discovered that I was using this same book twice. I hope you never get stuck with this turkey of a book.
The worst textbook I've ever had!!!, February 16, 2004
Reviewer: John (Toronto, ON) - See all my reviews
This book is terrible in addition to being ridiculously expensive ($108 to be exact). I had to buy it for an MBA course in Managerial Accounting and found it to be extremely confusing, without structure and ambiguous. There are numerous errors, omissions, and the examples are not clear at all. It's really too bad such a poor text was chosen because I am certain that others, like myself, have been turned off of management accounting forever. It's too bad because management accounting is such an integral part of business and deserves much better attention, and clarity than this book provides. I can't wait to "try" to sell this one. Definitely not a keeper! If you have to buy this book for your course, I truly empathize with you.
Too expensive, Junk and waste of Money, July 7, 2003
Reviewer: P. Chari "PC" (Colorado) - See all my reviews
I cant believe Professionals cant explain topics in a easy words. Trying to use grandma stories and without explaining where numbers come its impossible to understand. 1) explanations are not good at all very confusing if you are a beginner. 2) Examples are like grandma tale and will make you sleepy. 3) dull and boring. 4) the authors need to put them self in the students shoes rather than assuming they are teaching a CPA. I would recommend Schaums Series or barrons series for learning, Its easy and also easy on your wallet...compared to this...
Just awful ! Invest in a good supplemental book/study guide, March 2, 2003
Reviewer: A reader
My gosh, I have never read such a poorly written book! Wasn't there an editor at Prentice Hall to have, at least, reviewed this book prior of it going out to print? The poor grammar usage, the garble & ambiguity of explaing the concepts; it truly lacks direction...where are the solutions to the problem exercises? I consider myself a strong avid reader, but I have found myself re-reading a page or two before pressing on. If this is a required textbook for your accounting class, I highly suggest investing in a good supplemental study guide to aid you with this book. Good luck!!
@2005 David Virgil Hobbs
This is my opinion at the present time, which may not coincide exactly with fact.
BSBAALJR, the incarnation of business schools in general, talks about financial accounting more than he talks about management accounting, but he reads up on management accounting at least as much as he does on financial accounting.
BSBAALJR puts more emphasis on books that the book-world considers to be in the "management accounting" field, books that stray from the essence of management accounting, than he does on books that come closer to the essence of "management accounting". For example he reads Valuation: "Measuring and Managing the Value of Companies, 3rd Edition" by McKinsey & Company Inc., et al (Hardcover - July 28, 2000) ( http://www.amazon.com/exec/obidos/ASIN/0471361909/ ) and "Against the Gods: The Remarkable Story of Risk" by Peter L. Bernstein (Paperback - August 31, 1998) ( http://www.amazon.com/exec/obidos/ASIN/0471295639/002-6320582-2337641 ) more than he reads the book that he pays the most attention to amongst books that have to do with the essence of management accounting, which is "Cost & Effect: Using Integrated Cost Systems to Drive Profitability and Performance" by Robert S. Kaplan of the Harvard B-skool, and Robin Cooper (Hardcover - October 1, 1997) ( http://www.amazon.com/exec/obidos/ASIN/0875847889/002-6320582-2337641 ) .
The Mckinsey book deals with utilizing financial accounting reports of companies from an outside investor's eye perspective, and the Bernstein book is a history of probability theory.
BSBAALJR'S top gurus seem to contradict each other. The book he favors the most amongst the books the book world considers to be in the the management accounting field, is "Valuation: Measuring and Managing the Value of Companies", by Mckinsey (2000) which takes an outside perspective, utilizing financial created-by-companies-for-the-outside-world, required-by-law, external accounting records, to determine whether those companies are good investments for an investor.
BSBAALJR's favorite books that is in the center rather than the periphery of the management accounting sphere is "Cost & Effect" by Kaplan (1997), which bemoans the fact that management accounting is too closely wedded to its mother financial accounting. His second-favorite book close to the center of the management accounting sphere is "Relevance Lost" by Johnson (1991) ( http://www.amazon.com/exec/obidos/ASIN/0875842542/ ), which likewise wrings its hands about how managerial accounting is too closely wedded to its mother financial accounting.
Why does BSBAALJR veer off into financial-acccounting-based securities analysis by studying the McKinsey book, while his guru's favorite texts bemoan the fact that management accounting is wedded to its mother financial accounting?
BSBAALJR's take on financial analysis, finance, and management accounting, is at its CORE heavily based on looking at companies from the perspective of an outside, financial-accounting-oriented investor, even though BSBAALJR proclaims that companies should use financial analysis, finance, and management accounting, to wisely improve their short and long term prospects, and even though, most companies are not in the business of loaning money to other companies and buying into their stocks.
Then BSBAALJR discovers to his surprise that the products of his schools, practice a management accounting methodology that is too financial-accountant-like.
One suspects (see http://cbdd.wsu.edu/kewlcontent/cdoutput/TOM505/page11.htm) that BBAALJR, is in a state of terminological confusion regarding the difference between financial accounting and management accounting. BSBAALJR talks about financial accounting twice as much as he talks about management accounting, but he reads up on management accounting more than he reads up on financial accounting.
BSBAALJR pays alot of attention, more attention than he pays to management accounting, to a book that the bookworld labels as being in the "management accounting" subject, a book that should have been labeled as being in the "securities analysis" subject. His definitions of financial analysis, finance, and financial management, mix into each other in a kind of melting pot.
BSBAALJR at his core has had a habit of being preoccupied with financial accounting due to his emphasis on the extraordinary investment-banking perspective; he goes on to produce management accountants that are too financial-accountant-like; he reads to his fascinated surprise that the management accountants he has produced are too financial-accountant-like; and then he continues to be pre-occupied with the investment-banking investor's eye view that looks at financial-accounting-based reports generated by companies for the outside world, from an external perspective.
In the field of management accounting, BSBAALJR again shows his characteristic reluctance to dip his toe into the hard-headed cold water of a field. He pays more attention to Kaplan's analysis ("Cost and Effect") of why certain companies have screwed up by being behind the ball on management accounting, than he does to his primary basic financial management how-to text, " Management Accounting, Fourth Edition" by Anthony A. Atkinson, et al (R(Hardcover - July 28, 2003) which Atkinson wrote with Robert Kaplan, who also wrote the "Cost to Effect" text.
Kaplan's Cost and Effect book, tells us that many companies have damaged themselves by being behind the eight-ball on innovations in cost-accounting and management accounting. I myself could have told you the same thing, without looking at any data. It is always true, that some companies screw themselves up by being behind the eight-ball in some facet of corporate life.
Since the industrial revolution it has always been true, that fate has frowned upon those companies that have not kept up with innovation. The only thing superficially surprising in Kaplan's "revelation" is that companies infested by the graduates of BSBAALJR's schools, chould for so long be so backwards and old-fashioned with regards to innovation in managerial accounting. But then again, such is not really surprising.
When BSBAALJR finally gets into the nitty-gritty how-to of management economics, he gets into Atkinson's "Management Accounting, Fourth Edition" ( http://www.amazon.com/exec/obidos/tg/detail/-/0130082171?v=glance ) which Robert Kaplan, who wrote "Cost and Effect", BSBAALJR's favorite management accounting text, co-authored. Four of the twelve reviews of this BSBAALJR favorite "Management Accounting Fourth Edition" at amazon.com were positive. Two of these positive reviews were identical, and by the same person, "Sung-Han Lee". Another of the positive reviews was by (Pakistani?) Azhar Laldin. The nine negative reviews of this book reminded me of the negative reviews of the Brealey book on finance favored by BSBAALJR; I think I detect a PATTERN. Here are some of these negative reviews ( http://www.amazon.com/gp/product/customer-reviews/0130082171/ref=cm_cr_dp_2_1/002-6320582-2337641?%5Fencoding=UTF8&customer-reviews.sort%5Fby=-SubmissionDate&n=283155 ):
This book WAS NOT better the second time around, November 10, 2004
Reviewer: Brian L. Alston "brian4.com" (Phoenix, AZ USA) - See all my reviews
Very hard to read and understand. Each chapter has Learning Objectives and those LO's are referenced for the questions at the end. The problem is: inside the chapter there is no way to find out what the LO's are!!! Me and a friend tried to figure it out but it was almost impossible. A lot of the chapter questions were very difficult. Several spelling errors that a sixth grader could have found. I had a Managerial Accounting class twice, once as a prerequisite for my graduate degree and I am taking it now for my MBA. Imagine my horror when I discovered that I was using this same book twice. I hope you never get stuck with this turkey of a book.
The worst textbook I've ever had!!!, February 16, 2004
Reviewer: John (Toronto, ON) - See all my reviews
This book is terrible in addition to being ridiculously expensive ($108 to be exact). I had to buy it for an MBA course in Managerial Accounting and found it to be extremely confusing, without structure and ambiguous. There are numerous errors, omissions, and the examples are not clear at all. It's really too bad such a poor text was chosen because I am certain that others, like myself, have been turned off of management accounting forever. It's too bad because management accounting is such an integral part of business and deserves much better attention, and clarity than this book provides. I can't wait to "try" to sell this one. Definitely not a keeper! If you have to buy this book for your course, I truly empathize with you.
Too expensive, Junk and waste of Money, July 7, 2003
Reviewer: P. Chari "PC" (Colorado) - See all my reviews
I cant believe Professionals cant explain topics in a easy words. Trying to use grandma stories and without explaining where numbers come its impossible to understand. 1) explanations are not good at all very confusing if you are a beginner. 2) Examples are like grandma tale and will make you sleepy. 3) dull and boring. 4) the authors need to put them self in the students shoes rather than assuming they are teaching a CPA. I would recommend Schaums Series or barrons series for learning, Its easy and also easy on your wallet...compared to this...
Just awful ! Invest in a good supplemental book/study guide, March 2, 2003
Reviewer: A reader
My gosh, I have never read such a poorly written book! Wasn't there an editor at Prentice Hall to have, at least, reviewed this book prior of it going out to print? The poor grammar usage, the garble & ambiguity of explaing the concepts; it truly lacks direction...where are the solutions to the problem exercises? I consider myself a strong avid reader, but I have found myself re-reading a page or two before pressing on. If this is a required textbook for your accounting class, I highly suggest investing in a good supplemental study guide to aid you with this book. Good luck!!
@2005 David Virgil Hobbs
This is my opinion at the present time, which may not coincide exactly with fact.
posted by David Virgil at 1:56 AM
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