Abstract The article focuses on the changed that occurred in the theory and practice of cost accounting in past academic years in the U.S. The author presents his own experience of teaching in past 32 years. He remarks that as a student, his first course in cost accounting in 1947 was similar to those taught in universities throughout the world. It was a plodding excursion through product costing for the primary purpose of inventory valuation and income determination. Managerial accountants often complain that the current curricula in accounting overemphasize financial accounting. According to the author the overemphasis on financial accounting was even more pronounced In the 1940s. He believes that today's students still have traumas, but in different form Students are probably learning linear programming, regression analysis or reciprocal cost allocations and then discovering that such techniques are rarely used. The author remarks that his experiences in teaching had a heavy influence on his thinking.
Charles T. Horngren (Fri,) studied this question.