The second edition of Dr. Demski’s book reflects his experiences teaching undergraduates, masters and doctoral students. It is the first textbook in this area to offer an academic perspective. Dr. Demski emphasizes economic fundamentals as the guiding foundation coupled with an artful application of those fundamentals. This applies to product costing, decision making and evaluation art. A great deal of traditional minutiae has been removed by the author, in order to keep this theme in constant focus. This thematic approach, in his experience, works in dramatic fashion, and stands in sharp contrast to more traditional presentations of this material. The book is not only for use as textbook but also as a reference book. A solutions manual for instructors will be easily obtainable on Dr. Demski's website.

Professor Demski has focused on disclosure incentives and optimal contracting. Professor Demski has served on the faculty of Columbia University (1967 - 68), Stanford University (1968 - 1985), and Yale University (1985 - 1994). He has been recognized a number of times for Outstanding Research and Education and received an AAA Seminal Contribution Award in 1994. Professor Demski is noted as one of the most widely published authors in the field with over eighty articles published.

Honors and Grants: Honorary Doctorate, Odense University, 1994; AAA Seminal Contribution Award, 1994; Elm-lvy Award, 1989; AAA Outstanding Educator Award, 1986;AICPA Award for Outstanding Contributions to the Accounting Literature, 1967 and 1970; Notable Contribution to Management Accounting Literature Award, 1996; University of Florida Foundation Research Professorship (2000, 2002); Accounting Hall of Fame, 2000; President, American Accounting Association, 2001-2001.