Learn the basics of managerial accounting to help you make better organizational decisions.
Overview
Syllabus
Introduction
- Making business decisions through good accounting
- Introduction to managerial accounting
- The purpose of managerial accounting
- Recognizing problems and opportunities
- Controlling and evaluating data
- Understanding sunk costs
- Cost-volume-profit (CVP) analysis
- Controlling product cost flows
- Types of product costs
- Terms related to evaluation and decision-making
- Opening a Thai restaurant
- Contribution margin
- The CVP equation
- The break-even point
- Sensitivity analysis
- Sales mix
- Understanding production costs
- Overview of cost control
- Cost flows in manufacturing organizations
- Cost flows in merchandising organizations
- Cost flows in service firms
- Pricing a home remodel
- Responsibility accounting and the standard cost system
- Variances in materials price and quantity
- Labor rate and efficiency variances
- Controlling materials and labor variances
- The real cost of ice cream
- Introduction to activity-based costing
- The basics of activity-based costing
- Identifying overhead cost activities
- Analyzing overhead
- Identifying cost drivers
- Assigning production overhead
- Doing the math to influence your decisions
- Who needs a budget?
- The purpose of budgeting
- Budgeting for a manufacturing organization
- Budgeting for a merchandising organization
- Budgeting for a service organization
- Having a cash budget
- The billion-dollar machine
- Understanding capital budgeting
- Discounting cash flows
- The payback method
- The unadjusted rate of return method
- The net present value (NPV) method
- The internal rate of return method
- Considering qualitative factors
- Key takeaways
Taught by
Jim Stice and Kay Stice