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Are you interested in identifying, measuring, analyzing, interpreting, and communicating information for the pursuit of an organization’s goals? Our Managerial Accounting course provides managers the tools needed to make the best decisions to achieve the goals of their organizations. Students will explore the building blocks of managerial accounting, standard costs and variances, budgeting, and performance measures. Our curriculum will encourage managers to not only use all quantitative tools and techniques available to them, but also logic, insight, judgment, and common sense.
Prerequisite(s): None
After completing this course, you should be able to:
- Define the fundamentals of cost-volume-profit analysis
- Identify the differences in cost flows among service, merchandising, and manufacturing enterprises
- Differentiate between job order costing and process costing
- Recognize aspects of responsibility accounting, including cost, profit, and investment centers
- Identify and use relevant costs and revenues in decision making
Managerial Accounting Module 1
Accounting as a Tool for Managers
- Responsibilities of Management
- Differentiate Between Financial vs. Managerial Accounting
- Roles and Skills of Managerial Accountants
- Ethical Standards
- Today’s Business Environment
- Institute of Management Accountants
Managerial Accounting Module 2
Building Blocks of Managerial Accounting
- Merchandising Organizations
- Manufacturing Organizations
- Service Organizations
- Basic Cost Behavior Patterns
- Activity Level for Unit Costs
- Functions of Cost Equations
- Scatter Graphs
Managerial Accounting Module 3
Cost-Volume-Profit Analysis
- Unit Contribution Margin
- Contribution Margin Ratio
- Evolution of Cost-Volume-Profit Relationships
- Break-Even Concepts
- Break-Even Sensitivity Analysis
- Margin of Safety
Managerial Accounting Module 4
Job Order Costing
- Job Order Costing vs. Process Costing
- Organization of Flow of Goods through Production
- Selling and Administrative Costs
- Recording Costs
- Direct Materials
- Direct Labor
- Manufacturing Overhead
- Indirect Labor
- Underapplied or Overapplied Overhead
Managerial Accounting Module 5
Process Costing
- Conversion Costs
- Mechanics of Applying Conversion Costs
- Total Cost Production in Initial Processing Stage
- Total Cost Production in Subsequent Processing Stage
- Journal Entries for Process Costing System
Managerial Accounting Module 6
Activity-Based, Variable, and Absorption Costing
- Predetermined Overhead
- Traditional Allocation Method
- Cost Drivers
- Activity-Based Product Costs
- Traditional and Activity-Based Costing Systems
- Variable and Absorption Costing
Managerial Accounting Module 7
Budgeting
- Why Managers Use Budgets
- Master, Operating, and Financial Budgets
- Prepare Operating Budgets
- Production and Direct Materials Budgets
- Prepare Financial Budgets
- Prepare Flexible Budgets
- Using Budgets to Evaluate Goals
Managerial Accounting Module 8
Standard Costs and Variances
- Fundamentals of Standard Costs
- Material Variances
- Labor Variances
- Overhead Variances
- How Companies Use Variance Analysis
Managerial Accounting Module 9
Responsibility Accounting and Decentralization
- Management Control System
- Centralization and Decentralization Organizations
- Daily and Strategic Decision-Making
- Responsibility Accounting
- Responsibility Centers
- Performance Evaluation of Responsibility Centers
Managerial Accounting Module 10
Short-Term Decision Making
- Avoidable vs. Unavoidable Costs
- Sunk Costs
- Opportunity Costs
- Accepting and Rejecting a Special Order
- Make or Buy
- Keep or Discontinue
- Sell or Process
Managerial Accounting Module 11
Capital Budgeting Decisions
- Capital Investment Decisions
- Non-Time Value Methods
- Accounting Rate of Return
- Time Value of Money
- Discounted Cash Flow Model
Managerial Accounting Module 12
Balanced Scorecard and Other Performance Measures
- Performance Measurement
- Limitations of Traditional Performance Measurement
- Effective Performance Measure
- Return on Investment
- Residual Income
- Economic Value Added
- Balanced Scorecard
**Outlines are subject to change, as courses and materials are updated.**
Ed4Career is committed to being both environmentally conscious and making it easier for you to study! We’re making your education mobile! All of our textbooks are now provided as eTextbooks. You can access them on your laptop, tablet, or mobile device and can study anytime, anywhere.
The move away from physical books to eTextbooks means you get the latest, most up-to-date version available. This also makes your training more accessible, so you can study anywhere you have your phone or tablet. The best part is that all materials are included in your training cost so there are NO extra fees for books!
Internet Connection
- Broadband or High-Speed - DSL, Cable, and Wireless Connections
*Dial-Up internet connections will result in a diminished online experience. Classroom pages may load slowly and viewing large audio and video files may not be possible.
Hardware Requirements
- Processor - 2GHz Processor or Higher
- Memory - 1 GB RAM Minimum Recommended
PC Software Requirements
- Operating Systems - Windows 7 or higher
- Microsoft Office 2013 or higher. Also, you could use a general Word Processing application to save and open Microsoft Office formats (.doc, .docx, .xls, .xlsx, .ppt, .pptx)
- Internet Browsers - Google Chrome is highly recommended
- Cookies MUST be enabled
- Pop-ups MUST be allowed (Pop-up Blocker disabled)
- The Kindle Reader App or VitalSource Bookshelf App are needed for many of our courses (No special equipment needed. This can be downloaded for FREE onto your computer.)
- PowerPoint Viewer (if you do not have PowerPoint)
- Adobe PDF Reader
- QuickTime, Windows Media Player &/or Real Player
MAC Software Requirements
- Operating Systems - Mac OS x 10 or higher with Windows
- Mac office programs or a Word Processing application to save and open Microsoft Office formats (.doc, .docx, .xls, .xlsx, .ppt, .pptx)
- Internet Browsers- Google Chrome is highly recommended
- Cookies MUST be enabled
- Pop-ups MUST be allowed (Pop-up Blocker disabled)
- The Kindle Reader App or VitalSource Bookshelf App are needed for many of our courses (No special equipment needed. This can be downloaded for FREE onto your computer.)
- PowerPoint Viewer (if you do not have PowerPoint)
- Adobe PDF Reader
- Apple QuickTime Media Player