
This lecture covers the roles that a manager performs and how management accounting concepts help the manager perform those roles
Analyze manufacturing costs by category—direct materials, direct labor, and overhead. Distinguish product costs from period costs, compute cost of goods manufactured, and map inventories within the value chain.
Cvp income statement shows how changes in costs and volume affect profit, highlighting variable and fixed costs and guiding decisions on product mix, prices, and production facilities via contribution margin.
Reformat the income statement into a CVP format to reveal cost behaviour by separating fixed and variable costs, using contribution margin per unit to predict profit.
Explore break-even analysis to determine production or sales levels, compute target net income, and assess the margin of safety using fixed costs and contribution margin.
With the weighted average contribution margin we can now calculate the breakeven for companies that sell more than one product
Management accounting, also called managerial accounting or cost accounting, is the process of analyzing business costs and operations to prepare internal financial report, records, and account to aid managers’ decision making process in achieving business goals. In other words, it is the act of making sense of financial and costing data and translating that data into useful information for management and officers within an organization.
In this course, we cover the many Management Accounting concepts that are covered in Managerial ( Management) Accounting university course.
Learn and Master Each Management Accounting Tool and Technique.
Understand what managerial accounting is about and how differs from financial accounting
Know what the different roles that managers perform.
Know the three different manufacturing costs
Know the difference between product costs and period costs.
Develop a cost volume profit income statement
Understand how costs change when sales changes
Calculate break-even and target profit levels
Develop a CVP analysis for a multi-product company
Understand operating leverage, how to calculate it and what it means to senior management
Know how a job costing system works.
Complete a Job Costing accounting system using excel spreadsheets.
Design an activity-based costing system using excel spreadsheets.
Develop an activity-based accounting model
Understand activity-based management
Prepare a Master Budget using excel spreadsheets to plan business operations.
Know how to use the Flexible Budget to control operations.
Student Comments: "Great course, I have learned so much more than I did from my professor at school." Aaron Morgan
"very good explaining dr" Sabah