Principles of Management ( Managerial) Accounting

Name: Principles of Management ( Managerial) Accounting
Rating: 4.0 (13 reviews)

Learn the Management Accounting Concepts that are a part of every university business program

Created byDr. John Daniel Mclellan

Last updated 3/2021

English

English [Auto],

What you'll learn

Know the different management accounting concepts
Be able to prepare a Cost Volume Profit Income Statement
Know how to conduct the high/low method for mixed costs
Be able to determine Breakeven in sales and sales required to achieve Target Net Income
Know how to interpret the Margin of Safety
Develop a Prepare the Master budget
Know how to Prepare a Cash Budget

Course content

10 sections • 19 lectures • 2h 21m total length

Management Accounting Overview1:57
Identify, measure, analyze, interpret, and communicate financial information to internal managers to support decision making, while cost accounting captures production costs to reduce spending and maximize profits.

Manufacturing Costs overview8:53
Explore manufacturing costs by defining cost objects and distinguishing direct materials, direct labor, and manufacturing overhead, then separate product costs from period costs and illustrate cost of goods manufactured.
Manufacturing Costs and Financial Statements13:25
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.

Cost Behaviour overview2:51
Analyze how costs change with activity through cost behavior analysis of variable, fixed, and mixed costs; apply the high-low method for planning and cost control.
CVP income ststement overview1:15
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.
Cost Behaviour7:16
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.
Test Your Understanding of Cost behavior0:01

Cost Volume Profit/Target Net Income/Margin of Safety0:50
Analyze cost behavior, fixed and variable costs, and how to split a mixed cost to predict break-even, target net income, and the contribution margin along with the margin of safety.
CVP analysis and Target Net Income1:48
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.
Cost Volume Profit14:47
Assignment on Cost Volume Profit Analysis

Sales mix overview1:15
Calculating Break even for a multi product company using sales mix18:29
With the weighted average contribution margin we can now calculate the breakeven for companies that sell more than one product
Cost Structure and its effect on leverage7:47
Explore how fixed and variable costs shape cost structure, operating leverage and profitability, showing contribution margin, break-even, risk, and degree of operating leverage.

Budget Control15:29
Learn how managers use static and flexible budgets to compare actual results with planned goals. Analyze variances and drive corrective actions through formal budget reports for each department.
Responsibility Accounting18:02
Define responsibility accounting and identify cost, profit, and investment centers within a decentralized organization. Evaluate performance using controllable costs, budgets, management by exception, and ROI metrics to drive accountability.

Requirements

Excel Spreadsheets

Description

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

Who this course is for:

Anyone who wants to understand management tools and techniques
Anyone wanting to improve their management knowledge

Principles of Management ( Managerial) Accounting

What you'll learn

Explore related topics

Course content

Management & Management accounting1 lecture • 2min

Module 1 - Introduction to managerial accounting1 lecture • 12min

Manufacturing Costs and Financial Statements2 lectures • 22min

Test Your Understanding on Manufacturing Costs0

Introduction to Planning Tools1 lecture • 1min

Module 2 - Cost Behaviour and the Contribution Margin4 lectures • 11min

Cost Volume Profit/Target Net Income/Margin of Safety3 lectures • 17min

Module 4 -Know how to perform Multi product Break even Analysis3 lectures • 28min

Module 5 - Budget Planning2 lectures • 15min

Budget Control & Responsibility Accounting2 lectures • 34min

Requirements

Description

Who this course is for: