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Know how get an "A" in your Management Accounting 101

Expert help and advice for you in your management accounting course. I will be constantly updating this course.
4.2 (11 ratings)
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1,112 students enrolled
Last updated 5/2016
English
$30
30-Day Money-Back Guarantee
Includes:
  • 8 hours on-demand video
  • 8 Articles
  • 66 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What Will I Learn?
Know how to Describe the role of budgeting in the planning, control, and resource allocation process and develop different types of budgets using spreadsheets
Know how to Apply the concept of responsibility accounting in managerial performance evaluation
Know how to Apply the concepts of management accounting to the various activities in the organization by analyzing different types of costs and use them in decision making situations
Know how to Identify relevant costs and use the Incremental Analysis in decision making process to support the decision making process
Get an "A" in your Management Accounting College or University course.
Improve your GPA by getting an A+ in Accounting
Understand how different costs behave as business activity increases. Fixed Costs. Variable costs and Mixed costs.
Be ab;e to use the cost/volume/profit model to predict future profits.
Understand cost accounting - both job cost and process costing methods.
Perform incremental analysis in special order decision making.
Understand relevant costing in the decision making process.
Apply the concept of responsibility accounting in managerial performance evaluation
View Curriculum
Requirements
  • Students need to know financial accounting and how to use basic Excel
  • Students should have a basic knowledge on introductory financial accounting.
Description

In this course, we cover the many Management Accounting tools and techniques that would be part of a Managerial ( Management) Accounting university course. We cover such topics as budgeting, activity based costing, cost volume profit analysis, incremental analysis, relevant cost analysis and the Balanced Scorecard.. There are many problems with video solutions. I will be continuing to add problems for you to practice.

Learn and Master Each Management Accounting Tools and Techniques.

  • Understand how costs change when sales changes
  • 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.
  • Solve Make or Buy decisions using Incremental analysis.
  • Solve Special Order decisions using incremental analysis.
  • Solve Equipment Replacement questions using relevant cost analysis.
  • Prepare a Master Budget using excel spreadsheets to plan business operations.
  • Know how to use the Flexible Budget to control operations.
  • Perform Budget variance analysis.
  • Understand the Balanced Scorecard and how it used in evaluating performance.

 There are a number of excel projects on costing systems and budgeting and practice midterm and final exams with marking keys that highlight where an exam marker will award you marks. You can mark yourself.

If you can get an "A+" on the midterm and final exams in this course - you'll get an A from your accounting prof.

Who is the target audience?
  • Those who want to be "A" students
  • College and university students taking an introductory management or managerial accounting course.
  • Business people who have business experience and want to understand more about planning and controlling of business operations and be able to make more informed business decisions.
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Curriculum For This Course
Expand All 86 Lectures Collapse All 86 Lectures 08:51:53
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Know how to Distinguish between Management Accounting & Financial Accounting
6 Lectures 31:14

We begin this course by explaining the differences between  management (managerial) accounting and financial accounting. You are familiar with the financial accounting  system and are probably  asking -  how is management accounting different. The short answer is that financial accounting deals with past events; whereas management accounting deals with future events.

Preview 04:46

You now know that management accounting comprises a number of tools and techniques that help management plan and control operations.

Topic #1 A - Overview of Management Accounting purposes
05:56

Management accounting has many terms that managers use and you must understand both the meaning and the purpose.

You will be tested on your understanding of these management accounting terms.

Preview 09:06

We go over a number of multiple choice questions that I have chosen to highlight the major concepts.

Level A questions test your knowledge of the concepts in this section.

You can download the questions and try them before viewing the video or you can keep pausing the video and answer before I do,

Test Your Understanding - Level A (knowledge questions)
04:02

Showme Problem #1
04:42

We go over a number of multiple choice questions that I have chosen to highlight the major concepts.

 and test your understanding.

Level B questions are designed to test your ability to apply the management concepts in this section.

You can download the questions and try them before viewing the video or you can keep pausing the video and answer before I do,



Preview 02:42
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Manufacturing Costs and a Manufacturer's Financial Statements
8 Lectures 51:52

Know the three classifications of manufacturing costs - Direct Material, Direct Labor and Manufacturing Overhead.

Preview 05:53

It is very important to know how to distinguish between a product or inventoriable cost and a period cost

Topic #2 Product Costs vs Period Costs
07:15

Know how to distinguish between a Merchansiing Company and a Manufacturing Company

Preview 06:01

We go over a number of multiple choice questions that I have chosen to highlight the major concepts.

Level A questions test your knowledge of the concepts in this section.

You can download the questions and try them before viewing the video or you can keep pausing the video and answer before I do,

Preview 04:17

Try these excel problems. Download from resources. After completing - check video.

Showme Problem #1
08:03

Try these excel problems on manufacturing statements. Download from resources. After completing - check video.
Showme Problem #2
15:00

Test yourself on management accounting terms

Problems on Manufacturing Costs
5 pages

We go over a number of multiple choice questions that I have chosen to highlight the major concepts.

 and test your understanding.

Level B questions are designed to test your ability to apply the management concepts in this section.

You can download the questions and try them before viewing the video or you can keep pausing the video and answer before I do,

Preview 05:23
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Know how to Perform Cost Behaviour Analysis
9 Lectures 01:07:27

Business activity can be considered to be either sales or production. If sales (or production) increases then which costs in a business will increase and by how much?

Preview 12:57

Topic 1A - Another lecture on cost behaviour
10:29

We go over a number of multiple choice questions that I have chosen to highlight the major concepts.

Level A questions test your knowledge of the concepts in this section.

You can download the questions and try them before viewing the video or you can keep pausing the video and answer before I do,

Test Your Understanding - Level A ( Knowledge Questions)
04:17


Showme Problem Set #2 - Cost Behaviour
07:06

Showme Problem Set #3 - Cost Behaviour
08:38

Showme Problem #4 -High Low method
03:22

Showme Problem #5 -High Low problem
03:12

We go over a number of multiple choice questions that I have chosen to highlight the major concepts.

 and test your understanding.

Level B questions are designed to test your ability to apply the management concepts in this section.

You can download the questions and try them before viewing the video or you can keep pausing the video and answer before I do,

Test Your Understanding- Level B - (Application Problems)
05:23
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Know how to perform Cost Volume Profit analysis
11 Lectures 01:23:24
CVP analysis is one of the most useful management accounting tool.
Topic #1 - Cost Volume Profit Analysis
14:47

Once we have the costs of a company broken into fixed and variable costs - we can then re-format the income statement into a contribution margin and present a cost-volume-profit income statement - a very useful management forecasting tool.

Topic #1A -Understanding Cost Behavior and the contribution margin
10:29

We go over a number of multiple choice questions that I have chosen to highlight the major concepts.

Level A questions test your knowledge of the concepts in this section.

You can download the questions and try them before viewing the video or you can keep pausing the video and answer before I do,

Preview 06:31

Showme - CVP Problem Set #1
07:30

Showme CVP Problems Set #2
00:27

Pause the video and try this problem.

Showme Problem#1 on Break even Analysis
02:09

Pause this video and try the problem on your own.

Showme Problem # 2 -Cost Volume Profit - Ripple co.
04:16

Pause this video and try the problem on your own.

Showme Problem #3 EZ Seats
03:31

Showme CVP Problem set #3
11:50

Showme #4 - CVP Comprehensive Problem
11:43

We go over a number of multiple choice questions that I have chosen to highlight the major concepts.

 and test your understanding.

Level B questions are designed to test your ability to apply the management concepts in this section.

You can download the questions and try them before viewing the video or you can keep pausing the video and answer before I do,

Test Your Understanding of Cost Volume profit - Level B
10:11
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Know how to perform Multi product Break even Analysis
3 Lectures 25:31

Most companies sell more than one product. They have a good idea of the sales mix of their products. Each product will have a different contribution margin so we must calculate the weighted average conribution margin.

Calculating Weighted Average Contribution Margin
16:27

With the weighted average contribution margin we can now calculate the breakeven for companies that sell more than one product.

Calculating Break even for a multi product company using sales mix
06:39

Four problems on calculating the weighted average contribution margin and using it to determine breakeven for a multi product company

Weighted Average Contribution Margin Problem set #1
02:25
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Know how to use Cost Structure to effect leverage
7 Lectures 37:27

Senior management consciously decide on the amount of fixed cost and variable costs used in operations ( their cost structure). The more fixed cost - the more leverage.

Cost Structure and its effect on levergae
07:29

Pause this video and attempt the problem

Capital structure - degree of leverage - Antique and Contemporary co's
04:36

Here is a small multiple choice quiz for you to practice. Download a copy, print off and try it. Then check the answers

Socrative - CVP and Leverage
2 pages

Current Designs CVP and Leverage problem
08:03

Try these problems.

Difficult Problems with solutions on CVP and Leverage
5 pages

These problems are on calculating break even for a multi product company as well as problems on leverage.
Test Your Understanding on Multi product and leverage
00:04

This is an hour exam on material taken so far in this course.

Midterm Practice Questions
17:15
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Understand Cost Accounting Systems - Job Costing and Activity Based Costing
10 Lectures 31:55

The manufacturing statement is a formal financial statement along with the Classified balance sheet and income statement for a manufacturer.

Understanding the Manufacturing Statement
05:23

This lecture covers the two main costing systems.

Job Costing and Process Costing
03:39

Here is a small multiple choice quiz for you to practice. Download a copy, print off and try it. Then check the answers

Socrative - Job Costing
2 pages

We look at the job cost system and how the costs are accumulated for each job.

Illustrating the Job Costing System
08:51

Pause this video and try the problem.

Triple Co Job Costing Problem
06:11

Ohhh the problem with overhead costs. The Brits use the term burden costs. Overhead can be a burden to management.

Overhead allocation problem
02:02

Follow the journal entries for a job costing system.

Illustrating The job Costing journal entries
05:43

Here is a small multiple choice quiz for you to practice. Download a copy, print off and try it. Then check the answers

Socrative - Job Costing Sysrtem
2 pages

Excel Job costing demonstration problem
1 page

Test Your Understanding on costing Systems
00:06
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Know Activity Based costing
4 Lectures 39:29

Now you are introduced to the more modern way to allocate overhead, The theory here is that activities consume resources and manufacturing consume activities. Hence Activity Based Costing.

Activity Based Costing
23:08

Activity Based Costing Presentation
11 pages

Activities consume resources. Products and services consume activities

Activity Based Problems
09:58

Two ABC Problems.mp4
06:23
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Know Activity Based Management
1 Lecture 00:00

Here is a small multiple choice quiz for you to practice. Download a copy, print off and try it. Then check the answers

Socrative -Activity Based Costing
2 pages
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Pricing
3 Lectures 13:23
Pricing lecture
04:36

Download this problem and giving it a try.

Dewitt Corp pricing problem
04:06

Download and give it a try

Lovell Computers Pricing Problem
04:41
5 More Sections
About the Instructor
4.2 Average rating
128 Reviews
4,895 Students
12 Courses
Accounting Professor

I am a Professor of Accounting with over thirty-five years experience teaching accounting to college students, undergraduate and MBA university students as well as CMA candidates seeking to earn their Professional Certified Management Accountant Designation.

I achieved my Certified Management Accountant Designation 40 years ago. With that I then earned my Masters of Business Administration degree and later a PHD in accounting.

I have developed and will continue to develop a number of courses in both Financial Accounting and Management Accounting for you - a college or university student (or even a secondary student) to help you to achieve the best result in your undergraduate accounting course. If you get an "A" from me I guarantee you will get an "A" from your accounting prof.

For Graduate students, I have a course to prepare those of you who do not have a business degree for the Masters of Business Administration. Also I have a course at the masters level called Managerial Accounting.

For CMA Candidates, I have courses to prepare you to successfully pass their Certified Management Accounting Exams offered by Institute of Management Accountants.


Dr. John

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