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.
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  • Lectures 86
  • Length 9 hours
  • Skill Level Beginner Level
  • Languages English
  • Includes Lifetime access
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    Available on iOS and Android
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About This Course

Published 9/2015 English

Course 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.

What are the requirements?

  • Students need to know financial accounting and how to use basic Excel
  • Students should have a basic knowledge on introductory financial accounting.

What am I going to get from this course?

  • 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

What 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.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Know how to Distinguish between Management Accounting & Financial Accounting
04:46

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.

05:56

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

09:06

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.

04:02

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,

Showme Problem #1
04:42
02:42

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,



Section 2: Manufacturing Costs and a Manufacturer's Financial Statements
05:53

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

07:15

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

06:01

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

04:17

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,

08:03

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

15:00
Try these excel problems on manufacturing statements. Download from resources. After completing - check video.
5 pages

Test yourself on management accounting terms

05:23

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,

Section 3: Know how to Perform Cost Behaviour Analysis
12:57

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?

Topic 1A - Another lecture on cost behaviour
10:29
04:17

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,

Showme Problem set #1- Cost Behaviour
Preview
12:03
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
05:23

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,

Section 4: Know how to perform Cost Volume Profit analysis
14:47
CVP analysis is one of the most useful management accounting tool.
10:29

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.

06:31

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,

Showme - CVP Problem Set #1
07:30
Showme CVP Problems Set #2
00:27
02:09

Pause the video and try this problem.

04:16

Pause this video and try the problem on your own.

03:31

Pause this video and try the problem on your own.

Showme CVP Problem set #3
11:50
Showme #4 - CVP Comprehensive Problem
11:43
10:11

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,

Section 5: Know how to perform Multi product Break even Analysis
16:27

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.

06:39

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

02:25

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

Section 6: Know how to use Cost Structure to effect leverage
07:29

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.

04:36

Pause this video and attempt the problem

2 pages

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

Current Designs CVP and Leverage problem
08:03
5 pages

Try these problems.

Article
These problems are on calculating break even for a multi product company as well as problems on leverage.
17:15

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

Section 7: Understand Cost Accounting Systems - Job Costing and Activity Based Costing
05:23

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

03:39

This lecture covers the two main costing systems.

2 pages

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

08:51

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

06:11

Pause this video and try the problem.

02:02

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

05:43

Follow the journal entries for a job costing system.

2 pages

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

Excel Job costing demonstration problem
1 page
Test Your Understanding on costing Systems
Article
Section 8: Know Activity Based costing
23:08

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 Presentation
11 pages
09:58

Activities consume resources. Products and services consume activities

Two ABC Problems.mp4
06:23
Section 9: Know Activity Based Management
2 pages

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

Section 10: Pricing
Pricing lecture
04:36
04:06

Download this problem and giving it a try.

04:41

Download and give it a try

Section 11: Midterm Exam
12:40

Download the exam and give it a try.

4 pages

Download the exam questions and try on your own

Section 12: Incremental Analysis
14:31

incremental analysis is a technique managers use when making decisions. Also known as relevant cost analysis and diferential analysis,

Special Order - Incremental analysis problem
03:39
Special order and make or buy demo problem
05:30
1 page

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

02:06

Whether or not should be continue to make a component or should we purchase outside. This analysis is also the same as the questuion --should we outsourse either a manufacturered product or service?

Article
Problems on using incremental analysis in special order & make or buy decisions.
Incremental Analysis Lecture Notes and Demo Problemss
Article
Article
A Variety of problems that you can practice using incremental analysis in the decision making process
03:18

Know how to apply incremental analysis to the question as to whether or not we should eliminate a business unit.

02:21

Should we retain this euipment or replace it?

Article
A Variety of problems that you can practice using incremental analysis in the decision making process
Section 13: Budget Planning
04:13

Lecture on how to prepare a master budget for a corporation.

Production and Purchasing Budget
08:10
13:43

Learn how to prepare a master budget for a manufacturing Co.

07:39

How to prepare a cash budget.

10:57

Learn how to prepare a cash budget for a manufacturing co.

Section 14: Budget Control
05:55

Now we have used the budget to plan future activities, we now can use the budget to control operations.

Budget Control Problem
Article
Responsibility Accounting
04:16
Article
Problems on preparing operating budgets
Section 15: Standard Cost and Variance analysis
08:39

Standard costs; variance analysis and the balanced scorecard

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Instructor Biography

Dr. John Mclellan, 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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