Managerial Accounting

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 take a look at how relevant traditional and leading-edge topics integrate together with an outcome of understanding basic cost analysis, decision definitions, relevant information formatting, and how to make the decision itself. 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.

Managerial Accounting Module 1
Managerial Accounting and Cost Concepts

• The Dual Roles of Accounting Information
• Financial Accounting
• Role of the Management Accountant
• Certified Management Accountant
• The Nature of Cost
• Comparing Service, Merchandising, and Manufacturing Organizations
• Cost Behavior
• Variable Costs
• Cost Concepts for Planning and Controlling
• Contribution Margin and its Many Versions

Managerial Accounting Module 2
Cost Estimation and Cost-Volume-Profit Relationships

• Significance of Cost Behavior to Decision Making and Control
• Cost “Volume-Profit (CVP) Analysis
• Graphical Analysis
• Analysis of Changes in CVP Variables
• Measures of Relationship Between Operating Levels and Break-Even Points
• The Sales Mix
• Cost Estimation
• Regression and Correlation Analyses
• Control Limits
• Multiple Regression

Managerial Accounting Module 3
Product Costing: Attaching Costs to Products and Services

• Costing of Products and Services
• Costing of Direct Costs
• Costing Factory Overhead
• Predetermined Overhead Rate
• Cost of Providing Services
• A Product Costing Illustration
• Service Center Costs
• Step Method
• Allocation of Costs by Behavior
• Ethical Issues for Cost Allocation

Managerial Accounting Module 4
Process Costing

• Overview of Job and Process Costing
• Modified and Hybrid Systems
• The Job Cost System
• The Cost Elements in a Process Cost System
• The Equivalent Unit Concept
• Management's Use of Cost Production Reports
• Simplifications of JIT and Automation
• Weighted Average Cost Method
• Weighted Average Computational Steps
• Manufacturing Cost Environment

Managerial Accounting Module 5
Activity-Based Costing and Just-In-Time Costing

• Global Competiveness
• Activity-Based Costing
• Issues Influencing Cost Management Systems Design
• A Comprehensive Activity-Based Costing Example
• Primary Stage Allocation
• Comparing ABC to Traditional Volume Based Costing
• ABC and Nonmanufacturing Activities
• Activity-Based Management
• Nonvalue-Added Costs
• JIT Costing

Managerial Accounting Module 6
Budgeting for Operations Management

• Budgeting: A Planning and Control System
• Responsibility Accounting
• Identifying Cost Centers
• Why Budget
• Behavioral Side of Budgeting
• Master-Budget-An Overview
• The Starting Point and Beyond
• Other Budgeting Techniques
• A Master Budget Example
• Impacts of Contemporary Manufacturing Approaches

Managerial Accounting Module 7
Cost Control through Standard Costs

• Profit Analysis
• The Use of Standards
• Standard Cost Sheet
• Standards for Materials
• Standards for Labor
• Standards for Overhead
• Capacity and Control
• Variances
• Standard Costs in Different Settings
• Ethical Considerations

Managerial Accounting Module 8
Joint Cost Allocation and Variable Costing

• Joint Products
• Physical Measures of Output
• Relative Sales Value
• Net Realizable Value
• Byproducts and Scrap
• Variable Costing
• Characteristics of Variable Costing
• Comparing Variable Costing and Absorption Costing
• Reconciliation of Variable and Absorption Costing
• Arguments for Either Costing Method

Managerial Accounting Module 9
Managerial Decisions: Analysis of Relevant Information

• The Decision-Making Process
• Differential Analysis
• Make or Buy Decisions
• Special Sales Pricing Decisions
• Use of Scarce Resources Decisions
• Sell or Process Further Decisions
• Add or Delete a Segment Decisions
• Equipment Replacement Decisions
• Ethical Considerations
• Costs and Pricing Decisions

Managerial Accounting Module 10
Capital Investment Decisions

• The Importance of Capital Investment Decisions
• The Capital Investment Decision
• Decision Criteria
• The Evaluation Methods
• Ethical Issues and Pressures on Management
• Taxes and Depreciation
• Cost of Capital
• Calculation Issues
• The Time Value of Money
• The Present Value of a Series of Future Cash Flows

Managerial Accounting Module 11
Analysis of Decentralized Operations

• Review of Responsibility Centers
• Advantages of Decentralization
• Measurement of Financial Performance
• Return on Investment
• Residual Income
• Economic Value Added
• Ethical Concerns Relating to Performance Measures
• Performance Evaluation Systems in Service Organizations
• Intracompany Transactions and Transfer Pricing Problems
• Maximizing International Profits: The Role of Transfer Prices

Managerial Accounting Module 12
Costs of Quality and Other Cost Management Issues

• Costs of Quality
• Cost Categories
• Cost Management in Design and Production Stages
• Activity Analysis
• Nonfinancial Performance Measures
• Measures of Manufacturing Productivity
• Nonfinancial Measures for the Multinational Company
• Balanced Scorecard
• Benchmarking
• Strategies to Enhance Productivity