This free managerial accounting course covers cost concepts, cost volume profit analysis, capital budgeting, variance analysis, variable costing among others. Also, the course covers 20 to 30 % of the Business Environments Concepts (BEC) exam of the CPA exam as well as 30 to 40% of the CMA exam.
The following topics are covered in this section in this course:
Overview of Managerial Accounting (4 lessons).
Managerial Accounting Versus Managerial Accounting, Planning, Controlling and Decision Making, IMA statement of Ethical Professional, Corporate Governance.
Managerial Accounting and Cost Concepts (7 lessons).
Direct Cost Versus Indirect Cost, Product Cost, Period Cost, Variable Cost, Fixed Cost, Mixed Cost, High Low Method, Scatter-Graph, Traditional Versus Contribution Income Statement, Opportunity Cost, Sunk Cost, Regression Analysis.
Job-Order Costing (5 lessons).
Introduction to Job Order Costing, Predetermined Overhead Rate, POHR, Cost Flow in Job Order Costing with journal Entries, Schedule of Cost of Goods manufactured, Underapplied and Overapplied Overhad.
Process Costing (lessons).
Introduction to Process Costing, Example, FIFO Process Costing.
Cost Volume Profit Analysis (8 lessons).
Cost Volume Profit analysis, Cost Volume Profit analysis CVP Graph, Contribution Margin Ratio, Application of Cost Volume Profit Application, Break-Even Point, Target Profit, Margin of safety, Operating leverage, Break-Even for Multi-Product.
Variable Costing and Segment Reporting (3 lessons).
Absorption Costing and Variable Costing, Segmented Income Statement Traceable and Common Fixed Cost, Company-Wide and Segment Break-Even
Master Budgeting (2 lessons).
Master Budget, Master Budget Schedule.
Flexible Budget and Performance Analysis (1 lesson).
Flexible Budget and Performance Analysis
Standard Costs and Variances (2 lessons).
Variance analysis, Standard Costing.
Decentralization, Return on investment ROI, Residual Income.
Relevant and Irrelevant Cost, Add or Drop a Segment, Make or Buy Analysis, Special Order, Utilization of a Constrained Resource, Sell or process Further.
Capital Budgeting Decisions (6 lessons).
Time Value of Money, Net Present Value NPV Capital Budgeting, Internal Rate of Return IRR Capital Budgeting, Payback Period for Capital Budgeting, Simple Rate of Return for Capital Budgeting, Cash Flow Preference Decisions for Capital Budgeting.