Managerial Accounting / Cost Accounting
Managerial and cost accounting comprehensive course taught bay a practicing Certified Public Accountant (CPA)
Language: english
Note: 4.6/5 (1,199 notes) 102,258 students
Instructor(s): Robert (Bob) Steele
Last update: 2020-02-02
What you’ll learn
- How a job order costing system works and what type of business would use it
- How a process costing system works and what type of business would use it
- Cost volume profit analysis (CVP) and how CVP tools can be used to make business decisions rationally
- How to construct a master budget
- How to construct a flexible budget and use it to make rational decissions
- How to use responsibility accounting to hold different areas of a business accountable in a rational way
- Relevant cost analysis as a took to make rational business decissions
- Time value of money techniques to help make decision about long term projects
Requirements
- None
Description
Comprehensive managerial and cost accounting course. Topics include:
· Job order costing
· Process costing
· Cost volume profit analysis
· Master Budgets
· Flexible Budgets
· Responsibility accounting
· Relevant costs
· Time value of money
This course will go into detail about each topic. We will include”
· Practice Excel files with both an answer tab and a practice tab
· Lecture PDF files that can be downloaded and reviewed without internet access
Managerial accounting skills are critical skills necessary for successfully running a business because they provide tools to make rational business decisions.
Who this course is for
- Business students learning managerial accounting concepts
- Business owners who want to apply managerial accounting concepts to make better decisions
- Business professionals who want to use managerial accounting concepts to improve their career
Course content
- Part One – Managerial Accounting Core Concepts
- 10 Managerial Accounting Introduction
- Part 1 Cost Classifications
- Cost Classifications
- 20 Cost Classifications
- 30 Product Costs & Period Costs
- 40 Prime Costs & Conversion Costs
- Part 1 – Manufacturer’s Financial Statements
- Manufacturer’s Financial Statements
- 50 Manufacturer’s Balance Sheet
- 60 Manufacturer’s Income Statement
- Part 1 – Cost Flows for a Manufacturing Company
- Cost Flows For a Manufacturing Company
- 70 Manufacturing Activities Flow
- 80 Just In Time (JIT) Manufacturing
- Part 1 – Job Cost vs Process Cost System
- 5 Job Cost vs Process Cost System
- 90 Job Cost Vs Process Cost
- Part 1 – Cost Flows for a Job Cost System
- Cost Flows for a Job Cost System
- 100 Job Cost System Cost Flow
- Part 2 – Job Cost Documents and Forms
- Job Cost Documents and Forms
- 110 Job Cost Sheet
- 120 Materials Ledger Card & Materials Requisition
- Worksheet – 120 Materials Ledger Card Requisition
- 130 Time Ticket & Labor Journal Entry
- Worksheet – 130 Time Ticket and Labor Entry
- 10 Multiple Choice Questions – Job Cost System
- Part 2 – Overhead Costs & Allocation
- Overhead Costs & Allocation
- 140 Overhead Costs
- Worksheet – 140 Overhead Costs
- 150 Overhead Allocation Predetermined Overhead Rate
- Worksheet – 150 Overhead Allocation
- 160 Overhead Under Applied Over Applied
- Worksheet – 160 Under & Over applied Overhead
- 20 Multiple Choice Questions – Job Cost System
- Part 2 – Finished Jobs and Sales Journal Entries
- Finished Jobs and Sales Journal Entries
- 170 Finished Jobs Journal Entry
- Worksheet – 170 Finished Goods Journal Entry
- 180 Sale of Jobs
- Worksheet – 180 Sale of Jobs
- 30 Multiple Choice Questions – Job Cost System
- Short Calculation Questions
- Part 2 – Job Cost System Summary
- Job Cost System Summary
- 190 Cost Flow General Ledger
- 300 Job cost system Part 1
- 305 Job cost system Part 2
- Worksheet – 300 Accounting instructions-Job cost problem part 1
- Worksheet – 300 Accounting instructions-Job cost problem part 2
- 300 Accounting instructions-Job cost problem part 3
- 300.4 Accounting instructions-Job cost problem part 4
- 40 Multiple Choice Questions – Job Cost System
- Short Calculation Questions
- Part 2 Key Terms & Definitions
- Key Term & Definitions
- Conversion Costs Definition – What are Conversion Costs%3F
- Cost of Goods Manufactured Definition – What is Cost of Good
- Direct Costs Definition – What are Direct Costs%3F
- Direct Labor Costs Definition – What are Direct Labor Costs%3F
- Direct Materials Cost Definition – What are Direct Materials
- Factory Overhead Definition – What is factory overhead
- Finished Goods Inventory – What is Finished Goods Inventory%3F
- Job Definition – What is Job in A Job Cost System%3F
- Job Order Costing System Definition – What is Job Order Cost
- Jobs Cost Sheet definition – What are Job Cost Sheets
- Manufacturing Overhead Definition What is Manufacturing Ov
- Materials Ledger Card Definition – What is Materials Ledger
- Materials Requisition Definition – What is Materials Requisi
- Net Cost of Goods Manufactured definition – What is Cost of Goods Manuf
- Purchase Order Definition – What is Purchase Order%3F (1)
- Time Ticket Definition – What is Time Ticket%3F
- Work in Process Inventory Definition What is work if proce
- 50 Multiple Choice Questions – Job Cost System
- Part 3 Process Cost System Overview Using FIFO Method
- Process Cost System Overview Using FIFO Method
- Cost Flows for a Profit Cost System Part 1
- Cost Flows for a Process Cost System Part 2
- Process Cost System Equivalent Units FIFO Adj
- Multiple Choice Question 1
- Part 3 – Flow of Materials, Labor, & Overhead Cost Through Inventory Accounts
- Flow of Materials, Labor, & Overhead Cost Through Inventory Accounts
- 105 Flow of Materials, Labor & Overhead
- Multiple Choice Questions 2
- Part 3 – Cost Per Equivalent Units – and Assigning Costs Weighted Average Method
- Cost Per Equivalent Units – and Assigning Costs Weighted Average Method
- 110 Methods to Calculate Ending WIP and Units Completed
- 115 Equivalent Units of Production Weighted Average Method
- Worksheet – 115 Equivalent Units of Production Weighted Average Method
- 120 Cost Per Equivalent Unit Calculation Weighted Average Method
- Worksheet – 120 Cost Per Equivalent Unit Calculation Weighted Average Method
- 125 Assign Costs to Units Weighted Average Method
- Worksheet – 125 Assign Costs to Units Weighted Average Method
- Multiple Choice Questions 3
- Short Calculation Questions
- Part 3 – Overhead Costs & Allocation
- Overhead Costs & Allocation
- 140 Overhead Costs
- 150 Overhead Allocation Predetermined Overhead Rate
- 160 Overhead Under Applied Over Applied
- Multiple Choice Questions 4
- Short Calculation Questions
- Part 3 – Comprehensive Problem – Recording Process Cost Journal Entries
- Comprehensive Problem – Recording Process Cost Journal Entries
- Part 1
- Part 2
- Part 3
- Multiple Choice Questions 5
- Short Calculation Questions
- Part 3 – Comprehensive Problem – Cost Per Equivalent Units & Cost Allocation
- Comprehensive Problem – Cost Per Equivalent Units & Cost Allocation (FIFO)
- Comprehensive Problem – Cost Per Equivalent Units
- Multiple Choice Questions 6
- Part 3 – Key Term & Definitions
- Conversion Costs Definition – What are Conversion Costs_ (1)
- Cost of Goods Completed – What is Cost of Goods Completed_
- Direct Labor Costs Definition – What are Direct Labor Costs_
- Direct Materials Definition – What is Direct Material_
- Equivalent Units of Production (EPU) – What are Equivalent U
- Factory Overhead Definition – What is factory overhead (1)
- Finished Goods Inventory – What is Finished Goods Inventory_
- Indirect Costs Definition – What are Indirect Costs_
- Job Order Costing System Definition – What is Job Order Cost (1)
- Manufacturing Overhead Definition What is Manufacturing Ov (1)
- Materials Requisition Definition – What is Materials Requisi (1)
- Net Cost of Goods Manufactured definition – What is Cost of Goods Manuf (1)
- Overhead Definition – What is overhead_
- Period Costs Definition – What are Period Costs_
- Prime Costs Definition – What are prime costs
- Product Costs Definition – What are Product Costs_
- Part 4 – Cost Volume Profit Analysis (CVP)
- 105 Cost Volume Profit Analysis (CVP)
- 107 Cost Volume Profit Analysis (CVP) Overview Example
- 110 Cost Volume Profit Analysis Assumptions – Copy
- Part 4 – Contribution Margin Income Statement
- Contribution Margin Income Statement
- 150 Income Statement Manufacturing Company
- 154 Contribution Margin Income Statement
- Worksheet – 154 Contribution margin, contribution margin
- Part 4 – Mixed Costs
- Mixed Costs
- 400 Mixed Costs
- 415 Scatter Diagram
- Worksheet – 417 Graphs In Excel
- Worksheet – 418 Scatter Graph
- 420 High – Low Method
- Worksheet – 420 Worksheet High Low Method
- Multiple choice 2
- Part 4 – Contribution Margin, Unit Contribution Margin, & Contribution Margin Ra
- Contribution Margin, Unit Contribution Margin, & Contribution Margin Ratio
- 425 Contribution Margin & Contribution Margin Ratio
- 425 Worksheet Contribution Margin
- 427 Contribution Margin Income Statement & Contribution Margin Per t
- Multiple choice 3
- Part 4 – Break Even Point & Margin of Safety
- Break-Even Point & Margin of Safety
- 428 Break-Even Point
- 428 Worksheet Break Even Point
- 429 Worksheet Targeted Net Income
- 432 Margin of Safety
- Multiple choice 4
- Forecasting
- Forecasting
- 438 Forecasting
- 438 Worksheet Forecasting
- Multiple choice 5
- Part 4 – Multiple Inventory Items
- Multiple Inventory Items
- 444 Composite Unit Break Even
- 442 Composit Units
- Multiple choice 6
- Operating Leverage
- Operating Leverage
- 448 Operating Leverage
- Worksheet – 448 Operating Leverage
- Multiple choice 7
- Short Calculation Question
- Part 4 – Cost Volume Profit Analysis Assumptions
- Cost Volume Profit Analysis Assumptions
- 450 Cost Volume Profit Analysis Assumptions
- Multiple choice 8
- Short Calculation Questions
- Part 4 – Comprehensive Problem
- 11 Comprehensive Problem
- CVP Comp Problem 1
- CVP Comp Problem 2
- CVP Comp Problem 3
- CVP Comp Problem 4
- Part 5 – Master Budgets
- 105 Why Budget
- 110 Budget Problems
- Part 5 – Budget Timing and Budget Committee
- Budget Timing and Budget Committee
- 115 Budget Timing
- 120 Budget Committee
- Multiple choice 1
- Part 5 – Sales Budget, Production Budget, & Materials Budget
- Sales Budget, Production Budget, & Materials Budget
- 210 Master Budged Sales Budget, Production Budget, & Materials Budget
- Worksheet – 210 Accounting instructions-Master budget, sales budget, production
- Worksheet – 215 Accounting instructions-Master budget, raw materials budged part
- Multiple choice 2
- Part 5 – Direct Labor, Factory Overhead, Selling, & General and Administrative
- Direct Labor, Factory Overhead, Selling, & General and Administrative Budgets
- 220 Master Budged 2 Direct Labor, Factory Overhead, Selling, General and Adminis
- Worksheet – 220 Master budget, Direct labor budget, Factory overhead budget, how
- Worksheet – 225 Master budget, selling expense,
- Multiple choice 3
- Part 5 – Cash Budget
- Cash Budget
- 230 Master Budged 3 Cash Budget
- Worksheet – 230 Master budget, Cash Budget part 5
- Multiple choice 4
- Part 5 – Budgeted Cost of Goods Manufactured & Cost of Goods Sold
- Budgeted Cost of Goods Manufactured & Cost of Goods Sold
- 240 Master Budged 4 Budgeted Cost of Goods Manufactured & Cost of Goods Sold
- Worksheet – 240 Master budget, Cost of Goods Manufactured and Cost of Goods Sold
- Multiple choice 5
- Part 5 – Budgeted Income Statement
- Budgeted Income Statement
- 250 Master Budged 5 Budgeted Income Statement
- Worksheet – 250 Master budget, Income Statement
- Multiple choice 6
- Part 5 – Budgeted Balance Sheet
- Budgeted Balance Sheet
- 260 Master Budget 6 Budgeted Balance Sheet
- Worksheet – 260 Master budget, Balance Sheet
- Short Calculation Question
- Part 5 – Verify The Budget
- Verify The Budget
- 270 Master budget, Check Numbers With Journal Entries
- Multiple choice 7
- Part 5 – Comprehensive Problem
- Comprehensive Problem
- 2200.10 Accounting instructions-Master budget, sales budget, production budget,
- 2200.20 Accounting instructions-Master budget, raw materials budged part 2, how
- 2200.30 Accounting instructions-Master budget, raw materials budged part 3, how
- 2200.40 Master budget, Direct labor budget, Factory overhead budget, how to calc
- 2200.50 Master budget, selling expense,
- 2200.60 Master budget, Cash Budget part 5
- 2200.70 Master budget, Cost of Goods Manufactured and Cost of Goods Sold
- 2200.80 Master budget, Income Statement
- 2200.100 Master budget, Balance Sheet
- 2200.110 Master budget, Check Numbers With Journal Entries
- Part 6 – Flexible Budgets, Standard Costs, & Variance Analysis
- 150 Budgetary Controls and Reporting
- 160 Budget Options
- Part 6 – Flexible Budget
- Flexible Budget
- 170 Flexible Budget Benefits
- 175 Flexible Budget
- Worksheet – 175 Flexible Budget
- 177 Flexible Budget Compared To Actual
- Worksheet – 177 Flexible budget compared to actual part 1
- Worksheet – 178 Flexible budget compared to actual part 2
- Multiple Choice Questions 1
- Part 6 – Standard Costs & Cost Variance Analysis Overview
- Standard Costs & Cost Variance Analysis Overview
- 180 Standard Costs
- 190 Cost Variance Analysis
- Multiple Choice Questions 2
- Part 6 – Sales Variance Analysis
- Sales Variance Analysis
- 195 Sales Price & Volume Variance
- Worksheet – 195 Sales Price & Volume Variance
- Multiple Choice Questions 3
- Part 6 – Direct Materials Variance Analysis
- Direct Materials Variance Analysis
- 196 Variance Analysis Direct Material Price Variance & Quantity Variance
- Worksheet – 196 Variance analysis part 1 direct materials price and quantity var
- Multiple Choice Questions 4
- Part 6 – Direct Labor Variance Analysis
- Direct Labor Variance Analysis
- 200 Variance Analysis Direct Labor Rate Variance & Efficiency Variance 2300
- Worksheet – 200 Variance analysis Part 2 direct labor rate and efficiency varian
- Multiple Choice Questions 5
- Part 6 – Overhead Variance Analysis
- Overhead Variance Analysis
- 310 Overhead Cost Variances
- Worksheet – 310 Overhead Controllable Variance & Volume Variance
- Worksheet – 312 Overhead Spending & Efficiency Variance
- Multiple Choice Questions 6
- Part 6 – Overhead Variance Comprehensive Problem
- Overhead Variance Comprehensive Problem
- Worksheet – 400 overhead Variance Comp
- Multiple Choice Questions 7
- Short Calculation Problems
- Part 6 – Comprehensive Problem
- Comprehensive Problem
- Comp Prob 1 Data
- Comp Prob 2 Flexible Overhead Budgets
- Comp Prob 3 Direct materials cost variance
- Comp Prob 4 Direct labor cost variance
- Comp Prob 5 Overhead Variance Report
- Part 7 – Responsibility Accounting & Performance Measurement
- 150 Decentralization
- 155 Performance Evaluation & Department Classifications
- Part 7 – Responsibility Accounting System
- Responsibility Accounting System
- 160 Controllable vs. Uncontrollable Costs
- 170 Responsibility Accounting System
- 172 Responsibility Accounting Performance Reports
- Worksheet – 172 Performance Report
- Multiple Choice Question 1
- Part 7 – Direct and Indirect Expenses
- Direct and Indirect Expenses
- 180 Direct & Indirect Expenses
- Multiple Choice Question 2
- Part 7 – Indirect Expenses Allocation
- Indirect Expenses Allocation
- 190 Indirect Expenses Allocation
- 192 Indirect Expense Allocation
- Worksheet – 192 Departmental Contribution Statements
- 194 Allocation of Occupancy Costs
- Worksheet – 194 Allocation of costs
- Multiple Choice Question 3
- Part 7 – Departmental Income Statements
- Departmental Income Statements
- 200 Departmental Income Statement Steps
- 210 Example – Departmental Income Statement Steps
- Worksheet – 211 Cost Allocations on a Sales Value Basis
- Multiple Choice Question 4
- Part 7 – Forecasted Departmental Income Statement
- Forecasted Departmental Income Statement
- 212 Forecasted Departmental Income Statement
- Worksheet – 212 Forcasted Departmental Income Statement
- Multiple Choice Question 5
- Short Calculation Questions
- Part 7 – Return on Investment (ROI)
- Forecasted Departmental Income Statement
- 220 Investment Center Return On Investment (ROI)
- Worksheet – 220 Return on Investment (ROI)
- Multiple Choice Question 6
- Short Calculation Questions
- Part 7 – Balance Scorecard
- Return on Investment (ROI)
- 250 Balance Scorecard
- Multiple Choice Question 7
- Part 7 – Comprehensive Problem
- Comprehensive Problem
- Worksheet – 210 Comp Expense Allocation to Department
- Part 8 – Relevant Costs – Managerial Accounting Decisions & Scenarios
- 110 Decision Making Process
- Part 8 – Make or Buy Decision
- Make or Buy Decision
- 252 Make or Buy Decision
- Worksheet – 252 Make or Buy
- Multiple Choice Question 1
- Part 8 – Scrap or Rework & Sell or Process Further Decisions
- Scrap or Rework & Sell or Process Further Decisions
- 262 Scrap or Rework
- Worksheet – 262 Scrap or Rework
- Worksheet – 264 Scrap or Rework
- 272 Sell or Process Further
- Worksheet – 272 Sell or Process Further
- Multiple Choice Question 2
- Part 8 – Sales Mix Decision
- Sales Mix Decision
- 280 Product Mix Decision
- Worksheet – 282 Sales Mix
- Worksheet – 284 Sales Mix
- Multiple Choice Question 3
- Part 8 – Segment Elimination or Not Decision
- Segment Elimination or Not Decision
- 300 Department Operating at a loss Close or Not
- Worksheet – 302 Segment Elimination
- Multiple Choice Question 4
- Part 8 – Equipment – Keep Old or Buy New Decision
- Equipment Keep Old or Buy New Decision
- 410 Equipment Keep Old or Purchase New
- Worksheet – 410 Keep Old Equipment or Purchase New
- Multiple Choice Question 5
- Part 8 – Special Offer – Accept or Deny Decision
- Special Offer – Accept or Deny Decision
- 450 Special Project or Offer – Accept or Reject Decision
- Worksheet – 452 Special Offer
- Worksheet – 454 Special Offer
- Worksheet – 455 Special Offer
- Worksheet – 472 Service Selling Price
- Multiple Choice Question 6
- Part 8 – Set Sales Price Using Cost Data
- Set Sales Price Using Cost Data
- 432 Set Sales Price
- Worksheet – 432 Sales Price Total Cost Method
- Worksheet – 433 Sales Price Variable Cost Method
- Worksheet – 436 Target Costing Using Excel Feature Goal Seek
- Multiple Choice Question 7
- Part 9 – Time Value of Money & Capital Budgeting – Present Value
- 110 Capital Budgeting
- Multiple Choice Question 8
- Part 9 – Payback Period & Accounting Rate of Return
- Payback Period & Accounting Rate of Return
- 210 Payback Period, Accounting Rate of Return, & Net Present Value (1)
- Worksheet – 210 Payback period, accounting rate of return net present value of p
- Multiple choice questions 1
- Part 9 – Present Value of A Single Amount
- Present Value of A Single Amount
- 350 Present Value
- Worksheet – 350 Present Value
- 352 Present Value Months as Period
- Worksheet – 352 Present Value Months
- Multiple choice questions 2
- Part 9 – Future Value of A Single Amount
- Future Value of A Single Amount
- 360 Future Value
- Worksheet – 360 Future Value
- 362 Future Value Months As Period
- Worksheet – 362 Future Value Months
- 363 Future Value vs Present Value
- Worksheet – 363 Present Value vs Future Value
- Multiple choice questions 3
- Part 9 Present Value of An Annuity
- Present Value of An Annuity
- 365 Present Value Annuity
- Worksheet – 365 Present Value Annuity
- 366 Present Value Annuity Months as Period
- Worksheet – 366 Present Value Annuity Months
- Multiple choice questions 4
- Part 9 – Future Value of An Annuity
- Future Value of An Annuity
- 367 Future Value Annuity
- Worksheet – 367 Future Value Annuity
- 368 Future Value Annuity Months
- Worksheet – 368 Present Value Annuity Months
- Multiple choice questions 5
- Part 9 – Present & Future Value Cash Flow Examples
- Present & Future Value Cash Flow Examples
- 375 Present Value Cash Flow Examples
- Worksheet – 375 Present Value Practice Data
- 385 Future Value Cash Flow Examples
- Worksheet – 385 Future Value Data Sets
- Multiple choice questions 6
- Part 9 – Introduction to Present Value Terms Used In Capital Budgeting
- Introduction to Present Value Terms Used In Capital Budgeting
- 390 Present Value Terms Used In Capital Budgeting
- Worksheet – 390 Present Value Terms For Capital Budgeting
- Multiple choice questions 7
- Part 9 – Net Present Value (NPV)
- Net Present Value (NPV)
- 409 Net Present Value Assumptions
- 410 Net Present Value Calculation 2500 Part 1 (1)
- 411 Net Present Value Calculation 2500 Part 2 (1)
- Worksheet – 409 Net present value – Excel (1)
- Worksheet – 411 Pay Back Accounting RR NPV
- Worksheet – 412 Pay Back Accounting RR NPV 2
- Worksheet – 413 Required return on investment
- Multiple choice questions 8
- Part 9 – Internal Rate of Return (IRR)
- Internal Rate of Return (IRR)
- 510 Internal Rate of Return IRR
- Worksheet – 510 IRR Excel
- Worksheet – 511 IRR NPV
- Multiple choice questions 9
- Part 9 – Break Even Time
- Break Even Time (BET)
- 600 Break Even Time
- Worksheet – 600 Pay Back Period & Break Even Time
- Multiple choice questions 10
Time remaining or 995 enrolls left
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