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Managerial Accounting for Non-Accountants: Concepts, Tools and Techniques

Author/Moderator: Neil Wilner, PhD, CPA and James McDonald, PhD
Publisher: AICPA
Availability: In Stock
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Description

(Formerly Accounting and Finance for Non-Accountants — Level II)

Expand your understanding of the “business side” of things! This course introduces non-accountants (and accountants who want a basic managerial accounting refresher) to the managerial accounting concepts, tools and techniques needed to perform basic functions critical to effective decision making and control within the organization. Topics include the value chain, cost terminology and classifications, cost accumulation systems, cost-volume-profit analysis, relevant or differential cost analysis, preparation of static master budgets and flexible operating budgets, segment reporting and profitability analysis and standard costing and variance analysis. This course is the second in a three-part series.

Objectives:
  • Understand basic managerial accounting terminology
  • Apply basic managerial accounting concepts, tools and techniques
  • Perform key types of managerial accounting analyses
  • Prepare budgets, evaluate performance and analyze variances
Prerequisite: Understanding Financial Statements for Non-Accountants (or equivalent basic financial accounting knowledge).

Table of Contents

  • Chapter 1 - The Value Chain
    • Learning Objectives
    • Introduction
    • Exercises
  • Chapter 2 - Understanding Cost Structure for Planning, Control, and Decision Making
    • Learning Objectives
    • Introduction
    • Costs Related to Volume
      • Variable Costs
      • Fixed Costs
      • Step Variable Costs
      • The Fallacy of Fixed Costs
      • Mixed Costs
    • It Is Critical to Understand How Costs Relate to Volume
    • Costs That Are Related to Variety or Diversity
    • Exercises
  • Chapter 3 - Managerial Accounting Terminology
    • Learning Objectives
    • Introduction
    • The Three Product Costs
      • Direct Materials
      • Direct Labor
      • Overhead
    • Exercises
  • Chapter 4 - Understanding Cost Accumulation Systems
    • Learning Objectives
    • Introduction
    • Exercise
      • Additional Information
  • Chapter 5 - Cost-Volume-Profit Analysis
    • Learning Objectives
    • Introduction
    • Multiproduct CVP Analysis
      • Explanations
    • Exercises
  • Chapter 6 - Decision Making
    • Learning Objectives
    • Introduction
    • Principle Number 1
    • Principle Number 2
    • Principle Number 3
    • Interest Costs
    • Fixed Costs
    • Exercises
  • Chapter 7 - Cost-Volume-Profit Analysis
    • Learning Objectives
    • Introduction
    • Organization-Wide View vs. Subunit View
    • Standards
      • Budgeted Processing Cost for 100 Orders
    • Data Collection and Uncertainty
      • Data Collection
      • Uncertainty
    • Common Sense Approach
    • Sensitivity Analysis
  • Chapter 8 - Decision Making
    • Learning Objectives
    • Introduction
    • Return on Investment (ROI)
    • Exercises
  • Chapter 9 - Variances
    • Learning Objectives
    • Introduction
    • Scenario
      • Questions
    • Basic Concepts
      • Variance
      • Planning Variances
      • Performance Variance
      • Corrective Action
      • Root Causes
      • Root Cause Analysis
      • Benchmarkers
    • Exercises
  • Chapter 10 - Ethics Focus: Business and Industry
    • Ethics Overview
    • Interpretation 101-3
    • Key Ethical Dilemmas
    • Addressing Ethical Dilemmas
    • Available Resources
  • Chapter 11 - Latest Developments

Excerpts

Videocourse Details

NASBA Field of Study: Accounting
Level: Basic
Recommended CPE Credit: 8
Important Information on Your CPE Credit
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