Managerial Accounting: Costing Systems & Fundamentals

Course Description:

The Managerial Accounting course online provides a detailed overview of costing basics, including measurement, application, and prediction of costs in an accounting setting.

Students will Learn:

  • Identify the basic classifications of costs
  • Differentiate between various costing systems
  • Calculate the total and incremental cost of products and services under different costing systems
  • Estimate future costs by understanding how various costs change

Course Modules:

Module 1 – Overview Of Managerial Accounting

  • Learning Objective: Identify the key features of managerial accounting and discern its differences both in form and function from financial accounting.

Module 2 – Basic Cost Management Concepts & The Balanced Scorecard

  • Learning Objective: Discover the different classification schemes for costs and recognize the flow of costs through the financial statements.

Module 3 – Calculating Manufacturing Costs And Traditional Product Costing

  • Learning Objective: Identify how costs are applied to products in a normal costing system.

Module 4 – Process Costing And Activity Based Costing

  • Learning Objective: Compare alternative costing systems to the normal costing system and identify the strengths and weakness of each system.

Module 5 – Cost Behavior And Estimation

  • Learning Objective: Predict future costs by understanding the behavior of current and historical costs.

Recommended Background:

  • Students with a background in accounting, finance, management, or bookkeeping desiring to develop an understanding of costs and their relevance to profitability.
  • Students with practical experience with basic product costing who wish to expand their knowledge to include the “why,” or theory, behind costing systems.
  • Employees newly entering the finance, accounting, or management areas.
  • Those preparing for and/or needing Continued Education Units for their certifications.

Other Courses in the Series

  • Managerial Accounting: Performance Planning & Management (fin.cost.i2)
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