Managerial Accounting: Performance Planning & Management

Course Description:

The Managerial Accounting course online applies prior knowledge of costing systems to the areas of decision making, budgeting, performance evaluation, and capital budgeting.

Students will Learn:

  • Apply basic costing concepts to predict results from different levels of activity or production
  • Differentiate between variable and absorption costing systems
  • Develop various types of budgets, and compare performance to those budgets
  • Understand the basics of capital budgeting and the time value of money

Course Modules:

Module 1 – Using Cost-Volume Profit Analysis

  • Learning Objective: Combine cost classifications and the profit function from economics to forecast profitability of various levels of activity or production.

Module 2 – Variable and Absorption Costing

  • Learning Objective: Evaluate the strengths and weaknesses of variable and absorption costing.

Module 3 – Short-Run Decision Making

  • Learning Objective: Apply CVP analysis and economic intuition to make financially optimal decisions.

Module 4 – Budgeting for the present and future

  • Learning Objective: Differentiate between types of budgets, and identify the limitations and challenges of traditional budgeting processes.

Module 5 – Measuring performance against budgets

  • Learning Objective: Apply variance analysis techniques to explain when budget targets are not achieved, and consider possible remedies to both budgets and processes to avoid future variances.

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: Costing Systems & Fundamentals (fin.cost.i1)
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