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
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.
- 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)