Managerial and Cost Accounting: A Comprehensive Guide

Managerial and cost accounting comprehensive course taught bay a practicing Certified Public Accountant (CPA)

What you will 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

Description

Comprehensive managerial and cost accounting course. Topics include:

· Job order costing

· Process costing

· Cost volume profit analysis

· Master Budgets

· Flexible Budgets

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· 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.

English

language

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

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

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

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