Accounting  |  Format: Flash

Analyzing Cost Data for Management - Part 1

Course Overview
Analyzing Cost Data for Management - Part 1 is the first part of a four-part series. The series Analyzing Cost Data for Management covers the managerial use of accounting, financial, and operating data for planning, control, and decision making. The series is designed for managers and entrepreneurs who need hand-on knowledge and tools in processing, developing, and analyzing financial, cost, and business data for managerial use.

The course series uses the multidisciplinary approach to the subject, looking at the topic from many different angles such as finance, economics, marketing, information systems, quantitative methods, and the like. The incorporation of information technology into virtually every subject covered in this series is heavily emphasized. Furthermore, the course uses the solved problems approach, with emphasis on the practical application of managerial accounting concepts, tools, and methodology. The course participant is provided with definitions and explanations that are understandable, a variety of examples illustrating the concepts and techniques that are concise, ample problems and detailed suggested solutions, and computer software demonstration and printouts.

Analyzing Cost Data for Management - Part 1 begins with an introduction to management accounting, looking at its relationship to cost accounting and financial accounting, and continues by discussing cost classifications and profit concepts, job order costing, process costing, activity-based costing (ABC) and activity-based management.

Learning Objectives
Upon successful completion of this segment, you should be able to:

  • Recognize the concerns of management accounting.
  • Recognize the function of management in planning, controlling and decision making, and the role of the financial management.
  • Identify the some popular certificates that recognize the expertise in the fields of cost/managerial accounting and internal auditing.
  • Identify examples of each of the basic cost elements involved in the manufacture of the product.
  • Recognize various cost concepts, and differentiate between the traditional income statement and the contribution income statement.
  • Recognize different approaches to costing such as job order costing and the objectives of a cost accounting system.
  • Identify the benefits and disadvantages of different costing approaches.
  • Recognize cost components used for activity-based costing (ABC).
  • Recognize attributes tracked to in a value chain analysis.

    Catalog Number: 99DEL41
    CPE Credits: 3 Registry / 3 QAS
    Author: Steve Spafford, CPA
    Advanced Preparation:
    Basic Math and Accounting
    Course Level: Overview
    Field of Study: Accounting
    Content Partner: SmartPros Ltd.
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Windows or Mac OS
    Release/Expiration Dates: Nov 07, 2019 / Nov 07, 2021