Accounting  |  Format: Flash

Cost Accounting, Cost Analysis and Decision Making for Managers

Course Overview:
This course begins by defining management accounting, and describes the purposes for which the manager needs cost information. Next, the course examines the essentials of the product costing methods - job order costing, process costing, and also activity-based costing (ABC). The course continues by exploring cost behavior and cost-volume-profit analysis, including break-even analysis, and then focuses on budgeting and standard cost systems, responsibility accounting, and short-term and long-term investment decision making. Numerous graphics and examples are presented, as well as lists of computer software for ABC and budgeting.

Learning Objectives:
After completing this course, the course participant should be able to:

  • Explain the difference between management accounting and its related fields such as cost accounting and financial accounting.
  • Distinguish between variable costs and fixed costs and explain the difference in their behavior.
  • Explain job order costing.
  • Describe how activity-based costing (ABC) would enhance product costing accuracy.
  • Explain three methods of estimating cost functions: engineering analysis, account analysis, and high-low method.
  • Prepare break-even and profit-volume charts.
  • Diagram and explain the master budget interrelationships.
  • Prepare sales, production, cost, and cash budgets.
  • Define responsibility accounting and state how important it is for managerial control.
  • Explain how return on investment (ROI) and residual income (RI) measures affect the division's investment decision.
  • Identify the costs that are relevant for a particular decision.
  • Decide whether further processing of a product is justified.
  • State the special features of capital budgeting decisions.
  • Calculate, interpret, and evaluate four capital budgeting techniques.

    Catalog Number: 991401
    CPE Credits: 5 Registry / 5 QAS
    Author: Steve Spafford, CPA
    Advanced Preparation:
    Course Level: Basic
    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
     Adobe® Flash® Player 8 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Windows or Mac OS
    Release/Expiration Dates: Jun 15, 2011 / Dec 31, 2019