Cost And Managerial Accounting - Part 1

Understanding Costs for Successful Management of a Company

What you'll learn

The difference between financial and managerial accounting

The difference between costs and expenses

The various classifications of costs

Cost behavior and the determination of variable versus fixed costs

How to estimate costs at expected future levels

How to decide between making or buying parts (outsourcing)

Cost-Volume-Profit Analysis

Porter's Five Forces

The difference between Marginal and Average Costs

Activity Based Costing

How to determine the break even point

How to perform differential cost analysis

The difference between Absorption vs Variable Costing

The difference between Job Order and Process Costing

The Difference Between Product and Period Costs

How to Decide Between Selling or Processing Further

How to Decide Whether To Accept a Special Order

Requirements

The only requirement for this course is a desire to learn more about accounting. No specific software or textbooks are required.

Description


Accounting often referred to as the “language of business.” Whether you are going into management or actually going to be an accountant, you need to be familiar with the basics of accounting. This includes understanding the concepts of debits and credits, assets and liabilities, revenues and expenses, dividends and equity. From an investor’s perspective, the business results are communicated through the financial statements, including the income statement, statement of owner’s equity, balance sheet and statement of cash flow. These are all discussed in this course!
This course is for those students who have not had much (or any) experience in accounting and are looking to enhance their understanding of it, to either help pass a course or to enhance your business career. It is for anyone who may have felt lost in prior accounting courses and wants real life examples and a down to earth explanation, rather than something read word for word out of a textbook. Is this you? Then you are in the right place!
This course is taught by an instructor with over eleven years of training experience, including corporate training, face to face instruction, and online course development. In addition to the lectures and study material common to many other courses, this course also has a downloadable textbook/study note file, along with downloadable Excel templates paired with a lecture walking through the solution once you are done. To test your knowledge of the basic concepts we also have quizzes after each section to make sure you feel comfortable with the topic before moving on to the next one.
At the end of this course, you will have a better understanding of the mechanics of accounting, the concepts, and the goals of accounting in general. You will be able to pass that class!! Let’s get started!

Overview

Section 1: Introduction

Lecture 1 Video - Introduction

Section 2: Managerial Accounting Concepts

Lecture 2 Study Notes - Comparison of Managerial and Financial

Lecture 3 Video - Managerial vs Financial

Lecture 4 Study Notes - Understanding Missions, Goals, and Strategic Analysis

Lecture 5 Video - Missions, Goals, and Strategies

Lecture 6 Study Notes - Porter's Five Forces, Competition and Quality

Lecture 7 Video - Porter's Five Forces

Lecture 8 Study Notes - Ethics

Lecture 9 Video - Ethics

Section 3: Understanding Cost

Lecture 10 Study Notes - Cost Terms and Classifications

Lecture 11 Video - Cost Terms and Classification

Lecture 12 Study Notes - Cost Estimation-High Low Method, Scattergraph, Regression Analysis

Lecture 13 Video - High Low Method

Lecture 14 Downloadable Exercise Template - High Low Method

Lecture 15 Practice Exercise - Activity Based Costing

Section 4: Cost-Volume-Profit Analysis

Lecture 16 Study Notes - Cost Volume Profit (CVP) Analysis

Lecture 17 Video - Cost-Volume-Profit Analysis

Lecture 18 Video - CVP - Traditional vs. Variable Income Statement

Lecture 19 Study Notes - Relevant Costs

Lecture 20 Solution Review Video - CVP Exercises

Section 5: Managerial Decision Making

Lecture 21 Study Notes - Special Orders

Lecture 22 Video - Special Orders

Lecture 23 Study Notes - Make or Buy (Outsourcing)

Lecture 24 Video - Outsourcing or Make or Buy

Lecture 25 Solution Review Video - Make or Buy Exercise

Lecture 26 Study Notes - Sell or Process Further

Lecture 27 Video - Sell or Process Further

Lecture 28 Solution Review Video - Sell or Process Further Exercise

Lecture 29 Study Notes - Scarce or Limited Resources Special Decisions

Lecture 30 Video - Scarce Resources

Lecture 31 Solution Review Video - Scarce or Limited Resources Exercise

Section 6: Job Order vs. Process Costing

Lecture 32 Study Notes - Product vs. Period Costs

Lecture 33 Video - Product vs. Period Costs

Lecture 34 Study Notes - Absorption vs. Variables Costing

Lecture 35 Video - Absorption vs. Variable Costing

Lecture 36 Study Notes - Cost of Goods Manufactured and Cost of Goods Sold

Lecture 37 Solution Review Video - Cost of Goods Manufactured Schedule

Section 7: Downloadable Textbook/Study Notes for the Entire Course

Lecture 38 Downloadable Textbook/Study Notes for the Entire Course

This accounting course is for anyone who wants to learn more about accounting. This course starts at the ground level, with no assumption that you have any prior experience. If you are taking an accounting course and are having trouble understanding the topics this course is for you. If you are looking to enhance your career by understanding more about accounting, this course is for you. This course does not get into the more advanced accounting topics, though I do have other courses for this.