Acca Management Accounting: An Easy And Practical Course

ACCA APPLIED KNOWLEDGE STAGE

What you'll learn

The purpose of Management Accounting

Data Analysis and Statistical Techniques

Cost Accounting

Budgeting

Standard Costing

Performance Measurement

Requirements

There are no prior requirements. We start at the basics and build from there. A calculator is needed to do some of the examples.

It would be a good idea to try the quiz at the end of each section to ensure you understand those topics..

Description

What is Management Accounting?It essentially involves using information and data to make an organization more efficient and successful. Consequently, management accountants are very important members of staff.Why you should study Management Accounting?Management accounting jobs are interesting and well paid. Generally, they are part of the executive and senior management team. In addition, other managers also need to understand the ideas and methods involved in this area in order to do their jobs well.Will this course help me in Professional Examinations?Yes, the course covers all the main concepts and techniques that you need to know. It follows the syllabus of the ACCA, Management Accounting MA Applied Knowledge course. It can also be use for other accounting qualifications, including Certified Public Accountants CPA, Chartered Accountant CA and Association of Accounting Technicians AAT.What is the style of teaching?The course is split into fourteen sections and then within each section there are a number of short lessons. Each new topic is introduced and then it is explained using a mixture of videos of myself teaching in a classroom, cartoons explaining the important concepts and then detailed teaching of each topic. At the end of each section there is a short quiz to ensure you understood that section. Answers and explanations are given.The course is designed to be as practical as possible. It is aimed at a person who is currently working as an accountant, studying accounting and finance at university or college or who needs to understand these topics as part of their job.Why should I take this course?I qualified as a Chartered Accountant with PwC in London and then worked for twenty years as an accountant. Over the last ten years I have taught accounting in a university. I understand the practical day to day work of an accountant but also have a lot of experience of helping students to do well and pass their accounting exams. At the end of term students have rated my teaching very highly.Are there any requirements?You do not need at previous knowledge. I designed the course to start at the basics and then move slowly so that students can easily understand this course.

Overview

Section 1: The Nature and Purpose of Management Accounting

Lecture 1 Introduction

Lecture 2 Three main management activities

Lecture 3 What is Management Accounting

Lecture 4 Planning and decision making

Lecture 5 What is strategy?

Lecture 6 What is good information?

Lecture 7 The economic environment

Lecture 8 Quiz

Section 2: Cost classification

Lecture 9 Introduction

Lecture 10 Control systems

Lecture 11 Direct and indirect costs

Lecture 12 Variable and fixed costs

Lecture 13 Semi variable costs

Lecture 14 Example of semi variable costs

Lecture 15 Hi Low method of calculating variable cost

Lecture 16 Cost classification

Lecture 17 Collecting costs

Lecture 18 Revenue, cost and profit centers

Lecture 19 Cost codes

Lecture 20 Presenting information

Lecture 21 Best way to present numbers

Lecture 22 Quiz

Section 3: Sampling and analytical techniques

Lecture 23 Introduction

Lecture 24 Understanding a sample

Lecture 25 Correlation

Lecture 26 Regression

Lecture 27 Regression scatter chart

Lecture 28 Regression equation

Lecture 29 Warning! Difficult example

Lecture 30 Regression equation

Lecture 31 Time series regression

Lecture 32 Moving averages

Lecture 33 Moving average example

Lecture 34 Moving average question

Lecture 35 Seasonal cycles

Lecture 36 Forecasting the future

Lecture 37 Using models to forecast

Lecture 38 Multiplicative models

Lecture 39 Worked example of models

Lecture 40 Time series forecasts

Lecture 41 Index numbers

Lecture 42 Quiz

Section 4: Summarizing and analyzing data

Lecture 43 Introduction

Lecture 44 Big data

Lecture 45 Using big data

Lecture 46 Types of data

Lecture 47 Statistics

Lecture 48 Distributions

Lecture 49 Variance and spread of data

Lecture 50 Normal distribution

Lecture 51 Probability

Lecture 52 Spreadsheets

Lecture 53 Using excel

Lecture 54 Quiz

Section 5: Accounting for Materials and Labour

Lecture 55 Introduction

Lecture 56 Raw material cycle

Lecture 57 Inventory

Lecture 58 Optimal order size

Lecture 59 Buffer inventory

Lecture 60 Economic batch quantity

Lecture 61 EBQ question

Lecture 62 How to value inventory

Lecture 63 Example of inventory valuation

Lecture 64 Inventory accounting

Lecture 65 Labour costing

Lecture 66 Labour turnover

Lecture 67 Labour performance

Lecture 68 Labour performance example

Lecture 69 Quiz

Section 6: Absorption and Marginal Costing

Lecture 70 Introduction

Lecture 71 Costing a product

Lecture 72 Absorption costing

Lecture 73 Allocation of indirect costs

Lecture 74 Apportionment of indirect costs

Lecture 75 Example of apportionment

Lecture 76 Revision on indirect costs

Lecture 77 Absorption example

Lecture 78 Complicated apportionment

Lecture 79 Dealing with over and under absorption

Lecture 80 Accounting for indirect costs

Lecture 81 Cartoon on marginal costing

Lecture 82 Discussion of marginal costing

Lecture 83 Absorption compared to marginal costing

Lecture 84 Quiz

Section 7: Cost Accounting Methods

Lecture 85 Introduction

Lecture 86 Production costing

Lecture 87 Process costing

Lecture 88 Example of process costing

Lecture 89 Normal and abnormal costs

Lecture 90 Work in Progress

Lecture 91 Joint products

Lecture 92 Costing a service

Lecture 93 Different costing methods

Lecture 94 Product life cycle

Lecture 95 Total quality management

Lecture 96 Quiz

Section 8: Nature and Purpose of Budgeting

Lecture 97 Introduction

Lecture 98 Why prepare a budget?

Lecture 99 Classroom teaching on preparing a budget

Lecture 100 Five stages of budgeting

Lecture 101 Raw material budget

Lecture 102 Labour budget

Lecture 103 Cash budget

Lecture 104 Receipts budget

Lecture 105 Payments budget

Lecture 106 What if scenario analysis

Lecture 107 Quiz

Section 9: Asset Budgeting

Lecture 108 Introduction

Lecture 109 Capital expenditure

Lecture 110 Relevant costs

Lecture 111 Cost of investment

Lecture 112 Interest rates

Lecture 113 Classroom teaching on investing money

Lecture 114 Investment appraisal

Lecture 115 Time value of money

Lecture 116 Cash flows used to assess investments

Lecture 117 Net present value

Lecture 118 Internal rate of return

Lecture 119 Cost of capital

Lecture 120 Example of internal rate of return

Lecture 121 Annuity

Lecture 122 Quiz

Section 10: Budgetary Control and Reporting

Lecture 123 Introduction

Lecture 124 Planning and control

Lecture 125 Responsibility accounting

Lecture 126 Cartoon on budgets and motivation

Lecture 127 Styles of budgeting

Lecture 128 Understanding variances

Lecture 129 Quiz

Section 11: Standard Costing

Lecture 130 Introduction

Lecture 131 Cartoon what is a standard cost?

Lecture 132 Standard cost card

Lecture 133 Flexed budgets

Lecture 134 Variance analysis

Lecture 135 Reconcile budget to actual

Lecture 136 Absorption of standard costs

Lecture 137 Quiz

Section 12: Variance Calculations and Analysis

Lecture 138 Introduction

Lecture 139 Assessing performance

Lecture 140 How many variances are there?

Lecture 141 Variance example 1

Lecture 142 Variance example 2

Lecture 143 Variance example 3

Lecture 144 Variance example 4

Lecture 145 Variance example 5

Lecture 146 Variance example 6

Lecture 147 Summary of comprehensive example

Lecture 148 Discussion of variances

Lecture 149 Marginal costing variances

Lecture 150 Marginal costing variances 2

Lecture 151 Reasons for variances

Lecture 152 Question 1 explained

Lecture 153 Question 2 explained

Lecture 154 Question 3 materials explained

Lecture 155 Question 3 labour explained

Lecture 156 Question 4 explained

Lecture 157 Question 5 explained

Lecture 158 Question 6

Lecture 159 Quiz

Section 13: Performance Measurement

Lecture 160 Introduction

Lecture 161 Mission statements

Lecture 162 Strategy

Lecture 163 What is performance?

Lecture 164 Value analysis

Lecture 165 Manager performance

Lecture 166 Cost control compared to cost reduction

Lecture 167 Service performance

Lecture 168 Non financial performance

Lecture 169 Quiz

Section 14: Monitoring Performance and Reporting

Lecture 170 Introduction

Lecture 171 Measurement of performance

Lecture 172 Five ways to measure performance

Lecture 173 Measuring activity

Lecture 174 Measuring liquidity

Lecture 175 Measuring investments

Lecture 176 Interpretation of performance

Lecture 177 Question of measuring performance

Lecture 178 Answer to question

Lecture 179 Quiz

Accountants and bookkeepers who are studying for a professional qualification. This includes ACCA, CPA, ACA, AAT and CFA.,Students at university and college who are studying accounting and finance.,Managers who need to understand the main concepts in management accounting.