Managerial accounting is concerned with providing information to managers- that is, to those who are inside an organization and who direct and control its operations. Managerial accounting can be contrasted with financial accounting, which is concerned with providing information to stockholders, creditors and others who are outside an organization. Managerial accounting information include information on the costs of an organization’s products and services, budgets, performance reports, and other information which assist managers in their planning and control activities.
This course emphasizes the use of accounting information for internal planning and control purposes, and is intended as an introduction for individuals who will make business decisions and evaluate the performance of managers and business units using data obtained from the accounting system. The course will also cover the vocabulary and mechanics of cost accounting, basic issues involved in the design of a managerial accounting system, and the role of management accounting in decisions concerning resource allocation and performance evaluation.
After completing Managerial Accounting students, will be equipped with a basic understanding of the following:
- Designing managerial information systems to support an organization’s strategy
- The limitations of traditional costing systems
- Budgeting and cash planning
- Activity-based costing and activity-based management
- Revenue-cost behavior and cost-volume-profit analysis
- Relevant costs and relevant revenues in business decisions
- Performance evaluation
- Management control and control systems.
This course is an intended for business, engineering, or IT professionals who seek a fundamental understanding of managerial accounting, and how to better make real-time business decisions. A general understanding of mathematics is required.
Students will be assigned 5 homework assignments, and a final project for each course.
- Managerial Accounting and the Business Environment
- Cost Terms, Concepts, and Classifications
- Job Order Costing
- Process Costing
- Activity Based Costing
- Cost-Volume-Profit Relationships
- Absorption & Variable Costing
- Profit Planning
- Flexible Budgets and Overhead Analysis
- Use of Managerial Accounting for Decision Making
This course is Instructor-led and delivered through our award-winning online Learning Management System