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Managerial Accounting

Lesson 1: Introduction to Managerial Accounting

  • PowerPoint – Lesson 1

  • Exercises – Lesson 1

  • Origin of Managerial Accounting

  • Introduction to Managerial Accounting

  • Financial vs. Managerial Accounting

Lesson 2: Basic Cost Concepts

  • PowerPoint – Lesson 2

  • Exercises – Lesson 2

  • Cost Objects

  • Direct vs. Indirect Costs

  • Product Costs

  • Period Costs

  • Product vs. Period Cost

  • 3 Types of Manufacturing Costs

  • Direct Materials

  • Direct Labor

  • Manufacturing Overhead

  • Prime & Conversion Costs

  • 3 Types of Inventory

  • Raw Materials Inventory

  • Work-in-Process Inventory

  • Finished Goods Inventory

  • Flow of Costs for a Manufacturer

  • Nonmanufacturing Costs (SG&A)

  • Cost of Goods Manufactured

  • Opportunity Cost

  • Cost of Goods Sold

  • Journal Entry for Cost of Goods Sold

  • Cost of Revenue

  • Sunk Costs

  • Variable Costs

  • Fixed Costs

  • Relevant Range

  • Cost Drivers

Lesson 3: Job-order Costing

  • PowerPoint – Lesson 3

  • Exercises – Lesson 3

  • Job-Order Costing Overview

  • Job-Order Costing

  • Job-Order Costing Example

  • Predetermined Overhead Rate

  • Applying Manufacturing Overhead

  • Actual vs. Applied Overhead

  • Underapplied or Overapplied MOH

  • Fixed vs Variable Overhead Costs

  • Prorate Over/Underapplied Overhead

  • Closing Over/Underapplied Overhead

  • Effects of Over/Underapplied Overhead

  • Adjusted Allocation-Rate Approach

  • Job-Order Costing Journal Entries

  • Underapplied MOH Journal Entries

  • Job-Order Costing for Services

  • Departmental Overhead Rates

Lesson 4: Support Department Costs

  • PowerPoint – Lesson 4

  • Exercises – Lesson 4

  • 3 Ways to Allocate Support Costs

  • Direct Method

  • Step-down Method

  • Reciprocal Method

  • Reciprocal Method, using Linear Equations

  • Single-rate Method

  • Dual-rate Method

  • Allocating Support Costs using Practical Capacity

Lesson 5: Joint Costs and Byproducts

  • PowerPoint – Lesson 5

  • Exercises – Lesson 5

  • Joint Product Costs & Splitoff Point

  • Relative Sales Value Method

  • Physical Measure Method

  • NRV Method

  • Constant Gross Margin NRV Method

  • Accounting for Byproducts

  • Byproduct JE’s: Production Method

  • Byproduct JE’s: Sales Method

  • Sales Method vs. Production Method

Lesson 6: Process Costing

  • PowerPoint – Lesson 6

  • Exercises – Lesson 6

  • Process Costing

  • Job-Order vs Process Costing

  • Cost Per Equivalent Unit (Weighted Average Method)

  • Cost Per Equivalent Unit Example (Weighted Average Method)

  • Process Costing Example (Weighted Average Method)

  • Cost Per Equivalent Unit (FIFO Method, Part 1)

  • Cost Per Equivalent Unit (FIFO Method, Part 2)

  • Weighted Average vs. FIFO Method

  • Process Costing with Sequential Production

  • Process Costing Journal Entries

Lesson 7: Operation Costing

  • PowerPoint – Lesson 7

  • Exercises – Lesson 7

  • Basics of Operation Costing

Lesson 8: Activity-based Costing

  • PowerPoint – Lesson 8

  • Exercises – Lesson 8

  • ABC vs. Traditional Costing

  • Activity Measures for ABC

  • ABC Part 1: Cost Pools and 1st Stage Allocation

  • ABC Part 2: 2nd Stage Allocation

  • ABC Full Length Example

  • Customer Profitability Analysis using ABC

  • Disadvantages of ABC

Lesson 9: Cost Behavior

  • PowerPoint – Lesson 9

  • Exercises – Lesson 9

  • Mixed Costs

  • Step Variable Costs

  • Discretionary vs Committed Fixed Costs

  • The High Low Method

  • High-low Method Example

  • Least Squares Regression Method

  • Learning Curve Analysis

  • Cumulative Average-time Learning Model

  • Incremental Unit-time Learning Model

Lesson 10: Cost-volume-profit Analysis

  • PowerPoint – Lesson 10

  • Exercises – Lesson 10

  • Contribution Margin Income Statement vs Traditional Format

  • Contribution Format Income Statement

  • Contribution Margin

  • Gross Margin vs Contribution Margin Formula

  • Contribution Margin Ratio

  • Calculating Break Even Point

  • Break-even Point (in units)

  • Break-even Point (in sales dollars)

  • Target Profit

  • Target After Tax Profit

  • Margin of Safety

  • Margin of Safety Percentage Example

  • Degree of Operating Leverage

  • Degree of Operating Leverage Example

  • Multiproduct Break-even Point

Lesson 11: Variable Costing

  • PowerPoint – Lesson 11

  • Exercises – Lesson 11

  • Absorption Costing

  • Variable Costing

  • Absorption vs. Variable Costing

  • Absorption Costing Example

  • Variable Costing Example

  • Absorption Costing Profit vs. Variable Costing Profit

  • Advantages of Variable Costing

  • Disadvantages of Variable Costing

Lesson 12: Budgeting

  • PowerPoint – Lesson 12

  • Exercises – Lesson 12

  • Introduction to Budgeting

  • Participative vs. Traditional Budgets

  • Rolling Budget

  • Zero-based Budgeting

  • Master Budget

  • Sales Budget

  • Schedule of Expected Cash Collections

  • Production Budget

  • Direct Materials Budget

  • Direct Labor Budget

  • Manufacturing Overhead Budget

  • Ending Inventory Budget

  • SG&A Budget

  • Cash Budget

  • Merchandise Purchases Budget

  • Advantages of Budgeting

  • Disadvantages of Budgeting

Lesson 13: Flexible Budgeting

  • PowerPoint – Lesson 13

  • Exercises – Lesson 13

  • Flexible Budgeting

  • Revenue and Spending Variance Analysis

  • Calculating a Revenue Variance

  • Calculating a Spending Variance

  • Advantages of Flexible Budgeting

  • Disadvantages of Flexible Budgeting

Lesson 14: Standard Costing

  • PowerPoint – Lesson 14

  • Exercises – Lesson 14

  • Management by Exception

  • Standard Costs and Variance Analysis

  • Materials Price Variance

  • Materials Quantity Variance

  • Materials Quantity Variance (purchases ≠ amount used)

  • Direct Materials Variance Analysis

  • Labor Rate Variance

  • Labor Efficiency Variance

  • Direct Labor Variance Analysis

  • Variable Overhead Spending Variance

  • Variable Overhead Efficiency Variance

  • Fixed Overhead Spending Variance

  • Fixed Overhead Production Volume Variance

  • Advantages of Standard Costing

  • Disadvantages of Standard Costing

Lesson 15: Capital Budgeting

  • PowerPoint – Lesson 15

  • Exercises – Lesson 15

  • Time Value of Money

  • Present Value of a Single Amount

  • Present Value of an Ordinary Annuity

  • Present Value of a Perpetuity

  • Present Value of a Growing Annuity

  • Present Value of an Annuity Due

  • Ordinary Annuity vs. Annuity Due

  • Net Present Value (NPV)

  • NPV Example

  • Internal Rate of Return

  • IRR of a Single Cash Flow

  • Calculating IRR (using trial and error)

  • Payback Period Method Example

  • Discounted Payback Period Method

  • NPV vs. IRR

Lesson 16: Key Performance Indicators

  • PowerPoint – Lesson 16

  • Exercises – Lesson 16

  • Return on Investment (ROI)

  • Residual Income

  • ROI vs. Residual Income

  • Economic Value Added (EVA)

  • EVA Example

  • Weighted Average Cost of Capital (WACC)

  • Cost to Acquire a Customer

  • Churn Rate

  • Lifetime Value of a Customer

  • Lifetime Value of a Customer vs. Customer Acquisition Cost

  • Sales Per Square Foot

  • Same-store Sales

  • Daily Active Users

Lesson 17: Balanced Scorecard

  • PowerPoint – Lesson 17

  • Exercises – Lesson 17

  • Balanced Scorecard

  • Learning and Growth Perspective

  • Internal Process Perspective

  • Customer Perspective

  • Financial Perspective

  • Strategy Maps

Lesson 18: Segment Reporting

  • PowerPoint – Lesson 18

  • Exercises – Lesson 18

  • Decentralization

  • Advantages of Decentralization

  • Disadvantages of Decentralization

  • Responsibility Accounting

  • Responsibility Centers

  • Cost Center

  • Revenue Center

  • Profit Center

  • Investment Center

  • 3 Ways to Allocate Common Costs

  • Stand-alone Cost Allocation

  • Incremental Cost Allocation

  • Shapley Value Cost Allocation

Lesson 19: Relevant Costs

  • PowerPoint – Lesson 19

  • Exercises – Lesson 19

  • Make or Buy Decision

  • Make or Buy Decision (with opportunity cost)

  • Sell or Process Further Decision

  • Deciding to Drop a Product Line

  • Deciding to Drop a Product Line (shortcut)

  • Accept or Reject Special Order

Lesson 20: Transfer Pricing

  • PowerPoint – Lesson 20

  • Exercises – Lesson 20

  • Transfer Pricing

  • Market-based Transfer Price

  • Cost-based Transfer Price

  • Negotiated Transfer Price

  • Full Cost Transfer Pricing

  • Transfer Pricing (with Excess Capacity)

  • Transfer Pricing (No Excess Capacity)

  • Dual Rate Transfer Pricing

  • Transfer Pricing and Tax Avoidance

  • Target Costing

  • The 4 Costs of Quality

Lesson 21: Product Pricing

  • PowerPoint – Lesson 21

  • Exercises – Lesson 21

Lesson 22: Inventory Management

  • PowerPoint – Lesson 22

  • Exercises – Lesson 22

  • Ordering Costs

  • Carrying Costs

  • Economic Order Quantity Example

  • Reorder Point

  • Material Requirements Planning

  • Just In Time (JIT) Inventory System

  • Enterprise Resource Planning (ERP) System

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