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Origin of Managerial Accounting

Introduction to Managerial Accounting

Financial vs. Managerial Accounting

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

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

Job-Order Costing

Job-Order Costing Example

Predetermined Overhead Rate

Applying Manufacturing Overhead

Actual vs. Applied Overhead

Underapplied or Overapplied MOH

3 Types of Inventory

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

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

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

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

Basics of Operation Costing

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

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

Contribution Format Income Statement

Contribution Margin

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

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

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

Flexible Budgeting

Revenue and Spending Variance Analysis

Calculating a Revenue Variance

Calculating a Spending Variance

Advantages of Flexible Budgeting

Disadvantages of Flexible Budgeting

Management by Exception

Standard Costs and Variance Analysis

Materials Price Variance

Materials Quantity Variance

Materials Quantity Variance (purchases â‰ 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

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

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

Balanced Scorecard

Learning and Growth Perspective

Internal Process Perspective

Customer Perspective

Financial Perspective

Strategy Maps

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

Relevant Costs

Make or Buy Decision

Make or Buy Decision (with opportunity cost)

Sell or Process Further Decision

Deciding whether to Drop a Product Line

Deciding whether to Drop a Product Line (shortcut)

Accept or Reject Special Order

Ordering Costs

Carrying Costs

Economic Order Quantity Example

Reorder Point

Material Requirements Planning

Just In Time (JIT) Inventory System

Enterprise Resource Planning (ERP) System

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