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| Author : | Jae K. Shim, Ph.D., CPA |
| Status : | Production |
| CPE Credits : | 7.5 |
| IRS Credits : | 0 |
| Price : | $67.45 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
| Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 907 |
| Description : | A primer on the basic theoretical concepts and the practical procedures of financial record keeping and reporting, and the use of financial and cost data in managerial decision making. It provides an understanding and working knowledge of the fundamentals of financial and managerial accounting that can be put to practical application in day-to-day jobs of managers. It also concentrates on providing a working vocabulary for communication. Topics include accounting principles and reporting trends, accounting conventions and systems, interpretation and analysis of financial statements; cash flow statement; break-even analysis; activity-based costing (ABC); responsibility accounting; budget for profit planning; short-term and long-term investment decision making. A list of computer software for accounting, ABC, and budgeting is presented. Accounting for Management is a basic survey course specifically designed for managers and business owners. Each accounting subject is presented in a clear and concise manner that enables a beginning learner to quickly grasp and understand the topic under discussion. This course provides students with their first practical exposure to such accounting topics as fundamental accounting concepts and tools, financial statements, and managerial use of accounting information. The goals of the course are threefold:
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| Usage Rank : | 0 |
| Release : | 2020 |
| Version : | 1.0 |
| Prerequisites : | None |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed |
| Additional Links : |
Financial Accounting Centers Concepts and Tools by Ludmila SSRN
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| Advance Preparation : | None |
| Delivery Method : | Self-Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE) |
| Revision Date : | 30-Dec-2020 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | NASBA QAS - Text - Technical - NASBA Registry - 907 |
| Keywords : | Accounting, Accounting, Management, Concepts, Tools, v10, cpe, cpa, online course |
| Learning Objectives : |
Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
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| Course Contents : | Chapter 1: Introduction to Accounting Learning Objectives: Nature and Scope of Accounting Accounting: The Basis for Decision Making The Major Areas of Accounting Private Accounting Public Accounting Governmental Accounting Major Accounting Rule-Making Organizations American Institute of CPAs Financial Accounting Standards Board (FASB) Securities and Exchange Commission (SEC) The International Accounting Standards Board (IASB) Public Company Accounting Oversight Board (PCAOB) Governmental Accounting Standards Board (GASB) Other Organizations The Global Trends and Developments in Financial Reporting The Basic Accounting Principles Historical Cost Conservatism Consistency Comparability Going Concern Matching Realization Accrual Materiality Disclosure Objectivity Timeliness Relevant Stable Dollar Accounting Period Entity The Concept of the Business Entity Sole Proprietorship Partnership Corporation Limited Liability Corporation (LLC) Presenting Accounting Information through Financial Statements Balance Sheet Owners’ Equity Income Statement Statement of Cash Flows Chapter 1 Review Questions Chapter 2: Understanding the Financial Statements Learning Objectives: The Income Statement and Balance Sheet Revenue Expenses Net Income (Loss) Assets Liabilities Equity The Statement of Cash Flows FASB Requirements Accrual Basis of Accounting Operating Activities Investing Activities Financing Activities Considerations of Certain Cash Receipts and Cash Payments Notes to Financial Statements Summary Chapter 2 Review Questions Chapter 3: Recording Financial Information and Accounting Conventions Learning Objectives: Double Entry and the Accounting Equation The Accounting Equation The Account Ledger A Chart of Accounts The System of Debits and Credits The "How and Why" of Debits and Credits Journals Types of Depreciation Methods Straight-Line Method Sum-of-the-Years'-Digits (SYD) Method Double-Declining-Balance (DDB) Method Units of Production Method Which Method to Use Summary Chapter 3 Review Questions Chapter 4: Analysis of the Financial Statements Learning Objectives: Who Uses Financial Analysis? Internal Managers External Users Horizontal and Vertical Analysis Financial Statement Analysis Trend Analysis Ratio Analysis Liquidity Analysis Working Capital Accounts-Receivable Ratios Inventory Ratios Interrelationship of Liquidity and Activity to Earnings Measuring a Company’s Ability to Pay Its Long-Term Debt Profitability Ratios Earnings per Share Evaluating Stock as an Investment Book Value and Market Value Per Share for Selected Companies Limitations of Ratio Analysis Summary Chapter 4 Review Questions Chapter 5: What Is Management Accounting? Learning Objectives: Financial Accounting versus Management Accounting The Work of Management Cost Accounting versus Management Accounting Controllership Managerial Accounting in the New Production Environment Total Quality Management and Quality Costs Continuous Improvement (Ci) and Benchmarking Business Process Reengineering (BPR) Just-in-Time and Lean production Theory of Constraints (TOC) and Bottlenecks Management Cost Classifications and Profit Concepts Costs by Management Function Product Costs and Period Costs Direct Costs and Indirect Costs Direct Costs of Nonmanufacturing Firms Variable Costs, Fixed Costs, and Mixed Costs Unit Costs and Total Costs Unit Costs for Planning, Control, and Decision Making Merchandising vs Manufacturing Organizations Income Statements and Balance Sheets - Manufacturer The Contribution Income Statement Chapter 5 Review Questions Chapter 6: Product Costing Methods: Job Order Costing, Process Costing, And Activity-Based Costing Learning Objectives: Job Order Costing and Process Costing Compared DIFFERENCES BETWEEN JOB ORDER COSTING AND PROCESS COSTING Job Order Costing Job Cost Records Factory Overhead Application Predetermined Factory Overhead Rate Disposition of Under- and Over-Applied Overhead Plantwide versus Departmental Overhead Rates TOTAL PRODUCT COSTS AND PROFITS Activity-Based Costing Composition of Product Cost First-Stage Procedure Second-Stage Procedure Using Activity-Based Costing To Make Marketing Decisions Chapter 6 Review Questions Chapter 7: Cost Behavior and Cost-Volume-Profit Analysis Learning Objectives: A Further Look at Costs by Behavior Types of Fixed Costs ‑ Committed or Discretionary Analysis of Mixed (Semi-variable) Costs Relevant Range Engineering Analysis Account Analysis The High-Low Method Questions Answered by CVP Analysis Contribution Margin (CM) Break‑Even Analysis Graphical Approach Determination of Target Income Volume Impact of Income Taxes Margin of Safety Present Proposed Difference Sales Mix Analysis Deluxe Standard Chapter 7 Review Questions Chapter 8: Budgeting and Standard Cost Systems Learning Objectives: Types of Budgets Figure 1 Comprehensive Master Budget The Sales Budget Monthly Cash Collections from Customers The Production Budget Inventory Purchases – Merchandising Firm The Cash Budget The Budgeted Income Statement The Budgeted Balance Sheet Financial Modeling Standard Costs and Variance Analysis General Model for Variance Analysis Materials Variances Labor Variances Variable Overhead Variances Nonfinancial Performance Measures Chapter 8 Review Questions Chapter 9: Responsibility Accounting Learning Objectives: Responsibility Accounting and Responsibility Center Control of Profit Centers Segmental Reporting for Profit Centers Control of Investment Centers Rate of Return on Investment (ROI) The Breakdown of ROI -- Du Pont Formula ROI and Profit Planning Residual Income (RI) Residual Income and Economic Value Added Investment Decisions under ROI and RI Chapter 9 Review Questions Chapter 10: Relevant Costs and Short-Term Decisions Learning Objectives: Relevant Costs Defined Pricing a Special Order Outsourcing: The Make or Buy Decision The Sell-or-Process-Further Decision Keeping or Dropping a Product Line Product Mix Decisions in the Presence of Limited Resources Theory of Constraints You Should Remember Chapter 10 Review Questions Chapter 11: Capital Budgeting Decisions Learning Objectives: What are the Features of Investment Projects? Understanding the Concept of the Time Value of Money What Is Present Value ‑ How Much Money Is Worth Now? Present Value of Mixed Streams of Cash Flows Present Value of an Annuity How Do You Measure Investment Worth? Payback Period Accounting Rate of Return Internal Rate of Return Net Present Value NPV versus IRR: Mutually Exclusive Projects Time Value Tables Table 1 - The Present Value of $1.00 Table 2 - The Present Value of an Ordinary Annuity of $1.00 Chapter 11 Review Questions Glossary |
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