Analyzing Cost Data for Management (Management / Cost Accounting) - v12 (Course Id 1754)

Accounting - Accounting for Course Id 1754

Analyzing Cost Data for Management covers the managerial use of accounting, financial, and operating data for planning, control, and decision making. The course is designed for managers and entrepreneurs who need hand-on knowledge and tools in processing, developing, and analyzing financial, cost, and business data for managerial use. Topics include strategic cost management, analysis of costs; break-even and contribution analysis; cost behavior analysis; activity-based costing (ABC); responsibility accounting and corporate balanced scorecard (CBS); budget for profit planning; short-term decisions; capital budgeting. 

NASBA QAS - Text - Technical - NASBA Registry - 1754

Chapter 1
Introduction to Management Accounting

• Recognize the concerns of management accounting.
  
• Recognize the function of management in planning, controlling and decision making, and the role of the financial management.
  
• Identify some popular certificates that recognize the expertise in the fields of cost/managerial accounting and internal auditing

Chapter 2
Cost Classifications and Profit Concepts

• Identify examples of each of the basic cost elements involved in the manufacture of the product.
  
• Recognize various cost concepts, and differentiate between the traditional income statement and the contribution income statement.

Chapter 3
Job Order Costing

• Recognize different approaches to costing such as job order costing and the objectives of a cost accounting system.
  
• Identify the benefits and disadvantages of different costing approaches.

Chapter 4
Overhead Allocation

• Recognize cost components used for activity-based costing (ABC).
  
• Recognize attributes tracked to in a value chain analysis.

Chapter 5
Cost-Volume-Profit Analysis

• Recognize various contribution margin concepts.
  
• Identify several factors used to compute a cost-volume-profit analysis.
  
• Calculate break-even points and recognize ways to the reduce break-even point.

Chapter 6
Cost Behavior Analysis

• Recognize the advantages and disadvantages of the classifying cost behaviors and types.
  
• Recognize methods for estimating the cost-volume formula.

Chapter 7
Budgeting System

• Recognize major steps in the preparation of a budget.
  
• Recognize how a financial modeling approach may be used in the planning process.

Chapter 8
Control of Cost Center

• Distinguish among three types of responsibility centers.
  
• Identify different types of variances for manufacturing costs and the managerial significance of these variances.
  
• Identify the different variance analysis techniques for factory overhead.

Chapter 9
Evaluation of Investment Centers

• Identify the primary differences between centralized and decentralized in performance evaluation.
  
• Recognize how ROI, RI (residual income), and EVA (economic value added) measurements affect the division's investment decision.
  
• Recognize the basic features of the Corporate Balanced Scorecard.

Chapter 10
Making Short-Term Decisions

• Identify the costs that are relevant for a particular decision.

Chapter 11
Making Long-Term Decisions

• Recognize several concepts involved with the time value of money.
  
• Identify the types and special features of several capital budgeting techniques.
  
• Calculate internal rate of return.

Chapter 12
The Effect of Income Tax on Investment Decisions

• Recognize how income tax factors affect investment decisions.

Chapter 7:    Budgeting System

Learning Objectives

Types of Budgets

Operating Budget

Financial Budget

Summary

Chapter 7 Review Questions

Chapter 8:    Control of Cost Center

Learning Objectives

Responsibility Accounting

Standard Cost System

Variance Analysis

Use of Flexible Budgets

Nonfinancial Performance Measures

Summary

Chapter 8 Review Questions

Chapter 9:    Evaluation of Investment Centers

Learning Objectives

Rate of Return on Investment

Residual Income

Investment Decisions: ROI vs. RI

Other Matters

Summary

Chapter 9 Review Questions

Chapter 10:    Making Short-Term Decisions

Learning Objectives

Relevant Costs Determination

Types of Short-Term Decisions

Other Matters

Summary

Chapter 10 Review Questions

Chapter 11:    Making Long-Term Decisions

Learning Objectives

Features of Long-Term Investment

The Concept of Time Value of Money

Methods of Evaluating Investment Projects

Summary

Chapter 11 Review Questions

Chapter 12:    The Effect of Income Tax on Investment Decisions

Learning Objectives

After-Tax Cash Inflows Determination

Traditional Depreciation Methods

Modified Accelerated Cost Recovery System

Summary

Chapter 12 Review Questions

Appendix: Time Value Tables

Glossary