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Internal controls are required to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud. This internal control course will describe the importance of internal controls and the purpose of the audit committee. This course will review the goals for internal controls and discuss the internal control framework used by most companies based in the United States. This course will describe the interrelated components of an effective internal accounting control system. This course will discuss the importance of identifying audit risk. Finally, this course will discuss the difference between control deficiency, significant deficiency, and material weakness.

Accounting Internal Controls (2 Hrs)

Budgeting consumes a massive amount of time and resources. It's a stressful and busy time.

Are there ways to improve the effectiveness of the investment we make in the budget process? Can we make better budgeting decisions that lead to higher performance?

There are options within and beyond traditional budgeting. Each company should consider these options and decide which could improve their budgeting process. Budgeting has many benefits that we can continue to capture and build upon.

This online budgeting course starts by outlining the benefits and challenges of budgeting. Throughout this course, I'll provide tips and alternative budget systems that can mitigate these challenges and capture more benefits.

Next, you'll learn or revisit some foundational concepts for budgeting. I'll build on these to show the pros and cons of later budgeting tips, ideas, and alternatives.

The master budget is a collection of many sub-budgets. I'll show how these fit together to form an aligned plan to achieve a company's strategic goals. There's a method to the madness of when different types of assumptions and calculations are layered into the budget. However, the process is not entirely sequential. It abounds with iterative loops.

The third section walks step-by-step through the budget formation process. The purpose and role of the budget can best be explained in the context of strategic planning. We'll explore which analyses can be done throughout the year to take pressure off the very busy budgeting season. Some lessons cover the nuts and bolts of budget reporting and budgeting tools.

I'll explore a series of budgeting alternatives in the final section of the course. We'll look at rolling forecasts, zero-based budgeting, activity-based budgeting, and many others. We'll also look at operating without a budget. Each alternative has pros and cons that I'll list.

Each lesson in this section gives an overview of the budget alternative to help you decide whether you want to pursue that alternative further. Even if you don't fully adopt these alternatives, you can find ideas to improve your budgeting process.

The online budgeting course concludes by revisiting budgeting process challenges and how the tips and alternatives presented in the course can address or mitigate those challenges.

The course author has been the CFO, SVP of Finance, or Director of Operations of companies with just a few employees to companies with $3 billion in assets and hundreds of employees. He's led, facilitated, or participated in the budgeting process many times.  

Better Budgeting: Budgeting for Better Decisions (10 Hrs)

All business entities require information to operate efficiently and effectively. The accounting system is one of the most important systems for the organization’s decision makers. Accounting information systems collect and process data from transactions and events, organize them in useful reports, and communicate results to decision makers. Accounting Systems and Financial Statements is a course that will describe what information must be collected to properly report on a business. This course will describe the four major types of financial statements and define the standards that are used to create financial reports. This course will define the various elements for the four major financial statements. This course will review the framework for adjustments and describe the common adjustments that must be made at the end of each accounting period, so they are accurate.

Accounting Systems and Financial Statements (3 Hrs)

Every business has both current and long-term liabilities that must be tracked and recorded. Accounting for Current and Long-Term Liabilities is a course that discusses important characteristics of liabilities and how liabilities are classified and reported in financial statements. This course will identify how to distinguish between current and long-term liabilities. This course will identify what liabilities are classified as current liabilities and what liabilities are classified as long-term liabilities. This Accounting for Current and Long-Term Liabilities course will also provide examples of recording both.

Accounting for Current and Long-Term Liabilities (2 Hrs)

A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Since the turn of the century, the U.S. has seen some large corporate collapses and scandals due to shoddy and deceptive accounting practices. Many companies, shareholders and employees suffered as stock prices fell and reputations were tarnished when businesses conducted questionable practices.

This course is divided into four chapters. Chapter 1 identifies the common financial shenanigans demonstrated with a series of real-life cases and addressed ongoing financial reporting issues (e.g., restatements, SEC enforcement actions). The failure of corporate governance and auditor’s role in Enron’s collapse are also discussed. Chapter 2 explains the basic accounting rules for stock-based compensation. It also identifies regulations that protect investors from unethical business practices. Chapter 3 focuses on the impact of Sarbanes-Oxley Act including the creation of PCAOB, reforms of corporate America, and improvements in audit quality. It also discusses internal control reporting requirements, the role of the audit committee, and disclosure controls and personal accountability.  Chapter 4 identifies ways to promote high levels of accountability and transparency. It explains the importance of business ethics and corporate social responsibility. It also discusses the role of good corporate governance in protecting shareholder value.

Fraud- Ensuring Integrity in Financial Reporting (6 Hrs)
A/B
Suggested Courses

Internal controls are required to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud. This internal control course will describe the importance of internal controls and the purpose of the audit committee. This course will review the goals for internal controls and discuss the internal control framework used by most companies based in the United States. This course will describe the interrelated components of an effective internal accounting control system. This course will discuss the importance of identifying audit risk. Finally, this course will discuss the difference between control deficiency, significant deficiency, and material weakness.

Accounting Internal Controls (2 Hrs)

Budgeting consumes a massive amount of time and resources. It's a stressful and busy time.

Are there ways to improve the effectiveness of the investment we make in the budget process? Can we make better budgeting decisions that lead to higher performance?

There are options within and beyond traditional budgeting. Each company should consider these options and decide which could improve their budgeting process. Budgeting has many benefits that we can continue to capture and build upon.

This online budgeting course starts by outlining the benefits and challenges of budgeting. Throughout this course, I'll provide tips and alternative budget systems that can mitigate these challenges and capture more benefits.

Next, you'll learn or revisit some foundational concepts for budgeting. I'll build on these to show the pros and cons of later budgeting tips, ideas, and alternatives.

The master budget is a collection of many sub-budgets. I'll show how these fit together to form an aligned plan to achieve a company's strategic goals. There's a method to the madness of when different types of assumptions and calculations are layered into the budget. However, the process is not entirely sequential. It abounds with iterative loops.

The third section walks step-by-step through the budget formation process. The purpose and role of the budget can best be explained in the context of strategic planning. We'll explore which analyses can be done throughout the year to take pressure off the very busy budgeting season. Some lessons cover the nuts and bolts of budget reporting and budgeting tools.

I'll explore a series of budgeting alternatives in the final section of the course. We'll look at rolling forecasts, zero-based budgeting, activity-based budgeting, and many others. We'll also look at operating without a budget. Each alternative has pros and cons that I'll list.

Each lesson in this section gives an overview of the budget alternative to help you decide whether you want to pursue that alternative further. Even if you don't fully adopt these alternatives, you can find ideas to improve your budgeting process.

The online budgeting course concludes by revisiting budgeting process challenges and how the tips and alternatives presented in the course can address or mitigate those challenges.

The course author has been the CFO, SVP of Finance, or Director of Operations of companies with just a few employees to companies with $3 billion in assets and hundreds of employees. He's led, facilitated, or participated in the budgeting process many times.  

Better Budgeting: Budgeting for Better Decisions (10 Hrs)

All business entities require information to operate efficiently and effectively. The accounting system is one of the most important systems for the organization’s decision makers. Accounting information systems collect and process data from transactions and events, organize them in useful reports, and communicate results to decision makers. Accounting Systems and Financial Statements is a course that will describe what information must be collected to properly report on a business. This course will describe the four major types of financial statements and define the standards that are used to create financial reports. This course will define the various elements for the four major financial statements. This course will review the framework for adjustments and describe the common adjustments that must be made at the end of each accounting period, so they are accurate.

Accounting Systems and Financial Statements (3 Hrs)

Every business has both current and long-term liabilities that must be tracked and recorded. Accounting for Current and Long-Term Liabilities is a course that discusses important characteristics of liabilities and how liabilities are classified and reported in financial statements. This course will identify how to distinguish between current and long-term liabilities. This course will identify what liabilities are classified as current liabilities and what liabilities are classified as long-term liabilities. This Accounting for Current and Long-Term Liabilities course will also provide examples of recording both.

Accounting for Current and Long-Term Liabilities (2 Hrs)

A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Since the turn of the century, the U.S. has seen some large corporate collapses and scandals due to shoddy and deceptive accounting practices. Many companies, shareholders and employees suffered as stock prices fell and reputations were tarnished when businesses conducted questionable practices.

This course is divided into four chapters. Chapter 1 identifies the common financial shenanigans demonstrated with a series of real-life cases and addressed ongoing financial reporting issues (e.g., restatements, SEC enforcement actions). The failure of corporate governance and auditor’s role in Enron’s collapse are also discussed. Chapter 2 explains the basic accounting rules for stock-based compensation. It also identifies regulations that protect investors from unethical business practices. Chapter 3 focuses on the impact of Sarbanes-Oxley Act including the creation of PCAOB, reforms of corporate America, and improvements in audit quality. It also discusses internal control reporting requirements, the role of the audit committee, and disclosure controls and personal accountability.  Chapter 4 identifies ways to promote high levels of accountability and transparency. It explains the importance of business ethics and corporate social responsibility. It also discusses the role of good corporate governance in protecting shareholder value.

Fraud- Ensuring Integrity in Financial Reporting (6 Hrs)
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Similar Courses

Internal controls are required to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud. This internal control course will describe the importance of internal controls and the purpose of the audit committee. This course will review the goals for internal controls and discuss the internal control framework used by most companies based in the United States. This course will describe the interrelated components of an effective internal accounting control system. This course will discuss the importance of identifying audit risk. Finally, this course will discuss the difference between control deficiency, significant deficiency, and material weakness.

Accounting Internal Controls (2 Hrs)

Budgeting consumes a massive amount of time and resources. It's a stressful and busy time.

Are there ways to improve the effectiveness of the investment we make in the budget process? Can we make better budgeting decisions that lead to higher performance?

There are options within and beyond traditional budgeting. Each company should consider these options and decide which could improve their budgeting process. Budgeting has many benefits that we can continue to capture and build upon.

This online budgeting course starts by outlining the benefits and challenges of budgeting. Throughout this course, I'll provide tips and alternative budget systems that can mitigate these challenges and capture more benefits.

Next, you'll learn or revisit some foundational concepts for budgeting. I'll build on these to show the pros and cons of later budgeting tips, ideas, and alternatives.

The master budget is a collection of many sub-budgets. I'll show how these fit together to form an aligned plan to achieve a company's strategic goals. There's a method to the madness of when different types of assumptions and calculations are layered into the budget. However, the process is not entirely sequential. It abounds with iterative loops.

The third section walks step-by-step through the budget formation process. The purpose and role of the budget can best be explained in the context of strategic planning. We'll explore which analyses can be done throughout the year to take pressure off the very busy budgeting season. Some lessons cover the nuts and bolts of budget reporting and budgeting tools.

I'll explore a series of budgeting alternatives in the final section of the course. We'll look at rolling forecasts, zero-based budgeting, activity-based budgeting, and many others. We'll also look at operating without a budget. Each alternative has pros and cons that I'll list.

Each lesson in this section gives an overview of the budget alternative to help you decide whether you want to pursue that alternative further. Even if you don't fully adopt these alternatives, you can find ideas to improve your budgeting process.

The online budgeting course concludes by revisiting budgeting process challenges and how the tips and alternatives presented in the course can address or mitigate those challenges.

The course author has been the CFO, SVP of Finance, or Director of Operations of companies with just a few employees to companies with $3 billion in assets and hundreds of employees. He's led, facilitated, or participated in the budgeting process many times.  

Better Budgeting: Budgeting for Better Decisions (10 Hrs)

All business entities require information to operate efficiently and effectively. The accounting system is one of the most important systems for the organization’s decision makers. Accounting information systems collect and process data from transactions and events, organize them in useful reports, and communicate results to decision makers. Accounting Systems and Financial Statements is a course that will describe what information must be collected to properly report on a business. This course will describe the four major types of financial statements and define the standards that are used to create financial reports. This course will define the various elements for the four major financial statements. This course will review the framework for adjustments and describe the common adjustments that must be made at the end of each accounting period, so they are accurate.

Accounting Systems and Financial Statements (3 Hrs)

Every business has both current and long-term liabilities that must be tracked and recorded. Accounting for Current and Long-Term Liabilities is a course that discusses important characteristics of liabilities and how liabilities are classified and reported in financial statements. This course will identify how to distinguish between current and long-term liabilities. This course will identify what liabilities are classified as current liabilities and what liabilities are classified as long-term liabilities. This Accounting for Current and Long-Term Liabilities course will also provide examples of recording both.

Accounting for Current and Long-Term Liabilities (2 Hrs)

A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Since the turn of the century, the U.S. has seen some large corporate collapses and scandals due to shoddy and deceptive accounting practices. Many companies, shareholders and employees suffered as stock prices fell and reputations were tarnished when businesses conducted questionable practices.

This course is divided into four chapters. Chapter 1 identifies the common financial shenanigans demonstrated with a series of real-life cases and addressed ongoing financial reporting issues (e.g., restatements, SEC enforcement actions). The failure of corporate governance and auditor’s role in Enron’s collapse are also discussed. Chapter 2 explains the basic accounting rules for stock-based compensation. It also identifies regulations that protect investors from unethical business practices. Chapter 3 focuses on the impact of Sarbanes-Oxley Act including the creation of PCAOB, reforms of corporate America, and improvements in audit quality. It also discusses internal control reporting requirements, the role of the audit committee, and disclosure controls and personal accountability.  Chapter 4 identifies ways to promote high levels of accountability and transparency. It explains the importance of business ethics and corporate social responsibility. It also discusses the role of good corporate governance in protecting shareholder value.

Fraud- Ensuring Integrity in Financial Reporting (6 Hrs)
Suggested Courses

Internal controls are required to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud. This internal control course will describe the importance of internal controls and the purpose of the audit committee. This course will review the goals for internal controls and discuss the internal control framework used by most companies based in the United States. This course will describe the interrelated components of an effective internal accounting control system. This course will discuss the importance of identifying audit risk. Finally, this course will discuss the difference between control deficiency, significant deficiency, and material weakness.

Accounting Internal Controls (2 Hrs)

Budgeting consumes a massive amount of time and resources. It's a stressful and busy time.

Are there ways to improve the effectiveness of the investment we make in the budget process? Can we make better budgeting decisions that lead to higher performance?

There are options within and beyond traditional budgeting. Each company should consider these options and decide which could improve their budgeting process. Budgeting has many benefits that we can continue to capture and build upon.

This online budgeting course starts by outlining the benefits and challenges of budgeting. Throughout this course, I'll provide tips and alternative budget systems that can mitigate these challenges and capture more benefits.

Next, you'll learn or revisit some foundational concepts for budgeting. I'll build on these to show the pros and cons of later budgeting tips, ideas, and alternatives.

The master budget is a collection of many sub-budgets. I'll show how these fit together to form an aligned plan to achieve a company's strategic goals. There's a method to the madness of when different types of assumptions and calculations are layered into the budget. However, the process is not entirely sequential. It abounds with iterative loops.

The third section walks step-by-step through the budget formation process. The purpose and role of the budget can best be explained in the context of strategic planning. We'll explore which analyses can be done throughout the year to take pressure off the very busy budgeting season. Some lessons cover the nuts and bolts of budget reporting and budgeting tools.

I'll explore a series of budgeting alternatives in the final section of the course. We'll look at rolling forecasts, zero-based budgeting, activity-based budgeting, and many others. We'll also look at operating without a budget. Each alternative has pros and cons that I'll list.

Each lesson in this section gives an overview of the budget alternative to help you decide whether you want to pursue that alternative further. Even if you don't fully adopt these alternatives, you can find ideas to improve your budgeting process.

The online budgeting course concludes by revisiting budgeting process challenges and how the tips and alternatives presented in the course can address or mitigate those challenges.

The course author has been the CFO, SVP of Finance, or Director of Operations of companies with just a few employees to companies with $3 billion in assets and hundreds of employees. He's led, facilitated, or participated in the budgeting process many times.  

Better Budgeting: Budgeting for Better Decisions (10 Hrs)

All business entities require information to operate efficiently and effectively. The accounting system is one of the most important systems for the organization’s decision makers. Accounting information systems collect and process data from transactions and events, organize them in useful reports, and communicate results to decision makers. Accounting Systems and Financial Statements is a course that will describe what information must be collected to properly report on a business. This course will describe the four major types of financial statements and define the standards that are used to create financial reports. This course will define the various elements for the four major financial statements. This course will review the framework for adjustments and describe the common adjustments that must be made at the end of each accounting period, so they are accurate.

Accounting Systems and Financial Statements (3 Hrs)

Every business has both current and long-term liabilities that must be tracked and recorded. Accounting for Current and Long-Term Liabilities is a course that discusses important characteristics of liabilities and how liabilities are classified and reported in financial statements. This course will identify how to distinguish between current and long-term liabilities. This course will identify what liabilities are classified as current liabilities and what liabilities are classified as long-term liabilities. This Accounting for Current and Long-Term Liabilities course will also provide examples of recording both.

Accounting for Current and Long-Term Liabilities (2 Hrs)

A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Since the turn of the century, the U.S. has seen some large corporate collapses and scandals due to shoddy and deceptive accounting practices. Many companies, shareholders and employees suffered as stock prices fell and reputations were tarnished when businesses conducted questionable practices.

This course is divided into four chapters. Chapter 1 identifies the common financial shenanigans demonstrated with a series of real-life cases and addressed ongoing financial reporting issues (e.g., restatements, SEC enforcement actions). The failure of corporate governance and auditor’s role in Enron’s collapse are also discussed. Chapter 2 explains the basic accounting rules for stock-based compensation. It also identifies regulations that protect investors from unethical business practices. Chapter 3 focuses on the impact of Sarbanes-Oxley Act including the creation of PCAOB, reforms of corporate America, and improvements in audit quality. It also discusses internal control reporting requirements, the role of the audit committee, and disclosure controls and personal accountability.  Chapter 4 identifies ways to promote high levels of accountability and transparency. It explains the importance of business ethics and corporate social responsibility. It also discusses the role of good corporate governance in protecting shareholder value.

Fraud- Ensuring Integrity in Financial Reporting (6 Hrs)
Course Details

Cost Management: Accounting and Control - v12 (Course Id 1180)

QAS / Registry
  Add to Cart 
Author : Jae K. Shim, Ph.D., CPA
Course Length : Pages: 225 ||| Review Questions: 55 ||| Final Exam Questions: 65
CPE Credits : 13.0
IRS Credits : 0
Price : $107.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry
Technical Designation: Technical
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1180
Description :

Cost Management: Accounting and Control covers the managerial use of accounting, financial, and operating data for planning, control, and decision making. Emphasis is placed on how to manage costs strategically in order to be globally competitive. The course is designed for managers and entrepreneurs who seek continuous improvement (CI) strategies. Topics include analysis of costs; job order and process costing; break-even and contribution analysis; activity-based costing (ABC); balanced scorecard, cost allocation; responsibility accounting; budget for profit planning; short-term decisions; capital budgeting; quality costs and total quality management (TQM); inventory management and just in time (JIT).
Usage Rank : 22727
Release : 2022
Version : 1.0
Prerequisites : Basic Accounting.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Cost Accounting: Definition and Types With Examples
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 21-Feb-2023
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 - NASBA Registry - 1180
Keywords : Accounting, Cost, Management, Accounting, Control, v12, cpe, cpa, online course
Learning Objectives :

Chapter 1
Introduction to Cost Management

After studying this chapter, you will be able to:
  • Recognize the nature and scope of cost accounting and cost management.
  • Distinguish between cost accounting and its related fields such as managerial accounting and financial accounting.
  • Identify the three broad purposes for which the manager needs cost information and the roles of the treasury function.
  • Identify developments in the cost accounting and cost management discipline with total quality management and business process engineering.

Chapter 2
Cost Management Principles

After studying this chapter, you will be able to:
  • Identify examples of each of the basic cost elements involved in the manufacture of the product.
  • Distinguish between variable costs and fixed costs and explain the difference in their behavior.
  • Recognize the difference between direct and indirect costs.
  • Recognize the usefulness of the contribution approach to income determination and differences between it and the traditional income statement.

Chapter 3
Job Order Costing System

After studying this chapter, you will be able to:
  • Recognize classifications for manufacturing costs.
  • Identify types of companies that will benefit from process costing and what is involved in process costing.

Chapter 4
Overhead Allocation

After studying this chapter, you will be able to:
  • Recognize the problems associated with traditional overhead costing methods.
  • Associate different cost drivers with different cost pools.
  • Recognize activities in the value chain of business function in activity-based management (ABM).

Chapter 5
Cost-Volume-Profit Analysis

After studying this chapter, you will be able to:
  • Recognize how the cost-volume-profit analysis is used by management.
  • Determine how to calculate the sales necessary to break even or to achieve a target income.
  • Compute weighted-average contribution margins.
  • Recognize the concept of a margin of safety.

Chapter 6
Cost Behavior Analysis

After studying this chapter, you will be able to:
  • Recognize examples of variable costs, fixed costs, and mixed costs.
  • Identify methods for estimating the cost-volume formula.

Chapter 7
Budgeting System

After studying this chapter, you will be able to:
  • Identify the major steps in budget preparation.
  • Determine appropriate budget levels.

Chapter 8
Controlling Cost Centers

After studying this chapter, you will be able to:
  • Calculate different variances related to manufacturing costs.
  • Recognize responsibility accounting and the managerial significance of these variances.
  • Identify the value of the analysis provided by performance reporting.
  • Recognize the two-way, three-way, and four-way variance analysis for factory overhead.

Chapter 9
Measuring the Performance of a Profit Center

After studying this chapter, you will be able to:
  • Recognize how to calculate different variances associated with single and multi-product firms.

Chapter 10
Evaluating an Investment Center

After studying this chapter, you will be able to:
  • Understand how to compute return on investment (ROI) and how changes in sales, expenses, and assets affect the investment center's performance.
  • Identify how the residual income (RI) differs from ROI in measuring divisional performance.
  • Identify how companies use the Corporate Balanced Scorecard to evaluate performance.
  • Recognize the considerations required to determine appropriate transfer prices.

Chapter 11
Making Non-Routine Decisions

After studying this chapter, you will be able to:
  • Identify the costs that are relevant for a particular decision.
  • Recognize attributes in the theory of constraints.
  • Identify characteristics of the target costing process for a new product.

Chapter 12
Making Long-Term Decisions

After studying this chapter, you will be able to:
  • Identify the impact of the time value of money on capital budgeting decisions.
  • Recognize a number of capital budgeting techniques.

Chapter 13
The Effect of Income Taxes on Investment Decisions

After studying this chapter, you will be able to:
  • Recognize how income tax factors affect investment decisions.
  • Identify the different types of depreciation methods.
  • Recognize the effect of the Modified Accelerated Cost Recovery System (MACRS) on capital budgeting decisions.

Chapter 14
Process Costing

After studying this chapter, you will be able to:
  • Recognize how to choose the right system for cost accumulations.
  • Distinguish between the weighted-average and first-in, first-out (FIFO) process costing methods.
  • Recognize different methods of allocating service department costs to production department work.

Chapter 15
Quality Management

After studying this chapter, you will be able to:
  • Identify how total quality management (TQM) in a manufacturing environment is best exemplified.
  • Recognize how TQM can work well in a team environment and how quality can be used as a strategic weapon.

Chapter 16
Inventory and Order Management

After studying this chapter, you will be able to:
  • Recognize the carrying costs and ordering costs associated with inventory management.
  • Identify the objectives of the basic economic order quantity (EOQ) model.
Course Contents :

Chapter 1:    Introduction to Cost Management

Learning Objectives

Nature and Scope of Cost Accounting

Cost Accounting Standards Board

Cost Management Philosophies

Professional Certifications

Summary

Chapter 1 Review Questions

Chapter 2:    Cost Management Principles

Learning Objectives

Cost Classifications

Merchandising vs. Manufacturing Organizations

Contribution Income Statement

Summary

Chapter 2 Review Questions

Chapter 3:    Job Order Costing System

Learning Objectives

Job Order vs. Process Costing

Overhead Application

Comprehensive Illustration

Summary

Chapter 3 Review Questions

Chapter 4:    Overhead Allocation

Learning Objectives

Weakness in Traditional Methods

Activity-Based Costing

Allocation of Indirect Cost Pools

Activity-Based Management

Summary

Chapter 4 Review Questions

Chapter 5:    Cost-Volume-Profit Analysis

Learning Objectives

Fundamentals

What-If Analysis

Sales Mix

Step-Function Costs

Summary

Chapter 5 Review Questions

Chapter 6:    Cost Behavior Analysis

Learning Objectives

Types of Cost by Behavior

Cost Estimation Methods

Summary

Chapter 6 Review Questions

Chapter 7:    Budgeting System

Learning Objectives

Types of Budgets

Operating Budget

Financial Budget

Other Matters

Summary

Chapter 7 Review Questions

Chapter 8:    Controlling Cost Centers

Learning Objectives

Responsibility Accounting

Standard Cost System

Variance Analysis

Use of Flexible Budgets

Non-Financial Performance Measures

Summary

Chapter 8 Review Questions

Chapter 9:    Measuring the Performance of a Profit Center

Learning Objectives

The Contribution Approach

Profit Variance Analysis

Summary

Chapter 9 Review Questions

Chapter 10:    Evaluating an Investment Center

Learning Objectives

Rate of Return on Investment

Residual Income

Investment Decisions: ROI vs. RI

Balanced Scorecard

Other Matters

Summary

Chapter 10 Review Questions

Chapter 11:    Making Non-Routine Decisions

Learning Objectives

Relevant Costs Determination

Types of Non-Routine Decisions

Other Matters

Summary

Chapter 11 Review Questions

Chapter 12:    Making Long-Term Decisions

Learning Objectives

Features of Long-Term Investment

The Concept of Time Value of Money

Methods to Evaluate Investment Projects

Summary

Chapter 12 Review Questions

Chapter 13:    The Effect of Income Taxes on Investment Decisions

Learning Objectives

Determining After-Tax Cash Inflows

Traditional Depreciation Methods

Modified Accelerated Cost Recovery System

Summary

Chapter 13 Review Questions

Chapter 14:    Process Costing

Learning Objectives

Fundamentals

Weighted Average and FIFO Methods

Use of Process Cost Data

Spoilage

Allocation of Service Department Costs

Joint Product and Byproduct Costs Allocation

Summary

Chapter 14 Review Questions

Chapter 15:    Quality Management

Learning Objectives

Significance of Quality Management

Role of Cost of Quality

Total Quality Management

Summary

Chapter 15 Review Questions

Chapter 16:   Inventory and Order Management

Learning Objectives

Inventory Optimization Models

Just-In-Time Inventory System

Summary

Chapter 16 Review Questions

Glossary
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