Free online courseManagement Accounting

Course Description

Welcome to the comprehensive "Management Accounting" course, meticulously designed to equip you with essential skills and knowledge in accounting and strategic management within a business context. Spanning a dedicated 9 hours and 49 minutes, this course is an invaluable resource for those aspiring to excel in the realms of business administration, with a specific focus on accounting principles and their practical application.

The journey begins with an introduction to the fundamentals of management accounting. You will explore the distinctions between financial and managerial accounting, engaging with sample problems that bring these differences to light. The course then delves into strategic planning, directing, and controlling processes, illustrated through real-world examples that enhance your comprehension of these critical functions.

Ethics in managerial accounting is another key area of focus, helping you understand the importance of integrity and ethical considerations in financial decision-making. Moving forward, you’ll learn about the schedule of cost of goods manufactured, with detailed explanations and examples provided over several segments to ensure you gain a thorough grasp of this concept.

Job order costing is covered extensively, including explanations, predetermined overhead rate calculations, and journal entry sample problems. This is followed by process costing, offering both theoretical insights and practical problem-solving scenarios. You will also explore activity-based costing, understanding its implications and application in various business contexts.

Cost behavior analysis is another crucial topic, accompanied by exercises in graphing costs and employing methods like high-low, scattergraph, and least squares regression. The course includes an in-depth look at breakeven point analysis and cost-volume-profit (CVP) analysis, with multiple sample problems to enhance your analytical skills.

Budgeting is vital in any business, and this course provides comprehensive coverage of various budget types, including production, materials purchases, direct labor, manufacturing overhead, selling and administrative expenses, cash budgets, and more. Each budget type is explained and complemented by sample problems to ensure practical understanding.

Variance analysis is dissected in detail, covering direct materials, labor, and overhead variances through explanatory content and sample problems. Flexible budgets and capital budgeting are also demystified, equipping you with the skills to create and analyze budgets effectively.

The course culminates in advanced topics such as the balanced scorecard, ROI and residual income calculations, transfer pricing, and relevant costs for decision-making. These lessons are reinforced with sample problems that mirror real-life business scenarios, ensuring you can apply what you've learned in practical settings.

"Management Accounting" is an intensive course that leaves no stone unturned, offering a rich blend of theoretical knowledge and practical application. Whether you're a seasoned professional looking to refine your skills or a newcomer eager to build a strong foundation, this course promises to be an invaluable asset to your professional development in business administration and accounting.