Management Accounting
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Management Accounting bridges the gap between accounting data and strategic decision-making, equipping learners with the tools to analyze and interpret financial information for managerial purposes. This course begins with foundational costing techniques such as material costing, labor costing, overhead allocation, and cost of goods sold, progressing to advanced management accounting concepts. Topics include budgeting, variance analysis, cost-volume-profit analysis, and contemporary tools such as lean accounting and strategic cost management. By integrating theory with practical applications, this course prepares learners to address complex financial scenarios and contribute to organizational success.
Course Details
Instructor
Course Catagory
Accounting Courses
Duration
48 Hours
Type
Self Guided
Course Plan
Course Objectives
1. To provide a comprehensive understanding of costing methods and their applications in managerial decision-making.
2. To equip learners with analytical tools to assess and interpret financial data for planning and control.
3. To explore the role of management accounting in budgeting, variance analysis, and performance measurement.
4. To introduce contemporary management accounting techniques to address strategic challenges.
5. To enhance critical thinking and problem-solving skills in financial and managerial contexts.
Program Learning Outcomes (PLO)
Upon successful completion of the Accounting Teacher program, graduates will be able to:
1. Understand Core Accounting and Finance Principles
Develop a comprehensive understanding of foundational and advanced principles in accounting and finance, enabling effective analysis and resolution of diverse financial and managerial challenges.
2. Apply Analytical and Quantitative Skills
Enhance the ability to employ analytical tools and quantitative techniques for problem-solving, decision-making, and performance evaluation across various accounting and finance contexts.
3. Integrate Ethical and Professional Standards
Promote the application of ethical principles, professional standards, and accountability in all accounting and finance practices, fostering trust and responsibility in organizational and societal contexts.
4. Foster Lifelong Learning and Adaptability
Cultivate a commitment to lifelong learning by encouraging curiosity, self-reflection, and the ability to adapt to evolving accounting standards, financial regulations, and technological advancements in the field.
5. Communicate Financial and Managerial Information Effectively
Develop the skills to prepare, interpret, and effectively communicate financial and managerial information to diverse stakeholders, supporting informed decision-making in dynamic business environments.
Course Learning Outcomes (CLO)
After successfully completing this course, the students will be able to:
CLO #1: Demonstrate proficiency in various costing methods, including material, labor, and overhead costing, and apply them to determine cost of goods sold.
CLO #2: Analyze financial data using cost-volume-profit analysis and budgeting techniques to support managerial decisions.
CLO #3: Evaluate organizational performance through variance analysis and advanced performance measurement tools.
CLO #4: Apply strategic cost management and lean accounting techniques to improve organizational efficiency.
CLO #5: Develop and present comprehensive solutions to complex financial scenarios, integrating both theoretical and practical knowledge.
Course Schedule
| Lesson 1: Management Accounting Orientation |
| Leson 2: Basics of Cost Accounting |
| Lesson 3: Cost of Goods Sold |
| Lesson 4: Inventory Valuation and Costing |
| Lesson 5: Material Costing |
| Lesson 6: Labor Costing and Labor Variances |
| Lesson 7: Overhead Costing and Allocation |
| Lesson 8: Marginal and Absorption Costing |
| Lesson 9: Job Order Costing |
| Lesson 10. Process Costing |
| Lesson 11: Activity-Based Costing |
| Lesson 12: Joint Product and By-Product Costing |
| Lesson 13: Service Costing |
| Lesson 14: Cost-Volume-Profit Analysis |
| Lesson 15: Budgeting Basics |
| Lesson 16: Functional Budgets |
| Lesson 17: Master Budgets |
| Lesson 18: Proforma Financial Statements |
| Lesson 19: Variance Analysis: Material, Labor, Overhead |
| Lesson 20: Variance Analysis: Sales and Profit |
| Lesson 21: Performance Measurement Techniques |
| Lesson 22: Balanced Scorecard |
| Lesson 23: Responsibility Accounting |
| Lesson 24: Relevant Cost Analysis |
| Lesson 25: Short-Term Decision-Making |
| Lesson 26: Pricing Decisions |
| Lesson 27: Integrating Cost and Management Accounting |
| Lesson 28: Review and Discussion |
Recommended Books
Drury, C. (2021). Management and cost accounting (11th ed.). Cengage Learning.
Garrison, R. H., Noreen, E. W., & Brewer, P. C. (2021). Managerial accounting (17th ed.). McGraw-Hill Education.
Horngren, C. T., Datar, S. M., & Rajan, M. V. (2021). Cost accounting: A managerial emphasis (17th ed.). Pearson Education.
Kaplan, R. S., & Atkinson, A. A. (2015). Advanced management accounting (3rd ed.). Pearson Education.
Langfield-Smith, K., Thorne, H., & Hilton, R. W. (2018). Management accounting: Information for creating and managing value (8th ed.). McGraw-Hill Education.
Zimmerman, J. L. (2020). Accounting for decision making and control (10th ed.). McGraw-Hill Education.
Pre-requisite
The Management Accounting course begins with fundamental costing concepts before progressing to advanced management accounting techniques. Therefore, no prior accounting knowledge is required for enrollment. However, familiarity with basic financial accounting concepts can significantly enhance understanding and application of management accounting principles.
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