Cost Accounting Introduction to Management Accounting

Learn Cost Accounting for Management. Includes Process Costing, ABC Systems, Variance Analysis, Cash Budgets and more.
Cost Accounting Introduction to Management Accounting
File Size :
4.70 GB
Total length :
7h 18m

Category

Instructor

David Burrell, BComm

Language

Last update

11/2021

Ratings

4.5/5

Cost Accounting Introduction to Management Accounting

What you’ll learn

Understand Cost Behaviors, Cost Drivers and Cost Driver Activity
Define Fixed and Variable Costs and Create Cost Functions
Use Regression Analysis using the Least Squares Method
Apply Activity Based Costing to Product Costs
Allocate Support Department Costs using the Direct, Step-Down and Reciprocal Method
Apply Cost-Volume-Profit Analysis (Break-Even Points)
Describe variance analysis, differentiate between price and usage variances, and calculate price and usage variances for costs
Prepare Cash Budgets
Prepare Production Reports for a Process Costing System

Cost Accounting Introduction to Management Accounting

Requirements

English
Basic Algebra
Arithmetic

Description

Welcome to the Management Accounting Crash Course, which will provide you with 46 video lessons that span over 7 hours of content (including quizzes to help test your knowledge). Follow along as I explain the basics and fundamental concepts like cost drivers, the cost function, break-even points, journal entries, joint costing, budgets and more! Managerial Accounting is the study of internal financial information that can influence decision-making. It’s the follow up course to Financial Accounting, that can prove to be more difficult for students. We designed the course to act as a perfect supplement for those taking Managerial/Management Accounting in University or College. We’ll walk you through the theory, providing examples and questions that will keep you engaged.The first part of the course will cover:Cost Measurement and Cost BehaviorThe Design of Cost FunctionsFixed Costs, Variable Costs and Mixed CostsBreak-Even AnalysisHandling Direct and Indirect CostsThe second part will cover:Process Costing, and Production Reports using Weighted Average and FIFO.Activity-Based Costing for Overhead CostsPreparing Cash BudgetsVariance AnalysisSupport Departments: Direct, Step-Down and Reciprocal MethodAnd much more!HERE’S WHAT SOME STUDENTS OF HAVE TOLD ME ABOUT MY COURSE:”I fully attribute me passing the BEC portion of the CPA exam from your videos. Without your easy to learn managerial accounting tutorials, I would never have understood the concepts. I especially thought your videos on variance analysis were exceptional. Thank you so much for everything!”  – Spencer S.”Hi, I just wanted to say thank you for posting such great videos on YouTube. I believe that they were the reason I just passed my very difficult accounting exam! They were very easy to watch and easy to follow. I appreciate your work!”  – Alana M.”This guy has the best Mgmt Accounting tutorial videos. He understands the concepts and can explain them in the easiest and most engaging way. Thank you.” – Karen K.”Great Course for being introduced to Fundamentals of Management Accounting. Dave does a good job at explaining concepts filled in with examples.” – Imran S.

Overview

Section 1: Managerial Accounting Introduction

Lecture 1 What is Managerial Accounting

Lecture 2 Managerial (Cost) Accounting Glossary

Section 2: Types of Costs, Cost Drivers and The Relevant Range

Lecture 3 Cost Drivers

Lecture 4 Fixed and Variable Costs

Lecture 5 Variable vs Fixed Costs

Lecture 6 The Relevant Range

Lecture 7 Mixed Costs

Section 3: The Cost Function Series

Lecture 8 The Cost Function

Lecture 9 Slope and The Cost Function

Lecture 10 The High-Low Activity Method

Lecture 11 Regression Analysis: Least Squares Regression Method

Lecture 12 Interpreting Regression Output for the Cost Function

Section 4: Break-Even Points (Cost-Volume Profit Analysis)

Lecture 13 Break-Even Points and Cost-Volume-Profit Analysis

Lecture 14 Solve Break Even Points Using Algebra

Lecture 15 The Contribution Margin and Break Even Points

Lecture 16 The Contribution Margin vs. The Gross Margin

Lecture 17 What is the Margin of Safety?

Lecture 18 Calculate the Break Even Point for a Sales Mix

Lecture 19 How Profit and Tax Affects Break-Even Points

Lecture 20 What is Financial Leverage or Leveraging

Lecture 21 Operating Leverage and Profit

Lecture 22 The Degree of Operating Leverage

Section 5: Job-Costing and Direct vs Indirect Costs

Lecture 23 Direct vs Indirect Costs: Example using Portal Guns!

Lecture 24 Manufacturing Costs and Product and Period Costs

Lecture 25 Raw Materials, Work in Process, and Finished Goods Inventory

Lecture 26 Prepare a Cost of Goods Manufactured Statement

Lecture 27 Journal Entries for Job-Order Costing

Lecture 28 Predetermined Overhead Rate and Overhead Applied

Lecture 29 Prorating and Writing Off Under/Over Applied Overhead

Section 6: Process Costing

Lecture 30 Job Order Costing vs Process Costing

Lecture 31 Overview of a Production Report for Process Costing

Lecture 32 Production Report for Weighted Average Method in Excel

Lecture 33 Production Report using the FIFO Method in Excel

Section 7: Activity-Based Costing Systems

Lecture 34 Activity Based Costing Systems

Lecture 35 Activity Based Costing Quiz Explanations

Section 8: The Absorption and Contribution Approach

Lecture 36 The Absorption and Contribution Approach for Income Statements

Lecture 37 Absorption vs Contribution Approach Part 2

Section 9: Support Costs and Joint Cost Allocation

Lecture 38 What are Support Departments?

Lecture 39 Support Cost Allocation Using the Direct Method

Lecture 40 Support Cost Allocation using the Step Down Method

Lecture 41 Support Cost Allocation Using the Reciprocal Method

Lecture 42 Joint Cost Allocation using the Physical Units Method

Lecture 43 Joint Cost Allocation using the Relative Sales Value Method

Lecture 44 Joint Costs Allocation using the Net Realizable Value Method

Section 10: Master Budgets and Cash Budgets

Lecture 45 The Master Budget

Lecture 46 The Cash Budget Part 1: Sales and Collections Budget

Lecture 47 The Cash Budget Part 2: Inventory Purchases Budget

Lecture 48 The Cash Budget Part 3: Operating Expenses Budget

Lecture 49 The Cash Budget Part 4: Financing Shortfalls and Interest

Section 11: Variance Analysis

Lecture 50 Variance Analysis: Master (Static), Flexible and Actual Budgets

Lecture 51 Variance Analysis: Calculate Price and Usage Variances

Lecture 52 Variance Analysis: Actual Price and Standard Quantities

University Students,College Students,CPA Students,MBA Students,Bookkeepers,Accountants,Managers

Course Information:

Udemy | English | 7h 18m | 4.70 GB
Created by: David Burrell, BComm

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