1. |
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* Introduction to the course; and begin with chapter 1 from the textbook |
Learn about the function of managerial accounting; how to take accounting information and make business decisions; costs, benefits, and value |
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2. |
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* How to identify and estimate costs and benefits; chapter 2 from the textbook |
Measuring benefits and costs; concept of controllability, relevance, incremental costs and benefits, variability and traceability, direct and indirect costs and benefits |
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3. |
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* Cost flows and terminology; chapter 3 from the textbook |
Identifying product and period costs; fixed and variable costs; inventory equation for a merchandising and manufacturing company |
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4. |
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* How to allocate costs from chapter 3; introduction to the concept of contribution margin |
Begin to convert income statement to contribution margin statement for decision-making purposes |
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5. |
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* Contribution margin statements; chapter 4 |
Identifying variable and fixed costs using various methods; |
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6. |
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* Cost-Volume-Profit (CVP) Analysis; chapter 5 |
Begin to use the profit equation to find breakeven revenues, breakeven volumes, target profits, and using CVP to choose between options |
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7. |
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* CVP Analysis (continued from previous week) |
Short-term decision making using CVP analysis |
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8. |
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* Short-term Decision Making; chapter 6 from the textbook |
Capacity decisions given fluctuating demand: making a supply decision; trying to macth supply with demand; allocating scarce resources such as manufacturing time |
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9. |
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* Creating operatinal budgets; chapter 7 from the textbook |
Step-by-step detailed budget creation; creating the revenue budget, production budget, cash budget |
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10. |
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* Creating a cash budget; continue chapter 7 |
Practice problems from chapter 7, which include creating a budget; developing a cash budgets by considering cash inflows and outflows |
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11. |
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* Budgetary control and variance analysis; chapter 8 from the textbook |
Comparing the budget to actual results and analyzing the variances; Creating the "flexible" budget to better understand why there are variances |
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12. |
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* Costs allocations; chapter 9 from the textbook |
Allocating fixed costs when making long-term decisions |
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