Accounting for Management: Concepts and Tools
A primer on the basic theoretical concepts and the practical procedures of financial record keeping and reporting, and the use of financial and cost data in managerial decision making. It provides an understanding and working knowledge of the fundamentals of financial and managerial accounting that can be put to practical application in day-to-day jobs of managers. It also concentrates on providing a working vocabulary for communication. Topics include accounting principles and reporting trends, accounting conventions and systems, interpretation and analysis of financial statements; cast flow statement; break-even analysis; activity-based costing (ABC); responsibility accounting; budget for profit planning; short-term and long-term investment decision making. A list of computer software for accounting, ABC, and budgeting is presented.

Course Publication Date: February 08, 2017

This course is available with NO ADDITIONAL FEE if you have an active self study membership or can be purchased for $80.00!

Author:Delta CPE
Course No:ACT-MANAGEMENT-4756
Recommended CPE:7.50
Delivery Method:QAS Self Study
Level of Knowledge:Basic
Prerequisites:None
Advanced Preparation:None
Recommended Field of Study:Accounting
  
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Learning Objectives
  • Recognize the primary statements used and the key areas of accounting.
  • Recognize major accounting rule-making organizations.
  • Identify the global focus in financial reporting.
  • Identify the basic accounting principles.
  • Identify the different types of business entities.
  • Recognize the primary purpose and use of different accounting financial statements.
  • Identify the format of the income statement.
  • Recognize the double entry system and the accounting equation.
  • Recognize the system of debits and credits.
  • Identify different depreciation methods and calculate depreciation rates.
  • Recognize the benefits of financial statement analysis, and how key ratios are applied.
  • Distinguish among trend analysis, vertical analysis, and horizontal analysis.
  • Recognize various ratios used in financial analysis.
  • Recognize the benefits of and applications of management accounting and different management systems.
  • Identify how to classify different costs in management accounting.
  • Recognize basic assumptions and uses of different cost systems.
  • Identify the benefits of developing a cost-volume profit analysis.
  • Compute the sales necessary to break even or to achieve a target income.
  • Perform a variety of "what-if" analyses using the contribution approach.
  • Identify the different budgets used in an organization and their purpose.
  • Recognize characteristics of a standard costing system and different cost variances.
  • Identify uses and attributes of a contribution margin approach.
  • Recognize and compute return on investment (ROI) by means of the Du Pont formula.
  • Identify how ROI and Residual Income (RI) measures affect the division's investment decision.
  • Identify the costs that are relevant for different financial decisions.
  • Recognize factors used in making a short-term profit maximization decision.
  • Identify different attributes and ratios used in capital budgeting decisions.
  • Calculate payback period for capital expenditures.

CPE Depot Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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