Analyzing Cost Data for Management covers the managerial use of accounting, financial, and operating data for planning, control, and decision making. The course is designed for managers and entrepreneurs who need hand-on knowledge and tools in processing, developing, and analyzing financial, cost, and business data for managerial use. Topics include strategic cost management, analysis of costs; break-even and contribution analysis; cost behavior analysis; activity-based costing (ABC); responsibility accounting and corporate balanced scorecard (CBS); budget for profit planning; short-term decisions; capital budgeting.
Course Publication Date: February 27, 2017
This course is available with NO ADDITIONAL FEE
if you have an active self study membership
or can be purchased for $90.00
|Delivery Method:||Self Study
|Level of Knowledge:||Basic
|Recommended Field of Study:||Accounting
- Recognize the concerns of management accounting.
- Recognize the function of management in planning, controlling and decision making, and the role of the financial management.
- Identify the some popular certificates that recognize the expertise in the fields of cost/managerial accounting and internal auditing.
- Identify examples of each of the basic cost elements involved in the manufacture of the product.
- Recognize various cost concepts, and differentiate between the traditional income statement and the contribution income statement.
- Recognize different approaches to costing such as job order costing and the objectives of a cost accounting system.
- Identify the benefits and disadvantages of different costing approaches.
- Recognize cost components used for activity-based costing (ABC).
- Recognize attributes tracked to in a value chain analysis.
- Recognize various contribution margin concepts.
- Identify several factors used to compute a cost-volume-profit analysis.
- Calculate break-even points and recognize ways to the reduce break-even point.
- Recognize the advantages and disadvantages of the classifying cost behaviors and types.
- Recognize methods for estimating the cost-volume formula.
- Recognize major steps in the preparation of a budget.
- Recognize how a financial modeling approach may be used in the planning process.
- Distinguish among three types of responsibility centers.
- Identify different types of variances for manufacturing costs and the managerial significance of these variances.
- Identify the different variance analysis techniques for factory overhead.
- Identify the primary differences between centralized and decentralized in performance evaluation.
- Recognize how ROI, RI (residual income), and EVA (economic value added) measurements affect the division's investment decision.
- Recognize the basic features of the Corporate Balanced Scorecard.
- Identify the costs that are relevant for a particular decision.
- Recognize several concepts involved with the time value of money.
- Identify the types and special features of several capital budgeting techniques.
- Calculate internal rate of return.
- Recognize how income tax factors affect investment decisions.