Assignment Instructions/ Description
Module 01: The Role of Management Accounting Module 01: The Role of Management Accounting In Module 1, the focus will be on management (managerial) accounting concepts and reporting. Both management and financial accounting assists decision-makers by identifying, measuring, and processing relevant information and communicating this information through reports. Management accounting, however, provides managers and employees with the information they need to achieve their goals. We will examine the differences between management and financial accounting, and learn the vocabulary associated with management accounting. In addition, this module covers cost concepts and includes an overview of management accounting systems that are presented in more detail in subsequent modules. Content Folder Module 02: Job Order Costing Module 02: Job Order Costing In this module, you are introduced to the two primary costing systems that organizations use to trace and allocate costs to various jobs and departments. Choosing the proper costing system is a top management decision that can have a significant financial impact on any company. Costing systems offer a granular view of how much money is being spent by an organization as it produces goods and services. Content Folder Module 03: Process Costing Module 03: Process Costing In Module 3, we address the process costing system, which is one of two primary costing systems used by the manufacturing industries. We will compare the differences between job order and process costing and discuss the accumulation and flow of costs in job order costing. Content Folder Module 04: Cost Behavior and Activity-Based Costing Module 04: Cost Behavior and Activity-Based Costing In previous weeks, we briefly discussed activity-based costing (ABC) as an alternative to the traditional overhead application method. In this module, we will discuss ABC in more detail. Content Folder Module 05: Support Department and Joint Cost Allocation Module 05: Support Department and Joint Cost Allocation All firms have support or service departments to support production activities. As addressed in earlier modules, those costs must be allocated to product costs. Sometimes a single manufacturing process produces an output that can then be further manufactured into several other products. The costs of the initial manufacturing process must be allocated to the subsequent products. Content Folder Module 06: Cost-Volume-Profit (CVP) Analysis Module 06: Cost-Volume-Profit (CVP) Analysis A large part of management accounting is attempting to predict future costs and profits. In this module, we will address cost behavior and how it is important in predicting future costs. We will also learn to perform break-even calculations using cost-volume-profit (CVP) analysis.
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