Accounting Foundations-Managerial Accounting – Jim Stice and Kay Stice

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Managerial accounting helps managers make decisions using an organization’s financial data. An understanding of managerial accounting helps you figure out how much a product costs, analyze when your company breaks even, and budget for expenses and future growth. In this course, accounting professors Jim and Kay Stice cover all the fundamentals, including costs and cost behaviors, cost-volume-profit (CVP) relationships, cost flows, standard costing and activity-based costing, and budgeting.

Topics include:

• Identify issues a business faces when it utilizes a strategy of vertical integration.
• Explore the various types of costs associated with managerial accounting.
• Determine certain costs in the context of fixed and variable costs.
• Explain the importance of understanding the way costs are accounted for in various industries.
• Describe the reasoning involved in variance analysis.
• Describe reasonable assumptions that can be made in activity-based costing.
• Distinguish factors in capital budgeting that are qualitative from factors that are quantitative.