What you'll learn
The difference between financial and managerial accounting
The difference between costs and expenses
The various classifications of costs
Cost behavior and the determination of variable versus fixed costs
How to estimate costs at expected future levels
How to decide between making or buying parts (outsourcing)
Cost-Volume-Profit Analysis
Porter's Five Forces
The difference between Marginal and Average Costs
Activity Based Costing
How to determine the break even point
How to perform differential cost analysis
The difference between Absorption vs Variable Costing
The difference between Job Order and Process Costing
The Difference Between Product and Period Costs
How to Decide Between Selling or Processing Further
How to Decide Whether To Accept a Special Order
Requirements
The only requirement for this course is a desire to learn more about accounting. No specific software or textbooks are required.
Description
Accounting often referred to as the "language of business." Whether you are going into management or actually going to be an accountant, you need to be familiar with the basics of accounting. This includes understanding the concepts of debits and credits, assets and liabilities, revenues and expenses, dividends and equity. From an investor's perspective, the business results are communicated through the financial statements, including the income statement, statement of owner's equity, balance sheet and statement of cash flow. These are all discussed in this course!
This course is for those students who have not had much (or any) experience in accounting and are looking to enhance their understanding of it, to either help pass a course or to enhance your business career. It is for anyone who may have felt lost in prior accounting courses and wants real life examples and a down to earth explanation, rather than something read word for word out of a textbook. Is this you? Then you are in the right place!
This course is taught by an instructor with over eleven years of training experience, including corporate training, face to face instruction, and online course development. In addition to the lectures and study material common to many other courses, this course also has a downloadable textbook/study note file, along with downloadable Excel templates paired with a lecture walking through the solution once you are done. To test your knowledge of the basic concepts we also have quizzes after each section to make sure you feel comfortable with the topic before moving on to the next one.
At the end of this course, you will have a better understanding of the mechanics of accounting, the concepts, and the goals of accounting in general. You will be able to pass that class!! Let's get started!
Overview
Section 1: Introduction
Lecture 1 Video - Introduction
Section 2: Managerial Accounting Concepts
Lecture 2 Study Notes - Comparison of Managerial and Financial
Lecture 3 Video - Managerial vs Financial
Lecture 4 Study Notes - Understanding Missions, Goals, and Strategic Analysis
Lecture 5 Video - Missions, Goals, and Strategies
Lecture 6 Study Notes - Porter's Five Forces, Competition and Quality
Lecture 7 Video - Porter's Five Forces
Lecture 8 Study Notes - Ethics
Lecture 9 Video - Ethics
Section 3: Understanding Cost
Lecture 10 Study Notes - Cost Terms and Classifications
Lecture 11 Video - Cost Terms and Classification
Lecture 12 Study Notes - Cost Estimation-High Low Method, Scattergraph, Regression Analysis
Lecture 13 Video - High Low Method
Lecture 14 Downloadable Exercise Template - High Low Method
Lecture 15 Practice Exercise - Activity Based Costing
Section 4: Cost-Volume-Profit Analysis
Lecture 16 Study Notes - Cost Volume Profit (CVP) Analysis
Lecture 17 Video - Cost-Volume-Profit Analysis
Lecture 18 Video - CVP - Traditional vs. Variable Income Statement
Lecture 19 Study Notes - Relevant Costs
Lecture 20 Solution Review Video - CVP Exercises
Section 5: Managerial Decision Making
Lecture 21 Study Notes - Special Orders
Lecture 22 Video - Special Orders
Lecture 23 Study Notes - Make or Buy (Outsourcing)
Lecture 24 Video - Outsourcing or Make or Buy
Lecture 25 Solution Review Video - Make or Buy Exercise
Lecture 26 Study Notes - Sell or Process Further
Lecture 27 Video - Sell or Process Further
Lecture 28 Solution Review Video - Sell or Process Further Exercise
Lecture 29 Study Notes - Scarce or Limited Resources Special Decisions
Lecture 30 Video - Scarce Resources
Lecture 31 Solution Review Video - Scarce or Limited Resources Exercise
Section 6: Job Order vs. Process Costing
Lecture 32 Study Notes - Product vs. Period Costs
Lecture 33 Video - Product vs. Period Costs
Lecture 34 Study Notes - Absorption vs. Variables Costing
Lecture 35 Video - Absorption vs. Variable Costing
Lecture 36 Study Notes - Cost of Goods Manufactured and Cost of Goods Sold
Lecture 37 Solution Review Video - Cost of Goods Manufactured Schedule
Section 7: Downloadable Textbook/Study Notes for the Entire Course
Lecture 38 Downloadable Textbook/Study Notes for the Entire Course
This accounting course is for anyone who wants to learn more about accounting. This course starts at the ground level, with no assumption that you have any prior experience. If you are taking an accounting course and are having trouble understanding the topics this course is for you. If you are looking to enhance your career by understanding more about accounting, this course is for you. This course does not get into the more advanced accounting topics, though I do have other courses for this.


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