1. | * Introduction to the course; and begin with chapter 1 from the textbook | Learn about the function of managerial accounting; how to take accounting information and make business decisions; costs, benefits, and value | ||
2. | * How to identify and estimate costs and benefits; chapter 2 from the textbook | Measuring benefits and costs; concept of controllability, relevance, incremental costs and benefits, variability and traceability, direct and indirect costs and benefits | ||
3. | * Cost flows and terminology; chapter 3 from the textbook | Identifying product and period costs; fixed and variable costs; inventory equation for a merchandising and manufacturing company | ||
4. | * How to allocate costs from chapter 3; introduction to the concept of contribution margin | Begin to convert income statement to contribution margin statement for decision-making purposes | ||
5. | * Contribution margin statements; chapter 4 | Identifying variable and fixed costs using various methods; | ||
6. | * Cost-Volume-Profit (CVP) Analysis; chapter 5 | Begin to use the profit equation to find breakeven revenues, breakeven volumes, target profits, and using CVP to choose between options | ||
7. | * CVP Analysis (continued from previous week) | Short-term decision making using CVP analysis | ||
8. | * Short-term Decision Making; chapter 6 from the textbook | Capacity decisions given fluctuating demand: making a supply decision; trying to macth supply with demand; allocating scarce resources such as manufacturing time | ||
9. | * Creating operatinal budgets; chapter 7 from the textbook | Step-by-step detailed budget creation; creating the revenue budget, production budget, cash budget | ||
10. | * Creating a cash budget; continue chapter 7 | Practice problems from chapter 7, which include creating a budget; developing a cash budgets by considering cash inflows and outflows | ||
11. | * Budgetary control and variance analysis; chapter 8 from the textbook | Comparing the budget to actual results and analyzing the variances; Creating the "flexible" budget to better understand why there are variances | ||
12. | * Costs allocations; chapter 9 from the textbook | Allocating fixed costs when making long-term decisions |