Principles of Managerial Accounting: From Basics to Business Decision Making
Master the fundamentals of managerial accounting and learn how to use accounting information to make informed business decisions. This comprehensive course covers cost behavior, budgeting, variance analysis, and performance measurement.
What You'll Learn
- Master fundamental managerial accounting concepts and terminology
- Learn to analyze cost behavior and make cost-volume-profit decisions
- Develop skills in preparing and analyzing budgets
- Understand performance measurement and variance analysis
- Apply managerial accounting concepts to real-world business scenarios
AI Mentor Inspiration
Warren Numbers
Inspired by Warren Buffett's analytical approach, Warren Numbers is an AI tutor specializing in managerial accounting and financial analysis.
Detailed Schedule
Week 1
Introduction to Managerial Accounting and Cost Concepts
Learn the fundamentals of managerial accounting and understand different types of costs.
- Topics:
- Managerial accounting basics
- Cost classification and behavior
- Live Session Duration: 90 minutes
- Homework Duration: 180 minutes
- Discussion Points:
- How does managerial accounting differ from financial accounting?
- What role do different cost classifications play in decision making?
- How can we identify and analyze cost behavior patterns?
- Reading Assignments:
- Chapters 1-2 in 'Principles of Managerial Accounting' by OpenStax
- Case Study: 'Cost Classification in Manufacturing Companies'
- Article: 'Understanding Cost Behavior Patterns'
- Video Assignments:
- Watch: 'Introduction to Managerial Accounting Concepts'
- Tutorial: 'Cost Classification Exercise Walkthrough'
Week 2
Cost-Volume-Profit Analysis and Decision Making
Master the relationship between costs, volume, and profit, and learn to make informed business decisions.
- Topics:
- Cost-Volume-Profit analysis
- Break-even analysis
- Live Session Duration: 90 minutes
- Homework Duration: 210 minutes
- Discussion Points:
- How does CVP analysis support business decision making?
- What are the limitations of break-even analysis?
- How can managers use CVP for pricing decisions?
- Reading Assignments:
- Chapters 3-4 in 'Principles of Managerial Accounting' by OpenStax
- Case Study: 'Break-even Analysis in Service Industries'
- Article: 'Advanced Applications of CVP Analysis'
- Video Assignments:
- Watch: 'CVP Analysis in Action'
- Tutorial: 'Solving Complex Break-even Problems'
Week 3
Budgeting and Performance Measurement
Develop skills in preparing comprehensive budgets and measuring organizational performance.
- Topics:
- Master and operating budgets
- Performance measurement
- Live Session Duration: 120 minutes
- Homework Duration: 240 minutes
- Discussion Points:
- What makes an effective budgeting process?
- How can performance measures be aligned with organizational goals?
- What are the challenges in implementing a budget?
- Reading Assignments:
- Chapters 5-6 in 'Principles of Managerial Accounting' by OpenStax
- Case Study: 'Budgeting in Non-Profit Organizations'
- Article: 'Modern Approaches to Performance Measurement'
- Video Assignments:
- Watch: 'Building a Master Budget'
- Tutorial: 'Performance Measurement Systems'
Week 4
Variance Analysis and Final Project
Learn to analyze variances and apply all concepts in a comprehensive final project.
- Topics:
- Variance analysis
- Final project
- Live Session Duration: 120 minutes
- Homework Duration: 300 minutes
- Discussion Points:
- How can variance analysis improve organizational performance?
- What are effective strategies for investigating variances?
- How do you present variance analysis to non-financial managers?
- Reading Assignments:
- Chapters 7-8 in 'Principles of Managerial Accounting' by OpenStax
- Case Study: 'Comprehensive Variance Analysis'
- Article: 'Advanced Variance Investigation Techniques'
- Video Assignments:
- Watch: 'Mastering Variance Analysis'
- Tutorial: 'Final Project Guidelines and Tips'
Student Experiences
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Learning with Cohorts and AI
Learn Better with Cohorts
Learning accounting principles in a group setting enables deeper understanding through shared perspectives and collaborative problem-solving.
AI-Powered Learning
Our AI tutor provides step-by-step guidance through complex calculations, instant feedback on practice problems, and personalized explanations of accounting concepts.
Frequently Asked Questions
What is the main focus of the course?
The course focuses on managerial accounting principles and their application in business decision-making processes.
What are the prerequisites?
Basic understanding of accounting principles and business concepts is recommended. Familiarity with spreadsheet software is helpful.
How is the course structured?
The course includes weekly live sessions, hands-on exercises, case studies, and a final project, supported by AI-assisted learning.
What kind of support is provided?
Students receive support through live instructor sessions, 24/7 AI tutor assistance, peer collaboration, and weekly office hours.
Is there a certificate upon completion?
Yes, students receive a certificate after successfully completing all course requirements and the final project.
Course Details
- 4 weeks
- Cohort-based learning
- Start anytime
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