In this introductory course we explore fixed, variable, and mixed costs and how to use our understanding of these costs to better understand the relationships between cost, volume, and profit.
Course Key Concepts: Introductory managerial accounting, Cost Volume Profit, Fixed cost, Variable cost, Mixed cost, Break-even, Target profit, Contribution margin, Projecting costs, High-low method, Scattergraph/Regression, Margin of safety, Operating leverage.
NOTE: A downloadable file ‘Chapter 3.epub’ is available for this course. To access that file, please click here to download the file and use the appropriate player like (apple books or adobe digital editions) to run the file correctly.
Other Modules of Introductory Managerial Accounting by Erik Slayter.
1. Introductory Managerial Accounting - Classifying Costs
2. Introductory Managerial Accounting - Job Costing
3. Introductory Managerial Accounting - Cost, Volume-Profit Analysis
4. Introductory Managerial Accounting - Budgeting
5. Introductory Managerial Accounting - Variance Analysis
6. Introductory Managerial Accounting - Capital Budgeting
Learning Objectives
- Identify classify costs by behavior.
- Discover and calculate measures important to a business with regards to cost/volume/profit.
- Explore and evaluate changes in inputs and their effect on outputs.
- 1. Designing and Performing Sampling Plans – An Auditor’s Perspective on Monitoring Internal Controls, Compliance, and the Reasonableness of Account Balances
- 2. Auditing Logical Security and Logical Access Controls
- 3. Auditing Revenue Recognition - Grasping the Higher Risks and Special Audit Considerations
- 4. Overview of Lease Accounting Changes to FAS 13, IAS 16 and IAS 17
- 5. Introduction to Statement of Cash Flows
- 6. Sarbanes-Oxley Update - 20 Years Later: Discussion with Lynn Fountain
- 7. The Controllership Series: The Controllers Role in Financial Forecasting
- 8. SEC Climate-Related Disclosures – Deep Dive (Text Based Course)
- 9. Uniform Guidance Update
- 10. Accounting Review: The Basics of Debits and Credits
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Prerequisites
Basic understanding of financial statements (Introductory Financial Accounting) and the Introductory Managerial Accounting - Job Costing course.