Managerial Accounting

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Managerial Accounting by Mind Map: Managerial Accounting

1. Course Coverage

1.1. 1. Fundamentals and Cost-Accumulation Systems

1.1.1. 1. Changing Role of Managerial Accounting in a Dynamic Environment

1.1.2. 2. Cost Management Concepts and Accounting for Mass Customization Operations

1.1.3. 3. Product Costing, Cost Accumulation in a Batch Production Environment

1.1.4. 4. Process Costing & Hybrid Costing Systems

1.2. 2. Cost Management Systems, Activity-Based Costing, and Activity-Based Management

1.2.1. 1. Activity Based Costing

1.2.2. 2. Activity-Based Management and Cost Management Tools

1.3. 3. Planning, Control, and Cost Management Systems

1.3.1. 1. Activity Analysis, Cost Behavior, and Cost Estimation

1.3.2. 2. Cost-Volume-Profit Analysis

1.3.3. 3. Profit Planning, Activity-Based Budgeting, and e-Budgeting

1.3.4. 4. Standard Costing, Operational Performance Measures, and the Balanced Scorecard

1.3.5. 5. Flexible Budgeting and the Management of Overhead and Support Activity Cost

1.3.6. 6. Responsibility Accounting, Quality Control, and Environmental Cost Management

1.3.7. 7. Investment Centers and Transfer Pricing

1.4. 4. Using Accounting Information in Decision Making

1.4.1. 1. Decision Making: Relevant Costs and Benefits

1.4.2. 2. Target Costing and Cost Analysis for Pricing Decisions

1.4.3. 3. Capital Expenditure Decisions

1.5. 5. Selected Topics for Further Study

1.5.1. 1. Absorption, Variable, and Throughput Costing

1.5.2. 2. Allocation of Support Activity Costs and Joint Costs

2. Course Assessment

2.1. Class participation 10%

2.1.1. Contextual: Willingness to participate and attentive to discussion

2.1.2. Innovative: There is willingness to test new ideas and comments are not confrontational.

2.1.3. Insightful: Comments are appropriate and indicates insightful analysis of case data

2.1.4. Relevant: Comments are relevant to current discussion and linked to comments of others

2.1.5. Supported: Comments clarify important aspects of earlier ideas and lead to clearer statement of relevant concepts and issues

2.2. Research Assignments 60%

2.2.1. Slides Presentation Presentation is professionally done Not more than 30 slides (20 minutes) Prescribed presentation standards

2.2.2. Written Report Prescribed report format Report is consistent and effectively sells its recommendations Report is not long, 2000 words max Exhibits Analyses in the exhibits are done correctly Exhibits support and clarify key points 3 to 7 exhibits

2.3. Assignments 30%

2.3.1. Case Analysis Quality analysis Major issues are addressed Relevant tools are used properly Assumptions for analysis are stated clearly Causes of the problems are identified in the analysis Recommendations Criteria for selecting alternative recommendations are given Criteria are appropriate Plan of action is logical linked to the analysis Plan of action is specific, complete and practical Recommendations are likely to achieve intended results Prescribed format

2.3.2. Essays

3. Introductory Concepts

3.1. Background

3.1.1. Information & incentives

3.1.2. Behavioral issues

3.1.3. Costs & benefits

3.1.4. Evolution of MA Computer-integrated manufacturing Customer focus Emergence of new industries Global competition Multinational company Time-based competition Growth of the service sector Product life cycles and diversity

3.1.5. Theory of constraints

3.2. Vis-a-vis Financial accounting

3.2.1. Focus

3.2.2. Users

3.3. Objectives

3.3.1. Assess organization's competitive position

3.3.2. Assists in directing and controlling

3.3.3. Measure performance

3.3.4. Motivate managers and employees

3.3.5. Provide information for decision making and planning

3.4. Major themes

3.4.1. Activity accounting

3.4.2. Continuous improvement

3.4.3. Cost management systems

3.4.4. Cross-functional teams Work together Hold team together

3.4.5. Information and communication technology Global technologies Personal computers Software packages

3.4.6. Just-in-time inventory management (JIT) Reduction in inventory costs Pull approach

3.4.7. Strategic cost management Competitive advantage Cost drivers

3.4.8. Total quality management (TQM)

3.4.9. Value chain

3.5. Organizational roles

3.5.1. Applicable organizations

3.5.2. Basic function

3.5.3. Functional roles Line position Staff position

3.5.4. Its processes

3.5.5. Management activities Decision making Planning Directing operations Controlling

3.5.6. Optional

4. Learning Tasks

4.1. Oral & written reports

4.1.1. Substance & relevance of written report

4.1.2. Effectiveness of oral presentation

4.1.3. Compliance to prescribed standards

4.2. Active participation in group discussions

4.3. Synthesis of the course as experienced

5. Resources

5.1. Managerial Accounting by R.W. Hilton 11th edition