Managerial and Cost Accounting - Kenyatta University

Managerial and Cost Accounting

Larry M. Walther Christopher J. Skousen

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Managerial and Cost Account ing ? 2009 Larry M. Walt her, under nonexclusive license t o Christ opher J. Skousen & Vent us Publishing ApS. All m at erial in t his publicat ion is copyright ed, and t he exclusive propert y of Larry M. Walt her or his licensors ( all right s reserved) . I SBN 978- 87- 7681- 491- 5

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Managerial and Cost Accounting

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Part 1. Introduction to Managerial Accounting

1. Managerial Accounting 1.1 Professional Certifications in Management Accounting

2. 2.1 2.2 2.3 2.4 2.5 2.6 2.6.1 2.6.2 2.6.3 2.7 2.7.1 2.7.2

Planning, Directing, and Controlling Decision Making Planning Strategy Positioning Budgets Directing Costing Production Analysis Controlling Monitor Scorecard

3. Cost Components

4. Product Versus Period Costs 4.1 Period Costs

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Managerial and Cost Accounting

5. Financial Statement Issues that are Unique to Manufacturers 5.1 Schedule of Raw Materials 5.2 Schedule of Work in Process 5.3 Schedule of Cost of Goods Manufactured 5.4 Schedule of Cost of Goods Sold 5.5 The Income Statement 5.6 Reviewing Cost of Flow Concepts for a Manufacturer 5.7 Critical Thinking About Cost Flow

Part 2. Cost-Volume-Profit and Business Scalability

6. Cost Behavior 6.1 The Nature of Costs 6.2 Variable Costs 6.3 Fixed Costs 6.4 Business Implications of the Fixed Cost Structure 6.5 Economies of Scale 6.6 Dialing in Your Business Model

7. Cost Behavior Analysis 7.1 Mixed Costs 7.2 High-Low Method 7.3 Method of Least Squares 7.4 Recap

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Managerial and Cost Accounting

8. Break-Even and Target Income 8.1 Contribution Margin 8.2 Contribution Margin: Aggregated, per Unit, or Ratio? 8.3 Graphic Presentation 8.4 Break-Even Calculations 8.5 Target Income Calculations 8.6 Critical Thinking About CVP

9. Sensitivity Analysis 9.1 Changing Fixed Costs 9.2 Changing Variable Costs 9.3 Blended Cost Shifts 9.4 Per Unit Revenue Shifts 9.5 Margin Beware 9.6 Margin Mathematics

10. CVP for Multiple Products 10.1 Multiple Products, Selling Costs, and Margin Management

11. Assumptions of CVP

Part 3. Job Costing and Modern Cost Management Systems

12. Basic Job Costing Concepts 12.1 Cost Data Determination 12.2 Conceptualizing Job Costing 12.3 Tracking Direct Labor 12.4 Tracking Direct Materials

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