MANAGEMENT ACCOUNTING
All you need to know about industry related accounting.
Accounting,Business,Finance,Finance & Accounting,Accounting & Bookkeeping
Lectures -28
Duration -2 hours
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Course Description
This management accounting course is prepared to help build a strong foundation for students, practitioners and business persons for a career in many industries. It is to provide full knowledge on how to estimate the cost of goods or services, by accurately capturing all expenses of relevant inputs.
It also covers how inventories are ordered, procured, received, stored and then transferred to units or departments in need of them for their activities. The course treats the accounting for labour, i.e. how to determine and calculate remuneration and motivation packages. It will also discuss labour ratios to analyse their output in relation to a target.
Indirect expenditures related to products manufactured will also be lectured on. Here we discuss the allocation of all expenses incurred and how they will be allocated over departments responsible for its build-up and then allocated over a unit of product manufactured in those departments. When there are multiple products produced, it will teach how the absorption should be implemented.
We also move to discuss how all the costs of inventory, labour and overheads come together against the price to lead to profit.
We will be considering two concepts in calculating this, both of which have different impacts on the cost of the product and profit.
Goals
What will you learn in this course:
How to ascertain the cost of products, produced or purchased
Learn how to maximize the profit of a business.
Estimating the remuneration for labour.
Learn about the type and behaviour of expenses.
Estimating and managing indirect expenses.
Prerequisites
What are the prerequisites for this course?
- No prerequisites.
Curriculum
Check out the detailed breakdown of what’s inside the course
Introduction to Management Accounting
2 Lectures
- Management Accounting. 09:39 09:39
- Concept of Management Accounting. 07:06 07:06
DATA AND INFORMATION.
2 Lectures
COST CLASSIFICATION.
2 Lectures
ACCOUNTING FOR INVENTORY
11 Lectures
ACCOUNTING FOR LABOUR
6 Lectures
ACCOUNTING FOR OVERHEADS
2 Lectures
PROFIT STATEMENT
3 Lectures
Instructor Details
Edmund Dwamena
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