18 Credits: Accounting
Managers are constantly confronted with situations in which they need to make decisions based on information originating in the accounting department. In Accounting for Managers, we explore the accounting information available to managers, and how the information can be employed to improve operational and financial results. Topics covered include the creation and use of financial statements, responsibility centers, relevant accounting standards, decision making issues in specific functional areas, and a variety of analysis tools.
Upon successful completion of this course, participants will be able to:
- Cite the types of accounting transactions and where they are recorded, as well as the roles of the controller and chief financial officer.
- Specify the different accounting principles and sub-ledger types, as well as the structure of the general ledger, and the reasons for the accounting cycle.
- Identify the types of financial statements and their reporting formats, as well as their users.
- State the types of ratio analysis used to interpret the financial statements, the uses of each one, and their contents.
- Specify the uses to which different account code structures can be put, and the different types of responsibility centers.
- Cite the proper accounting for loss contingencies, compensated absences, research and development, acquired software, and stock-based compensation.
- Specify how the contribution margin, breakeven levels, and margin of safety can be calculated and how they are used, as well as the determinants of demand.
- Identify the types of payroll systems, the uses of the different pay codes, the types of deposit schedules, the criteria for designating a person as an employee, and the penalties associated with payroll tax underpayment.
- State the nature of the analysis methods used to examine possible investments, as well as the advantages of each one.
- Specify the features of the various acquisition structures and the benefits to be gained from each one, as well as the nature of appraisal rights.
- Identify the limitations of direct cost analysis and the components of an activity-based costing analysis.
- Itemize the activities that can be pursued to achieve a target cost when designing a new product, as well as the sources of the required cost analysis information.
- State the main features of a system of constraint analysis, and how this system can be used to improve profits.
- Specify the methods used to derive estimates for a budget, the impact of operational changes on a budget, and how information rolls up through the various subsidiary-level budgets. Also note the calculation methods used to derive production and labor budgets.
- Identify the types of variances, the factors that can trigger different types of variances from the expected amounts, and also note the reports used to reveal variance information.
September 21, 2022
There are no prerequisites.
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 250 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …