Managerial accounting is a form of accounting that deals not only with financial information, but information that is not always easy to quantify into numbers and reports. Things like employee performance, efficiency, product rates and customer satisfaction stats are all things that managerial accountants deal with. They take that information and put it into reports that are easy for managers to understand. By doing this, managerial accountants help managers make the important decisions to turn the company in a new direction, or help it continue on as a profitable and respected organization.
Financial accounting looks at the company as a whole. The net profit of the company, the revenue and expenses of the company and more. It does not look at the parts that make up the whole. This is what managerial accounting does. It takes the company and breaks it into parts that can be studied and analyzed. Maybe one department is bringing down the rest like a lead weight attached to a strong chain. If this is happening, the methods of managerial accounting will find it and that will help managers take the information and use it to make the company better and more efficient as a result.
Managerial accounting is not new, but it is revolutionary and despite originating over 100 years ago, companies are only now realizing the true power of this amazing form of company management.
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- Define managerial accounting.
- Describe managerial accounting in the organization.
- Describe the specific duties of managerial accountants.
- Describe traditional managerial accounting.
- Describe policies and company components that affect managerial accounting.
- Define activity based costing.
- Summarize a balanced scorecard for a company's accounting practice.
- Demonstrate mastery of lesson content at levels of 70% or higher.
|An Introduction||1 points|
|Lesson 1 Assignment||25 points|
|Lesson One: What Is Managerial Accounting?||9 points|
|Lesson 2 Assignment||25 points|
|Lesson Two: Managerial Accounting in the Organization||9 points|
|Lesson 3 Assignment||25 points|
|Lesson Three: Specifics of Managerial Accountants||9 points|
|Lesson 4 Assignment||25 points|
|Lesson Four: Traditional Managerial Accounting||10 points|
|Lesson 5 Assignment||25 points|
|Lesson Five: Looking at Policies and Company Components||8 points|
|Lesson 6 Assignment||25 points|
|Lesson Six: Activity Based Costing||8 points|
|Lesson 7 Assignment||25 points|
|Lesson Seven: Balanced Scorecard||10 points|
|The Final Exam||33 points|