Management Accounting Course OverView

Section 1

Introduction to the Management Accounting

Introduction to the fundamentals of the management accounting and what is covered as part of this course.


Section 2

Management Accounting and Stakeholders

Understand the management accountability to the stakeholders. Learn four different types of stockholder's obligations to various stakeholders (1) Operating Obligations (2) Investing Obligations (3) Finance Obligations (4) Obligations to the society.

Section 3

Types of Accounting

Accounting is a vast and dynamic profession and is constantly adapting itself to the specific and varying needs of its users. Over the past few decades, accountancy has branched out into different types of accounting to cater for the diversity of needs of its users. Learn different types of Accounting in this section.

Section 4

Introduction to Balance Sheet and Income Statement

Understand the accounting equation and its relationship with the balance sheet. Learn components of the Balance Sheet such as Assets, Liabilities and Owner's Equity. How Balance Sheet components are broken out and how does the Balance Sheet looks like? The Income Statement and its purpose. Components of the Income Statement and other major financial statements. Learn various other names of the Income Statement and how its components are grouped together.

Section 5

Income Statement of a Service Company

Understand Income statement of a service company and how does it differ from an Income Statement of a Merchandise and a Manufacturing company. How does a single and multi-step income statement looks like and what are advantages and disadvantages of a single vs multi-step Income Statement.

Section 6

Cost Classification: Product vs Period Cost

How to identify difference between a product vs period cost. What are the cost components and how to do cost allocation. Understand Cost of goods sold and how it's being calculated. How to do inventory valuation using various different methods such as FIFO, LIFO and Weighted Average.

Section 7

Income Statement of a Merchandise Company

What is a merchandise company and to understand, analyze and prepare an Income Statement of a Merchandise Company. How does an Income Statement of a Merchandise company differs from an Income Statement of a Service and Manufacturing company.

Section 8

Cost Components and an Income Statement of a Manufacturing Company

Learn the manufacturing cycle in detail and how it works. Understand the difference between various types of materials and their impact on Balance Sheet and Income Statement. Product cost and components in a manufacturing environment such as Direct Materials, Direct Labour and Manufacturing Overheads. Various different types of Income Statement of a Manufacturing Company for internal and external customers. How in a manufacturing environment cost flows through between Balance Sheet and Income Statement. How Cost of Goods Sold flows through in a manufacturing enviroment from Balance Sheet accounts to the Income Statement.

Section 9

Management Accounting & Excel

Role of Excel in Accounting. How knowledge of Excel can help you automate the process. Introduction to various types of reports in Excel and how Advance knowledge of Excel can help to you create amazing reports!

Section 10

Management Accounting & ERP (SAP)

Introduction to the ERP System (SAP). A SAP Overview to the Financial Accounting. Look and feel of the SAP. How to stand out from the crowd using SAP skills.

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