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Accounting for Managers

In Accounting for Managers, students learn the basic accounting principles needed to effectively make business decisions as a manager. The course begins with a review of basic math and accounting principles, ensuring students are prepared for the material that follows. Students will learn how to make financial decisions, including decisions around budgeting, financial statements, and cost and profit analysis.

Accounting Business

Author: Lumen Learning
Publisher: LibreTexts
Source: LibreTexts
License: CC BY
Language: EN
Category: Accounting & Auditing

Read online Download PDF (open licence)

Contents· 286 sections

01: Whole Numbers Fractions Decimals Percents and Problem Solving
1.01: Introduction to Decimal Calculations
1.02: Place Value in Decimals
1.03: Adding and Subtracting Decimals
1.04: Multiplying and Dividing Decimals
1.05: Convert Between Decimals and Fractions
1.06: Introduction to Percent Calculations
1.07: Solving Problems Using Ratios
1.08: Writing Fractions and Decimals as Percents
1.09: Solving Problems Using Percents
1.10: Percent Increase and Decrease
1.11: Why It Matters- Whole Numbers Fractions Decimals Percents and Problem Solving
1.12: Putting It Together- Whole Numbers Fractions Decimals Percents and Problem Solving
1.13: Assignment- Whole Numbers Fractions Decimals Percents and Problem Solving
1.14: Introduction to Whole Number Calculations
1.15: Place Value in Whole Numbers
1.16: Rounding Whole Numbers
1.17: Adding Subtracting Multiplying and Dividing Whole Numbers
1.18: Introduction to Fraction Calculations
1.19: Convert Between Types of Fractions
1.20: Adding and Subtracting Fractions
1.21: Multiplying and Dividing Fractions
02: Calculations and Solving Equations
2.01: Mark-Up Problems
2.02: Discount Problems
2.03: Simple and Compound Interest
2.04: Solving Formulas for a Specific Variable
2.05: Introduction to Reading and Using Graphs
2.06: Graphing Points on a Coordinate Plane
2.07: Identifying Trends of a Graph
2.08: Rate of Change
2.09: Analyzing Graphical Data
2.10: Putting It Together- Calculations and Solving Equations
2.11: Why It Matters- Calculations and Solving Equations
2.12: Assignment- Calculations and Solving Equations
2.13: Introduction to Solving Equations
2.14: Variables
2.15: Solving Single-Step Equations
2.16: Solving Multi-Step Equations
2.17: Introduction to Translating Word Problems into Equations
2.18: Translating Words Into Algebra
2.19: Algebraic Problem Solving Strategies
2.20: Introduction to Solving Complex Equations
03: Accounting Theory
3.01: The Annual Report
3.02: Introduction to Accounting Principles
3.03: The Accounting Entity
3.04: Basic Accounting Principles
3.05: Accrual Basis Accounting
3.06: Putting It Together- Accounting Theory
3.07: Assignment- Accounting Theory
3.08: Why It Matters- Accounting Theory
3.09: Introduction to Accounting
3.10: Roles of Accounting in Business
3.11: Financial Accounting Standards
3.12: Ethics and Accounting
3.13: Introduction to Users of Accounting
3.14: Users of Accounting Information
3.15: Organizational Structure
3.16: Forms of Doing Business
04: Financial Statements of Business Organizations
4.01: Bookkeeping Terms and Phrases
4.02: Bookkeeping Journal Entries
4.03: Relationships Between Financial Statements
4.04: Key Information in Financial Statements
4.05: Introduction to Analyzing Data from Financial Statements
4.06: Reporting Inventories
4.07: Reporting Current Assets
4.08: Reporting Noncurrent Assets
4.09: Reporting Stockholder Equity
4.10: Reporting Unearned Revenue
4.11: Why It Matters- Financial Statements of Business Organizations
4.12: Reporting Expenses
4.13: Introduction to Other Financial Components
4.14: Core Financial Ratios
4.15: Calculating Return on Investment
4.16: Calculating Return on Equity
4.17: Other Key Ratios
4.18: Calculating Profitability Ratios
4.19: Limitations of Financial Statements
4.20: Putting It Together- Financial Statements of Business Organizations
4.21: Assignment- Financial Statements of Business Organizations
4.22: Introduction to Financial Statements
4.23: Transactions
4.24: Accounting Equation
4.25: Account Categories
4.26: Double Entry Bookkeeping System
4.27: Structures of Key Financial Statements
4.28: Introduction to the Bookkeeping Process
4.29: Expanded Accounting Equation
05: Managerial Accounting in Business
5.01: Influence on Accounting Decisions
5.02: Putting It Together- Managerial Accounting in Business
5.03: Assignment- Managerial Accounting in Business
5.04: Why It Matters- Managerial Accounting in Business
5.05: Introduction to Financial and Managerial Accounting
5.06: Differentiating Between Financial and Managerial Accounting
5.07: Managerial Accounting
5.08: Relationship Between Financial and Managerial Accounting
5.09: Introduction to Managerial Accounting Perspectives
5.10: Accounting Decision Makers
5.11: Strategy Development
5.12: Risk Management Planning
06: Cost Behavior Patterns
6.01: High-Low Method
6.02: Least Squares Regression Method
6.03: Putting It Together- Cost Behavior Patterns
6.04: Assignment- Cost Behavior Patterns
6.05: Why It Matters- Cost Behavior Patterns
6.06: Introduction to Costs
6.07: Product vs. Period Costs
6.08: Manufacturing Costs
6.09: Fixed vs. Variable Costs
6.10: Relevant Range
6.11: Introduction to Mixed Cost Analysis
6.12: Mixed Costs
6.13: Independent vs. Dependent Variable
07: Costing Methods
7.01: Introduction to Process Costing
7.02: Job Order Costing vs Process Costing
7.03: Flow of Costs (Process Costing)
7.04: Equivalent Unit Calculations
7.05: Cost Reconciliation
7.06: Direct and Step-Down Methods
7.07: Introduction to Cost Accounting Methods
7.08: Activity-Based Costing
7.09: Traditional Costing vs. ABC
7.10: Putting It Together- Costing Methods
7.11: Why It Matters- Costing Methods
7.12: Assignment- Costing Methods
7.13: Introduction to Cost Management
7.14: Value Chain
7.15: Direct and Indirect Costs
7.16: Introduction to Job Order Costing
7.17: Job Order Costing
7.18: Calculating Costs
7.19: Flow of Costs (Job Order Costing)
7.20: Recording Job Order Costs
08: Cost Volume Profit Analysis
8.01: Statement of Variable Costs and Sales Volume
8.02: Statement of Fixed Cost Selling Price and Sales Volume
8.03: Statement of Variable Cost Fixed Cost and Sales Volume
8.04: Introduction to Break-Even Point Analysis
8.05: Break-Even Point
8.06: Methods to Determine the Break-Even Point
8.07: Target Profit Analysis
8.08: Margin of Safety
8.09: The Break-Even Point and the Sales Mix
8.10: Introduction to Cost-Volume-Profit and Cost Structures
8.11: Why It Matters- Cost Volume Profit Analysis
8.12: Cost Structures
8.13: Operating Leverage
8.14: Putting It Together- Cost Volume Profit Analysis
8.15: Assignment- Cost Volume Profit Analysis
8.16: Introduction to Cost-Volume-Profit Elements
8.17: Cost-Volume-Profit Analysis
8.18: Contribution Margin Model
8.19: Net Operating Income
8.20: Contribution Margin Ratio
8.21: Introduction to the Application of Cost-Volume-Profit Concepts
8.22: Cost-Volume-Profit Analysis and Decision Making
8.23: Statement of Fixed Cost and Sales Volume
09: Operating Budgets
9.01: Production Budget
9.02: Direct Materials Budget
9.03: Direct Labor Budget
9.04: Manufacturing Overhead Budget
9.05: Ending Inventory Budget
9.06: Selling and Administrative Budget
9.07: Cash Budget
9.08: Budgeted Income
9.09: Budgeted Balance Sheet
9.10: Introduction to Flexible Budgeting
9.11: Why It Matters- Operating Budgets
9.12: Shortcomings of Static Budgets
9.13: Flexible Budget Report
9.14: Flexible Budget Reports and Multiple Cost Drivers
9.15: Putting It Together- Operating Budgets
9.16: Assignment- Operating Budgets
9.17: Introduction to the Master Budget
9.18: Budgeting and Business
9.19: Responsibility Accounting
9.20: Alternative Budget Periods
9.21: Self-Imposed Budgeting
9.22: Introduction to Preparing a Master Budget
9.23: Sales Forecast and the Master Budget
9.24: Components of the Master Budget
10: Cost Variance Analysis
10.01: Reducing Material Variances
10.02: Introduction to Labor Variances
10.03: Expected Labor Rate
10.04: Labor Rate Variance
10.05: Reducing Labor Variances
10.06: Introduction to Variable Manufacturing Overhead Variances
10.07: Variable Manufacturing Rate Variances
10.08: Variable Manufacturing Overhead Rate Variances
10.09: Reducing Variable Manufacturing Overhead
10.10: Putting It Together- Cost Variance Analysis
10.11: Why It Matters- Cost Variance Analysis
10.12: Assignment- Cost Variance Analysis
10.13: Introduction to Variance Basics
10.14: Steps of Cost Variance Analysis
10.15: Favorable versus Unfavorable Variances
10.16: Significant Variance
10.17: Introduction to Material Variances
10.18: Material Cost Variance
10.19: Price Variance
10.20: Quantity Variance
11: Relevant Revenues and Costs
11.01: Make or Buy Decisions
11.02: Special Order Decisions
11.03: Introduction to Constrained Resources
11.04: Constrained Resource
11.05: Putting It Together- Relevant Revenues and Costs
11.06: Assignment- Relevant Revenues and Costs
11.07: Why It Matters- Relevant Revenues and Costs
11.08: Introduction to Cost Types
11.09: Differential Cost
11.10: Avoidable Costs
11.11: Sunk Costs
11.12: Opportunity Costs
11.13: Analyzing Costs
11.14: Introduction to Relevant Costs
11.15: Add or Drop Decisions
12: Managerial Decisions
12.01: Special Order Decisions
12.02: Cost-Plus or Target Costing Decisions
12.03: Putting It Together- Managerial Decisions
12.04: Assignment- Managerial Decisions
12.05: Why It Matters- Managerial Decisions
12.06: Introduction to Managerial Decision-Making
12.07: Differential Analysis
12.08: Qualitative Factors
12.09: Introduction to the Role of Data in Business
12.10: Customer Elimination Decisions
12.11: Add or Drop Decisions
12.12: Make or Buy Decisions
12.13: Sell or Process Further Decisions
13: Statement of Cash Flows
13.01: Introduction to Preparing a Statement of Cash Flow
13.02: Net and Gross Cash Flows
13.03: Preparing a Statement of Cash Flow
13.04: Cash Flow Analysis
13.05: Putting It Together- Statement of Cash Flows
13.06: Assignment- Statement of Cash Flows
13.07: Why It Matters- Statement of Cash Flows
13.08: Introduction to Key Concepts in Cash Flows
13.09: Non-Cash Activities
13.10: Operating Activities
13.11: Investing Activities
13.12: Financing Activities
13.13: Introduction to Direct Method versus Indirect Method
13.14: The Indirect Method
13.15: The Direct Method
14: Performance Evaluation in Organizations
14.01: For-Profit Organizations
14.02: Non-Profit Organizations
14.03: Putting It Together- Performance Evaluation in Organizations
14.04: Assignment- Performance Evaluation in Organizations
14.05: Why It Matters- Performance Evaluation in Organizations
14.06: Introduction to Non-Financial Performance Measures
14.07: Balanced Scorecard
14.08: Performance Reports
14.09: Introduction to Financial Performance Measures
14.10: Trend Analysis of Financial Statements
14.11: Common-Size Analysis of Financial Statements
14.12: Ratio Analysis of Financial Information
14.13: Introduction to Evaluating an Organization
15: Capital Budgeting Decisions
15.01: Simple Rate of Return
15.02: Introduction to Risk and Capital Budgeting
15.03: Risk and Return
15.04: Introduction to Finalizing Capital Budgeting Decisions
15.05: Analyzing a Project
15.06: Postaudit
15.07: Putting It Together- Capital Budgeting Decisions
15.08: Assignment- Capital Budgeting Decisions
15.09: Why It Matters- Capital Budgeting Decisions
15.10: Introduction to Capital Budgeting
15.11: Steps of Capital Budgeting
15.12: When to Make Capital Budgeting Decisions
15.13: Time Value of Money
15.14: Introduction to Budget Methods for Making Decisions
15.15: The Payback Method
15.16: Internal Rate of Return
15.17: Net Present Value