Welcome to Accounting In Focus, a resource site to help you succeed in your accounting classes. Think of me as your personal tutor, guiding you through each lesson. Each topic has important concepts, examples, and videos to assist your understanding of the topic
Managerial/Cost accounting covers topics relating to planning, controlling, and decision making. This course covers cost behavior, break-even point, variable and absorption costing, budgeting and other related topics.
What is managerial accounting?-What is Managerial Accounting? Also called cost accounting or management accountancy, managerial accounting deals with compiling information to allow managers to make decisions and plan for future business needs. In managerial accounting, we frequently deal with “what if” scenarios. There are very few rules, but there are lots of best practices. It deals mostly with […]
3 Types of Companies in Managerial Accounting-It is important to identify the type of company you are working within managerial accounting. Depending on the type of company, you will identify different costs and set up reports differently. There are three major types of companies we will deal with in this course: Service companies Merchandising companies Manufacturing companies Service companies Service firms […]
The Value Chain-Typically, when we think of a company, we think of the product or service that the company sells. With a company like Dell, we think of the computers the company sells. In order for Dell to sell computers, the company has to do a lot of other things right if it wants to stay in […]
Cost objects: direct and indirect costs-Managerial accounting is the art of planning, decision making, and controlling in business and the cost object helps us assign cost. In order to do that, we must identify what we want to track. Are we looking at a product, a store, a department within the company, or even a customer? Since managerial accounting gives […]
Product and Period Costs-Most companies use products as the main basis for their cost objects. Looking at the cost of products is extremely important to pricing of those products. As we classify costs, one of the most useful classifications is product and period costs. All costs can be classified as product or period costs. These costs can also […]
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