Managerial Accounting Topics

Managerial Accounting Topics for college

What is Managerial accounting?

Managerial accounting, also called cost 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 the present and future.

Review of Financial Accounting

Cost accounting is designed to come after financial accounting. You need a firm understanding of Creating financial statements and Statement of cash flow. before starting the topics below.

For additional review of the financial accounting topics, visit the financial accounting page.

Most Popular Topics

What is managerial accounting?

After taking financial accounting, many students dread the idea of another semester of journal entries, debits, and credit. Fortunately, managerial accounting is very different from financial accounting.

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Types of companies

It is important to identify the type of company you are working with in managerial accounting. Depending on the type of company, you will identify different costs and set up reports differently. There

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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,

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Cost objects: direct and indirect costs

Managerial accounting is the art of planning, decision making and controlling in business. In order to do that, we must identify what we want to track. Are we looking at a product, a store, a department

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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

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Income Statements for Service Companies

Service companies have the most basic income statement of all the types of companies. Since service based companies do not sell a product, the income statement will not contain cost of goods sold. Therefore,

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