Welcome To Accounting 1C
“Principles of Managerial Accounting”
Mark Martinelli
“Now where do I find my course green-sheet?”
The Five Joys of Accounting 1C
1. Learn the Basics of Managerial Accounting!
2.
3.
4.
5.
Lectures / Illustrations / Group Work per Class
8 Chapters Covered from the Textbook
Chapter Concepts A Little Less Complex than 1B
Everyone’s life can benefit from taking this course!
Education Quality: The Five Factors
1. Instructor Attributes
2. Student Attributes
3. Course Materials
4. Classroom
5. External Environment
Instructor Attributes
1. Education / Experience
2. Communication Skills
3. Coordination of class
Student Attributes
1. Aptitude for learning subject matter
• Strong Math, reading, and writing skills
• Course Prerequisites – Accounting 1A
2. Attitude for learning subject matter
• Enjoy the class
• Willingness to learn
• Following the right course of learning!
Why are you really here?
1. The course is required in my major?
2. To get a passing grade / highest grade?
3. For my job / job enhancement / job change?
4. Learn something new?
5. For fun?
Course Content of Accounting 1C
1. Basics of Managerial Accounting
2. Cost Flow Analysis
3. Cost-Volume-Profit Analysis
4. Budget Planning
5. Flexibility Budget Analysis
6. Responsibility Accounting
7. Standard Costing - Variance Analysis
8. Incremental and Capital Budgeting
Brief Overview of Accounting 1C
by Chapter Content
Chapter 19-Basics
• Basics of Managerial Accounting
• Managerial vs. Financial Accounting
• Management Functions
• Ethics
• Cost Concepts
• Manufacturing vs Merchandising
• Product vs Period
• Fixed vs Variable
• Opportunity vs Sunk
• Total vs Unit
• Unexpired vs expired
• Asset vs Expense
• Financial Statements – Manufacturing Costs
• Modern management accounting – trends & practices
Brief Overview of Accounting 1C
by Chapter Content
Chapter 20- Job Order Costing
• Cost Accounting Systems
• Job Order vs Process Costing
• Job Order Cost Flow
• Applied Overhead – Under or Over Applied
Brief Overview of Accounting 1C
by Chapter Content
Chapter 21- Process Costing
• Similarities & Differences
• Job Order vs Process Costing
• Process Cost Flow
• Assignment of manufacturing costs
• Equivalent Units of Production
• Production Cost Report
• Modern management accounting – trends & practices
• JIT
• ABC
• Traditional costing vs ABC
Brief Overview of Accounting 1C
by Chapter Content
Chapter 22- CVP
• Cost Behavior Analysis
• How costs behave to different levels of production
• Cost-Volume-Profit (CVP) Analysis
• Breakeven Analysis
• Targeted Net Income
• Margin of Safety
• Variable Costing vs Absorption Costing
Brief Overview of Accounting 1C
by Chapter Content
Chapter 23-Budget Planning
• Budgeting Basics
• Operating Budgets
• Preparing a Master Budget – Sales, production,
direct materials, direct labor, overhead, selling &
administrative expenses, budgeted income
statement
• Financial Budgets
• Cash budget and budgeted balance sheet
• Non-Manufacturing Firms’ Budgets
• Merchandisers, service firms, not-for-profit org.
Brief Overview of Accounting 1C
by Chapter Content
Chapter 24- Responsibility Accounting
•
•
•
•
Budgetary Control
Static vs Flexible budget
Controllable vs Non-controllable Revenues & Costs
Responsibility Centers
• Cost Centers
• Profit Centers
• Investment Centers
Brief Overview of Accounting 1C
by Chapter Content
Chapter 25- Standard Costs & Variances
• Standards and Standard Setting – Ideal vs Normal
• Analyzing Variances – what are they?
• Direct materials
• Direct Labor
• Overhead
• Standard Cost Accounting System
Brief Overview of Accounting 1C
by Chapter Content
Chapter 26- Incremental Analysis & Capital
Budgeting
• Decision making process
• How incremental analysis works
• Types of incremental analysis
• Capital budgeting
• Evaluation process
• Methods used
Accounting 1C
Grades
• Grade is determined by a standard percentage on 1000
possible points – 90%, 80%, 70%, 60%
• Exams covers 60% - Announced – Set for specific class period!
• Quizzes covers 30% - Unannounced too! Anytime!
• Homework covers 10% - All due at the end of the quarter!
• Remember the 3 No-No’s
– No grading on a curve
– No dropping your lowest score
– No extra credit projects
Accounting 1C
One Midterm
• Closed Book/Closed Notes/Closed Mouth
• First 4 Chapters-Chapters 19 thru 22
• 300 Points / 20 Multiple Choice-10 Points Each/No
Penalty For Guessing AND……
• 4 problems at 50 points per problem/with partial
credit for showing your work.
Accounting 1C
Final Exam
• Closed Book/Closed Notes/Closed Mouth
• Chapters 19 thru 26
• 300 Points / 20 Multiple Choice-10 Points Each/No
Penalty For Guessing AND…..
• 4 problems at 50 points per problem/partial credit.
OR…..
• Or some mixture of the two.
Accounting 1C
Quizzes
• Open Book/Open Notes/Open Mouth within your
assigned group only!
• Could be all Multiple Choice Each/No Penalty For
Guessing.
• Or could be all problems/with partial credit for
showing your work.
Accounting 1C
Welcome! Let’s Get Started!
• You need your course materials in class
– Calculators are permitted on quizzes and exams and during
class daily
– You need your text book each class period
– You need writing materials for in class work
• Book store open first Saturday of every quarter
• Class Breaks usually are at 10:30AM and 12:20PM
• Any questions? Let’s get started!