Decision Support Using Managerial Cost Accounting

Management Concepts

How long?

  • 2 days
  • online, in person

What are the topics?

Management Concepts

Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Who should attend

This course is designed for those who need to support decision-making about allocating federal resources, authorizing and modifying programs, and evaluating program performance. Program managers may also use cost information when making managerial decisions to improve operating economy and efficiency. This course does not use debit and credit entries, although a familiarity with financial record keeping and reporting will be helpful.

About the course

This course focuses on the use of cost accounting to support decision-making in the federal environment. It emphasizes applying the requirements of the Statement of Federal Financial Accounting Standards (SFFAS) No. 4: Managerial Cost Accounting Standards.

Learning Objectives

  • Interpret current accounting principles and standards for managerial cost accounting
  • Assess the impact of the accounting standards on financial reporting: full costing, traditional cost accounting methods, and reporting costs by outputs and outcomes
  • Apply current accounting standards to day-to-day events
  • Support internal decisions using cost accounting principles and methods
  • Report cost information internally and externally in accordance with standards

Course Topics

Overview of Managerial Cost Accounting in the Federal Government

  • SFFAS 4: Managerial Cost Accounting Standards and Concepts
  • Internal and External Users of Cost Information
  • How Cost Information Is Useful for Supporting Internal and External Decision Making
  • Understanding Relationships between Cost Accounting, Budgeting, Performance Assessments, and Financial Reporting
  • Decision Maker Use of Budgetary, Financial, and Nonfinancial Information
  • Basic Fundamentals of Program Assessments

Exercise: Uses and Users of Cost Accounting Information Costs

  • Proprietary and Managerial Cost Accounting
  • Cost Accounting Terms and Concepts
  • Cost Objects
  • Cost Categories
  • Cost Behavior

Federal Financial Accounting Structure, Organization, and Standards

  • Generally Accepted Accounting Principles (GAAP)
  • Federal Accounting Standards Advisory Board (FASAB)
  • Statements of Federal Financial Accounting Concepts (SFFAC)
  • SFFAC 1: Objectives of Federal Financial Reporting
  • SFFAC 4: Intended Audience and Qualitative Characteristics for the Consolidated Financial Report of the United States Government
  • Information Systems
  • Chartered Institute of Management Accountants

Accumulating and Assigning Cost

  • Accumulating Costs
  • Assigning Costs
  • Exercise: Traditional Output Costing

Applications of Managerial Cost Accounting

  • Variance Analysis
  • Cost-Volume Analysis
  • Stages of Cost-Volume Analysis
  • Outsourcing Versus Insourcing Analysis
  • Project Management Applications

Cost Accounting and Reporting

  • Cost Accounting and Federal Financial Reporting
  • Challenges to Managerial Accounting in the Federal Government
  • Exercise: Federal Treatment Agency
  • Exercise: Safe Center Agency

Decision Support Using Managerial Cost Accounting at Management Concepts

From  $769

Something went wrong. We're trying to fix this error.

Thank you for your application

We will contact the provider to ensure that seats are available and, if there is an admissions process, that you satisfy any requirements or prerequisites.

We may ask you for additional information.

To finalize your enrollment we will be in touch shortly.

Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

We are happy to help you find a suitable online alternative.