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Responsibility Accounting & Performance Measurement

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Description

Responsibility accounting & performance measures.

We will describe the concept of decentralization, how it applies to businesses, and the pros and cons of a more decentralized organization from a centralized one.

The course will cover general managerial accounting concepts necessary to study responsibility accounting, comparing and contrasting managerial accounting and financial accounting.

We will explain what a responsibility accounting system looks like and the benefits of a responsibility accounting system.

The course will discuss the categorization of costs between direct costs and indirect costs and why this categorization between direct and indirect is useful for reporting financial data by department.

We will describe the problems with allocating indirect costs to the proper departments and explain various methods for allocating indirect costs.

The course will describe what a departmental income statement is and how to create a departmental income statement.

We will explore what a forecasted departmental income statement is and put together a forecasted departmental income statement.

The course will discuss other performance measures like return on investment (ROI) and a balance scorecard.

We will also complete a comprehensive problem using preformatted Excel worksheets and step by step instructional videos.

What Will I Learn?

Managerial accounting concepts
Responsibility accounting system and how it can improve performance
How to define and apply direct and indirect expenses
How to allocate indirect expenses using different activity basis
Steps to create a departmental income statement
How to put together a forcasted departmental income statement
How to calculate and interpret return on investment (ROI)

Topics for this course

91 Lessons7h 5m

Section 1: Introduction

1. Introduction9:19

2. PDF – 150 Decentralization0:08

3. 150 Decentralization16:40

4. PDF – 155 Performance Evaluation & Department Classifications0:08

5. 155 Performance Evaluation & Department Classifications5:45

6. Multiple Choice Question 14:48

7. Accounting Comic Break0:15

Section 2: Managerial Accounting Overview

Section 3: Responsibility Accounting System

Section 4: Direct and Indirect Expenses

Section 5: Indirect Expenses Allocation

Section 6: Departmental Income Statements

Section 7: Forecasted Departmental Income Statement

Section 8: Return on Investment (ROI)

Section 9: Balance Scorecard

Section 10: Comprehensive Problem

About the instructors

Demetrius Witting

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14 Courses

1 students

Responsibility Accounting & Performance Measurement

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Description

What Will I Learn?

Topics for this course

Section 1: Introduction

1. Introduction9:19

2. PDF – 150 Decentralization0:08

3. 150 Decentralization16:40

4. PDF – 155 Performance Evaluation & Department Classifications0:08

5. 155 Performance Evaluation & Department Classifications5:45

6. Multiple Choice Question 14:48

7. Accounting Comic Break0:15

Section 2: Managerial Accounting Overview

8. 2 Managerial Accounting Overview0:43

9. PDF – 10 Managerial Accounting Introduction0:08

10. 10 Managerial Accounting Introduction13:03

11. PDF – 20 Cost Classifications0:08

12. 20 Cost Classifications9:31

13. PDF – 30 Product Costs & Period Costs.0:08

14. 30 Product Costs & Period Costs.ENCODING16:25

15. PDF – 40 Prime Costs & Conversion Costs0:08

16. 40 Prime Costs & Conversion Costs5:35

17. PDF – 50 Manufacturer’s Balance Sheet0:08

18. 50 Manufacturer’s Balance Sheet3:15

19. PDF – 60 Manufacturer’s Income Statement0:08

20. 60 Manufacturer’s Income Statement8:49

21. PDF – 70 Manufacturing Activities Flow0:08

22. 70 Manufacturing Activities Flow7:51

23. PDF – 80 Just In Time (JIT) Manufacturing0:08

24. 80 Just In Time (JIT) Manufacturing2:58

25. Accounting Comic Break00

Section 3: Responsibility Accounting System

26. 3 Responsibility Accounting System0:27

27. PDF – 160 Controllable vs. Uncontrollable Costs0:08

28. 160 Controllable vs. Uncontrollable Costs4:57

29. PDF – 170 Responsibility Accounting System0:08

30. 170 Responsibility Accounting System9:08

31. PDF – 172 Responsibility Accounting Performance Reports0:08

32. 172 Responsibility Accounting Performance Reports9:10

33. Excel Download0:05

34. Worksheet – 172 Performance Report19:15

35. Multiple Choice Question 25:13

36. Accounting Comic Break0:15

Section 4: Direct and Indirect Expenses

37. PDF – 272 Sell or Process Further0:08

5 Indirect Expenses Allocation0:21

38. PDF – 180 Direct & Indirect Expenses0:08

39. 180 Direct & Indirect Expenses7:57

40. Multiple Choice Question 34:49

41. Accounting Comic Break5:57

Section 5: Indirect Expenses Allocation

42. Accounting Comic Break0:21

43. 5 Sales Mix Decision1:13

44. PDF – 280 Product Mix Decision0:08

45. PDF – 192 Indirect Expense Allocation0:08

46. 192 Indirect Expense Allocation13:38

47. Excel Download0:05

48. Worksheet – 192 Indirect Expense Allocation19:41

49. PDF – 194 Allocation of Occupancy Costs0:08

50. 194 Allocation of Occupancy Costs15:36

51. Excel Download0:05

52. Worksheet – 194 Allocation of Occupancy Costs15:00

53. Multiple Choice Question 44:47

54. Accounting Comic Break0:15

Section 6: Departmental Income Statements

55. 6 Departmental Income Statements0:45

56. PDF – 200 Departmental Income Statement Steps0:08

57. 200 Departmental Income Statement Steps5:11

58. PDF – 210 Example – Departmental Income Statement Steps0:08

59. 210 Example – Departmental Income Statement Steps17:34

60. Excel Download0:05

61. Worksheet – 211 Cost Allocations on a Sales Value Basis12:40

62. Multiple Choice Question 55:57

63. Accounting Comic Break0:15

Section 7: Forecasted Departmental Income Statement

64. 7 Forecasted Departmental Income0:43

65. PDF – 212 Forecasted Departmental Income Statement0:08

66. 212 Forecasted Departmental Income Statement12:52

67. Excel Download0:05