10404 Cost and Managerial Accounting 1

Credits: 6 intermediate credits in Management or in Economics

Prerequisites: none

Required: Introduction to Accounting

Author: Joshua Livnat

Topics: Cost accounting systems in business – an introduction to various cost accounting systems classified according to the different services or products; Costing concepts – how much does it cost to provide a service, to sell a product, to produce a product, and what is involved in the process; Decision-making – various ways to process data relevant to managerial decisions; Dealing with data – different ways to relate to cost accounting data according to traditional and modern approaches, in light of economic changes in recent decades; Preparing a business plan – a business plan requires financial resources (income from activity, internal resources, external resources); How to construct a budget by stages, what is an operational budget and what is a project budget; Cost information for managerial control – analyzing deviations between forecast and actual activity; Activity-based costing (ABC).

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1There is some overlap in the content of this and other courses. For details, see Overlapping Courses.