Accounting for Managers (Currently Unavailable)

Author: Robert K Minniti

This course is designed for individuals who would like to obtain a basic understanding of accounting for managers. We will discuss ways managers can leverage information received from the accounting department to improve their operations and what information they should ask for from the accounting department.

We will discuss the differences in cost accounting versus financial accounting and provide a glossary of accounting terms.

Publication Date: March 2018

Designed For
CPAs, Accounting Managers, and any individuals that want to expand their knowledge in management accounting.

Topics Covered

• Ways managers can leverage information
• What information should be asked for from accounting department
• Role of Technology in Accounting & Business
• Financial Statements
• Financial Statement Assertions
• Errors vs. Fraud
• The Fraud Triangle
• Definition and requirement of Internal Controls
• COSO Framework for Internal Controls
• The Accounting Equation
• Types of Inventory
• Inventory Valuation Methods
• Inventory Calculations
• Key Definitions
• Types of Fixed Assets
• Depreciation
• TCJA Auto Depreciation
• Other Types of Assets
• Payroll Accounting
• Budgeting
• Difference between cost accounting & financial accounting

Learning Objectives

• Identify accounting concepts
• Recognize how understanding accounting makes a better manager
• Identify accounting terminology
• Differentiate between cost accounting vs. financial accounting
• Recognize which management assertions maintain expenses properly assigned to correct accounts
• Identify parts of the COSO framework and how they apply
• Differentiate which inventory valuation method is typically used by businesses that sell perishable goods
• Recognize how small businesses benefit from the provisions of the Tax Cuts & Jobs Act
• Identify types of accounting focused on where revenue is being generated
• Describe how a company uses comparisons to current performance with past performance
• Recognize why the statement of cash flows is the most difficult financial statement on which to commit fraud
• Identify the position of a company at any given point in time
• Recognize the starting point of when to apply the COSO framework to financial reporting
• Identify prevalent reasons for financial statement fraud in U.S. companies
• Calculate the accounting equation for owners equity
• Recognize what is reduced when calculating inventory for a manufacturing business
• Differentiate depreciation methods
• Identify the requirements of the revised 2013 COSO Framework
• Recognize what is included in retail inventory
• Identify examples of intangible assets

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None