Managerial Accounting I & II
Course Description
The Managerial Accounting course provides students with a solid understanding of the key concepts and practices used in management accounting to support internal decision-making. Unlike financial accounting, which focuses on external reporting, managerial accounting emphasizes tools and techniques that help managers plan, control, and evaluate business operations.
The Managerial Accounting course will be broken down into two courses (part 1 and part 2) delivered for 4 weeks each. Please click on course content to see what is taught in each course.
Topics covered include:
Financial accounting vs. management accounting
Cost accounting fundamentals and costing systems
Activity-based costing
Preparation of budgets and variance analysis
Fixed and variable cost behavior and analysis
By the end of the course, students will be equipped to interpret and apply accounting data for budgeting, cost control, and strategic decision-making—essential skills for careers in management, finance, and operations.
An understanding of basic Accounting (Accounting Essentials I) is required. Knowledge of Financial Accounting is an asset.
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Course Outline
A. Part 1
Introduction to cost management systems
Different cost categories
Activity based accounting, value-added costing, & just-in-time systems
Deleting or Adding Products or Departments
Optimal use of limited resources
Influences on pricing in practice
Opportunity, outlay & differential costs
Differential and incremental costs
Make or buy product decisions
Joint product costing
B. Part 2
Management control systems & responsibility accounting
Non-financial measures of performance – Balanced Scorecard
Centralization vs de-centralization
Transfer pricing
Motivation, performance & rewards
Cost allocations – introduction
Activity based costing
Learning Outcomes:
By the end of this course, students will be able to:
Identify different types of costs and cost drivers in the accounting world
How to help a business identify areas to reduce costs and be more profitable
Will be able to create and analyze different what-if-scenarios for business management to make effective cost-profit related decisions
Be able to create budgets, forecasted financials including cash flow statements and financial statements based on forecasted costs and profits
Understand the importance of key non-financial indicators of performance for a business
Help internal management develop more reliable, transparent and accurate internal financials that stakeholders can rely on including investors, banks and shareholders
Course Time Commitment:
Ø Duration: 4 weeks
Ø Schedule: Every Tuesday and Thursday from 6-8:30pm EST
Ø Class Time: (5) hours per week (total of 20 hours of instruction.
All exercises are intended to be completed during class time. However, if additional practice is needed, students should expect to spend approximately 5–7 hours outside of class reviewing complex topics and working through exercises.
Ø Format: Instructor-led online with camera on during class unless otherwise advised by instructor.
Student Evaluation:
The instructor will evaluate the learners based on the following criteria:
Participation in the classes themselves
Attendance for at least majority of classes
Performance on group discussions and stimulations during class, hands-on exercises, case studies and demonstrations, and debrief of individual and group exercises.
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Knowledge of basic Accounting is required
Knowledge of Financial Accounting is an asset
Basic knowledge of computers
Intermediate level of English in reading, writing and speaking (CLB6 and higher)
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CAD $600
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Zaimin Karmali is a CPA (Certified Public Accountant) and Microsoft Certified. She has a Masters in Adult Education and is a Certified Training Development Professional. She has over 10 years of teaching in both the public and private sector designing her own curriculum and training strategy on complex accounting and business topics. She has over 20 years of accounting, audit and tax experience and has worked with a wide array of clients both in the government and private sector. She has a passion for teaching and always will. She loves to make students’ learning journey as valuable as possible, her way of making a difference in the world.
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Training model: online
Course length: 4 weeks, 20h
Classes held on Tuesdays and Thursdays (6-8:30pm EST)