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What is My Cost? Managerial Accounting and Product 3.5 Credits

What is My Cost? Managerial Accounting and Product 3.5 Credits

  • Rating

    4.4

  • Reviewed on

    February, 2025

  • Subject Area

    Accounting

Learning mode

E-Book
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate

Learning Objective

  • To recognize the differences between managerial and financial accounting, the various ways to classify costs, and the presentation of inventory and cost of goods within the Balance Sheet and Income Statement. 
  • To identify the job order costing techniques used to allocate product costs to jobs/products along with the related journal entries and documents. 
  • To analyze the process order costing techniques used to allocate product costs to products in addition to the related journal entries and documents.
  • To discuss the three activity-based costing methods for allocating product costs including: 1) Single factory-wide overhead rate method, 2) Department overhead rate method, and 3) Activity-based overhead costing method.

Course Overview

In the fast-paced and competitive world of business, the ability to make well-informed, fact-based decisions is the cornerstone of success for any organization. 

Whether you are an accountant or a business decision-maker, this comprehensive CPE Accounting Course is tailored to provide you with the knowledge and tools needed to navigate the intricacies of managerial accounting. Understanding and effectively managing costs is essential for sustainable growth, and this course aims to equip you with the expertise to do just that.

The use of job order costing, process costing, or activity-based costing as appropriate for the business can provide business managers with the tools and techniques they can use to analyze company performance as well as categorize and evaluate company product costs to make informed product decisions. Companies must have a good understanding of their costs to succeed.  Managers within an organization can use managerial accounting as a basis for making informed, fact-based decisions. This course will cover managerial accounting concepts.

This CPE Course allows participants to become familiar with, or brush up on, basic concepts used to allocate product costs and analyze aspects of company performance. 

Managerial accounting concepts covered in this course are: 

  • Basic Concepts of Managerial Accounting: The differences between managerial and financial accounting, the various ways to classify costs, and presentation of inventory, as well as, the cost of goods within the Balance Sheet and Income Statement. 
  • Job Order Costing and Analysis: The job order costing techniques used to allocate product costs to jobs/products in addition to the related journal entries and documents. 
  • Process Costing and Analysis: The process order costing techniques used to allocate product costs to products along with the related journal entries and documents.
  • Activity-Based Costing and Analysis: Coverage of three activity-based costing methods for allocating product costs including: 1) Single factory-wide overhead rate method, 2) Department overhead rate method, and 3) Activity-based overhead costing method.

On Demand Credits for All Qualifications

License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 3.5 CPE Approved
Accounting for CPA in Canada 3.5 CPD Eligible
Financial Accounting for Certified Internal Auditors (CIA) 3.5 CPE Eligible
Financial Reporting for Certified Management Accountants (CMA) 3.5 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 3.5 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 3.5 CPE Eligible
Accounting for Certified Government Financial Manager (CGFM) 3.5 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 3.5 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 3.5 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 3.5 CPD Eligible
Chartered Accountant - ICAEW 3.5 CPD Eligible
Financial Reporting for Certified Financial Forensics (CFF) 3.5 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 3.5 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 3.5 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 3.5 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 3.5 CPE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 3.5 CPE Eligible
Chartered Accountants - Ireland (CAI) 3.5 CPD Eligible
Chartered Accountants - Scotland 3.5 CPD Eligible
CPA - Ireland 3.5 CPD Eligible
Accounting for CIPM 3.5 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 3.5 CE Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 3.5 CPE Approved
Accounting for CPA in Canada 3.5 CPD Eligible
Financial Accounting for Certified Internal Auditors (CIA) 3.5 CPE Eligible
Financial Reporting for Certified Management Accountants (CMA) 3.5 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 3.5 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 3.5 CPE Eligible
Accounting for Certified Government Financial Manager (CGFM) 3.5 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 3.5 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 3.5 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 3.5 CPD Eligible
Chartered Accountant - ICAEW 3.5 CPD Eligible
Financial Reporting for Certified Financial Forensics (CFF) 3.5 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 3.5 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 3.5 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 3.5 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 3.5 CPE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 3.5 CPE Eligible
Chartered Accountants - Ireland (CAI) 3.5 CPD Eligible
Chartered Accountants - Scotland 3.5 CPD Eligible
CPA - Ireland 3.5 CPD Eligible
Accounting for CIPM 3.5 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 3.5 CE Eligible

Additional Information

Credits

3.5

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Author

Reid Conrad

Reid Conrad

Owner, CPE Academy

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Reid Conrad is a renowned CPA. With contagious enthusiasm, he engages audiences uniquely through text-based presentations. He is a distinguished renowned educator, and esteemed presenter in the realm of Accounting. With a passion that knows no bounds, Reid's presentations are infused with an infectious enthusiasm that captivates his audience.

Reid is a trailblazer in the field, sharing his knowledge exclusively through text-based formats. His mastery of the written word allows him to communicate complex Accounting concepts with exceptional clarity and precision, leaving a lasting impact on his audience's understanding.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

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Very Good

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JM

Jeffrey Mcgahren, CPA (US)

5

Always wanted to go back and get a refresher course in cost accounting even though I work in the public accounting realm. Enjoyed reading the entire course and it kept me engaged throughout.

UO

Uchechi Oruwari, CIA

5

This ebook provides clear explanations of key concepts such as job order costing, process costing, and activity-based costing. Highly recommended.

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