Accounting 301

Ch 1. Corporate Governance for Managerial Accounting
	Lesson 1 – The Importance of Ethics in Accounting	Take Quiz
	Lesson 2 – Managerial Accounting Functions	Take Quiz
	Lesson 3 – Managerial Accounting vs. Financial Accounting	Take Quiz
	Lesson 4 – Internal Controls in Managerial Accounting	Take Quiz
	Lesson 5 – Current Trends in Managerial Accounting	Take Quiz

Go to chapter Corporate Governance for Managerial Accounting

Practice test: Corporate Governance for Managerial Accounting

Ch 2. Financial Statements & Balance Sheets
	Lesson 1 – Preparing the Basic Income Statement and Statement of Retained Earnings	Take Quiz
	Lesson 2 – How to Prepare the Basic Balance Sheet and Statement of Cash Flows	Take Quiz
	Lesson 3 – Classified Balance Sheet: Definition & Example	Take Quiz

Go to chapter Financial Statements & Balance Sheets

Practice test: Financial Statements & Balance Sheets

Ch 3. Cost Classifications
	Lesson 1 – Purpose & Components of Cost Accounting	Take Quiz
	Lesson 2 – Cost Accounting System: Definition & Function	Take Quiz
	Lesson 3 – Direct Cost: Definition, Formula & Examples	Take Quiz
	Lesson 4 – What Are Indirect Costs? – Definition & Examples	Take Quiz
	Lesson 5 – Period Costs in Accounting: Definition & Examples	Take Quiz
	Lesson 6 – Prime Cost in Accounting: Definition & Formula	Take Quiz
	Lesson 7 – Conversion Cost in Accounting: Definition & Examples	Take Quiz
	Lesson 8 – Relevant & Irrelevant Costs: Definitions & Examples	Take Quiz

Go to chapter Cost Classifications

Practice test: Cost Classifications

Ch 4. Manufacturing Overhead Cost Allocation
	Lesson 1 – Cost Allocation: Definition, Terms & Examples	Take Quiz
	Lesson 2 – Drivers of Manufacturing Overhead Costs	Take Quiz
	Lesson 3 – Direct Method of Cost Allocation: Process, Pros & Cons	Take Quiz
	Lesson 4 – Reciprocal Distribution Method of Cost Allocation	Take Quiz
	Lesson 5 – Step-Down Method of Cost Allocation	Take Quiz
	Lesson 6 – Under- or Over-Applied Manufacturing Overhead	Take Quiz

Go to chapter Manufacturing Overhead Cost Allocation

Practice test: Manufacturing Overhead Cost Allocation

Ch 5. Job Order Cost System
	Lesson 1 – Job Order Cost System: Purpose, Pros & Cons	Take Quiz
	Lesson 2 – Manufacturing Costs of Job Order Cost Systems	Take Quiz
	Lesson 3 – Job Cost Sheet: Purpose & Characteristics	Take Quiz
	Lesson 4 – Work-in-Process Inventory Account: Definition & Example	Take Quiz
	Lesson 5 – Finished Goods Inventory: Calculation & Formula	Take Quiz
	Lesson 6 – Cost of Goods: Definition & Calculation	Take Quiz
	Lesson 7 – Cost of Goods Sold Journal Entries	Take Quiz
	Lesson 8 – Balance Sheet Accounts in Job Order Costing	Take Quiz
	Lesson 9 – Job Order Cost System for Service Companies	Take Quiz

Go to chapter Job Order Cost System

Practice test: Job Order Cost System

Ch 6. Process Cost System
	Lesson 1 – Processing Expenses with the Process Cost System	Take Quiz
	Lesson 2 – Equivalent Units & the Weighted-Average Method Formula	Take Quiz
	Lesson 3 – FIFO Inventory Method of Finding Equivalent Units	Take Quiz
	Lesson 4 – Preparing a Production Cost Report	Take Quiz
	Lesson 5 – Analyzing a Production Cost Report	Take Quiz

Go to chapter Process Cost System

Practice test: Process Cost System

Ch 7. Activity-Based Costing
	Lesson 1 – Activity-Based Management (ABM): Definition & Examples	Take Quiz
	Lesson 2 – Allocating Overhead in Activity-Based Costing Systems	Take Quiz
	Lesson 3 – Comparing Traditional Costing & Activity-Based Costing	Take Quiz
	Lesson 4 – The Seven Steps of Activity-Based Costing	Take Quiz
	Lesson 5 – Identifying Activity-Based Cost Pools & Drivers	Take Quiz
	Lesson 6 – Activity Levels in an Activity-Based Costing System	Take Quiz
	Lesson 7 – Benefits & Limitations of Activity-Based Costing	Take Quiz
	Lesson 8 – Activity-Based Costing & Service Industries	Take Quiz

Go to chapter Activity-Based Costing

Practice test: Activity-Based Costing

Ch 8. Cost-Volume-Profit Analysis
	Lesson 1 – Impact of Cost Structure on Net Income	Take Quiz
	Lesson 2 – Significance of the Relevant Range to CVP Relationships	Take Quiz
	Lesson 3 – Cost-Volume-Profit Analysis & Income Statements	Take Quiz
	Lesson 4 – Break-Even Analysis: Definition & Example	Take Quiz
	Lesson 5 – Target Net Income: Definition & Formula	Take Quiz
	Lesson 6 – Margin of Safety in Accounting: Definition & Formula	Take Quiz
	Lesson 7 – Computing the Sales Mix with Limited Resources	Take Quiz
	Lesson 8 – Operating Leverage: Definition, Calculation & Examples	Take Quiz
	Lesson 9 – Lean Manufacturing & the Theory of Constraints	Take Quiz
	Lesson 10 – Creating Contribution Margin Income Statements	Take Quiz
	Lesson 11 – Managerial Decision Making: Absorption vs. Variable Costing	Take Quiz

Go to chapter Cost-Volume-Profit Analysis

Practice test: Cost-Volume-Profit Analysis

Ch 9. Decision Making in Managerial Accounting
	Lesson 1 – Sunk Costs: Definition & Examples	Take Quiz
	Lesson 2 – Opportunity Cost: Definition, Calculations & Examples	Take Quiz
	Lesson 3 – Differential Cost in Managerial Decision Making	Take Quiz
	Lesson 4 – Implicit Costs: Definition & Examples	Take Quiz
	Lesson 5 – Identifying Fixed Costs & Variable Costs for Producers	Take Quiz
	Lesson 6 – Mixed Costs: Definition & Examples	Take Quiz
	Lesson 7 – Incremental Analysis: Definition & Examples	Take Quiz
	Lesson 8 – Identifying Relevant Costs in Accepting an Order	Take Quiz
	Lesson 9 – Impact of Relevant Costs on Make-or-Buy Decisions	Take Quiz
	Lesson 10 – Relevant Costs to Selling or Processing Materials Further	Take Quiz
	Lesson 11 – Relevant Costs to Repair, Retain or Replace Equipment	Take Quiz
	Lesson 12 – Relevant Costs in Eliminating a Product or Segment	Take Quiz
	Lesson 13 – Required Assignments Reminder

Go to chapter Decision Making in Managerial Accounting

Practice test: Decision Making in Managerial Accounting

Ch 10. Pricing Objectives & Methods
	Lesson 1 – Target Costing: Definition, Formula & Example	Take Quiz
	Lesson 2 – Cost Plus Pricing: Definition, Method, Formula & Examples	Take Quiz
	Lesson 3 – Time-and-Material Pricing: Formula & Example	Take Quiz
	Lesson 4 – Absorption Costing: Definition, Formula & Example	Take Quiz
	Lesson 5 – Variable Cost Pricing: Definition, Formula & Example	Take Quiz
	Lesson 6 – Negotiated Transfer Pricing: Definition & Examples	Take Quiz
	Lesson 7 – Cost-Based Transfer Pricing: Definition & Example	Take Quiz
	Lesson 8 – Market-Based Transfer Pricing: Definition & Computation	Take Quiz
	Lesson 9 – What is International Transfer Pricing?	Take Quiz

Go to chapter Pricing Objectives & Methods

Practice test: Pricing Objectives & Methods

Ch 11. Budgeting
	Lesson 1 – Effective Budgeting: Advantages & Essentials	Take Quiz
	Lesson 2 – Master Budget in Accounting: Definition, Components & Example	Take Quiz
	Lesson 3 – What Is Operating Budget? – Definition & Examples	Take Quiz
	Lesson 4 – Sales Budget: Definition & Examples	Take Quiz
	Lesson 5 – Production Budget: Preparation & Examples	Take Quiz
	Lesson 6 – Preparing a Direct Materials Budget	Take Quiz
	Lesson 7 – Direct Labor Budget: Definition, Example & Formula	Take Quiz
	Lesson 8 – Manufacturing Overhead Budget: Definition, Preparation & Example	Take Quiz
	Lesson 9 – Preparing a Selling & Administrative Expense Budget	Take Quiz
	Lesson 10 – Preparing a Budgeted Income Statement	Take Quiz
	Lesson 11 – Capital Expenditure Budget: Definition & Preparation	Take Quiz
	Lesson 12 – Cash Budget: Definition & Examples	Take Quiz
	Lesson 13 – Preparing & Formatting a Budgeted Balance Sheet	Take Quiz
	Lesson 14 – Major Factors Influencing the Budgeting Process	Take Quiz

Go to chapter Budgeting

Practice test: Budgeting

Ch 12. Budgetary Control
	Lesson 1 – Static Budget: Uses, Advantages & Limitations	Take Quiz
	Lesson 2 – Variances in Budgets: Definition, Calculations & Analysis	Take Quiz
	Lesson 3 – Budget Controls: Top-Down, Bottom-Up, Zero-Based & Flexible Budgeting	Take Quiz
	Lesson 4 – How to Complete a Flexible Budget Performance Report	Take Quiz
	Lesson 5 – Responsibility Accounting: Benefits & Limitations	Take Quiz
	Lesson 6 – Creating a Responsibility Report for a Cost Center	Take Quiz
	Lesson 7 – Investment Center Evaluation: Formula & Residual Income	Take Quiz

Go to chapter Budgetary Control

Practice test: Budgetary Control

Ch 13. Standard Costs
	Lesson 1 – Standard Costs: Definition & Advantages	Take Quiz
	Lesson 2 – How Companies Set Standard Costs	Take Quiz
	Lesson 3 – Calculating Direct Materials & Direct Labor Variances	Take Quiz
	Lesson 4 – How to Prepare & Format Variance Reports	Take Quiz
	Lesson 5 – Preparing Standard Cost Income Statements	Take Quiz
	Lesson 6 – Balanced Scorecard Approach to Performance Evaluations	Take Quiz
	Lesson 7 – Standard Cost vs. Job Order Cost Overhead & Volume Variance	Take Quiz

Go to chapter Standard Costs

Practice test: Standard Costs

Ch 14. Capital Budgeting
	Lesson 1 – What Is Capital Budgeting? – Techniques, Analysis & Examples	Take Quiz
	Lesson 2 – Cash Payback Technique: Definition & Formula	Take Quiz
	Lesson 3 – Evaluating a Budget Using the Net Present Value Method	Take Quiz
	Lesson 4 – Intangible Benefits Method: Definition & Challenges	Take Quiz
	Lesson 5 – Profitability Index Method: Definition & Calculations	Take Quiz
	Lesson 6 – How to Evaluate a Budget Using the Post-Audit Method	Take Quiz
	Lesson 7 – Internal Rate of Return Method: Definition & Calculation	Take Quiz
	Lesson 8 – Using the Accounting Rate of Return Method to Evaluate a Budget	Take Quiz

Go to chapter Capital Budgeting

Practice test: Capital Budgeting

Ch 15. Statement of Cash Flows
	Lesson 1 – The Statement of Cash Flows: Purpose, Format & Examples	Take Quiz
	Lesson 2 – Using the Direct Method to Prepare a Cash Flow Statement	Take Quiz
	Lesson 3 – Preparing a Cash Flow Statement by the Indirect Method	Take Quiz
	Lesson 4 – Analyzing Cash Flow Statement Patterns	Take Quiz

Go to chapter Statement of Cash Flows

Practice test: Statement of Cash Flows

Ch 16. Financial Statement Analysis
	Lesson 1 – The Horizontal Method of Analyzing Financial Statements	Take Quiz
	Lesson 2 – Using the Vertical Method to Analyze Financial Statements	Take Quiz
	Lesson 3 – Using Liquidity Ratios & Formulas in Financial Analysis	Take Quiz
	Lesson 4 – Analyzing Financial Statements using Solvency Ratios	Take Quiz

Go to chapter Financial Statement Analysis

Practice test: Financial Statement Analysis

Ch 18. Required Assignments for Accounting 301
	Lesson 1 – Applied Managerial Accounting: Assignment 1 – Business Case
	Lesson 2 – Applied Managerial Accounting: Assignment 2 – Operating & Financial Budget

Go to chapter Required Assignments for Accounting 301

Ch 19. Studying for Accounting 301
	Flashcards – Corporate Governance in Accounting Flashcards
	Flashcards – Financial Statements & Balance Sheets Flashcards
	Flashcards – Cost Classifications Flashcards
	Flashcards – Manufacturing Overhead Cost Allocation Flashcards
	Flashcards – Job Order & Process Cost Systems Flashcards
	Flashcards – Activity-Based Costing Flashcards
	Flashcards – Cost-Volume-Profit Analysis Flashcards
	Flashcards – Decisions in Managerial Accounting Flashcards
	Flashcards – Pricing Objectives & Methods Flashcards
	Flashcards – Budgeting Overview Flashcards
	Flashcards – Standard Costs Flashcards
	Flashcards – Capital Budgeting Flashcards
	Flashcards – Statement of Cash Flows Flashcards
	Flashcards – Software for Managerial Accounting Flashcards
	Lesson 15 – Accounting 301: Applied Managerial Accounting Formulas

Go to chapter Studying for Accounting 301