Management Accounting Concepts and Techniques

Written by: Dennis Caplan (University at Albany - State University of New York)

When it comes to making business decisions, having access to current financial information us crucial. Dennis Caplan from the University of Albany defines financial accounting as those accounting systems which record what has happened, i.e. end of year and stockholder reports. He explains that management accounting reflects what is happening currently in the business and contends that it provides a much truer representation of a company’s current financial status.

His accounting textbook provides a much better explanation of the different types of accounting than I do here. It is presented as a series of web pages. Printer-friendly versions are available upon request.

Management Accounting Concepts and Techniques Table of Contents

Part 1: Introduction
Management accounting defined, described, and compared to financial accounting
Relevant concepts from management and operations management, and a brief history of management accounting
Part 2: Microeconomic foundations of management accounting
Relevant cost analysis
Cost behavior
Flexible budgeting
Cost variances for direct materials and labor
Part 3: Product costing and cost allocations
Product costing
Normal costing
Standard costing
Activity-based costing
Allocation of service department costs
The role of cost in setting prices
Part 4: Determining the cost of inventory
Alternative inventory valuation methods
Fixed manufacturing overhead
Cost variances for variable and fixed overhead
Joint products
Part 5: Planning tools and performance measures for projects and divisions
Capital budgeting
Operating budgets
Budgetary incentive schemes
Divisional performance measures
Transfer pricing
Corporate social responsibility
Five-page summary of key concepts

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Management Accounting Concepts and Techniques

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