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Accountants and business decision makers who want to understand concepts related to measuring and tracking company performance could benefit from this course. The course allows participants to become familiar with tracking performance of a decentralized organization, as well as understanding the benefits and key pieces of both a master budget and a flexible budget.
Upon successful completion of this course participant should be able to be complete the following objectives:
- Advantages and disadvantages of decentralized organizations;
- Performance evaluation using cost centers, profit centers, and investment centers;
- Controllable and uncontrollable costs and the use of responsibility accounting system;
- Direct and indirect expenses
- Department income statements and allocation of service department expenses under the direct, step and reciprocal methods; and
- Investment center performance evaluation and other non-financial performance measures.
- Discussion of a budgeting benefits, timing, and components
- Fixed budget and fixed budget performance reports
- Flexible budget including its purpose and preparation
- Setting standard costs and calculating direct material, direct labor, and manufacturing overhead variances
CPE Credits: 3 CPE for CPAs
Instructional Method: Self-Study
NASBA Field of Study: Accounting
Program Prerequisites: None
Advanced Preparation: None
Revision Date: January 15, 2022
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