Join Earl Kay Stice for an in-depth discussion in this video Managerial accounting, part of Accounting Foundations: Fundamentals.
The third basic flavor of accounting…is managerial accounting.…It starts with bookkeeping.…We have a system in place to gather the raw data.…Sometimes we need to communicate some of those data…to people outside the company.…That's called financial accounting,…communicating with outsiders.…More frequently we need to use those data internally…to make internal decisions.…That's managerial accounting.…The accoounting data that are used internally…to make daily decisions.…When I say managerial accounting,…I want you to think details.…
I want you to think inside the company.…I want you to think secret.…I want you to think daily.…These are the data that people inside an organization…are going to be using intensively on a daily basis…to make those daily decisions.…Hey, we're selling blue shoes.…Should we start selling black shoes?…We're selling children's clothes.…Should we start selling adult clothes?…We're selling strawberry ice cream.…Should we start selling chocolate ice cream?…We've got a factory here in Nevada.…Should we also build one in Illinois?…
- What is accounting?
- Working with balance sheets and income statements
- Determining the costs of products
- Performing break-even analysis
- Determining average and marginal tax rates
- Understanding tax deductions and credits
Skill Level Appropriate for all
Financial Literacy: Reading Financial Reportswith Rudolph Rosenberg1h 25m Appropriate for all
Making Investment Decisionswith Rudolph Rosenberg56m 29s Appropriate for all
1. Basics of Accounting
2. Financial Accounting
3. Managerial Accounting
4. Income Taxes
Next steps3m 9s
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