Aspects of Managerial Accounting
1. Differentiate between relevant and irrelevant costs/ revenues in choosing among alternatives such as “make or buy”, “leave or buy” and understand the importance of
including not only quantitative but also qualitative factors in the decision making process.
2. Distinguish short-run from long-run pricing decisions including target costing approach.
3. Evaluate business performance using the 4 perspectives of the balanced scorecard.
4. Apply the concept of “cost pools” and bases for allocation using the direct, step and reciprocal methods, as well as accounting for joint costs, by-product costs,
spoilage, rework and scrap.
5. Apply economic order quantity theory as a tool for the management and inventory control of materials.
6. Use capital budgeting techniques such as discounted cash flow, net present value, internal rate of return, payback method, accrual accounting rate of return and
sensitivity analysis to evaluate long term investment alternatives.
7. Apply transfer pricing concepts in setting appropriate domestic and international transfer prices.
8. Analyze return on investment using the DuPont method, residual income and economic value methods to evaluate performance as an integral part of management control
9. Make sure to write two full pages even if you exceed 250 words.
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