Course description

Managerial and cost accounting topics of cost volume profit analysis (CVP).

We will review managerial accounting concepts and the difference between managerial accounting and cost accounting.

The course will start out introducing our primary CVP tool, a contribution margin income statement. The contribution margin income statement will give us an idea of where we are going as we then zoom into more detail going forward, focusing on the nuances of each step in the process.

We will discuss the concept of mixed costs, why they are a problem, and different methods for dealing with them including a high low method and scatter diagram method.

The course will explain the brea-keven point in units and revenue, one of the foundational concepts of cost volume profit analysis (CVP), and one many other concepts are built from.

We will discuss forecasting using cost volume profit analysis (CVP). Projections into the future are one of the significant benefits that CVP provides.

The course will cover techniques to apply CVP analysis when there are multiple inventory products.

We will also discuss the concept of operating leverage, how it is calculated, and why it is useful.

The course will talk about assumptions that cost volume profit analysis makes and limitations to CVP analysis.

We will also work a comprehensive problem using Excel and step by step instructional videos.

The course will have many Excel worksheets to help us review topics. Excel worksheets generally include three tabs. One tab will have the completed problem so we can see the result. Another tab will have a preformatted worksheet where we can fill in the problem. The last tab will have a blank worksheet where we can build our own tables if we choose.


Who this course is for:
  • Accounting students
  • Business owners
  • Anyone who whats to learn accounting


Requirements:

  • An understanding of basic accounting terms


What you'll learn:

  • How to use Cost Volume Profit Analysis (CVP)
  • Managerial accounting and cost accounting concepts
  • How to categorize costs by behavior
  • How to prepare a contribution margin income statement
  • How to calculate contribution margin, unit contribution margin, & contribution margin ratio
  • How to calculate the break even point and the margin of safety
  • How to forecast using CVP
  • How to calculate operating leverage

Course curriculum

  • 2
    Managerial Accounting Overview
    • 2 Managerial Accounting Overveiw
    • PDF - 10 Managerial Accounting Introduction
    • 10 Managerial Accounting Introduction
    • PDF - 20 Cost Classifications
    • 20 Cost Classifications
    • PDF - 30 Product Costs & Period Costs
    • 30 Product Costs & Period Costs
    • PDF - 40 Direct Materials Labor & Overhead
    • 40 Prime Costs & Conversion Costs
    • PDF - 50 Manufacturer's Balance Sheet
    • 50 Manufacturer's Balance Sheet
    • PDF - 60 Manufacturer's Income Statement
    • 60 Manufacturer's Income Statement
    • PDF - 70 Manufacturing Activities Flow
    • 70 Manufacturing Activities Flow
    • PDF - 80 Just In Time (JIT) Manufacturing
    • 80 Just In Time (JIT) Manufacturing
    • PDF - 90 Job Cost vs Process Cost
    • 90 Job Cost Vs Process Cost
    • Accounting Comic
  • 3
    Contribution Margin Income Statement
    • 3 Contribution Margin Income Statement
    • PDF - 150 Income Statement Manufacturing Company
    • 150 Income Statement Manufacturing Company
    • PDF - 154 Contribution Margin Income Statement
    • 154 Contribution Margin Income Statement
    • Worksheet to Download
    • 154 Worksheet - Contribution Margin Income Statement
    • Multiple choice 1
    • Accounting Comic
  • 4
    Mixed Costs
    • 4 Mixed Costs
    • PDF - 400 Mixed Costs
    • 400 Mixed Costs
    • PDF - 415 Scatter Diagram
    • 415 Scatter Diagram
    • Download Excel Worksheet
    • 417 Graphs In Excel
    • Worksheet - Download Excel Worksheet
    • Worksheet - 418 Scatter Graph
    • PDF - 420 High - Low Method
    • 420 High - Low Method
    • Download Excel Worksheet
    • 420 Worksheet Hith Low Method
    • Multiple choice 2
    • Accounting Comic
  • 5
    Contribution Margin, Unit Contribution Margin, & Contribution Margin Ratio
    • 5 Contribution Margin, Unit Contribution Margin, & Contribution Margin Ratio
    • PDF - 425 Contribution Margin
    • 425 Contribution Margin & Contribution Margin Ratio
    • Download Excel Worksheets
    • 425 Worksheet Contribution Margin
    • PDF - 427 Contribution margin income statement
    • 427 Contribution Margin Income Statement & Contribution Margin Per t
    • Multiple choice 3
    • Discussion Question 1
    • Accounting Comic
  • 6
    Break Even Point & Margin of Safety
    • 6 Break-Even Point & Margin of Safety
    • PDF - 428 Break even point
    • 428 Break-Even Point
    • Download Excel Worksheet
    • 428 Worksheet Break Even Point
    • Download Excel Worksheet
    • 429 Worksheet Targeted Net Income
    • PDF - 432 Margin of Safety
    • 432 Margin of Safety
    • Multiple choice 4
    • Discussion Question 2
    • Accounting Comic
  • 7
    Forecasting
    • 7 Forecasting
    • PDF - 438 Forecasting
    • 438 Forecasting
    • Download Excel Worksheet
    • 438 Worksheet Forecasting
    • Multiple choice 5
    • Discussion Question 3
    • Accounting Comic
  • 8
    Multiple Inventory Items
    • 8 Multiple Inventory Items
    • PDF - 444 Composite Units Break Even
    • 444 Composite Unit Break Even
    • Download Excel Worksheet
    • 442 Composit Units
    • Multiple choice 6
    • Discussion Question 4
    • Accounting Comic
  • 9
    Operating Leverage
    • 9 Operating Leverage
    • PDF - 448 Operating Leverage
    • 448 Operating Leverage
    • Download Excel Worksheet
    • Worksheet - 448 Operating Leverage
    • Multiple choice 7
    • Short Calculation Questions
    • Discussion Question 5
    • Accounting Comic
  • 10
    Cost Volume Profit Analysis Assumptions
    • 10 Cost Volume Profit Analysis Assumptions
    • PDF - 450 CVP Assumptions
    • 450 Cost Volume Profit Analysis Assumptions
    • Multiple choice 8
    • Short Calculation Questions
    • Discussion Question 6
    • Accounting Comic
  • 11
    Comprehensive Problem
    • 11 Comprehensive Problem
    • Download Excel Worksheet
    • CVP Comp Problem 1
    • CVP Comp Problem 2
    • CVP Comp Problem 3
    • CVP Comp Problem 4
    • Multiple choice 9
    • Accounting Comic

Meet your instructor!

Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI


Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.  

Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).  

Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.  

In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible.  

Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks.  

Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business.  

Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster.  

Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts.  

The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video.

Take this course today!

"Cost Volume Profit Analysis (CVP) – Managerial Accounting"

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