Course description

Responsibility accounting & performance measures.

We will describe the concept of decentralization, how it applies to businesses, and the pros and cons of a more decentralized organization from a centralized one.

The course will cover general managerial accounting concepts necessary to study responsibility accounting, comparing and contrasting managerial accounting and financial accounting.

We will explain what a responsibility accounting system looks like and the benefits of a responsibility accounting system.

The course will discuss the categorization of costs between direct costs and indirect costs and why this categorization between direct and indirect is useful for reporting financial data by department.

We will describe the problems with allocating indirect costs to the proper departments and explain various methods for allocating indirect costs.

The course will describe what a departmental income statement is and how to create a departmental income statement.

We will explore what a forecasted departmental income statement is and put together a forecasted departmental income statement.

The course will discuss other performance measures like return on investment (ROI) and a balance scorecard.

We will also complete a comprehensive problem using preformatted Excel worksheets and step by step instructional videos.


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


Requirements:

  • Understanding of basic accounting terms


What you'll learn:

  • Managerial accounting concepts
  • Responsibility accounting system and how it can improve performance
  • How to define and apply direct and indirect expenses
  • How to allocate indirect expenses using different activity basis
  • Steps to create a departmental income statement
  • How to put together a forcasted departmental income statement
  • How to calculate and interpret return on investment (ROI)

Course curriculum

  • 1
    Introduction
  • 2
    Managerial Accounting Overview
    • 2 Managerial Accounting Overview
    • 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 Prime Costs & Conversion Costs
    • 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
    • Multiple Choice Question 2
    • Discussion Question 1
    • Accounting Comic Break
  • 3
    Responsibility Accounting System
    • 3 Responsibility Accounting System
    • PDF - 160 Controllable vs. Uncontrollable Costs
    • 160 Controllable vs. Uncontrollable Costs
    • PDF - 170 Responsibility Accounting System
    • 170 Responsibility Accounting System
    • PDF - 172 Responsibility Accounting Performance Reports
    • 172 Responsibility Accounting Performance Reports
    • Download Excel Worksheet
    • Worksheet - 172 Performance Report
    • Multiple Choice Question 3
    • Discussion Question 2
    • Accounting Comic Break
  • 4
    Direct and Indirect Expenses
    • 4 Direct and Indirect Expenses
    • PDF - 180 Direct & Indirect Expenses
    • 180 Direct & Indirect Expenses
    • Multiple Choice Question 4
    • Discussion Question 3
    • Accounting Comic Break
  • 5
    Indirect Expenses Allocation
    • 5 Indirect Expenses Allocation
    • PDF - 190 Indirect Expenses Allocation
    • 190 Indirect Expenses Allocation
    • PDF - 192 Indirect Expense Allocation
    • 192 Indirect Expense Allocation
    • Download Excel Worksheet
    • Worksheet - 192 Departmental Contribution Statements
    • PDF - 194 Allocation of Occupancy Costs
    • 194 Allocation of Occupancy Costs
    • Download Excel Worksheet
    • Worksheet - 194 Allocation of costs
    • Multiple Choice Question 5
    • Discussion Question 3
    • Accounting Comic Break
  • 6
    Departmental Income Statements
    • 6 Departmental Income Statements
    • PDF - 200 Departmental Income Statement Steps
    • 200 Departmental Income Statement Steps
    • PDF - 210 Example - Departmental Income Statement Steps
    • 210 Example - Departmental Income Statement Steps
    • Download Excel Worksheet
    • Worksheet - 211 Cost Allocations on a Sales Value Basis
    • Multiple Choice Question 6
    • Discussion Question 4
    • Accounting Comic Break
  • 7
    Forecasted Departmental Income Statement
    • 7 Forecasted Departmental Income Statement
    • PDF - 212 Forecasted Departmental Income Statement
    • 212 Forecasted Departmental Income Statement
    • Download Excel Worksheet
    • Worksheet - 212 Forcasted Departmental Income Statement
    • Multiple Choice Question 7
    • Discussion Question 5
    • Accounting Comic Break
  • 8
    Return on Investment (ROI)
    • 8 Return on Investment (ROI)
    • PDF - 220 Investment Center Return On Investment (ROI)
    • 220 Investment Center Return On Investment (ROI)
    • Download Excel Worksheet
    • Worksheet - 220 Return on Investment (ROI)
    • Multiple Choice Question 8
    • Short Calculation Questions
    • Discussion Question 6
    • Accounting Comic Break
  • 9
    Balance Scorecard
    • 9 Balance Scorecard
    • PDF - 250 Balance Scorecard
    • 250 Balance Scorecard
    • Multiple Choice Question 10
    • Multiple Choice Question 9
    • Short Calculation Questions
    • Discussion Question 7
    • Accounting Comic Break
  • 10
    Comprehensive Problem
    • 10 Comprehensive Problem
    • Download Excel File
    • Worksheet - 210 Comp Expense Allocation to Department
    • Multiple Choice Question 11
    • Accounting Comic Break

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!

"Responsibility Accounting & Performance Measurement"

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