Recently the role and area of management accounting is changing rapidly. Management accountants are no more record keepers for enterprise activities. They should do the best to increase enterprise value, get competitive advantages, and implement strategies. These changing situations expand the role of management accountants so that they also deal with nonfinancial data as well.
This lecture covers the basic concepts and foundations for management accounting, cost allocations, performance of divisions and individuals, decision-making using management accounting information, and cost and benefit analysis. The state of art of traditional cost accounting for example departmental accounting, job order accounting, process accounting, standard cost accounting will be presented as the base of management accounting. Activity-based costing, strategic cost accounting, balanced scorecard, and capital budgeting will be presented in the advanced course.