Managerial Cost Accounting for Decision Support

Course Number

Explore effective ways to gather, develop, provide, use, and analyze cost information to accurately determine the full cost of federal programs, their activities, and their outputs. This course emphasizes applying the requirements of SFFAS 4, Managerial Cost Accounting Concepts and Standards for the Federal Government, and introduces participants to the relationship between cost accounting, budgeting, and financial reporting. Gain an understanding of how cost information provides Congress, program managers, and the public with information used as the basis for making decisions about allocating federal resources; authorizing, adjusting, or eliminating programs; and assessing program performance.

Key Topics
  • Explain basic managerial cost accounting terms and concepts
  • Interpret current accounting principles
  • Identify key cost information that can provide decision support for internal and external users of financial and nonfinancial information
  • Apply current accounting standards to day-to-day events
  • Recognize the impact of the accounting standards on financial reporting: full costing, traditional cost accounting methods, activity-based cost accounting, and reporting costs by outputs and outcomes
    Audience: This course is designed for federal financial management personnel who are responsible for updating, reviewing, or determining the accuracy and reliability of accounting data pertaining to cost for outputs and responsibility segments as well as those responsible for providing the support analysis for the Annual Performance Plan. While this course does not use debit and credit entries, a familiarity with financial record keeping and reporting will be helpful.