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Nov 25, 2024
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2021-2022 Catalog [ARCHIVED CATALOG]
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ACCT 102 - Managerial Accounting PREREQUISITES: ACCT 101 - Financial Accounting . PROGRAM: Accounting CREDIT HOURS: 3 LECTURE HOURS: 3 DATE OF LAST REVISION: Fall, 2013
This course emphasizes managerial accounting concepts, general versus cost accounting systems, cost behavior, cost-volume-profit analysis, budgeting, standard cost systems, responsibility accounting, incremental analysis, and capital investment analysis.
MAJOR COURSE LEARNING OBJECTIVES: Upon successful completion of this course the student will be expected to:
- Discuss the difference between financial and managerial accounting and identify the characteristics, process, organization, and the profession of managerial accounting.
- Define and discuss the concepts, procedures, and characteristics of a manufacturing process with a job order cost system.
- Distinguish between the process cost system and the job-order cost system and describe and illustrate a process cost accounting system.
- Describe the nature and objectives of budgeting, including procedures and various reports.
- Describe and illustrate methods used for evaluation of capital investment proposals, capital rationing and planning, and controlling capital investment expenditures.
- Describe and explain the nature and types of decentralization.
- Define and discuss responsibility accounting for investment centers and transfer pricing.
- Describe and illustrate inventory control, quantitative techniques for estimating costs, and the learning effect in estimating costs.
- Define and explain the managerial use of expected value concept, variance analysis using expected value, and maximum concepts of decision-making policies.
- Define and illustrate the usefulness of financial statement analysis, types of analysis, basic analytical procedures, solving analysis, profitability analysis, and selection of analytical procedures.
- Describe the nature of concepts of working capital, analysis of cash, and cash flow from operations.
- Identify and illustrate the characteristics of other selected topics.
- Communicate effectively using correct Standard English, both orally and in writing by completion of papers, projects and/or presentations.
COURSE CONTENT: Topical areas of study include - Fixed costs
Contribution margin
Variable costs
Break-even analysis
Process cost
Job order cost
Variable costing
Activity based costing
Net present value
Time value of money
Budgets
Cost-profit-volume analysis
Cost drivers
Production costing Course Addendum - Syllabus (Click to expand)
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