ACCT 2110 - Managerial Accounting I
4 Credits
Prerequisites ACCT 1010
This course is an introduction to the fundamental concepts of planning, controlling, and decision making used by managers. Included are the principles and concepts used to account for materials, labor, and overhead in a manufacturing or service entity. Topics include job order costing, process costing, cost behaviors, and flexible budgets and performance analysis.
Major Content Areas
Impact of various costing methods on decision making Relevant costs and capital expenditures Managerial versus Financial Accounting Budgeting and Variance Analysis Job Order, Process and Activity Based Costing Cost classifications and behavior Cost-Volume-Profit Relationships
Learning Outcomes
Define managerial accounting and the ethical responsibility of a manager. Understand the flow of cost in a process cost system and how the information is used for internal and external reporting. Classify costs by behavior, understand cost terminology, and assign costs to cost objects. Explain the difference between variable costing for internal reporting purposes and absorption costing for GAAP. Understand the flow of cost in a job order cost system and how the information is used for internal and external reporting. Prepare variance analysis using a flexible budget. Analyze relevant versus irrelevant costs and their impact on budget and capital expenditure decisions.
|
