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Managerial Accounting (ACCT 2224)

Total Credits: 4
Lecture Credits: 4

Description: This course explores accounting as a process of providing useful financial information to management and internal stakeholders. You will learn costing, Cost-Volume-Profit (CVP) relationships, profit planning, and budgets. You will also learn to apply these concepts in your decision-making process.

Topical Outline:
1. The need for Managerial Accounting
2. Cost terms, concepts and classifications
3. Cost-volume-profit relationships
4. Activity based costing and Activity based Management
5. Profit planning and Budgets
6. Standard Cost and Balanced Scorecard

Learning Outcomes:
1. Evaluate the applicability of financial information and non-financial information to management decision making
2. Interpret how the different cost classifications are used in decision making
3. Distinguish the various methods of applying overhead
4. Demonstrate the advantages and disadvantages of both variable and absorption costing and the impact it has on net operating income
5. Demonstrate comprehension of direct materials standards, direct labor standards; how they are set and how variances to actual are interpreted
6. Create various types of budgets which such as master budgets and flexible budgets

Prerequisites:  ACCT 2202