Managerial accounting is the process of producing financial and operating information regarding the economic condition of the organization for users internal to the organization. The process is driven by the informational needs of individuals internal to the organization with an emphasis on cost systems, pricing decisions, budgeting, planning and controlling. This course will build student¿s understanding in planning operations, controlling activities, and decision making using a wide variety of practical applications.
Student Learning Outcomes
- Explain and illustrate the use of a standard manufacturing cost system for planning and control purposes.
- Compute materials quantity and materials price variances and identify them as being favorable or unfavorable.
- Learn and apply activity based costing.
- Prepare and analyze budgets using variance analysis.
- Differentiate between fixed and flexible budgets.
- Understand the concepts of absorption costing and direct costing.
- Analyze accounting data using cost-volume-profit (CVP) analysis and CVP graphing.
- Calculate and understand the uses of break-even point (BEP) and changes in BEP.
- Prepare and understand differential analysis reports to meet various financial objectives.
- Prepare and analyze capital investment decisions.
- Summarize the types of cash flow activities reported in the statement of cash flows.
- Prepare the statement of cash flows.
- Apply managerial accounting concepts by analyzing business scenarios.
- Differentiate between cost, profit, and investment centers.
- Calculate return-on-investment and residual income.
- Make decisions based on segment analysis.
Please see eServices for section availability and current pre-req/test score requirements for this course.