ACCT 2102 - Managerial Accounting
4 Credits
Consists of analyzing information and preparing reports for internal use in the company’s management decision-making process. Emphasizes planning and control for profit-seeking enterprises. This course will cover cost terminology and behavior, fixed, mixed, and variable costs, standard costs and variances, activity-based costing, quality costs, job order costing, relevant costs, break-even and cost-volume-profit analysis, profit planning (budgeting), capital budgeting, flexible budgeting, segment reporting, transfer pricing, constrained resources, and business ethics. Meets requirements for accounting and lower-division-transfer business administration majors at most 4-year institutions.
Pre-Requisites ACCT 2101 , or ACCT 2101
Major Content Areas
Job order accounting Activity based costing and quality costs Standard costs and variances Segment reporting and transfer pricing Breakeven and CPV analysis Relevant costs; constraints Cost behavior Target costing Profit planning (budgeting) Cost terminology Flexible budgeting Capital budgeting decisions Ethics
Learning Outcomes
Apply management performance evaluation tools such as the balanced scorecard, operational performance measures and quality measures. Understand: the different elements of cost in business organizations; cost behavior; inventory cost flow including cost of good manufactured and cost of goods sold; and how costs are used in planning, control and decision-making. Apply the concepts of capital budgeting and the concepts underlying strategic capital investment decisions. Apply traditional and contribution-margin income statements; analyze cost-volume-profit relationships to support managerial planning and control. Apply the concepts of responsibility accounting and decentralization. Understand the purposes of budgeting and the master budget, prepare component budget schedules and relate the budget to planning and control to support management decision making. Understand management’s decision-making process as it relates to product pricing. Understand the development and use of standard costs and variance analysis reports; analyze them in support of responsibility accounting and cost management. Analyze various special decisions using relevant costs and benefits analysis to support decision-making and analyze short-term and long-term implications. Analyze costing systems including job-order costing, activity-based costing and process costing. Understand the differences between managerial and financial accounting.
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