BUS 210 - Managerial Accounting
This course introduces current managerial accounting concepts, theories and practices applicable to manufacturing, retail and service industries. Job order, process cost and activity-based cost systems are introduced. Topics include budgeting, fixed and variable costs, breakeven analysis, profit analysis, relevant costs, capital investments, budgetary control, cost allocation. Ethical issues are discussed throughout the course.
Prerequisite: BUS 100 Accounting I or BUS 111 Financial Accounting
4 Class Hours
Learning Outcomes of the Course:
Upon successful completion of this course the student will be able to:
1. Explain the major concepts of Managerial Accounting and the organizational information needs. Be able to state the differences between managerial and financial accounting.
2. Understand each of the following concepts, be able to do calculations required to process the information associated with each topic, and discuss how to utilize the results of that analysis to make effective business decisions:
a. Cost behavior patterns and their relationship to costs, volume, and profits in light of the cost benefit constraint.
b. Differential Accounting for short term non-programmed decisions. E.G. Differentiate among direct and indirect, product and period, and various manufacturing costs.
c. Financial analysis and analysis of profitability.
d. Budgeting, including individual budgets and the master budget.
e. Capital expenditure decisions.
f. Pricing products and services.
3. Demonstrate critical thinking skills in performing the calculations, analyzing the results, and making interpretations based upon those results.
4. Demonstrate mathematical skills specific to business applications by using algebra, percent, ratios, special functions, and statistical procedures to analyze the information included in the topics listed above.
5. Demonstrate their ability to use calculators and/or computer spread sheets to solve managerial accounting problems.
6. Demonstrate an understanding of managerial accounting activities from a global perspective including special problems related to differences in currency, culture, legal, and government.
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