Principles of Managerial Accounting

This course introduces the student to the use of accounting information by managers. Topics include the use of accounting information for planning and control, capital investment, performance evaluation, decision-making and the statement of cash flows, along with financial statement analysis.
Prerequisite
ACC 100 Financial Accounting
Credit Units/Hours
Upon successful completion of this course, you will earn 3 semester hours of college credit. This course represents the equivalent of learning outcomes normally achieved through 45 hours of student classroom study or through distance learning instruction.
Course Learning Objectives
Upon completion of the course, students should be able to:
§ Distinguish between financial accounting and managerial accounting and understand the basic terminology involved in accounting for costs.
§ Calculate costs and journalize transactions using the job order cost system.
§ Calculate costs and journalize transactions using the process cost system.
§ Calculate total variances and subvariances for direct materials, direct labor and factory overhead.
§ Calculate the break-even point and other statistics using cost-volume-profit analysis.
§ Prepare financial statements for a firm where production and sales are not equal using absorption costing and variable costing.
§ Distinguish between centralized and decentralized operations and between cost centers, profit centers, and investment centers.
§ Prepare an income statement through departmental margin.
§ Use rate of return on investment, profit margin and investment turnover to analyze the performance of investment centers.
§ Make operating decisions based on differential analysis.
§ Calculate product price using the cost-plus approach based on total cost, product cost, and variable cost.
§ Perform a discounted cash flow analysis.
§ Calculate various financial ratios.
§ Prepare a statement of cash flows.
§ Journalize transactions involved in bonds payable.
Textbook | |
Text Title: | Introduction to Managerial Accounting |
Publisher: | McGraw Hill |
Author(s): | Brewer, P.C., Garrison, R.H., & Noreen, E.W. |
Edition: | 6th – 2020 |
ISBN: | 5 978-1260060416 |
Certificate: By Canadian Professional AcademyÂ