Topics revolve around the study of managerial accounting for decision-making and internal reporting. The course uses a business management approach in developing and using accounting information. Topics include accounting for decentralized operations, cost analysis, cost behavior, control measures, and profit planning.
- Have a functional knowledge of the basic managerial accounting principles.
- Develop a functional knowledge of basic managerial accounting principles.
- Understand the differences between financial and managerial accounting.
- Calculate costs in a job order and a process cost accounting system and understand how the costs flow through the system.
- Understand the types of costs and how they behave in order to calculate cost-volume-profit relationships.
- Learn the types of budgets and be able to prepare operating budgets, financial budgets and capital budgets.
- Gain an understanding of management’s decision-making process as it relates to product pricing, production, equipment replacement, etc.