Description:

Explores the use of managerial accounting techniques and analytical tools in business decision-making. Students focus on short- and long-range financial planning, management planning, and control. Prerequisite: ACCT 102 with a C- or better, or entry code.

Outcomes:

After completing this class, students should be able to:

Describe how managerial accounting is used in planning, control, and decision making. Prepare financial statements using cost classifications for a manufacturing firm. Apply job-order costing, activity based costing and process costing based on major industry types. Analyze cost-volume-profit relationships and how they are used in planning and control. Analyze variable and full costing and the effect on balance sheet presenting. Discuss the various pricing methods such as target pricing and cost-plus. Describe how master budgeting and capital budgeting are used for planning and control. Apply standard costing and variance analysis. Analyze financial statements and how they are used to control operations and assess financial stability. Discuss the use and application of ethics in managerial accounting.