Catalog Course Search Details

 Department:    ACCT&

 Course #:    203

 Credits:    5

 Variable:     No

 IUs:    5

 CIP:    520301

 EPC:    n/a

 REV:    2024

 Course Description  

Introduction to managerial accounting which uses accounting data as a basis for the planning, controlling, and decision-making activities of managers. Topics include job and process costing, cost-volume-profit analysis, budgeting and control, and short-term and capital investment decision making.

 Prerequisite  

Prerequisite: ACCT& 202 with a "C" or higher or concurrent enrollment.

Contact Hours (based on 11 week quarter)

Lecture: 55

Lab: 0

Other: 0

Systems: 0

Clinical: 0

Intent: Distribution Requirement(s) Status:  

Academic Elective  

Equivalencies At Other Institutions

Learning Outcomes

After completing this course, the student will be able to:

1. Track costs associated with a manufacturing process.
2. Prepare financial statements for a manufacturer.
3. Report costs in both job order and process costing systems.
4. Use cost-volume-profit analysis for profit planning.
5. Prepare income statements for both variable costing and absorption costing methods.
6. Prepare supporting schedules and financial statements for a master budget.
7. Prepare a flexible budget and performance report showing standard cost and efficiency variances based on a standard cost system.
8. Make recommendations for short-term and capital investment decisions based on relevant quantitative and qualitative analysis.

General Education Learning Values & Outcomes

Revised August 2008 and affects outlines for 2008 year 1 and later.

Course Contents

1. Accounting and its role in managerial decision making
2. Accounting procedures for manufacturing companies
3. Cost concepts and classifications
4. Tracking and recording costs in a job order costing system
5. Tracking and recording costs in a process costing system
6. Cost behavior and estimation
7. Cost-Volume-Profit Analysis for profit planning
8. Absorption costing and variable costing methods
9. Profit reporting for management analysis
10. Preparation and use of master and flexible budgets
11. Standard cost systems and computation of variances
12. Methods for evaluating short-term business decisions
13. Methods for evaluating capital investment decisions