ACC 110 - Managerial Accounting

3 Credit Hours

Accounting techniques for managerial planning and control for all types of organizations, including nonprofit, retail, wholesale, selling, and administrative situations in large and small businesses are included in this course. Product costing for manufacturing companies is also covered; however, emphasis is placed on the implications of the methods used for decision making. Topics covered include cost-volume- profit analysis, types of costs and cost behavior patterns, relevant costs for various types of decisions, budgeting, standard cost variances, responsibility accounting, capital project evaluation techniques, job order cost systems, and process cost systems. Students will solve various problems using microcomputers and spreadsheet software.

Prerequisite(s): ACC 105, BUS 110

Semesters Offered: All

RATIONALE OF COURSE

Planning and control techniques are necessary management tools for all businesses and institutions. This course emphasizes how to measure and analyze costs relevant to different types of decisions.

COURSE COMPETENCIES

Analyze and report managerial accounting issues using word processing software and Lotus 1-2-3.
Define cost terms, concepts, and classifications.
Understand the flow of costs in a job-order costing system.
Understand the flow of costs in a process costing system.
Describe the elements of a just-in-time inventory system.
Analyze costs and their behavior patterns.
Perform cost-volume-profit analysis.
Compare and contrast variable and absorption costing.
Prepare the master budget.
Perform variance analysis.
Understand the issues related to segment reporting and profitability analysis.