Introduces managerial accounting concepts and techniques used for internal planning, control, and decision making. Students apply job order and process costing, cost–volume–profit analysis, budgeting, and standard costing to evaluate operational and financial performance. Emphasis is placed on using managerial accounting information, including ethical considerations, to analyze business alternatives and support management decisions. This class may include students from multiple sections. (Elective)
Course Outcomes
- Analyze the differences between managerial accounting and financial accounting and their respective uses.
- Apply job order and process costing methods to determine product costs.
- Analyze and evaluate cost behavior, cost–volume–profit relationships, and incremental decision scenarios.
- Develop operating budgets to support planning and control.
- Apply standard costing systems to perform variance analysis and evaluate operational performance.
- Apply professional ethical reasoning to managerial accounting decisions.
- Evaluate business alternatives using managerial accounting information to support decision making.