Course Description

The design of accounting systems to serve the internal needs of management with an emphasis on underlying theory. Product costing, including activity-based costing; budgeting and other planning applications, information for decision making, planning and control application for decentralized organizations.

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Athena Title

Managerial Accounting I Hon

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Equivalent Courses

Not open to students with credit in ACCT 5100, ACCT 7100, ACCT 7530E

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Non-Traditional Format

Additional Requirements for Honors Credit: Because the J.M. Tull School of Accounting devotes only one three-hour course to management accounting, it is not possible to cover in our regular class all of the management accounting topics that may appear on the CPA exam. Students who plan to sit for the CPA exam will benefit from studying four additional management accounting topics that are likely to appear on the CPA exam. Additional topics tested on exam I are economic order quantity, joint products, and spoilage. An additional topic tested on exam II is overhead variances.

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Prerequisite

(ACCT 2102 or ACCT 2102H or ACCT 2102E) and permission of Honors

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Semester Course Offered

Offered fall and spring

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Grading System

A - F (Traditional)

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Student learning Outcomes

• Students will prepare and interpret management accounting information for both operational and strategic decision making. Specifically, students understand how to determine the costs and profitability of different products, services, and customers.
• Students will prepare cost-volume profit analyses using cost information along with other cost and revenue data to make informed strategic and operational business decisions, such as identifying relevant revenues and costs for special short-term decisions, such as accepting or rejecting one-time only special orders.
• Students will understand how to use cost information to plan business operations, and to measure performance of different responsibility centers and their managers using techniques such as variance analysis.
• Students will predict how management accounting information affects employees' incentives and behavior and indicate when and where a particular management accounting tool is likely to be useful.

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Topical Outline

• Job Costing
• Activity-Based Costing
• Process Costing
• Cost-Volume-Profit Analysis
• Relevant Costs and Business Decisions (e.g., pricing, special orders, product mix, outsourcing)
• Budgeting
• Standard Costing and Variance Analysis
• Other Topics (e.g., variable costing, other performance measures)

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Institutional Competencies Learning Outcomes

Analytical Thinking

The ability to reason, interpret, analyze, and solve problems from a wide array of authentic contexts.

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