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.
Athena Title
Managerial Accounting I Hon
Equivalent Courses
Not open to students with credit in ACCT 5100, ACCT 7100, ACCT 7530E
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.
Prerequisite
(ACCT 2102 or ACCT 2102H or ACCT 2102E) and permission of Honors
Semester Course Offered
Offered fall and spring
Grading System
A - F (Traditional)
Student Learning Outcomes
- Students will understand how to prepare and interpret management accounting information for both operational and strategic decision making. Specifically, students learn how to determine the costs and profitability of different products, services, and customers.
- Students will understand how to use cost information along with other cost and revenue data to prepare cost-volume profit analysis, and 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 understand how to anticipate how management accounting information affects employees' incentives and behavior, and how to decide when and where a particular management accounting tool is likely to be useful.
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)
