Course Syllabus

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Course Description:

[INSTRUCTORS: We have included the C-ID descriptor here as a place holder. As with all sections, feel free to keep this information, replace it with your local course description, or remove this section entirely.]

This is the study of how managers use accounting information in decision-making, planning, directing operations and controlling.  Focuses on cost terms and concepts, cost behavior, cost structure, and cost-volume-profit analysis.  Includes issues relating to cost systems, cost control, profit planning, and performance analysis in manufacturing and service environments.. 

Student Learning Outcomes:

[INSTRUCTORS: We have included the C-ID outcomes here as a place holder. As with all sections, feel free to keep this information, replace it with your local course Student Learning Outcomes, or remove this section entirely.]

At the conclusion of this course, the student should be able to:

  1. Identify and illustrate the primary activities and information needs of managers and explain the role of the managerial accountant as a member of the management team; compare and contrast financial and managerial accounting;
  2. Define and illustrate various cost terms, concepts, and behaviors, and evaluate their relevancy for different decision-making purposes;
  3. Distinguish between product and period costs and prepare and evaluate a Schedule of Cost of Goods Manufactured, Schedule of Cost of Goods Sold, and Income Statement;
  4. Prepare traditional and contribution-margin income statements and define related terms;
  5. Explain cost-volume-profit analysis, degree of operating leverage, and safety margin and employ each as an analytical tool;
  6. Describe the traditional types of product costing systems (including job-order and process), illustrate the flow of costs in each, and prepare related accounting records and reports;
  7. Discuss the impact of technology on the business environment, its implications for product and service costs, and the development of activity-based costing and management;
  8. Explain the purposes of budgeting, prepare a master budget and its component schedules, and relate the budget to planning and control;
  9. Explain the development and use of standard costs and flexible budgets, prepare and interpret variance analysis reports and relate them to responsibility accounting and control;
  10. Explain the nature of and need for segment reporting and the relationship with cost, revenue, profit, and investment centers; prepare and analyze related segment reports;
  11. Compare and contrast absorption costing and variable costing, prepare income statements using both methods, and reconcile the resulting net incomes;
  12. Define relevant costs and benefits and prepare analyses related to special decisions;
  13. Explain the nature of capital expenditure decisions and apply and evaluate various methods used in making these decisions; including the time value of money and
  14. Identify the ethical implications inherent in managerial accounting and reporting and be able to apply strategies for addressing them.

Course Content:

[INSTRUCTORS: Insert your course content.]

(Representing at least 80% of course coverage)

  1. Decision making: relevant costs and benefits
  2. Basic cost management concepts
  3. Cost-volume-profit analysis
  4. Job-order and process costing
  5. Activity-based costing
  6. Profit planning and budgeting
  7. Standard costing and flexible budgeting
  8. Responsibility accounting, segment reporting, and performance analysis
  9. Absorption and variable costing
  10. Capital expenditure decisions
  11. Ethical issues

Textbook:

Great news: your textbook for this class is available for free online!

Principles of Accounting Volume 2 Managerial Accounting from OpenStax, ISBN-10: 1-947172-59-X

You have several options to obtain this book:

You can use whichever formats you want. Web view is recommended -- the responsive design works seamlessly on any device.

Important Notes:

[INSTRUCTORS: Insert important notes.]

  • Any student needing accommodations should inform the instructor. Students with disabilities who may need accommodations for this class are encouraged to notify the instructor and contact the Disability Resource Center (DRC) [link to your college's DSPS website] early so that reasonable accommodations may be implemented as soon as possible. All information will remain confidential.
  • Academic dishonesty and plagiarism will result in a failing grade on the assignment. Using someone else's ideas or phrasing and representing those ideas or phrasing as our own, either on purpose or through carelessness, is a serious offense known as plagiarism. Please see the YourCollegeName handbook for policies regarding plagiarism, harassment, etc. [link to your college's academic honesty policies]

Course Summary:

Date Details Due