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Nov 12, 2024
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DRAFT 2025-2026 College Catalog DRAFT [ARCHIVED CATALOG]
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ACC 212 - Managerial Accounting [SUN# ACC 2202] 3 Credits, 3 Contact Hours 3 lecture periods 0 lab periods Accounting information for managers. Includes managerial accounting environment, systems design, cost behavior analysis and use, profit planning, standard costs, and decision making.
Prerequisite(s): ACC 211
Course Learning Outcomes
- Compare and contrast the traditional and the contribution format Income Statement
- Compute the cost of jobs using a predetermined overhead rate
- Determine the effect of changes to net operating income utilizing CVP Analysis
- Use activity-based costing to compute product and customer margins
- Construct a budgeted income statement
- Compute return on investment (ROI)
Outline:
- Managerial Accounting and Cost Concepts
- Cost Classifications for manufacturing companies
- Cost classifications for predicting cost behavior
- Analysis of mixed costs
- Traditional and Contribution Format Income Statements
- Job Order Costing
- Flow of costs in a job-order cost system
- Determination and application of the predetermined overhead rate
- Schedules of Cost of Goods Manufactured and Cost of Goods Sold
- Distinguishing between under-and over-applied manufacturing overhead
- Process Costing
- Explanation of the flow of costs in a process cost system
- Computation of equivalent units
- Compute and apply costs
- Cost Volume Profit
- Basics of Cost-Volume-Profit (CVP) analysis
- Break-Even and Target Profit Analysis
- Sales Mix
- Activity Based Costing
- Overview of Activity-Based Costing (ABC)
- Application of ABC costing
- Comparison of Traditional and ABC Product Costs
- Limitations of Activity-Based Costing
- Master Budgeting
- Overview of the Master Budget
- Preparing the Master Budget
- Flexible Budgets and Performance Analysis
- Flexible budget reports
- Flexible budget variances
- Flexible budgets with multiple cost drivers
- Standard Costs and Variances
- Standard costs
- Determination of direct materials variances
- Determination of direct labor variances
- Determination of variable manufacturing overhead variances
- Performance Measurement in Decentralized Organizations
- Responsibility Accounting
- Evaluating Investment Center performance
- Residual Income
- Operating performance measures
- Differential Analysis
- Cost concepts for decision making
- Adding and drooping product lines and other segments
- Make or buy decisions
- Opportunity costs
- Special orders
- Utilization of constrained resource
- Joint product costs
- Capital Budgeting Decisions
- The Payback method
- Net present value method
- The internal rate of return
- The simple rate of return
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