ACCT 2270 - Managerial Accounting

Credit Hours: 4.00

Prerequisites: ACCT 1090

Accumulation of information useful to management in a variety of decision-making situations. Emphasizes manufacturing accounting, cost-volume relations, relevant costs, budgeting, and standard cost system, and quantitative techniques in managerial accounting.

Contact Hours: 4
Billable Contact Hours: 4

OUTCOMES AND OBJECTIVES
Outcome 1: Upon completion of this course, students will be able to apply managerial accounting techniques at a paraprofessional level.

Objectives: Given a set of exam questions, the student will be able to:

Describe the role of management accountants in an organization.
Compute a predetermined overhead rate and use the rate to assign overhead to work in process.
Compute the present value of future cash flows.
Prepare an operating budget.
Compute the materials price and usage variances and explain how they are used for control.
Compute the labor rate and efficiency variances and explain how they are used for control.

Outcome 2: Upon completion of this course, students will be able to identify accounting theory at a paraprofessional level.

Objectives: Given a set of exam questions, the student will be able to:

Explain the difference between variable and fixed cost behavior.
Compute the cost per equivalent unit.
Explain why activity-based costing produces more accurate product costs.
Define and explain the concepts of step-variable and step-fixed costs.
Compute the break-even point and targeted profit levels for a multiple-product setting.
Explain the differences between variable costing and absorption costing.
Distinguish between relevant and irrelevant costs.

COMMON DEGREE OUTCOMES
(Bulleted outcomes apply to the course)

1. The graduate can integrate the knowledge and technological skills necessary to be a successful learner.

2. The graduate can demonstrate how to think competently.

3. The graduate can demonstrate how to employ mathematical knowledge.

The graduate can demonstrate how to communicate competently.

The graduate is sensitive to issues relating to a diverse, global society.

COURSE CONTENT OUTLINE

The Role, History, and Direction of Management Accounting
Cost Concepts and Terminology
Job-Order Costing
Process Costing
Product Costing and Cost Management: The Advanced Manufacturing Environment
Special Pricing Decisions and Cost Behavior
Cost-Volume-Profit Analysis
Variable Costing
Relevant Costs for Special Decisions
Capital Budgeting: Long-Run Investment Decisions
Budgeting for Planning and Control
Standard Costing: A Managerial Control Tool

Primary Faculty
Newman, Brian
Secondary Faculty
Jex, Fred
Associate Dean
Evans-Mach, Patrick
Dean
Balsamo, Michael

Official Course Syllabus - Macomb Community College, 14500 E 12 Mile Road, Warren, MI 48088