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.
Billable Contact Hours: 4
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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 (CDO)
• Communication: The graduate can communicate effectively for the intended purpose and audience.
• Critical Thinking: The graduate can make informed decisions after analyzing information or evidence related to the issue.
• Global Literacy: The graduate can analyze human behavior or experiences through cultural, social, political, or economic perspectives.
• Information Literacy: The graduate can responsibly use information gathered from a variety of formats in order to complete a task.
• Quantitative Reasoning: The graduate can apply quantitative methods or evidence to solve problems or make judgments.
• Scientific Literacy: The graduate can produce or interpret scientific information presented in a variety of formats.
CDO marked YES apply to this course:
Communication: YES
Critical Thinking: YES
Information Literacy: YES
Quantitative Reasoning: YES
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
Johnson, Elise
Dean
Balsamo, Michael
Official Course Syllabus - Macomb Community College, 14500 E 12 Mile Road, Warren, MI 48088
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