Dec 06, 2022  
College Catalog 2021-2022 
    
College Catalog 2021-2022 [ARCHIVED CATALOG]

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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:

  1. Describe the role of management accountants in an organization.
  2. Compute a predetermined overhead rate and use the rate to assign overhead to work in process.
  3. Compute the present value of future cash flows.
  4. Prepare an operating budget.
  5. Compute the materials price and usage variances and explain how they are used for control.
  6. 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:

  1. Explain the difference between variable and fixed cost behavior.
  2. Compute the cost per equivalent unit.
  3. Explain why activity-based costing produces more accurate product costs.
  4. Define and explain the concepts of step-variable and step-fixed costs.
  5. Compute the break-even point and targeted profit levels for a multiple-product setting.
  6. Explain the differences between variable costing and absorption costing.
  7. 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

  1. The Role, History, and Direction of Management Accounting
  2. Cost Concepts and Terminology
  3. Job-Order Costing
  4. Process Costing
  5. Product Costing and Cost Management: The Advanced Manufacturing Environment
  6. Special Pricing Decisions and Cost Behavior
  7. Cost-Volume-Profit Analysis
  8. Variable Costing
  9. Relevant Costs for Special Decisions
  10. Capital Budgeting: Long-Run Investment Decisions
  11. Budgeting for Planning and Control
  12. 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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