ACCT 2270 - Managerial Accounting

Credit Hours: 4.00

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.

• 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.

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