Course ePortfolio

Managerial Accounting

This collection contains the California Open Educational Resources Council (CA OER) list of peer-reviewed textbooks for Managerial Accounting (common course-id ACCT 120), one of the top 50 college courses identified for inclusion in the California Open Online Library for Education (COOLforEd).

CID Number: ACCT 120

General Course Description: ACCT 120

This is the study of how managers use accounting information in decision-making, planning, directing operations and controlling.  Focuses on cost terms and concepts, cost behavior, cost structure and cost-volume-profit analysis.  Includes issues relating to cost systems, cost control, profit planning, and performance analysis in manufacturing and service environments.

Minimum units: 3.0

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Prerequisites: ACCT 110 Financial Accounting

Corequisites: None

Advisories/Recommendations: None

Pedagogical Approach

None

Learning Outcomes

At the conclusion of this course, the student should be able to:

  • Identify and illustrate the primary activities and information needs of managers and explain the role of the managerial accountant as a member of the management team; compare and contrast financial and managerial accounting;
  • Define and illustrate various cost terms, concepts, and behaviors, and evaluate their relevancy for different decision-making purposes;
  • Distinguish between product and period costs and prepare and evaluate a Schedule of Cost of Goods Manufactured, Schedule of Cost of Goods Sold, and Income Statement;
  • Prepare traditional and contribution margin income statements and define related terms;
  • Explain cost-volume-profit analysis, degree of operating leverage, and safety margin and employ each as an analytical tool;
  • Describe the traditional types of product costing systems (including job-order and process), illustrate the flow of costs in each, and prepare related accounting records and reports;
  • Discuss the impact of technology on the business environment, its implications for product and service costs, and the development of activity-based costing and management;
  • Explain the purposes of budgeting, prepare a master budget and its component schedules, and relate the budget to planning and control;
  • Explain the development and use of standard costs and flexible budgets, prepare and interpret variance analysis reports and relate them to responsibility accounting and control;
  • Explain the nature of and need for segment reporting and the relationship with cost, revenue, profit, and investment centers; prepare and analyze related segment reports;
  • Compare and contrast absorption costing and variable costing, prepare income statements using both methods, and reconcile the resulting net incomes;
  • Define relevant costs and benefits and prepare analyses related to special decisions;
  • Explain the nature of capital expenditure decisions and apply and evaluate various methods used in making these decisions; including the time value of money and
  • Identify the ethical implications inherent in managerial accounting and reporting and be able to apply strategies for addressing them.

Assessment

  • Problem-solving exercises;
  • oral and written assignments;
  • quizzes and examinations, which include problem-solving, essay and/or analysis interpretation and presentation.

Topics included in the course, such as job order costs systems, cost-volume-profit analysis, activity based costing, capital budgeting, investment decision making, will be assessed using multiple methods, as described.

Other Information

None

Course Resources

  • Managerial and Cost Accounting
    Managerial and Cost Accounting (Open (Access) Textbook)
     This book introduces managerial accounting, with a primary focus on internal business reporting, decision making,... More
  • Managerial Accounting
    Managerial Accounting (Open (Access) Textbook)
    Managerial Accounting was written around three major themes: Ready, Reinforcement and Relevance. This book is aimed... More
  • Management Accounting Concepts and Techniques
    Management accounting provides information that helps managers control activities within the firm, and to decide what... More
  • Accounting Principles: Managerial Accounting
    This is the Textbook Equity derivative work based on Accounting Principles: A Business Perspective First Global Text... More
  • Managerial Accounting
    Managerial Accounting (Open (Access) Textbook)
    Kurt Heisinger and Joe Ben Hoyle believe that students want to learn accounting in the most efficient way possible,... More