ACCT 234 Managerial Accounting • 5 Cr.
Explores the use of managerial accounting techniques and analytical tools in business decision-making. Students focus on short- and long-range financial planning, management planning, and control. Prerequisite: ACCT 102 with a C or better, or entry code.
After completing this class, students should be able to:
- Describe how managerial accounting is used in planning, control, and decision making.
- Prepare financial statements using cost classifications for a manufacturing firm.
- Apply job-order costing, activity based costing and process costing based on major industry types.
- Analyze cost-volume-profit relationships and how they are used in planning and control.
- Analyze variable and full costing and the effect on balance sheet presenting.
- Discuss the various pricing methods such as target pricing and cost-plus.
- Describe how master budgeting and capital budgeting are used for planning and control.
- Apply standard costing and variance analysis.
- Analyze financial statements and how they are used to control operations and assess financial stability.
- Discuss the use and application of ethics in managerial accounting.