BUS 3620

Description

An introduction to the concepts and methods needed to assist management in the evaluation of the business enterprise and to aid in its planning, organizing, and controlling functions. Managerial accounting will focus on providing internal management with the information needed for setting goals for the company, directing their day-to-day operations, evaluating business operations with its stated goals, and providing appropriate feedback.

Objectives

  1. Identify the major differences and similarities between financial and managerial accounting.
  2. Describe and discuss your understanding of the role of management accountants in an organization.
  3. Define and give examples of cost classifications used in making decisions: differential costs, opportunity costs, and sunk costs.
  4. Distinguish between process costing and job-order costing and identify companies that would use each costing method.
  5. Describe how fixed and variable costs behave and how to use them to predict costs.
  6. Explain how changes in activity affect contribution margin and net operating income.
  7. Explain how variable costing differs from absorption costing and compute unit product costs under each method.
  8. Compute return on investment (ROI) and show how changes in sales, expenses, and assets affect ROI.
  9. Determine the most profitable use of a constrained resource and the value of obtaining more of the constrained resource.

PreRequisites

  1. BUS 2201

Textbook(s)

Managerial accounting for managers (Rev: 2)

Publisher: McGraw-Hill/Irwin (2011)
Author: Noreen, E. W., Brewer, P. C., & Garrison, R. H.
ISBN: 978-0-07-352713-0
Price: $204.27

* Disclaimer: Textbooks listed are based on the last open revision of the course. Prior revisions and future revisions may use different textbooks. To verify textbook information, view the course syllabus or contact Student Services at students@waldorf.edu