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Managerial Accounting
ACC150 | 3 Credits
Managerial Accounting focuses on identifying and interpreting information for the planning and evaluation of a business' financial performance. You’ll also cover how to measure the costs of goods or services and analyze business expenses.
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About Managerial Accounting
What You’ll Learn
The Managerial Accounting online course focuses on the identification, gathering, and interpretation of information for planning, controlling, and evaluating the performance of a business.
- Compare and contrast managerial accounting and financial accounting, and assess how managerial accounting affects various management functions.
- Discuss ethical standards in an organization and assess their role in the field of managerial accounting.
- Define cost and distinguish between product costs and period costs.
- Analyze the fundamental manufacturing cost categories and diagram the flow of product costs in a manufacturing operation.
- Describe the job-order costing system and evaluate its suitability in manufacturing and non-manufacturing firms.
- Describe process costing and evaluate the suitability of process costing in manufacturing and non-manufacturing firms.
- Compare and contrast the traditional volume-based costing system and the activity-based costing system.
- Interpret cost behavior patterns to estimate costs and assess the need for a contribution approach to income statements.
- Graph CVP relationships and compute the break-even point using the contribution-margin and equation approach.
- Determine the criteria that decide the relevance of a cost or a benefit, and explain the concepts of sunk costs, opportunity costs, and unit costs.
- Describe the key decision areas in capital budgeting and explain the concept of time value of money.
- Describe the elements of a budgeting framework and assess the need for a budgeting framework in an organization.
- Describe the various ways to set performance standards and assess the role of performance standards in cost management.
- Explain the role of responsibility accounting in achieving set goals and list the responsibility centers.
- Determine the criteria that are used in determining and making pricing decisions.
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WANT US TO CHECK?Course Details
You’ll study concepts like how to measure the costs of producing goods or services and how to analyze and control these costs. Our Managerial Accounting course also analyzes managerial accounting principles and systems through process and job order costing.
ACE-Recommended
ACE Code:
OOSL-0033
Flexible Schedule
25-day Average Course Completion
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Prerequisites
There are no prerequisites for this course, although it is suggested that students complete Accounting I and II (ACC101 and ACC102) prior to enrolling in this course.
Course Text
The required eTextbook for this course is included with your course purchase at no additional cost.
- Wild, John J., and Ken W. Shaw. Managerial Accounting. 8th ed., McGraw Hill Education, 2022.
Course Checkpoints
Checkpoint 1: Managerial Concepts and Principles
- Checkpoint 1 Reading Assignment: Chapter 1
- Managerial Accounting and the Business Environment
- Textbook: Checkpoint 1 Reading Assignment: Review Chapter 1
- Lesson Presentation: Cost Management Concepts and Classifications
Checkpoint 2: Job Order Costing and Analysis
- Textbook: Checkpoint 2 Reading Assignment: Chapter 2
- Lesson Presentation: Job Order Costing System
Checkpoint 3: Product Costing and Analysis
- Textbook: Checkpoint 3 Reading Assignment: Chapter 3
- Lesson Presentation: Process Costing System
Checkpoint 4: Activity-Based Costing and Analysis
- Textbook: Checkpoint 4 Reading Assignment: Chapter 4
- Lesson Presentation: Approaches to Cost Management
Checkpoint 5: Cost Behavior and Cost-Volume-Profit Analysis
- Textbook: Checkpoint 5 Reading Assignment: Chapter 5
- Lesson Presentation: Analyzing Cost Behavior for Decision Making
- Textbook: Checkpoint 5 Reading Assignment: Review Chapter 5
- Lesson Presentation: Cost-Volume-Profit (CVP) Analysis
Checkpoint 6: Variable Costing and Analysis
- Textbook: Checkpoint 6 Reading Assignment: Chapter 6
- Lesson 1: Absorption and Variable Costing
Checkpoint 7: Master Budgets and Planning
- Textbook: Checkpoint 7 Reading Assignment: Chapter 7
- Lesson Presentation: Profit Planning
Checkpoint 8: Flexible Budgets and Planning
- Textbook: Checkpoint 8 Reading Assignment: Chapter 8
- Lesson Presentation: Evaluating Performance
- Textbook: Checkpoint 8 Reading Assignment: Review Chapter 8
- Lesson Presentation: Flexible Budgets and Overhead Management
Checkpoint 9: Performance Management and Responsibility Accounting
- Textbook: Checkpoint 9 Reading Assignment: Chapter 9
- Lesson Presentation: Responsibility Accounting
- Textbook: Checkpoint 9 Reading Assignment: Review Chapter 9
- Lesson 1: Investment Centers and Transfer Pricing
- Lesson 1: Allocation of Support Activity Costs and Joint Costs
Checkpoint 10: Relevant Costs for Managerial Decisions
- Textbook: Checkpoint 10 Reading Assignment: Chapter 10
- Lesson Presentation: Decision Making Relevant Costs
Assignments & Grading
Your score provides a percentage score and letter grade for each course. A passing percentage is 70% or higher.
Assignments for this course include:
- 10 Checkpoints
- 6 Benchmarks
This course has an open-book Cumulative Benchmark. Scientific calculators are allowed throughout the course.
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- Scientific calculator
- Any required course materials
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Managerial Accounting & Your Business Career
Managerial Accounting will teach you the skills to turn financial information into decisions. From budgeting and cost analysis to resource allocation, this course helps you understand the financial side of managing teams and organizations. These skills will be valuable whether you’re heading a business or a public service project.
Why it matters:
- Business and financial jobs are quickly growing — projected to add 1.7 million new jobs between 2023-2033.
- Business is a great career choice for those driven by growth and innovation.
How this course sets you up for success:
Accountant, Financial Analyst, Budget Analyst, Cost Analyst, Business Operations Manager, Project Manager, Controller, Management Consultant, and Entrepreneur
How this course sets you up for success:
Understanding managerial accounting gives you the practical tools to make informed business decisions, even if your career isn’t in finance. Start building skills today that will help you lead teams and get ahead in your business career.
3 Credits
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