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Accounting 301: Applied Managerial Accounting
40 hours (10 weeks).
December 2013 - Present.
Upon successful completion of the course, students will be able to: appraise the process involved in corporate governance and how it applies to managerial accounting; evaluate the reports that make up the financial statements and how to prepare them; summarize the functions of cost classifications, cost allocation, and job order cost systems; breakdown cost-volume-profit analysis and how it relates to income statements; dissect how firms decide on a pricing strategy and the different pricing methods; summarize how companies set standard costs and why they are advantageous; point out the different methods, ratios and formulas important in financial analysis; evaluate the software programs pertinent to managerial accounting, and discover their benefits; and assess the different types of budgeting, including capital budgeting, why budgeting is important, and different methods for budgeting.
Methods of instruction include audiovisual materials and case studies. Major topics include: corporate governance for managerial accounting; cost classifications; manufacturing overhead cost allocation; job order cost system; process cost system; activity-based costing; cost-volume-profit analysis; decision making in managerial accounting; pricing objectives and methods; budgeting; budgetary control; standard costs; capital budgeting; statement of cash flows; and financial statement analysis.
In the lower division baccalaureate/associate degree category OR in the upper division baccalaureate degree category, 3 semester hours in Managerial Accounting (12/16).