Course Description:
In ACT500, Managerial Accounting, students will learn how to use accounting concepts from a management perspective to make sound financial decisions that will enhance the strategic planning process of an organization. Analytical tools will become familiar to the student that can be applied to real-world situations to drive sales, reduce costs, and maximize profit. Students will become familiar with different types of analyses, ratios, costing, and budgeting. The course highlights what effective managers need in building a strong financial foundation, so they can make decisions that will positively affect current and future operations of a business.
Course Learning Outcomes:
1. Describe the qualitative characteristics of accounting information and the supporting framework.
2. Prepare and analyze financial statements using vertical and horizontal analysis, liquidity, and profitability ratios.
3. Identify cost classifications, cost allocation, cost objects, cost pools, and cost drivers.
4. Identify cost behaviors, perform cost-volume-profit analysis and understand various costing systems.
5. Prepare a master budget.
6. Evaluate cost centers, profit centers, and investment centers and understand how a balanced scorecard aligns performance with organizational goals.
7. Perform incremental analysis for outsourcing, segment profitability, and sales mix decisions.
8. Perform capital investment evaluations including different capital budgeting techniques including net present value and internal rate of return.
