Standard
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Emphasizes the interpretation of data by management
in planning and controlling business activities. Topics
include: budgeting, capital investment decisions, price level and foreign
exchange, analysis of financial statements, and internal reporting.
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Competency Areas: |
Hours: |
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Budgeting |
Class |
4 |
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Capital Investment
Decisions |
D. Lab |
4 |
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Price Level and Foreign
Exchange |
P. Lab/O.B.I. |
0 |
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Analysis of Financial
Statements |
Credit |
6 |
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Internal Reporting |
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Prerequisite/Corerequisite: ACC 103 |
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Course Guide
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Competency |
After
completing this section, the student will: |
Hours |
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Class |
D.
Lab
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P. Lab/
O.B.I. |
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BUDGETING |
10 |
10
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0 |
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Master budget |
Use the components of a
master budget. |
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Costs |
Relate budget to various
types of firm costs (e.g., variable, fixed, etc.). |
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Types of budgets |
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Responsibility accounting |
Measure
plans and actions of responsibility centers. |
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Flexible budgets and
standards |
Work with flexible budgets
for given standards. |
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Calculate cost variances. |
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CAPITAL INVESTMENT DECISIONS
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8 |
8
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0 |
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Define capital budgeting. |
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Define and use steps in
capital budgeting process. |
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Work with various capital
budgeting methods of analysis (e.g., discounted cash flow and internal rate of
return methods). |
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Define appropriate capital
budgeting decision-making criteria. |
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PRICE LEVEL AND FOREIGN EXCHANGE
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4 |
4
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0 |
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Price levels
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Apply any
price-adjustment methods to appropriate historical accounting data
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Foreign exchange
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Determine the role of
foreign exchange operation on managerial decision of a given firm.
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ANALYSIS OF FINANCIAL STATEMENTS
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10
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10
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0 |
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Financial ratios
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Define and calculate the
various financial rations from a firm’s income statement, balance sheet, and
statement of cash flows.
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Financial analysis
tools
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Use other financial
analysis tools, such as trend analysis, common-size statements, etc.
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Financial analysis
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Analyze a firm’s
financial position given the firm’s ratios and other available information.
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INTERNAL REPORTING
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8
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8
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0 |
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Reporting criteria
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Describe the
appropriate criteria for management reports.
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Apply criteria for
management reports.
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Report formats
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Describe appropriate
report formats for different managerial accounting needs.
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Apply appropriate
report formats for different managerial accounting needs.
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Suggested Resources
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Needles, Belverd and Crosson, Susan. Management Accounting (2002).