Standards

 

ACC 158 – Managerial Accounting

Course Description:

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.

 

Competency Areas:

Hours:

Budgeting

Class

2

Capital Investment Decisions

D. Lab

6

Price Level and Foreign Exchange

P. Lab/O.B.I.

0

Analysis of Financial Statements

Credit

5

Internal Reporting

 

 

Prerequisite:

ACC 103

Corequisite:

 

 

Course Guide

 

Competency

After completing this section, the student will:

Hours

Class

D. Lab

P. Lab/

O.B.I.

BUDGETING

5

15

0

Master budget

Use the components of a master budget.

 

 

 

Costs

Relate budget to various types of firm costs (e.g., variable, fixed, etc.).

 

 

 

Types of budgets

Use various budget formats

 

 

 

Responsibility accounting

Measure plans and actions of responsibility centers.

 

 

 

Flexible budgets and standards

Work with flexible budgets for given standards.

 

 

 

 

Calculate cost variances.

 

 

 

CAPITAL INVESTMENT DECISIONS

3

10

0

Capital budgeting

Define capital budgeting.

 

 

 

 

define and use steps in capital budgeting process.

 

 

 

 

Work with various capital budgeting methods of analysis (e.g., discounted cash flow and internal rate of return methods).

 

 

 

 

Define appropriate capital budgeting decision-making criteria.

 

 

 

PRICE LEVEL AND FOREIGN EXCHANGE

2

5

0

Price levels

Apply any price-adjustment methods to appropriate historical accounting data

 

 

 

Foreign exchange

Determine the role of foreign exchange operation on managerial decision of a given firm.

 

 

 

ANALYSIS OF FINANCIAL STATEMENTS

5

15

0

Financial ratios

Define and calculate the various financial rations from a firm’s income statement, balance sheet, and statement of cash flows.

 

 

 

Financial analysis tools

Use other financial analysis tools, such as trend analysis, common-size statements, etc.

 

 

 

Financial analysis

Analyze a firm’s financial position given the firm’s ratios and other available information.

 

 

 

INTERNAL REPORTING

5

15

0

Reporting criteria

Describe the appropriate criteria for management reports.

 

 

 

 

Apply criteria for management reports.

 

 

 

Report formats

Describe appropriate report formats for different managerial accounting needs.

 

 

 

 

Apply appropriate report formats for different managerial accounting needs.

 

 

 

 

Suggested Resources

 

Books

 

Anderson, L., & Sollenberger, H. (1992). Managerial accounting (8th ed.),  Cincinnati: South-Western.

Copeland, R.M., et al. (1990). Managerial accounting (3rd ed.).  Houston: Dame.

Dansby, R., et al. (1989).  College accounting.  Englewood Cliffs, NJ: Prentice Hall.

Diamond, M. A., et al. (1994). Fianancialo and managerial accounting. Cincinnati: South-Western.

Dominiak, G., &. Launderback, J. (1994).  Managerial accounting (7th  ed.). Cincinnati: South-Western

Hansen, D., & Mowen, M. (1994).  Management accounting (3rd  ed.). Cincinnati: South-Western.

Needles, B., et al. (1994). Financial and managerial accounting.  Boston: Houghton Miffin.

Skousen, F. et al. (1994). Introduction to management accounting.  Cincinnati: South-Western.