ACCT 1030 - Managerial Accounting

Academic Division: Business, Industry and Technology
Academic Discipline: Accounting

Course Coordinator: Jennifer Adkins
Assistant Dean: Vincent Palombo PhD

4 Credit(s)
This course provides information for assisting the management of a business entity in making decisions and for evaluating the effectiveness of those decisions by developing a student’s understanding of managerial accounting principles. (TAG# OBU011) UG OBU011

4 Lecture Hour(s);

Required Prerequisite Course(s): Take ACCT 1010

Student Learning Outcomes for Course

Discuss the three broad functions of management.
Apply the three classes of manufacturing costs and differeniate between product and period costs.
Calculate cost of goods manufactured.
Explain the characteristics and purposes of cost accounting; demonstrate the flow of costs in job order and process cost accounting systems.
Differentiate between traditional costing and activity-based costing (ABC).
Demonstrate an understanding of cost behavior and differentiate between variable and fixed costs.
List the five components of cost-volume-profit analysis and demonstrate the use of this technique.
Discuss the components of and the benefits of budgeting.
Demonstrate knowledge of the concepts of budgetary control and the features of responsibility accounting.
Determine the advantages of using standard costs and of the use of variances.
Discuss the steps in management’s decision-making process and the concept of incremental analysis.
Demonstrate knowledge of the capital budgeting evaluation process and explain what inputs are used in capital budgeting.
Calculate cash payback, the net present value, and annual rate of return methods of evaluating investments.
Apply basic financial statement analysis tools, including financial ratios, to analyze a company.

Topics:

Managerial Accounting Basics and Costs Concepts – Weeks 1-4
Job Order Costing – Weeks 5-9
Process Costing – Weeks 5-9
Activity-Based Costing – Weeks 5-9
Cost-Volume-Profit – Weeks 5-9
Incremental Analysis – Weeks 5-9
Budgetary Planning – Weeks 10- 14
Budgetary Control and Responsibility Accounting – Weeks 10-14
Standard Costs – Weeks 10-14
Planning for Capital Investments – Weeks 10-14
Financial Statement Analysis – Weeks 15-16

Assignments:

Practice of course topics in class
Homework preparation for class
Exam

Standard Grading Scale
93-100 A

90 - 92 A-

87- 89 B+

83 - 86 B

80 -82 B-

77- 79 C+

73 - 76 C

70 -72 C-

67- 69 D+

63 - 66 D

60 -62 D-

00- 59 F

Statement on Diversity
North Central State College believes that every student is a valued and equal member of the community.* Every student brings different experiences to the College, and all are important in enriching academic life and developing greater understanding and appreciation of one another. Therefore, NC State College creates an inclusive culture in which students feel comfortable sharing their experiences. Discrimination and prejudice have no place on the campus, and the College takes any complaint in this regard seriously. Students encountering aspects of the instruction that result in barriers to their sense of being included and respected should contact the instructor, assistant dean, or dean without fear of reprisal.

*Inclusive of race, color, religion, gender, gender identity or expression, national origin (ancestry), military status (past, present or future), disability, age (40 years or older), status as a parent during pregnancy and immediately after the birth of a child, status as a parent of a young child, status as a foster parent, genetic information, or sexual orientation,

Standard NCSC Course Policies
Important information regarding College Procedures and Policies can be found on the syllabus supplement located at this link

TEXTBOOK INFORMATION
Horngren’s Financial and Managerial Accounting, The Managerial Chapters with MyLabAccounting,

Authors: Miller-Nobels, Mattison

Edition: 7th

ISBN: 9780136715214

Workbook(s) and/or Lab Manual: None