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ACC2201 Management Accounting I

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Code

ACC2201

Title

Management Accounting I

Prerequisites

ACC3110

Credits

3

Description

The course makes a focus on how cost accounting helps managers to make better decisions. By focusing on basic concepts, analyses, uses, and procedures instead of procedures alone, cost accounting is recognized as a managerial tool for business planning, strategy, decision-making and implementation.

Objectives

This course will provide an introduction to selected managerial accounting topics such as cost terms and cost behavior, inventory-costing methods, cost systems, product costing, cost allocation, relevant costs/benefits, and capital budgeting. The course includes three broad topics:  Cost management,  Planning and control,  Strategic decision-making. The three primary skills you are expected to acquire in this course are: 1. Be able to identify the relevant managerial issue, problem, or opportunity. 2. Be able to identify the information needed to address this issue/problem/opportunity. 3. Be able to address the issue/problem/opportunity using the tools you have learned in the course.

Outcomes

Undergraduate program’s mission is to equip students with a strong foundation of business skills and knowledge, to develop their ability to apply this knowledge, and to enable them to transfer the knowledge to business and industry. Students are expected to demonstrate ability to:  Describe how cost accounting supports management accounting and financial accounting.  Understand how management accountants affect strategic decisions.  Describe the set of business functions in the value chain.  Distinguish between the planning and control decisions of managers.  Explain what professional ethics mean to management accountants.  Determine the breakeven point and output level needed to achieve a target operating income.  Describe the building-block concepts of costing systems.  Describe what the master budget is and explain its benefits.

Assessment

60 % -first and second assessments
40 % -final assessment

Tentative course outline

Week1

The Accountant’s Role in the Organization. An Introduction to Cost Terms and Purposes

Week2

Cost – Volume – Profit

Week3

Income Effects of Alternative Inventory Costing Methods

Week4

Midterm Exam I at 05.00 pm

Week5

Job Costing

Week6

ABC and Activity-Based Management

Week7

Cost Allocation

Week8

Midterm Exam II at 05.00 pm

Week9

Process Costing

Week10

Decision Making and Relevant Information

Week11

Pricing Decisions, Product Profitability Decisions, and Cost Management

Week12

Master Budget and Responsibility Accounting

Week13

Final exam