Course Description
This course addresses managerial accounting concepts, techniques, rules, and utilization. We analyze and interpret accounting data to get a deeper look at the firm's operations and determine what activities really drive profitability. With that data, we can generate operating plans that best utilize a businesses’ strengths and minimize its weaknesses. Topics include the different approaches to cost accounting, the value chain, cost/profit analysis, operational budgeting, performance measurement, and capital budgeting. (3 credits)
Prerequisite
- ACC 101: Financial Accounting
Student Learning Outcomes (SLOs)
Students who successfully complete this course will be able to:
- Demonstrate an understanding of managerial accounting terminology and summarize the concepts they communicate.
- Describe and interpret the accounting impact of different business events.
- Demonstrate different cost approaches and identify the type of business that would most appropriately employ a particular one.
- Summarize performance evaluation methods.
- Describe the relationship between cost performance and organizational performance.
- Explain operating budgets.
- Compare investment opportunities.
- Interpret firm profitability ratios and describe their components.
Course Activities and Grading
| Assignments | Weight |
|---|---|
Discussions (Weeks 1-8) | 25% |
CONNECT Homework Sets (Weeks 1-7) | 35% |
Midterm Exam (Week 3) | 15% |
Comprehensive Quizzes (Weeks 4 & 7) | 10% |
Final Exam (Week 8) | 15% |
Total | 100% |
Required Textbooks
(Available through Charter Oak State College's Book Bundle)
- Williams, Jan, Sue Haka, Mark Bettner and Joseph Carcello. (2021). Financial & Managerial Accounting - eBook version with Connect Access for 18 months. 19th ed. McGraw-Hill Irwin. ISBN-13: 978-1-260-70633-8
Note: This textbook is an eBook with Connect Access. Once students purchase Connect, there is an option through the Access code to then purchase a loose-leaf copy of the text, sent directly from McGraw-Hill for an additional cost of $60.00. This additional cost is not covered by financial aid vouchers. Standard shipping time is 5-7 days.
Course Schedule
| Week | SLOs | Readings and Exercises | Assignments |
|---|---|---|---|
1 | 1,2,3,4,5 | Topics: Framework of Management Accounting & Cost Accounting Systems
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2 | 1,2,3,5 | Topics: Process Costing, Physical Inventory Flow, Cost per Equivalent Unit & Costing and the Value Chain
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3 | 1,2,3,4,5 | Topics: Cost Volume Profit Analysis & Midterm Exam
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4 | 1,2,3,5,7 | Topics: Incremental Analysis Using Relevant Costs & Comprehensive Problem
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5 | 1,2,3,4,5,6 | Topics: Responsibilty Accounting & Operational Budgeting
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6 | 1,2,3,4,7,8 | Topics: Standard Cost System & Performance Management, DuPont System, ROI and Balanced Scorecard
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7 | 1,2,5,6,7,8 | Topic: Capital Budgeting and Essay Question Set
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8 | 1-8 | Topic: Final Exam
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COSC Accessibility Statement
Charter Oak State College encourages students with disabilities, including non-visible disabilities such as chronic diseases, learning disabilities, head injury, attention deficit/hyperactive disorder, or psychiatric disabilities, to discuss appropriate accommodations with the Office of Accessibility Services at OAS@charteroak.edu.
COSC Policies, Course Policies, Academic Support Services and Resources
Students are responsible for knowing all Charter Oak State College (COSC) institutional policies, course-specific policies, procedures, and available academic support services and resources. Please see COSC Policies for COSC institutional policies, and see also specific policies related to this course. See COSC Resources for information regarding available academic support services and resources.