Accounting
Approved course information last updated: 2 years, 3 months ago
Pre-requisites: ACC 111
Requisite To: ACC 333 ACC 335 ACC 342 ACC 416 ACC 435 ACC 444
Lab Session:
This is an introductory course which introduces a framework of cost and managerial accounting that emphasizes the role of accounting information for managerial purposes. The aim is to introduce a framework of cost and managerial accounting that emphasizes the role of accounting information management proposes. Since it is a “core” course for all college students it covers basic methods of cost measurement and reporting the relevant information for planning, control, and decision making. It is also concerned with costing systems within the recent technological environment.
- The learning objectives for this course, listed below, are mapped to the learning goals of the college of business administration undergraduate program, which can be found at the end of this syllabus.
- After completing this course, the students should achieve the following goals:
- Coverage of an overview of managerial accounting including objectives of managerial accounting compared to financial accounting.
- Understanding of basic cost terms, concepts and classifications, along with the importance of identifying cost drivers and the economic concept of cost.
- Understanding of the role of cost-volume-profit analysis in managerial accounting; application in the case of a single- product and multiple -products firms.
- Measurement of product cost under variable and absorption costing systems and its impact upon income measurement.
- Understanding the process of preparing the master budget.
- Role of cost in decision-making; the concept of relevant cost and taking short-term decisions.
- Introduction to capital budgeting decisions.