Managerial Accounting - Comprehensive ACCG 6210

Upon successful completion of this course the student will be able to:

• Identify the roles of the management accountant in the organization’s planning and control functions.
• Prepare financial statements for a manufacturing organization.
• Differentiate between a variety of terms used in cost and managerial accounting.
• Distinguish between job-order, process costing and activity-based costing systems with regard to the methods of accumulating costs.
• Develop predetermined manufacturing overhead rates for application to jobs and implement alternative methods of dealing with under or over-applied overhead.
• Analyze the effects of changes in prices, volumes, and cost structures on organizational profitability and tconduct a sensitivity analysis of these relationships.
• Prepare all the budgets and supporting schedules required in the preparation of a master budget including performance reports incorporating flexible budgets.
• Apply the concepts of responsibility accounting to management evaluation and control.
• Develop standard costs for direct materials, direct labour, variable, and fixed overhead, compute the appropriate variances and evaluate and the decision of whether or not to investigate a variance.
• Evaluate the effects of alternative denominator activity levels in absorption costing.
• Describe and implement alternative methods of disposing of variances at year end.
• Develop cost functions using quantitative analysis techniques including high-low, regression and account analysis.
• Assess “make or buy” decisions after determining the relevant costs.
• Evaluate short term and long term pricing decisions using the cost plus approach and the market based approach as well as incorporating opportunity costs for one-time special orders.
• Determine the costs of service departments to be added to production departments using the direct, step-down and reciprocal methods.

Effective as of Spring/Summer 2015