Designed to give non-accounting majors an appreciation of the uses and limitations of cost and managerial accounting in the decision-making processes of an organization. Emphasis will be placed on identifying the relevance of this discipline to other functional areas: capital budgeting, production planning, cost minimization, contribution maximization, pricing and marketing policies. Concepts will be related to both manufacturing and knowledge-based, service business environments. Students will study a variety of analytical techniques that can be applied to financial and operational data to support management decisions.
Compute and evaluate relevant performance measures for controlling decentralized operations.
Compute the breakeven point and use CVP formulae to determine the activity level needed to achieve a desired net profit figure.
Prepare analysis and make recommendations in several typical business decision scenarios where relevant costs are at issue: whether to keep or replace old equipment, whether a product line or other organizational segment should be dropped or retained, whether a business should make-or-buy its products or components, whether a special order should be accepted, and what is the most profitable use of a constrained resource.
Determine the acceptability of an investment project using the net present value method, and other evaluation models commonly used to assess outlays on long-term projects.
Effective as of Fall 2015
FMGT 3224 is offered as a part of the following programs:
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