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MGMT 312 : Managerial Accounting

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Last approved: Wed, 20 Jan 2016 13:26:17 GMT

Last edit: Wed, 20 Jan 2016 13:26:16 GMT

MGMT 312-WW
Campus
Worldwide
College of Business (WBUAD)
MGMT
312
Managerial Accounting
3
The course emphasizes management's use of cost information in internal decision making. Decision-making processes include cost analysis, control, allocation, and planning. A variety of accounting techniques applicable to aviation/aerospace companies are presented.

Managerial accounting is designed to provide the student with an understanding of the use of internal financial reports prepared by businesses. These reports may range from current production reports to budget analysis. Students will be able to utilize these reports in their management decision-making process.

Upon course completion, students will be able to:

1. Define the terms planning, controlling, management by exception, and relevant range.

2. Distinguish between variable and fixed costs, product and period costs, manufacturing costs and non-manufacturing costs, and job-order and process costing.

3. Analyze the relationship between cost, volume, and profit of an organization.

4. Relate manufacturing costs to the financial statements of a business and determine the net income of a manufacturing business using both the absorption approach to costing and the contribution approach to costing.

5. Describe the allocation of indirect overhead costs to products and departments using traditional costing methods versus activity-based costing.

6. Discriminate between relevant and irrelevant information in the analysis of data for making decisions concerning accepting or rejecting special sales orders, adding or deleting product lines, maximizing the use of productive capacity, determining target sales prices, whether to make or buy certain parts or products, and keep or replace equipment.

7. Develop budget and performance reports distinguishing between static budgets and flexible budgets, measuring operating results against these budgets, and computing the flexible budget cost variances and applying them to a performance analysis.

8. Discuss responsibility accounting systems, devices and techniques for controlling costs, cost allocation methods, and ways to measure performance of the company.

9. Produce capital budget reports using discounted cash flow methods including all income tax effects.2. Distinguish between variable and fixed costs, product and period costs, manufacturing costs and non-manufacturing costs, and job-order and process costing.

3. Analyze the relationship between cost, volume, and profit of an organization.

4. Relate manufacturing costs to the financial statements of a business and determine the net income of a manufacturing business using both the absorption approach to costing and the contribution approach to costing.

5. Describe the allocation of indirect overhead costs to products and departments using traditional costing methods versus activity-based costing.

6. Discriminate between relevant and irrelevant information in the analysis of data for making decisions concerning accepting or rejecting special sales orders, adding or deleting product lines, maximizing the use of productive capacity, determining target sales prices, whether to make or buy certain parts or products, and keep or replace equipment.

7. Develop budget and performance reports distinguishing between static budgets and flexible budgets, measuring operating results against these budgets, and computing the flexible budget cost variances and applying them to a performance analysis.

8. Discuss responsibility accounting systems, devices and techniques for controlling costs, cost allocation methods, and ways to measure performance of the company.

9. Produce capital budget reports using discounted cash flow methods including all income tax effects.

Located on the Daytona Beach Campus, the Jack R. Hunt Library is the primary library for all students of the Worldwide Campus. The Chief Academic Officer strongly recommends that every faculty member, where appropriate, require all students in his or her classes to access the Hunt Library or a comparable college-level local library for research. The results of this research can be used for class projects such as research papers, group discussion, or individual presentations. Students should feel comfortable with using the resources of the library. 


Web & Chat: http://huntlibrary.erau.edu
Email:  library@erau.edu
Text: (386) 968-8843
Library Phone:  (386) 226-7656 or (800) 678-9428
Hourshttp://huntlibrary.erau.edu/about/hours.html
 

Written assignments must be formatted in accordance with the current edition of the Publication Manual of the American Psychological Association (APA) unless otherwise instructed in individual assignments.

ActivityPercent of Grade
Input Grading Item100

Undergraduate Grade Scale

90 - 100% A
80 - 89% B
70 - 79% C
60 - 69% D
0 - 60% F

Graduate Grade Scale

90 - 100% A
80 - 89% B
70 - 79% C
0 - 69% F
Melinda Swigart - 6/10/2015
swigartm@erau.edu
Peter O’Reilly - 6/10/2015
oreillyp@erau.edu
Aaron Glassman - 6/10/2015
glassf10@erau.edu
Bobby McMasters
mcmas245@erau.edu
Key: 256