ACCT& 203: Principles of Accounting III

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Class Program

Accounting

Credits

Clinical Hours None

Weekly Contact Hours

Course ID

092124

Meets Degree Requirements For

General Elective

Description

Covers topics and concepts related to internal decision-making for business, to help managers use accounting information to make decisions and achieve control. Topics include an introduction to management theory and concepts, cost terminology, costing techniques, cost behavior, cost-volume-profit considerations, segment analysis, budget analysis, pricing, incremental analysis, and capital budgeting.

Grading Basis

Graded

Prerequisite Courses

ACCT& 201: Principles of Accounting I

Prerequisites

ACCT& 201

Instructor's Syllabus

Generic

Course Learning Outcomes

Accurately identify and use proper cost terminology used in business.

Distinguish and identify the issues, challenges, and problems involved in internal analysis and decision-making for business and accounting.

Solve and apply problems and concepts related to a manufacturing entity.

Apply costing models to different types of production methods.

Accurately analyze, compute, and apply problems related to cost-volume-profit analysis.

Identify budgeting principles and procedures and use budget data to analyze operating results, both for the whole organization and for segments.

Accurately use techniques to help determine the financial strength and viability of both the organization as a whole and for its various components, segments, and products.

Practice problem-solving and analysis, communicating in both oral and written form.

Successfully complete a group project and/or research report related to some aspect of managerial accounting.

Think and reason through ethical dilemmas using a framework for ethical decision-making.

Apply basic management principles and organization theory to “on-the-job”.

Core Topics

Basic management theory and principles.
Cost terminology related to a manufacturing environment.
Job-Order, Process, and Activity-Based Costing.
Cost-Volume-Profit analysis including break-even and target pricing.
Cost structure.
Variable costing.
Budgeting techniques and standard costing.
Quality Management Principles.
Ethical dilemmas and decision-making.
Segment analysis and decentralization including cost centers, return on investment, and residual income.
Product pricing, both external and internal (transfer pricing).
Differential analysis and relevant decision-making.
Capital Budgeting.