ࡱ> XZW bjbj BErrz z 8 LlL$2Z./ 1111111$36J111"""R1"1"".c0` '_/110$2u/66,c06c0,;0k"";;;11l ;;;$26;;;;;;;;;z :  GROSSMONT COLLEGEPRIVATE  Official Course Outline BUSINESS 121 MANAGERIAL ACCOUNTING seq level0 \h \r0 seq level1 \h \r0 seq level2 \h \r0 seq level3 \h \r0 seq level4 \h \r0 seq level5 \h \r0 seq level6 \h \r0 seq level7 \h \r0 seq level0 \*arabic1. Course Number Course Title Semester Units Semester Hours BUS 121 Managerial Accounting 4 4 hours lecture 64-72 total hours seq level0 \*arabic2. Prerequisites A C grade or higher or Pass in Business 120 or equivalent. Corequisite None. Recommended Preparation None. seq level0 \*arabic3. Catalog Description This course introduces the student to the concepts, methods, and procedures for the development and use of accounting information to support and assist management in their internal cost accounting processes and financial decision-making. The following areas are examined: cost terms and concepts, cost behavior, cost structure, product costing in a manufacturing environment (including activity based costing), cost-volume-profit analysis, budgeting, standard costing, differential analysis, capital budgeting, variable and absorption costing, and responsibility accounting. seq level0 \*arabic4. Course Objectives The student will: Identify and illustrate the primary activities and informational needs of managers and explain the role of the managerial accountant as a member of the management team; compare and contrast financial and managerial accounting. Define and illustrate various cost terms and concepts and evaluate their relevancy for different decision-making purposes. Distinguish between product and period costs; prepare and evaluate a Schedule of Cost of Goods Manufactured, Schedule of Cost of Goods Sold, and Income Statement. Prepare traditional and contribution-margin income statements; define related terms; explain cost-volume-profit analysis, degree of operating leverage and safety margin and employ each as an analytical tool. Describe the traditional types of product costing systems (including job-order and process), illustrate the flow of costs in each, and prepare related accounting records and reports. Discuss the impact of technology on the manufacturing environment and its implications for product costs and the development of activity-based costing and management; prepare activity-based cost reports. Explain the purposes of budgeting; prepare a master budget and its component schedules and relate the budget to planning and control. Explain the development and use of standard costs, prepare and interpret variance analysis reports and relate them to responsibility accounting and control. Explain the nature of and need for segment reporting and the relationship with cost, revenue, profit, and investment centers; prepare and analyze related segment reports. Compare and contrast absorption costing and variable costing, prepare income statements using both methods, and reconcile the resulting net incomes. BUSINESS 121 MANAGERIAL ACCOUNTING Page 2 4. Course Objectives (continued) Define relevant costs and benefits, giving proper treatment to sunk costs, opportunity costs, and unit costs; prepare analyses of special decisions - accept or reject a special order; outsource a product or service; add or drop a service or product; and sell or process further a product. Explain the nature of capital expenditure decisions and apply and evaluate various methods used in making these decisions. Identify the ethical implications inherent in managerial accounting and reporting and be able to apply strategies for addressing them. 5.seq level1 \h \r0  Instructional Facilities a. Computer with Internet accessibility. b. Dry erase boards and related accessories. c. Smartcart. 6. Special Materials Required of Student a. Electronic storage media. b. Calculator. c. Computer with reliable Internet connection. 7. Course Content Decision making: relevant cost and benefits. Basic cost management concepts. Cost-volume-profit analysis. Job-order and process costing. Activity-based costing. Profit planning and budgeting. Standard costing and flexible budgeting. Responsibility accounting and segment reporting. Absorption and variable costing. Capital expenditure decisions. Ethical issues. 8.seq level1 \h \r0  Method of Instruction seq level1 \*alphabetica. Lecture, discussion, question and answer, and illustration. seq level1 \*alphabeticb. Preview of assignments and review of completed assignments. seq level1 \*alphabeticc. Assignment of case problems for group discussion and response. 9.seq level1 \h \r0  Methods of Evaluating Student Performance seq level1 \*alphabetica. Examination, including a written final, and quiz results. seq level1 \*alphabeticb. Successful completion of homework assignments and case problems. seq level1 \*alphabeticc. Progress and comprehension of course materials demonstrated through classroom participation. 10.seq level1 \h \r0  Outside Class Assignments a. Textbook readings. b. Accumulation of cost data for job order and process costing systems. c. Analyzing cost-volume-profit projections using the contribution approach. d. Compiling budget information. e. Making decisions using relevant costs. 11. Texts seq level1 \*alphabetica. Required Text(s): Wild, John J. and Shaw, Ken W., Managerial Accounting. 4th Ed. New York: McGraw-Hill, 2014. Supplementary texts and workbooks: Connect Plus to accompany the text. BUSINESS 121 MANAGERIAL ACCOUNTING Page 3 Addendum: Student Learning Outcomes Upon completion of this course, our students will be able to do the following: Categorize costs and determine relevancy in generating information for business management decision-making. 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