Continuation of ACC 121
. Introduction of the role of accounting information in the planning and decision-making of business organizations. Includes managerial accounting, costing of products, planning and budgeting, performance measurement, control of organizational activities, decision making, profitability analysis, statement of cash flows, and financial statement analysis. Group 2 course.
Required Prerequisites ACC 121
Recommended Prerequisites or Skills Competencies MTH 111
General Education Outcomes supported by this course
Course Learning Outcomes Knowledge:
- Utilize the components of a master and flexible budget to plan and control costs of a business.
- Describe the concepts of cost accumulation and cost behavior.
- Use analysis tools to evaluate realistic business scenarios.
- Analyze standard costs and variances to evaluate projects.
- Prepare a statement of cash flows.
- Apply ratios and other analysis techniques to make sound business decisions.
Caring - Civic Learning:
- Discover how managerial accounting differs from financial accounting and how these match their interests and abilities.
Learning How to Learn:
- Apply ethical standards that guide Certified Management Accountants to make appropriate business decisions.
- Utilize important sources of information for making business decisions.