Principles Of Accounting II (Managerial Accounting)

The course continues the study of financial accounting concepts with emphasis on the corporate structure, and introduces managerial accounting concepts, emphasizing introductory cost analysis and decision-making.

PREREQUISITE: ACC2111

UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:

• Defining the basic concepts of managerial accounting.
• Understanding the process for preparing a budget.
• Identifying cost accounting concept and terms used in assisting management in efficient operations.
• Computing basic time value of money problems.
• Demonstrating the use of operational and financial budgeting concepts.
• Computing basic ratios.
• Classifying the sources and uses of cash used for creating a statement of cash flows.
• Recognizing the purposes and principles used in absorption and variable costing.
• Reviewing production process procedures for process costing, job costing, and activity based costing.
• Accounting for the flow of material through the production process.
• Summarizing the process for creating a capital budget and making capital decisions.
• Preparing basic cost volume profit analysis.