Class notes ACC 3301 Managerial Accounting
course Outline: ACC 3301 Managerial Accounting I. Introduction to Managerial Accounting A. Definition and role of managerial accounting in business B. Differences between managerial accounting and financial accounting C. Importance of managerial accounting for decision-making II. Cost Concepts and Cost Behavior A. Introduction to cost classifications B. Variable, fixed, and mixed costs C. Cost-volume-profit (CVP) analysis D. Break-even analysis and contribution margin III. Costing Systems A. Job order costing 1. Overview of job order costing 2. Calculation of job costs 3. Job costing for service and manufacturing industries B. Process costing 1. Overview of process costing 2. Calculation of equivalent units and unit costs 3. Process costing for continuous manufacturing IV. Budgeting and Forecasting A. Importance of budgets in planning and control B. Types of budgets (operating, financial, master, etc.) C. Budgeting process and preparation D. Variance analysis and corrective actions V. Performance Evaluation A. Standard costing and variance analysis 1. Setting standards and calculating variances 2. Analysis of materials, labor, and overhead variances B. Balanced scorecard approach 1. Introduction to the balanced scorecard 2. Key performance indicators (KPIs) 3. Evaluating financial and non-financial measures VI. Relevant Costs and Decision Making A. Differential analysis and relevant costs B. Make-or-buy decisions C. Pricing decisions and customer profitability analysis D. Special order decisions VII. Capital Budgeting A. Time value of money concepts B. Net present value (NPV) analysis C. Internal rate of return (IRR) analysis D. Capital budgeting techniques and decision-making VIII. Ethics in Managerial Accounting A. Ethical considerations in managerial accounting B. Ethical decision-making frameworks C. Role of ethics in business sustainability IX. Emerging Topics in Managerial Accounting A. Activity-based costing (ABC) B. Lean accounting principles C. Sustainability accounting D. Performance measurement in a digital era X. Case Studies and Application Exercises A. Analyzing and interpreting real-world managerial accounting scenarios B. Applying concepts and techniques learned in class to practical situations C. Group discussions and presentations
Document information
- Uploaded on
- July 15, 2023
- Number of pages
- 24
- Written in
- 2022/2023
- Type
- Class notes
- Professor(s)
- Wahab ali
- Contains
- All classes
