ACC425 - Managerial Accounting

Outline information
Semester
Schools offering this subject
Last revision date Sep 24, 2018 12:09:12 AM
Last review date Dec 3, 2018 12:15:31 AM

Subject Title
Managerial Accounting

Subject Description
This is an introductory course which will present the main concepts and practices of management accounting. The subject will outline the methods that are available to managers for managing, planning, and controlling. Particular attention will be paid to such topics as cost accounting fundamentals, job costing, cost-volume-profit analysis, budgeting, and variance analysis.

Credit Status
One Credit towards the Accounting Diploma Program.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Describe the role of a manager in an organization.

2. Describe the information needs of different types of organizations.

3. Explain the basic components of cost as it is used in accounting and outline the components of full cost.

4. Utilize cost concepts to determine selling price, to establish target sales levels, and to plan profits.

5. Explain relevant cost, sunk costs, and opportunity costs, and demonstrate their use in decision making.

6. Prepare job-order cost flow and all related accounting journal entries.

7. Prepare a master budget with all supporting schedules and explain the planning aspects of budgeting.

8. Utilize activity-based costing systems.

9. Record the cost flow through a standard cost system and calculate the variances.

10. Prepare effective management accounting related reports.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecacollege.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.