Management Accounting 1 ACCT-222

Course Name:	Management Accounting 1
Course Number:	ACCT-222
Category:	Accounting
Description	In Management Accounting 1, you will examine managerial accounting topics related to cost concepts and the cost of goods manufactured schedule. Through lectures and class discussions that focus on problem solving, you will learn about job order costing, process costing, activity based costing, master budgets, flexible budgets and variance analysis. Quizzes, online assignments, a mid-term and a final exam will test your competency of Management Accounting 1 topics. As a student of this course, you will gain the ability to: •Identify the role of the management accountant in an organization, and the major purposes of management accounting systems; •Apply the basic cost concepts in the preparation of the schedule of cost of goods manufactured; •Identify the key characteristics of each costing system, including supporting documentation; •Prepare a job order costing sheet, including the application of manufacturing overhead; •Determine under and/or over applied manufacturing overhead, including disposition; •Prepare a process costing production report under the average and FIFO methods; •Prepare master and flexible budgets; •Explain standard costing, including responsibility accounting, variance analysis and management control.
Associated Programs	2308 - Business (Online) 7278 - Business Management - Marketing
Pre-requisities	Requires the following prerequisite(s): ACCT-112 - Financial Accounting 1 Or permission of department