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May 01, 2024
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MS 358 - Managerial Cost Accounting3 lecture hours 0 lab hours 3 credits
Course Description
This course introduces students to various methods used by companies to internally allocate and report costs. Topics covered include the scheduled cost of goods manufactured, cost allocations using job order costing, process costing, activity-based costing, variable costing, cash budgeting, flexible budgeting, the use of standard costs for variance analysis and the balanced scorecard. Students are required to prepare a complex cash budget term project. (prereq: MS 356 )
Course Learning Outcomes
Upon successful completion of this course, the student will be able to:
- Understand the underlying concepts of manufacturing accounting, including five different costing methods
- Understand the costs, financial statements, budgeting process and management by objective for a small manufacturing or service business
- Knowledgeably use managerial accounting information for decision-making in manufacturing and service businesses
Prerequisites by Topic
Course Topics
- Manufacturing accounting - definitions of costs, cost of goods manufactured schedule and cost volume profit analysis
- Cost measurement - absorption costing, process costing, job order costing, activity-based costing and variable costing
- Profit-planning and budgeting including static, flexible, service department and proforma financial statements
- Tools for management by objective - variance analysis, standard costing, balanced scorecard
Coordinator
Kenneth Dobbs
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