This course is designed to achieve the following objectives: (i) how today's business firms use managerial accounting to generate financial information to make financial decisions; (ii) develop an understanding of theories and practices of managerial accounting for internal decision making;
1. Identify different types of costs, their behaviors and impact on decisions that affect the operations of a business.
2. Implement job-costing and process-costing systems.
Understand cost-volume-profit relationship and its importance to break-even analysis.
Distinguish between variable costing and absorption costing.
Describe and illustrate the effects of absorption and variable costing on analyzing income from operations
Make decision regarding different alternatives.
Set-up and use flexible budgets and variance analysis.
Concepts of different budgets and budgets preparation technique
Use of the single plant wide factory overhead rate, multiple production department factory overhead rates, and activity-based costing for product costing
1. Identify different types of costs, their behaviors and impact on decisions that affect the operations of a business.
2. Implement job-costing and process-costing systems.
Understand cost-volume-profit relationship and its importance to break-even analysis.
Distinguish between variable costing and absorption costing.
Describe and illustrate the effects of absorption and variable costing on analyzing income from operations
Make decision regarding different alternatives.
Use relevant information for decision making, both for pricing and operational decisions;
Use of the single plant wide factory overhead rate, multiple production department factory overhead rates, and activity-based costing for product costing
Concepts of different budgets and budgets preparation technique
Set-up and use flexible budgets and variance analysis.