The content, assignments, and assessments for Managerial Accounting are aligned to the following learning outcomes. A full list of course learning outcomes can be viewed here: Managerial Accounting Learning Outcomes.
Module 1: Understand the nature of managerial accounting
- Define Managerial Accounting
- Assign costs to common cost categories
- Describe the flow of manufacturing costs
Module 2: Perform a cost-volume-profit analysis
- Create a cost-volume-profit model
- Use the contribution margin model for cost-volume-profit analysis
- Distinguish between variable costing and full absorption costing
Module 3: Describe standard cost systems and compute variances
- Identify the objectives of a standard cost system
- Identify Direct Cost Standards and Variances
- Identify Indirect Cost Standards and Variances
Module 4: Allocate manufacturing overhead to cost objects
- Allocate manufacturing overhead using a single rate and a single base
- Allocate manufacturing overhead using multiple allocation bases and rates
- Allocate manufacturing overhead using Activity-Based Costing (ABC)
Module 5: Explain job order costing and allocate overhead using job order costing
- Understand the characteristics of job order costing
- Assign costs to jobs
- Account for completed jobs
Module 6: Explain process costing and assign costs using process costing
- Understand the characteristics of process costing
- Assign costs to various stages of production
- Account for costs assigned to each process
Module 7: Describe and prepare budgets for operations
- Identify objectives, procedures, and limitations of budgeting
- Prepare an operating budget
- Prepare a financial budget for a manufacturing company
- Prepare a flexible budget
Module 8: Describe factors that influence short-term decision making
- Identify relevant information for short-term decision making
- Establish a price for products and services
- Decide which products to produce and sell
- Understand the cost and benefits of outsourcing
Module 9: Analyze capital investment alternatives
- Describe the capital budgeting process
- Identify the essential elements of a capital budgeting decision
- Use basic capital budgeting tools to analyze investment options
- Use time value of money to analyze investment options
Module 10: Describe responsibility accounting
- Understand the issues involved in managing decentralized operations
- Compare and contrast cost, profit, revenue, and investment centers
- Understand how managers direct and control decentralized operations
