Learning Outcomes

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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