ACCT 2251
Management Accounting

3.0 Credits


Students develop the ability to collect, analyze, and communicate quantitative and non-quantitative information to assist management in making more effective planning and control decisions. Topics include the changing role of management accounting and basic concepts; product costing and cost accumulation; process costing and hybrid product costing systems; activity-based costing and activity-based management; activity analysis, cost behaviour and cost estimation; cost-volume profit analysis; absorption and variable costing; profit planning and activity-based budgets; standard costing and flexible budgeting; cost management tools; and decision making.

Delivery Method

Online, self-paced.

Recommended Requisites

ACCT 2211-Financial Accounting or ACCT 1211-Accounting 1 and ACCT 1221-Accounting 2

MIST 2611-Management Information Systems

ENGL 1101-Introduction to University Writing


After successfully completing this course, students will be able to:

  • Apply managerial accounting and its objectives in a way that demonstrates a clear understanding of ethical responsibilities.
  • Prepare various costing schedules where an analysis of cost classification, behaviour, and type is completed.
  • Apply and analyze different types of activity-based management tools through the preparation of estimates.
  • Analyze cost-volume-profit techniques to determine optimal managerial decisions.
  • Prepare a master budget and demonstrate an understanding of the relationship between the components.
  • Perform cost variance analysis and demonstrate the use of standard costs in flexible budgeting.
  • Outline and apply management tools and techniques such as the balanced scorecard, operational performance measures, quality, and environmental cost management.
  • Prepare analyses of various special decisions, using relevant costing and benefits.

Course Outline

  • Module 1: The Changing Role of Managerial Accounting
  • Module 2: Job-Order Versus Process Cost Accounting
  • Module 3: Activity Based Costing (ABC)
  • Module 4: Incremental Analysis & Alternative Inventory Costing Methods
  • Module 5: Pricing and Budgetary Planning
  • Module 6: Budgetary Control and Responsibility Accounting, & Standard Costs and Balanced Scorecard

Maximum Completion

30 weeks.

Required Text and Materials

Weygandt, Kimmel, Kieso and Aly. Managerial Accounting Tools for Business Decision-Making + WileyPLUS. (4th Canadian ed.). Wiley, (2015).
Type: ISBN: 9781119088912

Additional Requirements

A computer with Internet access required.

Open Learning Faculty Member Information

An Open Learning Faculty Member is available to assist students. Primary communication is through the Learning Environment's "Mail" tool or by phone. Students will receive the necessary contact information when starting the course.


To successfully complete this course, students must achieve a passing grade of 50% or higher on the overall course, and 50% or higher on the final mandatory exam.

Assignment 1 6%
Assignment 2 6%
Assignment 3 6%
Assignment 4 6%
Assignment 5 8%
Assignment 6 8%
Final Exam * 60%
TOTAL 100%

* Mandatory