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 behavior 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




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

MIST 2611-Management Information Systems

ENGL 1101-Composition


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: Basic Cost Management Concepts
  • Module 3: Product Costing and Cost Accumulation
  • Module 4: Process Costing and Hybrid Product-Costing Systems
  • Module 5: Activity-Based Costing and Management
  • Module 6: Activity Analysis, Cost Behaviour, and Cost Estimation
  • Module 7: Cost-Volume-Profit Analysis, Absorption, and Variable Costing
  • Module 8: Profit Planning and Activity-Based Budgeting
  • Module 9: Standard Costing and Flexible Budgeting
  • Module 10: Cost Management Tools
  • Module 11: Decision Making: Relevant Costs and Benefits

Maximum Completion

30 weeks.

Required Text and Materials

Hilton, R. W., & Favere-Marchesi, M. Managerial Accounting: Creating Value in a Dynamic Business Environment with Connect Access Card . 2nd Canadian edition. McGraw-Hill Ryerson, 2013.
Type: Textbook. ISBN 13: 9781259066467

NOTE: Students will receive a custom reprinted version of the text with the ISBN: 978-1-259-94375-1. This ISBN differs from the one above however all content is the same.

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.


In order to successfully complete this course, students must obtain at least 50% on the final mandatory examination and 50% in the overall course.

Assignment 1: Cost of Goods Manufactured 6%
Assignment 2: Process Costing 6%
Assignment 3: Activity Based Costing 6%
Assignment 4: Contribution Margin 6%
Assignment 5: Budget and Variances 8%
Assignment 6: Business Decision Making 8%
Final Exam * 60%
TOTAL 100%

* Mandatory