ACCT 2251: Management Accounting
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.
Learning outcomes
- 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 topics
- 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
Required text and materials
The following materials are required for this course:
- Weygandt, J.J., Kimmel, P.D., Kieso, D.E., and Aly, I.M. (2021). Managerial accounting:
Tools for business decision-making (6th Canadian ed.). Toronto, ON: Wiley.
Type: Loose-Leaf Textbook: ISBN: 978-1-119-73181-8
Assessments
Please be aware that should your course have a final exam, you are responsible for the fee to the online proctoring service, ProctorU, or to the in-person approved Testing Centre. Please contact exams@tru.ca with any questions about this.
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: Role of Managerial Accounting | 8% |
| Assignment 2: Job Order & Process Costing | 8% |
| Assignment 3: Activity Based Costing | 8% |
| Assignment 4: Incremental Analysis & Inventory Costing Methods | 8% |
| Assignment 5: Pricing Products & Budgetary Planning | 9% |
| Assignment 6: Budgetary Control & Balaced Scorecards | 9% |
| Final Exam (mandatory) | 50% |
| Total | 100% |
Open Learning Faculty Member Information
An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.
