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

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 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

  • Weygandt, J.J., Kimmel, P.D., Kieso, D.E., and Aly, I.M. (2017). Managerial Accounting Tools for Business Decision-Making + WileyPLUS (5th Canadian ed.). Toronto, ON: Wiley.
    Type: Loose-Leaf Textbook: ISBN: 978-1-119-50279

Assessments

Please be aware that due to COVID-19 safety guidelines all in-person exams have been suspended. As such, all final exams are currently being delivered through ProctorU, which has an approximate fee of $35 involved. There will be more information in your course shell, on how to apply, if your course has a final exam.

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 6%
Assignment 2: Job Order & Process Costing 6%
Assignment 3: Activity Bases Costing 6%
Assignment 4: Incremental Analysis & Inventory Costing Methods 6%
Assignment 5: Pricing Products & Budgetary Planning 8%
Assignment 6: Budgetary Control & Balaced Scorecards 8%
Final Exam (mandatory) 60%
TOTAL 100%

Open Learning Faculty Member

An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of your course.

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