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 Methods

Online, self-paced.

Recommended Requisites

ACCT 1211: Accounting 1


ACCT 1221: Accounting 2


ACCT 2211: Financial Accounting

ENGL 1101: Introduction to University Writing

MIST 2611: Management Information Systems


ACCT 1010-Management Accounting

ACCT 2250: Management Accounting

BBUS 2540: Management Accounting

BBUS 2451: Management Accounting


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

Course Duration

30 weeks.

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: 9781119410539

Additional Requirements

A computer with Internet access required.

Open Learning Faculty Member

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: 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 * 60%
TOTAL 100%