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Accounting 212

ACTG 212: Fundamentals of Managerial Accounting

Prerequisite: ACTG 211

Credit Hours: (3)

Comprehensive introduction to the fundamental principles and procedures of accounting for managerial decision making, planning, control and performance evaluation.

Note(s): General Education and Applied Learning designated course. ACTG 212 is a business core requirement.

Detailed Description of Content of Course

1. Introduction.
   A. Accounting and organizational foundations of managerial accounting.
   B. Historical prospecting of managerial accounting.
   C. Managerial accounting in competitive environment.
   D. Managerial accounting in a global environment.
   E. Costs concepts and how costs behave.
   F. Managerial accounting and small scale organizations.
2. Applications of managerial accounting.
   A. Cost-volume-Profit relationships, contribution reporting for internal performance evaluation, responsibility accounting.
   B. Profit planning and control, flexible budgets, control through standard costs. Budgeting in non-profit organizations, capital budgeting.
   C. Activity-based costing (ABC), and activity-based management, (ABM), strategic cost management.
   D. The pricing of goods and services, differential analysis for decision making.
   E. Contemporary issues in managerial accounting, special applications to small and medium size organizations.

Detailed Descriptions of Conduct of Course

The traditional lecture format will be supplemented with:
   1. Group case analysis/discussion and presentation.
   2. Oral and written communication assignments outside of the traditional problem/exercise based homework.
   3. The use of spreadsheets.

Goals and Objectives of the Course
This course is designated as L (Applied Learning) Area and fulfills the learning goal: To explore professional practice through the application of knowledge, skills, and critical reflection. Students will fulfill the learning outcomes in this area: apply acquired knowledge and skills to develop professional identity or professional practice and critically reflect on their learning, abilities, experiences, or role within professional contexts. This course may be applied to the REAL Studies Minor Applied Learning.

Upon successful completion of this course, student should be able to:
A. Recognize the decision usefulness of managerial accounting data.
B. Identify and use an assortment of cost constructs.
C. Analyze the behavior (variable, fixed, and mixed) of costs.
D. Interpret performance reports based on managerial accounting data.
E. Identify other terminology relevant to managerial accounting, including the emerging themes affecting the managerial accounting environment.

Assessment Measures

Graded assignments would include in-class tests, written analysis and presentation of cases/problems, oral group presentation of cases/problems, quizzes, and other projects which may be assigned.

Other course Information

Emphasis in the course will be on applying accounting principles and concepts in the role of decision makers inside the firm (e.g., management).

Review and approval

Date Action Reviewed by
February 2010
March 27, 2012 Revised

March 01, 2021