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Lake Washington Institute of Technology    
 
    
 
  Jan 22, 2018
 
Catalog 2017-2018

ACCT 301 Managerial Accounting

5 credits
This course will focus on accounting concepts and applications that will help managers identify, measure, analyze, and communicate information about their departments’ operations and profitability from a variety of aspects, thus helping managers make informed decisions about their departments.

Prerequisites: Admission to the BASTLM program or instructor permission.

Quarters Offered: Winter

Student Outcomes/Competencies:
Upon successful completion of this course students will be able to:

  • Explain the purpose of managerial accounting and its benefits.
  • Describe the operations of the company and how those operations are represented in the financial statements.
  • Analyze important cost related-concepts and the components, along with cost drivers, activities that directly trace resource costs to products, and opportunities to reduce costs.
  • Analyze how cost information supports important management activities.
  • Analyze and interpret variances between actual results and budgets, and explain how they relate to the operations of the company.
  • Explain how to measure customer profitability and assigning costs to customers.
  • Develop capital and operational budgets and forecasts.
  • Design reports to analyze if the company’s goals are being accomplished and to measure the efficiency of internal processes.
  • Analyze the strategic planning process and how that applies to the company’s operations and employees.