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.

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.