Managerial accounting focuses on the uses of accounting data internally by managers in directing the affairs of business and nonbusiness organizations. These uses include cost concepts, systems, and procedures directed toward job order costing, the time value of money and present value analysis, cost behavior, cost allocation, short- and long-term budgeting, forecasted financial statements, the contribution approach to break-even analysis, standard costing, relevant costing, and statement of cash flows. Emphasis is placed on analysis of information and interpretation of data within the framework of a manufacturing concern. The uses of accounting information by the service industry and not-for-profit sector are also discussed. Students are introduced to the Institute of Management Accountants (IMA) Code of Professional Conduct, and related homework assignments will address ethical situations confronted by management accountants. Computer applications are used. Prerequisite: MIS 180 or IS 101.

This course focuses on the use of accounting in the development of the managerial functions of planning, controlling and decision-making. Special emphasis is given to the various processes which assist managers obtain optimum results. Students learn what kind of accounting information is needed by managers, where the information can be obtained, how to analyze the information and how to provide clear, concise and meaningful information to managers. Upon completion of this course, students should be able to: Describe the various environments in which managerial accounting functions. Describe situations where managerial and financial methodologies need to be different. Prepare a statement of Cash Flows. Analyze financial statements using comparative, trend and ratio analysis. Discuss the advantages and disadvantages of different approaches to allocations. Develop operating and capital budgets. Prepare performance evaluation reports to compare actual results to budgets.Illustrate and describe the concepts and accounting recording requirements of process and job order cost accounting systems. Prepare reports and analysis utilizing systems and techniques which enable management to perform their functions of planning, controlling and decision making.