(Formerly ACC 1843) 3 credits, 3 hours Pre-requisite: ACC 101 The student will study in detail the techniques and methods of managerial accounting and become familiar with accounting for partnerships. Areas of concentration will include: cost concepts and analysis of costs, materials control, accounting for labor, the nature and application of manufacturing overhead, job order cost systems, process cost systems, cost/volume profit analysis, budgeting, and standard costing. Statement of cash flow will be covered in detail, and a comprehensive discussion on long-term liabilities and investments will be presented.

The managerial accounting course is fundamental to the business curriculum. The purpose of the course is to provide an understanding of the role of accounting information in the business decision-making process. The course is taught from the perspective of the users of accounting information. The major emphasis is on what the accounting information is, why it is important, and how it is used by economic decision makers. (ACCT 2302)