Managerial Accounting I
This is the first of three semester courses in cost/managerial accounting offered to students in the Business Administration accounting option. No prior knowledge of cost accounting is assumed, however students will have passed a basic financial accounting course. Emphasis in this beginning semester is on fundamental cost concepts and terminology. Students learn how to prepare statements for manufacturers, including the Cost of Goods Manufactured. It introduces job order and process costing methods. It also introduces activity based costing. Finally, the preparation and differences between variable and fixed costs, and preparation of contribution format income statements are introduced. This course focuses on the preparation of cost accounting data. The use of such data in decision-making is explained whenever possible. For ALL students NOT enrolled through Continuous Learning: This course involves the mandatory use of a laptop computer in the classroom. The use of the computer will be integrated into this course.