Managerial Accounting II
This is the second of three semester courses in cost/managerial accounting offered to students in the Business Administration Accounting option. Students should already have a basic understanding of cost accounting terminology, job and process costing, variable and fixed cost behaviour as well as contribution format and manufacturing income statements. Emphasis in this second course is on the use of cost information for planning and controlling day-to-day operations of an organization. Students learn how to create a basic master budget and then how to use the budget as a means to evaluate and improve performance. This is accomplished through flexible budgets, standard costs, and variance analysis. Also included in the course is cost-volume - profit relationships, a comparison of direct costing versus absorption costing, and segmented income statements. Although the course focuses on the preparation of cost data, wherever possible the orientation will be toward the use of such data in decision making. Emphasis will be placed on the human behaviour implications of budgeting and performance evaluation. For ALL students NOT enrolled through Continuous Learning:This course involves mandatory use of a laptop computer in the classroom. The use of the computer will be integrated into this course.