Cost and Management Accounting

Learning Outcomes

Upon successful completion of this course, students are expected to be able to Describe the work of management and the need for managerial accounting information, Classify costs for predicting cost behavior, assigning costs to cost objects, and decision making, Distinguish between process costing and job-order costing and illustrate the flow of costs in each costing system, Describe the interrelationships among cost, volume, and profit, Explain the importance of budgeting and practice the relevant budgets making, Analyze budget variances and relate them with company performance measurement, Implement various performance measurement tools and practice using relevant costs to make decisions, Analyze different costs for different purposes and practice using relevant costs to make decisions.

Topics

This course deals with planning, controlling, as well as costing product, services, and customers. It focuses on management accountant issue such as assisting managers to make better decision throughout the concept of “different cost for different purposes”. By focusing on basic concepts, analyses, uses, and procedures, instead of procedures alone, it can be recognized that cost and management accounting as a managerial tool for business strategy and implementation. This course gives the non-accounting students the analytical and problem-solving skills such as excel to leverage available information technology. This course is for non-accounting students.

Prerequisite: AC101 – Introduction to Financial Accounting