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    Delta College
   
 
  Sep 24, 2017
 
2017-2018 
  
2017-2018
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ACC 212 - Principles of Managerial Accounting

Credits: 4
Includes a study of corporate basic theory and methodology, statement of cash flows, accounting for manufacturing operations, and accounting data as used in performance measurement, decision making, planning, and control.

Prerequisite(s): ACC 211  with a C (2.0) minimum grade
Corequisite(s): None
Lecture Hours: 60 Lab Hours: 15
Meets MTA Requirement: None
Pass/NoCredit: Yes

Outcomes and Objectives
  1. Describe the preparation and use of financial statements.
    1. Demonstrate an understanding of the interrelationship of the statement of cash flows to the income statement and balance sheet.
    2. Prepare the statement of cash flows and related financial information.
    3. Describe the elements and purpose of the statement of cash flows.
    4. Describe the expanded elements of the corporate income statement.
  2. Illustrate and analyze an entity’s liquidity, solvency, and profitability.
    1. Apply basic tools in financial statement analysis to highlight the significance of financial statement data.
    2. Practice skills to render analysis based on available business information.
    3. Present analysis results to aid in judging operating performance and financial position.
  3. Apply basic elements of managerial and manufacturing accounting for strategic decision-making.
    1. Contrast managerial and financial accounting by identifying distinguisging features of managerial accounting.
    2. Associate the broad functions of management with the role of the accountant.
    3. Describe the elements of the manufacturing income statement.
  4. Explain the purposes and characteristics of cost accounting.
    1. Describe the cost flows of a manufacturing accounting system.
    2. Differentiate the uses and users of various costing systems.
    3. Account for product costs using various costing systems.
    4. Prepare product costing information associated with related management decisions.
  5. Illustrate the significance of cost behaviors.
    1. Explain the characteristics of cost behaviors.
    2. Calculate mixed costs using associated costs and methods.
    3. Complete cost-volume-profit analysis and related decision-making.
    4. Prepare the income statement in the contribution format.
  6. Describe the planning and control process as it relates to the business environment.
    1. Demonstrate the process of effective budgeting.
    2. Describe the concept of budgetary control and responsibility accounting.
    3. Prepare performance reports presenting variances to aid in controlling operations.
    4. Compute variances in a standard costing environment.
  7. Explain tools used in the decision-making process.
    1. Display effective problem solving and decision-making skills.
    2. Associate relevant costs with decision making.
    3. Use the capital budgeting process to make effective decisions.



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