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A study of the analysis, reporting, and use of accounting data as a management tool for planning, control, and decision-making. Specific areas of study include break-even analysis, financial statement analysis, cost classification and allocation, standard costing and variance analysis, and budgeting.
Students must pass all prerequisite courses with a grade of C or higher.
- Define managerial accounting and understand how it is used in service and merchandising companies.
- Calculate job costs, cost of goods manufactured, and cost of goods sold for multiple company types and prepare production cost reports.
- Compute operating income using variable and absorption costing methods.
- Prepare financial and operating budgets for a merchandising company.
- Compute the payback, accounting rate of return, NPV, profitability index, and IRR capital-budgeting methods, and assess the viability and benefits of various capital-budgeting projects.
- Accurately use discounted cash flow methods to make capital investment decisions.