Managerial Accounting - ACO 311

Managerial accounting is a company's internal language, and is used for decision-making, production management, product design and pricing and for motivating and evaluating employees’ performance. Thus, this course covers the use, interpretation, and analysis of management accounting information for management decision-making, planning and control of operations.
Planning is covered by topics including activity-based costing, budgeting, flexible budgeting, cost-volume-profit analysis, cost estimating, and the costs of outsourcing. Control is covered by topics including standard costing, variance analysis, and performance evaluation. Emphasis is placed on cost terminology, cost behavior, cost systems, and the limitations concerning the use of average costs. Prerequisite: ACO 201