ACC 121 Principles of Managerial Accounting

Lecture: 3 Lab: 2 Clinic: 0 Credits: 4

This course includes a greater emphasis on managerial and cost accounting skills. Emphasis is placed on managerial accounting concepts for external and internal analysis, reporting and decision-making. Upon completion, students should be able to analyze and interpret transactions relating to managerial concepts including product-costing systems.

This course has been approved for transfer under the CAA as a premajor and/or elective course requirement.

Pre-requisite(s): ACC 120 .
Course is typically offered in Fall, Spring, and Summer.
Course has transfer restrictions - 10 years

Student Learning Outcomes (SLOs)
At successful completion of the course, the student should be able to do the following:

Differentiate between financial and managerial accounting.
Distinguish between variable costs and fixed costs; product and period costs; and direct and indirect costs.
Compute costs for cost systems, including job-order costing, activity-based costing, and process costing.
Employ various cost behaviors in order to calculate costs for cost-volume-profit analysis in projections and decision-making.
Calculate cost variances.
Use relevant costs in calculations of short-term decision making, including the concepts of sunk costs and incremental costs.
Differentiate between variable costing and absorption costing.
Evaluate budgetary data.