Module 1 – Overview and Foundation of Managerial Accounting

• Explain how management accounting data are essential to the process of decision making and how business functions aid management accountants in organizing accounting information.
• Describe how management accountants support management decisions.
• Distinguish among corporate governance, professional codes of conduct, ethics, and corporate social responsibility.
• Explain cost identification, classification, behaviour and management systems and their use within the decision framework.
• Interpret cost classification appropriately when making cost management decisions.
• Apply cost information to produce an IFRS/ASPE-compliant statement of comprehensive income and a statement of financial position.
• Identify and apply the cost–volume–profit analysis, and calculate the breakeven point, a target operating profit before interest and tax, and a target net income.
• Apply the CVP model in decision making, and explain how sensitivity analyses can help managers both identify and manage risk.
• Analyze the implications of uncertainty on decision models.
• Interpret the results of CVP analyses in complex strategic, multi-product, and multiple cost-driver situations.

Learning Outcomes: 1, 2 and 7

Chapters: 1, 2, and 3

Assessments: Quiz #1 (1%), Quiz #2 (1%), Assignment #1 (2%), Assignment #2 (2%)

Module 2 – Costing Systems

• Describe the building-block concepts of costing systems.
• Distinguish job costing from process costing.
• Describe the approaches to evaluating and implementing job-costing systems and process-costing systems.
• Distinguish between actual, budgeted, and normal costing.
• Analyze the flow of costs from direct and indirect cost pools to inventory accounts, including adjustments for over- and under-allocated costs.
• Prepare relates general ledger and journal entries.
• Identify the basic elements of activity-based costing (ABC) systems.
• Identify and explain the problem of preventable over- and under-costing.
• Apply the cost hierarchy to develop an activity-based costing (ABC) system.
• Assign costs using activity-based costing (ABC).
• Explain the benefits of activity-based costing (ABC) systems for activity-based management (ABM).

Learning Outcomes: 3 and 7

Chapters: 4, 5, & 18

Assessments: Quiz #3 (1%), Quiz #4 (1%), Quiz #5(1%), Assignment #3 (2%), Assignment #4

(2%), Assignment #5 (2%)

Module 3 – Master Budget and Responsibility Accounting

• Distinguish the long-term from the short-term benefits of budgets.
• Prepare a master operating budget and all supporting budgets or schedules.
• Prepare a cash budget.
• Contrast responsibility and controllability.
• Distinguish among sensitivity analysis, Kaizen budgeting, and activity-based budgeting.

Learning Outcomes: 4 and 7

Chapter: 6 and Appendix 6A

Assessments: Quiz #6 (1%), Assignment #6 (2%)

Mid-term Exam: Modules 1, 2, and 3 (30%)

Module 4 – Planning and Control

• Distinguish between a static budget and a flexible budget.
• Develop Level 2 flexible budgets, and calculate flexible-budget and sales-volume variances.
• Develop Level 3 rate and efficiency variances for direct manufacturing costs.
• Undertake variance analysis in activity-based costing systems.
• Describe how managers use variance analysis.
• Distinguish among standards, budgets, and benchmarks.
• Distinguish between Levels 3 and 4 variance analysis for substitutable inputs, and calculate Level 4 direct mix and yield variances.
• Assign manufacturing overhead fixed costs, then calculate and analyze flexible-budget variances.
• Establish variable overhead cost allocation rates; calculate and analyze flexible-budget variances.
• Calculate activity-based cost overhead variances.
• Integrate the fixed and variable overhead cost variance analyses to reconcile the actual overhead incurred with overhead allocated.
• Analyze non-manufacturing variances.

Learning Outcomes: 5 and 7

Chapters: 7, 8, and Appendices 7A & 7B

Assessments: Quiz #7 (1%), Quiz #8 (1%), Assignment #7 (2%), Assignment #8 (2%)

Module 5 – Variable vs. Absorption costing

• Identify the factors important to choosing the denominator level used to calculate fixed overhead allocation rates.
• Explain how the choice of denominator affects capacity management, costing, pricing, and performance evaluation.
• Distinguish absorption costing from variable costing; prepare and explain the differences in operating income under each costing policy.
• Distinguish throughput costing from variable costing and absorption costing, and explain differences in operating income under each costing policy.
• Explain breakeven under each of the two costing policies.

Learning Outcomes: 3 and 7

Chapter: 9 and Appendices 9A & 9B

Assessments: Quiz #9 (1%), Assignment #9 (2%)

Module 6 – Analysis of Cost Behaviour

• Describe linear cost functions and their behaviour.
• Explain the importance of causality in estimating cost functions.
• Understand various methods of cost estimation.
• Outline the steps in estimating a cost function using quantitative analysis.
• Explain nonlinear cost functions, in particular those arising from learning curve effects.
• Describe the impact of time as a cost driver.
• Describe quality control and its implications as a cost driver.
• Understand issues of data collection and quality.
• Discuss the interpretation of regression models.
• Describe a learning curve model.

Learning Outcomes: 6, 7

Chapters: 10 and Appendices 10A & 10B

Assessments: Quiz #10 (1%), Assignment #10 (2%)

Module 7 – Data Analytic Thinking and Prediction

• Explain how management accountants can work with data to create value.
• Identify the questions management wants to ask and the relevant data.
• Explain the elements of a decision tree model.
• Describe how to refine a decision tree model to ensure the data represent the business context.
• Explain how to validate the predictions of full versus refined decision trees.
• Evaluate the predictions of different data science models to choose the best one for the business need and visualize and communicate model insights.
• Describe how to use and deploy data science models.

Learning Outcomes: 7

Chapters: 12

Assessments: Quiz #11 (1%), Assignment #11 (2%)

FINAL EXAM (Cumulative): 40%