Module 1: Chapter 1 - An Introduction to Managerial Accounting • Differentiate between financial and managerial accounting. Ch. 2 Cost Concepts • Define and give examples of variable and fixed costs; direct and indirect costs; differential costs, opportunity costs and sunk costs; manufacturing and non-manufacturing costs; and product and period costs. • Explain how costs are classified in the financial statements of merchandising and manufacturing companies. • Prepare an income statement and a schedule of costs of goods sold. Chapter 6 Cost Behaviour: Analysis and Use • Describe the behavior of variable costs, fixed costs, and mixed costs. • Describe the high-low method of analyzing mixed costs and set up a cost equation using the high-low method. • Explain the concept of contribution margin and prepare a contribution margin income statement. Reference: Chapters 1, 2, 6 Learning Outcomes: 1, 4, 14 Evaluation: PW 1,2 and 3 (3 @ 1%), HW1 (2%) Quiz 1 (3%) Module 2: Chapter 3 System Design: Job-Order Costing - The purpose of costing systems.
• Types of costing systems. Chapter 4 Process Costing • Comparison of job-order costing and process costing. Chapter 5 Activity -Based Costing • Assigning overhead to cost objects. Reference: Chapters 3, 4, 5 Learning Outcomes: 2, 13 Evaluation: PW 4 (1%), HW 2 (2%) Quiz 2 (3%), Test 1 – Module 1 & 2 (20%) Module 3: Chapter 8 - Cost-Volume-Profit Relationships • Explain how changes in activity affect contribution margin, the CM ratio, and net income. • Compute break-even sales, and the sales needed to achieve a target profit. • Explain and compute the margin of safety. • Compute the degree of operating leverage and explain its usefulness. Chapter 7 - Budgeting • Describe a master budget and the relationships among its components. • Prepare a sales budget, including a schedule of cash collections. • Prepare a production budget, a direct materials budget, a direct labour budget, a manufacturing budget, an ending finished goods inventory budget, and a selling and administrative expense budget. • Prepare a cash budget. Chapter 11 - Standard Costs and Variance Analysis • Understand standard costing and compute standard costs. • Understand variance analysis and compute variances. • Understand management control in a standard costing environment.• • Understand static and flexible budgets References: Chapters 7, 8, 11 Learning Outcomes: 3, 4, 5, 6, 7, 8, 9, 14 Evaluation: PW 5, 6 & 7 (3 @ 1% each), HW 3 (2%) Quiz 3 (3%), Test 2 (20%) Module 4: Chapter 9 - Relevant Costs: The Key to Decision Making • Understand the relevant cost approach to decision making. • Apply the relevant cost analysis framework to an equipment replacement decision. • Apply the relevant cost analysis framework to a business addition/deletion decision. • Apply the relevant cost analysis framework to a make-or-buy (outsourcing) decision. • Apply the relevant cost analysis framework to a special-order decision. Chapter 10 - Capital Budgeting Decisions • Understand the basics of capital budgeting analysis. • Understand and apply alternative methods to analyze capital investments. References: Chapters 9, 10, Learning Outcomes: 4, 5, 10, 11, 12, 15 Evaluations: PW 8 & 9 (1% each), HW 4 (2%) Quiz 4 (3%) |