BUS 2202 Principles of Accounting II

Description

Principles of Accounting II develops accounting as a planning, analysis, and control tool facilitating the decision-making process of management. The course examines cost and managerial accounting principles and practices, including cost accounting, budgeting, performance measurement, and cost-volume- profit analysis.

Credits

4

Prerequisite

BUS 2201

Corequisite

None

Topics to be Covered

1. Managerial accounting concepts

2. Job order and process cost accounting

3. Transfer pricing

4. Cost-Volume-Profit analysis

5. Master Budget and flexible budgets

6. Standard costing

7. Performance measurements

8. Capital Budgeting

Learning Outcomes

1. Understand the differences between managerial and financial accounting.

2. Understand the different elements of cost in business organizations; cost behavior; inventory cost flow including cost of goods manufactured and cost of goods sold; and how costs are used in planning, control and decision making.

3. Apply traditional and contribution-margin income statements; analyze cost-volume- profit relationships to support managerial planning and control.

4. Analyze costing systems including job-order costing; activity-based costing and process costing.

5. Understand the purposes of budgeting and the master budget, prepare component budget schedules and relate the budget to planning and control to support management decision making.

6. Understand the development and use of standard costs and variance analysis reports; analyze them in support of responsibility accounting and cost management.

7. Analyze various special decisions using relevant costs and benefits analysis to support decision making and analyze short-term and long-term implications.

8. Apply management performance evaluation tools such as the balanced scorecard, operational performance measures and quality measures.

9. Understand management’s decision making process as it relates to product pricing.

10. Apply the concepts of responsibility accounting and decentralization.

11. Apply the concepts of capital budgeting and the concepts underlying strategic capital investment decisions. Apply the concepts of capital budgeting and the concepts underlying strategic capital investment decisions.

Credit Details

Lecture: 4

Lab: 0

OJT: 0

MnTC Goal Area(s): None

Transfer Pathway Competencies

1. Analyze managerial accounting concepts

2. Determine costs using job order and process costing

3. Construct cost-volume-profit of a business

4. Create performance measurements and responsibility accounting