MANAGERIAL ACCOUNTING

Students are introduced to the basic concepts and techniques of managerial accounting. This includes the preparation of a master budget, the recording of costs using a variety of methods (Job-order, Process costing and Activity-based costing), and cost-volume-profit analysis. Standard costing techniques and managerial reports are also discussed. Prerequisite: Financial Accounting(KIC)

1. Understand the role of managerial accounting in decision-making processes. 2. Analyze cost behavior and its implications for managerial decision-making. 3. Apply various costing methods to product and service costing. 4. Utilize budgeting techniques for planning and control purposes. 5. Perform variance analysis to evaluate performance and identify areas for improvement. 6. Apply relevant costing techniques to make short-term and long-term decisions.

Don't be late. If you arrive later than 15 minutes after class begins, please do not enter the classroom. Please do not walk in and out during the class time Telephone calls and SMS are strictly prohibited. In case of emergency, you can just ask my permission to do so outside. You can bring a calculator and an exercise book to understand the procedures easily. Please actively participate and ask if you did not understand anything. If you miss a class, it is your responsibility to acquire materials and catch up with your friends. Certainly, you can visit my office to ask for clarifications.

Depending on class size, students may be required to present their assignments orally.

Students taking this course should have some accounting background. Courses such as Basic Accounting and Financial Accounting could help in this regard.

In addition to understanding the role of cost accounting in a business, students will be able to develop skills related to the preparation and use of internally generated information. Furthermore, the students will be able to develop different decision-making skills by answering different real-world questions such as: what the price of a product should be? how to minimize costs? whether to open a new store or drop an existing store? at what level of the production process should a product be sold? how should a firm use its constrained resources?...