ACT 1113 - Principles of Managerial Accounting**

3 Credits

The course introduces the fundamentals of managerial accounting and its respective communication to internal users (management). The course will also emphasize managerial costing systems, short-term decision making, budgeting, and performance evaluation.

Course Level Objectives
Upon successful completion of this course, the student will be able to:

Solve the basic accounting equation, define major categories of accounts, and prepare basic financial statements. (GEO 3)
Apply principles of job order costing (GEO 2)
Prepare and record journal entries for process costing (GEO 3)
Apply principles of manufacturing costing systems - Cost-Volume-Profit Analysis (GEO 3)
Construct budgets and evaluate company performance based on budget versus actual results (GEO 1, 2, 3, 4)
Evaluate alternatives used for short-term decision making (GEO 2, 3)

ACTS Equivalent Course Number: ACCT 2013

Latest Update Effective: Spring 2022