MGMT 310: Accounting for Managers

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Class Program
Bachelor of Applied Science-Applied Management
Credits 5 Lecture Hours 55 Lab Hours 0
This course covers the basic principles of financial and managerial accounting, including analyzing balance sheets, income statements, cash flow statements, financial analysis, and budgetary control systems. This course reviews accounting practices and how they are used to help managers make sound business decisions.

Prerequisites

Bachelor of Applied Science - Applied Management program admission.
Course Outcomes

Upon successful completion of the course, students should be able to demonstrate the following knowledge or skills:

  1. Compare financial accounting and managerial accounting in terms of audience, reporting, time frame, and use of information.
  2. Assess and compare the values and limitations of financial and managerial accounting.
  3. Describe the accounting cycle and identify specific debits and credits, journals, t-accounts, a trial balance, and resulting financial statements.
  4. Describe the types of business transactions that are included in operating, investing, and financing activities on the statement of cash flows; prepare a statement of cash flows.
  5. Produce financial and managerial accounting reports.
  6. Calculate cost information and use it to support operating and strategic decisions regarding products, customers, and long-term assets.
  7. Accurately analyze and report the current state/trends of business activity.
  8. Build the necessary statements, reports, and analyses required to support managerial planning, controlling, and decision making.
  9. Interpret time value of money calculations to make capital budgeting decisions.
  10. Create forecasts to drive proposals and organizational action.
  11. Assess the differences between strategic, performance, and risk management analysis.
  12. Defend the importance of the balanced scorecard and corporate responsibility.
  13. Describe why managerial accounting requires a cross-functional team.
Institutional Outcomes
IO2: Computation: Analyze the financial health of a business by interpreting business data obtained from financial statements.
Course Content Outline
  1. Module 1
    Introductory Information
    Differences between Financial and Managerial Accounting
    1. Report Users
      1. External/Internal
      2. Departmental Modification
    2. Types of Reports
    3. Frequency of Reports
    4. Purpose and Benefits
    5. Focus
    6. Nature (Monetary, Nonmonetary)
    7. Verification/Audit Process
  2. Module 2
    Financial Accounting
    1. Income Statements
    2. Balance Sheets
    3. Cash Flow Statements
    4. Statement of Retained Earnings
  3. Module 3
    Managerial Accounting – Analyzing Data
    1. Margins Analysis
    2. Constraint Analysis
    3. Capital Budgeting, Investing, and Control
    4. Cash Flow Analysis
  4. Module 4
    Managerial Accounting – Valuation & Costing
    1. Inventory Valuation and Product/Project/Process Costing
    2. Trend Analysis and Forecasting
      1. Strategic Management – Accounting-Based
      2. Performance Management
        1. Financial
        2. Activity/Process
      3. Risk Management
    3. Balanced Scorecard/Corporate Social Responsibility
    4. Differential Analysis/Decision Making/Planning
  5. Module 5
    Final Project/Presentation – Collaborative work with peers and other academic departments to use simulated data to create a proposal.
Department Guidelines

The class syllabus must contain all elements as described in the Syllabus Checklist. A class schedule must be provided to students that contains content covered (text chapters, topics, etc.) and tentative test/project dates (to include final date/time). The work in this course will be primarily project-based.

BAS-AM Writing Standard:

Students will design documents and present information according to industry standards and/or the APA style guide, honor academic honesty as outlined in the Student Code of Conduct, and model integrity as expressed in the College’s Guiding Principles.