ACCT& 203 Principles of Accounting III (5 credits)
Distribution Area Fulfilled General Transfer Elective
Formerly BUS 230 - CCN
Prerequisite ACCT& 201 with a grade of at least 2.0.
Course Description
An introduction into the field of managerial accounting. Survey of process and job order costs, budgeting, cash planning, capital budgeting, present value, and other topics.
Course Content
A. A comparison of Managerial to Financial Accounting
B. Job Order Costing
C. Activity Based Costing
D. Process Costing
E. Cost Behavior
F. Cost-Volume-Profit Relationships
G. Profit Planning
H. Standard Costs
I. Flexible Budgets
J. Overhead Analysis
K. Decentralization
L. Relevant Costs for Decision Making
M. Capital Budget Decisions
Student Outcomes
1. Identify fixed and variable and mixed costs and how their behaviors differ and develop understanding of methodology for estimating costs.
2. Differentiate between product costs and period costs manufacturing.
3. Demonstrate short-run decision-making techniques such as Cost-Volume-Profit analysis and incremental analysis.
4. Explain how traditional income statements and contribution margin income statements differ.
5. Compare and contrast process and job costing and explain their applicability to service and manufacturing businesses.
6. Construct a master budget for a service business.
7. Explain standard costing and variance analysis.
8. Differentiate between absorption costing and variable costing systems.
Degree Outcomes
Program Outcome: Use computer and related tools to perform financial reports and management reports.
Information Competency: Graduates will be able to seek, find, evaluate and use information and employ information technology to engage in lifelong learning.
Lecture Contact Hours 50
Lab Contact Hours 0
Clinical Contact Hours 0
Total Contact Hours 50
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