| Course | ACG 2071 |
| Title | Managerial Accounting |
| Reference | 703997 |
| Credits | 3 |
| Description |
Managerial Accounting focuses on the accounting information needs of the various levels of internal management within an organization. Internal responsibility is directed at three major areas of management responsibility: cost determination, planning and control, and long-term decision-making.
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| Prerequisites |
ACG2001 - Principles of Accounting 1 and ACG 2011 Principles of Accounting 2 or ACG 2021 - Financial Accounting
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| Requirements |
Requires concurrent enrollment in ACG2071L at MDC's Virtual College.
All virtual college courses require high-speed access. Microsoft Office applications, such as Word, Excel and PowerPoint are standard requirements. Check the 'Technology Requirements' section of your course syllabus once the course begins. Mac users must use Firefox as the default browser for all VC courses.
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| Fees |
| Florida Resident | Distance Learning Fee | VC Course Total | | $336.66 | $45.00 | $381.66 | | | | Non Florida Resident | Distance Learning Fee | VC Course Total | | $1,189.53 | $45.00 | $1,234.53 |
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| Course Competencies |
Students will learn concepts, principles and procedures related to the following subject matters:
- To understand the different responsibilities in the reporting for financial accounting purposes and for managerial accounting purposes
- To understand the different cost accounting systems and their application to specific business structures
- To review data prepared under job order costing system and verify the cost data developed
- To prepare and analyze reports on equivalent units of production
- To diagram the flow of costs through the process cost system
- To develop financial statements using the absorption costing and direct or variable costing method
- To make analytical investigations into the relevant costs and their relationship to production levels
- To use break-even analysis, operating leverage, and other methods to determine production information
- To understand the effect of changes in cost variables on production decision
- To analyze the use of responsibility reporting on the attribution of costs to departments
- To prepare a master budget with flexible levels of production
- To prepare a master budget with flexible levels of production
- To analyze master budgets to determine the feasibility of completion of budgetary goals or adjustment of such goals
- To complete cash budget and make decisions concerning the appropriate use of excess funds
- To review the standard cost systems
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