ACCT& 203: Principles of Accounting III

E, SU- Students commencing this course in managerial accounting will have completed two previous courses in financial accounting (ACCT&201 and ACCT&202), whose goal is to provide useful, relevant information to users of financial statements. Managerial accounting, by contrast, is concerned with providing information to managers-the people inside an organization who direct and control its operations. Students will explore ways in which financial information for internal users is compiled, organized, and presented, and will develop a thorough understanding of manufacturing and nonmanufacturing costs; compute the cost of manufacturing a product or providing a service; and determine the behavior of costs as activity levels change. Attention will then shift to budgeting and the use of budgets and standard costs to assess performance. Additional topics include incremental analysis and capital budgeting.