ACCT 121 - Intro to Management Accounting

Credit(s): 3
3 hours lecture, 3 hours contact
Prerequisite(s): ACCT 120
This course equips business honors students with the knowledge and skills to utilize financial information for strategic planning, control, and decision-making within organizations. Emphasizing the importance of opportunity costs and organizational architecture, students will explore how these concepts form the foundation of effective managerial accounting systems.
Key topics include cost accounting systems, cost-volume-profit analysis, incremental and relevant cost information, budgeting, responsibility accounting, and cash flow. Students will also engage in a critical examination of different managerial accounting theories, assessing their strengths and limitations in various organizational contexts. The course will cover advanced concepts such as transfer pricing, standard costs, and variance analysis, providing a comprehensive understanding of how these tools are used to drive organizational performance.