Course

Credit Type:
Course
ACE ID:
SOPH-0079
Version:
2
Organization's ID:
BUSI1011
Organization:
SOPHIA Learning, LLC
Location:
Online
Length:
The course is self-paced; learners may use as much or as little time as they need to complete the course.
Minimum Passing Score:
70
ACE Credit Recommendation Period:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Managerial Accounting
Description

Objective:

This course is designed as both a stand-alone course that is necessary to proceed into more advanced managerial accounting topics and as an advanced companion to Sophia Learning's Financial Accounting course. The course objective is to utilize extended and recurring examples to teach managerial accounting theory and practice. Students frequently refer to live spreadsheets that show calculations and formulas in action, while interactive prompts cue students to try running calculations for themselves before completing assessments. Accounting concepts are differentiated for manufacturing, merchandising, and service companies. Real world case studies are interspersed to provide further context for accounting theory.

Learning Outcomes:

  • Apply cost concepts and financial accounting concepts to managerial accounting.
  • Compare the use and analysis of the common costing systems.
  • Examine the use of accounting for quality and cost management.
  • Analyze the use of accounting information in decision-making and budget setting.

General Topics:

  • Financial vs. Managerial Accounting, Careers, and Ethics
  • Accounting Equation, Ledgers, Financial Statements, and Journal Entries
  • Cost Reporting, Production, Materials, Labor, and Overhead Costs
  • Job Order Costing
  • Plantwide and Departmental Rate Methods
  • Process Costing Analysis and Decision Making
  • Activity Based Costing Analysis and Decision Making
  • Variable and Absorption Costing Analysis and Decision Making
  • Horizontal and Vertical Analysis, Liquidity, Solvency, and Profitability Ratios
  • Direct and Indirect Methods for Cash Flows
  • Cost Behavior: Fixed, Variable, and Mixed
  • Cost-Volume-Profit Analysis, Break-Even and Target Profit Analysis, and Sales Mix Analysis
  • Master and Product Cost Budgeting
  • Standard Costing and Variance
  • Decision Making with Differential Analysis
  • Theory of Constraints
  • Methods in Capital Budgeting Analysis and Decision Making
  • Responsibility Accounting
  • Segmental Analysis
  • Dupont Analysis
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Computer Based Training
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Quizzes
Supplemental Materials
Equivalencies

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