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Faculty
Jeffrey Douglas Gramlich, University of Southern Maine

Course Coordinator
ISUP Secretariat

Prerequisite/progression of the course

Introduction to Financial Accounting.

Course content, structure and teaching

This course addresses the field of accounting that provides economic and financial information for managers and other internal users.

• Overview of management accounting
• Job order and process costing
• Activity-based costing
• Cost-volume-profit analysis
• Budgeting

Learning Objectives

At the end of the course students should be able to:

• Distinguish between financial and managerial accounting by learning the terms, concepts, classifications, and related information used by managers.
• Recognize traditional and developing costing system designs for basic processes.
• Prepare basic, but comprehensive, budgets derived from sales forecasts.
• Compute material, labor and overhead variances from standard costs for inclusion in managerial accounting reports.
• Analyze basic cost-volume-profit relationships.

Teaching methods

The course will be lecture based. However, accounting is best learned by doing rather than by just hearing. Students will do in-class exercises and cases from the textbook to practice and master the material. To chart progress, spot learning gaps, and prepare for the final examination, non-graded in-class practice quizzes will also be administered. Students will be expected to have read the applicable material and completed the practice homework assignments before coming to class.

Examination

Final exam: 4-hour written exam (closed-book).

Exam aids: Dictionaries and calculators are permitted.

Re-take exam: 24-hour written exam.

Recommended literature

Managerial Accounting, International Student Version, by Jerry J. Weygandt, Donald E. Kieso, and Paul D. Kimmel, 4th edition (768 pages), Wiley, ISBN: 978-0-470-23400-6.

OR

Introduction to Management Accounting-Chapters 1-17: International Ediction, by Charles T. Horngren, Gary L. Sundem, William O. Stratton, Jeff Schatzberg and Dave Burgstahler, 14th edition (920 pages), Prentice Hall, ISBN: 9780132405690.

Last updated by ISUP Secretariat 17/02/2010