COMM 294 - Managerial Accounting
COMM 294 is an introductory course that provides the fundamental concepts of managerial accounting. Unlike financial reporting, which focuses on presenting information to outside financial reports users, managerial accounting is mainly focusing on providing information to internal management to make better production/manufacturing decisions. The course covers basic concepts and ideas on cost system design, cost behavior, cost-volume profit relationships, budgeting, variance analysis, and decision making. Students who like to learn more about cost accounting and managerial accounting can take COMM 354 and COMM 454 in the future.
Upon successful completion of this course, students will have the knowledge and skills to:
- understand different cost concepts.
- know how costs are allocated to products or services depending on the underlying cost driver.
- use information to analyze cost variation, and to make better business decisions.
- develop their problem-solving skills and apply their knowledge and understanding of managerial accounting to solve real world problems.
Prerequisite: COMM 293.