Curriculum Guideline

Financial and Managerial Accounting for Managers

Effective Date:
Course
Discontinued
No
Course Code
ACCT 3008
Descriptive
Financial and Managerial Accounting for Managers
Department
Accounting
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
201930
PLAR
Yes
Semester Length
15 Weeks
Max Class Size
35
Contact Hours
4 hours
Method Of Instruction
Lecture
Hybrid
Methods Of Instruction

Lectures, demonstrations of material, and discussions will be used, together with any appropriate technology available which may be of assistance to students.

Course Description
This course involves financial and managerial accounting with an emphasis on applying concepts for management decision-making. Financial accounting emphasizes accounting terminology, financial statements and analysis of a business entity. Managerial accounting emphasizes strategic planning, budgeting, cost-volume-profit analysis, and decision-making in a competitive environment. This course is primarily intended for non-Commerce & Business Administration program students who work (or plan to work) as owners, managers, consultants, or project leaders in either the profit or not-for-profit sectors. ACCT 3008 may not be taken for credit, if a student has obtained credit in ACCT 1110, ACCT 1210, ACCT 1235 or ACCT 2320. This course is not eligible for credit in any Accounting credential.
Course Content
  1. Overview of financial reporting, analyze and calculate adjustments and their effects on financial statements
  2. Revenue recognition and financial statement preparation        
  3. Cash, short-term investments, inventory and receivables
  4. Property, Plant and Equipment, Intangible Assets and Goodwill
  5. Current and long-term liabilities, including Time Value of Money
  6. Corporate accounting
  7. Statement of cash flows
  8. Financial statement analysis
  9. Managerial accounting in the information age
  10. Cost-volume-profit analysis
  11. Use of cost information in management decision-making
  12. Budgeting and variance analysis
  13. Capital budgeting
  14. Decentralization and performance evaluation
Learning Outcomes

The student should be able to: 

  1. account for the various classifications of assets and liabilities of a business;
  2. calculate adjustments, determine the effects of adjustments and prepare financial statements, using generally accepted accounting principles;
  3. analyze financial information to determine the financial health of the organization;
  4. understand the difference between cash flows and accounting profits (net income);
  5. develop a master budget and understand the elements of control and strategy implications;
  6. identify cost behaviour and its impact on the decision-making process;
  7. use capital budgeting techniques and evaluate and prioritize investments;
  8. understand and explain the importance of ethics and corporate social responsibility.
Means of Assessment

 

Assignment(s)/Quizzes/Tests/Cases

 

30% 

Midterm(s)

 

 35%

Final Examination

 

 35%

    100%

STUDENTS MUST WRITE BOTH THE MIDTERM(S) AND THE FINAL EXAMINATION TO OBTAIN CREDIT FOR THE COURSE. 

 

 

Textbook Materials

Burnley; Financial Accounting, latest edition, Wiley

Jiambalvo, Managerial Accounting, latest edition, Wiley

or other textbook(s) approved by the Accounting Department

Faculty of Commerce and Business Administration approved calculator.

 Instructor compiled materials (if applicable)

Prerequisites

None.

Corequisites

None

Equivalencies

None

Which Prerequisite

None