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
Not Specified
PLAR
Yes
Semester Length
15 Weeks
Max Class Size
35
Contact Hours

4 hours/week

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.

Credit for ACCT 3008 is subject to the following 3 points:

(i) Students who receive credit for ACCT 3008 before successfully completing one or more of ACCT 1110, ACCT 1210, ACCT 1235, and ACCT 2320 will earn credit for ACCT 3008 and the other course(s) subsequently completed.

(ii) Students who have already received credit for ACCT 1110, ACCT 1210, ACCT 1235, or ACCT 2320 cannot take ACCT 3008 for further credit in any accounting programs.

(iii) Students who take ACCT 3008 in the same term as one or more of ACCT 1110, ACCT 1210, ACCT 1235, or ACCT 2320 will not be granted credit for ACCT 3008 in any accounting programs.
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. 

To pass this course, students must obtain a minimum of 50% on invigilated assessments, with the 50% calculated on a weighted average basis.

Invigilated assessments include, in-class quizzes, in-class tests, midterm exam(s) and the final exam.

 

 

Textbook Materials

Burnley; Financial Accounting, latest edition, Wiley

Jiambalvo, Managerial Accounting, latest edition, Wiley

or other textbook(s) approved by the Accounting Department, and instructor compiled materials (if applicable)

Faculty of Commerce and Business Administration approved calculator.

 

Prerequisites

None

Corequisites

None

Equivalencies

None

Which Prerequisite

None