This course builds upon fundamental knowledge developed in ACCT 532 Financial Accounting. Students apply the concepts and methods of managerial accounting. Students will learn the differences between variable, fixed and mixed costs. Fundamental ethical principles of accounting as applied in real-world situations will be examined. Topics may include the business environment, cost concepts and classifications, job-order costing, process costing, cost behavior, relationships to volume and profits, variable costing, activity based costing, profit planning, standard costs, relevant costs, applications of differential cost analysis, cash flows, and economic value added.

The purpose of this course is to familiarize students with the basic differences between accounting for profit-driven entities and accounting for governmental or not-for-profit organizations. The course will help students distinguish how fund accounting for governmental entities operates, including the general fund, capital projects fund, and special revenue fund. Students may learn to identify and implement best practices in accounting within governmental or not-for-profit organizations, in keeping with the regulatory and ethical context of such practices.

Fundamentals of financial accounting concepts and procedures for analyzing economic events and the preparation and use of financial statements.

Introductory coverage of statistical methods for managerial decision-making: probability. descriptive and inferential statistics, and regression. Quantitative techniques common to many introductory statistics courses are covered, but the emphasis is on understanding concepts such as uncertainty, inferences from sample data, and model formulation, and on utilizing these techniques as aids in decision-making.