ACCT 205 - Managerial Accounting

3 Credit(s)

One of the most interesting and exciting challenges of business organizations is how to manage, control, and reward the best use of the company’s resources by its managers and employees to deliver great performance. This requires understanding how to measure the resources used in developing the company’s products and services. In this course, students develop a strong understanding of how a company tracks the costs of building things and serving its customers. In addition, students develop the skills necessary to measure fixed versus variable costs, analyze profitability, and figure out when things are not going according to plan. Students also sharpen their knowledge of budgeting plans for the organization and how successful organizations plan for the future. Throughout the course, students continue to hone their problem solving skills while developing an understanding of how managerial accounting helps solve several types of business problems, including financial statement analysis, long term investment decisions, break-even analysis, and ethical issues in decision making. The course shows students how to analyze modern business organizations using real-world companies and provides visual aids, including specially prepared videos, to help students substantially sharpen their analytical skills. The course also introduces students to Bloomberg Market Concepts to enhance their understanding of important concepts in financial markets using Bloomberg terminals.
Prerequisite(s): Sophomore standing, ACCT 105, or permission from the head of the Department of Accounting, Economics, and Finance.