Managerial Case

Managerial Accounting has been designed to provide users of accounting information with the skills necessary to appraise and manage a business. The course will cover several current accounting topics to provide an understanding of how managers within an organization use accounting information in order to plan operations, control activities, and make decisions. Topics to be covered in this course include Product Costing, Cost Behavior Analysis, Budgeting and the use of relevant cost information in making alternative choice decisions for different decision-making environments.

The course will seek to emphasize how accounting acts as an information system and provides data to internal users of a corporation.

LEARNING OUTCOMES:

When you have successfully completed this course, you will be able to:

- Differentiate the financial and managerial accounting

- State the work of management in an organization.

- Recognize the importance of ethical standards issued by Union of Chambers of Certified Public Accountants of Turkey and identify ethical issues within a situation in a business environment.

- Identify costs in terms of cost behaviour (variable vs fixed costs) and relevance (opportunity costs vs sunk costs).

- Distinguish between product/manufacturing (material, labor and overhead costs) and period costs.

- Calculate and prepare schedule of cost of goods manufactured and cost of goods sold.

- Distinguish between different costing systems. e.g. Job Order Costing, Process

Costing.

- Apply decision making concepts in cost volume analysis scenarios and calculate break-even points in quantity and monetary value, margin of safety, & degree of operating leverage

- Prepare master budget through EXCEL.

- Identify and compute the types of standard costs and interpret them for decision making purpose.