Reference no: EM133153642

Course Description: A study of accounting systems as effective tools for coordinating and organizing management activities including activity based accounting, life cycle accounting, just- in-time (JIT) accounting and inventory systems, variance analysis, and capital investment decisions.

Upon completion of the course, students should be able to:

1. Understand the role of cost accounting in information for managerial decision making

2. Understand fundamental concepts and techniques of cost/managerial accounting.

3. Understand the general concepts of cost estimation.

4. Understand costing and control of materials, labor, and factory overhead.

5. Learn objectives of cost accumulation system and be able to distinguish between "periodic versus perpetual" and "actual and versus standard."Understand job order, process, and activity-based cost systems.

6. Learn accounting for joint product and by-product costing.

7. Understand and interpret variances.

8. Become familiar the budgeting process.

9. Understand the different types of budgets: operating, flexible, and capital budgets.

10. Learn the standard cost system.

11. Learn the general analysis of cost and profit

12. Use computer applications in solving cost accounting problems

13. Apply concepts to produce management reports using problem solving skill, writing and oral presentation, managerial decision making, and computer application.

Based on above outcomes. Please answer below questions in APA format with at least one reference.

Write a critical evaluation of your learning outcome. In your response, consider:

1. Your managerial accounting skills/knowledge prior to taking this class

2. Base on the course content, discuss the new skills you acquired from this class? How relevant are the new skills in your profession?

3. How would you apply your new knowledge?