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15 views

Course Outline

Uploaded by

dagabas.alemu2021
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Ambo University

College of Business and Economics


Department of Accounting and Finance
Master of Business administration in Management(MBA in Management)

Course outline

Course Description:
This course deals with the conceptual and analytical issues for understanding the
techniques, nature and purposes of financial and managerial accounting and
reporting. The course will focus on the nature and role of accounting information,
systems of information processing and reporting framework, income measurement,
and asset valuation, recent developments in financial accounting. Cost
accumulation systems, cost allocation, Budgeting, standard costing, absorptions
costing, Marginal costing, cost volume -profit analysis and cost planning, and
consideration of relevant costs for decisions, and recent developments in
managerial accounting
Course objective:
After completion of this course, students will be able to understand:
issues related to financial accounting
The objectives of financial reporting.
The concept of Cost Accounting and Its importance in Managerial decision
Basic concept of Managerial Accounting and its importance in Decision making
The issues related to Performance Evaluation systems

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Course Contents:
Chapter one: Introduction to Financial Accounting
1.1. Introduction
1.2. Types of profit and not-for-profit organizations
1.3. Basic financial statements for profit organization
1.4. Accounting as an information system
1.5. Business goals, activities, and performance measure
1.6. Financial and managerial accounting
1.7. Financial accounting environment
1.8. Accounting principles for profit organizations
1.9. Ethical issues in accounting
1.10. Recent Developments in Accounting
Chapter Two: Financial Accounting and Reporting
2.1. The accounting equation
2.2. Account relationships
2.3. Accounting processing cycle
2.4. Trial balance
2.5. Financial statements from accounting equation
2.6. Income measurement and asset valuation
2.7. Ensuring the quality of financial statements
Chapter Three: Introduction to cost and Management
Accounting
3.1. Management accounting: basic framework
3.2. Accounting for manufacturing operations
3.3. Classifications of manufacturing costs
3.4. Product costs versus period costs
3.5. Product costs and the matching principle
3.6. The flow of costs parallels the flow of physical goods
3.7. Direct materials, direct labor, Manufacturing overhead
3.8. Recording overhead costs, Direct and indirect manufacturing costs
3.9. Work in process inventory, finished goods inventory, and the cost of goods
sold

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3.10. Determining the cost of finished goods manufactured

Chapter Four: Cost Volume Profit Analysis


4.1. Introduction
4.2. Cost planning and cost volume profit analysis
4.3. Break Even Analysis for single product
4.4. Break Even Analysis for Multiple products

CHAPTER Five: OPERATIONAL BUDGETING


5.1. Budgeting: the basis for planning and control
5.2. Establishing budgeted amounts
5.3. The budget period
5.4. The master budget: a package of related budgets
5.5. Budgeted income statement
5.6. Budgeted balance sheets
5.7. Flexible budgeting
CHAPTER Six: STANDARD COST SYSTEMS
6.1. Standard cost system
6.2. Variance analysis
6.3. Standard costs and variance analysis
6.4. Materials price and quantity variances
6.5. Labor rate and efficiency variances
6.6. Manufacturing overhead variances
6.7. Evaluating cost variances
Teaching & Learning Methods/strategy:
The teaching and learning methodology include lecturing, discussions, problem
solving, and analysis. Take-home assignment will be given at the end of each
chapter for submission within a week. Solution to the assignments will be given
once assignments are collected. Cases with local relevance will also be given for
each chapter for group of students to present in a class room. The full and
active participation of students is highly encouraged.
Course policies
The following mode of delivery will be applied:
 Lecture
 Group Discussion
 Individual and group assignments

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 Presentation of assignments

Assessment Mechanisms:
Continuous Assessments: ……………………………………………….. 50 %
Final Exam: ………………………………………………………………...50%
Total………………………………………………………………...……………. 100%
REFERENCES
1. Financial and Managerial Accounting: A Basis for Business Decisions-12th ed.
Jan Williams, Robert Meigs, SueHaka, Mark S.Benner, SueHaka, Robert F.
Meigs/
Textbook Hardcover / McGraw-Hill Education Group, Publish Date:June 2001.
2. Financial and Managerial Accounting-7th ed . Carl S.S. Warren, James M.
Reeve,
Philip E. Fess,Philip E. Fess,James M. Reeve/ Textbook Hardcover / South-
Western Thomson Learning, Publish Date:March 2001
3. Financial and Managerial Accounting with Powerweb: A Basis for Business
Decisions-12th ed.Jan R. Williams, SueHaka, Mark S. Benner, Robert
Meigs,Susan F. Haka, Mark S. Benner, Robert F. Meigs / Textbook Hardcover /
McGraw-Hill
Companies, June 2001
4. Financial and Managerial Accounting/Managerial Accounting: Vol. 2, 5th ed.
Belverd E. E. Needles, Henry R Anderson, Marian Powers, Sherry K. Mills /
Textbook Paperback! Houghton Mifflin Company, February 1999
5. Financial and Managerial Accounting-5th ed . Belverd E. Jr. E. Needles, H. R.
Anderson, M. Powers, S. K. Mills / Textbook Hardcover / Houghton Mifflin
Company, December 1998
6. Financial and Managerial Accounting-6th ed . Carl S.Warren, JamesM. Reeve/
Textbook Hardcover / South-Western Thomson Learning, July 1998
7. Financial and Managerial Accounting-7th ed . Carl S.Warren / Textbook
Paperback / South-Western Thomson Leartnng, July 2001
8. Financial and Managerial Accounting Carl S.Warren, Philip E. Fess,James M.
Reeve / Hardcover / Thomson Learning, May 1999

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