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ACCT601

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Department: Accounting Program: MBA

Course Name: Financial and Managerial Accounting Course Code: ACCT 601
Pre-requisite: Not Applicable Credit Hours: 3

Brief Description

This course teaches students how to demonstrate the financial accounting framework, the
accounting cycle, how to prepare and analyze financial statements, and how to extract and
modify costs in order to make informed managerial decisions. In addition, the course provides
an overview of theoretical and practical managerial accounting information. Planning is covered
through important topics such as job order cost systems and overhead allocations, process
costing, operational budgeting, standard cost systems and cost-volume-profit analysis.

Course Objectives

After completion of this course the student will be able to:


 Discuss the financial accounting framework and the accounting cycle.
 Illustrate how to prepare and analyze financial statements.
 Describe concepts and tools of managerial accounting needed in all the different
managerial levels in an organization.
 Analyze and interpret both historical (real) and future (predicted) data used by
management to conduct daily operations and plan future operations.
 Demonstrate improvement in oral communication skills through class involvement.
 Participate actively and effectively in critical thinking in order to deal with developing
future rational decisions

Course Learning Outcomes

 Distinguish between concepts, principles, and theories of accounting


 Apply the concepts, principles, and theories in different accounting situations
 Demonstrate written communication skills
 Have scientific research skills in the field of accounting
 Have the skills of critical thinking and analyse accounting situations
 Have the skills in strategic thinking and finding solutions in accounting
 Have the ability to distinguish between ethical issues in accounting

Course Topics

 Accounting: Information for Decision Making


 Basic Financial Statements
 The Accounting Cycle: Capturing Economic Events
 The Accounting Cycle: Accruals and Deferrals
 The Accounting Cycle: Reporting Financial Results
 Statement of Cash Flows
 Financial Statement Analysis
 Management Accounting: A Business Partner
 Cost-Volume-Profit Analysis
 Responsibility Accounting and Transferring Pricing
 Rewarding Business Performance

Text Book

Williams, J. R., Haka, S. F., Bettner, M. S., & Carcello, J. V. (2020). Financial and Managerial
Accounting. New York, NY: Mc Graw-Hill Irwin.

Additional References

 Atkinson, Kaplan, Matsumura and Young (2012). Management Accounting


Information for Decision-Making and Strategy Execution. 6th edition. International
edition, Pearson Publishing.
 Garrison, Noreen and Brewer. (2010). Managerial Accounting. 13th edition.
McGraw-Hill Irwin Publishing.
 Hilton, R. W. (2009). Managerial Accounting: Creating Value in a Dynamic Business
Environment. McGraw-Hill Irwin: New York, NY. 140, 141.
 Weygandt J. J., Kimmel, P. D., & Kieso, D. E. (2008). Managerial Accounting: Tools
for Business Decision Making. John Wiley & Sons, Inc: Hoboken, NJ. 105.
 Horngren, C. T., Datar, S. M., Foster, Madhav, G., Rajan, V., & Ittner, C. (2009). Cost
Accounting: A Managerial Emphasis. Pearson Prentice Hall: Upper Saddle River, NJ.
640.

Online Resources

 Bloomberg Terminal.
 Academic databases available through the University’s Library website.

Course Outline
Week Hours Topics Remarks
1 3 Course introduction
2 3 Accounting: Information for Decision Making, discuss exercises
and cases
3 3 The Accounting Cycle: Capturing Economic Events, discuss
exercises and cases
4 3 The Accounting Cycle: Accruals and Deferrals, discuss exercises
and cases
5 3 Statement of Cash Flows, discuss exercises and cases
6 3 Financial Statement Analysis, discuss exercises and cases
7 3 Financial Statement Analysis, discuss exercises and cases
8 3 Midterm
9 3 Management Accounting: A Business Partner, discuss exercises
and cases
10 3 Management Accounting: A Business Partner, discuss exercises
and cases
11 3 Cost-Volume-Profit Analysis, discuss exercises and cases
12 3 Cost-Volume-Profit Analysis, discuss exercises and cases
13 3 Responsibility Accounting and Transfer Pricing, discuss
exercises and cases
14 3 Rewarding Business Performance, discuss exercises and cases
15 3 Presentation

Measurement and Assessment Tools


Knowledge Skills Values
Assessment Tools Grade Week Identify & Written Research Critical Ethics
apply Thinking
Midterm Exam 25 9 X
Case Study 10 12 X X X X
Project 25 15 X X X X
Final Exam 40 16 X
Total 100

Approved by Department Chair Date of Approval

Additional Information: Updated every Semester by Course Instructor


Course Instructor
Department
Phone No.
Extension No
Email
Office Hours

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