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ACCT212 - Managerial Accounting: Strategic Cost Management and Control

Managerial accounting refers to the preparation and use of information for internal planning, control, coordination, and performance evaluation purposes. This orientation contrasts with financial accounting where the focus is on accounting disclosures for parties external to the firm. The majority of the course covers the vocabulary and mechanics of cost accounting, issues involved in the design of an internal accounting system, and the role of accounting in decisions concerning resource allocation and performance measurement. Included in this are discussions of capacity costs, inter-departmental allocations, and activity-based management in manufacturing and service environments. We will pay particular attention to the trade-offs embedded in the choice of internal accounting systems, as well ways in which to attenuate the problems created by these trade-offs. GERs: None

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