Introduction to Managerial Accounting

Course Code:
ACG 2071

Credit Hours:

Effective beginning:



Course Description:
This is an introductory course in managerial accounting which emphasizes the use of accounting data with respect to planning operations, controlling activities and the decision making responsibilities of managers.

Course Details


A grade of ā€œCā€ or better in ACG 2021 or consent of department.


Sherry Klanjac, CPA


Required textbooks/ course materials:

Financial and Managerial Accounting, 15th, Warren/Reeve/Duchac, Cengage Publishing, 2019. ISBN:9781337902663.

Cengage Unlimited:

  • 1-semester subscription: ISBN 9780357700006
  • 1-year subscription: ISBN 9780357700013
  • 2-year subscription: ISBN 9780357700020





Assignment/course outline:

The following topics will be covered in this course at the discretion of the instructor:

  • Managerial Accounting: An Overview
  • Managerial Accounting and Cost Concepts
  • Cost-Volume-Profit Relationships
  • Job-Order Costing
  • Process Costing
  • Variable Costing and Segment Reporting: Tolls for Management
  • Activity-Based Costing: A tool to Aid Decision Making
  • Master Budgeting
  • Flexible Budgets and Performance Analysis
  • Standard Costs and Variances
  • Performance Measurement in Decentralized Organizations
  • Differential Analysis: The Key to Decision Making
  • Capital Budgeting Decisions


Discipline-level learning outcomes:

Associates degree in Business Administration Learning Outcomes:

B-1 Demonstrate knowledge of the principles, practices and supervisory responsibilities of management, and ethical and legal issues in a business environment.

B-2 Apply general business workplace competencies, including employability skills and office computer skills.

B-3 Understand business concepts, such as accounting, HR, marketing and organization.

B-4 Communicate effectively in oral and written form, exhibit college level computation and problem-solving skills, and interact appropriately with people of other cultures or backgrounds.


Course-level learning outcomes:

Course-level Student Learning OutcomesDiscipline-level learning outcomesAssessment Methods

Synthesize the role of managerial accounting in a business and how it differs from financial accounting

B-1, B-3, B-4

Homework, tests, quizzes
Formulate product cost in a manufacturing environment under a job order system

B-1, B-3, B-4

Homework, tests, quizzes
Evaluate product cost in a manufacturing environment under a process cost system

B-1, B-3, B-4

Homework, tests, quizzes

Synthesize cost behaviors:

  • Fixed cost
  • Variable cost
  • Mixed cost

B-1, B-3, B-4

Homework, tests, quizzes
Contrast the differences in income when Absorption costing is used rather than Variable (direct) costing and explain why differences exist

B-1, B-3, B-4

Homework, tests, quizzes
Evaluate the budgeting process in a Manufacturing process and the importance of the cash budget

B-1, B-3, B-4

Homework, tests, quizzes
Propose the use of standard costing systems with price and quantity variances for: labor, materials, and overhead

B-1, B-3, B-4

Homework, tests, quizzes
Evaluate Economic Order Quantity (EOC), Capital Budgeting, and the use of Ratio and Trend Analysis to interpret financial statements

B-1, B-3, B-4

Homework, tests, quizzes



Means of accomplishing learning outcomes:

  1. Attend and participate in class regularly.
  2. Read all assigned material before class.
  3. Study in-class notes and online (Canvas) materials.
  4. Complete assigned projects in a timely manner to enable reflections and revisions on the final product.
  5. Participate in discussions.
  6. Demonstrate your mastery of the required skills on quizzes, exams, etc.
  7. Complete all assignments with promptness and accuracy.
  8. All written documents as well as online assignments must be completed using correct grammar, spelling, and structure.


The grading breakdown is subject to change at the discretion of the instructor.


up to 40%

Test (which includes Midterm and Final) 

up to 60%

Assignments, Projects and/or Labs

up to 40%


up to 20%


Please see your first day handout for individual instructor grading schemes.


College-wide policies and resources

For more specific information on Chipola's college-wide academic policies and resources available to students, visit the link below.