Cost behaviour, budgeting, and variance analysis for internal managerial decision-making.
About this course
ACCT 1680 Managerial Accounting Concepts focuses on the accounting information managers need to plan, control, and make decisions inside an organisation. You will move beyond the external reporting requirements of financial accounting to explore how costs behave, how budgets are built, and how variance analysis highlights performance gaps.
Topics include cost-volume-profit analysis, flexible budgeting, standard costing, and relevant costing for short-term decisions such as special orders or product line changes. The course prepares you to translate accounting data into actionable insights for operations and strategy.
Who takes this course
This course is required for students in the Accounting and Accounting (Part-time) programs.
Credits: 3 · Hours: 45
Prerequisites
Learning outcomes
- Classify costs as variable, fixed, or mixed to support cost-volume-profit analysis
- Prepare operating budgets and flexible budgets for short-term planning
- Calculate and interpret standard cost variances for materials, labour, and overhead
- Evaluate relevant costs and revenues for make-or-buy and special order decisions
Evaluation
| Component | Weight (%) |
| Midterm exam | 30 |
| Budgeting project | 25 |
| Variance analysis assignment | 20 |
| Final exam | 25 |