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Outcome
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Expectation
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1. Students have basic knowledge of important facts, terminology, concepts, principles, and theories in the area of Accounting.
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Students understand accounting core concepts, tools, and terminology that encompasses management accounting information as it is used for planning, control, and decision-making purposes.
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2. Students can address unstructured business problems that span multiple functional areas.
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The MBA student will understand how to use the primary financial statements for decision making, including evaluating earnings trends and quality. The student will understand how to use accounting information, both financial and other qualitative information, for planning, implementing, controlling, and decision making related to enterprise activities. Managerial decision making includes costing and pricing decisions, profit planning, operational and capital budgeting, responsibility accounting and performance evaluation.
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3. Students can evaluate and analyze profitability.
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Students can solve problems and interpret the results of break-even analysis and cost-volume-profit analysis. Students can analyze profitability trends and quality. Students can prepare full absorption and variable costing income statements.
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4. Students can calculate costs of providing a good or service.
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Students calculate the cost of goods and services using job order costing, process costing, activity-based costing, standard costing and target costing.
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5. Students can distinguish relevant versus irrelevant costs for decision making.
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Students can distinguish costs relevant to a decision versus costs that are not relevant, including an understanding of sunk costs, opportunity costs, and differential costs.
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6. Students can make short-term or tactical decisions.
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Students can analyze short-term decisions, such as make-or-buy, keep or drop a segment, and special orders.
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7. Students can evaluate capital investment projects using NPV and IRR.
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Students can estimate cash flows and risk and use these values to compute NPV and IRR. Students can analyze the results and make a recommendation.
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8. Students can prepare operational budgets.
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Students can prepare operational budgets, consisting of sales budget, production budget, material budget, cash budget, and pro forma financial statements to use in planning and control.
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9. Students understand how to use financial information to evaluate performance.
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Students use Return on Investment (ROI), Residual Income (RI), Economic Value Added (EVA) and the balanced scorecard for performance evaluation and responsibility accounting.
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10. Students can determine the transfer price that would maximize profits.
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Students can calculate transfer prices and determine the transfer price that would maximize profits.
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