Principles of Managerial Accounting

I.     Course Prefix/Number: ACC 154

       Course Name: Principles of Managerial Accounting

       Credits: 4 (4 lecture; 0 lab)

II.    Prerequisite

Recommended: ACC 153

III.   Course (Catalog) Description

Course presents accounting information used for internal business management. Focus is on planning, controlling and evaluating company performance. Content includes budgeting, job costing, product pricing, breakeven analysis, standard costing, decision models.  Projects will be completed in Microsoft Excel.  Prior experience with Excel not required.

IV.   Learning Objectives

At the conclusion of this course, students will be able to:

  • identify the roles of management and how accounting can inform management in the decision making process
  • classify costs into categories, including product vs. period and then material, labor, or overhead for product costs
  • prepare statement of cost of goods manufactured, cost of goods sold, and income statement
  • analyze, interpret and complete job-order cost accounting cycles
  • identify purposes and methods of process costing cycles
  • construct, analyze, and interpret activity-based costing as a decision-making tool
  • construct, analyze and interpret cost-volume-profit relationships
  • analyze and interpret relevant costs and product decisions
  • formulate, interpret and complete a master budget
  • evaluate performance of business segments using ROI and residual methods
  • prepare a flexible budget, construct standard costs, and measure variances from standards
  • construct, analyze and interpret decisions using present value method
  • utilize Microsoft Excel to prepare business models and aid in the decision making process

V.    Academic Integrity and Student Conduct

Students and employees at Oakton Community College are required to demonstrate academic integrity and follow Oakton's Code of Academic Conduct. This code prohibits:

• cheating,
• plagiarism (turning in work not written by you, or lacking proper citation),
• falsification and fabrication (lying or distorting the truth),
• helping others to cheat,
• unauthorized changes on official documents,
• pretending to be someone else or having someone else pretend to be you,
• making or accepting bribes, special favors, or threats, and
• any other behavior that violates academic integrity.

There are serious consequences to violations of the academic integrity policy. Oakton's policies and procedures provide students a fair hearing if a complaint is made against you. If you are found to have violated the policy, the minimum penalty is failure on the assignment and, a disciplinary record will be established and kept on file in the office of the Vice President for Student Affairs for a period of 3 years.

Please review the Code of Academic Conduct and the Code of Student Conduct, both located online at
www.oakton.edu/studentlife/student-handbook.pdf

VI.   Sequence of Topics

  1. Introduction to Managerial Accounting
  2. Building Blocks of Managerial Accounting
  3. Job Costing
  4. Introduction to Process Costing
  5. Activity Based Costing
  6. Cost Behavior
  7. Cost-Volume-Profit Analysis
  8. Relevant Costs for Short-Term Decisions
  9. The Master Budget
  10. Performance Evaluation
  11. Standard Costs and Variances
  12. Capital Investment Decisions and the Time Value of Money

VII.  Methods of Instruction

  1. In class practice
  2. Daily homework and take-home quizzes
  3. Online practice and graded homework
  4. In class quizzes and exams

Course may be taught as face-to-face, hybrid or online course.

VIII. Course Practices Required

Students are required to:
  • Attend class and arrive promptly (face-to-face only)
  • Do in-class assignments and quizzes (face-to-face only)
  • Complete all practice and graded homework
  • Complete any projects assigned by instructor
  • Take quizzes and exams
Course may be taught as face-to-face, hybrid or online course.

IX.   Instructional Materials

Note: Current textbook information for each course and section is available on Oakton's Schedule of Classes.

  1. All students: Managerial Accounting by Braun and Tietz with MyAccountingLab access code (custom bundle available at Oakton bookstore at discounted price)
  2. Face-to-face students: Student Handout Packet only available at Oakton bookstore.

X.    Methods of Evaluating Student Progress

  • Online homework
  • Manual homework
  • In-class and take-home quizzes
  • Departmental Assessment Tool
  • Excel projects
  • Practice exams
  • Exams

XI.   Other Course Information



If you have a documented learning, psychological, or physical disability you may be entitled to reasonable academic accommodations or services. To request accommodations or services, contact the Access and Disability Resource Center at the Des Plaines or Skokie campus. All students are expected to fulfill essential course requirements. The College will not waive any essential skill or requirement of a course or degree program.

Oakton Community College is committed to maintaining a campus environment emphasizing the dignity and worth of all members of the community, and complies with all federal and state Title IX requirements.

Resources and support for
  • pregnancy-related and parenting accommodations; and
  • victims of sexual misconduct
can be found at www.oakton.edu/title9/.

Resources and support for LGBTQ+ students can be found at www.oakton.edu/lgbtq.