Financial and Managerial Accounting (FMAC) 503

Financial and Managerial Accounting

FMAC 503

Delivery Mode: Online

Credits: 3

Prerequisites: STMT 500

Faculty: Faculty of Business

Program: Master of Business Administration

Manager: David Annand, EdD

Course Overview

Students with their CGA, CMA, CPA or CA designations may receive transfer credit for this course.

Running any type of organization—whether it be manufacturing, merchandising, service, non-profit, or government—would practically be impossible without an understanding of financial and managerial accounting principles. This course introduces students to these important principles. In the financial component of the course, students take a detailed look at the three traditional accounting statements:

  • balance sheet
  • income statement
  • cash flow statement

In the managerial component of the course, students look at how management accounting information is used by managers in their planning and control activities.

Course Objectives

By the end of the course, students should be able to do the following:

  • describe the topics, concepts, tools, and practices of accounting
  • outline the information that accountants produce
  • use accounting information for planning, operating, investing, financing, and management control decisions

Course Outline

The course is divided into eight lessons:

  • Lesson 1 - Financial Accounting and Reporting
  • Lesson 2 - Income, Equity, and Cash Flows
  • Lesson 3 - Ratios
  • Lesson 4 - Foundation and Tools for Management Accounting, Strategy Development, and Using Costs in Decision Making
  • Lesson 5 - Costing Systems and Activity-Based Costing
  • Lesson 6 - Managing Customers, Processes, and Life Cycle Costs
  • Lesson 7 - Using Budgets for Planning, Coordination, and Control
  • Lesson 8 - Course Wrap-Up

Student Evaluation

Students in this course are graded on the following:

  • completion of reflective problems
  • participation in group discussions
  • group projects
  • major individual assignment

Athabasca University reserves the right to amend course outlines occasionally and without notice. Courses offered by other delivery methods may vary from their individualized-study counterparts.