MBAO 421 Managerial Accounting
This is an introductory course in cost management and control. Managerial accounting is concerned with generating, using, and interpreting financial and other information for use by managers in making decisions. These decisions include planning and control, budgeting, resource allocation, cost measurement, pricing, and performance evaluation. Financial accounting is externally oriented and governed by fundamental concepts of generally accepted accounting principles (GAAP). In contrast, managerial accounting is internally oriented and very context driven. Some students find it more intuitively accessible than financial accounting, but it is no less rigorous.