This course continues the study of accounting begun by the students during their Basic Accounting course. This course emphasizes accounting for liabilities, accounting for equity, and corporate forms of ownership. Topics include responsibility accounting, budgets, cost control, and standard costing procedures and analysis of variances. Obtaining familiarity of these topics and tools is intended to highlight the importance of management reporting and decision making.

Learning Objectives and Outcomes:

By the end of this course students will be able to:

1. Explain the differences between accounting for financial statements and management accounting.
2. Complete journal entries (using the accrual basis of accounting) to establish and retire long-term debt.
3. Explain various forms of business ownership, especially corporate business ownership.
4. Prepare various types of management budgets.
5. Illustrate the tools commonly used evaluate enterprise performance.

Course Schedule and Topics

This course will cover the following topics in eight learning sessions, with one Unit per week. The Final Exam will take place during Week/Unit 9 (UoPeople time).
Week 1: Unit 1 – Accounting for Long-Term Obligations
Week 2: Unit 2 – Corporate Forms of Business Management

Week 3: Unit 3 – Management Decisions Based on Accounting Information

Week 4: Unit 4 – Cost-Volume-Profit Relationships

Week 5: Unit 5 – Costing Methods

Week 6: Unit 6 -Budgeting and Planning

Week 7: Unit 7 – Enterprise Performance Evaluation

Week 8: Unit 8 -Management Decision-Making Processes

Week 9: Unit 9 -Course Review and Final Exam

Learning Guide

The following is an outline of how this course will be conducted, with suggested best practices for students.

Unit 1: Accounting for Long-Term Obligations

● Read the Learning Guide and Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit the Written Assignment
● Make entries to the Learning Journal
● Take the Self-Quiz

Unit 2: Corporate Forms of Business Management

● Peer assess Unit 1 Written Assignment
● Read the Learning Guide and Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit the Written Assignment
● Make entries to the Learning Journal
● Take the Self-Quiz

Unit 3: Management Decisions Based on Accounting Information

● Peer assess Unit 2 Written Assignment
● Read the Learning Guide and Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit the Written Assignment
● Make entries to the Learning Journal
● Take the Self-Quiz
● Take the Graded Quiz

Unit 4: Cost-Volume-Profit Relationships

● Peer assess Unit 3 Written Assignment
● Read the Learning Guide and Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit the Written Assignment
● Make entries to the Learning Journal
● Take the Self-Quiz

Unit 5: Costing Methods

● Peer assess Unit 4 Written Assignment
● Read the Learning Guide and Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit the Written Assignment
● Make entries to the Learning Journal
● Take the Self-Quiz

Unit 6: Budgeting and Planning

● Peer assess Unit 5 Written Assignment
● Read the Learning Guide and Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit the Written Assignment
● Make entries to the Learning Journal
● Take the Self-Quiz
● Take the Graded Quiz

Unit 7: Enterprise Performance Evaluation

● Peer assess Unit 6 Written Assignment
● Read the Learning Guide and Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit the Written Assignment
● Make entries to the Learning Journal
● Take the Self-Quiz

Unit 8: Management Decision-Making Processes

● Peer assess Unit 7 Written Assignment
● Read the Learning Guide and Reading Assignments
● Make entries to the Learning Journal
● Take the Self-Quiz

Unit 9: Course Review and Final Exam

● Read the Learning Guide and take the Review Quiz, if you haven’t already done so
● Prepare for, take, and submit the Final Exam
● The Final Exam will take place during the Thursday and Sunday of Week/Unit 9 (UoPeople time); exact dates, times, and other details will be provided accordingly by your instructor