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Third semester: ACC-112 Learning

Objectives

LO 1.1: Students will be able to understand problems

with the

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 Comparison previous CLOs and new CLOs
CLO 1. Difference between financial accounting from CLO 1. Distinguish financial accounting from management
management accounting. Understand how management accounting.
accounting fits into an organization’s structure. Understand
what professional ethics mean to management
accountants.

CLO 2. Distinguish between direct costs and indirect costs. CLO 2. Classify costs into direct and indirect, variable and
Explain variable costs and fixed costs. Distinguish fixed, product and period costs.
inventoriable costs from period costs. Explain why product
costs are computed in different ways for different purposes.

CLO 3. Describe the approaches to evaluating and CLO 3. Distinguish job order costing from process costing
implementing job-costing systems. Track the flow of costs in and explain the flow of costs through the six T accounts.
a job costing system Dispose of under- or over allocated
manufacturing overhead costs at the end of the fiscal year
using alternative methods

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 Previous and New CLOs
CLO 4. Explain how broad averaging under-costs and over- CLO 4. Apply activity-based costing method to allocate
costs products or services. Distinguish between simple overhead to different jobs or product lines.
and activity-based costing systems. Evaluate the costs and
benefits of implementing activity-based costing systems.
CLO 5. Distinguish production procedures that match with CLO 5. Compute equivalent units, cost per equivalent units
process costing from those that correspond with job order and demonstrate their usage in assigning costs to work in
costing. Account for the physical flows and related cost process and finished goods inventory.
flows when using process costing
CLO 6. Determine the sales volume required to earn a
desired level of operating income. Use the contribution CLO 6. Compute contribution margin, contribution margin
margin ratio to estimate the change in operating income ratio and margin of safety.
caused by a change in sales volume.
CLO 7. Understand application of incremental analysis in
short term decisions. Understand application of CLO 7. Use incremental analysis for short term business
incremental analysis in special order, make or buy, joint decisions.
product and sell, scrap or rebuild decisions

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 CLOS LOS Bloom’s Taxonomy
CLO 1. Distinguish financial accounting LO 1.1 Comprehension
from management accounting.
CLO 2. Classify costs into direct and LO 1.1 Comprehension
indirect, variable and fixed, product and
period costs.
CLO 3. Distinguish job order costing from LO 1.1 Comprehension
process costing and explain the flow of
costs through the six T accounts.
CLO 4. Apply activity-based costing LO 1.1 Application
method to allocate overhead to different
jobs or product lines.
CLO 5. Compute equivalent units, cost per LO 1.1 Application
equivalent units and demonstrate their
usage in assigning costs to work in
process and finished goods inventory.
CLO 6. Compute contribution margin, LO 1.1 Application
contribution margin ratio and margin of
safety.
CLO 7. Use incremental analysis for short
term business LO 1.1 Application

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 ACC-112 Fundamentals of Management Accounting
Learning Objective LO 1.1 LO 1.2 LO 2.1 LO 2.2 LO 3.1 LO 3.2 LO 4.1 LO 4.2

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CLO 1              

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CLO 2              

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CLO 3              

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CLO 4            
 
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CLO 5  

CLO 6 
 

CLO 7 