Managerial Accounting & Legal Aspects Of Business –
acc543
(3 credits)
In this course, students examine managerial accounting as part of the business’s accounting information system and legal aspects of the business enterprise. Topics include managerial accounting and capital budgeting, cost analysis; management planning and control, negotiable instruments, secured transactions, debtor/creditor relationships, property and insurance, and legal aspects of employment and environment.
Negotiable Instruments, Secured Transactions, and Debtor/Creditor Relationships
Determine the rights and responsibilities of parties involved with a negotiable instrument.
Identify the rights and responsibilities of debtors and creditors.
Idenfity the necessary components of secured transactions.
Determine the primary and secondary liabilities of parties to negotiable instruments.
Legal Aspects of Employment and Environment
Identify the significant employment regulations affecting business.
Analyze the formation, rights, authority, and termination of agency relationships.
Explain the liability of accountants to third parties.
Explain the significant laws protecting employees from discrimination.
Property and Insurance
Identify environmental regulations to a business situation.
Analyze the business use of insurance for various risks.
Evaluate the legal aspects of acquiring, holding, and disposing of personal property.
Evaluate the legal aspects of acquiring, holding, and disposing of real property.
Management Planning and Control
Analyze nonfinancial measures to measure business performance.
Analyze financial ratios to measure business performance.
Explain budget variances.
Construct elements of a master budget.
Cost Analysis
Integrate cost behavior concepts with cost-volume-profit (CVP) analysis.
Use the techniques of job order and process costing to determine product cost.
Apply the concepts of cost estimation, cost driver, and cost allocation to a business situation.
Managerial Accounting and Capital Budgeting
Evaluate relevant financial information involved in a capital budgeting decision.
Differentiate among various capital budget evaluation techniques.
Determine the present value of future cash flows from an investment.
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Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.