The course introduces the student to and focuses on the concepts, methods, and procedures for the development and use of cost accounting information to support and assist management in their initial cost accounting processes. Cost accounting focuses on the cost of producing goods and services, assists in controlling costs in terms of material labor, and processes, and assists in calculating the selling price of products or services using different costing models. Moreover, it exposes students to the scope, similarities, and differences between managerial and cost accounting.

Additionally, to manage organizations effectively in the dynamic business environment, internal users, such as management, require knowledge, skills and the appropriate tools in planning, controlling, organizing, and decision-making. Therefore, Managerial Accounting is concerned with providing management with information from the accounting system as well as methods and techniques from other disciplines to help these managers make informed decisions that would allow them to decide which course of action to take. Students will also be exposed to different tools that aid decision-making such as the budgeting process, short- and long-term decision making including break even analysis, cost volume profit analysis, time value of money applications using net present value, discounted payback and internal rate of return, and non-discounting methods among others.