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AC 351 Managerl Acctg Decisions

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  • 93 terms

    Term:

    financial accounting

    Definition:

    reporting financial information to external parties, such as stockholders. creditors and regulators

    • Accounting 351 Exam 1
    • 93 terms
    • Vocabulary for Accounting 351 Exam 1. Find, create, and access Accounting, Managerial Accounting, Accounting 351, final product, flashcards with Course Hero.
  • 27 terms

    Term:

    break even point

    Definition:

    the level of sales at which profit is zero

    • Exam 2
    • 27 terms
    • Vocabulary for Exam 2. Find, create, and access Accounting, Managerial Accounting, Contribution Margin, Accounting 351, one hand flashcards with Course Hero.
  • 20 terms

    Term:

    Absorption Costing

    Definition:

    method that includes all manufacturing costs- direct materials, direct labor and both variable and fixed manufacturing overhead- in the cost of a product

    • Chapter 3
    • 20 terms
    • Vocabulary for Chapter 3. Find, create, and access Accounting, Managerial Accounting, Accounting 351, final product flashcards with Course Hero.
  • 16 terms

    Term:

    Budget

    Definition:

    A detailed plan for the future that usually is expressed in formal quantitive terms

    • Chapter 1
    • 16 terms
    • Vocabulary for Chapter 1. Find, create, and access Accounting, Management, Accounting 351, Corporate social responsibility flashcards with Course Hero.
  • 10 terms

    Term:

    Appraisal Costs

    Definition:

    costs that are incurred to identify defective products before the products are shipped to customers

    • Chapter 2
    • 10 terms
    • Vocabulary for Chapter 2. Find, create, and access Accounting, Management, Managerial Accounting, Accounting 351, defective products flashcards with Course Hero.
  • 10 terms

    Term:

    Break Even Point

    Definition:

    the level of sales at which profit is zero

    • Chapter 5
    • 10 terms
    • Vocabulary for Chapter 5. Find, create, and access Accounting, Managerial Accounting, Operating Leverage, Contribution Margin flashcards with Course Hero.
  • 8 terms

    Term:

    Conversion Cost

    Definition:

    direct labor cost plus manufacturing overhead cost

    • Chapter 4
    • 8 terms
    • Vocabulary for Chapter 4. Find, create, and access Accounting, Managerial Accounting, Energy, Accounting 351, Weighted mean flashcards with Course Hero.

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    • Profile picture
    Oct 26, 2016
    | Would recommend.

    Pretty easy, overall.

    Course Overview:

    I took the online version of this class because it fit into my schedule better and I am glad I did. He has all his lecture videos online and you only have to do the quizzes and exams. The quizzes and exams are not proctored so you can pretty much use your notes. If you take it on campus, you can't use your notes and from what I heard he assigns homework to the campus version.

    Course highlights:

    You learn the basics of managerial accounting. Since it's not for accounting majors it is not too difficult or detailed but I suggest any business major to take it as it can add to your knowledge.

    Hours per week:

    0-2 hours

    Advice for students:

    Take the online version, there are deadlines but quizzes and exams are online. You can use your notes. Most of the exams come from the quizzes so keep them close and you can ace the exams. He also drops 2 quizzes and 1 exam.

    • Fall 2016
    • WalterA.Robbins
    • Yes

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