MOUNT ROYAL UNIVERSITY

ACCT 3224: Management Accounting I

Comprehensive Revision Guide and Notes 2026

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Mount Royal University - ACCT 3224: Management Accounting I

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University
Mount Royal University
Study Level
Undergraduate
Course Code
ACCT 3224
Course Name
Management Accounting I
Notes Title
Comprehensive Revision Guide and Notes
Page Length
119

ACADEMIC YEAR 2026 - 2027

If you’re studying ACCT 3224: Management Accounting I at Mount Royal University, this guide combines revision notes and practice questions to support your learning and exam preparation. Use it to revisit key concepts and work through practice questions within each topic to apply what you learn, check your understanding, and identify areas that need further revision. Whether you’re reviewing weekly material or preparing for an upcoming exam, this guide helps you organize your study and focus on the topics you find most challenging.

ACCT 3224: Management Accounting I

ACCT 3224: Management Accounting I at Mount Royal University introduces how managers use accounting information to plan operations, control costs and make business decisions. Students study cost behaviour, inventory and cost flows, job order costing, budgeting, standard costing and variance analysis. The course also examines cost-volume-profit relationships, break-even analysis and the use of relevant costs to compare decision alternatives. Emphasis is placed on applying managerial accounting methods and interpreting results to support planning and operational control.

✔ Upon completion of the course, students will be able to:

Understand key cost terms, concepts, and classifications.
Apply job order costing systems and prepare related journal entries.
Analyze cost behavior, including fixed, variable, and mixed costs.
Perform cost-volume-profit analysis to determine breakeven points and target profits.
Differentiate between absorption and variable costing, and reconcile net incomes.
Develop and analyze budgets, including operating, master, and flexible budgets.
Analyze standard costs and variances in manufacturing overhead.

Prerequisite: ACCT 2121 - Financial Accounting Concepts.

MOUNT ROYAL UNIVERSITY

Studying for another course? Select a course below to review the resource details and what’s included.

COURSE CODE	COURSE NAME
ACCT 2121	Financial Accounting Concepts
ACCT 3221	Intermediate Accounting I
ACCT 3224	Management Accounting I
ACCT 4222	Intermediate Accounting II
ECON 1101	Principles of Microeconomics
ECON 1103	Principles of Macroeconomics
ECON 2211	Intermediate Economic Theory - Microeconomics I
ECON 3395	Introduction to Applied Econometrics
FNCE 3227	Introduction to Finance
FNCE 3228	Advanced Corporate Finance
FNCE 4407	Investments and Portfolio Management
FNCE 4408	Derivatives and Risk Management
FNCE 4409	Security Analysis and Valuation
MATH 1224	Introduction to Statistics
MATH 2333	Statistics for Life Sciences
MATH 3454	Regression and Time Series Analysis
MGMT 2130	Management Principles and Practices
MGMT 2262	Statistics and Analytics for Business
MGMT 3230	Business Law
MKTG 2150	Fundamentals of Marketing

MITCA

Updated for 2026

Mount Royal University - ACCT 3224: Management Accounting I

INFORMATION

COURSE DESCRIPTION

RELATED COURSES

University	Mount Royal University
Study Level	Undergraduate
Course Code	ACCT 3224
Course Name	Management Accounting I
Notes Title	Comprehensive Revision Guide and Notes
Page Length	119