UNIVERSITY OF TORONTO 
RSM222: Management Accounting I 
Comprehensive Revision Guide and Course Notes 2025 
 
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University of Toronto - Management Accounting I (RSM222)

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ACADEMIC YEAR 2024 - 2025

University	University of Toronto
Program	Rotman Commerce
Course Code	RSM222
Course Name	Management Accounting I
Notes Title	Comprehensive Revision Guide and Course Notes
Page Length	119

If you are studying for Management Accounting I (RSM222) at UofT, this comprehensive guide and practice test set is a must-have. You don't need to be an expert in the course, you just need a basic understanding, and the ability to quickly recall the information you learn. You can use these notes as a reference to understand the topics better and improve your grades in the final exam. This updated exam preparation guide helps you identify your weak areas so you can pass the final examination on your first attempt. Please note that students have the option to request a paperback version at checkout.

RSM222: Management Accounting I emphasizes the role of accounting information in improving decision-making across manufacturing, service, government, and non-profit sectors. The course examines how changing business practices - such as cost reduction, outsourcing, total quality management, and new technologies - impact organizational processes. In this evolving environment, management accountants provide strategic insights by presenting both financial and non-financial information critical to performance and success.

Main topics include cost concepts, behaviors, flows, and costing systems like job-order costing, process costing, and activity-based costing (ABC). Students will also explore cost-volume-profit (CVP) analysis, budgeting, standard costing with variance analysis, relevant costs for decision-making, and capital budgeting. Tools such as the balanced scorecard are introduced to assess performance from a broader perspective.

By the end of the course, you will understand various managerial accounting concepts, apply internal costing systems, and use analytical tools for optimal decision-making. You will also develop skills to create budgets, analyze budget variances, and assess business performance effectively. RSM219: Introduction to Financial Accounting is required as a prerequisite for this course.

COURSE CODE	COURSE NAME
ACT240	Mathematics of Investment & Credit
ECO101	Principles of Microeconomics
ECO102	Principles of Macroeconomics
ECO206	Microeconomic Theory
ECO220	Introduction to Data Analysis & Applied Econometrics
ECO227	Foundations of Econometrics
ECO372	Data Analysis & Applied Econometrics in Practice
ECO374	Forecasting and Time Series Econometrics
ECO375	Applied Econometrics I
EEB225	Biostatistics for Biological Sciences
MGM390	Business Law
PSY201	Statistics I
RSM219	Introduction to Financial Accounting
RSM220	Intermediate Financial Accounting I
RSM221	Intermediate Financial Accounting II
RSM222	Management Accounting I
RSM225	Legal Environment of Business I
RSM230	Financial Markets
RSM250	Principles of Marketing
RSM260	Organizational Behaviour
RSM332	Capital Market Theory
RSM333	Corporate Finance
RSM336	Investments
RSM433	Advanced Corporate Finance
RSM435	Futures and Options Markets
SOC202	Introduction to Quantitative Methods in Sociology
STA220	The Practice of Statistics I

University of Toronto - Management Accounting I (RSM222)

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