ACCT112 Management Accounting Course Outline: Term 1 A. INSTRUCTORS AND CONTACT INFORMATION. Office Room # SOA Office Phone

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1 ACCT112 Management Accounting Course Outline: Term 1 A. INSTRUCTORS AND CONTACT INFORMATION Section ID G1 to G4 Instructor LEONG Kwong Sin Office Room # SOA Office Phone Address ksleong@smu.edu.sg Teaching Assistants: Russell Sim Yuwen Bach Hoang Dang B. COURSE PREREQUISITES While there is no formal pre-requisite for this course, it is strongly recommended that students have completed Financial Accounting (ACCT 101, or ACCT 103, or ACCT 111). In addition, students are encouraged to acquire fundamental skills in Excel as this will be useful for this course, especially for the group project. C. COURSE DESCRIPTION ACCT112 Management Accounting contributes towards the Bachelor of Accountancy s Learning Goal of equipping our graduates with relevant technical knowledge and skills required to function effectively as accounting professionals. Our students will be able to analyze, synthesize and evaluate financial and other related information for managerial decision making. This course introduces students to the concepts of management accounting and focuses on how information may be used to support managers in decision-making. It will help students find the answers to questions confronting managers, for example: Should the company make a certain product or provide a certain service? Should the company produce more or less of certain products/services? What is the financial outlook of the company, or specific product/service? How is the company, or functions within the company, performing? Are there areas/operations/functions that need attention? Etc see document Questions you should ask in MA The key information required for the above questions is Cost. But it is essential for management accountants to understand the fundamentals of the organization and the underlying business. Why bother to calculate the cost of an activity if that activity is redundant in the first place? Students should also learn to appreciate that management accountants have to work in cross-functional teams with managers from all areas of the organization. 15 Dec 2011 Page 1 of 5

2 D. LEARNING APPROACH The course will be conducted in seminar sessions of about 3 hours each. You are expected to come to these sessions well-prepared and be ready to respond to questions as required. This means doing the required readings and any other necessary work before each session. Individual seminar may not necessarily cover all of your readings and assignments. Much of the effective learning occurred outside the classroom. The focus of this introductory course in Management Accounting would be on understanding the fundamental issues, concepts and processes involved in managerial decision making. The real world is excitingly ambiguous, and no two companies are exactly the same. Thus, you should spend some time thinking about the concepts and logic behind the methods so you can adapt and apply management accounting knowledge in different environments. E. REQUIRED TEXT, SUPPLEMENTARY TEXTS AND READINGS Required text: Hilton, Maher & Selto, Cost Management: Strategies for Business Decisions, 4 th Edition, McGraw-Hill. Supplementary texts: Horngren, Datar, Rajan, Cost Accounting: A Managerial Emphasis, 14th Edition, Pearson Garrison, Ray H., Noreen, Eric W., Brewer, Peter C., Cheng, Nam Sang and Yuen C.K. Katherine - Managerial Accounting: An Asian Perspective, McGraw-Hill, Readings in Management Accounting edited by S Mark Young 6 th edition Prentice Hall Other than the prescribed reading materials, students are encouraged to read additional materials (e.g. Business Times, Wall Street Journal, Barron s, Bloomberg, Forbes, Fortune, Business Week, etc) that may be relevant to their field of studies. These sources may help you find a relevant article for the required critique (see section on Assessment). 15 Dec 2011 Page 2 of 5

3 F. LESSON PLAN* Week Topic Hilton et al, 4E 1 Introduction to MA & Costs Chapters 1 & 2 2 Job Costing Chapter 3 3 Overhead Costs: Support Service Costs & Activity Based Costing Chapters 4 & 10 4 Cost Estimation & CVP Chapters 11 & 12 5 Budgeting Chapter 15 6 Standards & Variances Chapters 16 & 17 7 MID-TERM TEST Capital Budgeting Chapter 14 8 Mid Term Recess 9 Process Costing Chapter Absorption & Variable Costing Relevant Cost for Decision Making Balanced Scorecards Bidding Game Chapter 2 Chapter 13 Chapter PROJECT PRESENTATIONS 13 PROJECT PRESENTATIONS 14 Revision 15 FINAL EXAM Wed am 5 Dec 2012 *Details of this table are subject to change. 15 Dec 2011 Page 3 of 5

4 G. ASSESSMENT & EVALUATION Assessment Category Weight Remarks (i) Class Activities 10% Contribution in Class, Posting of homework online, etc. (ii) Group Project 20% 15% for written report; 5% for presentation. (iii) Progress Assessment 20% 15% for Mid-Term Tests; 5% for a short critique (iv) Final Examination 50% See document Topics Covered in MA Total 100% (i) Class Activities (Participation in class, posting of homework online, etc.) Students are strongly encouraged to actively participate in class discussions/group presentations/online discussion/homework. Students will be graded on an individual basis according to their contribution to the various activities. (ii) Group Project (A budgeting exercise for a new small business) You will need to form groups for your group project. Pertinent details of the project are given in the Group Project document. (iii) Progress Assessments (A Mid-Term Test and a short critique) Mid-Term Test There will be a mid-term test on Week 7, covering all the topics that have been covered from Weeks 1 to 5 (see Lesson Plan above). If you have to miss the test due to reasons beyond your control please provide the necessary document to your instructor. If your reason is valid, the assessment weight for the test missed will be moved to the final exam. There will NOT be any make up test. Please note that you may arrange to take the test on other days when I have an MA class. In the Mid-Term test (and the final exam), students are assessed not only on how well you understand the materials but also in how quickly you can apply the materials in solving problems. Students are strongly encouraged to gauge their level of understanding and mastery by doing problems from the text as well as other practice problems that I will provide from time to time. A Short Critique Each student is required to submit an individual essay. Please see document titled Critique for details. (iv) Final Examination The final examination will be a 3 hour, closed book paper. If you miss the final examination, there will NOT be any make up exam. 15 Dec 2011 Page 4 of 5

5 ACADEMIC INTEGRITY All acts of academic dishonesty (including, but not limited to, plagiarism, cheating, fabrication, facilitation of acts of academic dishonesty by others, unauthorized possession of exam questions, or tampering with the academic work of other students) are serious offences. All work (whether oral or written) submitted for purposes of assessment must be the student s own work. Penalties for violation of the policy range from zero marks for the component assessment to expulsion, depending on the nature of the offense. When in doubt, students should consult the instructors of the course. Details on the SMU Code of Academic Integrity may be accessed at Approved by: Themin Suwardy, 13 August Dec 2011 Page 5 of 5