Golden Gate University (Campus) School of Accounting Course Outline Accounting 1B (Spring 2016) Introductory Managerial Accounting

Transcription

1 Golden Gate University (Campus) School of Accounting Course Outline Accounting 1B (Spring 2016) Introductory Managerial Accounting 2 1 Instructor: Shiva Moozoun, Esq. shiva.moozoun@gmail.com Course Description : This course examines the procedures by which financial and other information is communicated internally to help management plan and control the company's operational activities. It focuses on procedural training as well as critical thinking and conceptual understanding of accounting in making business decisions. Students will be familiarized with the language of business, Institute of Management Accountants (IMA) code of ethics and the roles of managers. A team learning environment is promoted with in class discussions. Expanded Objectives by Chapters: Chapter 1 Review differences between managerial and financial accounting. Develop an appreciation for the larger business environment in which managerial accounting operates. Outline the primary functions of managers and the importance of ethical considerations in managerial accounting. 2 Analyze cost behavior in terms of mixed costs. Apply cost predictions using the high-low method, with an overview of its benefits and shortcomings, as compared to linear regression analysis (using EXCEL functions). Know the contribution margin income statement format and its contrast with the traditional financial reporting format. 3 Recognize Cost-Volume Profit (CVP) relationships; use CVP formulas for single as well as multi-product firms to calculate breakeven and activity to achieve target profit. Explain the effects of the shift in sales mix on breakeven and target profit. Compute the margin of safety and degree of operating leverage as well as explain their significance. 4 Explain cost terms and cost flows in a manufacturing environment; focus on the differences between product and period costs. Examine job cost system; understand overhead application and job cost flows. Discuss shortcomings of traditional OH application for managerial decision-making purposes. Apply the IMA code of ethics to accounting cases.

2 5 Understand the role of budgets and the master budget interrelationships. Be familiar with operating and financial budgets (cash budgets and proforma financial statements) for manufacturing and retail firms. 8 Identify and determine relevant costs in managerial decision making cases. Analyze and solve selected decision cases involving make-or-buy (outsourcing), special order, keep or drop a segment and optimization under a constrained resource. 10 Understand a segmented income statement using the contribution format, and the difference between traceable fixed costs and common fixed costs. Compute and compare return on investment (ROI) and residual income. Understand their strengths and weaknesses. Required Text : TITLE: AUTHOR: EDITION: PUBLISHER: Managerial Accounting Davis Latest John Wiley & Sons, Incorporated Grading Policy: Homework Submissions ( 6 x 4 pts each) 24 pts 8.00% Discussion Participation ( 14 x 4 pts each) 7 Short 56 pts 18.67% Quizzes 10 pt & 6 &15 pts ea) Supervised 100 pts % Final Exam (Open book/notes) 120 pts 40.00% Total Score Grading Rubric: 300 pts % pts A pts A pts B pts B pts B pts C pts C pts C pts D < 180 pts F

3 Overall course requirements: 3 Please make appropriate allowances to prepare for each session in a timely manner. Being adequately prepared for each session, meeting the deadlines for assignments and reviewing course materials are key components of your responsibility in this course. Practicing the homework will also prepare you significantly for the examinations. It is expected that you read the text chapter in advance and participate in discussions. Your participation in discussion also provides the opportunity to share your learning experience with fellow students. Weekly Lessons: Each session may include slides, video, & sample problems. Each student will be expected to respond to discussion questions each week. Homework assignments are also selected to illustrate the main concepts covered in each chapter, even though you are encouraged to review unassigned concepts to help understand the chapter content. Discussion: Participation component on the weekly discussion is graded based on efforts, quality of the responses, contribution toward group learning and relevance to the course objectives. They involve answering queries on the new materials to help students get familiar with the issues and concepts so as to prepare in part for the homework. Participation is worth 4 pts max per week. Exceptional participation may be a factor in end-of-semester borderline grading cases. Homework Assignments: There will be 6 HW assignments worth 4 pts each. Specifics of the assignment (exercise & problems in the text) will be announced at least 1 week in advance of due date. No late submission will be accepted. All homework assignments need to be submitted in class. They are to be submitted to the instructor in class. They will be graded based on completion and efforts, besides correctness. Although there is may be a one week window for submission, it is recommended that students complete the homework soon after the respective lesson so as not to forget the materials and fall behind on the new lesson. Quizzes: There will be 7 in class quizzes totaling 100 pts ( 10 pts and 15 pts). Each quiz covers a recently completed chapter material (scheduled after homework submission. Quizzes are not cumulative. They will be graded based on correctness. No late quizzes are accepted.

4 4 Final Exam: The exam will be cumulative, timed, and supervised. It may consist of multiple choice questions, problems and short essays. It is worth 120 pts (40% of your grade). A grade of "F" will be assigned if the final examination is not taken and a withdrawal has not been processed or requested from the instructor. Deadlines: You are responsible for observing the " drop "and " withdraw " deadlines as well as filing the petitions. Otherwise an appropriate grade will be assigned at the end of the quarter based on the grading policy. Academic Integrity Policy: GGU's Policy on Student Academic Integrity is in effect at all GGU teaching locations, including regional classroom sites, corporate sites, and distance courses delivered in any medium. This policy applies to all business, taxation, and technology students at Golden gate University. Please read GGU's Policy on Student Academic Integrity which states "Golden Gate University requires that students be honest in their academic work. Academic dishonesty is viewed as an ethical issue and a violation of the principles expressed in the University's Mission Statement. It defrauds all those who depend upon the integrity of the University, its courses, and its degrees." For more resources to help you with academic integrity issues, login to GGU4YOU and review the page on the GGU Intranet. Disability Accomodations: Golden Gate University seeks to ensure that all programs and services are fully accessible to students with disabilities who identify and express their needs. Information regarding GGU's policies and services can be found at

5 5 Instructor Bio: Education: LL.M., Taxation (GGU School of Law) J.D., Business Law (GGU School of Law) B.S., Accounting (Towson University) B.A., Chemistry (W.VA University) Professional Certification: California Barred Work experiences: Tax Director, Morris & D'Angelo Adjunct Faculty (Golden Gate University School of Accounting Tax Experience CSM, LLP Lafayette, CA Controller Foster Interstate Media Inc. a multinational Outdoor Advertising start-up Acct 1B Introduction to Managerial Accounting Schedule (subj to revisions) Fall 2015 Start date of semester is Wednesday ( Sept 3, 2015).

6 Session# Date Topics Assignments 1 7-Jan Chap 1: Introduction to Managerial Accounting Read 1.1, 1.2, 1.3 Student Introductions 2 14-Jan Chap 2: Cost Behavior 3 21-Jan Chap 2: Cost estimation & CM analysis; 4 28-Jan Chap 3: BE & CVP Analysis 5 4-Feb Chap 3: Multiproduct & CVP Analysis 6 11-Feb Chap 4: Product vs Period Costs Product Cost flows Read 2.1 Discussion Session 1; (Chap 1) Read 2.2 & 2.3; Discussion:session 2 HW#1 (Chapt 2) Quiz #1 Read 3.1 & 3.2 Discussion:session 3 Quiz #2 (Chap 2) Read 3.3 Discussion:session 4; HW (Chap 3) Read 4.1 & 4.2 Discussion: session 5 Quiz #3 (Chap 3) 7 18-Feb Chap 4: Job-Order Costing Read 4.3 & 4.4 Discussion: session 6 HW#3 (Chap 4)

7 8 25-Feb Chap 5: The Budgeting Process The Master Budget (Operating) 9 3-Mar Chap 5: The Master Budget (Financial) Mar Chap 10 Decentralization Mar Chap 10 Segment evaluation: ROI vs RI Mar Chap 8: Relevant Costing: Special Order Outsourcing Read 5.1 & 5.3 Discussion: Session 7 Quiz #4 (Chap 4) Read 5.4 & 5.5 Discussion: session 8 HW#4 (Chap 5) Read 10.1 & 10.2 Discussion: session 9 Quiz #5 (Chap 5) Read 10.3 & 10.4 Discussion session 10 HW#5 (Chap 10) Read 8.1, 8.2, 8.3 Discussion: session 11 Quiz #7 (Chap 10) Mar Chap 8: Relevant costing: Constrained Resources; keep or drop Last Class - Quiz #7 (Chap 8) 14 7-April April No Class Read 8.4 & 8.5; Discussion: session 12; HW#6 (Chap 8) Quiz #7 (Chap 8) April Final Exam In Class

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