ACC 3040 Cost Accounting Course Outline Summer 2014

Transcription

1 University of Manitoba Department of Accounting and Finance I.H. Asper School of Business ACC 3040 Cost Accounting Course Outline Summer 2014 Instructor: Cindy Morley, CMA Office: 356 Drake Centre Office Hours: 5:30 to 6:30pm Tuesday and Thursday Phone: Course Objective: The course goals are to develop an understanding of the application of strategic cost management principles for business and not-for-profit organizations, and to provide an opportunity to develop skills in applying these principles. The management accountant s role is to provide timely and accurate information to assist management in achieving the firm s goals. This is an integrative role, which requires the management accountant to understand the firm s strategy, and to understand how both financial and non-financial information is developed across all the management functions. There are five specific goals: 1) Understand the fundamentals of management accounting, including the strategic focus and other basic cost terms and concepts 2) Determine product costs 3) Use costs and other critical success factors in management planning and decision making 4) Use costs and other critical success factors in operational control 5) Use costs and other critical success factors in management control Knowledge, techniques and skills learned in this course are fundamental to a successful career as an accountant. Mastery of course materials and competencies is required to pass examinations that lead to professional accounting designations. Text and Website Information: Cost Management: A Strategic Emphasis. Blocher, Juras, Cokins, Lin. McGraw-Hill, th edition. ISBN:

2 Please note that while the text is the primary source of information for the course, class notes, and class discussions are important. You are responsible for the text material and class discussions for examination purposes. For each text chapter assigned, recommended problems will be assigned. Solutions are available of the Desire 2 Learn (D2L). Text questions will also be discussed in class, so it is encouraged you bring your text to each class (see class schedule). Class presentations, lecture notes, old midterms and final exams can also be found on the course website. This course represents an extension of Managerial Accounting (ACC 1110). A review of certain ACC1100 materials is necessary although class time used for this purpose will be limited. Follow the instructions below to log into D2L: 1. The Desire2Learn website address is: 2. Sign in using your University of Manitoba UMnetID. (If you do not have a UMnetID, go to the Iridium website at: click on Create UMNetID.) 3. From your summer 2014 list of courses, click on ACC Grading: 5% In class group work and discussions (see schedule) 5% Group question 1 Process Costing text % Group question 2 Variances text % Group question 3 Strategic Performance Measurement text % Midterm exam 45% Final Exam For students who miss the midterm for legitimate reasons, the weight of the midterm exam will be allocated to the final examination (ie you will be writing an 80% final examination). Absence from exams due to illness require a medical certificate. If you miss the midterm for non-legitimate reasons you will be given a score of 0 (zero). There will be no deferred midterm exam privileges. Students who miss the final exam must apply to the Undergraduate Program Office in their faculty for possible deferred examination privileges. Any request for re-reads of term examinations and assignments must be made in writing, within 10 working days of the class when it was returned. The date for voluntary withdrawal is June 10, 2014.

3 Final grades are based on the student s weighted mark and performance relative to the other students, the following are the tentative grade cut-offs: Cumulative Marks Grade GPA A A B B C C D 1.0 Below 50 F 0.0 These tentative cut-offs are subject to adjustment up or down depending on the relative performance of the current class compared to prior classes that have taken the course with the same instructor. In Class group work and discussions You will be assigned to groups and through-out the term there will be in-class questions for your group to answer and present to the class. The best 5 of 6 in class assignments will be used to calculate your final grade. Group Comprehensive Questions During the term you will be required to prepare a response to three comprehensive questions. Details will be provided later in the term. Submission of the question can be done via Drop Box in D2L or hardcopy at beginning of class on the due date. Group Evaluation Each group member will evaluate each of the other group member s performance. If all members contributed equally to the group work, each member should receive a contribution score of 100%. If one or more members did not contribute fully he or she should be given a contribution score of less than 100% (minimum = 0%). The grade for each member will be equal to the grade assigned for the group work, multiplied by that individual s average contribution score as determined by the other group members. Please submit your evaluation of your team members via (morleyc@umanitoba.ca) no later than June 19, Note if you do not submit a group evaluation it will be assumed you are giving each member a 100% contribution score.

4 ACC 3040 Class Schedule Date Topic Readings May 6 Course Introduction & Overview of Chapters 1-3 Strategy and Review of cost terms May 8 Process Costing Chapter 6 May 13 Process Costing groups Chapter 6 assigned in class group work May 15 Cost Allocation: service Chapter 7 departments and joint products in class group work May 20 Activity Based Management 1 st Comprehensive question due Chapter 5 pages Process costing 6-51 May 22 Decision Making Chapter 11 omit appendix A May 27 Product life cycle, target costing, Chapter 13 theory of constraints and long term pricing in class group work May 29 Standard Costing: Direct Materials Chapter 14 and Labour - in class group work Jun 3 Mid Term Exam Chapters 1,2,3,5,6,7,11,13 Jun 5 Standard Costing Overhead in class group work Chapter 15 omit appendix A Jun 10 Productivity, marketing Chapter 16 effectiveness and strategic productivity analysis Jun 12 Strategic Performance Chapter 18 Measurement: Cost centres, profit centres and the BSC - 2 nd Comprehensive question due Variances Text Jun 17 Strategic Performance Chapter 19 Measurement: Investment Centres - In class group work 3 rd Comprehensive question due Strategic Performance Measurement Text Jun 19 Management compensation and Chapter 20 business valuation Jun 21 Final Exam

5 ACADEMIC INTEGRITY It is critical to the reputation of the I. H. Asper School of Business and of our degrees that everyone associated with our faculty behaves with the highest academic integrity. As the faculty that helps create business and government leaders, we have a special obligation to ensure that our ethical standards are beyond reproach. Any dishonesty in our academic transactions violates this trust. The University of Manitoba Undergraduate Calendar addresses the issue of academic dishonesty under the heading Plagiarism and Cheating. Specifically, acts of academic dishonesty include, but are not limited to: using the exact words of a published or unpublished author without quotation marks and without referencing the source of these words duplicating a table, graph or diagram, in whole or in part, without referencing the source paraphrasing the conceptual framework, research design, interpretation, or any other ideas of another person, whether written or verbal (e.g., personal communications, ideas from a verbal presentation) without referencing the source copying the answers of another student in any test, examination, or take-home assignment providing answers to another student in any test, examination, or take-home assignment taking any unauthorized materials into an examination or term test (crib notes) impersonating another student or allowing another person to impersonate oneself for the purpose of submitting academic work or writing any test or examination stealing or mutilating library materials accessing tests prior to the time and date of the sitting changing name or answer(s) on a test after that test has been graded and returned submitting the same paper or portions thereof for more than one assignment, without discussions with the instructors involved. Group Projects and Group Work Many courses in the I. H. Asper School of Business require group projects. Students should be aware that group projects are subject to the same rules regarding academic dishonesty. Because of the unique nature of group projects, all group members should exercise special care to insure that the group project does not violate the policy on Academic Integrity. Should a violation occur, group members are jointly accountable unless the violation can be attributed to a specific individual(s). Some courses, while not requiring group projects, encourage students to work together in groups (or at least do not prohibit it) before submitting individual assignments. Students are encouraged to discuss this issue as it relates to academic integrity with their instructor to avoid violating this policy. In the I. H. Asper School of Business, all suspected cases of academic dishonesty are passed to the Dean s office in order to ensure consistency of treatment.

6 UNIVERSITY OF MANITOBA I. H. Asper School of Business Medical Absenteeism Form Student Identification: (please print clearly) Last Name First Name Middle Initial U of M Student Identification Number I hereby authorize to verify with the attending physician or his/her (Name of Instructor/Administrator) staff or colleagues that the contents of this form are true. Student s Signature Date To be completed by the attending physician: (after the above section is completed) Physician s Last Name (please print clearly) Physician s First Name Middle Initial Street Address City, Province Postal Code Telephone Number Fax Number To the attention of the physician: Your evaluation of the student s condition is being used for the purpose of determining whether or not the student has a valid reason to miss an important exam or assignment. Your professional evaluation is necessary to ensure that only valid cases are excused. I certify that the nature of the student s condition is severe enough to prevent the student from taking an exam or completing an assignment. If requested, my associates or I will verify for the above-named instructor/administrator that this information is accurate. The student s condition will likely span the following dates: (indicate start date) Physician s Signature until (indicate end date) Date Notes to physician: Please make a note in the student/patient s file indicating that the student has given the above-named instructor/administrator permission to verify with you, your staff, or your colleagues, that the information contained on this form is correct. Thank you for your professional evaluation of this student s condition. PLEASE ATTACH THIS FORM TO YOUR REGULAR OFFICE STATIONERY THAT INDICATES THE STUDENT VISITED YOUR OFFICE. Note to student: The use of this form is at the option of the student. However, in order to obtain an excused absence for an assignment or exam, the student must obtain a doctor s certification that the student s condition is severe enough to prevent the student from taking the exam or completing the assignment. It is NOT SUFFICIENT to provide a note that only indicates the student visited the doctor s office.