ACCT 222 Cost and Management Accounting COURSE OUTLINE. Semester One 2015 Choose an item.

Transcription

1 Cost and Management Accounting COURSE OUTLINE Semester One 2015 Choose an item. 1

2 Paper Description and Aims... 3 Learning Outcomes... 3 Teaching Staff... 6 Course Delivery... 7 Expectations and Workload... 8 Course Materials and Course Resources... 8 Blackboard... 9 Assessment... 9 Course Requirements Terms requirements Quality Assurance Assessment Grid Lecture and Seminar Timetable Business Case Studies: Class Representatives Student Learning Centre and Library Support Student Charter Guidelines for Learning at Otago Student Learning Centre Library Support Māori Student Support Pacific Islands Student Academic Advisor Disability Information and Support Dishonest Practice and Plagiarism Concerns about the Course Disclaimer Appendices APPENDIX APPENDIX APPENDIX APPENDIX APPENDIX APPENDIX

3 Paper Description and Aims ACCT 222 aims to provide students with an understanding of, and ability to produce cost and management accounting information that is used in planning and control of organisations. Particular emphasis is placed on mastering the topics of budgeting, variances and performance evaluation, relevant costs for decision making, pricing, treatment of overhead and allocations, and considering the influence that human behaviour and strategic direction have on those processes and the use of this cost accounting information. Learning Outcomes Upon successful completion of this paper, you will have achieved: 1) An understanding of and ability to calculate and apply the costing techniques detailed below under Core Topics 2) Understanding of the interrelationship of these costing techniques with other business functions (e.g. marketing, human resource management, strategy) and their role in real organisations. 3) Problem-framing and analytical skills, information seeking and retrieval skills, problemsolving skills. More specifically you will be able to: 1) Critically evaluate a previously unseen organisational situation for its cost and management accounting issues. 2) Formulate clear ideas about the problems and issues involved, and about any likely further information and knowledge that might be required to deal with the issues identified. 3) Gather the necessary information and knowledge, and re-formulate an understanding of the issues. 4) Apply any necessary analysis and understanding to formulate alternatives to resolve the identified issues. Be aware of the strengths and weaknesses of various alternative courses of action. 5) Recommend a set of actions to resolve the issues. 4) More independence and self-direction in your approaches to learning. 5) An improvement in teamwork skills These learning outcomes concur with the following attributes described in the University of Otago Bachelor of Commerce Graduate Profile ( : Critical thinking, life-long learning, leadership and team skills, interdisciplinary knowledge, business environment and ethics. Core topics are: A) Relevant costing, B) Cost allocation, C) Budgeting and standard costing, D) cost volume profit analysis, E) strategic and behavioural management. Below is a set of learning objectives related to each of these five topics. As you progress through the course, you should use this set of learning objectives as a checklist to gauge your level of understanding and to decide on what further work you must undertake. You should have met all these learning objectives by the end of the course. 3

4 The terms and concepts under these topic headings will arise during the course. However, every week, you are expected to do a considerable amount of reading on these topics for yourself. Most readings will be from the required textbook for the course (HDR15, see page 8), but for some topics and for the case studies, students will need to research in other cost accounting texts (see Close Reserve in Central Library), management and marketing texts, accounting journals (both hard-copy and e- journals) and on the internet. MyAccountingLab (see page 8) is also extremely useful for practice of technical examples. USE THE FOLLOWING LIST AS A CHECKLIST You should ensure that you attend classes, complete course work and read sufficient materials to be able to: A) Relevant Costing / Accounting Information for Decision-Making 1. Explain the concept of relevant costs and relevant revenues and how this is potentially different from the notion of fixed and variable costs. 2. Explain the importance of the time horizon in decision making and its impact on relevant cost/revenue information (e.g., short term operating decisions versus long term strategic decisions). 3. Explain sunk costs and why they are considered irrelevant to decisions. 4. Explain such terms as opportunity costs, avoidable costs, differential costs and incremental costs. 5. Understand that accounts drawn up for financial accounting purposes often blend fixed/variable, relevant/irrelevant costs, and therefore cost accounting information for decision-making often needs to be specifically constructed for the decision at hand. 6. Understand how an income statement can be constructed in a variable (or direct) costing format or a full (absorption) costing format, be able to construct either format from a given set of cost data and reconcile any profit differences. Explain how production volume impacts on absorption costing profit. 7. Undertake analysis in typical decisions (e.g. make or buy/outsource, special order, product pricing and profitability, product mix, customer profitability, add/delete product line/department/customer) for which cost accounting information is required. 8. Be aware of the role of excess capacity in decision-making and its significance for cost analysis. 9. Be aware of the need in the long-run to cover all costs, and of the rather imprecise nature of the notion of short run v long run. 10. Explain and apply the notions of the internal value chain, value-added, product life cycles and product and customer life cycle costs. 11. Understand the concepts of and undertake typical calculations for target pricing and costing, and the cost- plus approach to pricing. 12. Be aware of the limitations of financial analysis for decision-making, and the need to consider other qualitative and strategic factors (see Section E). B) Cost Allocation 1. Explain the notions of overhead costs, indirect costs, direct costs, traceable costs and allocated costs. 2. Explain how accountants choose to create cost centres or cost pools in which to gather together cost data. 3. Explain why and how costs may be allocated from one cost pool or centre to another. 4. Calculate allocations of costs from one cost pool to another e.g., single rate versus dual rate, and support department costs to production departments. 5. Understand that there is no right way to collect costs together and then allocate them. Choices are made in defining cost pools, allocation bases, and methods of allocation. 4

5 6. Construct overhead rates to allocate costs to products or services. 7. Understand how overhead rates are typically predetermined and calculated based on budgeted costs and activity levels. Understand how different assumptions about capacity (activity level) can be made when calculating budgeted overhead rates and calculate these overhead rates. 8. Account for the differences between budgeted overheads and actual overheads. 9. Understand the specific issues involved in the allocation of joint product costs and be able to calculate allocations using the four typical methods. Analyse when a joint product may be further processed, and explain the difference between joint products and by-products. 10. Understand the notion of activity-based costing (ABC). Calculate allocation bases on the basis of cost drivers and then calculate product/job/service costs. Explain the relationship between ABC and activity-based management (ABM). 11. Understand the potential reasons why (/why not) managers of one department (cost centre) should be held responsible for costs allocated to them from another department. 12. Understand how management behaviour (decision-making) might be affected by the various cost allocation choices accountants make, and the ethical implications of this behaviour. C) Budgeting and Standard Costing Systems 1. Understand what a budget is, and how static (master) and flexible budgets are constructed. 2. Explain the concepts behind and benefits to be gained from the use of a standard costing system. 3. Describe the procedures involved in establishing standard costs. 4. Explain what variance analysis entails and is intended to measure. 5. Compute both sales (marketing/output) and input (production) variances at the aggregate level. 6. Separate these aggregate variances into their several components (e.g., purchase price variance, efficiency variance, etc.) through the use of both fixed and flexible budgets. 7. Record production variances in the ledger accounts. 8. Explain favourable and unfavourable, over- and under-applied variances, and know how to dispose of them (directly to COGS or by proration) 9. Understand that the real value of a standard costing system begins when the causes of the variances are analysed. 10. Explain how standard costing fits with such modern management practices as JIT, kaizen, TQM and benchmarking. 11. Explain the concept of learning curves and their relationship to budgeting and undertake learning curve calculations. 12. Understand how management behaviour might be affected by the processes of planning and budgeting, and the ethical implications of this behaviour. D) Cost Volume - Profit Analysis 1. Explain cost behaviour patterns. Segregate these behaviour patterns into fixed and variable cost components. 2. Identify relevant ranges of activity. 3. Describe the relationship between relevant range and linear and non-linear relationships. 4. Explain the difference between discretionary fixed costs and committed fixed costs. 5. Understand the cost volume-profit relationships that exist in a company. 6. Compute (both by formula and graphically) and use breakeven and target profit analysis for one and multiple products. 7. Explain the relationship between the breakeven point and the contribution margin, and how contribution margin differs from gross margin. 5

6 8. Understand that even though breakeven analysis is based on rigid limitations, it can result in effective answers without costly analysis. 9. Calculate how a change in such an input value as sales price, sales mix, or costs can influence the breakeven point (sensitivity analysis). 10. Compute and use the margin of safety ratio. E) Strategic and Behavioural Management 1. Describe the concept of an organisation and what it does. 2. Explain the concepts of organisational mission, goals, objectives and strategies and the part which management has to play in their development. 3. Explain the concept of goal congruence. 4. Explain the concept and phases of management control (planning etc) 5. Understand key features of people s behaviour in organisations and how this can impact on organisational effectiveness. This will include an understanding of: a. groups, group norms, group dynamics and teams b. interpersonal communication and relationships, networking and feedback c. leadership and what makes an effective leader; transactional and transformational leaders d. motivation ( needs theories; expectancy theory), performance measurement and incentives. 6. Describe and apply the Boston Consulting Group Market Growth/Market Share Matrix, SWOT analysis and Porter s strategies for competitive advantage. 7. Explain the following marketing and pricing concepts: a. price leaders b. price takers c. commodities d. premium pricing e. penetration pricing f. market skimming g. product bundling h. loss leaders i. product differentiation j. cannibalization. Teaching Staff Paper Coordinator, Lecturer and Seminar Facilitator (Weeks 7-13) Name: Dr Rosalind (Ros) Whiting Office: Commerce [email protected] Office Hours: Wednesday 3-5pm and Friday 9-10am from 13 April (Week 7) to end of semester Acting Paper Coordinator (Weeks 1-6), Lecturer and Seminar Facilitator Name: Mrs Nicola Beatson Office: Commerce [email protected] Office Hours: Wednesday 12-1pm and Thursday 2-3pm Seminar Facilitator (Weeks 1-6) Name: Dr Sriya Kumarasinghe Office: Commerce [email protected] Office Hours: Monday pm 6

7 The ACCT 222 facilitators have office hours in which students can consult with them about problems with the course material. In the first instance you should meet with your own Thursday seminar session facilitator, but if this is not possible, then you can meet with one of the other ACCT 222 facilitators. For any administrative enquiries about the paper, you should contact Nicola Beatson before the mid-semester break (Weeks 1-6) and Ros Whiting after mid-semester break (Weeks 7-13). Course Delivery Every week students must attend one 50 minute lecture (Tuesday) and two 50 minute seminars (Monday and Thursday at the same time). Your allocated seminar group will be available in evision. Lectures: These will cover key technical material. Lecture Day/Time: Tuesday pm Room: TBA An outline (and usually some data & templates) for the Tuesday lecture will be placed on Blackboard by 5pm on the preceding Sunday. There are no lecture notes posted. You must read the suggested readings before the lecture and bring your calculator in order to work through examples. Seminars: Seminar Day/Time: Monday, Thursday: 9-10am, am or am or pm. Seminars start in Week 1 of the course. Monday and Thursday seminar streams hold around 35 students each. Students are required to stay in the same stream throughout the course and must attend Monday and Thursday of the same stream (ie at the same time). Seminar Stream changes: If you require a seminar stream change due to a clash or late enrolment after formal Course Approval, then this can be done in the first 8 working days of the semester. Last date for stream changes for ACCT 222 is Wednesday 04 March, as your first piece of assessment is due in your seminar class on Thursday 5 March. Please see Accountancy & Finance Department staff in Room 5.51 or Room 5.01 in Commerce Building Level 5 each weekday from 10 11am or 2-3pm only. Stream time Seminar Venue (Monday and Thursday) Monday Seminar facilitator Thursday Seminar facilitator Weeks 1-6 Weeks 7-13 Before midsemester After mid (Before midsemester (After mid break semester break break) semester break) 9am CO220 Nicola Beatson Ros Whiting Sriya Ros Whiting weeks 1-3 Kumarasinghe 10am CO220 Sriya Ros Whiting 11am CO220 Sriya Kumarasinghe- Kumarasinghe Nicola Beatson Nicola Beatson 12pm CO220 weeks 4-6 Nicola Beatson Nicola Beatson Seminars are run interactively and are used for practice of further examples related to the lecture content, discussion of homework questions, real business video clips and for student business case 7

8 presentations. It is expected that students will access copies of (and attempt) the exercises in HDR15 and the teacher-led business cases before coming to the seminar class. You must bring a calculator and be prepared to work on examples in the class. In the Monday sessions of weeks 5, 6 and 12, there will be some set homework questions (posted on Blackboard) that you must research in HDR15 and on the internet before coming to the class. The course calendar (pages in this outline and online on Blackboard) details semester dates, lecture and seminar topics, readings, and assessment related scheduling information. Note that this calendar may change as the course proceeds. Any changes will be announced at lectures and detailed on Blackboard. Students are expected to prepare for and attend all classes to gain full benefit from the course Students unable to attend a lecture or seminar are expected to catch up on missed material from the textbook or classmates. All topics covered in the course are potentially examinable. In the event of snow, the University remains open. The ACCT 222 staff will make every attempt to hold seminars and lectures. Expectations and Workload You are expected to spend 180 hours working on this course. As a guide you should spend these approximate amounts of time on each of the following activities: Hours Lectures and seminars 39 Group case study 21 Other case studies 15 Problems and Case Scoping 25 Reading/self study/homework tasks/exercises 80 TOTAL 180 Course Materials and Course Resources Essential Resources Required Textbook - Horngren, C.T., Datar, S. M., and Rajan, M. (2015). Cost Accounting: A Managerial Emphasis, 15 th edition (Global Edition), Essex, England, Pearson Education. (=HDR15) [This is a new edition of the textbook that was used in this course in previous years and is available either as a sole textbook or combined in a coursepack with a MAL access code (see below)] Business cases : Available on Blackboard under Course Documents>Business Cases. Blackboard Access automatic access with enrolment in ACCT 222 (see page 9) Optional Resource which is highly recommended: MyAccounting Lab (MAL), which is a computer-based interactive learning and practice set available on To access MAL you need a student access code which is available with the purchase of a new coursepack version of HDR15 or it can be purchased online (GBP24.99 (NZD$52 approximately) from Full instructions can be found on Blackboard under Course Information. 8

9 UBS holds copies of the HDR15 textbook and the combined textbook/access code coursepack. If textbook cost is an issue, the 14 th Global or US editions of HDR (used in in this course) will suffice but are not ideal (all readings and exercises will be specified in terms of the pages and exercises in HDR15 and one assignment requires the student to specify readings in HDR15). Also you will not get access to MyAccountingLab and all its practice examples with a second hand textbook, unless you make an additional purchase of the usercode from Pearson (see page 8). Hard copies of the required textbook, the Student Solutions Manual (even-numbered questions) to HDR (13 th edition, before the advent of MyAccountingLab), a student study guide and a range of other useful cost and management texts are available under Course Reserve at the Central Library. The University Library provides online resources for students. These include subject guides, and other research resources, and citation styles. Check it out at Blackboard Blackboard provides you with access to course materials (e.g.lecture outlines, homework tasks, problem assignments, business case studies etc), and class notices are posted on Blackboard. Blackboard is used to the whole class so it is important that you check your student and Blackboard regularly. You will find helpful links to the Library referencing page, the Student Learning Centre, and writing resources in Blackboard. IMPORTANT - DO THIS NOW: Forward your University address to an address that you use regularly as follows: 1. Log into your StudentMail account using your student username and password 2. Click Cog button (top right corner) > Options 3. Under Account, select the Forward your shortcut under the Short Cuts menu on the right side of the screen. 4. Under the Forwarding heading, type in the address you want your to be forwarded to. You can also choose to have a copy of these s kept on your StudentMail account, so please check the box if you would like this. 5. Click the Start forwarding button. Assessment All material presented is examinable by assignments and the final examination. All important assessment information such as due dates and times, content, guidelines and so on is provided in this course outline and will be discussed at lectures and, where appropriate, detailed on Blackboard in the week prior to each assessment. Students are responsible for ensuring that they are aware of this information, keeping track of their own progress, and catching up on any missed classes. 9

10 Task Contribution to final Course Grade Problems (best 2 of 3) 14% Case Study Scoping 6% Group Case Study- presentation 15% Group Case Study summary report 10% Final Exam 55% TOTAL 100% Details of the assessment tasks follow: 1) Three Weekly Problems 14%. At the conclusion of the lecture on Tuesday in Weeks 2, 4 and 6, a problem relating to the weekly reading and lecture material will be placed on Blackboard. Students should undertake this problem and submit their attempts by the following Thursday morning. These can either be submitted in person in your own Thursday seminar or to the ACCT 222 dropbox on level 3 of the Commerce building (near the Divisional Office) before Thursday 9am. Late assignments will not be accepted. No assistance will be provided by the ACCT 222 teaching staff (do NOT us) but a model solution will be placed on Blackboard on the Thursday afternoon. Students can work together on the solving of the problem, but the submitted problem answer must be the student s own work and typed or handwritten by that student alone (see page 18).The two best weekly problem marks will count for 14% of your total course grade. You should plan to do all three of these problems to help in your learning of techniques, but also in case you are unable to do one of the problems because of illness, snow, sports trip etc. The fact that the poorest weekly problem does not count, allows for an occasional absence and you should not attempt to seek a dispensation for occasional absences. However, in the case of an extended absence (e.g. chronic long term illness), or hospitalization, you should see the course coordinator. 2) Case Study Scoping 6%. How to attempt case studies and to carry out a case scoping will be discussed in the Monday seminar in Week 3. A Case Study Scoping is due on Thursday 27 March (Week 5). You can either submit it in person in your Thursday seminar or place it in the ACCT 222 dropbox on level 3 of the Commerce building (near the Divisional Office) by Thursday 9am on 27 March. Late assignments will not be accepted. The Case Scoping will be based on the case Horizon Insurance which is available under Assignments on Blackboard. The Case Study Scoping must preferably be typed (handwritten is acceptable but it MUST be legible) on the page provided in Appendix 1 of the Course Outline (and on Blackboard). You must fill in the gaps on the page in relation to the case Horizon Insurance and this Case Study Scoping must NOT exceed more than one page (minimum size font of 10, Times Roman or Calibri font). 25% of your mark will be deducted for submissions larger than 1 page or for not adhering to the font requirements. Students can work together on the Case Scoping, but the submitted work must be the student s own work and typed by that student alone (see page 18). Note that referenced pages must be from HDR15 and NOT from other editions of HDR. 10

11 3) Group Case Study 25%. There is no option with this activity. This consists of a group presentation in class (15%) plus a written Case Summary Report (Appendix 2 and on Blackboard) (10%). Presentation and submission requirements are discussed in more detail on pages While you may discuss ideas surrounding the issues and possible solutions with your fellow classmates and groups in other streams, your presentation and submitted calculations and references must be your own group s work. A copy of the Case Presentation Assessment Guidelines and Written Report Assessment Guidelines are found in Appendices 3 and 4 (pages 21-22). The final marks for the group case presentation and report are a combination of the instructor s assessment (70%) and self and peer assessment (30%). A copy of the Self and Peer Assessment form and a description of how the weighted marks are calculated are included in Appendices 5 and 6 (pages 23-24). Failure to provide your completed Self and Peer Assessment form to your seminar facilitator by 5pm on the day of your case presentation (in class or by ) will mean that you receive a weighting that is the lower of 0.5 or the weighting provided about you by your other group members. You can use the Self and Peer Assessment form provided on page 24 or download a copy from Blackboard. 4) Final Exam 55%. 3 hours long consisting of one case study and 3 smaller problems. Further details will be provided one month before the examination. The final examination is NOT open book, but you will be provided with a formula sheet. Only the University approved calculators (Casio FX82, Casio FX100, Casio FXZ100, Casio FX570MX, Casio FX95SG and Sharp EL531) are allowed to be used in the ACCT 222 final examination. The ACCT 222 facilitators constantly interact to ensure that equity in internal assignment grading is maintained across streams. If at the end of the semester it can be demonstrated that the overall grades (not just on a particular assignment) from one lecturer s streams are statistically different from the grades of the other lecturer s streams, and no plausible explanation exists, then an adjustment to the grades will be made. The grades of the lower scoring stream(s) will be scaled up to the higher scoring stream(s). Internal assessment grades will be entered on EVision throughout the course. You should check that the recording of your marks is correct. If there are any problems with the recording, please see the Course Coordinator as soon as possible. Please retain all your assessed pieces of work throughout the semester, so that you can verify your marks should any problems occur. Course Requirements Submission requirements for the internal assessments are discussed in the preceding section. To successfully complete the course, a student must achieve at least 45% on the final exam. Exceptional internal marks will not be used to cross-subsidise poor final examination performance. If students achieve less than 45% in the final exam but their calculated course marks are greater than 50% then they will still fail the course and this will designated by the words Failed compulsory assessment on their final course results. i.e. no final grade or mark will be shown. In our experience, failure of the course is usually due to failure to achieve the minimum mark on the exam, not poor internal assessment marks. Usually around 75% of students pass ACCT

12 Exam Group Business case (presentation & summary report) Business Case Scoping Three weekly problems ACCT 222 Terms requirements To be eligible to sit the final exam, students must have: 1) Met the presentation requirements of their group business case study and submitted a group Summary Report (pages and Appendix 2 (page 20)); 2) Attended at least 3 of the other 5 student business case presentations that are not their own (ie 67% of the possible group case presentations) held in the seminars from week 7 to week 12 inclusive. Quality Assurance At the Otago Business School we monitor the quality of student learning and your learning experience. Your assessed work may be used for assurance of learning processes, such as evaluating the level of achievement of learning outcomes, with the aim of improving the quality of our programmes. All material used for quality assurance purposes will be treated as confidential and the outcome will not affect your grades. Assessment Grid Learning Outcome 1) An understanding of and ability to calculate and apply specified costing techniques 2) Understanding of the interrelationship of these costing techniques with other business functions 3) Problem-framing and analytical skills, information seeking and retrieval skills, problem-solving skills. 4) More independence and self-direction in your approaches to learning. 5) An improvement in teamwork skills Total 14% 6% 25% 55% The grading scheme used at Otago is: A C A C A C B D B E <40 B

13 Lecture and Seminar Timetable The schedule of lectures, seminars, cases, readings and assessment tasks is on the following 2 pages. These are VERY IMPORTANT pages! For your best learning outcomes you should read the suggested readings, and attempt the homework and seminar questions before class. Bring the questions with you to the seminar. Week Date Monday seminar Tuesday lecture Thursday seminar Assessment Tasks Decision Making and Store 24 Decision Feb Relevant Information making DVD (Academ ic week 9) Introduction to course; Value chain & valueadded; decision-making; organizations DVD Regal Marine (if time) Reading: HDR15 Chap S2 Final exam Q3 (you can find exam on Blackboard) March March Reading: Course Outline, HDR15 Chap 1 and pgs 238, 547 and 865 Introduction to Overhead allocation and cost allocation bases S1 Final exam Q3b Reading: HDR15 pgs , 364, 374, 396-8, 541, Student Business Case Study instructions, Case Study Scoping instructions Overhead allocation (plantwide vs departmental) and introduction to single & dual rates, actual & budgeted Reading: HDR15 pgs 193-4, Capacity and allocation Reading: HDR15- pgs 365-8, Completion of single and dual rates, actual and budgeted : HDR15 HDR15 Exs and Business Case Group Allocation. HDR15 Ex 9.31(1) Problem 1 due Thursday 5 March March March 6 30 March 3 April Reading : Course Outline, Referencing documents (Blackboard), Internet, HDF15- pgs ) Breeden Electronics A* (Quantitative solution on Blackboard at 1pm) Homework Questions No 1 (TQM, kaizen, benchmarking, product lifecycles, BCG and SWOT) DVD Dell computers (if time) Reading: HDR15 pgs 30-31, 242-3, , 553, 757-8, Blackboard/internet Homework Questions No 2 (marketing terms, strategy, leadership) Cost behavior, CVP and Breakeven Reading: HDR15 Chaps 2 and 3 and pgs Service/Support department allocations Reading : HDR15 pgs , Activity Based Costing and Customer Profitability Analysis Reading: HDR15 pgs , , , Learning Curves Reading: HDR15 pgs HDR15 Ex CAVCO DVD HDR15 Ex 5.20 (2-4) Pricing, Strategy, Porter and competitive Problem 2 due Thursday 19 March Case Scoping Horizon Insurance due Thursday 26 March Problem 3 due Thursday 2 April 13

14 6-10 April April April 9 27 April 1 May Reading: HDR15 pgs 220, 495-8, 636-8; BSNS 103 & 105 notes and texts/internet Standard costing introduction. Just- in- Time DVD Wheeled Coach Job Costing Reading: HDR15- pgs 142-9, 155-7, , DVD McDonald s flexible budgets HDR15 Ex 7.24 ANZAC Day Holiday (Ex answer provided for self -study) May Proration of overhead variances HDR15 Ex 4.30 Reading: HDR15 pg , advantage Reading: HDR15 Chap 13; pg 496 Mid semester break (3-12 April) Flexible Budget Input variances (direct materials and direct labour) Reading: HDR15 Chap 7 Flexible Budget Input variances (Manufacturing overhead) Reading: HDR15 - Chap 8 (pgs , 335-7) Sales variances Reading: HDR15- pgs 275-8, Joint Costing Reading: HDR15 Chap 16 (pgs , ) Absorption Costing vs Variable Costing 14 CS1 Presentation The Saw Blades at Leeds CS2 Presentation- RC Blake Co CS3 Presentation Rosemont Hill Health Centre CS4 Presentation- Jones Ironworks 1st group presentation and report due Thursday 16 April 2 nd group presentation and report due Thursday 23 April 3 rd group presentation and report due Thursday 30 April 4 th group presentation and report due Thursday 7 May 5 th group presentation and report due Thursday 14 May Further processing and CS5 Presentation May HDR15 Ex 16.19(4 last part) Bellaire Labs B Clinical Reading: HDR15- Reading: HDR15 pgs 666-8, 673 Chap 9 (pgs , ) Homework No 3 (needs Performance CS6 Presentation 6 th group May theories, management evaluation and Wendy s Chili presentation control, motivation) incentives: and report Readings: HDR15 pgs Reading: HDR15 Chap due Thursday 862-5,915-8; BSNS May notes/management texts/internet S2 Final exam Q4 Life cycle costing Revision Input May (includes 2014S2 variances- *Wilmont final exam Q2) Chemical (Quantitative Reading: HDR15 pgs solution on Blackboard at 1pm) Lectures end Friday 29 May, 2015 University Exam Period First Semester Begins Wednesday 3 June 2015 Ends Wednesday 17 June 2015 *Extended exercises found on Blackboard>Course Documents>Extended Exercises. Solutions to the quantitative calculations of these 2 extended exercises will be placed on Blackboard at 1pm after each exercise is completed in class (16 March and 28 May).

15 Business Case Studies: As well as traditional lectures and seminar practice problems, ACCT 222 uses a case-based approach to learning. In weeks 7-12, groups of students will present to their seminar class on 6 different and relatively unstructured cost and management case studies. Students will be randomly allocated to one of the 6 business case groups in the Thursday seminar session of Week 3 (12 March). Guidelines on undertaking cases and the Case Study Scoping will be provided in the Monday seminar of Week 3 (9 March). It is also a Terms requirement that as well as your own business case study presentation, you attend at least 3 of the 5 other presentations (see page 12). At least one week prior to the group s business case presentation, the group members responsible for that particular case study should arrange a meeting with your Thursday seminar facilitator to discuss the direction of their business case study, the presentation and the Summary Report. Students will need to undertake SWOT and BCG analyses, identify the problems/issues involved in the case and establish some specific learning objectives (e.g. understanding cost concepts, analytical skills), to help them to analyse the case. They need to explore 3 or 4 alternatives for solving the case study issues and from those alternatives choose and justify an appropriate solution. These cases are used to simulate situations that you may encounter in your future employment. At the beginning of the presentation to the class, the group must provide the seminar facilitator with its Case Summary Report, which must not be more than 5 pages long (plus References and Title page). The presentation should be 40 minutes long 1 (incorporating class participation), leaving time for feedback from the seminar facilitator and marking of the attendance roll. All members of the group must present. The cases and questions assigned to each case are found under Course Documents on Blackboard. The presentation must cover background, issues, alternatives, analysis of alternatives, recommendations and conclusions, but can be in an inventive/creative format. Questions at the end of the case are for guidance as to possible calculations. The presentation should not be in the form of a list of answered questions. Two items are required from the presenting groups by 5pm on day of the presentation: 1. Electronic copy of group s Case Summary Report (titled casename Thursday seminar facilitator s initials timeofclass in.doc or.docx format (not pdf or xls) e.g. HydrochemRW10.docx) should be submitted through Blackboard. (Go to Blackboard>Assignments>Group Case Summary Report> Your case s name. Click on the "Browse" button to locate the file on your computer, and then double-click it to select it. Click Submit. If you click "Save" instead of "Submit", your file will NOT be submitted! You should see a message like this: The assignment has been updated ). These files will be checked by SafeAssign for similarities against each other and published resources. 2. All group members completed confidential Self and Peer Assessment forms should be submitted at your presentation or ed to your Thursday seminar facilitator by 5pm on the day of the presentation. Failure to do so will mean that you receive a weighting in the peer assessed part of the case study evaluation (see page 11) that is the lower of 0.5 or the weighting provided about you by your other group members. One to two weeks later, marking sheet and individual weighted marks are returned to the students in the group. All streams group Case Summary Reports, after being annotated with instructor comments, will be scanned and an e-copy will be placed on Blackboard (absent any student names or grades and unless any student in the group refuses permission to do so) for other students to consult. We do not provide model solutions for the group case calculations for several reasons: minutes is acceptable 15

16 1) The calculations provided by the experienced case writers are often more complex than we expect from ACCT222 students. 2) The annotated comments provided on the student Case Summary Reports will indicate sound and faulty reasoning. 3) Students can learn from the wide variety of alternative solutions suggested by the groups. 4) Model calculations provide plagiarism temptation for students attempting these cases in future years. Class Representatives The class (or student) representative system is an avenue for encouraging communication and consultation between staff and students. It provides you with a vehicle for communicating your views on the teaching and delivery of the paper and provides staff with an opportunity to communicate information and gain constructive feedback from students. It contributes to the development of a sense of community within a department and it adds a further dimension to the range of support services offered to students. Volunteers for the role of class representatives will be called early in the semester. There will be one from each of the Thursday seminar streams. The OUSA invites all class representatives to a training session, conducted by OUSA, about what it means to be a class representative and some of the possible procedures for dealing with issues that arise. They also provide information on the services that OUSA offers and the role OUSA can play in solving problems that may occur. The OUSA provides support to class representatives during the semester. Departmental staff will also meet with class representatives during the semester to discuss general issues or matters they wish to have considered. Student Learning Centre and Library Support Student Charter Guidelines for Learning at Otago Student Learning Centre The Student Learning Centre, which is part of the Higher Education Development Centre, provides learning support, free of charge, to ALL enrolled students. Their services include: a workshop programme designed to help students to improve their learning strategies and their generic skills; individual assistance with learning issues; on-line study skills advice; a student leadership programme a student-led peer support programme for students of all ages and backgrounds. 16

17 conversational English groups for students from a non-english speaking background The Centre also provides two very helpful study guides, Guidelines for Writing and Editing and Writing University Assignments and these are available on the SLC website. Library Support The University Library provides online resources for students. These include subject guides, and other research resources, and citation styles. Check it out at: The Library website provides online access to resources and services, including group room bookings, library hours and locations, past exam papers, subjects guides and more. From your mobile: Māori Student Support Tënā koutou katoa, Ko Corey Bragg töku ingoa Ko Ngāi Tahu, Kāti Mamoe, Waitaha me Ngāti Kahungunu öku iwi Kia ora, my name is Corey Bragg and I am the Māori student support person in the Business School. My role is to help link Māori students with the various support networks throughout the university and the community. Kaua e whakamā, don't be shy - come in for a chat. Mauri ora mai. Tel [email protected] Room CO 3.21 Nicola Beatson is the Kaiāwhina Māori in the Department of Accountancy and Finance Tel [email protected] Room CO5.32 Pacific Islands Student Academic Advisor Warm Pacific Greetings Talofa lava, my name is Esmay Eteuati and my role is to liaise with Academic Departments and Student Services relating to Pacific students and their course of study. I support both staff and students in the Business School and have a network of Pacific contacts in other Divisions around the University. Tel [email protected] Disability Information and Support Students are encouraged to seek support if they are having difficulty with their studies due to disability, temporary or permanent impairment, injury or chronic illness. It is important to seek help early, through one of the contacts below: Dyna Seng Tel [email protected] Room CO

18 Dishonest Practice and Plagiarism Students should ensure that all submitted work is their own. Plagiarism is a form of dishonest practice (cheating). It is defined as copying or paraphrasing another s work and presenting it as one s own. Any student found responsible for dishonest practice in any piece of work submitted for assessment shall be subject to the University s dishonest practice regulations, which may result in serious penalties, including forfeiture of marks for the piece of work submitted, a zero grade for the paper, or in extreme cases, exclusion from the University. The University of Otago reserves the right to use plagiarism detection tools. Students are advised to inform themselves about University policies concerning dishonest practice and take up opportunities to improve their academic and information literacy. If necessary, seek advice from academic staff, or the Student Learning Centre. The guideline for students is available at this link: The Library resource on ethical use of information is available via this link: Concerns about the Course We hope you will feel comfortable coming to talk to us if you have a concern about the course. The Course Coordinator will be happy to discuss any concerns you may have. Alternatively, you can report your concerns to the Class Representative who will follow up with departmental staff. If, after making approaches via these channels, you do not feel that your concerns have been addressed, there are University channels that may aid resolution. For further advice or more information on these, contact the departmental administrator or head of department. Disclaimer While every effort is made to ensure that the information contained in this document is accurate, it is subject to change. Changes will be notified in class and via Blackboard. Students are encouraged to check Blackboard regularly. It is the student s responsibility to be informed. 18

19 Appendices APPENDIX 1 ACCT 222 CASE STUDY SCOPING HORIZON INSURANCE (1 page only, minimum size 10 font, Calibri or Times Roman) Name: Seminar Time: Background: Main Issue or Problem: Three Possible Mutually Exclusive Alternatives that Might be used to Solve the Problem (these must not include the status quo (current practice) and should include at least one alternative that is not mentioned in the case): Alternative 1. Quantitative Techniques that you would use + Reason Qualitative Issues that you could discuss + Reason Suggested reading (pages) in HDR15 (2015) Mark (out of 6)

20 APPENDIX 2 ACCT 222 GROUP CASE SUMMARY REPORT 1. Information to go on detachable title page Case Study: Stream Time: Group Members: 2. Report Contents(Start on new page, maximum 5 pages, size 12 font) Background : SWOT Analysis: Strengths Weaknesses Opportunities Threats BCG Quadrant and why? Main Issue/s or Problem/s: [some analysis may be appropriate here] 3-4 Mutually exclusive alternatives for Solving the Issue/s/Problem/s: Analysis of Alternatives (quantitative and qualitative): [you will definitely need to expand this section] 1. [details, assumptions and summary] 2. [details, assumptions and summary] 3. [details, assumptions and summary] 4. [details, assumptions and summary] Chosen Alternative. Why?: References: [additional separate page, one consistent referencing style] 20

21 APPENDIX 3 ACCT 222 GROUP CASE STUDY ASSESSMENT CASE PRESENTATION Case Study: Stream Time: Group Members: Excellent Good Adequate Poor 1) Presenters were clear and audible? 2) Presenters sound and appear interested, confident and enthusiastic about what they are doing? 3) Group works well together and supports each other? 4) Structure- clear overview so that the class can easily follow the presentation? 5) Creativity/inventiveness of presentation? 6) Appropriate powerpoint, handouts, etc are used? 7) Presentation clearly conveys thorough and careful preparation? 8) Evidence of extra research (e.g journal articles)? 9) Class is interested and involved? 10) Presentation time is well managed? 11) Case issues are clearly identified? 12) Alternative courses of action are identified? 13) Appropriate analysis is employed to examine the alternative courses of action? 14) Clear and specific conclusions are presented? 15) The conclusion is logical and convincing? Other comments (if applicable) Overall Group Presentation Mark (out of15) (Note: there are no set rules about how performance on the above dimensions are added together to form an overall impression of your presentation and thus grade). 21

22 APPENDIX 4 ACCT 222 GROUP CASE STUDY ASSESSMENT CASE SUMMARY REPORT Case Study: Stream Time: Group Members: Excellent Good Adequate Poor 1) Case report uses the Case Summary form and keeps to the presentation specifications for the Report? 2) Evidence of proofreading and polished presentation in the Summary Report? 3) Strong SWOT and BCG analysis? 4) Case issue/s are clearly identified? 5) Sound cost analysis is used employed to examine the issues? 6) Plausible alternative courses of action are identified? 7) How the alternatives might solve the issue/s is fully explored? 8) Sound analysis (quantitative and qualitative) is employed to analyse the alternative courses of action? 9) Analysis of each alternative is summarized succinctly? 10) Appropriate and clearly justified choice of alternative? 11) Evidence of extra research (e.g. journal articles)? 12) Citations and Reference list in good form? Other comments are on the report Overall Group Summary Report Mark (out of10) (Note: there are no set rules about how performance on the above dimensions are added together to form an overall impression of your presentation and thus grade). 22

23 APPENDIX 5 NOTES ON THE CALCULATION OF GROUP BUSINESS CASE MARKS The group is awarded a group mark which forms 70% of each student s final grade for the group case study activity. The other 30% is determined by self and peer assessment ratings. In the following example the students have been awarded a group mark of 20 out of 25 (12 for their presentation and 8 for their written report). This forms 70% of their final grade for the case (i.e.14). The other 6 marks (i.e. 30% of 20) are modified for each individual student depending on their self and peer assessments. The rating scheme used is: 3=major contribution 2= some contribution 1=minor contribution 0= no contribution -1=a hindrance to the group The group s self and peer assessment were as follows: Marks awarded to: Marks awarded by: Contribution to the presentation Contribution to the summary report Total for each member Jason Soo Nam Brad Jason Soo Brad Jason Soo Brad Jason Soo Brad Nam Nam Nam Average score = ( )/3 = 14 Weightings for the self and peer assessment portion of the final grade Jason s rating = 15/14 = 1.07 Soo Nam s rating = 16/14 = 1.14 Brad s rating = 11/14 = 0.79 Final grades for the group case activity (out of 25): Jason gets 14 + (1.07 x 6) = 20.4 Soo Nam gets 14 + (1.14 x 6) = 20.9 Brad gets 14 + (0.79 x 6) = 18.7 Adapted from University of Canterbury 23

24 APPENDIX 6 SELF AND PEER ASSESSMENT FORM AND PERMISSION FOR REPRODUCTION Your final mark for the group business case (out of 25%) is determined by the instructor s assessment of your group presentation (15%) and Case Summary Report (10%), plus self and group peer assessment of your contribution to this task. The instructor awards a group mark, which forms 70% of your final grade. The other 30% is determined by the self and peer assessment ratings (see Appendix 5). Case Study: Stream Time: Name: Please fill in the names of the members of your group (including yourself) and rate their individual contributions to the group case assignment. The rating you should use is: 3=major contribution 2= some contribution 1=minor contribution 0= no contribution -1=a hindrance to the group Assessment Group member No.1 Your Name:. Group member No.2 Name:.. Group Members Names Group Group member member No.3 No.4 Name: Name: Group member No.5 Name:.... Group member No.6 Name:.... Contribution to the presentation Contribution to the group Case Summary Report Total I do not give permission for my groups calculations and references to be made available to students through Blackboard even though the group members names and grade will be removed before placing it on Blackboard Signed (Student s signature) (only sign if you do NOT give permission) Important Note: This completed form must be provided to your Thursday seminar facilitator at the time of your group s presentation OR ed to her by 5pm on the day of the presentation. Failure to do so means that your weighting for the self and peer assessment portion of the group case final grade will be set at the lower of 0.5 or the weighting provided about you by your other group members. 24