FACULTY OF MANAGEMENT COST ACCOUNTING MGT 3130 Y SPRING 2016

Transcription

1 FACULTY OF MANAGEMENT COST ACCOUNTING MGT 3130 Y SPRING 2016 WEDNESDAYS, 6:00PM to 8:50PM Room: N418 INSTRUCTOR John Clarke [email protected] OFFICE HOURS COURSE MATERIALS Required Textbook: Optional Learning Tool: Wed 5:00 to 6:00pm or by appointment Cost Accounting: A Managerial Emphasis, 6 th Canadian Edition by Horngren, Foster, Datar and Gowing Prentice Canada. ISBN-13: (print copy only) ISBN-13: (print + etext and access card package) (Order through bookstore.uleth.ca) MyAccountingLab linked to the course textbook. The code is clarke48364 PREREQUISITES/ CO-REQUISITES/EQUIVALENTS ECON 1010 AND ECON 1012 AND MGT 2400 AND STAT 1770 OR Admission to the Professional Diploma in Accounting AND MGT 2400 ***All pre-requisite courses must have a minimum C- grade. MGT 3130 Y Spring

2 COURSE DESCRIPTION The study of cost systems and the development of cost information, cost management and the use of cost information in managerial decision making. Topics include: cost terminology and cost behaviour, product costing (job order, process and operations costing), cost allocation including activity-based costing, variable costing, cost estimation, cost-volume-profit analysis, and using cost information to make cost, revenue, production and quality decisions. This course seeks to develop analytical and problem-solving skills. COURSE LEARNING OBJECTIVES This course is designed to provide you broad coverage of cost accounting principles and methods that form an important foundation for more advanced cost accounting and management accounting topics. PROBLEM SOLVING PRACTICE An important element of learning cost accounting is the practice of solving cost accounting problems. The Class Schedule shown at the end of this document includes suggested end-of-chapter exercises. The solutions to these and all end-of-chapter exercises will be made available to you. Some students like to also have access to practice problems in the MyAccountingLab course linked to the textbook for this course. If you wish to use MyAccountingLab in this course, you should follow the registration procedures for MyAccountingLab at the following web page: The course code that you will need is: clarke48364 METHOD OF ASSESSMENT ASSIGNMENT VALUE DUE DATE Quizzes (n=9) 5% Various - see Class Schedule below Mid-Term Exam #1 29% February 3 Mid-Term Exam #2 29% March 16 Final Exam 35% April 20 Professionalism 2% throughout the term Total 100% PERFORMANCE ASSESSMENTS 1. Quizzes These are designed to solidify your understanding of cost accounting concepts and problem-solving techniques covered in the course. Quizzes will cover the chapter material assigned for that particular class meeting. If you miss one or more quizzes, substitute scores for those missed quizzes will be calculated by multiplying the weighted-average percentage of your exam scores (mid-term exam #1, mid-term exam #2 and the final exam) by the total quiz points available on those quizzes that you missed. MGT 3130 Y Spring

3 Examples: #1 You attend every class, take all 9 quizzes, and achieve scores of 80, 90, 100, 100, 70, 50, 80, 70, and 98 (out of total maximum points of 100). The average of these nine quizzes, 82, is your overall quiz score and will be weighted 5%, as per the table above, in arriving at your total course points. #2 You take six of the nine quizzes and achieve scores of 80, 90, 100, 100, 70, and 50 (a sum of 490). For the three quizzes that you missed, substitute scores will be based on your exam scores. Your scores on the two mid-term exams and the final exam, respectively, are 77, 75 and 79. The three exams are worth 29%, 29%, and 35%, respectively, of course points, which represents a total of 93%. The overall exam percentage used to calculate your substitute quiz score is: (77 x 29/93) + (75 x 29/93) + (79 x 35/93) = 77.13%. The substitute scores for the three quizzes that you missed is calculated as: 3 x 100 x 77.13% = The total of your nine quiz scores is therefore = , or an average of for the nine quizzes. This overall quiz score of will be weighted 5%, as per the table above, in arriving at your total course points. Make-Up of Quizzes. There will be no make-up of quizzes. As explained above, if you miss one or more quizzes, then the weighted-average percentage of your exam scores will be used to arrive at substitute scores for those missed quizzes. 2. Mid-Term Examinations There will be two mid-term examinations, each covering material from the textbook chapters as indicated below in the course schedule. They will be composed of a combination of multiple choice questions and problems. Make-Up of Mid-Term Exams. There will be no make-up of mid-term examinations. If you miss one or both of the mid-term examinations, the chapters covered by the mid-term examination(s) that you missed will be tested on your final examination. (Your final exam will be different from the regular final exam taken by those students who took both mid-term exams during the term.) The percentage that you score on your final exam will be used as your exam score for the mid-term exam(s) that you missed. Example: You missed the first mid-term exam, scored 75 (out of a maximum of 100 points) on the second midterm exam, and scored 79 (out of a maximum of 100 points) on your final exam. Your substitute score for the first mid-term exam that you missed is therefore 79 (your final exam score). Your scores for midterm exam #1, mid-term exam #2, and the final exam, therefore, are 79, 75 and 79, respectively. 3. Final Examination The final examination will test material from the chapters covered after the second mid-term exam plus a few other chapters from the mid-term examinations, to be determined later in the course. However, as noted above, if you miss one or both of the mid-term examinations, all of the chapters covered by the mid-term examination(s) that you missed will be tested on your final examination. If you were to miss both mid-term examinations, your final examination would therefore be fully comprehensive, testing material from all textbook chapters covered in the course. Use of calculator on examinations: the only type of calculator that will be allowed on examinations is one with basic mathematical functions (addition, subtraction, multiplication and division). MGT 3130 Y Spring

4 4. Professionalism The professionalism component of course points is a qualitative component based on instructor assessment. Highly professional conduct is reflected in words and actions that contribute to positive learning for yourself and other students in the class. Lack of professional conduct is reflected in words and actions that have the opposite effect. This course component is largely exception-based, i.e., it will ultimately affect your overall percentage of course points only in cases of exceptionally high or exceptionally low professionalism. More than likely, for most if not all students the professionalism score will simply reflect the student s weightedaverage of scores on course assignments, i.e., quizzes and exams. In exceptional cases, the instructor will assign a professionalism score that reflects a percentage of course points that is less than or greater than the weighted-average of scores of the student s assignments. Depending on his assessment, the instructor may assign a professionalism score anywhere between a range of 0 and 100. GRADING SCHEME Percent Mark Letter Grade Percent Mark Letter Grade A A A B B B C C C D D 0-49 F COURSE POLICIES 1. Prerequisites. It is the responsibility of students to check the prerequisites for courses before registration. If students are found to be registered in a course for which they do not have the prerequisites and they have not received prior permission from the appropriate program chair, they can be de-registered. If this occurs after the drop/add date, tuition will not be refunded. 2. Mid-term Examinations and Quizzes. Missed mid-term examinations and quizzes are handled as previously described above. 3. Final Examinations. Students who fail to write final examinations must provide satisfactory evidence of illness or extenuating circumstances AND must have the approval of the Dean for a makeup exam. Work commitments, holidays or traffic are not considered legitimate reasons for missing an exam. For unsubstantiated missed final exams that are not approved for makeup by a Dean, a grade of F (0 marks) will be given. Deferred final exams can only be written at times set by the school and instructor. Please note that if a final exam deferral is granted, the date will be set by the instructor and department. Students who fail to write a deferred final examination must provide satisfactory evidence of illness or extenuating circumstances AND must have the approval of the Dean for a makeup exam. Work commitments, holidays or traffic are not considered legitimate reasons for missing an exam. For missed deferred exams, a grade of F (0 marks) will be given. 4. Conduct of Examinations: The instructor may articulate regulations for late entry to and early exit from the examination room. Instructors may also prescribe or restrict materials that may be used during the exam. No material aids including such items as: mobile phones, computers, or other digital devices, may be brought into the examination site without prior approval from the instructor. Please see additional examination policies in the 2015/2016 University Calendar, page 80. MGT 3130 Y Spring

5 5. Importance of following instructions: It is important that you carefully read and follow the instructions for all assignments. Failure to follow instructions may and likely will result in points being deducted, at the instructor s discretion, from your assignment score. 6. Academic Dishonesty and Plagiarism: Academic Dishonesty and Plagiarism will not be tolerated and will automatically result in a zero grade for the submission. Any student caught plagiarizing may also be subject to additional University sanctions. The University of Lethbridge subscribes to an electronic plagiarism detection service. Students may be required to submit their written work in electronic form for plagiarism checking. 7. Student Conduct: The University s policies are described in the calendar and all students are expected to read, familiarize, and comply with them. Special care should be taken to understand the Student Discipline Policy for academic and non-academic offenses as listed in part 4, sections 4 through 8 of the 2015/2016 Academic Calendar. Students will respect the basic standards of intellectual integrity, including, but not limited to, refraining from plagiarism, cheating or duplicating someone else s work. In addition, students are expected to take an active role in encouraging other members of the academic community to refrain from academic dishonesty, and are asked to advise the instructor if they are aware of any such violations. This provision applies to any work submitted as a group project. CLASS SCHEDULE Below is a tentative outline. Recognizing that teaching excellence requires a degree of flexibility and responsiveness to both students' needs and emergent circumstances, adjustments to the course outline may sometimes be necessary, provided that no student is disadvantaged by the change. Class Date Class Meeting Topic The Accountant's Vital Role in Decision Making; 1 06 Jan An Introduction to Cost Terms and Purposes; Cost-Volume-Profit Analysis Chapters Covered 1 1, 2, Jan Job Costing; Activity-Based Costing and Management; Quiz #1 4, Jan Master Budget and Responsibility Accounting; Flexible Budgets, Variances, and Management Control: I; Quiz #2 6, Jan Flexible Budgets, Variances, and Management Control: II; Income Effects of Denominator Level on Inventory Valuation; Quiz #3 8, Feb Mid-Term Exam #1 1 through 9 Decision Making and Relevant Information; 6 10 Feb Pricing Decisions, Product Profitability Decisions, and Cost Management; 11 Quiz #4 17 Feb Reading Week NO CLASS Suggested end-of-chapter exercises 2 chap 2: 26 chap 3: 19, 23, 25 chap 4: 24, 28, 35 chap 5: 27, 28, 37 6: 17, 26, 31 7: 22, 25, 26 8: 20, 21, 28 9: 16, 20, 26 11: 15, 18, Feb Period Cost Allocation; Cost Allocation: Joint Products and Byproducts; Quiz #5 12, 14 12: 15,17,24 14: 17, 21, 29 1 Prior to class you should: (a) read the assigned chapters, (b) review the associated PowerPoint presentations provided by the instructor, and (3) work the suggested end-of-chapter exercises. 2 In addition to the suggested exercises, you should learn the Terms to Learn at the end of each chapter. MGT 3130 Y Spring

6 8 02 Mar Revenue and Customer Profitability Analysis; Process Costing; Quiz #6 15, Mar Process costing: Spoilage, Rework and Scrap Quiz # 8 17, : 20,22,27 16: 17, 18, 21 17: 13,16,17 18: 16,26, Mar Mid-Term Exam # Mar Mar Apr Spoilage, Rework, and Scrap; Inventory Cost Management Strategies; Quiz #7 Capital Budgeting: Methods of Investment Analysis; Capital Budgeting: A Closer Look; Quiz #8 Transfer Pricing and Multinational Management Control Systems; Multinational Performance Management Measurement and Compensation; Quiz #9 FE 20 Apr Final Examination 11, 12, 14 through : 19, 23, 29 21, 22 23, through 24, plus others 3 21: 19, 24, 27 22: 15, 23, 29 23: 19, 20, 26 24: 22, 24, 29 3 The final exam will cover chapters 18, 20, 21, 22, 23 and 24 plus selected chapters that were covered in the two mid-term examinations. Prior to the final examination you will be advised which of those chapters from the mid-term exams will be covered on the final exam. Note, however, as described above in the course outline, that those students who miss one or both of the mid-term examinations will be given a different final examination, one that includes coverage of all the chapters that were covered on the mid-term examination(s) that they missed in addition to chapters 20 to 24. MGT 3130 Y Spring