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Managerial Accounting
Assignment Sheet and Study Guide
Spring 1995ACCT 2020
- Sections 1 & 2
You are welcome to come by the office anytime, not just during office hours. You may also make an appointment. You will receive an E-mail address that will permit you to raise questions about the class and class topics using E-mail. We will establish regular times for responding to questions raised electronically. Some will be discussed in class.
The E-mail system will help you communicate with members of your team. You will complete certain assignments using this electronic system. You may receive E-mail assignments, questions, or other information from your instructor. Plan to regularly check your mailbox.
There is a teaching assistant for this class. This individual may help with selected class sessions, work on special projects, answer some electronic questions, and be available for consultation at posted times.
Primary Course Objective
Managerial accounting information is critical for any business or not-for-profit organization. Good information will improve the operations of the enterprise. Bad information will help the organization fail. In this class we place special emphasis on the use of accounting information within an organization.
The primary goal is help you to develop an understanding of how accounting information can help organizations function more effectively.
Specific Course Objectives
Accounting information effects every individual and functional area in an organization. All students in the University need an understanding of basic management accounting terms and ideas. These include:
- Explaining the vital role of information in the organizational
(and individual) decision making process.
- Identifying the data needed for managerial decision making
in various functional areas of an organization.
- Understanding the importance of cost (or perceived cost) data
on major organizational decisions. Examples include: pricing,
employment, short and long term investment, and product or service
decisions.
- Show how different functional areas use accounting information
for planning and control purposes.
- Illustrating how evolving managerial themes such as activity
based management, just in time, and quality rely on and influence
managerial accounting data.
- Demonstrating how managers use accounting information to impact
society.
Text Materials
Please buy the following text and bring your book to class each period.
Managerial Accounting, Cecily A. Raiborn, Jesse T.
Barfield, and Michael R. Kinney
There is an optional Student Study Guide. It is not recommended, but you must decide if it will help you. Do not purchase working papers or other extras before consulting with your instructor.
Prerequisites
You must have completed ACCT 2010 or equivalent with a grade of C or better to register for ACCT 2020. Any student who has not met this prerequisite will be dropped from ACCT 2020. Please note that the check for these prerequisites occurs sometime during the semester. You risk losing reimbursement of tuition and fees or receiving an F in the course if you do not meet this qualification. You may not take ACCT 2010 and ACCT 2020 together.
The Classroom
A variety of assignments and learning approaches will help you develop an understanding of basic managerial accounting information and its uses. Classes will include lectures, videos, company notes, demonstration problems, and questions and answers. There will be quizzes, and a variety of team and individual problem solving exercises.
We will use procedures of "how to do the accounting" only as a tool in developing your understanding of the uses, potential uses, and even the misuses of accounting information. There will be many examples and illustrations using actual company situations. You and your team will create some of these examples and illustrations.
Student Responsibility
Your responsibility is to come to class prepared. Before class you should read the assigned chapters. You should attempt the assigned problem material. You may wish to raise questions about materials using the electronic mail system. Class will provide you with the opportunity to get questions answered and clarify issues raised by the assignment materials. You should always be ready to discuss the assigned materials, your responses to assignments, or your questions about the material. You should also be ready to relate the topical material to the specific business that you will follow throughout the semester. Unless specified in advance, we will not collect outside question and problem assignments. roper preparation and staying caught positively affect your course grade.
Grading
Your final grade depends on a combination of factors. These are examination results (including quizzes), class and E-mail participation, and your team and individual assignments. Outside readings, examples, and experiences provide you grade enhancement opportunities and will make the class assignments more meaningful.
You will have three period examinations and a comprehensive final. There may be quizzes given at any time during the semester. Examinations and quizzes may include essay, problem, and short answer (e.g. multiple choice) questions. The period examinations will focus on specific sections of the course. The final is comprehensive. Examination questions may come from class discussion, text readings, and outside assignments.
You will prepare and turn in (sometimes electronically) several team and individual projects. You will participate using your team assignments. These include:
- A series of short team reports that relate to your business
to class topics.
- Each individual on the team will take primary responsibility
in certain areas.
- There will be business questions for the team from each section
of the course.
- Different individuals from the team will report to the class
on how their business uses certain managerial information.
- A one page summary of at least one article from the popular
business press.
- A number of news notes, examples, or illustrations from outside
readings
Class attendance is essential. Your participation grade is directly influenced by your attendance (You can't participate, take quizzes, or effectively complete team assignments if you are not there). Significant portions of the test and assignment materials will directly relate to class discussion, illustration, and videos.
The following is the "tentative" point distribution for determining grades.
Period examinations (3) 300 Comprehensive Final 100
Written assignments, participation, team reports, quizzes
200* Total 600**
- We will provide you additional information on the distribution
of these points during the semester.
** Final grades will initially use the standard 90%, 80%, 70% system. Thus if you have 540 or more points you are guaranteed an A. If you have 420 or more points you are guaranteed at least a C. Individual examinations scores will be adjusted to this grading basis.
Trend (e.g. rising test scores), special contributions to the class, completion of additional outside assignments, or unusual situations are also factors in determining a final grade. This may result in you making a grade higher than that guaranteed by the point system. Please feel free to discuss your grade situation with me at any time.
Team Assignments, Individual Assignments, Participation, Quizzes
Each team will turn in a single paper for each of the ten scheduled team assignments. These papers are a cooperative effort of the team. There will be a team grade for each team assignment. Primary responsibility for coordinating the team effort will rotate among team members. Grades for team projects where you have responsibility will be a factor in your individual grade. Each team member will also have the opportunity to provide input on the contributions of other team members.
There are (at least) three individual assignments. This includes an article review and illustrations that relate to managerial accounting. You will receive detailed instructions on the requirements for these assignments.
Participation is an important part of your grade. You are expected to participate actively on your teams and in class. Questions, comments, suggestions and ideas made in class and using E-mail are part of participation. There will be random opportunities to respond to questions on course materials and team projects.
There will be (an undetermined number) of unannounced quizzes during the semester. Unannounced quizzes may NOT be made up, even for excused absences. Depending on the number of quizzes given, we will drop one or more of your worst quizzes.
Examinations
There will be three period length (or less) examinations and a comprehensive final examination (120 minutes) in this course. The attached assignment sheet indicates the chapters covered on each exam and the examination dates. The examinations, including the final, will be of various formats, including multiple-choice, problem, short answer and essay questions. Your examinations, except for the comprehensive final, will be returned to you approximately a week after the test.
Comprehensive finals are not returned to students. If you have a question concerning your exam, please E-mail the question to me, see me during regular office hours or schedule an office appointment.
Test Dates Period Test I February 16 Period
Test II March 23 Period Test III April 27 Final May
10 (from 4:00 p.m.- 6:00 p.m.)
Picture ID Required
You must present some form of personal identification that includes your picture (like a student ID or driver's license) in order to take any examination. This includes all examinations given during the semester and the final.
Makeup Exams
You are to take the examinations when scheduled. There is no scheduled makeup examination. If you discover that an emergency will force you to miss an examination you must contact your instructor as soon as physically possible (leave a message if you don't reach me directly). Ideally make this contact prior to the examination. If necessary, do so as soon after the examination as possible. Do not wait for office hours or the next class period. Sometimes special arrangements can be made to deal with your situation.
If an examination is missed with a documented excused absence the final examination grade will substitute for the missing examination grade. Unexcused absences result in a zero (as does a second missed examination). You may not make up any missed quizzes. The final examination for all sections of ACCT 2020 will be on Wednesday, May 10, 1995 from 4:00 pm until 6:00 pm. The examination must be taken at that time. Please make arrangements now to avoid any conflicts.
Use of Calculators
Any simple four function calculator is acceptable. Use of any other calculator will result in a grade of F on the quiz or examination. Calculators with a memory capability are not acceptable.
Study Time
This class takes time. The typical student can expect to spend a minimum or 9 to 12 hours a week outside the classroom. This includes reading the text, working assigned problems, and especially doing outside business reading. Keeping up is critically important. It will also ultimately help reduce your total time and improve your grade.
Homework and Written Assignments
Working problems and staying caught up is essential. To learn accounting you must work problems and develop question responses. There are required and supplemental problem assignments for each chapter. As you work problems you should show all computations and list your assumptions (a requirement on the examinations). This will allow you to explain to your team, your instructor, and yourself (when you review for examinations) the basis of the numbers or written response. You should write down any questions that stop you from completing an assignment. You should get these questions answered in class, during office hours, or by raising them by electronic mail.
Unless completing an assignment in class, you should type (wordprocess) any written materials that must be turned in to your instructor. Number analysis may be done in pen or pencil as long as it is easy to read. You are strongly encouraged to use group study techniques. Consider working with either with your class team or self formed teams.
Accounting Labs
Additional help on homework problems and solution manuals are available in the accounting labs. The location and schedule of these labs will be available to you early in the semester. Students who staff the labs are able to provide you with some help on your problems. Remember help is also available from you instructors and you may ask questions using the E-mail system. Solution manuals are available in the labs and instructor's offices. They are for your use only after you have attempted the assignment material.
Examinations
Policy on consistency between sections
Drop DatesFebruary 27: Last day to drop with a grade of "W"
if failing.March 28: Last day to drop with the consent of the
Instructor.
Statement of Academic Honesty
All students are expected to be academically honest. Every effort will be made by your instructor and this department to discourage cheating. This includes, but is not limited to randomly photocopying tests prior to returning them for your review. Awareness of academic dishonesty by a classmate is the equivalent of cheating unless you report it to your instructor. We use the following university guidelines:
All students found guilty of cheating or plagiarism will (at a minimum) receive an F in the course and could be expelled from the university. Plagiarism and cheating refer to the use of unauthorized books, notes or otherwise securing help in a test; copying tests, assignments, reports or term papers; representing the work of another person as one's own; collaborating, without authority, with another student during an examination or in preparing academic work; signing another students name on an attendance sheet; or otherwise practicing scholastic dishonesty.
Statement on Cooperation for Disabled Students
The College of Business Administration complies with the Americans with Disabilities Act in making reasonable accommodation for qualified students with disability. If you have an established disability as defined in the Americans with Disabilities Act and would like to request accommodation, please see me as soon as possible. My office hours and office number are shown on this syllabus.
Tentative Topics and Text Problem Assignments
The topical assignments are tentative. They are subject to change in any class period. Examination dates are unlikely to change. Quizzes may be given in any period. Specific team and individual assignments will be made through handouts, special instructions, or electronically. You are responsible for completing any additional assignments even if you miss class.
The schedule below indicates the general topics and text chapters that we will cover each period. You will receive detailed information sheets that will:
- Identify which parts of each chapter to study in detail.
- List chapter sections to skim or skip.
- List problems you should attempt for class.
- Include supplemental problems you may use for review or to
develop additional understanding.
- Provide a more specific information on team and individual
assignments.
The reading and problem assignments indicate what you should complete or attempt prior to class. Remember to monitor your electronic mail for changes, special problems, and other materials. 1/17
Course Introduction The importance of accounting information
An illustration of need for various types of data Discussion
of teams and electronic mail 1/19 Cost Analysis and Managerial
Functions Read: Preface Read Carefully: Chapter 1: Pages 1 -
11
Skim: Chapter 1, pages 12 - 22
Review:
Questions 1, 2, 4, and 161/24 Environment and Production
Factors Complete
Chapter 1 Changes in the business environment
Introduction to life cycle Nature of Production
Due: Select your firm or industry
Prepare to Discuss: Ethics Discussion
#23.1/26 Cost and Cost Terms
Read Carefully: Chapter 2: Pages30 -39
Skim for Terms: Pages 39-50 Skip: Pages 51-58 Nature
of Cost Cost classification What is cost Team meetings1/31
Cost Behaviors and Process Continue in
Chapter 2 Fixed and variable
cost Activities and cost Nature of cost drivers Components
of cost2/2 Beakeven and CVP
Read: Parts of Chapter 9
Due: Team report 1
2/7 Importance of Understanding Product Costs
2/9 Importance and Use of Product Costs
Complete Chapter 10
Due: Team report 4
3/7 Relevant Costing
Read: Chapter 16
3/9 Fundamentals of Capital Investment
Read: Portions of Chapter 17
Due: Team report 5
4/6 Production and Inventory Management Techniques
Due: Team report 74/11 Controlling Noninventory Costs Read:
Chapter 14 Importance of noninventory costs Cost control systems4/13
Completion of Cost Management Techniques Due: Team report 84/18
Introduction to Product Costing Read: Chapter 5 What is a standard
Why use standards? Material and labor variance analysis4/20
Job Order Read: Portions of Chapter 6 Nature of job order costs
Cost accumulation systems Due: Team report 94/25 Review Due:
Individual Assignment 34/27 Period Test III5/2 Responsibility
and Performance Measurement
Due: Team report 105/4 Review5/10 Final Examination 4:00
- 6:00
ACCT 2020
Chapter Objectives, Reading Assignments
Problem Assignments, and Team Projects
Note: This initial detailed assignment sheet covers dates through the first period examination. You should make every effort to read required text materials and attempt at least some of the problems prior to when they are discussed in class. Required problems are identified with session objectives by number, e.g. (2).
Team and individual assignment information are listed on the due date. You will need to work on these prior to the due date. Individual assignment materials may be turned in anytime prior to the due date.
It is essential that you stay caught up.
1/17 Course Introduction
When you complete this session, you should be able to:
- Explain why internal accounting information is often nonmonetary.
- Use a fact situation to show how accounting information influences
the way an individual approach his/her job.
- Illustrate how a business firm might use accounting information
to price a service or evaluate employee performance.
You should also be thinking about what industry you will use in the team project and/or who you would like to work with on your teams.
1/19, 1/24 Chapter 1: Introduction to Managerial Accounting
Read the assigned chapter sections. Work on developing your understanding of terms and how accounting fits into an organizational structure.
- Skim sections on pages 12 - 19.
- Skip section on pages 19 - 20.
- Skip appendix
When you complete your study of material in this section, you should be able to:
- Explain and illustrate the following terms: (1) (2)
- Decision making
- Effectiveness
- Efficiency
- Goal
- Internal control
- matrix structure
- objective
- overhead
- performance evaluation
- planning
- Take a factual situation and show why costs would differ because
of varying organizational structures or employee activities.
- List reasons costs are important to employees and to the organization.
(16)
- Explain why service businesses have become so prevalent in
the United States.
- Identify some of the effects of the growing international
marketplace on American business.
- List some advantages and disadvantages of having more product
variety. (4)
- Explain the basic production process used by a manufacturing
company.
- Show why ethical issues affect business decisions. (23)
Required Problems
- Question 1
- Question 2
- Question 4
- Question 16
- Ethics Discussion 23
Team Selection: Overall Team Assignment
Once you are assigned to a team, your team should do the following on an ongoing basis.
- Find examples of glossary terms in the context of your firm.
- Keep a running list of examples.
You will periodically turn in a current list of these examples. You will also use the list to help you provide in-class examples and explanations.
1/26, 1/31 Chapter 2: Cost Terminology and Cost Flows
Read this chapter primarily for an understanding of the basic terms.
- Skim sections on pages 39 - 50.
- Skip sections on pages 51 - 54.
- Skip appendix and solution strategies
When you complete your study of material in this section, you should be able to:
- Explain and illustrate the following terms: (7) (17) (26)
- allocate
- cost driver
- cost object
- direct cost
- direct labor
- direct material
- distribution cost
- failure costs
- fixed costs
- indirect costs
- mixed cost
- overhead
- prevention costs
- relevant range
- variable cost
- Take a fact situation and identify several ways we might classify
a given cost.
- Explain a fixed cost and a variable cost. Be able to explain
using the CVP diagrams. (14)
- Show why a variable cost is fixed on a unit of activity basis.
- Use a fact situation to explain how costs behave. (27) (29)
Required Problems
- Question 7
- Exercise 14
- Exercise 17
- Exercise 26
- Problem 27
- Problem 29
Supplemental Problems
- Question 5
- Exercise 15
- Problem 28
- Ethics discussion 382/2 Chapter 9: Breakeven and Cost Volume
Profit AnalysisDevelop an understanding of how this basic
information model works.
- Skip sections on pages 367 to 380.
- Skip appendix 1 and appendix 2
- Use part of solution strategies and demonstration problem
material
When you complete your study of material in this section, you should be able to:
- Explain and illustrate the following terms: (5)
- breakeven point
- contribution margin
- contribution margin ratio
- cost-volume-profit analysis
- Use and explain terms that are part of CVP analysis.
- Be able to use CVP formulas to solve break even problems.
(20) (25)
- List assumptions of CVP. (15)
- Show effect of change in assumptions, for example, what if
the product mix changes. (31)
- Explain why simple models like CVP are useful. (2)
- List several reasons quality matters. (14)
Required Problems
- Question 2
- Question 5
- Question 14
- Question 15
- Exercise 20
- Exercise 25
- Exercise 31: a, b and d.
- Ignore term pretax profit in all problems.
Supplemental Problems
- Question 7
- Exercise 19
- Exercise 21
- Problem 33: a, b, and e.
- Problem 39: a & b.
- Case 45: a,b,c,d,f,& g.
Due: Team Assignment #1
Prepare a team response to the following questions about your firm.
2/7, 2/9 Chapter 10: Product Costing
Product cost analysis is a critical part of managerial accounting. Read this material and consider various factors that influence product cost.
- Skim sections on pages 428 - 432
- Skip appendix
When you complete your study of material in this section, you should be able to:
- Explain and illustrate the following terms: (5) (13) (27)
(28)
- cost plus pricing
- differential costs
- incremental cost
- negotiated transfer price
- opportunity cost
- price elasticity of demand
- price maker
- price taker
- relevant costs
- special order pricing
- substitute good
- transfer price
- Take an illustrative product or service and identify factors
that may influence what a customer is willing to pay. (21)
- Discuss how product life cycle influence cost.
- Explain why all products are subject to competition.
- List reasons that a team approach to product or service development
will reduce long run cost.
- Illustrate why product design or engineering changes will
influence costs.
- How pricing strategy would differ for a price maker and a
price taker.
- Use a fact situation to show how a firm would set prices if
it used:
- cost plus
- time and materials
- special order
- Illustrate when a firm must set a transfer price and identify
reasons transfer prices may create problems.
Required Problems
- Question 5
- Question 13
- Question 21
- Exercise 27
- Exercise 28
- Exercise 33
- Problem 50
Supplemental Problems
- Question 2
- Question 9
- Question 17
- Exercise 29
- Exercise 32
- Problem 40
- Ethics discussion 59
Due: 2/9 Team Project #2
Prepare a team response to the following questions about your firm. Your paper should not exceed five pages.
2/14 Catch up and Review
Due: Individual Assignment #1
More information on your individual assignments will be provided in class. There are some options available.
- Turn in electronically three short examples from your outside
reading that illustrate some aspect of how management accounting
information affects a business, individual, or organziation.
- There will be examples of what we are looking for provided
in class.
- Your examples should be different from those of other individuals
in the class.
2/16 Test I