Cost Accounting
AC 223—Winter, 2007
Meeting Time:
Place: Business Center 116 Office:
Office Phone: 352-8428 Home Phone: 352-2197
(Before
Office Hours: M
T
W
H
F
PREREQUISITES: Principles
of Accounting II (AC122), and Fundamentals of College Math (MA107); Statistical
Methods (MA214) recommended
TEXTBOOK: Cost
of Accounting: Foundations and Evolutions, by Kinnney, Prather-Kinsey, Raiborn. Sixth Edition. Thomson Publishing. Only the book is required.
COURSE OBJECTIVES: "Cost
accounting fundamentals and applications to decision making: relationships of
cost, volume and profit; standard costs; variance analysis; activity based
costing; quantitative methods and models used in cost accounting." (From the college catalog).
This is a required course for
Accounting Majors and an elective course for Finance Majors. Its purpose is to familiarize the student
with cost accounting techniques and procedures.
Students should be able to apply these concepts to the preparation and
understanding of cost accounting reports.
As the manufacturing environment responds to world-wide competition, the
cost accountant must answer the demand for expanded and more precise accounting
information.
ASSIGNMENTS:
Listed below are the chapters
of the textbook that will be covered during the semester.
Chapter 2—Cost Terminology and Cost Behaviors
Chapter 3—Predetermined Overhead Rates, Flexible
Budgets, and Absorption/Variable Costing
Chapter 9—Break-Even Point and Cost Volume Profit
Analysis
Chapter 4—Job Order Costing
Chapter 5—Activity Based Management and Activity Based
Costing
Chapter 6—Process Costing
Chapter 7—Standard Costing
Chapter 10—Relevant Information for Decision Making
Chapter 11—Allocation of Joint Products and Accounting
for By-Products
Chapter 16—Implementing Quality Concepts
Chapter 18—Emerging Management Practices
Chapter 19—Performance Measurement, Balanced Score
Cards, and Performance Rewards
(1)
Unit exam on chapters 16, 18, &19
(2)
Comprehensive Final Exam (50 MC questions)
Other Class Schedule Issues:
1. Monday, January 15th is Martin
Luther King Day—class will meet for only 50 minutes that day.
2. Winter term break is means that we will not have
class on March 5, March 7, or March 9.
3. Easter Break means that we will not have
class on Friday, April 6 or Monday, April 9.
Here are the assignments for the first unit:
Introduction to the Course
Review of Principles of Accounting II Material
Lecture on Chapter 2
Professor Magnall Will Not Be Attending that Day.
Instead you are to work together in groups of 3 or 4
(self-selected) on the following exercises
at
the end of Chapter 2—8, 11, 12, 25
Each
group should submit one copy of their group’s work at the end of Friday’s class
period
Discussion of exercises 19, 28, 33, 36 from Chapter 2
Lecture on Chapter 3
Discussion of exercises 16, 20, 26, 29 from Chapter 3
Discussion of exercises 35, 41, 42, 43 from Chapter 3
Lecture on Chapter 9
Discussion of exercises 8, 12, 16, 24, 26 from Chapter 9
Discussion of exercises 35, 37, 43, 45 from Chapter 9
Review Day for Exam 1
Special Assignment on cost volume profit is due
Exam 1—students can start the exam at
Lecture on Chapter 4
Discussion of exercises 8, 12, 20, 24 from Chapter 4
Discussion of Exercises 30, 35, 40 from Chapter 4
Lecture on Chapter 5
EVALUATION PROCESS: Students
will be evaluated on 4 unit exams, a comprehensive final exam, & special
assignments. The scheduled exam days are
included in the assignments above.
Unit Exams (80% of the final grade) will include multiple choice questions and
computational problems. I will try to
provide a SAMPLE exam as discussion material for the review day for the first
exam.
Other Assignments (20% of the
final grade): It is expected
that six special assignments to will be distributed and then evaluated by the
instructor. With assignments 2—5, there
will be several versions of these assignments and students are to complete the
one that is distributed to them. Students
are NOT to collaborate on these assignments—doing so is will be considered a
violation of academic integrity.
Questions on these assignments should be directed at the instructor
rather than your classmates.
Tentative Plan of the
topics of these assignments:
1. Chapter 2 assignment from Friday, January 12
2. Problem on Cost Volume Profit Analysis due on
3. Problem on Activity Based Costing
4. Problem on Joint Costs and By-Products
5. Problem on a Balanced Scorecard
Your final grade will be based on the following
percentage scale:
The
90 -- 100% A
80 -- 89%
B
70 -- 79%
C
60 -- 69%
D
Under 60% F
NO FOOD OR DRINK IS ALLOWED
IN THE CLASSROOM
Respect your fellow classmates and eat your breakfast
before coming to class!
ATTENDANCE: Attendance of class sessions in not directly related to the evaluation process of the course. It is the instructor's expectation that students will attend all class sessions if at all possible and the instructor will note absences on the seating chart. Examinations cannot be made up without proper notice prior to the exam period.
On
Ø for the
instructor to take note of who is in class each day
Ø for the
students to become comfortable with their position in the class
Ø to aid the
instructor in learning students' names and faces
Ø to aid in
the return of evaluated materials
ACADEMIC INTEGRITY: By
attending
Cheating
on an exam or any other evaluated item will not be tolerated. Anyone suspected
of cheating on such evaluations will discuss the incident and the consequences
with the instructor. It is the
responsibility of other students to report violations of this rule. The penalty for such conduct could range from
a zero on the evaluation to an immediate removal of the student from the course
with a failing grade.
GENERAL CONDUCT IN CLASS: Hats are not to be worn during exams
or presentations. PDAs and other
hand-held devices are not allowed during exams—you can use a calculator during
an exam, but not the other devices.
Students are not to leave the room without permission
during exams. As a courtesy to others,
please turn off cell phones and other electronic devices during all class
activities.
SPECIAL NEEDS: The Americans with Disabilities Act of 1990 (