Cost Accounting
AC 223--Winter, 2003
Meeting Time:
Plus
Place: Business Center 215 (MWF)
Office:
Office Phone: 352-8428 Home Phone: 352-2197 (Before
Office Hours: See the Attached Schedule Course
Credit: 1.5 (and the related work
expectations follow along with the extra .5 cc)
PREREQUISITES: Principles of Accounting II (AC122), and
Fundamentals of College Math (MA107); Statistical Methods (MA214) recommended
TEXTBOOK: Cost of Accounting: Traditions and Innovations, by
Barfield, Raiborn, and Kinney, Fifth Edition, West
Publishing Company. 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: The assignments for unit one are given on the assignment sheet that is distributed with
this syllabus. We will be spending two
or three days on each chapter of textbook material that we will be
covering. It is expected that students
will have read the textbook material and attempted the questions assigned on
the first day. For the subsequent
day(s), students are expected to complete the assigned computational
problems. It is hoped that the selected
questions and problems will highlight the material in the textbook. Students
are encouraged to ask additional questions that have not been resolved by the
discussions in class. The keys to
success in this course will be regular class attendance and diligence in
working assigned problems.
The
Tuesday and Thursday classes for the first few weeks will be used to work on
and complete some computer assignments that deal with Cost Accounting. Before coming to class on Thursday, January
9, you need to have a floppy disk that is formatted for the PC computers in
Whitehouse Business Center Lab.
EVALUATION PROCESS: Students will be evaluated on 4 unit exams, a
comprehensive final exam, quizzes, special assignments, and the article
reviews. The scheduled exam days are as
follows:
Unit 1—Chapters 1, 2, 3 & 4 Friday, January 31
Unit 2—Chapters 5, 6, 7, & 10 Friday, Feb. 28
Unit 3—Chapters 9, 11, & 13 Friday, Mar. 31
Unit 4—Chapters 16 & 17 Monday, April 14
Final Exam
Period—Monday, April 14
(This
will include Unit 4 exam and 50 MC Questions)
Unit Exams 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.
Quizzes will be unannounced and as
frequent as necessary to keep students interested in adequate preparation for
class sessions.
Other Assignments--the computer projects and
some of the special in-class assignments will be collected, evaluated, and
included in the total points used to determine the student’s final grade.
Article Reviews—A business professional
(whether in accounting, marketing, management, or finance) needs to keep
current on what is happening in their field.
To help students develop this interest, students in this class will be
required to write summaries to two articles that relate to Cost
Accounting. The source of the article
can be from a professional accounting magazine or from a general business
periodical. You need to turn in (1) a
copy the article and (2) a two-page summary of the article that
(a)
summarizes the article in the first paragraph, (b)
explains of how the article relates to course work in this class or other
classes you have taken, and (c) how this article has added to their knowledge
of accounting. You will also be sharing
your article with the rest of the class and material that you turn into the
instructor will NOT be returned until after the presentation has been made.
NOTATION: THIS IS NOT AN INTERNET RESEARCH PROJECT--you
are required to use (read) periodicals in the library—not summarize the summaries
that may appear on the Internet. No
students may use the same article for this assignment. A sign-up sheet will posted
on the professor’s bulletin board two weeks before the summaries are due. Indicate the article and source on the
sheet—“first come, first served” basis.
One article MUST come from a professional accounting magazine.
The
due dates for the two articles are Monday,
February 3 and Monday, March 10. The student presentations of
these articles will be made on Tuesday and Thursday of the week the article
summaries are due.
Your
final grade will be based on the following percentage scale:
90 -- 100% A
80 -- 89%
B
70 -- 79%
C
60 -- 69%
D
Under 60% F
The
NO FOOD OR DRINK IS ALLOWED
IN THE CLASSROOM
IT WILL NOT BE TOLERATED
ACADEMIC INTEGRITY: By attending
Detach the Acknowledgment Form Here and Return to Professor
Magnall
This
form MUST be returned to the
instructor by class time on
For
this form—you were supposed to read the syllabus and KNOW that it was to be turned in.
I
have read the syllabus for Cost Accounting course that will be taught by
Professor Magnall during the Winter term of 2003. I understand my responsibilities as a student
in his class and my signature below acknowledges that I have received a copy of
his syllabus for this course.
__________________________________________ ________________
Student’s Name Date
Assignments
for
Cost
Accounting
Winter, 2003
Tuesday,
January 7
Introduction to the Course
Wednesday, January 8
Lecture/Discussion of topics in Chapter 1—Introduction to Cost and
Management Accounting in a Global Business
Thursday,
January 9
Discussion of Computer Skills of
Students
Friday,
January 10
Finish Chapter 1 discussion
ASSIGNED QUESTIONS FROM CHAPTER 1: 1,
11, 16, 24, 30, 36
Monday, January 13
Lecture/Discussion of Topics in
Chapter 2—Introduction to
Cost Management Systems
Tuesday,
January 14
Computer Exercise #1--Assessment of Computer Skills
Excel, Word,
Internet, e-mail, etc.
Wednesday,
January 15
Chapter 2 Discussion
ASSIGNED QUESTIONS FROM CHAPTER
2: 3,
5, 9, 14, 16, 18, 23, 26
Thursday,
January 16
Discussion of Chapter 2
Exercises: 43 & 47
Friday,
January 17
Lecture/Discussion of Chapter 3—Organizational Cost Flows
Monday,
January 20—MLK Day Class meets
Continuation of Chapter 3 Material
ASSIGNED QUESTIONS FROM CHAPTER
Tuesday,
January 21
Computer Exercise #2—Cost Behavior Patterns
ASSIGNED QUESTIONS FROM CHAPTER
3: 54
Wednesday, January 22
Finish Material from Chapter 3
ASSIGNED QUESTIONS FROM CHAPTER
Thursday,
January 23
Finish Computer Exercise #2—Cost Behavior Patterns
Friday,
January 24
Lecture/Discussion
on Chapter 4—Activity-Based Cost Systems
for Management
Monday,
January 27—
Continuation of Chapter 4 Material
ASSIGNED QUESTIONS FROM CHAPTER
Tuesday,
January 28
Sample Exam 1 and Review for Exam 1
Wednesday,
January 29
Finish Chapter 4 Material
ASSIGNED QUESTIONS FROM CHAPTER
Thursday,
January 30
Discussion of Case Studies—To be handed out in class
Friday, January
31
Exam
1—Chapters 1, 2, 3, & 4
Monday,
February 3—First Magazine Article Summary Due
Lecture/Discussion of Chapter 5—Job Order Costing
Tuesday,
February 4
Student Presentations of Magazine Articles—Group 1
Wednesday,
February 5
ASSIGNED QUESTIONS FROM CHAPTER
Thursday,
February 6
Student Presentations of Magazine Articles—Group 2
Friday,
February 7
ASSIGNED QUESTIONS FROM CHAPTER 5: 34, 43, 46, 50
Monday,
February 10
Lecture/Discussion of
Chapter 6—Process Costing
Questions 3, 6, 8, 13, 15
Tuesday, February 11
Case
Study on Job Order Costing—Handed Out In Class
Wednesday, February 12
Chapter 6 Discussion
ASSIGNED
QUESTIONS FROM CHAPTER 6: 18, 19, 23, 28,43
Thursday,
February 13
Case Study on Process Costing—Handed Out In
Class
Friday,
February 14
Finish Discussion of Chapter 6
ASSIGNED QUESTIONS FROM CHAPTER 6: 33, 42, 45
Monday, February 17
Lecture/Discussion of Chapter 7—Special Production Issues
Questions 2, 6, 8, 13, 16
Tuesday, February 18
Special Problems On
Process Costing and Production Issues—
Handed out in Class
Wednesday,
February 19
Discussion of Chapter 7 Issues:
ASSIGNED QUESTIONS FROM CHAPTER 7: 20, 21, 22, 26
Thursday,
February 20
Free Day—No Class—You might want to use this time to find your
second magazine article
Or you can use this time to start review material for exam 2
Friday,
February 21
Finish Discussion of Chapter 7:
ASSIGNED QUESTIONS FROM CHAPTER
7: 31,
32, 40, 41
Monday, February 24
Lecture/Discussion of
Chapter 10: Standard Costing
Questions: 1, 4,
9, 12, 14
Tuesday,
February 25
Discussion of Exercises from Chapter 10
ASSIGNED QUESTIONS FROM
CHAPTER 10: 24, 25, 28, 30
Wednesday, February 26
Discussion of Exercises from Chapter 10
ASSIGNED QUESTIONS FROM CHAPTER 10: 42, 43, 48, 52
Thursday,
February 27
Discussion of Review Material for Exam 2
Friday,
February 28
Exam 2—Chapter 5, 6, 7, & 10
Monday,
March 3—Friday, March 7
WINTER TERM BREAK—No Class
Monday,
March 10
Second Set of
Magazine Write ups are DUE today.
Lecture/Discussion of
Chapter 11—Cost Volume Profit Analysis
Questions: 1, 4,
6, 7, 8, 9, 12
Tuesday,
March 11
Student Presentations of Magazine Articles—Group 1
Wednesday,
March 12
Discussion of Chapter 11 Questions
ASSIGNED QUESTIONS FROM CHAPTER 11: 23,
24, 29, 32, 33
Thursday,
March 13
Student Presentations of Magazine Articles—Group 2
Friday, March
14
Finish Discussion of Chapter 11
ASSIGNED QUESTIONS FROM CHAPTER 11: 40, 41,
44
Monday, March 17
Lecture/Discussion of
Chapter 9—Cost Allocation for Joint and
By-Products
Questions: 2,
4, 9, 12
Tuesday, March 18
CASE STUDY on “managing scarce
resources”—distributed in class
Wednesday, March 19
Discussion of Chapter 9 Questions
ASSIGNED QUESTIONS FROM CHAPTER
9: 15,
16, 17, 18, 19
Thursday, March 20
CASE STUDY on “joint
costs”—distributed in class
Friday, March 21
Finish Discussion of Chapter 9
ASSIGNED
QUESTIONS FROM CHAPTER 9: 25, 26, 27, 30, 38
Monday, March 24
Lecture/Discussion of Chapter 13—The Master Budget
Questions: 4, 6,
9, 10, 19
Tuesday, March 25
Day 1 of Budgeting Project on EXCEL
Wednesday, March 26
Discussion of Chapter 13 Questions
ASSIGNED QUESTIONS FROM CHAPTER
13: 23,
26, 31, 34, 35
Thursday, March 27
Day 2 of Budgeting Project on EXCEL
Friday, March 28
Review Day for Exam 3—Chapters 9, 11, & 13
Monday, March 31
EXAM 3—Chapters 9, 11, & 13
Tuesday, April 1
CASE STUDY on Budgeting
Wednesday, April 2
Lecture/Discussion of Chapter 16—Innovative Inventory and Production
Management Techniques
Questions: 2, 6,
8, 14, 17, 21, 29
Thursday, April 3
Quality Control Issues in Cost
Accounting
Friday, April 4
Discussion of Chapter 16 Questions
ASSIGNED QUESTIONS FROM CHAPTER
16: 36,
40, 41, 43, 53, 54
Monday, April 7
Lecture on Chapter 17—Emerging Management Practices
QUESTIONS: 2, 6,
12, 18, 21, 28
Tuesday, April 8
CASE
STUDY on Decision Making
Wednesday, April 9
Finish Discussion of Chapter 17
ASSIGNED QUESTIONS FROM CHAPTER
17: 30,
35, 45, 47
Thursday, April 10
CASE STUDY on Decision Making
Friday, April 11
Special Assignment
for today. In Class Activities,
etc.
FINAL EXAM:
Monday, April 14