Department of Business: Course Outline for ACC Cost Accounting I - 3 Credits/3 Hours a week

Transcription

1 Department of Business: Course Outline for ACC 2311 Cost Accounting I - 3 Credits/3 Hours a week Pre-requisites & Co-requisites: ACC Required Textbook(s) & Supplemental Material(s): Cost Accounting, A Managerial Emphasis with MyAccountingLab Access Code, 15th Edition, by Horngren, Foster & Datar. Publisher: Pearson. Course Description/Overview: This course introduces students to cost accounting concepts and procedures. An effective cost accounting system provides information that can impact operational and financial performances of an entity. Students will learn how cost accounting information is developed and used for various purposes in different types of business entities. We will examine the role that cost accounting plays in measuring, analyzing and reporting information that relates to the cost of obtaining and using an entity s resources. Students will learn ways of assigning various costs such as direct costs, indirect costs, fixed costs, variable costs, inventorial cost and period costs. Learning Objectives - Course Specific: This course introduces students to cost accounting concepts and procedures. An effective cost accounting system provides information that can impact operational and financial performances of an entity. Students will learn how cost accounting information is developed and used for various purposes in different types of business entities. We will examine the role that cost accounting plays in measuring, analyzing and reporting information that relates to the cost of obtaining and using an entity s resources. Students will learn ways of assigning various costs such as direct costs, indirect costs, fixed costs, variable costs, inventorial cost and period costs. Learning Objectives - General Education: Have further developed their problem solving and decision making skills through extensive, in-class problem solving exercises and regular homework assignments that emphasize the development of these skills. Be able to communicate effectively in writing. Written communication skills are developed through weekly written assignments as well as a written project with application of MLS guidelines. Be able to communicate effectively using a variety of technologies, including , discussion boards, and Internet chat rooms with audio capabilities as well as a variety of technology programs such Microsoft Word and Excel. Develop further their inter-personal skills through in-class interactions as well as interactions using multiple communication media, such as , discussion boards, and Internet chat rooms. Student Learning Outcomes Course Specific: Upon completion of this course and with the minimum required passing grade on assignments and examinations, students will acquire the knowledge and skills to: Distinguish between financial and managerial accounting 1 P a g e F i l e e d i t e d : 1 1 / 2 /

2 Apply the five-step sequence in a decision process Explain how effective supply chain management contributes to the value chain in the delivery of quality end products Identify and calculate various types of costs such as direct, indirect, total, variable and fixed costs Determine the costs of producing a product or providing a service using job costing and process costing Apply methods to allocate costs to joint products and byproducts Allocate costs to products and services using Activity Based Costing (ABC) and determine how this method of costing improves cost allocation and price determination Allocate support departments costs to operating departments Calculate the costs of spoilage, reworked units and scrap Demonstrate in writing via critical and dialectical thinking skills and analysis how a company can maintain a sustainable financial advantage Use MS Excel spreadsheet and other software programs to prepare various performance reports for management planning, controlling and decision making. Student Learning Outcomes General Education: The American Institute of CPAs (AICPA) has identified a set of competencies for those entering the profession of accounting ( This course promotes the development of several such competencies: Competency Description How Competency is Developed in this Course 1. Functional Competences Reporting The communication of results Written communication skills are or practiced recommendations in a clear, through class participation and objective and effective completion of manner. the written assignment. 2. Personal Competencies Professional Behavior that demonstrates This is achieved through regular and Demeanor integrity, honesty, high active ethical standards, participation and positive interactions reliability and stability. with classmates and faculty. Problem Solving and The exercise of careful This course provides substantial problem Decision Making reasoning, solving and decision making practice analysis, and judgment in through solving homework assignments and or exams. problems and making sound decisions. Interaction Productive and collaborative This is achieved through positive interactions between interactions individuals. between students and faculty. Leadership The ability to influence, This is achieved through positive inspire, and motivate others interactions between students and faculty. 2 P a g e F i l e e d i t e d : 1 1 / 2 /

3 Communication The communication of Written communication skills are findings, views or practiced recommendations, which through class participation and provides an adequate context completion of and communicates in a clear, the written assignment. concise and effective manner. Leverage Technology The effective use of various This is achieved through the extensive technologies. use of Blackboard, MyAccountingLab and , as well as Word and Excel whenever appropriate. CUNY s Academic Integrity Policy: Academic dishonesty is prohibited in The City University of New York. Penalties for academic dishonesty include academic sanctions, such as failing or otherwise reduced grades, and/or disciplinary sanctions, including suspension, or expulsion. Cheating is the unauthorized use or attempted use of material, information, notes, study aids, devices or communication during an academic exercise. Plagiarism is the act of presenting another person s ideas, research or writings as your own. The following are some examples of plagiarism, but by no means is it an exhaustive list: Internet Plagiarism includes submitting downloaded term papers or parts of term papers, paraphrasing or copying information from the internet without citing the source, and cutting and pasting from various sources without proper attribution. For a more detailed explanation, you can find the full Academic Integrity Policy here: College Attendance Policy: A student may be absent without penalty for 10% of the number of scheduled class meetings during the semester as follows: Allowable Class Meets Absence(s) 1 time/week 2 classes 2 times/week 3 classes 3 times/week 4 classes Excessive Absence: If a student s class absences exceed the limit established for a given course or component, the instructor will alert the student that a grade of WU may be assigned. If a student remains officially registered for a course and never attends that course, a final grade of *WN will be assigned. If the student withdraws officially from the course, he/she will be assigned a grade in accordance with the existing withdrawal policy of the College. Grading Policy: Grading Suggested Item Nature of Assignment Weight Homework Assignments Online, in MyAccountingLab 33% 3 P a g e F i l e e d i t e d : 1 1 / 2 /

4 Exams (including Final Exam) Online, in MyAccountingLab 45% Project Group 15% Class Participation Individual 7% TOTAL POINTS 100%. Grading System: All grades will be based in proportion to the following scale: A = A- = B+ = B = B- = C+ = C = D = F = 59.9 and below Assessment Methods: Homework assignments, exams & class project. Course Technology: MyAccountingLab - The first Online Class Website is an online homework, tutorial and assessment system that accompanies your textbook. All graded online assignments and examinations shall be completed outside of class time using MyAccountingLab. Students who do not have off-campus access to the internet should plan on spending time in the school computer lab in order to complete the online assignments. To use MyAccountingLab you must first register online. Students will need an address and a student access code. This code is available with a new textbook. Otherwise you may purchase an e-book online with access to MyAccountingLab. MyAccountingLab can also be accessed from Blackboard by clicking on the MyAccountingLab link. Blackboard - The other online Website that will be used in this course is Blackboard. This Online Class Website has a digital version of this syllabus and will also include announcements, discussions and other course related information. To access Blackboard, students must register with the CUNY Website Portal, if they have not already done so for a prior class. To register with the Portal, open a Website browser on your home computer or one located in a computer lab at school (such as Internet Explorer or Mozilla Firefox) and go to < Once on the Portal Home Page click LOG-IN. A new page called Portal Login will appear. Click Register for a New Account and follow the registration instructions. Be sure to write your Username and Password down for future reference. Once you are logged in, click the link for Blackboard. On the next page, click the link for your class. Once you do that, you will be taken to the homepage of your class Online Class Website that you should explore and visit regularly. Class Schedule: Week # - Chapter & Chapter Name 1 Chapter 1: The Manager and Management Accounting 2 Chapter 2: An Introduction to Cost Terms & Purposes 3 Chapter 2: An Introduction to Cost Terms & Purposes 4 Chapter 4: Job Costing 4 P a g e F i l e e d i t e d : 1 1 / 2 /

5 5 Chapter 4: Job Costing 6 Chapter 5: Activity Based Costing 7 Chapter 5: Activity Based Costing 8 Chapter 17: Process Costing Weighted-Average Method 9 Chapter 17: Process Costing FIFO Method 10 Chapter 18: Spoilage, Rework & Scrap Process Costing 11 Chapter 18: Spoilage, Rework & Scrap Job Costing 12 Chapter 15: Allocation of Support-Department Costs 13 Chapter 15: Allocation of Support-Department Costs 14 Chapter 16: Cost Allocation: Joint Products and Byproducts 15 Review and Final Exam 5 P a g e F i l e e d i t e d : 1 1 / 2 /