ACCT 204 MANAGERIAL ACCOUNTING COURSE OUTLINE Spring 2013 Instructor: Bill N. Schwartz, Ph.D., CPA Office: JC Long, Room 308 843-953-5299 Email: schwartzbn@cofc.edu Email: The best way to contact me. I respond quickly almost all the time. Office hours: By mutual convenience, i.e. we will set up a time we both can make. I am in my office Tuesday and Thursday. You can stop by and you may catch me. I will be happy to speak with you. Course Description: This course deals with the methods and principles of managerial accounting. It is concerned with the use of accounting data by individuals within a business in order to enhance managerial decision-making and control. Topics covered include cost estimation and management, cost accounting systems, cost allocation, decision analysis, budgets, variances, and responsibility accounting. Course Learning Objectives: The focus of this course is on the attributes of cost and management accounting systems. Students in ACCT 204 will demonstrate an understanding and be able to explain the following concepts: The nature and purpose of managerial accounting. Managerial accounting differs from financial accounting because managerial accounting is used to help managers plan and control the operations of the firm. The importance of managerial accounting information and techniques to parties within an organization in order to make optimal decisions, establish meaningful plans, implement strategies (i.e., control) and evaluate performance. The types of reports and information that managers need to make decisions. The flow of resources through manufacturing and service organizations along with the accumulation of different types of costs as these resources flow through an organization. 1
The differences between traditional costing and activity-based costing approaches. The purpose and types of organizational budgets. How responsibility accounting can allow organizations to monitor performance of cost, profit and investment centers and how to calculate and analyze variances resulting from comparison of actual and standard cost data. The difference between relevant and irrelevant information for business decision making as applied to various problems (i.e., acceptance/rejection of special orders, make or buy decisions, etc.) Classroom Environment: The class will work something like this: 1. The first day we cover a chapter I will lecture. You are to keep your text books closed during the lecture and to listen carefully to what I say. I expect you to take lecture notes as they will help you understand the reading and the in-class work and the homework. The notes also will help you a great deal for the exams. I will do some exercises from the textbook to illustrate the concepts and may ask you to do some as well. 2. The second day we cover a chapter we will go over homework and also do some exercises and problems in class. Your responses will count heavily toward your grade in class participation. You must come to class having attempted the homework and be ready to discuss it. "Attempted" does NOT mean you have the homework correct, but it does mean you made an effort. If there is a circumstance when you are not prepared, you should inform me before class so you will not be called upon. This should not occur frequently. 3. You may be asked to respond when you have not volunteered. If you wish to be a person who is successful in business you must learn to think on your feet and respond in tense situations. You will have a problem with this ONLY if you are not prepared for class. You must be prepared to acknowledge that you will make errors on the homework and will present wrong answers in class. You can learn from your mistakes if you can demonstrate the maturity to appreciate that making errors is normal and that you can learn from those errors. 2
Grading: I will use the following grading scale in assigning grades. A A = 93%, A - = 90.0 92.9% B B+ = 86.9 89.9%, B = 83.0 85.9%, B- = 80.0 82.9% C C+ = 76.0 79.9%, C = 73.0 75.9%, C- = 70.0 72.9% D D+ = 66.0 66.9%, D = 63.0 65.9%, D- = 60.0-62.9% F Below 60% Borderline grades can be affected by class participation. Semester Exams (4-100 points each) 400 Quizzes 50 Graded homework 50 Other homework, In-Class work and Participation 50 TOTAL 550 Semester Exams (100 points per exam): Exams will be multiple-choice, some quantitative and some not. You cannot miss an exam without my permission beforehand. There will not be any make-up exams. Additional Exam Policies 1. There will be no makeup exams. If you miss a test due to an excused absence, the grade on your fourth examination will be considered your grade for the missed test. An absence is considered unexcused unless and until it is classified as excused through the Office of the Dean of Undergraduate Studies. If you miss any test due to an unexcused absence, a grade of zero ( 0 ) will be assigned for that test. If you miss more than one exam, the final exam will be cumulative. 2. Final examinations must be administered only at the time and in the place stated on the Examination Schedule, except by written permission of the Dean. 3. During the exam, I will only answer clarification questions. 4. Cell phones must be turned off and put away in book bags, back packs, or purses. 5. You may not program formulas into calculators, unless explicitly approved by the professor. Only use calculators for addition, subtraction, multiplication and division. 3
6. Exams are the property of the professor and should never be removed from the classroom or the professor's office under any circumstances. Removal of an exam will, at a minimum, result in the change of your exam grade to a zero. Violations of this policy will also be reported to the Honor Court. Quizzes The first day we cover a chapter, starting with Chapter 2, you may have a quiz. It will be two (2) questions and will come directly from the 10 questions called Questions that appear at the end of each chapter just before Exercises. You will decide whether we have a quiz. One of you will pick a card from a deck of playing cards. If it is Ace, 2, 3, 4, 5 or 6 you will not have a quiz. If it is 8, 9, 10, Jack, Queen, or King you will have a quiz. If it is a Lucky 7 everyone present in class that day gets full credit for the quiz! Graded Homework- Wiley Plus Wiley Plus is a computer database developed by the textbook publisher to give you immediate feedback on homework problems. I have designated one homework problem per assignment for you to do on Wiley Plus. If you score 70% or better on the problem, you earn full credit. The percentage of graded homework where you score 70% or better will be multiplied times 50 points to determine your grade. For example, if you have 10 of 12 with scores of 70% or better, 10/12 = 83%. then.83 x 50 = 42. You would earn 42 points. Other Homework, In-Class work and Participation Textbook reading assignments They are indicated by date. In-depth reading for conceptual understanding is expected. I will lecture the first day we discuss a chapter. I expect you to take notes and failure to do so will lower your participation grade. Periodically during the lecture I will stop and do a textbook exercise as an illustration of the topic I am discussing. I expect you to write down the exercise number and the solution I place on the board or from an overhead transparency. Failure to do so will lower your participation grade. 4
1) Textbook written assignments The second day we discuss a chapter you will be assigned problems from the textbook. You must bring two copies to class, one to turn in and one for you to use during class. If you bring only one copy, I will not accept it as homework turned in. You must use it during class when we go over the homework. You must not turn in Messy homework, i.e. not neatly prepared and with good handwriting. I strongly encourage you to type and print your homework. It would be wise to type and then print two copies. I will not accept homework late and absence from class does not matter. If you are going to miss class, you can email me your homework but you must send it BEFORE class begins. The solutions to ALL textbooks problems appear on OAKS after we complete a chapter so for review you can work as many exercises and problems as you like and can check your answers against the solutions. 2. In-class work: I will assign you work in class. These assignments are every bit as important as the assignments as those you do at home. You must make a serious effort on in-class assignments in the same way as you do with homework. Therefore, when I assign work in class I will tell you how much time you have to complete it. At the end of that allowed time we will go over the assignment and correct it during class. I will observe your efforts, and my observations will be reflected in your grade. 3. Participation: I will prepare a set of 3 x 5 index cards and will shuffle them each class period. I will call on students in the order of the index cards. If I student is absent or does not have any response to offer, I will pull his/her card for the day and that will count negatively in grading participation. I would define excellent participation to include a person who attends class regularly, demonstrates an active interest in the subject matter, is alert and involved in class discussions, and volunteers frequently to ask meaningful and well articulated questions. 5
I would define average participation to include a person who attends class regularly or most of the time, seems only somewhat interested in the subject matter, is a passive listener, and only infrequently asks questions. I would define poor participation to include a person who attends class some of the time or infrequently, demonstrates little interest in the subject matter and never asks questions. Your classroom behavior will affect your grade. It can do so positively or negatively. It is up to you. First, you should come to class on time. You should be ready to work. Therefore, you should have all materials they need, i.e. pens, pencils, paper etc. If you expect to arrive late periodically, please inform me as soon as possible so I can arrange seating so your arrival will not disrupt class. Attendance also will affect your grade. The quality of participation is more important than the quantity but it is impossible to participate if you are absent. An excused absence does not alter that statement. In addition, a student with more than six (6) unexcused absences is subject to withdrawal from the class with a grade of WA assigned. Extra Credit: You can earn up to 20 points extra credit. You can earn 10 points for the following but you MUST follow these rules completely to earn any credit: 1. Summary of a minimum of two (2) full pages, typewritten, printed and double-spaced. 2. Article(s) come from any of the following journals; Corporate Board, CPA Journal, Financial Executive, Internal Auditor, Internal Auditing, Journal of Accountancy, Journal of Cost Management, Strategic Finance. 3. The article must a minimum of three pages in the journal. 4. The article must be from 2004 to the present. 5. The primary subject of the articles must be one of the following: Chapter 2 (Job-Order Costing, Overhead Costs, Predetermined Overhead Rates, Just-in-Time Inventory), Chapter 4 (Cost-Volume- Profit Analysis, Break-Even Analysis, Operating Leverage, Contribution Margin), Chapter 5 (Variable Costing, Full or Absorption Costing), Chapter 6 (Activity-Based Costing, Service Department Allocations), Chapter 7 (Sunk Costs, Opportunity Costs, Joint Costs, Outsourcing (Make vs. Buy Decisions), Chapter 8 (Target Costing, Target Pricing), Chapter 9 (Capital Budgeting Decisions), 6
Chapter 10 (Budgeting, Flexible Budgeting), Chapter 11 (Variance Analysis, Standard Costing), Chapter 12 (Responsibility Centers, Balanced Scorecard, Transfer Pricing). 6. You must include a reference; i.e. author s name, title of article, name of journal, month and year of article, pages of article. 7. You must attach a copy of the article with the summary. You can do as many as two (2) summaries. Extra Credit must be turned in at the beginning of class on Tuesday, March 12. Extra credit work is totally voluntary. Deadline also appears on the Schedule of Assignments. OTHER ITEMS: Other Items: 1. Bathroom trips: You should have used the lavatory facilities before class and be able to remain in class until I dismiss class. I do not expect to see students leaving class unless it is an absolute emergency. If for any reason you wish to leave during class time, please take your belongings with you and do not return. This means that you will lose the points for anything we do after that point. 2. Use of Laptops: Using your laptop during class for reasons that do not relate to the course is rude and disrespectful to me and your classmates. Therefore, use of laptops during class is strictly prohibited without my express consent. Failure to follow this course requirement will result in severe penalties. I will follow a zero tolerance policy. 3. Use of Cell Phones, IPods etc.: Use of any device of this nature is strictly prohibited. I will follow a zero tolerance policy. 4. Weather: When a class is canceled due to inclement weather, scheduled assignments or in-class exams are rescheduled for the next time the class meets. 5. Always bring your books to class. I will frequently refer to figures or problems in the book during class. 6. Appointments: I will schedule appointments with students outside of my regularly scheduled office hours if they have a conflict with my scheduled hours, as long as I will be on campus and don't have a scheduling conflict. The more notice I have for an appointment, the better the chance that I can be available. 7
7. Grade Information: I will not provide scores for any assignment, exam, or quiz via the telephone or by email. The Family Educational Rights and Privacy Act (http://www.ed.gov/offices/oii/fpco/ferpa/) prohibits me from discussing your grades in this course with your parents, with other members of your family, or with your friends. 8. Professional Behavior: This class will contribute to you becoming a respected professional; therefore, I fully expect you to behave professionally. Please do not sleep in class, talk in class, monopolize class time or make disrespectful comments. I will not embarrass you during class; however, I am observant and will note any of these actions. I do not expect you to be perfect, but if your behavior is obvious enough to distract me, then it is obvious enough to distract others STUDENT ETHICAL CONDUCT: HONOR SYSTEM: Lying, cheating, attempted cheating, and plagiarism are violations of our Honor Code that, when identified, are investigated. Each incident will be examined to determine the degree of deception involved. Incidents where the instructor determines the student s actions are related more to a misunderstanding will handled by the instructor. A written intervention designed to help prevent the student from repeating the error will be given to the student. The intervention, submitted by form and signed both by the instructor and the student, will be forwarded to the Dean of Students and placed in the student s file. Cases of suspected academic dishonesty will be reported directly by the instructor and/or others having knowledge of the incident to the Dean of Students. A student found responsible by the Honor Board for academic dishonesty will receive a XF in the course, indicating failure of the course due to academic dishonesty. This grade will appear on the student s transcript for two years after which the student may petition for the X to be expunged. The student may also be placed on disciplinary probation, suspended (temporary removal) or expelled (permanent removal) from the College by the Honor Board. Students should be aware that unauthorized collaboration--working together without permission-- is a form of cheating. Unless the instructor specifies that students can work together on an assignment, quiz and/or test, no 8
collaboration during the completion of the assignment is permitted. Other forms of cheating include possessing or using an unauthorized study aid (which could include accessing information via a cell phone or computer), copying from others exams, fabricating data, and giving unauthorized assistance. Research conducted and/or papers written for other classes cannot be used in whole or in part for any assignment in this class without obtaining prior permission from the instructor. Students can find the complete Honor Code and all related processes in the Student Handbook at http://studentaffairs.cofc.edu/honor-system/studenthandbook/index.php DISABILITY STATEMENT: The College will make reasonable accommodations for persons with documented disabilities. Students should apply for services at the Center for Disability Services located on the first floor of the Lightsey Center, Suite 104. Students approved for accommodations should notify their professors as quickly as possible. Students with disabilities who have the proper documentation from SNAP services for extended exam times will be required to take exams at SNAP services. (This is assuming you want to use the additional time, if not you are welcome to take the exam with your classmates). Those students who wish to take exams in the SNAP office must turn in exam envelops to me at least 48 hours prior to the scheduled exam time. I will deliver the exam to and pick the exam up from the SNAP services office. 9