ACCT*2230*01 Management Accounting Winter 2016 Course Weight: 0.5 General Course Information Instructor: Email: Office Location: Office Hours: Department/School: TA: Email Office Hours Alireza Talebi, MBA, M. Fin. atalebi@uoguelph.ca Room 205, J.D. MacLachlan Building (MCLN) By Appointment Management Alex (Quan) Wan wanq@uoguelph.ca By appointment Class Schedule: Mondays, 7:00 pm 9:50 pm Class Location ROZH 101 Final Exam: Pre-requisites: April 21, 2016; 02:30PM - 04:30PM One of ACCT*2220, AGEC*2220, or BUS*2220 Course Description This course emphasizes the use of accounting information to facilitate effective management decisions. Topics include cost determination, cost control and analysis, budgeting, profit-volume analysis and capital investment analysis. Course Learning Outcomes By the end of this course successful students will be able to: 1. Distinguish between financial accounting and managerial accounting and identify and list their attributes; 2. Explain and distinguish cost terms, concepts, and classification (or develop a comprehensive and critical understanding of cost terms, behaviour, and CVP relationship); 3. Identify fixed, variable, and mixed costs by solving various examples; 4. Prepare a simple cash budget for your own trip plan; 5. Clearly analyze and interpret the behaviour of costs and its application in decision making; 6. Determine through Cost-Volume-Profit analysis the optimal managerial decisions; 7. Apply budgeting and budget projection tools in a business setting; 8. Incorporate managerial accounting tools in their decision-making processes for immediate and longterm decisions; 9. Apply job-order costing and activity based costing to determine the cost of items; 10. Distinguish between static and flexible budget, standard and actual costs, and relevant and irrelevant costs. 1
Indicative Content Week Date Topic 1 Jan 11 CH 1: Managerial Accounting and The Business Environment CH 2: Cost Terms, Concepts and Classifications 2 Jan 18 CH 3: Cost Behaviour: Analysis and Use Pre-Class Activities/Readings Read Chapters 1 & 2 Take the pre-class assigned Read Chapter 3 3 Jan 25 CH 4: Cost-Volume-Profit Relationships Read Chapter 4 Try the assigned 4 Feb 1 CH 5: Systems Design: Job-Order Costing 5 Feb 8 Ch. 7: Activity-Based Costing: A Tool to Aid Decision Making Read Chapter 5 Read Chapter 7 Post-Class Activities Take the post-class assigned 6 Feb 15 Winter Break No Class 7 Feb 22 Midterm Exam: In Class Monday, Feb 22 nd (Covers week 1 5; Chapters 1, 2, 3, 4, 5, and 7) 8 Feb 29 CH 8: Variable Costing: A Tool for Management Read Chapter 8 9 Mar 7 CH 9: Budgeting: for costs and cash Read Chapter 9 10 Mar 14 CH 10: Standard Costs Read Chapter 10 11 Mar 21 CH 11 Reporting for Control Read Chapter 11 12 Mar 28 CH 12: Relevant Costs for Decision Making CH 13: Capital Budgeting Decisions Read Chapters 12 & 13 Take the pre-class assigned Take the post-class assigned 13 Apr 4 Review and Q&A Session 14 Apr 21 Final Exam (Cumulative; Chapters 1, 2, 3, 4, 5, 7, 8, 9, 10, 11, 12, and 13) Thursday, 02:30PM - 04:30PM (Room TBA) Note: The schedule of learning activities may require modification from time to time. Any changes will be announced in class and/or on the Courselink site. The final examination schedule for the semester can be found on the Office of Registrarial Services website. 2
Recommended End of Chapter Questions: Chapters 1 & 2 E1-1, E1-2 E2-1, E2-2, E2-3, E2-4, E2-5, E2-10, P2-13, P2-15, P2-16, P2-19, P2-21, P2-22 Chapter 3 E3-1, E3-3, E3-5, E3-6, E3-7, P3-15, P3-16 Chapter 4 E4-3, E4-4, E4-5, E4-6, E4-7, E4-8, E4-10, E4-15, P4-19, P4-24 Chapter 5 E5-3, E5-5, E5-6, E5-8, E5-11, P5-17 Chapter 7 E7-2, E7-3, E7-4, E7-12, P7-19 Chapter 8 E8-1, E8-2, E8-3, E8-7, P8-10, P8-13, P8-14, P8-17 Chapter 9 E9-1, E9-2, E9-7, E9-8, P9-12, P9-15, P9-20, Chapter 10 E10-1, E10-2, E10-3, E10-4, E10-5, E 10-7, E10-8, P10-18, P10-21, P10-22, P10-30 Chapter 11 E11-1, E11-2, E11-3, E11-4, E11-5, E11-6, E11-7, E11-8, P11-13, P11-16 Chapters 12 & 13 E12-1, E12-2, E12-3, E12-4, E12-5, E12-6, E12-7, E12-8 E13-4, E13-5, P13-9, P13-26 Course Assessment # Assignment/Examination Date Associate Learning Marks Outcomes Allocated 1 Top Hat (participation) During class 1, 2, 3, 4 5% Top Hat (correct answer) During class 1, 2, 3, 4 10% 2 Connect (pre-class quizzes) See Connect 1, 2, 7 5% Connect (post-class quizzes) See Connect 1, 2, 4, 5, 6, 7 10% 3 Midterm Exam February 22 1, 2, 5, 6 30% 4 Final Exam April 21 1, 2, 3, 4, 5, 6, 7 40% TOTAL 100% Keep a copy of all of your graded work until final marks have been recorded. You may be asked to resubmit your work at any time. Midterm The midterm will be held in class on Monday, February 22, and will cover weeks 1 5 (Chapters 1, 2, 3, 4, 5 & 7). More details regarding the midterm will be posted on Courselink. There is no deferred midterm. If you miss the midterm you must provide a valid reason (i.e. illness or bereavement) and supporting documentation within one week of the missed midterm. If this is provided, the weight of the midterm will be added to your final exam. Final Exam The final exam is cumulative and will cover the entire course. While the focus will be on material covered after the midterm, specific concepts from before the midterm could be tested. In addition, much of the material in the later portion of the course builds on material covered in the earlier weeks. The final exam is scheduled for Thursday, April 21, 02:30PM - 04:30PM. The final examination schedule for the semester can be found on the Office of Registrarial Services website. Teaching and Learning Practices Lectures: There will be a weekly lecture for this course. I will use slides to explain the major concepts, then, I will solve some of the end of chapter and explain them step by step. Meanwhile, I use top hat to make sure students understand the basic concepts and also they receive appropriate 3
feedback. To get best of lectures, it is highly recommended to study slides and do the pre-class quizzes. It helps you to follow the lecture and in result the learning process will be completed. Top Hat: Connect: To improve students performance and participation during the class, in this course top hat will be used. You re required to purchase the access to this website (information are provided in the required materials section). During the class, through top hat, I will ask you some related to materials we cover in that specific lecture. You will be given time to answer the question. One third of mark will be given to just participation (any answer) and two third to the correct answer. In total, 5% of the course grade is dedicated to participation and 10% to the correct answer which bring top hat contribution to your total mark as 15%. Two lowest top hat grades (two days) will be dropped at the end of semester. This includes any missing class or contribution. It means you will be able to miss up to two classes for any reason (illness, family issue, and so on). There will be weekly assignments which are available through Connect website. Instruction to get access and purchase the access key are provided in the required materials section. The schedule is also posted in the Connect website. 5% is assigned to pre-class quizzes and 10% to post-class quizzes. The scheduled due dates are pre-determined and cannot be changed. Make sure you don t miss the deadline. Two lowest Connect grades (two for pre-class and two for post-class quizzes) will be dropped. This includes any missing quiz. It means you will be able to miss up to two quizzes (pre and post) for any reason (illness, family issue, forgetfulness, busyness, and so on). You can find the opening and closing dates for pre- and post-class quizzes as follows: # Chapter Pre-Quiz Opening Mondays 10 pm Pre-Quiz Closing Sundays 11:59pm Post-Quiz Opening Mondays 10 pm Post-Quiz Closing Sundays 11:59 pm 1 1 & 2 Jan 4 Jan 17 Jan 11 Jan 24 2 3 Jan 11 Jan 24 Jan 18 Jan 31 3 4 Jan 18 Jan 31 Jan 25 Feb 7 4 5 Jan 25 Feb 7 Feb 1 Feb 14 5 7 Feb 1 Feb 14 Feb 8 Feb 21 6 8 Feb 22 Mar 6 Feb 29 Mar 13 7 9 Feb 29 Mar 13 Mar 7 Mar 20 8 10 Mar 7 Mar 20 Mar 14 Mar 27 9 11 Mar 14 Mar 27 Mar 21 Apr 4 10 12 & 13 Mar 21 Apr 4 Mar 28 Apr 10 Course Resources Required Texts Managerial Accounting, 10 th Canadian Edition (2014) by Garrison/Libby/Webb (Preferred) OR Managerial Accounting, 9 th Canadian Edition (2012) by Garrison/Chesley/Carroll/Webb/Libby Other Required Resources Connect (my section) http://connect.mheducation.com/class/a-talebi-winter-2016 o How to Register for Connect http://connect.customer.mheducation.com/students-how-to-order/ Top Hat Access https://app.tophat.com/e/665228 4
Course Policies Grading Policies You can find Undergraduate Degree Regulations and Procedures in the following link: http://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-grds.shtml Please note that these policies are binding unless academic consideration is given to an individual student. Course Policies on Communication I will be communicating with you via News section of your courselink. You are required to check it on a regular basis. I have a TA who is in charge of replying your emails. You should contact him first. In case he identifies, he will forward me your email. Still, you can send me your private or non-technical. While my TA and I endeavour to check our emails daily, students can reasonably expect a response from us within 72 hours. This course has a website (see Courselink website) and discussion forums have been created for each chapter. You can use these forums to post you have about the course as well as respond to other student s posts (explaining something you understand to another student will help to clarify your own understanding). These forums are made available to give students an opportunity to communicate with each other regarding the course content. You should note, however, that due to the large number of students in the class, I cannot guarantee I will be able to respond to your post. Also, it is expected that this discussion forum will be used for class purposes only and that students will follow proper etiquette. Course Philosophy and Approach The emphasis of this course is on learner-centeredness, in accordance with the University s Mission Statement. I have taught Management Accounting since 2011 and I believe that learning improves when students are actively engaged in the course. This means that when you come to class you will find I will spend some time initially explaining the basic concepts we are covering that day. After covering one topic, right away, I will ask you some question via Top Hat and then I will solve some related problems. This means that you will get the most out of our class time if you have done some of your own learning before class. Before you come to class you should: Read the chapter, Attempt the listed under Recommended End of Chapter Questions, Do the pre-class quiz listed on Connect. This pre-learning will help you get the most out of our weekly classes. If you have a general understanding of the topic, and if you have tried some of the assigned, and answered the Connect, then during class you can increase your understanding of the topic and figure out what you didn t understand in the assigned. Management Accounting, like Financial Accounting, is a subject you need to learn by reading (i.e. reading the chapter so you understand the underlying theory) and by doing (i.e. working through problems so you understand how to apply the theory). I will discuss specific powerpoint slides from the textbook (these are posted to courselink), I will not go through each slide individually. You are encouraged to review the slides either before or after class, but 5
remember that it is the reading in the chapter that is assigned. While powerpoint slides are useful in summarizing and communicating information, they often skim over information that is important when you are learning a subject. Since we have a very large class, to get best of this class, I would recommend you to follow the following instructions: We use top hat for this course through the semester. Make sure, you bring your own laptop or smartphone for each lecture to be able to use this tool. You can also use this website to post your (in Discussion section). I do my best to answer your during the class. The purpose of attending in class is listening and learning. If you feel the class is useful and you learn something it s recommended to attend in the class and for sure do not disturb the learning process of the rest. In summary: RESPECT to those who are here to listen and learn! Course Policy regarding use of electronic devices and recording of lectures You are encouraged to bring your own personal computer or handheld devices for your own usage. However, electronic recording of classes is expressly forbidden without consent of the instructor. When recordings are permitted they are solely for the use of the authorized student and may not be reproduced, or transmitted to others, without the express written consent of the instructor. University Policies Academic Consideration When you find yourself unable to meet an in-course requirement because of illness or compassionate reasons, please advise the course instructor in writing, with your name, id#, and e-mail contact. See the academic calendar for information on regulations and procedures for Academic Consideration: http://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-ac.shtml Academic Misconduct The University of Guelph is committed to upholding the highest standards of academic integrity and it is the responsibility of all members of the University community, faculty, staff, and students to be aware of what constitutes academic misconduct and to do as much as possible to prevent academic offences from occurring. University of Guelph students have the responsibility of abiding by the University's policy on academic misconduct regardless of their location of study; faculty, staff and students have the responsibility of supporting an environment that discourages misconduct. Students need to remain aware that instructors have access to and the right to use electronic and other means of detection. Please note: Whether or not a student intended to commit academic misconduct is not relevant for a finding of guilt. Hurried or careless submission of assignments does not excuse students from responsibility for verifying the academic integrity of their work before submitting it. Students who are in any doubt as to whether an action on their part could be construed as an academic offence should consult with a faculty member or faculty advisor. The Academic Misconduct Policy is detailed in the Undergraduate Calendar: https://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-amisconduct.shtml Accessibility The University of Guelph is committed to creating a barrier-free environment. Providing services for students is a shared responsibility among students, faculty and administrators. This relationship is based on respect of 6
individual rights, the dignity of the individual and the University community's shared commitment to an open and supportive learning environment. Students requiring service or accommodation, whether due to an identified, ongoing disability or a short-term disability should contact Student Accessibility Services (SAS) as soon as possible. For more information, contact SAS at 519-824-4120 ext. 56208 or email csd@uoguelph.ca or see the website: http://www.uoguelph.ca/csd/ Course Evaluation Information Please refer to the Course and Instructor Evaluation Website Drop date The last date to drop one-semester courses, without academic penalty, is March 11, 2016. For regulations and procedures for Dropping Courses, see the Academic Calendar: https://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-drop.shtml 7