Fall 2017 ACC 3040 Page 1 of 10 University of Manitoba I.H. Asper School of Business Department of Accounting and Finance ACC 3040 - Cost Accounting Course Outline Fall 2017 A01 Tuesday and Thursday 10:00 AM 11:15 AM A02 Tuesday and Thursday 11:30 AM 12:45 PM Instructor: Office: Office Hours: E-mail: Dr. Robert Biscontri, Ph.D., FCPA(Aust.), CPA, CGA 476 Drake By email or Face-to-face: By appointment at https://robertbiscontri.youcanbook.me r.biscontri@umanitoba.ca Course Objective: The course goals are to develop an understanding of the application of strategic cost management principles for business and not-for-profit organizations, and to provide an opportunity to develop skills in applying these principles through exercises and cases. The management accountant s role is to provide timely and accurate information to assist management in achieving the firm s goals. This is an integrative role, which requires the management accountant to understand the firm s strategy, and to understand how both financial and non-financial information is developed across all the management functions. There are five specific goals, each of which is covered in sequence in the five parts of the course: 1) Understand the fundamentals of management accounting, including the strategic focus, and other basic cost terms and concepts 2) Determine product costs 3) Use costs and other critical success factors in management planning and decision making 4) Use costs and other critical success factors in operational control 5) Use costs and other critical success factors in management control
Fall 2017 ACC 3040 Page 2 of 10 Course Objective Cont d: AACSB Assurance of Learning Goals and Objectives. The Asper School of Business is proudly accredited by AACSB. Accreditation requires a process of continuous improvement of the School and our students. Part of student improvement is ensuring that students graduate with the knowledge and skills they need to succeed in their careers. To do so, the Asper School has set the learning goals and objectives listed below for the Undergraduate Program. The checked goal(s) and objective(s) will be addressed in this course and done so by means of the items listed next to the checkmark. Goals and Objective in the Undergraduate Program Goals and Objectives Addressed in this Course Course Item(s) Relevant to these Goals and Objectives 1 Quantitative Reasoning A. Determine which quantitative analysis Entire course technique is appropriate for solving a specific problem. B. Use the appropriate quantitative method in a Entire course technically correct way to solve a business problem. C. Analyze quantitative output and arrive at a conclusion. Entire course 2 Written Communication A. Use correct English grammar and mechanics in their written work. Written case assignments B. Communicate in a coherent and logical manner Written case assignments C. Present ideas in a clear and organized fashion. Written case assignments 3 Ethical Thinking A. Identify ethical issues in a problem or case Entire course situation B. Identify the stakeholders in the situation. Entire course C. Analyze the consequences of alternatives Entire course from an ethical standpoint. D. Discuss the ethical implications of the Entire course decision. 4 Core Business Knowledge Entire course Knowledge, techniques and skills learned in this course are fundamental to a successful career as an accountant. Mastery of course materials and competencies is required to pass examinations that lead to professional accounting designations.
Fall 2017 ACC 3040 Page 3 of 10 Textbook and Course Materials: 1. Cost Management: A Strategic Emphasis, Blocher, Chen, Cokins, Lin. McGraw-Hill; 7 th edition. Book alone ISBN: 978-0-07-773377-3; CEI e-book: 9781259293757. Students can purchase either an e-book or a hard copy. There is no econnect-assignments this term. Please note that while the text is the primary source of information for the course, class notes, and class discussions are important. Thus, you are responsible for the text material and class discussions for examination purposes. For each text chapter assigned, recommended problems will be assigned. Solutions to all after-chapter problems are available in Excel format on UM Learn (see instructions below). Text questions will also be discussed in class, so it is encouraged that you bring your text to each class or at least a scanned copy of those questions covered (see course schedule). The schedule is likely to change, so keep checking UM Learn. This course represents an extension of Managerial Accounting (ACC 1110). A review of certain ACC 1110 materials is necessary although class time used for this purpose will be limited. 2. PowerPoint Class Notes in UM Learn: Follow the instructions below to log into UM Learn: 1) The UM Learn website address is: https://universityofmanitoba.desire2learn.com/ 2) Sign in using your University of Manitoba UMnetID. (If you do not have a UMnetID, go to the Iridium website at: https://iridium.umanitoba.ca/ and click on Create UMnetID.) 3) From your Summer 2017 list of courses, click on ACC-3040. 3. A laptop is required for each class to follow the Excel based in-class work and illustrations. Check with the library if you need to borrow one.
Fall 2017 ACC 3040 Page 4 of 10 Grade Allocation: 2% Test your ethical judgement survey in UM Learn in class on September 7, 2017 8% In-class individual work the number of these works will be determined throughout the term. At least one of the lowest scores will be ignored. 20% Group Case due during the final exam period and submitted through UMLearn 70% 100% Combined score from 4 class tests throughout the term. Tests will be administered during your normal class and will be approximately 60-65 mins in duration. Individual test weightings must be decided by the student by December 1. Weightings will be submitted via UM Learn in a Quiz set up for the purpose. DO NOT EMAIL WEIGHTINGS. Test 1 10-Oct-2017 Test 2 26-Oct-2017 Test 3 21-Nov-2017 Test 4 7-Dec-2017 For students who miss the midterm for legitimate reasons, the weight of the test will be allocated equally to the remaining tests. If a student misses more than one test or misses the final test then they will be required to sit a 2-hour comprehensive online exam covering all weeks on December 11, 2017. This exam must be completed in the Drake Centre. Absence from test due to illness requires a medical certificate. Note that a conflict with employment is not an excused absence considered by the University. If you miss any test for non-legitimate reasons you will be given a score of 0 (zero) for that test. There will be NO DEFERRED TEST privileges. In-Class Work and Discussions The questions in Excel format will be available for download during class, so you are expected to bring a laptop to use in class. Check with the library if you need to borrow one. It is expected you will come prepared to discuss the material the in-class assignment(s) is covering. Although you are only responsible for one question or two to be submitted to the UM Learn Dropbox, it is expected you will attempt all the in-class assigned questions. The score from the worst assignment will be removed from the assessment mark calculation. Full credit will be awarded to an in-class work with 80% completion. Class Tests There will be four (4) tests during the term. These tests are designed to test the material covered
Fall 2017 ACC 3040 Page 5 of 10 in the course, in a comprehensive manner throughout the term. These tests will negate the need for a formal midterm or final exam. The tests will be conducted using UM Learn and be conducted in the Lockdown mode available in the UM Learn environment during your usual class. It is your responsibility to ensure that your computer has the Lockdown system installed and tested prior to the first text. Practice tests in Lockdown will be made available prior to the first test so that students can make sure their systems are set up correctly. You Professor can provide some technical advice in that area but more difficult questions will need to be asked of University IST and this may take some time. Please make sure you don t leave this to the last minute. If you don t have a laptop or yours isn t working at the moment of the exam you will be able to do the test in the faculty labs. All lab computers have Lockdown installed. These 4 tests will form 70% of your overall grade. Students will be able to decide their own weighting of each of these tests. If students do not report their weighting prior to the deadline the assumption will be made that each test will carry a weight of 25% of the overall assessment component. Each test must be weighted at least 20% (i.e. 14% of your overall assessment) and a maximum of 40% (i.e. 28% of your overall assessment). Weightings must be reported as part of a quiz within the UM Learn system by December 1. Weighting can be entered and changed up until this date. Details and the system will be covered in class later in the term. You are not permitted to attempt any of the class tests in a class you are not enrolled in!! Tests will only be available during the class period you are enrolled in and you will not have access to tests written for another class. Each class will have a unique test covering exactly the same materials with the same level of difficulty. Students will be allowed to have with them ONE double sided 8 x11 sheet containing notes/formula of their choice. Students using sheets of ANY other size will be seen as academic dishonesty and treated accordingly by the Dean s office. Group Case During the examination period, you will be required to prepare a group response to a case. Groups will be assigned after revision period is over and viewable in UM Learn course site. Groups will be assigned randomly but the UM Learn system. The case response will be submitted as one final file (Excel with a Word document) via the UM Learn Dropbox function. These cases will have a heavy Excel component and a comprehensive written analysis of the mechanics in the Excel file. Details of what is expected in the case will be discussed in class throughout the term. The case will build on materials and topics covered throughout the term so it s in your groups best interest to think about the case while the materials are being covered in class. Starting early ALWAYS leads to a higher grade. Each group will have a case slightly different to other groups. Cases need only be submitted once by one group member and the system will automatically assign the work to all group members. ALL group members are responsible for the final content of the case submitted. It is in your best interest to ensure that there have been no collusive or academically dishonest behaviors in the file or used to develop the response. Anything suspicious will be reported immediately to the Deans office and dealt with accordingly. Case details will be provided in UM Learn later in the term.
Fall 2017 ACC 3040 Page 6 of 10 All case responses submitted will be retained for future terms to ensure students do not share their answers with students who may be assigned the cases in the future. If you are found giving your solution to other students, you along with the recipient students will be dealt with under the Academic Integrity guidelines of the faculty. Group Evaluation Each group is responsible for the governance within the group. In extreme cases of dispute or inequitable workload within the group, all of the group members are to make an appointment with your instructor in order to mediate the situation. Appointments with only some of the group members will not suffice. The instructor reserves the rights to make determinations based on any submitted work if there is evidence of freeloading. The determinations include but are not limited to an arbitrary reduction in one person s mark for the assignment. Final Grade Tentative Distribution Final grades are based on the student s weighted mark and performance relative to other students. Grades will be curved. It should be clear though that there is absolutely no requirement that a minimum number of students either fail or receive a D in the course. The final grade distribution will be determined at the end of term once all results of all students have been combined. Average grades for each of the assessment items will be made available in UM Learn so students have an idea of their progress during the term. Enterprise Resource Planning (ERP) The faculty is currently negotiating with an ERP provider that will hopefully give our class access to a fully integrated system. It s hoped that this will be available at some point during the term. In order for this to be incorporated into the syllabus some topics may have to be moved slightly. So topics, and dates are all subject to change until the details are finalized. Computing Lab As you know the faculty is in the process of upgrading the old Scotiabank computer lab on the second floor of the Drake Centre. We are hoping at some of our classes will be moved to that lab as soon as it becomes available. Please keep a close eye on UM Learn for important announcements regarding the location of classes and class tests. If you are ever unsure please go to the announcements page on UM Learn.
Fall 2017 ACC 3040 Page 7 of 10 Tentative Homework Assignments and Class Topics ** Please note that the course has been changed since it was offered in the summer and the dates listed below are tentative. Class materials will be covered in sequential order and the dates are representative. If topics are covered early then the next topic will be commenced in that class which means the class may run ahead of the schedule. Both classes (10:00am and the 11:30 and classes) will always remain at the same point. One class will not end at a different point to the other class. Date Topic & Assigned Reading Homework 7/9 12/9 Class Introduction Ch. 1: Introduction to Strategy, Cost Management, and Cost System Ethical judgement survey in class using your laptop Chapter 1 1-3, 1-6, 1-10, 1-12, 1-16, 1-18, 1-23, 1-24, 1-28, 1-36, 1-45, 1-47, 1-49 14/9 Ch. 2: Implementing strategy: The Value Chain, the Balanced Scorecard, and the Strategy Map Class Example 19/9 Ch. 5: Activity Based Costing and customer Profitability Analysis Class Example Chapter 2 2-1, 2-3, 2-4, 2-5, 2-6, 2-8, 2-14, 2-15, 2-16, 2-17, 2-22, 2-23, 2-29, 2-32, 2-40, 2-41, 2-42, 2-43, 2-49, 2-58 Chapter 5: pages 138-150 (Review of ACC 1110 contents: pages 132-138) 5-13, 5-14, 5-15, 5-30, 5-34, 5-35, 5-36, 5-37, 5-40, 5-46, 5-50 21/9 26/9 28/9 Process Costing, Backflush Costing, and Spoilage In-Class Assignment(s) Chapter 6 6-1, 6-4, 6-5, 6-6, 6--7, 6-11, 6-12, 6-14, 6-15, 6-16, 6-18, 6-20, 6-24, 6-25, 6-31, 6-32, 6-34, 6-37, 6-38, 6-41, 6-46, 6-47, 6-48, 6-52, 6-53 Bolded ones are class examples
Fall 2017 ACC 3040 Page 8 of 10 3/10 Cost Allocation: Service departments and Joint Products In-Class Assignments Chapter 7 7-1, 7-3, 7-4, 7-7, 7-9, 7-10, 7-11, 7-12, 7-13, 7-14, 7-17, 7-18, 7-19, 7-20, 7-32, 7-33, 7-34, 7-37, 7-39, 7-45, 7-47, 7-48 10/10 In Class Test Chapters 1, 2 5, and 6 Covering work done in Days 1-7 12/10 17/10 Ch. 11: Decision Making with a Strategic Emphasis In-Class Assignments Chapter 11 (omit appendix) 11-1, 11-2, 11-3, 11-4, 11-5, 11-6, 11-7, 11-8, 11-9, 11-12, 11-14, 11-15, 11-16, 11-18, 11-20, 11-21, 11-23, 11-27, 11-30, 11-32, 11-33, 11-35, 11-37, 11-47 26/10 In Class Test Comprehensive Test Focusing on Chapters 7, and 11 Focusing on work done in Days 8-12 24/10 31/10 2/11 7/11 Product life cycle, Target Costing, Theory of Constraints and Long-Term Pricing In-Class Assignments Ch. 14: Operational Performance Management: Standard Cost & Operating Variances Chapter 13 13-1, 13-2, 13-3, 13-4, 13-5, 13-6, 13-7, 13-8, 13-9, 13-10, 13-11, 13-12, 13-13, 13-14, 13-15, 13-16, 13-17, 13-18, 13-19, 13-20, 13-21, 13-22, 13-23, 13-24, 13-25, 13-26, 13-27, 13-29, 13-30, 13-32, 13-34, 13-35, 13-36, 13-41, 13-45, 13-47, 13-48 Chapter 14 14-1, 14-2, 14-3, 14-4, 14-5, 14-6, 14-7, 14-8, 14-9, 14-10, 14-11, 14-12, 14-13, 14-14, 14-15
Fall 2017 ACC 3040 Page 9 of 10 9/11 14/11 16/11 23/11 Ch. 15: Operational Performance Measurement: Operating Variances in Details Class Example In-Class Assignment A Ch. 16: Operational Performance Measurement: Further Analysis of Productivity and Sales In-Class Assignment B Chapter 15 (omit appendix) 15-2, 15-3, 15-4, 15-5, 15-6, 15-8, 15-14, 15-15, 15-16, 15-17, 15-18, 15-19, 15-20 15-21, 15-22, 15-23, 15-27, 15-28, 15-29, 15-33, 15-36, 15-44, 15-45, 15-49 Chapter 16 16-2, 16-4, 16-5, 16-9, 16-11, 16-14, 16-15, 16-18, 16-21, 16-22, 16-23, 16-24, 16-25, 16-26, 16-27, 16-28, 16-32, 16-39, 16-40, 16-45, 16-46, 16-48, 16-51, 16-52, 16-53, 16-56, 16-58 21/11 In Class Test Comprehensive Test Focusing on Chapters 13, 14, and 15 Focusing on work done in Days 14-20 28/11 30/11 Ch. 18: Strategic Performance Measurement: Cost Centres, Profit Centres and the Balanced Scorecard Chapter 18 18-4, 18-6, 18-7, 18-8, 18-11, 18-12, 18-16, 18-19, 18-22, 18-23, 8-24, 18-25, 18-26, 18-27, 18-29, 18-30, 18-33, 18-38, 18-44, 18-55, 18-57, 18-63 30/11 5/12 Ch. 19: Strategic Performance Measurement: Investment Centres and Transfer Pricing Class Example In-Class Assignments 26/12 In Class Test Chapter 19 19-1, 19-3, 19-6, 19-7, 19-13, 19-14, 19-15, 19-16, 19-17, 19-18, 19-19, 19-20, 19-21, 19-24, 19-25, 19-27, 19-32, 19-36, 19-42, 19-47, 19-49, 19-52 Comprehensive Test Focusing on Chapters 16, 18, and 19 Focusing on work done in Days 21-26
Fall 2017 ACC 3040 Page 10 of 10 Academic Integrity It is critical to the reputation of the I. H. Asper School of Business and of our degrees that everyone associated with our faculty behaves with the highest academic integrity. As the faculty that helps create business and government leaders, we have a special obligation to ensure that our ethical standards are beyond reproach. Any dishonesty in our academic transactions violates this trust. The University of Manitoba Undergraduate Calendar addresses the issue of academic dishonesty under the heading Plagiarism and Cheating. Specifically, acts of academic dishonesty include, but are not limited to: using the exact words of a published or unpublished author without quotation marks and without referencing the source of these words duplicating a table, graph or diagram, in whole or in part, without referencing the source paraphrasing the conceptual framework, research design, interpretation, or any other ideas of another person, whether written or verbal (e.g., personal communications, ideas from a verbal presentation) without referencing the source copying the answers of another student in any test, examination, or take-home assignment providing answers to another student in any test, examination, or take-home assignment taking any unauthorized materials into an examination or term test (crib notes) impersonating another student or allowing another person to impersonate oneself for the purpose of submitting academic work or writing any test or examination stealing or mutilating library materials accessing tests prior to the time and date of the sitting changing name or answer(s) on a test after that test has been graded and returned submitting the same paper or portions thereof for more than one assignment, without discussions with the instructors involved. Group Projects and Group Work Many courses in the I. H. Asper School of Business require group projects. Students should be aware that group projects are subject to the same rules regarding academic dishonesty. Because of the unique nature of group projects, all group members should exercise special care to insure that the group project does not violate the policy on Academic Integrity. Should a violation occur, group members are jointly accountable unless the violation can be attributed to a specific individual(s). Some courses, while not requiring group projects, encourage students to work together in groups (or at least do not prohibit it) before submitting individual assignments. Students are encouraged to discuss this issue as it related to academic integrity with their instructor to avoid violating this policy. In the I. H. Asper School of Business, all suspected cases of academic dishonesty are passed to the Dean s office in order to ensure consistency of treatment.