Program(s): Business Accounting, Business Admin Accounting
Program Coordinator(s): Sally Mitzel
Course Leader or Contact: Alison Feierabend
Version: 20.0
Status: Approved - Under Rev (AREV)

Section I Notes: ACCG23626 and ACCG20478 together qualify for exemption toward the CGA course of study with a grade of "B" or better. This course is taught in a mobile computing environment.

Detailed Description
This course is a continuation of managerial accounting with an emphasis on cost control and analysis of internal accounting data to plan for future operations and to evaluate past performance.

Program Context

 Critical Performance:

By the end of this course, students will have demonstrated the 
ability to use managerial accounting reports and analytical tools to 
plan, control and evaluate an organization.  
   
Learning Outcomes:

To achieve the critical performance, students will have demonstrated 
the ability to: 
 
1. Develop a product's cost by determining the amount of direct 
   material, direct labour and manufacturing overhead to apply to a  
   unit of product.

2. Prepare a formal departmental production report applying 
   appropriate costing techniques in a process costing system.

3. Prepare the journal entries required to record inventory flow in a 
   process cost system.

4. Use activity based costing as a tool to aid decision making.

5. Compare product cost per unit under the traditional vs. activity 
   based costing approach.

6. Allocate service department costs using either the step or direct 
   method.

7. Allocate variable and fixed costs at both the beginning and end of 
   a period and charge any over (under) run to the correct department.

8. Use cost and revenue variances as a tool for improved decision 
   making and evaluation of key personnel.

9. Create a flexible budget and develop an overhead performance 
   report for use in directing and controlling a corporation.

10.Identify relevant costs and develop decision making models that 
   can be used to support recommendations made to the management  
   team  to improve overall profitability of a company.

11.Analyze the various costs of quality.

Interactive Presentations (Best 5 of 7, 1% each)*     5%
Homework Assignments (3 @ 2% each)*	              6%
Group Report and Presentation**	                      9%
Mid-term Exam (Modules 1 through 3)	             40%
Final Exam (Comprehensive Modules 1 through 7)	     40%
Total	                                            100%
	
*These assignments are completed online, outside of class time. 
Failure to complete an assignment by the due date will result in a 
zero on that assignment. No makeups or extensions are available.

**The group report will be prepared outside of class and will be due 
before the presentation takes place. The presentations will take place 
in Week 13.

"Managerial Accounting", Garrison, Chesley, Carroll, Webb & Libby
9th Canadian Edition, McGraw-Hill Ryerson

Students will be required to use Connect.  It is included with new 
copies of the textbook.  Connect also includes an e-book so 
purchasing a hard copy of the textbook is optional.  Connect can be 
purchased separately directly from the McGraw-Hill website.

Module 1:  Systems Design - Process Costing

- Compare and contrast job order costing and process costing
- Prepare process cost flow journal entries
- Compute equivalent units of production using either the 
  weighted average or FIFO methods
- Prepare production cost report using either the weighted 
  average or FIFO methods.
- Assignments

Reference: Chapter 4, Appendix 4A

Module 2: Service Department Allocations

- Allocate service department costs using various methods
- Assignments

Reference: Chapter 10, Appendix 10A and Appendix 10B

Module 3: Activity Based Costing
- Assign costs to cost pools using a first-stage allocation
- Assign costs using a second-stage allocations
- Calculate product and customer margins
- Compare product cost per unit using traditional and activity-
  based costing methods

Reference: Chapter 5, Appendix 5B

Mid-term Exam (40%) - Chapter 4, Appendix 4A, Appendix 4B, Chapter 5, 
and Appendix 5B (Modules 1, 2 & 3)

Module 4: Relevant Costs for Decision Making

- Describe how various cost concepts are used in decision making
- Identify costs as relevant or not relevant to decisions
- Using the differential approach to decision making 
- Perform an analysis to determine if a segment or product 
  should be dropped
- Perform an analysis to determine if a product line should be 
  purchased or made
- Perform an analysis to determine if a special order should be 
  accepted
- Perform an analysis to determine how to best utilize a 
  constrained resource
- Perform an analysis to determine if a joint product should be 
  sold or processed further
- Assignments 

Reference: Chapter 12

Module 5: Flexible Budgets
- Create a flexible budget
- Determine appropriate measures of activity
- Describe how variable and fixed cost behaviours affect the 
  flexible budget
- Prepare an overhead performance report
- Assignments

Reference: Chapter 9 (pages 369-373)

Module 6: Standard Costs, variance analysis and overhead performance 
reports

- Apply management by exemption
- Set standard costs
- Explain the significance of the denominators in determining 
  standard costs
- Compute direct material variances, direct labour variances, 
  variable overhead variances, fixed overhead variances, and mix and 
  yield variances
- Interpret direct material variances, direct labour 
  variances, fixed overhead variances, and mix and yield variances
- Prepare and interpret and overhead performance report
- Prepare journal entries to record standard cost and variances
- Assignments

Reference: Chapter 10, Appendix 10A and Appendix 10B

Module 7: Reporting for Control (Revenue variances and Cost of 
Quality)

- Calculate and interpret revenue variances
- Identify and analyze c costs of quality
- Assignments

Reference: Chapter 11 (pages 507-514), Appendix 11A