Sheridan Course Outlines

ACCG23626
Cost & Managerial Accounting 1A

I: Administrative Information II: Course Details III: Topical Outline(s) Printable Version

Section I: Administrative Information

Total hours: 42.0
Credit Value: 3.0
Credit Value Notes: N/A
Effective: Winter 2016
Prerequisites: (ACCG16971)
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Business Admin Accounting, Business Admin Finance
Program Coordinator(s): Lorraine Cipparrone, Mark Weaver
Course Leader or Contact: Alison Feierabend
Version: 23.0
Status: Approved - Under Rev (AREV)

Section I Notes: This course is taught in a mobile computing environment.

Section II: Course Details

Detailed Description
This course offers an introduction to managerial accounting with a particular emphasis on cost control and the analytical tools used by management to plan for future operations and evaluate past performance.

Program Context

Business Admin Accounting

Program Coordinator: Lorraine Cipparrone

This course is a core component of the second year of the Accounting Program.

Business Admin Finance

Program Coordinator: Mark Weaver

This is a core component of the second year of the Finance Program.

Course Critical Performance and Learning Outcomes

 Critical Performance

By the end of this course, students will have demonstrated the 
ability to use internal accounting data as an aid to plan, control 
and evaluate an organization.   

Learning Outcomes

To achieve the critical performance, students will have demonstrated 
the ability to: 

1. Describe the roles and functions of both managerial and financial
   accounting in a business organization.
2. Classify costs under various categories.
3. Analyze cost behaviours using appropriate methods and techniques.
4. Prepare various forms of income statements and supporting
   schedules.
5. Determine the cost of a product by component in a job-order costing
   system.
6. Analyze cost-volume-profit relationships.
7. Prepare a master budget to aid in planning, controlling and
   evaluating an organization.
8. Calculate appropriate prices to transfer products and services 
   between division.

Evaluation Plan
Students demonstrate their learning in the following ways:

In addition to achieving a minimum 50% overall grade, a student must have 
a combined average of at least 50% on the non-Connect components of the 
evaluation plan in order to receive credit for this course.

Assignments (Connect 20%, Group work 10%)            30%
Mid-term Exam (Modules 1 through 3)                  30%
Final Exam (Comprehensive Modules 1 through 6)       40%
Total                                               100%

*These assignments are either completed online, outside of class time or 
in class. Failure to complete an assignment by the due date will result 
in a zero on that assignment.  No makeups or extensions are available.

Provincial Context
The course meets the following Ministry of Training, Colleges and Universities requirements:

Essential Employability Skills
Essential Employability Skills emphasized in the course:

X	Communication	X	Critical Thinking & Problem Solving		Interpersonal
X	Numeracy	X	Information Management		Personal

Notes: N/A

Prior Learning Assessment and Recognition
PLAR Contact (if course is PLAR-eligible) : Office of the Registrar
Students may apply to receive credit by demonstrating achievement of the course learning outcomes through previous relevant work/life experience, service, self-study and training on the job. This course is eligible for challenge through the following method(s):

Challenge Exam	Portfolio	Interview	Other	Not Eligible for PLAR
X

Notes: N/A

Section III: Topical Outline

Some details of this outline may change as a result of circumstances such as weather cancellations, College and student activities, and class timetabling.
Effective term: Winter 2016
Professor: Multiple Professors
Textbook(s):

Garrison, Chesley, Carroll, Webb & Libby, Managerial Accounting;
(10th Canadian ed.), 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. 

Spraakman, Current Trends & Traditions in Management Accounting Case 
Analysis;(6th ed.), Captus Press

Applicable student group(s): Second Year Business Administration - Accounting, Second Year Business Administration - Finance, Business - Accounting, Business - Finance,
Course Details:

Module 1: Introduction to Managerial Accounting and Cost Terminology

- Compare and contrast managerial and financial accounting
- Describe the planning and control cycle and its relation to  
  decision making
- Introduction to process management concepts
- Classify costs
- Prepare a schedule of cost of goods manufactured and cost of goods
  sold
- Assignments

Reference: Chapters 1 and 2

Module 2: Cost Behaviour: Analysis and Use

- Identify costs by behaviour
- Analyze mixed costs using various methods
- Prepare an income statement using the contribution format
- Assignments

Reference: Chapter 3


Module 3: Cost-Volume-Profit Relationships

- Explain the basics of CVP analysis
- Prepare a break-even analysis for single and multi-product scenarios
- Compute margin of safety
- Compute operating leverage and explain how operating leverage 
  affects an organization
- Assignments

Reference: Chapter 4

Mid-term Exam (30%) - Chapters 1, 2, 3, and 4 (Modules 1, 2, and 

3)

Module 4: Systems Design: Job Order Costing

- Apply direct material, direct labour and manufacturing overhead in  
  a job-order costing system
- Prepare a job order cost card
- Calculate the predetermined overhead rate to be used when applying  
  overhead to a job
- Prepare journal entries to record transactions related to a job 
  order cost system
- Assignments

Reference: Chapter 5

Module 5: Budgeting

- Prepare master budget with particular emphasis on the cash budget
- Assignments

Reference: Chapter 9 

Module 6: Reporting for Control

- Prepare a segment report and profitability analysis to measure  
  managerial performance
- Identify an appropriate transfer price range to be used between  
  divisions
- Assignments

Reference: Chapter 11 and Appendix 11A

Final Exam (40%)- Comprehensive

Sheridan Policies

All Sheridan policies can be viewed on the Sheridan policy website.

Academic Integrity: The principle of academic integrity requires that all work submitted for evaluation and course credit be the original, unassisted work of the student. Cheating or plagiarism including borrowing, copying, purchasing or collaborating on work, except for group projects arranged and approved by the professor, or otherwise submitting work that is not the student's own, violates this principle and will not be tolerated. Students who have any questions regarding whether or not specific circumstances involve a breach of academic integrity are advised to review the Academic Integrity Policy and procedure and/or discuss them with the professor.

Copyright: A majority of the course lectures and materials provided in class and posted in SLATE are protected by copyright. Use of these materials must comply with the Acceptable Use Policy, Use of Copyright Protected Work Policy and Student Code of Conduct. Students may use, copy and share these materials for learning and/or research purposes provided that the use complies with fair dealing or an exception in the Copyright Act. Permission from the rights holder would be necessary otherwise. Please note that it is prohibited to reproduce and/or post a work that is not your own on third-party commercial websites including but not limited to Course Hero or OneNote. It is also prohibited to reproduce and/or post a work that is not your own or your own work with the intent to assist others in cheating on third-party commercial websites including but not limited to Course Hero or OneNote.

Intellectual Property: Sheridan's Intellectual Property Policy generally applies such that students own their own work. Please be advised that students working with external research and/or industry collaborators may be asked to sign agreements that waive or modify their IP rights. Please refer to Sheridan's IP Policy and Procedure.

Respectful Behaviour: Sheridan is committed to provide a learning environment that supports academic achievement by respecting the dignity, self-esteem and fair treatment of every person engaged in the learning process. Behaviour which is inconsistent with this principle will not be tolerated. Details of Sheridan's policy on Harassment and Discrimination, Academic Integrity and other academic policies are available on the Sheridan policy website.

Accessible Learning: Accessible Learning coordinates academic accommodations for students with disabilities. For more information or to register, please see the Accessible Learning website (Statement added September 2016)

Course Outline Changes: The information contained in this Course Outline including but not limited to faculty and program information and course description is subject to change without notice. Any changes to course curriculum and/or assessment shall adhere to approved Sheridan protocol. Nothing in this Course Outline should be viewed as a representation, offer and/or warranty. Students are responsible for reading the Important Notice and Disclaimer which applies to Programs and Courses.

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