Program(s): Accounting
Program Coordinator(s): Brent Koritko
Course Leader or Contact: Multiple Course Leaders
Version: 7.0
Status: Approved (APPR)

Section I Notes: This course is offered in a classroom version and an online version. In the classroom version, there are three hours per week of classroom instruction. The online version is a web-based course offered entirely online through Sheridan College. Students taking this course will need reliable access to the internet, and should have a basic level of comfort using computers as well as the self- discipline to study independently. Students can expect to spend an additional three hours per week for online activities such as postings, discussions, homework and assignments. The final exam for both classroom and online courses will be conducted in class. Students need to come in-person to write the exam at a specified location and will be supervised by the instructor or a proctor. A minimum 'B' grade in both ACCG70020 and ACCG70021 is needed to apply for exemption for Certified General Accountants of Ontario (CGA) MA1 course.

Detailed Description
Students are introduced to the analytical tools used in managerial accounting. Students examine how accounting information is used within an organization in making important financial decisions for planning, controlling costs and evaluating an organization's performance. Students study the fundamental concepts of managerial accounting including how volume affects cost, fixed and variable costs, interpreting and designing graphs and scatter plots, types of budgets and their uses in internal financial planning, job order versus process costing, as well as the ethical standards involved in managerial accounting. Students in the online course engage in online discussions, online assignments, independent readings and assigned exercises and problems. The course consists of writing two online tests at a specified date and time. The final exam will be held in a class setting.

Program Context

 Critical Performance 
By the end of this course, students will have demonstrated the ability
to use internal accounting data for decision making to  plan, control
and evaluate the performance of an organization.
   
Learning Outcomes
To achieve the critical performance, students will have demonstrated
the ability to: 
 
1. Differentiate the roles and functions of managerial and financial
accounting in a business organization.

2. Differentiate the various variable, fixed, direct and indirect cost
classifications used by management accountants.

3. Use analytical techniques of a job-order costing system to allocate
component costs and prepare cost schedules.

4. Use cost-volume-profit sensitivity analysis to explain cost 
behavior.

5. Prepare a master budget to aid in planning, controlling and
evaluating an organization.

6. Explain the advantages, disadvantages and analytical techniques
used to evaluate the different types of responsibility centres.

7. Evaluate transfer pricing decisions between departments.

ONLINE Evaluation
 
Online discussion               5%
Online Assignments (7x1%)       7%
Major Assignment                8%
Test 1**                        20%
Test 2**                        20%
Final Exam Comprehensive*       40%
Total                           100%

*A minimum grade of 50% must be achieved on the final exam in order 
to
receieve credit for this course.  
**For the online delivery, the two tests will be written online at a
specified date and time. *The final exam will be conducted in class.
Students will write the final exam in-person. 

In-class  Evaluation                                                 
           
Online Assignments (8x1.5%)	12%			
Major Assignment	        8%			
Test # 1	                20%			
Test # 2  	                20%			
Final Exam Comprehensive	40%			
Total	                        100%

Managerial Accounting - 10th Canadian edition with Connect, by
Garrison, Chesley, Carroll, Webb & Libby; 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.

Course Details: 
Module 1:(LO #1, 2) Managerial Accounting (Introduction)	
			        
- Describe the functions performed by managers.
- Identify the managers primary responsibility.
- Distinguish between Managerial and Financial accounting.
- Distinguish between service, merchandising, and manufacturing    
  companies.
- Understand the basic concepts of lean production.
- Prepare cost of goods manufactured and cost of goods sold schedules

Text Reference - Chapter 1 and 2

Home assignment # 1 using Connect  
Online 1%, In-class 1.5%
Home assignment # 2 using Connect  
Online 1%, In-class 1.5%		
Online Course Discussion: 1%
	
Module 2: (LO # 2)  Cost Concepts and System Design		
	                   
- Classify costs as variable or fixed. 
- Distinguish between product costs and period costs.
- Compare direct and indirect costs.
- Prepare General Journal entries to record transactions related to a
  job order cost system.
- Calculate a predetermined overhead rate and apply overhead cost to
  work in process. 
 
Text Reference - Chapter 3
	
Home assignment # 3 using Connect	 
Online 1%, In-class 1.5%
Online Discussion: 1%
Test # 1 (20%)- Chapters 1-3				
		
Module 3: (LO #3)  Cost Behaviour and Cost-Volume Relationships	
	  
- Describe how fixed and variable costs behave to explain the basics 
  of cost-volume-profit analysis.
- Prepare income statement for manufacturing companies using the
  contribution format.
- Analyze cost behaviour using scatter graph, high-low and regression
  methods.
- Explain how changes in activity affect contribution margin and
  operating income.
- Find break-even point in unit sales and sales dollars.
- Find target profit and determine a firm's margin of safety and
  operating leverage.

Text Reference - Chapter 6 and 7
Home assignment # 4 using Connect 	
Online 1%, In-class 1.5%
Home assignment # 5 using Connect	
Online 1%, In-class 1.5%	
Online Discussion: 1%

Test #2 - 20%						
					
Module 4: (LO's #4, 6, 7) Variable Costing and Segmented Reporting
     
- Differentiate between variable costing and absorption costing, its
  advantages and disadvantages.
- Prepare income statement using variable and absorption costing.
- Differentiate among responsibility centres such as cost centres,
  profit centres, and investment centres.
- Use performance reports such as a segment report and profitability
  analysis to evaluate cost, revenue, and profit centres.
- Use ROI and RI, to evaluate investment centers.
- Explain the transfer price range to be used between divisions and
  identify an appropriate transfer price range to be used between 
  divisions.

Text Reference - Chapter 8 and 11

Home assignment # 6 using Connect 	
Online 1%, In-class 1.5%	
Home assignment # 7 using Connect	
Online 1%, In-class 1.5%	
Online Discussion: 1%
	
Module 5: (LO #5) Budgeting					
		             
- Explain how and why managers use budgets.
- Prepare a master budget, including operating and financial budgets.
- Prepare cash budget, budgeted income statement, and budgeted balance
  sheet.

Note: Flexible budget excluded

Text Reference - Chapter 9

Home assignment # 8 using Connect (for In-class instruction sections
only) 1.5%

Major Assignment using Connect
Online 8%
In-class 8%

Online Discussion: 1%
Final Exam (40%) - Comprehensive Written in Class          

Retain copy of this course outline during the course and for future
use when applying for credit
at other educational institutions