ACCG70021
Management Accounting 2 |
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I: Administrative Information II: Course Details
III: Topical Outline(s) Printable Version |
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Section I: Administrative Information
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Total hours: 42.0
Credit Value: 3.0
Credit Value Notes: N/A
Effective: Fall 2013
Prerequisites:
(ACCG70020)
Corequisites:
N/A
Equivalents:
N/A
Pre/Co/Equiv Notes: N/A |
Program(s):
Accounting
Program Coordinator(s):
Multiple Coordinators
Course Leader or Contact: Multiple Course Leaders
Version: 5.01
Status: Approved - Under Rev (AREV)
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. For on-line
students the Final Exam will be administered in-person. Note: a
minimum 'B'grade in both ACCG70020 and ACCG70021 is needed to apply
for exemption for the Certified General Accountants of Ontario (CGA)
MA1 course.
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Section II: Course Details
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Detailed Description
Students build on the fundamentals of management accounting covered
in ACCG70020, Management Accounting 1. This course explores the
various forms of costing used to inform management accountants and
their decision making. Topics include process costing, activity-based
costing, service department costing, standard costing, variance
analysis, relevant costing and decision making, flexible budgets and
pricing decisions.
Students use Connect (an online site) to engage in practice exercises
and develop their skills. Assignments are submitted through the use
of Connect. Additionally, students use Slate2 to access course
content, engage in student collaboration and contact the
instructor.
Students in the online course can expect to view online lectures and
lessons, participate in discussions, and submit assignments and tests
using the internet. The Final exam will be administered in-person.
Program Context
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Accounting |
Program Coordinator: Multiple |
This course is offered
through the Faculty of
Continuing & Professional
Studies.
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Course Critical Performance and Learning Outcomes
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Critical Performance:
By the end of this course, students will have demonstrated the ability
to use analytical tools to create accounting reports, plan, control
and evaluate an organization.
Learning Outcomes:
To achieve the critical performance, students will have demonstrated
the ability to:
1. Establish a product's unit cost by appropriately applying direct
material, direct labour and manufacturing overhead.
2. Prepare a formal departmental production report for a process
costing system using the Weighted Average and FIFO methods.
3. Prepare the journal entries to record inventory flow in a process
cost system.
4. Allocate Service Department costs using the Direct, the Step-Down,
and the Reciprocal method.
5. Employ Activity Based Costing (ABC) in management decisions.
6. Evaluate unit product costs under ABC and Traditional Costing.
7. Employ flexible budgets and overhead performance reports for
directing and controlling an organization.
8. Apply cost and revenue variances to improve decision making and
evaluating personnel.
9. Utilize quality to specification to analyze the cost of quality.
10. Utilize non-financial strategies to improve financial performance.
11. Utilize relevant costs to develop models supporting management
decision making.
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Evaluation Plan
Students demonstrate their learning in the following ways:
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In-Class Evaluation:
Group Presentation: 5%
Assignments (CONNECT) 8%
Major Assignment 7%
Test 1 - Module 1 to 5 20%
In-Class (2 hours)
Test 2 - Module 6 & 7 20%
In-Class (2 hours)
Final Exam - Comprehensive 40%
In-Class (3 hours)
Total: 100%
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On-Line Evaluation:
Slate2 Discussion: 5%
A weekly question will be posted requiring two responses
engaging other students. The student may also earn the grade by
discussing course material with other students on Slate2.
Assignments: 8%
Accessed using Connect
Major Assignment: 7%
Posted on Slate2: Content/Module 1/Major Assignment
Test 1 - Module 1 to 5: 20%
Connect (2 hrs)
Test 2 - Module 6 & 7: 20%
Connect (2 hrs)
Final Exam -
Comprehensive In-class: 40%
In-Class* (3 hrs)
* Note Section: Students must achieve a minimum of 50% on the final
exam to earn credit for this Course.
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Provincial Context
The course meets the following Ministry of Training, Colleges and Universities requirements:
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Essential Employability
Skills
Essential Employability Skills emphasized in the course:
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Communication
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Critical Thinking & Problem Solving
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Interpersonal
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Numeracy |
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Information
Management |
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Personal
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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 |
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Notes: N/A
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Section III: Topical Outline
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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: Fall 2013
Professor: Multiple Professors
Textbook(s): Managerial Accounting, Garrison, Chesley, Carroll, Webb & Libby,
9th Canadian Edition, McGraw-Hill Ryerson
Students are required to use Connect for practice exercises and
assignments. The purchase of a new textbook includes Connect as well
as an e-book version of the text. Connect is separately available
from the McGraw-Hill website; thus, the purchase of the textbook is
optional.
http://www.mcgrawhill.ca/highereducation/students/
Applicable student group(s): Faculty of Continuing and Professional Studies students in the online
and in-class course.
Course Details:Module 1: Orientation
- Welcome
- Netiquette
- Instructor Bio
- Slate2 Navigation
- Course Overview
- Course Outline
Module 2: Review of selected topics from Management Accounting 1
- The role of management & Management Accounting
- Income statement (absorption costing) & variable costing
- Income statement & balance sheet relationship
- Review job order costing
Module 3: (LO's #1, 2, 3) Process Costing - Part One
Process Costing - Weighted Average Method
- Compare job order costing and process costing
- Prepare process cost flow journal entries
- Compute equivalent units of production
- Prepare the formal production report
Text Reference - Chapter 4
Assessment(s): Connect Assignment 1%
Module 4: (LO's # 1,2, 3) Process Costing - Part Two
Process Costing - FIFO Method
- Compute equivalent units of production
- Prepare the formal production report
- Compare and contrast the Weighted Average Method and the FIFO Method
Text Reference - Appendix 4A
Assessment(s):
Connect Assignment 1%
Group 1 Presentation 5%
Module 5: (LO #4) Service Department Allocation
Allocate service department costs using a causal allocation base:
- Direct Method
- Step-Down Method
- Reciprocal Method
- Solving the reciprocal method problem using excel
Text Reference - Appendix 4B
Assessment(s):
Connect Assignment 1%
Group 2 Presentation 5%
Test 1
Topics: (Module 1 to 5) 20%
Test Venue: Online students are tested via Connect
In-Class students are tested during the regular scheduled class time
Module 6: (LO's # 5, 6) Decision Making Tools Activity Based Costing
Activity Based Costing (ABC)
- First-Stage Allocations ¿ assign costs to cost pools
- Calculate Activity Rates
- Second-Stage Allocation ¿ Apply costs to Cost Objects
- Compare ABC costing to the traditional costing
Text Reference - Chapter 5
Assessment(s):
Connect Assignment 1%
Group 3 Presentation 5%
Module 7: (LO #7) Standard Costs
- Control through Management by Exception
- Setting Standards
- Understand the significance of denominator activity in determining
standard costs
- Create a Flexible Budget
- Determine appropriate activity measures
- Describe how cost behaviour affects the flexible budget
- Prepare an overhead performance report
Text Reference - Chapter 9 and Chapter 10
Assessment(s):
Connect Assignment 1%
Group 4 Presentation 5%
Test 2
Topics: (Module 6 to 7) 20%
Test Venue
Online students are tested via Connect
In-Class students are tested during the regular scheduled class time
Module 8: (LO's #7,8) Variance Analysis and Overhead Performance
Reports
- Application of the General Model of Variance Analysis
- Employ standard costs to determine direct material variances, direct
labour variances and variable overhead variances
- Calculate and interpret fixed overhead variances
- Prepare an overhead performance report
- Prepare journal entries recording standard costs and variances
Text Reference - Chapter 10 and Appendix 10A and
Appendix 10B
Assessment(s): Connect Assignments 1%
Group 5 Presentation 5%
Module 9: (LO #9) Reporting for Control
- Calculate and interpret revenue variances
- Analyze Cost of Quality
Text Reference - Chapter 11 and Appendix 11A
Assessment(s): Connect Assignment 1%
Group 6 Presentation 5%
Module 10: (LO #10) Strategy
- Balanced Score Card
- Ethics
- KSF
- Corporate Social Responsibility
- JIT
- Non-Financial Performance Measures
Text Reference - Chapter 11 and Chapter 1
Assessment(s): Major Assignment 7%
Group 7 Presentation - 5% of total grade
Module 11: (LO# 11) Relevant Costs for Decision Making
- Describe the various cost concept for decision making
- Segregate relevant and irrelevant costs
- Employ the differential approach to decision making
- Outline the approaches to the following problems
- Dropping a product
- Make of buy decision
- Accepting an order
- Optimizing the utilization of a constrained resource
- Optimizing when there are multiple constrained resources
- Should a joint product be sold or processed further
Text Reference - Chapter 12
Assessment(s): Connect Assignment 1% of total
grade
Group 8 Presentation 5%
Final Exam
Topics: Comprehensive 40% of Final Grade (3 hrs)
On-Line students must write the final exam in person
In-Class students are tested during the regular scheduled class time
Retain this course outline during the course and for future use when
applying for credit
at other educational institutions
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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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