ACCG70030
App. Accounting for Business |
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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: Spring/Summer 2015
Prerequisites:
(ACCG70028) AND (ACCG70029)
Corequisites:
N/A
Equivalents:
ACCG70020
Pre/Co/Equiv Notes: N/A |
Program(s):
Accounting Practitioner
Program Coordinator(s):
Multiple Coordinators
Course Leader or Contact: Multiple Course Leaders
Version: 1.0
Status: Approved (APPR)
Section I Notes:
This course is offered in a blended format that includes online and in
class/virtual meeting components. The total instruction time will be
42 hours. The online portions of the course are web-based and offered
entirely online through Sheridan College's SLATE learning management
system . Students taking this course will need a laptop computer,
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, reading,
homework and assignments Students must come in-person to write the
final exam at a specified exam location and will be supervised by the
instructor or a proctor.
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Section II: Course Details
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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 a quiz, assignments, in-class midterm exam and an in-class
final exam.
Program Context
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Accounting Practitioner |
Program Coordinator: Multiple |
N/A
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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 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 centers.
7. Evaluate transfer pricing decisions between departments.
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Evaluation Plan
Students demonstrate their learning in the following ways:
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Quiz: 15%
Assignments:(10 X 2%) 20%
Midterm exam: 25%
Final Exam Comprehensive* 40%
Total 100%
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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: Spring/Summer 2015
Professor: Multiple Professors
Textbook(s): Resources: Online texts, reading and references , articles, applied
assignments and navigation of enterprise resource planning software to
complete activities that support the learning outcomes and critical
performance requirements of the course and overall program objectives.
Applicable student group(s): Faculty of Continuing and Professional Studies Online and In-Class
students.
Course Details:Module 1: (LO #1, 2) Managerial Accounting (Introduction)
- Describe the functions performed by managers.
- Identify the manager¿s 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
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.
Module 3: (LO #3) Cost Behavior 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 behavior 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.
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 centers such as cost centers,
profit centers, and investment centers.
- Use performance reports such as a segment report and profitability
analysis to evaluate cost, revenue, and profit centers.
- 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.
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.
Retain copy of 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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