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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 |
Course
Name (short): App. Accounting for Business
School: Continuing Ed & Corp Training
Program(s):
Accounting Practitioner
Program Coordinator(s):
Multiple Coordinators
Course Leader or Contact: Multiple Course Leaders
Originator: Ravneet Malhi
Designate: Ravneet Malhi
Version: 1.0
Status: Approved (APPR)
Calendar Description
N/A
Typical Instructional Format
Lecture
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42.0 |
Total hours: |
42.0 |
Courses may be offered in other formats.
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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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: Multiple PLA Contacts
Students may apply to receive credit by demonstrating achievement
of the course learning outcomes through previous life and work experiences.
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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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
Academic Honesty
The principle of academic honesty 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 faculty member, or otherwise submitting work that is not
the student's own violates this principle and will not be tolerated. Instances of academic dishonesty, including
assisting another student to cheat, will be penalized as detailed in the Student Handbook.
Students who have any questions regarding whether or not specific circumstances involve a breach of academic
honesty are advised to discuss them with the faculty member prior to submitting the assignment in question.
Discrimination and Harassment
Sheridan is committed to provide a learning environment that respects 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 are available in the Student Handbook.
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