Sheridan Course Outlines

Land Acknowledgement

Sheridan College resides on land that has been, and still is, the traditional territory of several Indigenous nations, including the Anishinaabe, the Haudenosaunee Confederacy, the Wendat, and the Mississaugas of the Credit First Nation. We recognize this territory is covered by the Dish with One Spoon treaty and the Two Row Wampum treaty, which emphasize the importance of joint stewardship, peace, and respectful relationships.

As an institution of higher learning Sheridan embraces the critical role that education must play in facilitating real transformational change. We continue our collective efforts to recognize Canada's colonial history and to take steps to meaningful Truth and Reconciliation.

Section I: Administrative Information

Total hours: 42.0
Credit Value: 3.0
Credit Value Notes: N/A
Effective: Winter 2020
Prerequisites: ACCG23626
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Business Accounting, Business Admin. Accounting
Program Coordinator(s): Orlando Brown
Course Leader or Contact: Alison Feierabend
Version: 20200106_00
Status: Approved (APPR)

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

Section II: Course Details

Detailed Description
This course is a continuation of managerial accounting with an emphasis on cost control and analysis of internal accounting data to plan for future operations and to evaluate past performance.

Program Context

Business Accounting	Program Coordinator(s): Orlando Brown
This course is a core component of the second year of the Business Accounting Program.
Business Admin. Accounting	Program Coordinator(s): Orlando Brown
This course is a core component of the second year of the Business Administration Accounting Program.

Course Critical Performance and Learning Outcomes

	Critical Performance:
	By the end of this course, students will have demonstrated the ability to use managerial accounting reports and analytical tools to plan, control and evaluate an organization.

Learning Outcomes:

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

Develop a product's cost by determining the amount of direct material, direct labour and manufacturing overhead to apply to a unit of product.
Prepare a formal departmental production report applying appropriate costing techniques in a process costing system.
Prepare the journal entries required to record inventory flow in a process cost system.
Use activity based costing as a tool to aid decision making.
Compare product cost per unit under the traditional vs. activity based costing approach.
Allocate service department costs using either the step or direct method.
Prepare and interpret various forms of income statements.
Use cost variances as a tool for improved decision making and evaluation of key personnel.
Create a flexible budget and develop an overhead performance report for use in directing and controlling a corporation.
Identify relevant costs and develop decision making models that can be used to support recommendations made to the management team to improve overall profitability of a company.

Evaluation Plan
Students demonstrate their learning in the following ways:

Evaluation Plan: IN-CLASS

	Online Pre-work (Best 5 of 7 @ 0.5% each)	2.5%
	Online Homework (Best 5 of 7 @ 1.5% each)	7.5%
	Group Presentation (1 @ 10%)	10.0%
	In-class Quizzes using Respondus Lockdown Browser (best 5 of 7 @ 3% each)	15.0%
	Mid-term Exam (Modules 1 - 3)	30.0%
	Final Exam (Comprehensive Modules 1 -7)	35.0%
	Total	100.0%

Evaluation Notes and Academic Missed Work Procedure:

*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. For each group assignment, all parts must be attempted or a mark of zero will be given for the entire assignment. In addition to achieving a minimum 50% overall grade, a student must have a combined average of at least 50% on the in-class quizzes, mid-term and final exam in order to receive credit for this course.

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

Essential Employability Skills
Essential Employability Skills emphasized in the course:

Communication Skills - Communicate clearly, concisely and correctly in the written, spoken, visual form that fulfills the purpose and meets the needs of the audience.
Numeracy - Execute mathematical operations accurately.
Critical Thinking & Problem Solving Skills - Use a variety of thinking skills to anticipate and solve problems.
Critical Thinking & Problem Solving - Apply a systematic approach to solve problems.
Information Management Skills - Analyze, evaluate, and apply relevant information from a variety of sources.
Information Management - Locate, select, organize and document information using appropriate technology and information systems.
Interpersonal Skills - Show respect for the diverse opinions, values, belief systems, and contributions of others.
Interpersonal Skills - Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals.
Personal Skills - Manage the use of time and other resources to complete projects.
Personal Skills - Take responsibility for one's own actions, decisions, and consequences.

Prior Learning Assessment and Recognition
PLAR Contact (if course is PLAR-eligible) - Office of the Registrar

Not Eligible for PLAR

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.
Instruction Mode: In-Class
Professor: Multiple Professors
Resource(s):

	Type	Description
Required	Textbook	Managerial Accounting, Garrison, Chesley, Carroll, Webb & Libby, McGraw-Hill & Ryerson, 11th Canadian ed., 2018
Required	Other	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.

Applicable student group(s): Business Administration - Accounting
Course Details:

Module 1: Systems Design - Process Costing

- Compare and contrast job order costing and process costing
- Prepare process cost flow journal entries
- Compute equivalent units of production using either the
weighted average
- Prepare production cost report using either the weighted average method
- Assignments

Learning Outcomes: 1, 2, 3
Reference: Chapter 6
Evaluations: Pre-work: 1@0.5%, Homework: 1@1.5%, In-class quiz: 1@3%

Module 2: Activity Based Costing

- Assign costs to cost pools using a first-stage allocation
- Assign costs using a second-stage allocations
- Calculate product and customer margins
- Compare product cost per unit using traditional and activity-
based costing methods

Learning Outcomes: 1, 4, 5
Reference: Chapter 7, Appendix 7A
Evaluations: Pre-work: 1@0.5%, Homework: 1@1.5%, In-class quiz: 1@3%

Module 3: Variable Costing - A Tool for Management

-Prepare an income statement using variable costing
-Prepare an income statement using absorption costing
-Prepare a reconciliation to explain the difference in income under
variable vs. absorption costing
-Assignments

Learning Outcomes: 1, 7
Reference: Chapter 8
Evaluations: Pre-work: 1@0.5%, Homework: 1@1.5%, In-class quiz: 1@3%

Mid-term Exam (30%) - Chapter 6, Chapter 7,
Appendix 7A and Chapter 8 (Modules 1, 2, & 3)

Module 4: Flexible Budgets

- Create a flexible budget
- Determine appropriate measures of activity
- Describe how variable and fixed cost behaviours affect the
flexible budget
- Prepare an overhead performance report
- Assignments

Learning Outcomes: 7, 8, 9
Reference: Chapter 9 (pages 363-367)
Evaluations: Pre-work: 1@0.5%, Homework: 1@1.5%, In-class quiz: 1@3%

Module 5: Standard Costs, variance analysis and overhead performance
reports

- Apply management by exemption
- Set standard costs
- Explain the significance of the denominators in determining
standard costs
- Compute direct material variances, direct labour variances,
variable overhead variances and fixed overhead variances
- Interpret direct material variances, direct labour
variances and fixed overhead variances
- Prepare and interpret and overhead performance report
- Prepare journal entries to record standard cost and variances
- Assignments

Learning Outcomes: 7, 8, 9
Reference: Chapter 10 and Appendix 10B
Evaluations: Pre-work: 1@0.5%, Homework: 1@1.5%, In-class quiz: 1@3%

Module 6: Service Department Allocations

- Allocate service department costs using various methods
- Assignments

Learning Outcomes: 6
Reference: Appendix 11A
Evaluations: Pre-work: 1@0.5%, Homework: 1@1.5%, In-class quiz: 1@3%

Module 7: Relevant Costs for Decision Making

- Describe how various cost concepts are used in decision making
- Identify costs as relevant or not relevant to decisions
- Using the differential approach to decision making
- Perform an analysis to determine if a segment or product
should be dropped
- Perform an analysis to determine if a product line should be
purchased or made
- Perform an analysis to determine if a special order should be
accepted
- Perform an analysis to determine how to best utilize a
constrained resource
- Perform an analysis to determine if a joint product should be
sold or processed further
- Assignments

Learning Outcomes: 1, 10
Reference: Chapter 12
Evaluations: Pre-work: 1@0.5%, Homework: 1@1.5%, In-class quiz: 1@3%

Final Exam (35%) - Comprehensive

Sheridan Policies

It is recommended that students read the following policies in relation to course outlines:

Academic Integrity
Copyright
Intellectual Property
Respectful Behaviour
Accessible Learning

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

Appropriate use of generative Artificial Intelligence tools: In alignment with Sheridan's Academic Integrity Policy, students should consult with their professors and/or refer to evaluation instructions regarding the appropriate use, or prohibition, of generative Artificial Intelligence (AI) tools for coursework. Turnitin AI detection software may be used by faculty members to screen assignment submissions or exams for unauthorized use of artificial intelligence.

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. 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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