ACCG50253
Introductory Management Accounting
Sheridan
 
  I: Administrative Information   II: Course Details   III: Topical Outline(s)  Printable Version
 

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: Spring/Summer 2023
Prerequisites: N/A
Corequisites: N/A
Equivalents: ACCG22001D
Pre/Co/Equiv Notes: N/A

Program(s): Professional Accounting Grad
Program Coordinator(s): Lorraine Alyea
Course Leader or Contact: Meya Mardini
Version: 20230508_00
Status: Approved (APPR)

Section I Notes: N/A

 
 
Section II: Course Details

Detailed Description
Students examine reports, statements and analytical tools used by management, and the manner in which these are applied in planning, controlling, decision-making and performance evaluation.

Program Context

 
Professional Accounting Grad Program Coordinator(s): Lorraine Alyea
This course is a required course in the Professional Accounting Ontario College Graduate Certificate.


Course Critical Performance and Learning Outcomes

  Critical Performance:
By the end of this course, students will have demonstrated the ability to record complex financial accounting transactions using analytical tools and techniques.
 
Learning Outcomes:

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

  1. Discuss the role of management accounting in achieving an organization's strategic focus.
  2. Apply cost accounting terminology, concepts and procedures used to facilitate planning and decision making.
  3. Analyze a company's cost-volume- profit relationships and the effects of various changes on the company's overall financial position.
  4. Evaluate cost systems for specific industries to determine an appropriate system.
  5. Prepare budgets and develop various measures to analyze financial and non-financial measures used for management control.
  6. Analyze cost behaviour and utilize various techniques to prepare cost estimates.
  7. Use appropriate financial software features to complete financial analyses.

Evaluation Plan
Students demonstrate their learning in the following ways:

 Evaluation Plan: IN-CLASS & ONLINE INSTRUCTION
 Quizzes (Best 10 out of 11 - 10x1%)10.0%
 Assignments (Best 10 out of 11 - 10x2%)20.0%
 Midterm Exam30.0%
 Final Exam Comprehensive40.0%
Total100.0%

Evaluation Notes and Academic Missed Work Procedure:
*Students will be required to complete the mid-term and final exams using Excel (or a similar spreadsheet program) with Respondus Lockdown browser and/or monitor. Late submissions are not permitted. If you anticipate having a problem meeting the due date for an assignment/quiz/discussion post because of medical or other reasons, speak to your professor BEFORE the assessment is due.

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


 

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 & Online Instruction
Professor: Multiple Professors
Resource(s):
 TypeDescription
RequiredTextbookHorngren's Cost Accounting: A Managerial Emphasis, Datar, Rajan, Beaubien, Janz, Pearson Canada, 9th Canadian, 2021
RequiredOtherCPA Handbook assigned sections, available through Sheridan Library access

Applicable student group(s): Professional Accounting Ontario College Graduate Certificate
Course Details:

Module 1 –Foundation of Managerial Accounting

  • Explain the necessity of management accounting data in decision making and the manners in which management accountants support management decisions.
  • Differentiate between corporate governance, professional codes of conduct, ethics, and corporate social responsibility.
  • Distinguish and interpret cost identification, classification, and behaviour when making cost management decisions.
  • Understand management systems and their use within the decision framework.
  • Apply cost information to produce compliant statements.
  • Identify and apply the cost–volume–profit analysis in decision making, and calculate the breakeven point, a target operating profit before interest and tax, and a target net income.
  • Conduct sensitivity analyses that help managers identify and manage risk.
  • Analyze the implications of uncertainty on decision models.
  • Interpret the results of CVP analyses in complex strategic, multi-product, and multiple cost-driver situations.

Learning Outcomes: 1, 2, 3 and 7
Chapters: 1, 2, and 3
Assessments: Quiz #1 (1%), Quiz #2 (1%), Assignment #1 (2%), Assignment #2 (2%)

Module 2 – Costing Systems

  • Describe the building-block concepts of costing systems.
  • Distinguish job costing, process costing and Activity-Based costing and identify their basic elements.
  • Describe the approaches to evaluating and implementing job-costing systems and process-costing systems.
  • Distinguish between actual, budgeted, and normal costing.
  • Analyze the flow of costs from direct and indirect cost pools to inventory accounts.
  • Prepare relates general ledger and journal entries.
  • Identify and explain the problem of over- and under-costing and its prevention.
  • Apply the cost hierarchy to develop an activity-based costing system.
  • Assign costs using activity-based costing.
  • Explain the benefits of activity-based costing systems for activity-based management.

Learning Outcomes: 4 and 7
Chapters: 4, 5, & 18
Assessments: Quiz #3 (1%), Quiz #4 (1%), Quiz #5(1%), Assignment #3 (2%), Assignment #4, (2%), Assignment #5 (2%)

Mid-term Exam: Modules 1 and 2 (30%)

Module 3 – Master Budget and Responsibility Accounting

  • Distinguish the long-term from the short-term benefits of budgets.
  • Prepare a master operating budget and all supporting budgets or schedules.
  • Prepare a cash budget.
  • Contrast responsibility and controllability.
  • Distinguish among sensitivity analysis, Kaizen budgeting, and activity-based budgeting.

Learning Outcomes: 5 and 7
Chapter: 6 and Appendix 6A
Assessments: Quiz #6 (1%), Assignment #6 (2%)

Module 4 – Planning and Control

  • Distinguish between a static budget and a flexible budget.
  • Develop Level 2 flexible budgets and calculate flexible-budget and sales-volume variances.
  • Develop Level 3 rate and efficiency variances for direct manufacturing costs.
  • Undertake variance analysis in activity-based costing systems.
  • Describe how managers use variance analysis.
  • Distinguish among standards, budgets, and benchmarks.
  • Distinguish between Levels 3 and 4 variance analysis for substitutable inputs and calculate Level 4 direct mix and yield variances.
  • Assign manufacturing overhead fixed costs and establish variable overhead cost allocation rates, then calculate and analyze flexible-budget variances.
  • Calculate activity-based cost overhead variances.
  • Integrate the fixed and variable overhead cost variance analyses to reconcile the actual overhead incurred with overhead allocated.
  • Analyze non-manufacturing variances

Learning Outcomes: 5 and 7
Chapters: 7, 8, and Appendices 7A & 7B
Assessments: Quiz #7 (1%), Quiz #8 (1%), Assignment #7 (2%), Assignment #8 (2%)

Module 5 – Variable vs. Absorption costing

  • Identify the factors important to choosing the denominator level used to calculate fixed overhead allocation rates.
  • Explain how the choice of denominator affects capacity management, costing, pricing, and performance evaluation.
  • Distinguish absorption costing from variable costing; prepare and explain the differences in operating income under each costing policy.
  • Distinguish throughput costing from variable costing and absorption costing and explain differences in operating income under each costing policy.
  • Explain breakeven under each of the two costing policies.

Learning Outcomes: 4 and 7
Chapter: 9 and Appendices 9A & 9B
Assessments: Quiz #9 (1%), Assignment #9 (2%)

Module 6 – Analysis of Cost Behaviour

  • Describe linear cost functions and their behaviour.
  • Explain the importance of causality in estimating cost functions.
  • Understand various methods of cost estimation.
  • Outline the steps in estimating a cost function using quantitative analysis.
  • Explain nonlinear cost functions.
  • Describe the impact of time and the quality control and its implications as cost drivers.
  • Understand issues of data collection and quality.
  • Discuss the interpretation of regression models.
  • Describe a learning curve model

Learning Outcomes: 6 and 7
Chapters: 10 and Appendices 10A & 10B
Assessments: Quiz #10 (1%), Assignment #10 (2%)

Module 7 – Data Analytic Thinking and Prediction

  • Explain how management accountants can work with data to create value.
  • Identify the questions management wants to ask and the relevant data.
  • Explain the elements of a decision tree model.
  • Describe how to refine a decision tree model to ensure the data represent the business context.
  • Explain how to validate the predictions of full versus refined decision trees.
  • Evaluate the predictions of different data science models to choose the best one for the business need and visualize and communicate model insights.
  • Describe how to use and deploy data science models.

Learning Outcomes: 7
Chapters: 12
Assessments: Quiz #11 (1%), Assignment #11 (2%)

FINAL EXAM (Cumulative): 40%



Sheridan Policies

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

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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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