Course Syllabus

JOHN CABOT UNIVERSITY

COURSE CODE: "FIN 202-2"
COURSE NAME: "Managerial Accounting"
SEMESTER & YEAR: Fall Semester 2012

SYLLABUS

INSTRUCTOR: Pulino Silvia
EMAIL: [email protected]
HOURS: TTH 13:30-14:45
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES: Prerequisite: FIN 201
OFFICE HOURS: Wed 10.00-16.00

COURSE DESCRIPTION:

This course is intended to provide an introduction to how accounting fits into the management process and decision making. Cost-volume relations and costs relevant to management are examined. Process costing and job costing are discussed. Master budgets, flexible budgets and responsibility accounting will be covered.

Pre-requisite: FIN 201 Financial Accounting.

SUMMARY OF COURSE CONTENT:
Financial Statements. Financial Statement Analysis. Job Costing. Process Costing. Activity-Based Costing. Profit-Volume-Cost Analysis. The Master Budget. Flexible Budgets. Capital Budgeting.

LEARNING OUTCOMES:

Students having successfully completed the course should be able to:

Prepare and interpret simple financial statements (income statement, balance sheet and statement of cash flows)
Distinguish financial accounting from managerial accounting
Identify trends in the business environment and use cost-benefit analysis to make business decisions
Identify ethical issues in managerial accounting decisions
Distinguish between job costing and process costing and use each method as appropriate to determine cost of goods sold
Use cost-volume-profit analysis to compute breakeven points and to perform sensitivity analyses
Prepare operating and financial budgets and use sensitivity analysis in budgeting
Prepare a flexible budget and use it to show why actual results differ from the static budget
Use activity-based management (ABM) to make business decisions
Appropriately use payback, accounting rate of return and discounted cash flow models to make short- and long-term capital budgeting decisions

TEXTBOOK:

Book Title	Author	Publisher	ISBN number	Library Call Number	Comments	Format	Local Bookstore	Online Purchase
Accounting	Horngren, Harrison, Oliver	Prentice Hall	978-0-13-609342-8, 8th edition

REQUIRED RESERVED READING:

NONE

RECOMMENDED RESERVED READING:

NONE

GRADING POLICY
-ASSESSMENT METHODS:

Assignment	Guidelines	Weight
Class participation		10
Group project		30
Mid-term exam		30
Comprehensive final exam		30

-ASSESSMENT CRITERIA:

A/A-

This work is relatively rare. It is expected to stand out from the work of other students and it:

Directly addresses the question or problem raised

Provides a coherent argument displaying an extensive knowledge of relevant information

Critically evaluates concepts and theory

Relates theory to practice

Reflects the student’s own argument and is not just a repetition of standard lecture and reference material

Is very accurate

Has an element of novelty or originality

Provides evidence of reading beyond the required reading

Displays an awareness of methodological concerns and of the limitations of current knowledge
Is presented professionally

B/B+

This is a highly competent level of performance and:

Directly addresses the question or problem raised

Provides a coherent argument drawing on relevant information

Shows some ability to evaluate concepts and theory and to relate theory to practice

Reflects the student’s own argument and is not just a repetition of standard lecture and reference material

Does not suffer from any major errors or omissions

Provides evidence of reading beyond the required reading

Displays an awareness of other approaches to the problem area

B-/C+
This is an acceptable level of performance and:

Addresses the question but provides only a basic outline of relevant arguments and evidence along the lines offered in the lectures and referenced readings

Answers are clear but limited

Contains some minor omissions and inaccuracies but no major errors

C/C-

This level of performance demonstrates some knowledge and an element of understanding but is weak and:

Points made in the answer are not always well supported by argument and evidence

Relevant points have been omitted from the answer

There are some errors in the answer

Parts of the question remain unanswered

Answers may be unduly brief and possibly in note form
Is not presented professionally

D+/D-
The best that can be said about students in this classification is that they have done just enough to persuade the instructor that they should not be failed and:

Answers lack a coherent grasp of the problems and issues raised in the question

Important information has been omitted from the answers and irrelevant points have been included

Answers are far too brief
Is not presented professionally

Fail (F)

Failed students have been unable to convince the instructor that they have benefited from academic study and the work:

Fails to show any knowledge or understanding of the issues raised in the question

Reveals a fundamental misunderstanding of the subject matter
Most of the material in the answer is irrelevant

Letter grades awarded in this course will normally correspond to the following numerical scores: A (95 % and above); A- (90-94%) B+ (87-89%) B (84-86%) B- (80-83); C+ (77-79%); C (74-76); C- (70-73); D+ (67-69%); D (64-66%); D- (60-63); F (59or less).

-ATTENDANCE REQUIREMENTS:
Attendance is mandatory and part of the class participation grade.

ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic dishonesty will receive a failing grade on the work in which the dishonesty occurred. In addition, acts of academic dishonesty, irrespective of the weight of the assignment, may result in the student receiving a failing grade in the course. Instances of academic dishonesty will be reported to the Dean of Academic Affairs. A student who is reported twice for academic dishonesty is subject to summary dismissal from the University. In such a case, the Academic Council will then make a recommendation to the President, who will make the final decision.

STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap. Students with approved accommodations must inform their professors at the beginning of the term. Please see the website for the complete policy.

SCHEDULE

Class

Topic / Class

Readings and Assignments

Introduction and Review

Course overview

Review of Financial Accounting: Recording Business Transactions, The Adjusting Process, Completing the Accounting Cycle, Merchandising Operations, Merchandise Inventory

Financial Accounting Review

The Balance Sheet: Internal Control and Cash, Short-Term Assets, Long-Term Assets, Liabilities, Owner’s Equity

Review chapters 1 through 12 of the textbook. Review definitions. Be prepared to answer questions.

The Statement of Cash Flows

5-minute student summary

Lecture

Read Chapter 13 “The Statement of Cash Flows” and be ready to summarize the main ideas in class

While you are not expected to study on your own, it greatly helps learning and enhances class discussion if you know in advance what topic you are going to cover and what the main ideas are. Thus, when you read a new chapter in preparation for class discussion, you should focus on the topic, the learning objectives, and how this connects to the previous units and/or to other courses you may have already taken.

Every time we begin a new unit, I will cold call one of you to deliver an oral summary. Students who have manifestly not prepared shall receive an F for the day’s class participation.

The Statement of Cash Flows

In-class exercise

BRING HANDOUT AND CALCULATOR TO CLASS

“Practice problems” Chapter 17

Submit Memo regarding Group composition (see Guidelines posted on MyJCU)

Financial Statement Analysis

5-minute student summary

Lecture

Problems chapter 13 textbook

Read chapter 14 “Financial Statement Analysis” and be prepared to summarize the main ideas in class

Financial Statement Analysis

Lecture

Group Project discussion

“Practice problems” Chapter 18

Prepare HBS Case “General Mills Inc.: Analyzing an Annual Report” for class discussion

- Bring an outline of the paper

- Be prepared for substantive discussion

To access the case go to http://cb.hbsp.harvard.edu/cb/access/10169877

and follow the instructions

General Mills data posted on MyJCU

FINAL PAPER DUE BY MIDTERM

Introduction to Managerial Accounting

5-minute student summary

Lecture

Problems Chapter 14 textbook

Read Chapter 15 “Introduction to Managerial Accounting” and be prepared to summarize the main ideas in class

Job Order and Process Costing

5-minute student summary

Lecture

“Practice problems” Chapter 19

Read Chapter 16 “Job Order and Process Costing” (Job Order part only) and be prepared to summarize the main ideas in class

Job Costing and Process Costing

In-class exercise

“Practice problems” Chapter 20

FIRST DRAFT OF GROUP PAPER DUE

Job Costing and Process Costing

5-minute student summary

Lecture

Problems chapter 16 textbook (job costing only)

Read Chapter 16 “Job Order and Process Costing” (Process Costing part only) and be prepared to summarize the main ideas in class

Job Costing and Process Costing

In-class exercise

“Practice problems” Chapter 21

Mid-term review

Problems Chapter 16 textbook (process costing)

Review all units covered to date, from Introduction to Managerial Accounting to Process Costing included.

MID-TERM EXAM

You may bring your calculator and the formulae sheet provided by the instructor to the exam.

Review:

- Introduction to Managerial Accounting

- Statement of Cash Flows

- Financial Statement Analysis

- Job Costing

- Process Costing

You may bring your calculator and the formulae sheet provided by the instructor to the exam

GROUP PROJECT AND REFLECTION PAPER DUE

Activity-Based Costing and Other Cost Management Tools

5-minute student summary

Lecture

Read Chapter 17 “Activity-Based Costing” and be prepared to summarize the main ideas in class

Activity-Based Costing and Other Cost Management Tools

Lecture

Activity-Based Costing and Other Cost Management Tools

In-class exercise

“Practice problems” Chapter 25

HBS Case Destin Brass

Problems Chapter 17 textbook

Prepare HBS Case Destin Brass (download from http://cb.hbsp.harvard.edu/cb/access/10169877). Answer questions at the end of the case and be prepared to discuss in class.

Cost-Volume-Profit Analysis

5-minute student summary

Lecture

Read Chapter 18 “Cost-Volume-Profit Analysis” and be prepared to summarize the main ideas in class

Cost-Volume-Profit Analysis

In-class exercise

“Practice problems” Chapter 22

COMPUTER LAB

The Master Budget and Responsibility Accounting

5-minute student summary

Lecture

Problems Chapter 18 textbook

Read Chapter 21 “The Master Budget” and be prepared to summarize the main ideas in class

COMPUTER LAB

The Master Budget and Responsibility Accounting

Lecture

COMPUTER LAB

The Master Budget and Responsibility Accounting

In-class exercise

“Practice problems” Chapter 23

MASTER BUDGET – FIRST DRAFT DUE

HBS Case Monterrey Manufacturing Company

Problems Chapter 21 textbook

Flexible Budgets and Standard Costs

5-minute student summary

Lecture

Read Chapter 22 “Flexible Budgets and Standard Costs” and be prepared to summarize the main ideas in class

Flexible Budgets and Standard Costs

Lecture

“Practice problems” Chapter 24

MASTER BUDGET FINAL VERSION DUE

Short-Term Business Decisions

5-minute student summary

Lecture

Problems Chapter 22 textbook

Read Chapter 19 “Special Business Decisions and Capital Budgeting” and be prepared to summarize the main ideas in class

Capital Investment Decisions and Time Value of Money

In-class exercise

Problems Chapter 19 textbook

“Practice problems” Chapter 26

Read Chapter 20 “Capital Investment Decisions and Time Value of Money” and be prepared to summarize the main ideas in class

REVIEW

Problems Chapter 20 textbook

FINAL COMPREHENSIVE EXAM

You may bring your calculator and the formulae sheet provided by the instructor to the exam