SYLLABUS FOR COST ACCOUNTING I

 

 

Term:  Fall, 2004-2005  (041) August 30 – December 11, 2004

Course Number:  ACC 330 X        

Instructor:  Mr. Kenneth Taylor, CPA

Office:  Room 518

Office Phone:  (219) 473-4294

E-mail:  kentcpa@surfnetinc.com

Home Phone:  (219) 865-1516  after 6pm

Office Hours:  Tuesday 6:00pm – 7:00pm and 10:00pm – 10:30pm

                          Wednesday 6:00pm – 7:00pm and 10:00pm – 10:30pm

                          Other hours by appointment

 

Instructor Background:  Certified Public Accountant licensed in Indiana and Illinois. Partner in public accounting firm. BS in accounting from Purdue University Calumet.

 

Course Time:  Wednesday 7:00pm – 10:00pm

 

Course Description:

This course consists of a discussion of cost accounting concepts and objectives, an in-depth study of cost accounting systems and accumulation procedures and a search into the elements of material, labor and factory overhead costs.

 

Prerequisites:

ACC 210, 211

 

Learning Outcomes/Student Competencies:

Upon completion of this course the students will be able to:

           

1.       Understand how cost accounting is used for decision-making and performance evaluation in organizations.

2.       Explain the basic concept of cost.

3.       Explain how costs are presented in financial statements.

4.       Understand how materials, labor and overhead costs are added to a product at each stage of the productive cycle.

5.       Explain the basic cost flow model.

6.       Assign costs in a job cost system.

7.       Account for overhead using predetermined rates and activity-based costing.

8.       Understand how cost-volume-profit are related and use CVP analysis as a planning and decision making aid.

9.       Prepare a budget for an organization.

10.   Use budgets for performance evaluation and develop and use flexible budgets.

11.   Compute and use variable cost variances and fixed cost variances.

12.   Understand inventory costing and capacity analysis.

13.   Use cost information for managerial decision-making.

 

Textbooks: Cost Accounting, A Managerial Emphasis, eleventh edition, Horngren, Datar, Foster

                   

Learning Strategies:  Lecture, Class Discussion

Assessment:

Exams (3 exams)                                                                                  60 % of grade

Homework                                                                                                   30 % of grade       

Class participation/collaboration/attendance/assignments             10 % of grade

 

Class Policy For Assignments:

All problems must be turned in at the end of the class period for which they are assigned. Late class assignments will not be accepted without approval prior to the due date. Excessive missed assignments could reduce grade one level.

 

Grading Scale:

A:  93          A-:  90        B+:  88         B:  83            B-:  80             C+:  78

C:  73          C-: 70        D+:  68         D:  63            D-:  60             F:    Below 60

 

Class Policy on Attendance:

Attendance at all class sessions is important. Advance notice should be given of any anticipated absence. Your absence from six class sessions will reduce your grade one level.

 

Center for Academic Excellence:

Tutoring assistance is free to all students of Calumet College of St. Joseph. Call the Center for Academic Excellence (CAE), to make an appointment at 473-4287. The center has experienced and well-trained tutors in most subjects areas to help students who are struggling in a course or who are doing well and would like to do better. Regular weekly tutoring sessions are likely to improve your grade.

 

Statement of Plagiarism:

If an instructor or other Calumet College of St. Joseph personnel find that a student has plagiarized or been involved in another form of academic dishonesty, the instructor or other personnel may elect to bring the matter up for judicial review. The maximum penalty for any form of academic dishonesty is dismissal from the College. The procedures for judicial review are listed under the section of CCSJ handbook that addresses student grievances

 

Please Note: Calumet College of St. Joseph subscribes to Turnitin.com and all papers can and may be submitted for checks on plagiarism from the internet/electronic sources/databases.

 

Citation Guidelines:

Calumet College of St. Joseph adheres to the citation guidelines as prescribed by the particular discipline (i.e., MLA, APA, and Chicago Manual of Style or Turabian). All of these guidelines are available in the Calumet College of St. Joseph library or bookstore. These texts outline how to cite references from a variety of sources, including electronic media.

 

Withdrawal from Classes Policy:

After the last day for class changes has passed (see College calendar), students may withdraw from a course in which they are registered with permission from the faculty member conducting the course. A written request detailing the reason(s) for the withdrawal must be filed with the Registrar. Written request for withdrawal must be received by the Registrar by the last day of classes prior to the final examination dates specified in the catalogue. Written requests may be mailed to the Registrar or faxed to the College fax number 219-473-4259. Students are to make note of the refund schedule when withdrawing from courses. The request is forwarded to the faculty member, who makes the final determination to accept or deny the request.

If the request is honored, the student will receive notification of official withdrawal; if denied, the notification will indicate why the withdrawal is disallowed.

 

An official withdrawal is recorded as a "W" grade on the student's transcript. Dropping a

course without written permission automatically incurs an "F" grade for the course (see

Refund Schedule).

 

School Closing Information:

                Facility: Calumet College of St. Joseph

                             Phone: (219) 473-4770

                Internet: http://www.ccsj.edu

                                http://www.EmergencyClosings.com

                Radio: WAKE – 1500 AM

                           WGN – 720 AM

                           WIJE – 105.5 FM

                           WLS – 890 AM

                           WZVN – 107.1 FM

                           WBBM NEWS RADIO 78    

 

Class Assignments

 

Class Date                                                                  Topic-Assignment

 

September 1                                                      Introduction to Course Outline.

                                                                        Read Chapter 1 – The Accountant’s Role in the Organization

                                                                        Homework Ch 1 – 1-16 thru 1-28 even

 

September 8                                                      Read Chapter 2 – An Introduction to Cost Terms and Purposes

Homework Ch 2 – 2-16 thru 2-36 even

 

September 15                                                    Read Continue Chapter 3 – Cost-Volume–Profit Analysis

Homework Ch 3 – 3-16 thru 3-32 even

 

September 22                                                    Read Chapter 4 – Job Costing

                                                                        Homework Ch 4 – 4-16 thru 4-28 even

                                                                       

September 29                                                    Read Chapter 5 – Activity-Based Costing and Activity-Based Management

                                                                        Homework Ch 5 – 5-16 thru 5-28 even

                                                                        Assign EXAM 1 – Chapters 1 to 4   

                                                                       

October 6                                                         Read Chapter 6 – Master Budget and Responsibility Accounting

                                                                        Homework Ch 6 – 6-16 thru 6-26 even

                                                                        EXAM 1 Due

                                                                                   

October 13                                                             Read Chapter 7 – Flexible Budgets, Variances, and Management Control: I

Homework Ch 7 – 7-16 thru 7-30 even

Class Assignments (continued)

 

October 20                                                        Read Chapter 8 – Flexible Budgets, Variances, and Management Control: II

                                                                        Homework Ch 8 – 8-16 thru 8-28 even

                                                                       

October 27                                                        Read Chapter 9 – Inventory Costing and Capacity Analysis

                                                                        Homework Ch 9 – 9-16 thru 9-28 even

                                                                        Assign EXAM 2 – Chapters 5 to 8

 

November 3                                                      Read Chapter 10 – Determining How Costs Behave

                                                                        Homework Ch 10 – 10-16 thru 10-28 even

                                                                        EXAM 2 Due

                                                                              

November 10                                                    Read Chapter 11 – Decision Making and Relevant Information

                                                                        Homework Ch 11 – 11-16 thru 11-28 even

                                                                       

November 17                                                    Read Chapter 12 – Pricing Decisions and Cost Management

                                                                        Homework Ch 12 – 12-16 thru 12-26 even

                                                                       

November 24                                                                         Read Chapter 13 – Strategy, Balanced Scorecard, and Strategic Profitability Analysis

                                                                        Homework Ch 13 – 13-16 thru 13-26 even

                                                                       

December 1                                                      Read Chapter 14 – Cost Allocation, Customer- Profitability Analysis, and Sales-Variance Analysis

                                                                        Homework Ch 14 – 14-16 thru 14-24 even

                                                                        Assign EXAM 3 – Chapters 9 to 14

                                                                       

December 8                                                      EXAM 3 Due