Course Lecturer Name(s): Ronald A Peters
Course Lecturer(s) Contact Information: rapeters@sgu.edu, 444-4175x3612
Course Lecturer(s) Office Hours: Monday, Wednesday, Friday 2.30PM to 4.30PM
Course Lecturer(s) Office Location: Winward Hall (Building C)
Course Support: Tracy Fortune, tfortune@sgu.edu, Ext. 3373
Course Management tool: To learn to use Sakai, the Course management tool, access the link https://apps.sgu.edu/members.nsf/mycoursesintro.pdf
Course Description:
This course introduces students to the tools, concepts and techniques used by Accountants to provide information to managers within organizations to enable them to better plan and control the activities of the organization. It will explain the difference between financial accounting and managerial accounting and describe the basic tasks of managers and how they use accounting information in carrying out these tasks. It will discuss the various ways costs can be classified and which costs are relevant to particular decisions. Students learn about changes in the business environment that influence changes to the techniques used in managerial accounting. The course will make reference to various types of organizations to demonstrate how managerial accounting is used and these include: manufacturing, service, profit seeking, non-profit organizations and government.
Course Objectives:
- Explain the differences between managerial accounting and financial accounting
- Discuss the role of managerial accounting within an organization.
- Discuss the importance and challenges of professional ethics to the accountant within organizations
- Introduce various classifications of costs within organizations and demonstrate how the appropriate classification depends on the purpose.
- Describe and illustrate absorption and variable costing methods and prepare reports using these methods.
- Introduce the concept of budgeting, explain the advantages and disadvantages of the budgeting process..
- Introduce the concept of relevant costs and relevant revenues and the appropriate techniques for providing information that is useful to management in various decision-making situations
Student Learning Outcomes:
- Distinguish between managerial accounting and financial accounting
- Calculate sales volume in total dollars and total units to breakeven and to earn a target profit 2. Measure and mathematically express cost behaviour using the account analysis and the high low methods and use the cost functions to predict costs
- Calculate profits using absorption and marginal costing techniques
- Prepare master budgets and supporting schedules
- Prepare flexible budgets for revenue, expenses and income.
- Compute and label cost and revenue variances
- Prepare reports using relevant information to assist management in making various operating and marketing decisions
- Use the standards included in the Institute of Management Accountants statement of ethical professional practice to respond to ethical senarios
Program Outcomes Met By This Course:
ISLO-1: Students will be able to apply ethical skills to lead and manage in their respective business discipline.
ISLO-5: Students will be able to analyze financial and non-financial reports to assist local and global internal managers and external users in making decisions.
SAS Grading Scale: Grades will be assigned as follows:
A = 89.5% or better
B+ = 84.5 - 89.4%
B = 79.5 - 84.4%
C+ = 74.5 - 79.4%
C = 69.5 - 74.4%
D = 64.5 - 69.4%
F = 64.4% or less
Course Materials:
Text: “Introduction to Management Accounting” by Horngren, Sundem and Stratton 15th Edition, Prentice Hall.
Supplementary Readings/Resources: Available on the ACCT 351 Mycourses course management website (Sakai): These include the syllabus, power point slides, and selected solutions to problems.
Course Grading Requirement:
Grades will be earned as follows:
|
1. Class participation |
10% |
|
2. In class quiz |
30% |
|
3. Mid-term exam |
30% |
|
4. Final exam |
30% |
Course Requirements:
- Participation in class discussions.
- Satisfactory completion of all written assignments
- Successful completion of both in class quizzes.
- Successful completion of mid-term examination and final examination.
Course Schedule:
|
Week |
Topic |
Assignments to be prepared for class |
|
1 |
Introduction Course design & Administration Managerial Accounting, the business Organization, and Professional ethics |
Chapter 1 1-A3, 1-B1 & 1-B2, 1-B3 Exercise 1-29, 1-32, 1-34, Problem 1-48 |
|
2 |
Introduction to Cost Behaviour & Cost volume relationships |
Chapter 2 2-A2, 2-A3, 2-B2, 2-B3 Exercise 2-29, 2-32, 2-39 Problem 2-41, 2-50 |
|
3 |
Introduction to Cost Behaviour & Cost volume relationships |
|
|
4 |
Measurement of Cost behaviour |
Chapter 3 3-A1, 3-A2 Exercise 3-32, 3-35, 3-37 Problem 3-46 |
|
5 |
Measurement of Cost behaviour In Class Quiz 1 |
|
|
6 |
Cost Management Systems (Page 140 to top of page 152) |
Chapter 4 Exercise 4-36,4-38, 4-39 Problems 4-51, 4-52, |
|
7 |
Relevant Information & Decision making: Pricing Decisions |
Chapter 5 5-A1 Exercise 5-31, 5-32, 5-33, 5-40 & 543 Problem 5-56(Parts1,2,3) |
|
8 |
MID TERM EXAM |
|
|
9 |
Relevant Information & Decision making: Operational Decisions |
Chapter 6 Exercise 6-32, 6-33, 6-36, 6-37 Problem 6-47 |
|
10 |
Relevant Information & Decision making: Operational Decisions |
|
|
11 |
Introduction to Budgeting & Preparing the Master Budget |
Chapter 7 Exercise 7-30, 7-31, 7-33, 7-35 Problem 7-36 |
|
12 |
Introduction to Budgeting & Preparing the Master Budget In class quiz 2 |
|
|
13 |
Flexible Budgets & Variance Analysis |
Chapter 8 8-B2 Exercise 8-26, 8-30, 832 |
|
14 |
Flexible Budgets & Variance Analysis |
|
|
15 |
Accounting for overhead costs |
Chapter 13 Exercise 13-45 Problem 13-58, 13-59 |
|
16 |
Final Exams |
|
School of Arts and Sciences Master Syllabi — Info for All Sections
Academic Integrity
The St. George’s University Student Manual (2019/2020) states as follows:
“Plagiarism is regarded as a cardinal offense in academia because it constitutes theft of the work of someone else, which is then purported as the original work of the plagiarist. Plagiarism draws into disrepute the credibility of the Institution, its faculty, and students; therefore, it is not tolerated” (p. 48).
Plagiarism also includes the unintentional copying or false accreditation of work, so double check your assignments BEFORE you hand them in.
Be sure to do good, honest work, credit your sources and reference accordingly and adhere to the University’s Honor Code. Plagiarism and cheating will be dealt with very seriously following the university’s policies on Plagiarism as outlined in the Student Manual.
Your work may be subject to submission to plagiarism detection software, submission to this system means that your work automatically becomes part of that database and can be compared with the work of your classmates.
The St. George’s University Student Manual (2019/2020) states as follows:
“Students are expected to attend all classes and or clinical rotations for which they have registered. Although attendance may not be recorded at every academic activity, attendance may be taken randomly. Students’ absence may adversely affect their academic status as specified in the grading policy. If absence from individual classes, examinations, and activities, or from the University itself is anticipated, or occurs spontaneously due to illness or other extenuating circumstances, proper notification procedures must be followed. A particular course may define additional policies regarding specific attendance or participation” (p. 9).
The St. George’s University Student Manual (2019/2020) states as follows:
“All matriculated students are expected to attend all assigned academic activities for each course currently registered. Medical excuses will be based on self-reporting by students. Students who feel they are too sick to take an examination or other required activity on a specific day must submit the online SAS medical excuse, which is available on Carenage. Students are only allowed two such excuses a year. Upon consultation with the Director of University Health Service, the third excuse will result in a mandatory medical leave of absence. The policies regarding make-up examinations are at the option of the Course Director” (p.46).
For additional specific examination policies and procedures, refer to the St. George’s University Student Manual (2019/2020), pages 31 through 37.
The St. George’s University Student Manual (2019/2020) states as follows:
“A student with a disability or disabling condition that affects one or more major life activities, who would like to request an accommodation, must submit a completed application form and supporting documentation to the Student Accessibility and Accommodation Services (SAAS) located in the Dean of Students Office. It is highly recommended that students applying for accommodations do so at least one month before classes begin to allow for a more efficient and timely consideration of the request. If a fully completed application is not submitted in a timely fashion, an eligibility determination may not be made, and accommodations, where applicable, may not be granted prior to the commencement of classes and/or examinations” (p. 8).
It is the responsibility of the student to read and understand the policies, laws, rules and procedures that while they could affect your grade for a course, have not been specifically outlined in the course syllabus. These are contained in the St. George’s University Student Manual.