e-COURSE SYLLABUS
COURSE#: ACC2402.0005 Managerial Accounting
SESSION / YEAR: Spring, 2007
PROFESSOR INFORMATION
Name: Jerry W. Rogers
Phone Number: (903)
675-6339 ext. 339
Faculty Fax# (903) 675-6263
Email Address: JRogers@TVCC.Edu
COURSE INFORMATION:
Course# and Title:
Acc2402.0005 Managerial Accounting
Beginning Date of
Session: Tuesday, January 16, 2007*
Ending Date of Session: Monday, May 8, 2007*
*Official dates according to TVCC Calendar – See
documents specific to this course for specific dates for this course.
Accounting
classes require a lot of work and discipline to stay on task and meet the due
dates with assignments and tests (reviews) whether taken in a regular classroom
environment or via distance education.
If you do not have the personal discipline, or feel that you cannot
learn that discipline in short order, then you should not register for this
course. More people either drop or fail
this course because they don’t have the personal discipline to prepare the
assignments in a timely manner than those who drop or fail because they cannot
do the assignments.
This syllabus
contains links that will be active from this document as
of Tuesday, January 16, 2007.
TEXTBOOK(S) AND REQUIRED
MATERIALS
Title: FINANCIAL AND MANAGERIAL ACCOUNTING
Author: Needles, Powers, and Crosson
Publisher: Houghton Mifflin Company
Year Published: 2005
Edition: Seventh
ISBN: 0618-654054
The above referenced ISBN number
is a special number for a package of materials that have been put together
specifically for this course and contains these items: (1) the textbook FINANCIAL AND MANAGERIAL
ACCOUNTING by Needles, Peters, and Crosson,
Seventh Edition; (2) Windows General Ledger Software on the Student CD-ROM; (3)
HMAccounting Tutor; and (4) Electronic Working Papers
CD-ROM. (The ISBN Number for the
textbook alone is 0-618-39362-5. The
ISBN number for the Electronic Working Papers CD alone is 061840208X. Both are available directly from the publisher.)
Textbooks and required materials for the course may
be purchased by mail, fax, phone, or in person through the bookstore located on
the
The bookstore may be contacted by mail by writing to
the following address:
Attention:
Bookstore
The bookstore may be contacted by fax by using the
following number:
903-675-6316
The bookstore may be contacted by phone by using the
following number:
903-675-6223
If contact is made with the bookstore by email, fax,
or phone, the student must have a credit card number that may be used to
purchase the course required materials.
If a credit card is not available, the student may still contact the
bookstore to determine the price of the course required materials and then
payment may be made by mail.
While students are not prohibited from purchasing
textbooks or course materials from other sources, care should be taken to secure
the exact resources required. Should a
student decide to acquire course materials from sources other than the TVCC
Bookstore, the student should acquire at a minimum the textbook (ISBN #
0-618-39362-5) and the Electronic Working Paper CD (ISBN number 061840208X from
the publisher). The textbook package
through the bookstore contains two additional CD’s, one of which is free with
the textbook if requested, and the other is a tutorial CD which some students
find beneficial.
Failure to
acquire the textbook in time for the submission of the first assignments due is
not an excuse for the assignments being late. Make arrangements early for the
textbook. Fall enrollments in this
course are typically large and the bookstore sometimes runs out of textbooks. No other items from the textbook publisher
such as working papers or study guides are required.
In addition to the referenced textbook, the student
should also have a late version of Microsoft
Office® which contains Microsoft
Word® and Microsoft Excel®. For the assignments requiring a word
processor, a student may use a late version of WordPerfect®. Attachments
from the instructor to the students will be in Microsoft Word® so the student must be certain that his/her version
of WordPerfect® will open and read Word® documents. However, the student must have Microsoft Excel® in order to access
the templates on the Electronic Working Papers CD.
(It is also advisable that the students have a good friend and/or an employer
who has/have computers equipped with these software packages that will be
available to the student in the event the student’s computer should crash.)
COURSE
PREREQUISITES:
Accounting 2401, Financial Accounting, or its equivalent. Oftentimes, the equivalent will referred to as
Principles of Accounting I.
COURSE POLICIES:
Specific assignments with due dates will be provided
electronically when the class begins.
The assignments will be due on or before the identified due date, and
will not be accepted late for credit. The instructor will acknowledge receiving the
assignments. Any submission not
acknowledged within 3 days of sending should be followed up by emailing the
instructor either through the email system for WebCT
or through the regular email system of
The most important thing in any accounting class is EFFICIENT AND EFFECTIVE TIME MANAGEMENT. A student can not expect to wait until a few
hours, or even a day or two, before an assignment is due and then expect to be
able to satisfactorily complete the assignment.
Many years of experience teaching accounting have proven to the
instructor that it can’t be done! You
may be the exception, but don’t bet your grade on it!!!
Incomplete Grades
An “I” (incomplete grade) is given at the discretion
of the professor and may be given only
when an emergency or illness prevents the student from completing course
requirements. It will not be given
because a student fails to complete the requirement for the course during the
semester. Replacement of an “I” by a
grade shall be determined by the rules and policies of the enrolling
institution in the case of Virtual College of Texas students. Some colleges do not allow an “I”, or its
equivalent, to be given, but instead require that a letter grade be awarded.
For students enrolled through
Student’s Responsibilities
This syllabus contains information, policies and
procedures for a specific course. By
enrolling, the student agrees to read, understand and abide by the policies, rules,
regulations, and ethical standards of
COURSE COMPETENCIES:
Upon completion of the course, the student will have
demonstrated a mastery of the objectives given in the textbook for each chapter
covered. These objectives are given at
the beginning of each chapter of study, and then summarized at the end of the
chapter. These objectives are also part
of this syllabus and follow. Mastery of
these objectives shall be demonstrated by successfully completing various
assignments covering these objectives.
The assignments include questions to be answered and submitted to the
instructor; exercises and problems to be worked and submitted to the
instructor; and completion of lengthy reviews over materials designed to test
the student’s mastery of the materials covered by the objectives.
Chapter 1
Learning Objectives
At the
completion of study of Chapter 15, the student will be able to:
…distinguish managerial accounting from financial
accounting and explain the role of management accounting in the management
process.
…describe the value chain and its usefulness in
analyzing a business.
…identify the management tools used for continuous improvement
and describe how they work to meet the demands of global competition and how
management accounting supports them.
…explain the balanced scorecard and its relationship
to performance measures.
…prepare an analysis of nonfinancial
data.
…identify the standards of ethical conduct for
management accountants.
Chapter 16 Learning Objectives
At the completion of study of Chapter 16, the student
will be able to:
…describe how managers use
information about costs in the management cycle.
…explain how managers
classify costs and how they use these cost classifications.
…define and given examples
of three elements of product cost and compute the unit cost of a product.
…describe the flow of costs
through a manufacturer’s inventory accounts.
…compare how service,
retail, and manufacturing organizations report costs on their financial
statements and how they account for inventories.
…define cost allocation and explain how cost objects, cost pools, and cost
drivers are used to assign manufacturing overhead costs.
…calculate product unit cost
using the traditional method of allocating manufacturing overhead costs.
…calculate product unit cost
using activity-based costing to assign manufacturing overhead costs.
…apply cost concepts to a
service organization.
Chapter 17 Learning Objectives
At the completion of study of Chapter 17, the student
will be able to:
…discuss the role
information about costs plays in the management cycle and explain why unit cost
is important.
…distinguish between the two
basic types of product costing systems and identify the information each
provides.
…explain the cost flow in a
manufacturer’s job order costing system.
…prepare a job order cost
card and compute a job order’s product unit cost.
…apply job order costing to
a service organization.
…distinguish between job
order costing and project costing.
Chapter 18 Learning Objectives
At the completion of study of Chapter 18, the student
will be able to:
…discuss the process costing
system, identify the reasons for its use, and discuss its role in the
management cycle.
…relate the patterns of
product flows to the cost flow methods in a process costing environment.
…explain the role of the
Work in Process Inventory accounts in a process costing system.
…define equivalent production and compute equivalent units.
…prepare a process cost
report using the FIFO costing method.
…prepare a process cost
report using the average costing method.
…evaluate operating
performance using information about product costs.
Chapter 19 Learning Objectives
At the completion of study of Chapter 19, the student
will be able to:
…explain the role of
activity-based systems in the management cycle.
…define activity-based management (ABM) and discuss its relationship to the
supply chain and the value chain.
…distinguish between
value-adding and nonvalue-adding activities, and
describe process value analysis.
…define activity-based costing and explain how a cost hierarchy and a bill of
activities are used.
…define a just-in-time (JIT) operating philosophy
and identify the elements of a JIT operating environment.
…identify the changes in
product costing that result when a firm adopts a JIT operating environment.
…define and apply backflush costing, and compare the cost flows in
traditional and backflush costing.
…compare ABM and JIT as
activity-based systems.
Chapter 20 Learning Objectives
At the completion of study of Chapter 20, the student
will be able to:
…define cost behavior and explain how managers use this concept in the
management cycle.
…identify variable, fixed,
and mixed costs, and separate mixed costs into their variable and fixed
components.
…define cost-volume-profit (C-V-P) analysis and discuss how manages use it as
a tool for planning and control.
…define breakeven point and use contribution margin to determine a
company’s breakeven point for multiple products.
…use C-V-P analysis to
project the profitability of products and services.
Chapter 21 Learning Objectives
At the completion of study of Chapter 21, the student
will be able to:
…define budgeting and explain its role in the management cycle.
…identify the elements of a
master budget in different types of organizations and the guidelines for
preparing budgets.
…prepare the operating
budgets that support the financial budgets.
…prepare a budgeted income
statement, a cash budget, and a budgeted balance sheet.
…describe management’s role
in budget implementation.
Chapter 22 Learning Objectives
At the completion of study of Chapter 22, the student
will be able to:
…define standard costs and describe how managers use standard costs in the
management cycle.
…explain how standard costs
are developed and compute a standard unit cost.
…prepare a flexible budget
and describe how variance analysis is used to control costs.
…compute and analyze direct
materials variances.
…compute and analyze direct
labor variances.
…compute and analyze
manufacturing overhead variances.
…explain how variances are
used to evaluate managers’ performance.
Chapter 23 Learning Objectives
At the completion of study of Chapter 23, the student
will be able to:
…describe how the balanced
scorecard aligns performance with organizational goals, and explain the role of
the balanced scorecard in the management cycle.
…discuss performance
measurement, and state the issues that affect management’s ability to measure
performance.
…define responsibility accounting, and describe the role that
responsibility centers play in performance management and evaluation.
…prepare performance reports
for cost centers using flexible budgets and for profit centers using variable
budgets.
…prepare performance reports
for investment centers using traditional measures of return on investment and
residual income and the newer measure of economic value added.
…explain how properly linked
performance incentives and measures add value for all stakeholders in
performance management and evaluation.
Chapter 24 Learning Objectives
At the completion of study of Chapter 24, the student
will be able to:
…explain how managers make
short-fun decisions during the management cycle.
…define incremental analysis and describe how it applies to short-term
analysis.
…perform incremental
analysis for outsourcing decisions.
…perform incremental
analysis for special order decisions.
…perform incremental
analysis for segment profitability decisions.
…perform incremental
analysis for sales mix decisions involving constrained resources.
…perform incremental analysis
for sell or process-further decisions.
Chapter 25 Learning Objectives
At the completion of study of Chapter 25, the student
will be able to:
…identify the objectives and
rules used to establish prices of goods and services, and relate pricing issues
to the management cycle.
…describe economic pricing
concepts including the auction-based pricing method used on the internet.
…use cost-based pricing
methods to develop prices.
…describe target costing and
use that concept to analyze pricing decisions and evaluate a new product
opportunity.
…describe how transfer
pricing is used for transferring goods and services and evaluating performance
within a division or segment.
Chapter 26 Learning Objectives
At the completion of study of Chapter 26, the student
will be able to:
…define capital investment analysis and describe its relation to the
management cycle.
…state the purpose of the
minimum rate of return and identify the methods used to arrive at that rate.
…identify the types of
projected costs and revenues used to valuate alternatives for capital
investment.
…apply the concept of the
time value of money.
…analyze capital investment
proposals using the net present value method.
…analyze capital investment proposals
using the payback period method and the accounting rate-of-return method.
Chapter 27 Learning Objectives
At the completion of study of Chapter 27, the student
will be able to:
…describe a management information
system and explain how it enhances the management cycle.
…define total quality management (TQM) and identify financial and nonfinancial measures of quality.
…use measures of quality to
evaluate operating performance.
…discuss the evolving concept
of quality.
…recognize the awards and
organizations that promote quality.
Chapter 28 Learning Objectives
At the completion of study of Chapter 28, the student
will be able to:
…describe and discuss
financial performance evaluation by internal and external users.
…describe and discuss the
standards for financial performance evaluation.
…identify the sources of
information for financial performance evaluation.
…apply horizontal analysis,
trend analysis, vertical analysis, and ratio analysis to financial statements.
…apply ratio analysis to
financial statements in a comprehensive evaluation of a company’s financial
performance.
How to Drop This Course
To drop this course, the drop process must be begun
in the proper department of the enrolling institution and follow the
instructions supplied by the personnel there.
HOW TO ACCESS YOUR COURSE:
This course shall be available on-line on Tuesday,
January 16, 2007. It may be accessed by
going to: http://courses.tvcc.edu/. A screen will open which asks the student to
log in and asks for the student’s
Please note
this: Access to the course will be on Tuesday,
January 16, 2007. However, this course
will not begin until Monday, January 22, 2007, even though
One thing you should definitely explore this first
week is the process for communicating with the instructor. The instructor will be available this week
and will respond to all emails. Another
thing that should be explored this first week is the publisher’s web site to
learn how to get to the on-line tests and to the other supplemental materials
available from the publisher. The
publisher’s web site may be accessed by going to:
http://college.hmco.com/accounting/needles/fin_man_acc/2005e/students/ace/index.html.
On the “fin_man_acc/”
portion of the URL, note that there are underscores between each of these
abbreviations that do not show up well because of the underling of the URL.
Also, during this first
week, the student should learn how to save and then open the templates that
will be used for working exercises and problems. A document entitled “Saving A Template
Made Easy” is available which illustrates a method of saving the templates
to external storage devices while saving the formatting. The document is accessible from the WebCT Homepage and from the Links
Module.
COURSE OUTLINE
Historically, the first two
courses in accounting (Principles of Accounting I, or its equivalent, and this
course) have been taught as if all students taking the courses were taking them
to become accountants, thus the emphasis was on producing financial and
managerial data. More recently, the
emphasis has shifted from teaching students to be producers of such data to
being users of such data. To be an
effective user, one must know the sources of the data on the various
statements. It is in line with this more recent emphasis that this course is
taught. This course will cover the
basics of report preparation. The course
will also place emphasis on using such information in decision making.
The most important elements
in the successful completion of any accounting course are EFFICIENT AND EFFECTIVE TIME MANAGEMENT.
Accounting takes time. Time must be made
for doing accounting. Then that time
must be efficiently and effectively utilized.
Learning accounting is much
like building a house: a good foundation must first be laid, and then the rest
of the house is built on this foundation.
In building the house, certain things must be done before other
things. After the good foundation is
laid, the studs must be raised before the ceiling joists can be put in
place. The ceiling joists must be in
place before the rafters can be put in place.
The rafters must be in place before the roof decking can be put in
place. And so it goes. The order of completion is important; one
thing builds on another. And so it is
with accounting. A good foundation in
the basic concepts of accounting is important.
You should have gotten that good foundation in your first accounting
course. This course will add to that
foundation.
Concepts are presented in a
predetermined order. It is learning the
concepts at each step, and then building on them at the next step, that gets
the job done in accounting. The work in
accounting can not be postponed until shortly before an assignment is due and
then expect to be completed satisfactorily.
The following paragraphs
should be referred to regularly as the student studies each of the chapters of
the course. These paragraphs contain an
approach that the instructor has found to be effective for other accounting
students in the 20 plus years that the instructor has taught accounting at the
college level.
In doing
accounting, one should first read the chapter objectives. These objectives, located at the beginning of
each chapter, identify to the student what the student should learn from the
chapter. The objectives will be developed in the chapter. At the end of each chapter, these objectives
are summarized. You might look at these
summaries first to get an idea of what the objectives are about, and what you
are expected to learn from the chapter.
After
looking at the objectives, and the summaries of the objectives, the student
should next look to the Study Guide posted by the instructor. Within the Study Guide, the instructor has
summarized the materials from each of the chapters, explaining some of the
materials that often cause trouble for students, and pointing out important
materials.
With the
objectives in mind and knowing what the instructor has had to say about the
chapter, the student should then read the chapter to get an idea as to the
total content and see how all the various materials presented tie together.
This first reading should be to get an overview of the materials from the
chapter. Attention should not be paid to
minute details. At this point, the
student just wants to get an over-view of the materials of the chapter.
After
having read the chapter the first time, the student should go back and read the
chapter a second time. This time, read
more slowly, taking time to reflect on the materials presented. If example problems are presented, the
student should work these problems to see how they apply to what has been read.
As the chapter is being read this second time, the chapter objectives should be
kept in mind. After reading the chapter
for the second time, the student should review the materials presented in the HMAccounting Tutor.
After reviewing the materials in the HMAccounting
Tutor, the student should go to the publisher’s web site and take the ACE test
for the chapter. After this second
chapter reading, review of the HMAccounting Tutor,
and completing the ACE test, the student should be ready to prepare the various
assignments for the chapter.
The following is a listing
of the various units that will be covered in the course, along with the items
that will be due for that unit. Specific
assignments of
questions to be answered and exercises and problems to be completed, and the
calendar due date
of each will be provided the first day of class and will take priority over the
schedule below. All questions and
exercises and problems are from the course textbook. There are no assignments from outside the
textbook.
The choices of questions to
be answered have been made to draw attention to specific concepts the
instructor considers important and/or difficult to understand. The choices of exercises and problems to be
worked have been made to enhance the understanding of the chapter objectives.
It is anticipated that the due dates for all questions will be at 6 P.M.,
1: Chapters 15 & 16 will be covered.
Questions from Chapters 15 & 16 will be
due during the week.
2: Chapters 17 & 18 will be covered.
Questions from Chapters 17 & 18 will be
due during the week.
3: A review covering Chapters 15 – 18 will be
administered during the week.
Completed Exercises and Problems from
Chapters 15 – 18 will be due
during the week.
4: Chapters 19 & 20 will be covered.
Questions from Chapters 19 & 20 will be
due during the week.
5: Chapters 21 & 22 will be covered.
Questions from Chapters 21 & 22 will be
due during the week.
6: Chapters 23 & 24 will be covered.
Questions from Chapters 23 & 24 will be
due during the week.
7: A review covering chapters 19 – 24 will be
administered during the week.
Completed Exercises and Problems from
Chapters 19 – 24 will be due
during the week.
8: Chapters 25 & 26 will be covered.
Questions from Chapters 25 & 26 will be
due during the week.
9: Chapters 27 & 28 will be covered.
Questions from Chapters 27 & 28 will be
due during the week.
10: Prepare for Chapters 25 – 28 Review
11: A review covering Chapters 25 – 28 will be
administered during the week.
Completed Exercises and Problems from
Chapters 25 – 28 will be due
during the week.
FORMAT AND SUBMISSION OF
ASSIGNMENTS
Assignments are to be
submitted as attachments to email.
Specific directions and guidelines for submission of assignments are
located on-line in the “Communications”
section of the e-course.
GRADING CRITERIA
The semester grade awarded
shall be determined using the following point system.
Unit I Review Covering Chapters 1 – 4 ………………. 100 points
Unit II Review Covering Chapters 5 – 10……………… 100 points
Unit III Review Covering Chapters 11 – 14…………… 100 points
Questions Covering Chapters 1 – 14……………… 100 points
Exercises and Problems Covering Chapters 1 – 14... 100 points
Total
Points Possible………………………… 500 points
Total Points Necessary To Receive This Grade
At Least 447.5 …..………………….. A
At Least 397.5, but less than 447.5….. B
At Least 347.5, but less than 397.5….. C
At Least 297.5, but less than 347.5….. D
Less than 297.5…….………….. F
This grade schedule is consistent with the grading
policy of
GRADE NOTIFICATION AND
INSTRUCTOR FEEDBACK
A successful distance
learning experience requires a flow of communication between instructor and
student throughout the session. Instructor comments are considered essential to
the learning process. Each assignment
submitted will be acknowledged by the instructor. They will be reviewed and/or graded and
recorded, and the student will be notified in a timely manner of the
results. Answer keys to the Reviews,
answers to the Questions, and solutions to the Exercises and Problems will be
provided to the student in a timely manner.
The student is expected to review these materials and compare these
answers with the answers that the student has submitted.
Periodic private Updated Status Reports will be sent
to students. These reports will show as
of a specific date all credits that have been accumulated by that student. The Report will show scores made on reviews
and whether the various assignments have been accepted or rejected for credit.
The student will be given 24 hours from the time the Updated Status Report is
sent to challenge any items on the Report.
After 24 hours, the Report will be considered correct, and no items
presented in the given report may be subsequently challenged.
At the completion of the course and before the WebCT program is shut down and grades are sent to the
enrolling institutions, the instructor will send a final Updated Status Report
showing all credits received and the anticipated semester grade for the class.
Each student will be given an opportunity to challenge the data recorded since
the last Updated Status Report, as well as the final grade awarded, and if the
student is successful, the appropriate data shall be changed accordingly. After all students have been given the
opportunity to review his/her Status Report, a final Updated Status Report will
be sent to each student showing the semester grade reported to the appropriate
enrolling institution.
Final grades will be mailed or distributed by the
enrolling institution according to their grade notification policy. Grades of Internet students are mailed
approximately one week after the last day of the session to the student’s
address of record.
ACADEMIC
HONESTY/PLAGIARISM
Plagiarism is the
presentation of someone else’s information as though it were your own. If you use another person’s words, ideas or
information or if you use material from a source – whether a book, magazine,
newspaper, business publication, broadcast, speech, or electronic media – you
must acknowledge the source. Failure to
do so violates
Many accounting textbooks exist, along with hundreds
of other books that may be used as references for accounting. Each of these will cover the same basic
materials. However, they generally will
do so in a manner that is different from the way the class textbook does it. It
is for this reason that the instructor strongly advises against seeking help
outside the class textbook. As the
student progresses in more advanced accounting courses, the student will be
well advised to seek multiple approaches; not so in this class.