Session 2015-2 Spring
Dawson Hall D 103
Monday’s 6-10pm
Dates: 3/9/15-5/03/15
Frank Kircher, CPA, fkircher@ben.edu
Office: 217.546.4446
Home: 217.624.4691
Appt: Upon Request
PRE-ASSIGNMENT- See last page of syllabus for assignment
ACCT 112 – 70 Accounting II
I.
Course Description
Principles of managerial accounting; including cost accounting, planning and control
systems, and analysis and interpretation of financial statements.
II.
Textbook and Materials
Accounting. Warren, Reeve, Fess, 24th Edition, 2012. ISBN 978-0-538-47500-6
or 0-538-47500-5 Cengage
III.
Mission Statement
Benedictine University is dedicated to the education of undergraduate and graduate
students from diverse ethnic, racial and religious backgrounds. As an academic
community committed to liberal arts and professional education distinguished and guided
by our Roman Catholic tradition and Benedictine heritage, we prepare our students for a
lifetime as active, informed and responsible citizens and leaders in the world community.
IV.
Goals, Objectives, and Student Learning Outcomes
A. Goals
1. Evaluate the role of economics and business in the social environment
of our culture
2. Articulate how the functional areas of business interrelate within
organizations;
3. Improve skills in communication, analytical thinking and appreciating
the human element in organizations; and
4. Develop specific skills applicable to the various aspects of the
functional areas of business.
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B. Course Objectives
Upon completion of the course, students will be able to demonstrate their mastery
of the following learning outcomes
1. To recognize cost behavior by using managerial accounting concepts
and principals
2. To perform cost-volume-profit analysis in decision making.
3. To assign costs to cost objects using job and activity-based costing
systems.
4. To use relevant information to make decisions.
5. To prepare budgets according to managerial accounting principles.
V.
Teaching Methods/Delivery System
Class will consist of informal discussions and problem solving activities.
VI.
Course Requirements
Attendance Policy:
Class attendance is mandatory. This course is a highly accelerated course which will
meet only once a week for eight weeks. Therefore, students will need to take a great deal
of responsibility for their own learning outcomes. In the case of illness or an emergency,
please notify the instructor before the class meets. Class attendance will directly impact
your final grade!
This course is highly accelerated, and students will need to take a great deal of
responsibility for their own learning outcomes. Attendance is required in each class
meeting for the full period of time. Any absence must be due to extraordinary
circumstances and will require documentation for it to be considered excused.
Documentation must be provided immediately in order to determine what, if any,
accommodations are reasonable or possible. Class attendance will directly impact your
final grade, and each undocumented absence will be considered unexcused and will result
in a 20% reduction in the final grade for the course.
Due to the accelerated nature of the course, should you experience a
medical condition which prevents you from attending any class(es),
appropriate medical documentation must be provided immediately in
order to determine what, if any, accommodations are reasonable or possible
Benedictine University at Springfield Student Academic Honesty Policy
The search for truth and the dissemination of knowledge are the central missions of a
university. Benedictine University at Springfield pursues these missions in an
environment guided by our Roman Catholic tradition and our Benedictine heritage.
Integrity and honesty are therefore expected of all University students. Actions such as
cheating, plagiarism, collusion, fabrication, forgery, falsification, destruction, multiple
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submission, solicitation, and misrepresentation are violations of these expectations and
constitute unacceptable behavior in the University community.
Student’s Responsibility
Though there is no formal honor code at Benedictine University at Springfield, students
are expected to exhibit academic honesty at all times. Violations against academic
honesty are always serious and may result in sanctions that could have profound longterm effects. The final responsibility for understanding the Academic Honesty Policy of
the institution, as well as the specific policies for individual courses normally found in
syllabi, rests with students. If any doubt exists about what constitutes academic
dishonesty, students have the responsibility to talk to the faculty member. Students
should expect the members of their class to be academically honest. If students believe
one or more members of the class have been deceitful to gain academic advantage in the
class, students should feel comfortable to approach the faculty member of the course
without prejudice.
Violations of the Academic Honesty Policy will be reported to the Office of the Dean of
Academic Affairs. Along with a verbal warning, the following are consequences a
student may face for academic dishonesty:
 a failing grade or “zero” for the assignment;
 dismissal from and a failing grade for the course; or
 dismissal from the Institution.
VII.
Means of Evaluation
Your grade will be determined by the total points accumulated throughout the course.
Points will be assigned as follows:
Exams (3)
Class Discussion , Homework,
Homework
Total Points Possible
Grades will be assigned as follows:
300
100
400
360 points – 400 points = A
320 points – 359 points = B
280 points – 319 points = C
240 points – 279 points = D
Less than 239 points
=F
Exams:
Exams consist of two parts (1) take-home and (2) in-class. The take-home exams will
consist of problems and written exercises. The in-class portion of the exams usually
consists of conceptual multiple choice and short answer questions. If a student has an
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acceptable reason (illness or emergency) for missing class the night an exam is handed
out, the student is responsible for contacting the instructor and picking up the exam.
Quizzes & In-Class Exercises:
Quizzes may be both announced and unannounced. Missed quizzes may not be madeup!
Homework:
Homework assignments are due at the beginning of the class period. Homework
problems will be assigned in class. At times students may be asked to present the
solutions before the class.
If a student believes that an error has been made in reporting a grade, an appeal must be
made in writing to the instructor and must be initiated 60 calendar days after the end of
the term for which the grade in question was recorded. The appeal should contain
specific information on why it is believed the grade reported is inaccurate. See the
Student Handbook for details.
Add/Drop Dates
Please refer to the current Academic Calendar for add/drop dates
Incomplete Request
To qualify for an “I” grade, a minimum of 75% of the course work must be completed
with a passing grade and a student must submit a completed Request for an Incomplete
form to the Registrar’s Office. The form must be completed by both student and
instructor, but it is the student’s responsibility (not the instructor’s) to initiate this process
and obtain the necessary signatures.
Student Withdrawal Procedure
It is the student’s responsibility to officially withdraw from a course by completing the
appropriate form, with appropriate signatures, and returning the completed form to the
Advising Office. Please refer to the Student Handbook for important financial
information related to withdrawals.
VIII. Topical Course Outline
See attached schedule.
IX.
Americans with Disabilities Act (ADA)
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Benedictine University at Springfield provides individuals with disabilities reasonable
accommodations to participate in educational programs, activities, and services. Students
with disabilities requiring accommodations to participate in campus-sponsored programs,
activities, and services, or to meet course requirements, should contact the Resource
Center as early as possible: springaccess@ben.edu or 217-717-9253.
X.
Assessment
Goals, objectives, and learning outcomes that will be assessed in the class are stated in
this syllabus in Sections IV and VI. Instructor will use background knowledge probes,
one-minute papers, reflective essays and/or other Classroom Assessment Techniques as
deemed necessary in order to provide continuous improvement of instruction.
Tentative Class Schedule
DATE
First Class Period
CHAPTER
18
TOPIC
Introduction to Managerial Accounting
A. Differences between
Financial/Managerial
Accounting
B. Manufacturing Costs
1. Product Costs
a. Direct Materials
b. Direct Labor
c. Factory Overhead
2. Period Costs
Dates will be announced in
Class
20
Cost Behavior and Cost-Volume-Profit Analysis
A. Cost Behavior
1. Variable Costs
2. Fixed Costs
3. Mixed Costs
B. Summary of Cost Behavior Concepts
20
Cost Behavior and Cost-Volume-Profit Analysis
A. Cost-Volume-Profit Relationships
1. Contribution Margin Concept
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B. Mathematical Approach to CostVolume-Profit
Analysis
1. Break-Even Point
2. Target Profit
C. Sales Mix Considerations
D. Special Cost-Volume-Profit
Relationships
1. Margin of Safety
2. Operating Leverage
E. Assumptions of Cost-Volume-Profit
Analysis
18
Introduction to Managerial Accounting
A. Job Order Cost Systems
1. Materials
2. Labor
3. Overhead
B. Job Order Costing for Decision Making
24
Differential Analysis and Product Pricing
A. Activity-Based Costing
21
Budgeting
A. Nature and Objectives of Budgeting
1. Objectives of Budgeting
2. Human Behavior and Budgeting
B. Budgeting Systems
1. Static Budget
2. Flexible Budget
3. Computerized Budgeting Systems
C. Master Budget
D. Income Statement Budgets
1. Sales Budget
2. Production Budget
3. Direct Materials Purchases Budget
4. Direct Labor Cost Budget
5. Factory Overhead Cost Budget
6. Cost of Goods Sold Budget
7. Selling and Administrative Expenses Budget
8. Budgeted Income Statement
E. Balance Sheet Budgets
6
1. Cash Budget
2. Capital Expenditures Budget
3. Budgeted Balance Sheet
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Differential Analysis and Product Pricing
A. Differential Analysis
1. Lease or Sell
2. Discontinue a Segment or Product
3. Make or Buy
4. Replace Equipment
5. Process or Sell
6. Accept Business at a Special Price
Final Exam
FIRST ASSIGNMENT – PRE ASSIGNMENT
This assignment is due first class period.
It is very important to come prepared to reap the maximum benefits from each of the class
lectures and activities. Each assigned chapter should be read, studied, and reviewed before the
class that it is going to be the topic.
Therefore for the first class period, please:
1.
Read Chapter 18
2.
Prepare:
Exercise 18 - 1
Exercise 18 – 7
Problem 18 – 1A
Page 841
Page 842
Page 845
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JR 12/15/14
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