Ewha School of Business Spring 2024 Cost & Management Accounting (English Lecture) (원가관리회계) ※ Make sure that your other class schedules are compatible with the following exam schedules. No exceptions can be made: - 중간과 기말 고사는 반드시 다음 스케줄에 응시해야 합니다. 4/25 (Thurs) Midterm Exam (6:20 – 8:20 pm) 6/17 (Mon) Final Exam (6:20 – 8:20 pm) Course Number: 22247 (Section 01) Subject Area: Accounting, 3 credits Class room: Shinsegye 205 Class hours: Tues 3:30 – 4:45 & Thurs 12:30 – 1:45 Professor: 정문종 (Moon Jong Chung), Dept. of Business Administration Phone: 02-3277-3584 E-mail: mchung@ewha.ac.kr Office: Shinsegye 405 Office Hours: On-line by appointments & Zoom sessions I. Course Description and Objectives: An organization has various information needs for effective directing and coordinating of its business processes. Cost information is particularly critical to supporting decision making, coordinating decentralized activities, and evaluating and rewarding individual and group performances. The course is designed to teach students the concepts and materials related to gathering, analyzing and reporting various elements of costs in manufacturing and non-manufacturing companies. After completion of this course, students should be able to: - Understand the basics of various costing systems applicable to products and services. - Understand the behavioral nature of costs and its implications for decision making and controls. - Understand information needs of managers to perform their planning, control, and other decision making functions. In the first part of the course, we will cover the basic concepts of costs and the determination of costs: How to accumulate and process cost data to determine cost of goods manufactured, cost of goods sold, etc. Emphasis will be given to understanding costing systems and overhead cost allocation in the presence of multiple products, common costs, etc Then, we will learn how to produce and use cost and other information in relation to various control and decision making contexts. The topics include CVP analysis, 1 variable costing, relevant cost analysis, ABC and ABM, standard costing and flexible budgeting, decentralization and responsibility accounting, etc. II. Prerequisites for the Course: Before entering this class, you are recommended to take ‘Principles of Accounting Information(회계정보원론)’ or equivalent, and to complete no fewer than two semesters in college. III. Course Format and Communication Policy: The class will be conducted on a combination of lecture and discussion basis. Along with the emphasis on building a conceptual framework for preparing and analyzing information, students will also be heavily exposed to specific techniques and methods of using information for both planning and control purposes. As a practical measure to enhance students' understanding of the concepts and the techniques learned in class, a part of the discussion time will be allocated to problem solving. Each student is expected to review diligently the materials covered after each class meeting and to participate fully in class discussions. All the course materials will be presented in English including the class notes and tests. However, you do not have to speak or write in English. For example, you can ask a question in Korean during the class and write homeworks and tests in Korean. And, of course, we will talk in Korean when you visit my office unless you wish otherwise. IV. Course Policies and Grade Evaluation: The grades will be determined by mixing the relative & the absolute evaluations based on the following weights: Class participation, attendance, discretion. 10% Homeworks 12% Two Quizzes 10% Midterm Exam 34% Final Exam 34% 100% The key to success in this course is to keep current with your assignments and attend all classes. The only way to fully learn the concepts taught and discussed each week is to read thoroughly chapter materials covered and complete diligently homework assigned. I expect every student to attend every class. If you cannot attend the class on a 2 particular day for any reason, please let me know in advance. Absence will affect your grade very adversely. Students who do not complete their homework and do not participate actively in class typically fail. I am more than willing to help students outside of class as well. The above weights will serve as a general guideline only. The weights can be adjusted, if necessary, by the instructor. The final grade will also be affected by the instructor’s discretion. If a student's mean-adjusted score for the Final Exam improves significantly relative to the mean-adjusted score for the Midterm Exam, then a higher weight will be given to the Final Exam than to the Midterm Exam. V. Class Materials: 1. Required Textbook "Managerial Accounting", International Student Ed. (17th Ed), 2021, Garrison, Noreen & Brewer. 2. Lecture Notes Lecture notes for each chapter will be available from the cyber class a couple of days before they will be used in class. You are required to print and bring each chapter’s lecture note to the class. It will be better to print two pages of the notes on each sheet of paper since they are prepared in large font sizes. VI. Homework Assignments and Solutions: I will announce homework assignments as class proceeds. Your completed homework (HW) assignment for each week is due by the beginning of the class time on Tuesday. Unless you have obtained permission before the due date to turn in a late homework due to some extenuating circumstances, there will be a 30 to 50 % score reduction depending on how late it is. All homework should be completed in your own handwriting, not using a word processor. As I believe that homework is a vehicle to ensure students learn from the process of working on the assignment, performance on homework problems will be assessed according to the evident effort expended by the students, not by the correctness of the answers. You must show a valid attempt to finish each problem assigned to receive full credit. Incomplete homework will result in a partial credit. Students are encouraged to work together in completing the homework as well as in studying for examinations. Solutions for selected problems will be posted on the Cyber Class. You may refer to the solutions when you work on your homework and prepare for the exams. 3 Course Schedule Week Topics Assignments (To be announced later) 1 Prologue: Organization and Role of Information 2 Ch 1. Cost terms, Concepts, and Classifications 3 - Continued 4 Ch 1+Appendix 5A. Cost behavior 5 Ch 2. Job-Order Costing 6 Ch 3. Cost Flows & Reporting 7 Ch 4. Process Costing (+FIFO) 8 4/25 (Thurs) MIDTERM EXAM (6:20 – 8:20 pm) Mid-term & Final Exam Policies - No mobile phones allowed during the test. - Bring a Calculator. Dictionary is allowed. - Make sure you take the Mid & Final exams as scheduled above. No exceptions will be made. 9 Ch 5. Cost-Volume-Profit Relationships 10 Ch 6. Variable Costing 11 Ch 13. Differential Analysis for Decision Making + Incentive Problems & Performance Evaluation 12 Ch 12. Strategic Performance Measurement 13 Ch 7. ABC and ABM 14 - Continued 15 Ch 9 & 10. Flexible Budgets and Standard Costs (Selective coverage) Last class: Dec 11th (Tues) 16 6/17 (Mon) FINAL EXAM (6:20 – 8:20 pm) 4 VII. AACSB: ESB Mission: To generate and disseminate knowledge to advance the understanding, practice and management of business while seeking to be a recognized leader in a high-quality business education. ⚫ To play a leading role in the development of ideas that shape the world of business and management. ⚫ To prepare future women leaders of business, education and public services by delivering the quality education. ESB AoL Learning Goals and Traits: Learning Goal 4: Strategic Thinking Objective 1:Students should develop qualitative decision making ability AoL Trait # 4-1: demonstrate integration and application skills Objective 2: Students should develop quantitative analytical skills AoL Trait # 4-2: demonstrate analytical skills and problem-solving skills Learning Goal 5: Management Knowledge Objective 1: Students should acquire advanced knowledge and develop practical understanding in their respective majors. AoL Trait #5-1: Management-specific knowledge in Accounting ESB Code of Ethics: To promote the growth of ethically responsible women leaders at ESB through adherence to the highest standards of academic integrity and overall ethical conduct, and to develop a sense of individual responsibility to maintain such standards. ◼ Code of Ethics for Faculty: ESB faculty must teach students with good faith, maintain transparency in grading, and faithfully conduct student counseling. ◼ Code of Ethics for Students: ESB student is expected to represent her academic product honestly and fairly, and to respect the individual rights of others. VIII. Special Accommodations for Students with Disabilities: According to the University regulation #57, students with disabilities can request special accommodations related to attendance, lectures, assignments, and/or tests by contacting the course professor at the beginning of semester. Based on the nature of the students’ requests, students can receive accommodations from the professor and/or from the Support Center for Students with Disabilities (SCSD). Please refer to the below examples of the types of support available in the lectures, assignments, and evaluations. Lecture ․Visual impairment : braille, enlarged reading materials ․Hearing impairment: note-taking assistant ․Physical impairment: accessto classroom, note-taking assistant Assignments Extra days for submission, Alternative assignments - Actual support may vary depending on the course. 5 Evaluation ․ Visual impairment : braille examination paper, examination with voice support, longer examination hours, note-taking assistant ․ Hearing impairment : written examination instead of oral ․ Physical impairment : longer examination hours, note-taking assistant
