West Virginia University
Acct 431 – Cost Management
Fall 2010 Syllabus
This document is subject to revision, either verbally, written, or electronically. It is your
responsibility to note any and all changes.
Instructor:
Scott Fleming, PhD, CPA, CMA
Assistant Professor
Class:
CRN 85138 MWF 11:30 - 12:20 Rm 428
CRN 85139 MWF 12:30 - 1:20 Rm 230
Office:
313 B&E Building
Phone:
293-7896 (office)
636-7669 (home)
614-3573 (cell)
Office Hours:
MW 1:30 – 2:30 pm, T 8:30 – 9:30 pm. Additionally, I will utilize the Facebook group
“WVU Cost Accounting” for questions and answers – times to be provided. Appointments
for additional times and days are available. Appointments are strongly suggested, even for
scheduled office hours
e-mail: Scott.Fleming@mail.wvu.edu
web:
http://www.be.wvu.edu/divacctg/sfleming/
Required Texts: Cost Accounting 13th ed., Horngren, Datar, Foster, Rajan, & Ittner. Pearson Prentice Hall
2009; Student Solutions for Cost Accounting 13th ed.; and MyAccountingLab
(www.myaccountinglab.com).
Recommended Readings:
Wall Street Journal (available in hard copy in the B&E atrium).
Description:
Accounting 431 is intended to expose students to the basic terms, concepts, analyses, uses,
and procedures used in cost accounting. Additionally, students will have the opportunity to
examine how cost accounting is used for planning and controlling and is a managerial tool
for business strategy, decision making, and implementation. Other topics include
multinational considerations in cost accounting, an examination of fraudulent cost
accounting schemes, and the profession’s code of ethics. Current topics will be drawn into
the discussions as applicable.
Objectives:
To provide students with an opportunity to gain basic knowledge of the concepts and
techniques used for decision making and in the control of product and service costing.
Expected Learning Outcomes:
Upon successful completion of this course students will be able to define, describe, or
perform the following concepts in the accounting environment and their application:
 The Institute of Management Accountants’ Code of Ethics
 Demonstrate an understanding of managerial accounting including:
o Cost-Volume-Profit Analysis
o Budgeting
o Variance Analysis
o Information for decision making
o Cost allocation
o Process costing
o Transfer pricing
o Performance measurement
Professionalism: Students are expected to attend class regularly. Failure to do so may negatively impact the
final grade. As noted below, students will have various homework assignments and at least
one group presentation. Homework will often be reviewed in class, and attendance is
certainly required for the presentation. Additionally, changes or alterations may be made to
the syllabus which may be communicated only in class. Treat class as though you would a
job, only instead of a paycheck, you will receive a grade. There is a strong likelihood that
attendance and grades will move in parallel.
Punctuality is a learned habit and one that is necessary in the workplace. You will be
expected to show up for class on time and make meetings at the appointed hour.
Cell phones are to be either turned “off” or put to “vibrate” before entering the classroom,
and there will be no “texting” during class. Failure to do so may result in a reduction of the
participation grade. Students may quietly excuse themselves from the classroom to take
important calls or for other personal matters.
Grading:
The course grade will be based on the following:
Exams
Project
Homework
Quizzes
Participation and attendance
Final Exam
Scale:
A
AB+
B
BC+
C
CD
F
60 %
5%
5%
10 %
5%
15 %
91 to 100 %
90 to < 91 %
89 to < 90 %
81 to < 89 %
80 to < 81 %
79 to < 80 %
71 to < 79 %
70 to < 71 %
60 to < 70 %
< 60 %
In this and other courses, you are taught the skills necessary to become an accountant. Therefore, at a
minimum, you should be able to maintain your own copies of papers, keep track of your own points, be able
to calculate your own grade, and understand what is necessary for you to achieve your grade goal. This is
bookkeeping at the simplest of levels.
Project: Students will be assigned to groups for the opportunity to collectively work on a particular cost
accounting problem. Each group (with the involvement of each member) will then present to the
class the problem, the method of solving the problem, the data used, and the final solution in report
fashion. The group will also field questions from the class. A select group from each class will be
chosen to present the material to professionals from the accounting field during an evening exercise
(date to be determined). All class members are expected to attend to achieve full credit. This
exercise is designed to enhance the capabilities of the students in accounting concepts, team work,
decision making, and presentation skills. The evening session will be announced in class.
Exams: Students are expected to take exams on the scheduled exam date. Students who must miss a
regularly scheduled exam for any reason have the opportunity to take the make-up exam on the
scheduled exam make-up date during the week before finals week. Each student will have the same
amount of time for each exam, unless directed otherwise by an accommodation letter from the Office
of Disability Services.
Homework:
Homework assigned is expected to be completed and turned-in during class or via on-line through
myaccountinglab.com as denoted. Those assignments deposited under my door or via e-mail will be
not be accepted. The assignments are designed to reinforce techniques and topics discussed in class
and to prepare the student for the examinations.
Quizzes:
Quizzes are designed to further reinforce the materials assigned and to assist the students in
preparation for the examinations. Quizzes may be announced or unannounced and cannot be made
up if missed.
Participation:
Participation is measured by a number of factors including class attendance, interaction during class
in question and answer discussions, interaction with guest speakers, and participation in impromptu
“elevator speeches” (students randomly selected) during class.
Academic Integrity:
A student’s signature on a paper or examination attests to his or her completion of the work in an
ethical and professional manner. Cases of academic dishonesty will be handled in accordance with
University policy. Refer to the Student Handbook section on Academic Honesty.
Social Justice Statement:
West Virginia University is committed to social justice. The instructor of this course concurs with
that commitment and expects to maintain a positive learning environment based upon open
communication, mutual respect, and non-discrimination. Our University does not discriminate on
the basis of race, sex, age, disability, veteran status, religion, sexual orientation, color, or national
origin. Any suggestions as to how to further such a positive and open environment in this class will
be appreciated and given serious consideration.
If you are a person with a disability and anticipate needing any type of accommodation in order to
participate in this class, please advise the instructor and also make appropriate arrangements with
Disability Services (293-6700). Students with accommodation letters must make an appointment
with the instructor to discuss appropriate accommodations. Additionally, instructors must now sign
and date all accommodation letters.
Date
Topic
Readings and Exams
8/23
Course & Syllabus Overview; Ch. 1; IMA Code of Ethics
8/25
Ch. 2 An Introduction to Cost Terms and Purposes
8/27
Ch. 3 Cost-Volume-Profit Analysis
8/30
Ch. 3 Cost-Volume-Profit Analysis
9/1
Project Introduction
Quiz: Chapter 1-3 & Code of Ethics
9/3
Ch. 4 Job Costing
9/6
Labor Day Recess
9/8
Ch. 4 Job Costing
9/10
Ch. 6 Master Budget and Responsibility Accounting
9/13
Ch. 6 Master Budget and Responsibility Accounting
9/15
Examination #1
9/17
Ch. 7 Flexible Budgets, Direct-Cost Variances, and Management Control
9/20
Ch. 7 Flexible Budgets, Direct-Cost Variances, and Management Control
9/22
Ch. 7 Flexible Budgets, Direct-Cost Variances, and Management Control
9/24
Out of class assignment – Group Time for Project
9/27
Ch. 8 Flexible Budgets, Overhead Cost Variances, and Management Control
9/29
Ch. 8 Flexible Budgets, Overhead Cost Variances, and Management Control
10/1
Ch. 8 Flexible Budgets, Overhead Cost Variances, and Management Control
10/4
Guest Speaker
10/6
Examination #2
10/8
Ch. 9 Inventory Costing and Capacity Analysis
10/11 Ch. 9 Inventory Costing and Capacity Analysis
10/13 Ch. 10 Determining How Costs Behave
10/15 Ch. 10 Determining How Costs Behave
10/18 Examination #3
10/20 Ch. 11 Decision Making and Relevant Information
10/22 Ch. 11 Decision Making and Relevant Information
10/25 Ch. 12 Pricing Decisions and Cost Management
10/27 Ch. 12 Pricing Decisions and Cost Management
10/29 Examination #4 (written group project due)
11/1
Ch. 14 Cost Allocation, Customer-Profitability Analysis, and Sales-Variance Analysis
11/3
Ch. 14 Cost Allocation, Customer-Profitability Analysis, and Sales-Variance Analysis
11/5
Ch. 14 wrap-up Quiz: Chapter 14
11/8
Ch. 15 Allocation of Support-Department Costs, Common Costs and Revenues
11/10 Ch. 15 Allocation of Support-Department Costs, Common Costs and Revenues
11/12 Ch. 15 wrap-up Quiz: Chapter 15
11/15 Ch. 16 Cost Allocation: Joint Products and Byproducts
11/17 Ch. 16 Cost Allocation: Joint Products and Byproducts
11/19 Examination #5
11/22 --26
Thanksgiving Recess
11/29 Ch. 17 Process Costing
12/1
Ch. 17 Process Costing
12/3
Ch. 17 Process Costing Quiz: Chapter 17
12/6
Ch. 22 Management Control Systems & Transfer Pricing
12/8
Ch. 22 Management Control Systems & Transfer Pricing
12/10 Exam Make-up Day
Final Exam
Please consult the University Final Exam Schedule for dates and times
Tentative Homework Assignments
Note: Only limited homework will be covered in class. Given the time constraints, it is most likely that the
even-numbered problems will not be covered, particularly since the solutions may be found in the Student
Solutions for Cost Accounting 13th ed., a required text. Students are, however, responsible for the homework
and concepts covered.
Homework to be collected for a grade may be either announced in advance or randomly selected. Additional
homework will also be assigned through MyAccountingLab. Please check MyAccountingLab for problem
assignments and due dates.
MyAccountingLab Homework Assignments:
Chapter 1
18, 20, 22, 24, 26, 27, Note: Please examine and work the first MyAccountingLab
assignment. The first assignment will be due by the end of the week, but it is set to allow
you as many tries as necessary. This is the only assignment with this feature.
Chapter 2:
Chapter 3:
Chapter 4:
Chapter 6:
Chapter 7:
Chapter 8 :
Chapter 9 :
Chapter 10 :
Chapter 11 :
Chapter 12 :
Chapter 14 :
Chapter 15 :
Chapter 16 :
Chapter 17 :
Chapter 21 :
Chapter 22 :
Chapter 23 :
18, 20, 21, 22, 23, 25, 26, 29, 30, 32
16, 17, 18, 19, 21, 25, 31, 35, 37, 44
16, 17, 19, 20, 21, 26, 32
16 – 20, 30, 31
16, 17, 19, 21, 22, 24, 34
16, 17, 18, 19, 21, 23, 29, 30
16, 18, 20, 21, 23
16, 17, 18, 21, 23, 24, 25
16, 18, 19, 21, 24, 26
16, 17, 23, 24, 35
17, 19, 21, 23, 25, 26
16, 17, 18, 19, 20, 21, 22
16, 17, 18, 21
16, 17, 18, 19, 20, 21, 22
16, 17, 21, 30, 31
19, 20, 21, 23
18, 19, 20, 21, 22, 24, 25
Additionally, select homework will be distributed in class. Due dates will be announced when assigned.