West Virginia University Acct 431 – Cost Management Fall 2009 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 85950 MWF 11:30 - 12:20 Rm 230 CRN 85951 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). 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 have an understanding of the following concepts in the accounting environment and their application: The Institute of Management Accountants’ Code of Ethics Cost-Volume-Profit Analysis Budgeting Variance Analysis Information for decision making Cost allocation Process costing Capital budgeting Transfer pricing 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 and quizzes Participation and attendance Final Exam Scale: A AB+ B BC+ C CD F 75 % 5% 5% 5% 10 % 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. 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. In general, quizzes will be unannounced and cannot be made up if missed. Participation: Participation is measured by a number of factors, including but not limited to class attendance, interaction in discussions, and attendance and participation in limited evening seminars. 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 8/24 8/26 8/28 8/31 9/2 9/4 9/7 9/9 9/11 9/14 9/16 9/18 9/21 9/23 9/25 9/28 9/30 10/2 10/5 10/7 10/9 10/12 10/14 10/16 10/19 10/21 10/23 10/26 10/28 10/30 11/2 11/4 11/6 11/9 11/11 11/13 11/16 11/18 11/20 11/23 11/25 11/27 11/30 12/2 12/4 12/6 12/3 12/5 12/15 12/17 Course & Syllabus Overview; Ch. 1; IMA Code of Ethics Ch. 2 An Introduction to Cost Terms and Purposes Ch. 3 Cost-Volume-Profit Analysis Examination #1 Project Introduction Ch. 4 Job Costing Labor Day Recess Ch. 4 Job Costing Ch. 6 Master Budget and Responsibility Accounting Ch. 6 Master Budget and Responsibility Accounting Examination #2 Ch. 7 Flexible Budgets, Direct-Cost Variances, and Management Control Ch. 7 Flexible Budgets, Direct-Cost Variances, and Management Control Ch. 7 Flexible Budgets, Direct-Cost Variances, and Management Control Out of class assignment Ch. 8 Flexible Budgets, Overhead Cost Variances, and Management Control Ch. 8 Flexible Budgets, Overhead Cost Variances, and Management Control Out of class assignment Examination #3 Ch. 9 Inventory Costing and Capacity Analysis Ch. 9 Inventory Costing and Capacity Analysis Ch. 10 Determining How Costs Behave Ch. 10 Determining How Costs Behave Ch. 11 Decision Making and Relevant Information Ch. 11 Decision Making and Relevant Information Ch. 12 Pricing Decisions and Cost Management Ch. 12 Pricing Decisions and Cost Management Examination #4 Ch. 14 Cost Allocation, Customer-Profitability Analysis, and Sales-Variance Analysis Ch. 14 Cost Allocation, Customer-Profitability Analysis, and Sales-Variance Analysis Ch. 15 Allocation of Support-Department Costs, Common Costs and Revenues Ch. 15 Allocation of Support-Department Costs, Common Costs and Revenues Ch. 16 Cost Allocation: Joint Products and Byproducts Ch. 16 Cost Allocation: Joint Products and Byproducts Ch. 17 Process Costing Ch. 17 Process Costing Examination #5 Final Presentation for Project Ch. 21 Capital Budgeting and Cost Analysis Thanksgiving Recess Thanksgiving Recess Thanksgiving Recess Ch. 21 Capital Budgeting and Cost Analysis Ch. 22 Management Control Systems & Transfer Pricing Ch. 22 Management Control Systems & Transfer Pricing Ch. 23 Performance Measurement & Compensation Ch. 23 Performance Measurement & Compensation Exam Make-up Day Final Exam 3:00 – 5:00 pm (CRN 85951 MWF 12:30-1:20) Rm 230 TUE Final Exam 8:00 – 10:00 am (CRN 85950 MWF 11:30-12:20) Rm 230 TH 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. 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