Spring 2012 COURSE SYLLABUS GREAT BASIN COLLEGE ACC 202 MANAGERIAL ACCOUNTING (3 credits) (1002) Instructor: Scott Nielsen, MBA, CPA Office: Berg Hall Office Phone: (775) 753-2289 (voice mail) Office Hours: By appointment E-mail: Through WebCampus Or [email protected] Class dates: N/A Online Course Only COURSE MATERIALS 1) Textbook: Accounting, by Warren, Reeve, Duchac, 24e, South-Western Cengage Learning, 2009-12 (Required) Note: This course begins with Chapter 13 (Chapters 1-12 are covered in ACC 201). COURSE CATALOG DESCRIPTION A continuation of ACC 201 with a concentration on the corporate form of organization. Topics include stockholders’ equity, long-term debt, investments, statement of cash flow, financial statement analysis, and an introduction to managerial accounting. COURSE PREREQUISITES ACC 201 (Financial Accounting). Basic math and computer skills, Internet access, and WebCampus familiarity are expected. COURSE OBJECTIVES/EXPECTED LEARNER OUTCOMES MEASUREMENT Upon completion of the course the student will be able to: 1. Identify a corporation’s characteristics; prepare stockholders’ equity section; account Chapter 13 homework for stock issuance, cash & stock dividends, treasury stock transactions; stock splits. problems, quiz, Exam 1 2. Account for bonds payable issuance & redemption, interest expense, installment Chapter 14 homework notes; report long-term liabilities (bonds and notes payable) on the balance sheet, problems, quiz, Exam 1 3. Account for debt & equity investments; value & report investments in financial Chapter 15 homework statements; describe fair value accounting & its implications for the future. problems, quiz, Exam 1 4. Identify purposes of a cash flow statement (CFS); prepare a CFS using the direct Chapter 16 homework & indirect methods; distinguish among operating, investing, & financing activities. problems, quiz, Exam 1 5. Perform horizontal & vertical analyses of financial statements; prepare common-sized Chapter 17 homework statements; compute & use standard financial ratios to assess solvency & profitability of problems, quiz, Exam 2 a business; describe corporate annual reports. 6. Describe managerial accounting, its role in business, its uses; classify costs; prepare Chapter 18 homework an income statement, balance sheet, & cost of goods manufactured statement. problems, quiz, Exam 2 7. Describe cost accounting systems used in manufacturing; use a job order cost system Chapter 19 homework for manufacturing, for decision making, and for a service company. problems, quiz, Exam 2 8. Use process costing to prepare journal entries; prepare a cost of production report & Chapter 20 homework use it in decision making; compare JIT with traditional manufacturing processing. problems, quiz, Exam 2 9. Use cost-volume-profit (CVP) analysis to classify costs, compute breakeven & sales Chapter 21 homework for a target profit for single & multiple product lines; use a CVP chart & a profit-volume problems, quiz; Exam 3 chart; compute contribution margin, contribution margin ratio, unit contribution margin, operating leverage, margin of safety. 10. Describe budgeting objectives, static & flexible budgets, computers in budgeting, the Chapter 22 homework master budget; prepare income statement & balance sheet budgets for manufacturing. problems, quiz; Exam 3 11. Describe types of standards & how they are used in budgeting; compute & interpret Chapter 23 homework variances for direct materials & direct labor, factory overhead controllable & volume; problems, quiz; Exam 3 record transactions at standard cost, prepare a standard cost income statement. 12. Prepare a responsibility accounting report for a cost center & a profit center; Chapter 24 homework compute & interpret the rate of return on investment, residual income, & balanced problems, quiz, Final scorecard for an investment center; use market price, negotiated price, & cost price in Exam transfer pricing. 13. Prepare differential analysis reports for decision making; use total cost, product cost, Chapter 25 homework & variable cost to determine a product’s selling price; compute relative profitability in problems, quiz, Final bottleneck production processes. Exam 14. Evaluate capital investment proposals using average rate of return, cash payback, Chapter 26 homework net present value, internal rate of return; identify factors complicating capital investment problems, quiz, Final analysis; diagram the capital rationing process. Exam In addition, this course is part of the Associate of Applied Science degree in which students’ overall progress is measured at the program level upon entrance into the program and upon graduation. HOMEWORK/EXAMS All homework assignments, quizzes, and exams are to be completed on-line in WebCampus. Students may discuss homework assignments, but the final product submitted should be each student’s individual work. Chapter quizzes are open book, untimed, and completed independently. Discussion board posts, homework, quizzes and exams are completed and submitted on WebCampus. Three quizzes may be taken per chapter with the highest score recorded. Exams are timed and must be completed independently. Working with others on the exams or transferring or receiving exam information is cheating and will result in disciplinary action in accordance with the GBC general catalog and student handbook. TEACHING METHODOLOGY: This is a WebCampus only course. Topics in this class will be introduced by a combination of discussion board posts, working exercises and problems, and quizzes. Additionally, Power Point slides for each chapter will be provided as an additional learning resource. Students will work problems independently and expected to submit them using WebCampus by due dates. Any assignments turned in late will not receive full credit as follows: 85% within one week of due date, 75% within the next week, and 70% after 2 weeks late. COURSE REQUIREMENTS: You are responsible for the readings, discussion board posts, and assignments. Students are encouraged to turn in all assignments on time. Otherwise grade may be affected. A student who misses three or more successive assignments may be dropped from the course. ALL ASSIGNMENTS, QUIZZES, AND EXAMS ARE DUE WEEKLY BY SUNDAY AT 11:59 PM. Tentative Class Schedule Dates Jan 23 – Jan 29 Jan 30 – Feb 5 Feb 6 – Feb 12 Feb 13 – Feb 19 Feb 20 – Feb 26 Feb 28 – Mar 2 Feb 27 – Mar 4 Mar 5 – Mar 11 Mar 12 – Mar 18 Mar 19 – Mar 25 Mar 26 – Mar 31 April 2 – April 8 April 9 – April 15 April 16 – April 22 April 23 – April 26 April 23 – April 29 Topics/Reading Introduction to Course; Ch 13: Corporations: Organization, Stock Transactions, & Divs Ch 14: Long-Term Liabilities: Bonds & Notes; Appen 1 PV Concepts & Pricing Bonds Payable Ch 15: Investments & Fair Value Acctg; Appen 1 Acctg for Held-to-Maturity Investments; Appen 2 Comprehensive Income Ch 16: Statement of Cash Flows Ch 17: Financial Statement Analysis Appen Unusual Items on the Income Statement Ch 18: Intro to Management Accounting Ch 19: Job Order Costing Ch 20: Process Cost Systems Homework Discussion Board (DB)1, 13; Quiz; PR 131A, PR-4A DB 14; Quiz; PR 14-1A, PR 14-4A Due Date January 29 Points 20, 20, 10, 20, 20 February 5 20, 10, 20, 20 DB 15; Quiz, PR 15-2A, PR 15-4A February 12 20, 10, 20, 20 DB 16; Quiz; PR 16-1A, PR 16-5A DB 17; Quiz; PR17-1A, PR 17-4A February 19 20, 10, 20, 20 February 26 20, 10, 20, 20 **EXAM 1 (Chapters 13-16) DB 18; Quiz; PR18-5A March 2 100 March 4 20, 10, 20 DB 19; Quiz, PR 19-2A, PR 19-4A DB 20; Quiz; PR 20-2A; March 11 20, 10, 20, 20 March 18 20, 10, 20 **EXAM 2 (Chapters 17-20) March 25 100 DB 21; Quiz; PR 21-6A April 8 20, 10, 20 DB 22; Quiz; PR 22-3A, PR 22-4A DB 23; Quiz; PR 23-3A April 15 20, 10, 20, 20 April 22 20, 10, 20 **EXAM 3 (Chapters 21-23) DB 24; Quiz; PR24-5A April 26 100 April 29 20, 10, 20 Spring Break Ch 21: Cost Behavior & Cost-VolumeProfit Analysis Ch 22: Budgeting Ch 23: Performance Eval Using Variances from Std Costs Ch 24: Performance Eval for Decentralized Operations April 30 – May 6 May 7 – May 13 May 14 – May 16 Ch 25: Differential Analysis & Product Pricing Appen: Activity-Based Costing Ch 26: Capital Investment Analysis DB 25; Quiz; PR 25-2A, PR 25-3A DB 26; Quiz; PR26-6A May 6 20, 10, 20, 20 May 13 20, 10, 20 **FINAL EXAM (Chapters 24-26) May 16 100 Note: This schedule is tentative. Although no major changes in the content of this syllabus are anticipated, instructor reserves the right to change certain aspects of the course syllabus, such as assignments, due dates, grading procedures, or materials to accommodate student/instructor needs. However, no changes will be made without informing the class in a timely and clear manner. Check WebCampus daily for updates. Course Requirements: 3 Exams 22 Homework problems 15 Discussion Board Posts 14 Chapter quizzes Final exam Total points 300 440 300 140 100 1,280 Letter Grade Equivalents: A 94-100%; A- 90-93% B+ 87-89%; B 83-86%; B- 80-82% C+ 77-79%; C 73-76%; C- 70-72% D+ 67-69%; D 63-66%; D- 60-62% F < 60% Students who successfully complete this course complete all discussion board posts, and complete all homework, quizzes and exams in a timely manner. Remember that the more effort you put into this class, the more you will get out of the class in terms of knowledge as well as a course grade.