Heartland Community College
Social and Business Sciences Division
Course Syllabus for Students – Fall 2012
Course Prefix and Number: ACCT 201 – 01
Course Title: Managerial Accounting
Prerequisite: ACCT 200 and Math 106 or Math 109 with a grade C or better
Credit Hours:
4
Lecture Hours: 4
Days and times the course meets:
Laboratory Hours: 0
Tues & Thurs 9:00 – 10:50
CATALOG DESCRIPTION:
Prerequisite: ACCT 200 and MATH 106 or MATH 109 with a grade of C or better. This course
offers students a full semester of managerial accounting. It presents accounting as a system of
producing information for use in internally managing a business. The course emphasizes the
identification, accumulation, and interpretation of information for planning, controlling, and
evaluating the performance of the separate components of a business. Included is the
identification and measurement of the cost of producing goods or services and how to analyze
and control these costs. Decision models commonly used in making specific short-term and longterm business decisions are also included.
Instructor Information:
Karen Mitchusson, M.A., C.P.A.
Office location:
Office phone:
E-Mail:
2011 ICN
(309) 268-8571
karen.mitchusson@heartland.edu
Office hours:
Tuesday 8:00 – 9:00; 11:00 – 1:00; 5:00 – 6:00 and Thursday 8:00 – 9:00. Other
times by appointment or drop-in.
TEXTBOOK AND SUPPLIES:
Garrison, Ray H. 2010. Managerial Accounting, 14th Ed. McGraw Hill - Irwin.
Access Code to McGraw-Hill Connect Accounting homework program
Calculator and Pencil
Websites: www.heartland.edu
www.mhhe.com/garrison14e
connect.mcgraw-hill.com
www.mcgrawhillconnect.com
www.mhhe.com/support or 1-800-331-5094
RELATIONSHIP TO ACADEMIC DEVELOPMENT PROGRAMS AND TRANSFER:
ACCT 201 fulfills 4 semester hours of elective credit for the A.A., A.S. or A.A.S. degrees. It
should transfer to most colleges and universities as an elective course. However, since it is not
part of the General Education Core Curriculum described in the Illinois Articulation Initiative,
students should check with an academic advisor for information about its transferability to other
institutions. ACCT 201 should articulate as the equivalent of the IAI baccalaureate major course
BUS 904 Managerial Accounting. Refer to the IAI web page for information as well at
www.itransfer.org.
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COURSE OBJECTIVES (Learning Outcomes):
Outcomes
General
Education
Outcomes
1. Describe the role managerial accounting plays in planning,
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
control, and decision making activities of a business.
Record the flow of materials, labor, and overhead through
both job-order and process costing systems and distinguish
between the basic system designs utilized in each costing
system.
Prepare and analyze schedules of cost of goods
manufactured and cost of goods sold in job-order costing
systems.
Analyze cost behavior and apply cost-volume-profit
analysis tools to prepare and interpret contribution margin,
break-even, target profit, margin of safety, and net income.
Compute, reconcile, interpret, and analyze absorption and
variable costing methods and their application for financial
reporting and managerial decision making.
Assign and analyze costs utilizing the activity-based
costing method as a decision making tool
Create and analyze the interdependent budgets necessary to
create a master budget with a pro-forma income statement
and balance sheet.
Measure and interpret the business implications of standard
cost variances for material, labor and manufacturing
overhead
Identify, analyze and interpret relevant and irrelevant costs
and benefits in various business decision making situations.
Compute and evaluate the acceptability of investment
projects utilizing capital budgeting and net present value
tools
Identify the basic concepts underlying just-in-time
inventory procedures and analyze the impact the system
has on cost management, planning, and decision making.
Prepare, interpret and analyze a statement of cash flows.
13. Interpret and analyze financial statements using various
ratios and analyses techniques.
Range of Assessment
Methods
Class activities
Quiz/Test questions
PS2
Class activities
Quiz/Test questions
CT1
PS2
Class activities
Quiz/Test questions
CT2
PS2
Class activities
Quiz/Test questions
CT2
PS2
Class activities
Quiz/Test questions
CT1
PS1
CT2
PS2
Class activities
Quiz/Test questions
Case project
Class activities
Quiz/Test questions
CT2
PS2
Class activities
Quiz/Test questions
CT2
PS2
CT2
PS2
Class activities
Quiz/Test questions
Case Project
Class activities
Quiz/Test questions
CT1
Class activities
Quiz/Test questions
CT2
PS2
CT2
PS2
Class activities
Quiz/Test questions
Case project
Class activities
Quiz/Test questions
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COURSE/LAB OUTLINE:
1. Managerial Accounting: An Overview
2. Managerial Accounting and Cost Concepts
3. Job-Order Costing
4. Process Costing
5. Cost-Volume-Profit Relationships
6. Variable Costing and Segment Reporting: Tools for Management
7. Activity-Based Costing: A Tool to Aid Decision Making
8. Budgets and Profit Planning
9. Standard Costs and Variances
10. Differential Analysis: The Key to Decision Making
11. Capital Budgeting Decisions
12. Statement of Cash Flows
13. Financial Statement Analysis
METHODS OF INSTRUCTION:
Instructor’s Responsibilities:
The instructor will direct the class through the material contained in this course. The material
will be presented through a variety of techniques including lectures, problem solving,
demonstrations, examples, and group problem solving. Every effort will be made to meet the
needs of students and assist in the mastery of the skills and knowledge required for
understanding the concepts in this course.
Student Responsibilities:
As the student, you have a responsibility to:
 attend class
 read the chapters assigned and prepare for class
 complete assignments
 ask questions and participate in class discussions
 utilize Connect Accounting program  connect.mcgraw-hill.com
 check HCC email if you missed a class session  www.heartland.edu
 check Connect every week and if you missed a class session
 access textbook website for additional resources  www.mhhe.com/garrison14e
 actively participate in all group and course related activities
 be respectful of the instructor and the other students in the classroom
 communicate with instructor when you encounter difficulties with course materials
 request help as needed
 comply with course and college-wide policies
NOTE: Accounting is one subject learned by doing. To do well, it is essential that you keep up
with readings and assignments. Failure to do so generally results in poor performance on exams.
Don’t let yourself fall behind – it can be devastating in a class like this.
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Student Conduct
The environment in the classroom is an important part of the learning process. It should be
free of unnecessary interruptions. Students should be in the classroom prior to start time and
stay in the classroom until the class has ended. Coming in late or leaving early is disruptive
to the learning process. Additionally, the use of cell phones during class is disruptive
behavior. Please put cell phones away during class time. Students should conduct themselves
in a professional manner at all times.
COURSE POLICIES
Class Participation
Class participation is an important element of this course. Participation makes our class more
interesting and clarifies your understanding of the material. Included in the class participation
portion of your grade will be your attendance ( I take attendance in every class), your being on
time for class, your attentiveness, your ability to ask thoughtful questions during class, and your
ability to respond to questions from your instructor. Sharing work and other life experiences
applicable to the course material are particularly welcome.
Textbook and Connect
It is required that you have a textbook for this class (paper or eBook). The textbook website
(www.mhhe.com/garrison14e) contains many active student learning and studying materials that
can assist you in learning the course material. Bring your textbook to class as we will utilize the
diagrams and examples.
Connect is a required online homework management system for this course. You must purchase
a Connect Access Code. Access codes can only be used once and must be the code for the
required book we are using. To register you need a specific Connect URL for this class. This
information and registration instructions are given out in handouts on the first day of class.
Reading and Homework
A schedule of tentative topics and homework assignments is attached to this syllabus. Students
are expected to have read all assigned materials each day before attending class. The exam
content will assume that you have read each chapter carefully.
Group activities will be assigned during the semester. These activities are designed to reinforce
the accounting skills as well as the critical thinking skills being introduced in that particular unit
of study. It is also a goal of these activities to enhance the teamwork skills of all students. All
students are expected to actively participate in these activities.
Policies on Assignments/Exams/Make-ups:
All graded work must be completed by the due dates announced in class or posted in Connect
Accounting to receive full credit. All Connect work must be submitted by 11:59 pm on due date.
Homework in Connect Accounting is one point per assigned homework (one homework may
have more than one question). Homework problems are to be used to help you understand the
material because you will learn by doing. If you understand the material and the problems
illustrated in the readings, it may not be necessary for you to work every homework exercise on
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the topic unless you feel it is necessary for you to fully understand the material. It is
recommended but not required that you work every homework problem. Homework grades are
based on work completed by exam date for each unit. At the end of each unit, the homework
points will be added to your grade based on the following:



If you successfully complete 75% or more of the unit homework you will receive
full credit for homework which is one point per assigned homework problem.
If you successfully complete 60-74% of the unit homework you will receive 3/4
of the homework points.
If you successfully complete less than 60% of the unit homework you will receive
the actual points you earned for the homework.
Additionally at the end of the course, if you worked 70% or more of the total homework
assignments for the semester, you will receive 5 extra credit points added to the final exam.
Quizzes required in Connect Accounting will be submitted online at connect.mcgraw-hill.com.
All quizzes are 10 points each and you will usually have 2 attempts. Your quiz grade will be the
average of the attempts. The quizzes must be completed by deadline listed. In determining your
course grade, the top 20 Connect Accounting quiz grades will count toward your grade.
Quizzes given in class must be taken during the allotted time. If you come in the class after the
quiz has started you may not be allowed to take that quiz. Generally, no in-class quizzes can be
made up. All in-class quizzes will count toward your grade.
Most chapters will have activities that are completed in class. Generally, you must be present
during the class activity to receive the points for that activity.
Students will use calculators during quizzes and examinations. Students are responsible for
completing quizzes/exams within the allotted time period in case of calculator failure. No
calculators on cell phones, palm pilots, or other multifunctional electronic devices may be
used on exams.
Examinations will consist of problems, as well as multiple choice, true/false, and/or essay
questions which are included to test your conceptual understanding of the material. All exams
count toward your course grade. No exams are dropped.
Generally, makeup assignments or exams will be given only at the discretion of the
instructor. In some instances, students may have to miss class for a valid, collegesanctioned reason. Missed work while student participates in a co-curricular collegesponsored event will be made up based on Heartland’s Policy for the Equitable Treatment
of Students Participating in College-Sponsored Events. Student participants must inform
instructor at the beginning of the semester of any affiliation in student organizations and a
list of scheduled absences by letter. Any missed graded work must be completed prior to
the student absence caused by the co-curricular college-sponsored event.
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Grading System:
Grades will be based on required assignments, activities, quizzes, online assignments, group
assignments, projects and exams. Students must have access to Connect Accounting program to
complete required assignments.
Measurement
Assignments, Quizzes, Activities, Problems, Projects, Participation
Exams
Final Exam-Comprehensive
Total
%
40%
50%
10%
100%
Exams will be given covering the material show below.
Exam
Exam Material
Exam 1
Exam 2
Exam 3
Final Exam
Chapters 1 – 3
Chapters 4 – 6
Chapters 7, 8 & 10
Chapters 12 – 15 & Comprehensive Questions
Extra credit questions are typically given with each exam. The points will be added to your exam
score before the grade is entered into the grade book. Some extra credit may be available for this
course other than that specifically stated in syllabus and it will be announced in class. No
individual student extra credit is available.








Please note that based on the above table that the majority of your grade is from exams
during the semester .
All exams are required—No exam grades will be dropped.
The final is comprehensive and required. It consists of the last chapters we cover and
comprehensive questions from the other chapters.
All graded work must be completed by the due dates to receive full credit.
Students are expected to use calculators during homework, assignments, quizzes and
examinations.
Students are responsible for completing within the allotted time period in case of
calculator failure.
Students are responsible for having access to a working computer to complete online
assignments by due dates.
Students should not wait until the last minutes of an assignment due date in case of
computer failure. You need a back-up plan.
Grading Scale:
The grading scale used to determine course grade is as follows:
90 – 100%
80 – 89%
70 – 79%
60 – 69%
Below 60%
=
=
=
=
=
A
B
C
D
F
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Anyone who removes an exam, in part or in total, from the classroom at anytime will be given a
grade of "F" for the course. Reproduction of the contents of the exam by any process will result
in your receiving a grade of "F" for the course. Cheating on any course work will result in an
“F”.
Communication
Communication is very important. Keep me informed about any issues that will affect your class
work or assignments. You can reach me by phone, voice mail, or email. In addition to my office
hours, I am usually here all day Monday – Thursday. Please feel free to drop by anytime without
an appointment. For voice mail communication, please clearly state your name, course section,
and how I can reach you. All email communication should clearly state your name, the course
section and what the communication is about at the very beginning of the email.
Attendance Policy:
Attendance at every class meeting is necessary for mastery of this course. Consistent class
attendance and participation is critical in the learning process since accounting knowledge tends
to be cumulative in nature. Some problems will be completed in small groups; you are expected
to attend each class period to participate as part of the class. Attendance will be taken at every
class meeting. Class attendance, promptness, and participation in class activities will be
evaluated by the instructor and may be considered as part of determining your final course grade.
Notice of Cancelled Class Sessions:
Cancelled class sessions, for all HCC classes, will be listed under Cancelled Class Meetings
announcements at www.myheartland.edu. The list will show you the classes that have been
cancelled for that day and the upcoming week. Be sure to check the last column, which might
contain a message from the instructor.
Required Writing and Reading:
The reading materials are designed to provide the basis needed for the study of managerial
accounting. We will not necessarily discuss all of the information contained in the daily reading
assignments. Students will be responsible for all information presented in assigned text
readings. The exam content will assume that you have read each chapter carefully. You need to
take charge of your learning and bring up questions that come to mind as you read the material or
work problems. Additionally, your textbook and Connect have additional web-based learning
tools to help you with the material.
Homework activities, problems and/or cases are assigned throughout the course that may require
written communication of their findings. In addition, these activities will require the student to
integrate problem-solving and critical thinking skills from that chapter to arrive at a decision
and/or analysis of the concepts being introduced in that particular unit of study.
It is a goal of this course to enhance both the written and verbal communication skills of
students. Most problems and exercises assigned will be reviewed in class discussions. All
students are expected to actively participate in these class discussions.
Disclaimer
The instructor reserves the right to alter the course syllabus as circumstances dictate. Any
changes will be announced in class and/or emailed. Any student not attending class is
responsible for obtaining this information.
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Managerial Accounting ACCT 201 01 Tues/Thurs
Course Schedule
It is expected that you read each chapter.
Chapter/Date
Activities/Assignments
Graded Assignments
Getting
Started
August 21
Introduction, Syllabus,
Connect Demonstration
& Registration, Website
Demonstration
Group Activity: Product Manufacturing
Global Market Assignment (10 points)
Chapter 1
August 23
Managerial Accounting: An Overview
Connect: LearnSmart
C1 Content Quiz (10 points)
Chapter 2
August 28 &
30
Managerial Accounting and Cost Concepts
Ex 1, 2, 3, 4, 5, 6, 7, 22
Ex 11 Income Statement(10 points)
Connect: LearnSmart
Ex 13 High Low Method (10 points)
Project: Ex 8 Income Statement (15 points)
Group Project: Products (10 points)
Chapter 3
September 4,
6, 11
Job-Order Costing & Appendix B Classification of Labor Costs
Ex 1, 2, 4, 6, 7, 11
Statements (10 points)
Connect: LearnSmart
E12 POHR (10 points)
E19 Entries (10 points)
Project: P27 Job-order entries (15 points)
Review Chapters 1 -3
Group Project: Job Order Costing (10 points)
September 13
Exam 1 Chapters 1 - 3
Chapter 4
September 18
& 20
Process Costing
Ex 1, 2, 3, 4, 5, 6, 9
Connect: LearnSmart
Chapter 5
September 25
& 27
Cost-Volume-Profit Relationships
Ex 1, 2, 4, 5, 6, 8, 9
Ex 11 Break-Even (10 points)
Connect: LearnSmart
Ex 15 Leverage (10 points)
P 19 CVP Analysis (10 points)
Content Quiz (10 points)
Getting Started
EXAM 1
Ex 7 Equivalent Units & Reconciliation (10 points)
Ex 10 Equivalent Units (10 points)
Excel P15 (10 points)
Project P13 Equivalent Units & Reconciliation (15
points)
Content Quiz (10 points)
8
Chapter/Date
Activities/Assignments
Chapter 6
October 2, 4, 9
Variable Costing and Segment Reporting: Tools for Management
Ex 1, 2, 3, 4, 7, 9, 12
Ex 11 Segments (10 points)
Connect: LearnSmart
Ex 16 Variable & Absorption(10 points)
Project E13 Variable Costing(15 points)
Exam Review Chapters
Content Quiz (10 points)
4-6
October 11
Exam 2 Chapters 4-6
Chapter 7
October 16 &
18
Activity-Based Costing
Ex 1, 3, 4, 6, 9, 13
Connect: LearnSmart
Chapter 8
October 23,
25, 30
Profit Planning
Ex 1, 2, 3, 4, 5, 6, 7, 8,
11, 21
Connect: LearnSmart
Chapter 10
November 1,
6, 8
Standard Costs and Variances
Ex 1, 2, 3, 4, 8
Ex 7 (10 points)
Connect: LearnSmart
Ex 9 (10 points)
Content Quiz (10 points)
Review Chapters 7, 8 &
10
Exam 3
EXAM 3
Chapters 7, 8 & 10
November 13
Graded Assignments
EXAM 2
Ex 5 Customer Margin (10 points)
Ex 11 Customer Margin(10 points)
Ex 17 (10 points)
Excel P 20 (10 points)
Content Quiz (10 points)
Project: ABC Summary Paper (15 points)
Ex 10 (10 points)
Ex 12 (10 points)
Ex 16 (10 points)
P 17 (10 points)
Content Quiz (10 points)
Project: Excel P 20 (15 points)
Chapter 12
Differential Analysis
November 15,
20, 27
Ex 1, 2, 3, 4
Connect: LearnSmart
Chapter 13
November 29
Capital Budgeting Decisions
Ex 1, 2, 4, 5, 10
Ex 9 (10 points)
Connect: LearnSmart
Ex 7 &11 (10 points)
Ex 5 (10 points)
Content Quiz (10 points)
Group Project: Relevant Costs (20 points)
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Chapter/Date
Activities/Assignments
Graded Assignments
Chapter 14
December 4
Statement of Cash Flows
Ex 1, 2, 7, 8
Ex 10 (10 points)
Connect: LearnSmart
Ex 13 (10 points)
Project: SOCF Ex 14 (15 points)
Chapter 15
December 6
Financial Statement Analysis
Ex 1, 10
Connect: LearnSmart
Review Chapters 12- 15
December 13
Final Exam: Exam 4:
Chapters 12-15 &
Comprehensive
Chapters 1-8 & 10
EXAM 4
Thursday, December 13: 8:00 – 9:50
NOTE: Schedule is subject to change and changes will be announced in class
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