Credit Hours: 4 Lecture Hours: 4 Laboratory Hours: 0
Days and times the course meets: 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: 2011 ICN
Office phone:
E-Mail:
(309) 268-8571 karen.mitchusson@heartland.edu
Office hours: Monday 8:00 am – 9:00, Monday & Wednesday 11:00 -12:00, Tuesday &
Thursday 11:00am – 12:00, and other times by appointment
TEXTBOOK AND SUPPLIES:
Garrison, Ray H. 2010. Managerial Accounting, 14th Ed. McGraw Hill - Irwin.
Access Code to McGraw-Hill Connect 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
1.
Describe the role managerial accounting plays in planning, control, and decision making activities of a business.
2.
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.
3.
Prepare and analyze schedules of cost of goods manufactured and cost of goods sold in job-order costing systems.
4.
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.
5.
Compute, reconcile, interpret, and analyze absorption and variable costing methods and their application for financial reporting and managerial decision making.
6.
Assign and analyze costs utilizing the activity-based costing method as a decision making tool
7.
Create and analyze the interdependent budgets necessary to create a master budget with a pro-forma income statement and balance sheet.
8.
Measure and interpret the business implications of standard cost variances for material, labor and manufacturing overhead
9.
Identify, analyze and interpret relevant and irrelevant costs and benefits in various business decision making situations.
10.
Compute and evaluate the acceptability of investment projects utilizing capital budgeting and net present value tools
11.
Identify the basic concepts underlying just-in-time inventory procedures and analyze the impact the system has on cost management, planning, and decision making.
12.
Prepare, interpret and analyze a statement of cash flows.
13.
Interpret and analyze financial statements using various ratios and analyses techniques.
General
Education
Outcomes
PS2
CT2
PS2
CT2
PS2
CT1
PS2
CT2
PS2
CT2
PS2
CT1
PS1
CT2
PS2
CT2
PS2
CT2
PS2
CT2
PS2
CT1
Range of Assessment
Methods
Class activities
Quiz/Test questions
Class activities
Quiz/Test questions
Class activities
Quiz/Test questions
Class activities
Quiz/Test questions
Class activities
Quiz/Test questions
Class activities
Quiz/Test questions
Case project
Class activities
Quiz/Test questions
Class activities
Quiz/Test questions
Class activities
Quiz/Test questions
Case Project
Class activities
Quiz/Test questions
Class activities
Quiz/Test questions
Class activities
Quiz/Test questions
Case project
Class activities
Quiz/Test questions
2

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.
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

connect.mcgraw-hill.com
 utilize Connect program
 check HCC email every week and if you missed a class session
 check Connect every week and if you missed a class session
 access textbook website for additional resources
 actively participate in all group and course related activities
 request help as needed
 comply with course and college-wide policies


www.heartland.edu
www.mhhe.com/garrison14e
 be respectful of the instructor and the other students in the classroom
 communicate with instructor when you encounter difficulties with course materials
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
Connect
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.
Grading System :
Grades will be based on required assignments, quizzes, online assignments, group assignments, projects and exams. Students must have access to Connect program to complete required assignments.
% Measurement
Assignments, Quizzes, Problems, Projects,
Participation
Exams
40%
60%
Total 100%
Exam
Exam 1
Exam 2
Exam 3
Exam 4
Exam Material
Chapters 1 -3
Chapters 4-6
Chapters 7, 8 & 10
Chapters 12 - 15
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. No other extra credit is available for this course.

Please note that based on the above table that the majority of your grade is from exams during the semester

No exam grades will be dropped

All exams are required

The final is not comprehensive

The final exam is required and consists of the last chapters we cover

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.
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
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.
**THERE ARE NO ADDITIONAL EXTRA CREDIT
POINTS AVAILABLE IN THIS COURSE **
Grading Scale:
The grading scale used to determine course grade is as follows:
90 – 100% = A
80 – 89%
70 – 79%
= B
= C
60 – 69% = D
Below 60% = F
Policies on Assignments/Exams/Make-ups/Communication:
All graded work must be completed by the due dates announced in class or posted on the webpage to receive full credit. All Connect work must be submitted by 11:59pm on due date.
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. No in-class quizzes can be made up regardless of presence in class. There are content quizzes for each chapter and online and in-class quizzes. In determining your course grade, the lowest two quiz grades will be dropped .
Most chapters will have activities that are completed in class. You must be present during the class activity to receive the points for that activity.
Assignments required in Connect will be submitted online. The assignments must be completed by deadline announced in class and/or listed on the Connect page. In determining your course grade, the lowest connect assignment grade will be dropped .
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 quizzes or 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.
*** MAKEUP EXAMS WILL BE GIVEN ONLY AT THE DISCRETION
OF THE INSTRUCTOR. ***
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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 email or voice mail communication, please clearly state your name, course you are in, and how I can reach you.
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. In preparing for examination, it will be assumed 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.
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.
Group activities may 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.
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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Chapter/Date Activities/Assignments Graded Assignments
Getting Started
Getting
Started
August 23
Chapter 1
August 25
Chapter 2
August 30,
September 1
Chapter 3
September 6,
8, 13
Introduction, Syllabus, Connect
Demonstration & Registration, Website
Demonstration
Managerial Accounting: An Overview
Connect: LearnSmart
Global Market Assignment (10 points)
C1 Content Quiz (10 points)
C1 Online Quiz (10 points)
Managerial Accounting and Cost Concepts
Ex 1, 2, 3, 4, 5, 6, 7
Connect: LearnSmart
Ex 8 (20 points)
Ex 11 (15 points)
Ex 13 (10 points)
Content Quiz #1 (10 points)
Content Quiz # 2 (10 points)
C2 Online Quiz (10 points)
Job-Order Costing
Ex 1, 2, 4, 6, 7
Connect: LearnSmart
Review Chapters 1 -3
Statements (10 points)
E12 (10 points)
E19 (14 points)
Online Quiz (10 points)
Content Quiz #1 (10 points)
Content Quiz #2 (10 points)
Project Assignments (30 points)
September 15 Exam 1 Chapters 1 - 3 EXAM 1
Chapter 4
September 20,
22
Process Costing
Ex 1, 2, 3, 4, 5, 9
Connect: LearnSmart
Ex 7 (15 points)
Ex 10 (10 points)
Ex 13 (20 points)
Online Quiz (10 points)
Content Quiz #1 (10 points)
Content Quiz #2 (10 points)
Chapter 5
September 27,
29
Cost-Volume-Profit Relationships
Ex 1, 2, 3, 4, 5, 6, 7, 8, 9
Connect: LearnSmart
Ex 11 (12 points)
Ex 15 (10 points)
Online Quiz (10 points)
Content Quiz #1 (10 points)
Content Quiz #2 (10 points)
7

Chapter 6
October 4, 6,
11
Variable Costing and Segment Reporting: Tools for Management
Ex 1, 3, 4, 7 ,8, 16
Connect: LearnSmart
Exam Review Chapters 4-6
Ex 8 (12 points)
Ex 12 (20 points)
Online Quiz (10 points)
Content Quiz #1 (10 points)
Content Quiz #2 (10 points)
Exam 2 Chapters 4-6 EXAM 2 October 13
Chapter 7 Activity-Based Costing
October 18, 20 Ex 1, 2, 3, 4, 6, 9, 13
Connect: LearnSmart
Ex 5 (10 points)
Ex 11 (18 points)
Ex 17 (25 points)
Online Quiz (10 points)
Content Quiz #1 (10 points)
Content Quiz #2 (10 points)
Internet Research/Summary Paper (20 points)
Chapter 8 Profit Planning
October 25, 27 Ex 1, 2, 3, 4, 5, 6, 7, 8, 11
Connect: LearnSmart
Ex 10 (15 points)
Ex 12 (10 points)
Ex 16 (15 points)
Ex 20 (20 points)
Online Quiz (10 points)
Content Quiz #1 (10 points)
Content Quiz #2 (10 points)
Chapter 10 Standard Costs and Variances
November 1, 3 Ex 1, 2, 3, 4
Connect: LearnSmart
Review Chapters 7, 8 & 10
Ex 7 (10 points)
Ex 9 (15 points)
Online Quiz (10 points)
Content Quiz #1 (10 points)
Content Quiz #2 (10 points)
EXAM 3 November 8 Exam 3 Chapters 7, 8 & 10
Chapter 12 Differential Analysis
November 10,
15
Ex 1, 2, 3
Connect: LearnSmart
Chapter 13 Capital Budgeting Decisions
November 17,
22
Ex 1, 2, 7, 8
Connect: LearnSmart
Final Exam Review
Ex 5 (14 points)
Ex 7 (10 points)
Content Quiz #1 (10 points)
Ex 9 (10 points)
Ex 10 (10 points)
Content Quiz #1 (10 points)
8

Chapter 14 Statement of Cash Flows
November 29,
December 1
Ex 1, 2, 8
Connect: LearnSmart
Chapter 15 Financial Statement Analysis
December 6, 8 Ex 2, 13
Connect: LearnSmart
Review Chapters 12- 15
Ex 13 (20 points)
Online Quiz, (10 points)
Content Quiz #1 (10 points)
Ex 6 (10 points)
Content Quiz #1 (10 points)
December 15
Final Exam: Exam 4 Chapters 12-15
Thursday, December 15: 8:00 – 9:50
EXAM 4
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