Brandeis University The International Business School Bus 14a MANAGERIAL ACCOUNTING Spring 2014 Instructor: Dr Richard L Keith Phone: 781-837-6539 (24 hour voice mail) Office hours: After class and by appointment email: RLKeith@AOL.com Teaching Assistant: TBA PURPOSE AND OBJECTIVES: The purpose of this course is to provide a general introduction to the concepts, problems and issues related to managerial accounting. Managerial accounting predominantly addresses the internal use of economic information regarding the resources used in the process of producing goods and providing services. Internal users of accounting information are all of those individuals that are involved in the business decision-making process of the economic entity. In the course, you will become acquainted with some of the conventional methods of internal reporting used in planning, control and decisionmaking. Fundamental aspects of cost behavior and cost accounting will also be discussed, but always from the perspective of the manager who must make decisions rather than the accountant who prepares the information. LEARNING GOALS: Upon completion of this course, the student will be able to (1) understand the nature of product and service cost measurement and behavior, (2) analyze costs using cost/volume/profit analysis, (3) employ a number of cost allocation techniques, (4) analyze a variety of short term business problems (outsourcing, special orders, etc.), (5) evaluate the costs/benefits associated with capital budgeting problems, and (6) prepare and analyze budgets and variance reports. TEXTBOOK: Managerial Accounting, Garrison, Noreen and Brewer, 14th Edition (McGraw Hill/ Irwin) Also available in electronic format on the web at coursesmart.com and in loose leaf format, Please make sure that you purchase the 14th edition and not the International edition. GENERAL POLICIES: HOMEWORK: In an accounting class, keeping up with assigned homework problems on the syllabus is critical to your success. If you do not take the time to challenge yourself and struggle with the issues in each problem, you will, in all likelihood, perform very poorly on the exams. Homework will be collected on a surprise basis. EXAMS: THERE WILL BE NO MAKE-UP EXAMS. There will be absolutely no opportunity to assign the weight of a missed exam to another exam. If you miss an exam, you will receive a grade of zero. Therefore, please make every effort in advance to insure that you will be in attendance on the exam dates shown on the syllabus. CLASS PARTICIPATION: Students are expected to attend all class sessions and to actively participate in class discussions. Class participation involves being regularly engaged in the discussion/lecture and making a positive contribution by asking thoughtful questions, sharing relevant experiences, requesting clarification and making comments. All forms of participation should be conducted in a manner that is respectful of fellow students and the professor. Academic Integrity: Academic integrity is central to the mission of educational excellence at Brandeis University. Each student is expected to turn in work completed independently, except when assignments specifically authorize collaborative effort. It is not acceptable to use the words or ideas of another person- be it a world-class philosophers or your lab partner - without proper acknowledgement of that source. This means that you must use footnotes and quotation marks to indicate the sources of any phrases, sentences, paragraphs or ideas found in published volumes, on the internet, or created by another student. Violations of university policies on academic integrity, described in Section 3 of Rights and Responsibilities, may result in failure in the course or on the assignment, and could end in suspension from the University. If you are in doubt about the instructions for any assignment in this course, you must ask for clarification. Notice: If you have a documented disability on record at Brandeis University and require accommodations, please bring it to the instructor’s attention prior to the second meeting of the class. GRADING: Highest Exam Middle Exam Lowest Exam Class Participation/Homework Total 35% 25% 25% 15% 100% READINGS & ASSIGNMENTS (assignments as shown are due for the following class) Selected cases shown on the course schedule that are not in the text will be distributed by the instructor. (TENTATIVE) Date Topic Assignment 1/13 Introduction to Managerial Accounting Corporate Governance 1/15 Introduction to Cost Concepts Chapter 2 1/20 No Class 1/22 Cost Concepts 1/27 Job Order Costing Read Chapter 1 and Appendix A E2-1,2,3,4,5,6,7,8,12 P2-14,15,16,17 Case: 2-25 Mapleleaf Sweepers Chapter 3 E3-5,7,12,13,15,19,20: 1/29 Over/under application 2/3 Process Costing Chapter 4 E4-6,7:P4-13 2/5 Cost Allocation Chapter 4 Case 4-20 Durall Co. Appendix B 4B-3,4 2/10 2/12 P3-21,24,25,27,28 Case 3-29 Lenko Products First Examination 2/17 to 2/21 Mid Term Recess 2/24 Cost Volume Profit Relationships Chapter 5 2/26 CVP continued 3/3 Variable Costing 3/5 Segment Reporting 3/10 Activity Based Costing Chapter 7 E7-2,7,8,12:P7-18 3/12 Profit Planning Chapter 8 E8-1, 13, 15:P8-19 3/17 Flexible Budgets Chapter 9 E9-4,9,10,11,12,13 3/19 Performance Analysis 3/24 Second Examination 3/26 Standard Costs and Variances 3/31 Standard costs continued E10-6:P10-9,10, 4/2 Performance Measurement Chapter 11 E10-11,13 Case 10-17 4/7 Transfer Pricing E11-7,8 4/9 Transfer Prices 4/14 Differential Analysis E5-7,9,10,14,18 P5-19,20,22,26,29 Chapter 6 E6-1,7,11, 12 E6-14,15 P9-22 Chapter 10 Appendix A E11A-1,2,3 Chapter 12 E12-2,3,4,5,7 4/16 & 4/21 Passover and Spring Break 4/23 Capital Budgeting Chapter 13 4/28 Income Taxes in Appendix C E13-2,3,5,10:P13-26,29 Capital Budgeting Final Exam TBD 13C-2,3,4