...Course Outline School: Department: Course Title: Course Code: Course Hours/Credits: Prerequisites: Co-requisites: Eligible for Prior Learning, Assessment and Recognition: Originated by: Creation Date: Revised by: Revision Date: Current Semester: Approved by: Business Graduate Studies Accounting for Managerial Decision Making ACCT 701 56 N/A N/A Yes Basil Chan, John Harris Summer 2013 Geoffrey Prince Summer 2014 Winter 2015 Chairperson/Dean Students are expected to review and understand all areas of the course outline. Retain this course outline for future transfer credit applications. A fee may be charged for additional copies. This course outline is available in alternative formats upon request. ACCT 701 CENTENNIAL COLLEGE Accounting for Managerial Decision Making Course Description This course will introduce the student to the principles of management accounting. Topics include costvolume-profit relationships, relevant costing, performance measurement, and the application of management accounting concepts and techniques to support business decision making. Program Outcomes Successful completion of this and other courses in the program culminates in the achievement of the Vocational Learning Outcomes (program outcomes) set by the Ministry of Training, Colleges and Universities in the Program Standard. The VLOs express the learning a student must reliably demonstrate before graduation. To ensure a meaningful learning experience and to better understand...
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...ADM 335 ACCOUNTING II: MANAGERIAL ACCOUNTING COURSE DESCRIPTION Managerial accounting involves the use of economic and financial information to plan and control many of the activities of the business entity and to support the management decision-making process. The main objective of this course is to explore the relevant issues of cost accounting. Hence, this course examines the acquisition, analysis, and reporting of accounting information from the perspective of effective management decision making, with special emphasis on the planning and control responsibilities of practicing managers. It also familiarizes the student with an electronic spreadsheet package found in today’s business world. TOPICS Topics to be covered in this course: • • • • • • • • • • • • • Managerial Accounting—Definition and Perspective Cost Terms, Concepts, and Classifications Job-Order Costing Process Costing Cost Behavior Analysis Cost-Volume-Profit Relationships Profit Planning and Budgeting Standard Costs and Variance Reporting Flexible Budgets Segment Reporting and Profitability Relevant Costs for Decision Making Statement of Cash Flows Financial Statement Analysis STUDENT—1 ACCOUNTING II: MANAGERIAL ACCOUNTING This syllabus has been developed by the faculty of the College of Business and Management at Cardinal Stritch University. © 2014 Cardinal Stritch University Syllabus Control Number: 061614 STUDENT—2 ACCOUNTING II: MANAGERIAL ACCOUNTING INTRODUCTION SYLLABUS FORMAT This...
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...E-text Individual Assignments ACC/400 Week 2: E-text Individual Assignments Financial Accounting: Tools for Business Decision Making, 4th edition Chapter 8: Question 3 3. What are the essential features of the allowance method of accounting for bad debts? According to Kimmel, Weygandt, & Kieso (2007), the allowance method of accounting has three essential features: 1. Estimated uncollectible accounts receivable are matched against revenues within the same accounting period in which they are recorded. 2. Estimated uncollectibles are debited to Bad Debts Expense and credited to Allowance for Doubtful Accounts via an adjusting entry at the end of each period. 3. Actual uncollectibles are debited to Allowance for Doubtful Accounts and credited to Accounts Receivable at the time the specific account is written off as uncollectible. Chapter 8: Question 4 4. Lauren Anderson cannot understand why the cash realizable value does not decrease when an uncollectible account is written off under the allowance method. Clarify this point for Lauren. Cash realizable value does not change/decrease because the decrease in cash realizable value is when estimated uncollectibles are recognized/accounted for in an adjusting entry. Write-off of uncollectible accounts reduces accounts receivable and allowance for doubtful accounts by an equal amount. Chapter 8: Exercise E8-5 a) Determine the total estimated uncollectibles. |Age of Accounts ...
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...labour, overheads and sales variance), practical applications Budgeting and budgetary control mechanism Activity based costing, Responsibility Accounting Target costing Objective Objective of this course is to help student understand: 1. The essence of management accounting-effective use of the accounting information for planning, control and business decision making. 2. To use cost accounting as a managerial tool for business strategy and implementation. 3. To understand analyse the costing tools and their business application for enhancing revenue and profitability of a firm,. 4. To analyse various aspects of costing such as, marginal costing, absorption costing, allocation of costs, standard costing and variance analysis, activity based costing, target costing etc. 5. To understand the process of decision making, planning and budgeting in a business organisation. Pedagogy Lectures Discussions on case studies Term Projects and presentations Discussion and presentation on published research papers on related topics. Text book: Management Accounting: Paresh Shah, OXFORD UNIVERSITY Press, Edition, Eighth impression 2012. Reference Books: 1. Managerial Accounting, by James Jiambalvo, third edition, pub. Wiley 2. Management Accounting, M Y Khan & P K Jain, Pub. Tata McGraw-Hill 3. Managerial Accounting, Ronald W Hilton/ G Ramesh Pub.Tata McGraw Evaluation and Weightage (Total 100 Marks) Class Quiz : 10 Marks Class Assignment...
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...Syllabus, Aderhold Room 204, 4:30-7pm, Wednesday, Spring, 2010 MANAGEMENT ACCOUNTING This course introduces you to a select set of topics on managerial decision-making and control, including basic cost concepts, inventory process systems, budgeting, performance measures, segments and transfer pricing. We will examine the current practices of these elements of managerial control in decentralized business organizations and conceptual issues related to designing effective managerial decision-making and control systems. The general aim of this course is to help you develop a basic but solid understanding of how management systems function, and to help you to develop a conceptual framework for critically analyzing managerial control systems. Students are expected to recognize and uphold standards of intellectual and academic integrity. The University Policy on Academic Honesty is explained in detail in the student handbook On Campus and is available online at www.gsu.edu/oncampus. The course syllabus and class schedule provides a general plan for the course; deviations may be necessary. Attendance – Each student is expected to attend all scheduled class meetings for the entire duration of the class. Most students will find MBA 8115 to be very demanding. Poor attendance will almost certainly result in poor course performance. Exams – There will be three exams, each covering specified chapters. Exams may contain any content contained in the reading assignments, homework...
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...Chapter 1 Managerial Accounting and the Business Environment Solutions to Questions 1-1 Managerial accounting is concerned with providing information to managers for use within the organization. Financial accounting is concerned with providing information to stockholders, creditors, and others outside of the organization. 1-2 Essentially, managers carry out three major activities in an organization: planning, directing and motivating, and controlling. All three activities involve decision making. 1-3 The Planning and Control Cycle involves formulating plans, implementing plans, measuring performance, and evaluating differences between planned and actual performance. 1-4 A line position is directly related to the achievement of the basic objectives of the organization. A staff position is not directly related to the achievement of those objectives; rather, it is supportive, providing services and assistance to other parts of the organization. 1-5 In contrast to financial accounting, managerial accounting: (1) focuses on the needs of the manager; (2) places more emphasis on the future; (3) emphasizes relevance and flexibility, rather than precision; (4) emphasizes the segments of an organization; (5) is not governed by GAAP; and (6) is not mandatory. 1-6 A number of benefits accrue from reduced setup time. First, reduced setup time allows a company to produce in smaller batches, which in turn reduces the level of inventories. Second, reduced setup time allows a company to spend...
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...ACC 300 Entire Course To purchase this Tutorial click below link : http://homeworkgallery.com/index.php/product/acc-300-entire-course-2/ ACC 300 Week 1 – Individual Assignment – Chapter Two – Brief Exercises. ACC 300 Week 1 Individual Assignment Chapter 2: Brief Exercises BE2-8, BE2- 9, and BE2-10 ACC 300 Week 2 – Learning Team Assignment. In this excel file ACC 300 Week 2 Learning Team Assignment you will find overview of the following sheets: 1. Demonstration Case 2-1 2. Given Data DC2-1 3. Simplify with Spreadsheets 2-1 4. Given Data SS2-1 5. Coached Problem 2-1 6. Given Data CP2-1 7. Problem A 2-1 8. Given Data PA 2-1 ACC 300 week 2 dqs. What are the different bases of accounting? When would you use the cash basis? Accrual basis? Tax basis? Which one is better? Why? What are the financial statements? What does each one tell you? Which financial statement is more important? Why? How are the financial statements related? Why do these relationships exist? What is the impact of a miscalculation in the income statement on other financial statements? ACC 300 Week 3 – Individual Assignment Part I. In the work ACC 300 Week 3 Individual Assignment Part I you will find overview of the following parts: 1. Cash Basis – Income Statement 2. Accrual Basis – Income Statement ACC 300 Week 3 – Individual Assignment Part II. In this file ACC 300 Week 3 Individual Assignment Part II you will find overview of the following tables: ...
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...wiL1084x_fm_i-xxiv_1.indd Page i 1/10/11 7:53:00 PM user-f499 /Users/user-f499/Desktop/Temp Work/Don't Delete Job/MHBR231:Wild:203 Managerial Accounting John J. Wild University of Wisconsin at Madison Ken W. Shaw University of Missouri at Columbia 3 rd edition wiL1084x_fm_i-xxiv_1.indd Page ii 1/10/11 9:14:31 PM user-f499 /Users/user-f499/Desktop/Temp Work/Don't Delete Job/MHBR231:Wild:203 To my students and family, especially Kimberly, Jonathan, Stephanie, and Trevor. To my wife Linda and children, Erin, Emily, and Jacob. MANAGERIAL ACCOUNTING Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Copyright 2012, 2010, 2007 by The McGraw-Hill Companies, Inc. All rights reserved. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 3 2 1 ISBN 978-0-07-811084-9 MHID 0-07-811084-X Vice president and editor-in-chief: Brent Gordon Editorial director: Stewart Mattson Publisher: Tim...
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...CHAPTER 1 MANAGERIAL ACCOUNTING IN THE INFORMATION AGE CHAPTER Introduction FINANCIAL ACCOUNTING STRESSES ACCOUNTING CONCEPTS AND PROCEDURES THAT RELATE TO PREPARING REPORTS FOR EXTERNAL USERS OF ACCOUNTING INFORMATION. IN COMPARISON, MANAGERIAL ACCOUNTING STRESSES ACCOUNTING CONCEPTS AND PROCEDURES THAT ARE RELEVANT TO PREPARING REPORTS FOR INTERNAL USERS OF ACCOUNTING INFORMATION. THIS CHAPTER PROVIDES AN OVERVIEW OF THE ROLE OF MANAGERIAL ACCOUNTING IN PLANNING, CONTROL, AND DECISION MAKING. IT ALSO DEFINES IMPORTANT COST CONCEPTS AND INTRODUCES KEY IDEAS THAT WILL BE EMPHASIZED THROUGHOUT THE TEXT. THE CHAPTER CONCLUDES WITH A DISCUSSION OF THE INFORMATION AGE AND THE IMPACT OF INFORMATION TECHNOLOGY ON BUSINESS, A FRAMEWORK FOR ETHICAL DECISION-MAKING AND THE ROLE OF THE CONTROLLER AS THE TOP MANAGEMENT ACCOUNTANT. NOTE THAT YOU CAN ENHANCE AND TEST YOUR KNOWLEDGE OF THE CHAPTER USING WILEY’S ONLINE RESOURCES, THE SELF-ASSESSMENT QUIZ AND REVIEW PROBLEMS AT THE END OF THE CHAPTER. Objectives, Terms, and Discussions LO1 State the primary goal of managerial accounting. GOAL OF MANAGERIAL ACCOUNTING Managers need to plan and control their operations and make a variety of decisions. The goal of managerial accounting is to provide the information managers need for planning, control, and decision making. LO2 Describe how budgets are used in planning. Planning A plan communicates a company's goals to employees and specifies the resources needed...
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...ACC 300 Entire Course http://homeworkgallery.com/index.php/product/acc-300-entire-course-2/ http://homeworkgallery.com/index.php/product/acc-300-entire-course-2/ ACC 300 Week 1 – Individual Assignment – Chapter Two – Brief Exercises. ACC 300 Week 1 Individual Assignment Chapter 2: Brief Exercises BE2-8, BE2- 9, and BE2-10 ACC 300 Week 2 – Learning Team Assignment. In this excel file ACC 300 Week 2 Learning Team Assignment you will find overview of the following sheets: Demonstration Case 2-1 Given Data DC2-1 Simplify with Spreadsheets 2-1 Given Data SS2-1 Coached Problem 2-1 Given Data CP2-1 Problem A 2-1 Given Data PA 2-1 ACC 300 week 2 dqs. What are the different bases of accounting? When would you use the cash basis? Accrual basis? Tax basis? Which one is better? Why? What are the financial statements? What does each one tell you? Which financial statement is more important? Why? How are the financial statements related? Why do these relationships exist? What is the impact of a miscalculation in the income statement on other financial statements? ACC 300 Week 3 – Individual Assignment Part I. In the work ACC 300 Week 3 Individual Assignment Part I you will find overview of the following parts: Cash Basis – Income Statement Accrual Basis – Income Statement ACC 300 Week 3 – Individual Assignment Part II. In this file ACC 300 Week 3 Individual Assignment Part II you will find overview of the following tables: ...
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...GRAZIADIO SCHOOL OF BUSINESS AND MANAGEMENT PROFESSOR CHUCK MCPEAK MBAM-601.13 ACCOUNTING FOR DECISION MAKERS FALL 2006 WENESDAY 8-12 AM MALIBU SYLLABUS ACCOUNTING FOR DECISION MAKERS MBAM-601.13 FALL 2006 Wednesday 8-12 AM Malibu Chuck McPeak 217 23rd St. Manhattan Beach CA 90266 Office (310) 506-4879 Home (310) 545-6921 FAX (310) 546-7671 Email cmcpeak@pepperdine.edu Course Description The primary emphasis of this study is to place sophisticated tools and techniques in the hands of primary users in making business decisions. Specific topics include cost behavior analysis, cost management systems, relevant cost analysis, performance measurement, and value-based management control systems. The course also includes presentations in teams whereby the students apply the course material. Course objectives At the conclusion of this course the student should be able to communicate cost information orally and in writing and should demonstrate managerial level analysis and decision making in the following areas: 1.Cost-Profit-Volume Analysis 2.Master budgeting 3.Relevant revenues 4.Management control systems 5.Performance measurement 6.Activity based costing 7.Job order costing 8.Ethical issues and the impact of Sarbanes-Oxley 9.The use of production data and information technology to solve business problems Text and Course Materials 1.Horngren, Foster & Datar “Cost Accounting A Managerial Emphasis”, Twelfth Edition, Prentice Hall, 2006 2.Harvard Business School Case 9-198-117...
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...ACCOUNTING 525: MANAGERIAL ACCOUNTING Winter Quarter 2003 INSTRUCTOR: Professor D. L. Jensen 428 Fisher Hall 292-2529 at office (Please leave recorded message; if I'm not in, I'll return your call.) jensen.7@osu.edu (I check my e-mail several times daily and will respond ASAP) OFFICE HOURS: By appointment or chance STUDENT ASSISTANT: Ms. Yun Jin (jin.81@osu.edu) REQUIRED TEXT AND SUPPLEMENTARY MATERIALS: Horngren, Foster and Datar, Cost Accounting: A Managerial Emphasis, 11th edition, Prentice-Hall, 2003 (abbreviated H) (ISBN 0-13-064815-9) Supplementary materials (abbreviated [S]) are sold in a package by CopEz (Tuttle Store). Some supplementary items may be distributed in class or made available on the Internet. COURSE OBJECTIVES: The objectives of this course are to develop your understanding and critical facility in the application of measurement and analytical constructs employed in management accounting and your understanding of the organizational context of management accounting. COURSE METHOD: The course is organized around a textbook, supplementary materials, lectures, and in-class exercises and discussion. Written assignments include homework problems, in-class quizzes, and examinations. HOMEWORK PROBLEMS Assigned homework problems should be prepared prior to the class for which they are assigned; most homework will be discussed during that class, and students are encouraged to annotate their homework papers during class. Homework will be collected...
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...Chapter 6 Cost-Volume-Profit Relationships Solutions to Questions 6-1 The contribution margin (CM) ratio is the ratio of the total contribution margin to total sales revenue. It can be used in a variety of ways. For example, the change in total contribution margin from a given change in total sales revenue can be estimated by multiplying the change in total sales revenue by the CM ratio. If fixed costs do not change, then a dollar increase in contribution margin will result in a dollar increase in net operating income. The CM ratio can also be used in break-even analysis. Therefore, knowledge of a product’s CM ratio is extremely helpful in forecasting contribution margin and net operating income. 6-2 Incremental analysis focuses on the changes in revenues and costs that will result from a particular action. 6-3 All other things equal, Company B, with its higher fixed costs and lower variable costs, will have a higher contribution margin ratio than Company A. Therefore, it will tend to realize a larger increase in contribution margin and in profits when sales increase. 6-4 Operating leverage measures the impact on net operating income of a given percentage change in sales. The degree of operating leverage at a given level of sales is computed by dividing the contribution margin at that level of sales by the net operating income at that level of sales. 6-5 The break-even point is the level of sales at which profits are zero. It can also be defined as the point where total revenue...
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...CHAPTER 14 Managerial Accounting ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1 A Problems B Problems Study Objectives *1. Explain the distinguishing features of managerial accounting. Identify the three broad functions of management. Define the three classes of manufacturing costs. Distinguish between product and period costs. Explain the difference between a merchandising and a manufacturing income statement. Indicate how cost of goods manufactured is determined. Explain the difference between a merchandising and a manufacturing balance sheet. Identify trends in managerial accounting. Prepare a worksheet and closing entries for a manufacturing company. Questions 1, 2, 3 Do It! 1 Exercises 1 *2. 4, 5, 6, 7, 8 11, 12 2, 3 1 *3. 4, 5, 7 2 2, 3, 4, 5, 6 3, 4, 5, 7, 13 8, 12, 13, 14, 15, 17 1A, 2A 1B, 2B *4. 13 6 2 1A, 2A 1B, 2B *5. 9, 14 3A, 4A, 5A 3B, 4B, 5B *6. 15, 16, 17, 18 8, 10, 11 3 8, 9, 10, 11, 12, 13, 14, 15, 16, 17 14, 15, 16, 17 3A, 4A, 5A 3B, 4B, 5B *7. 10, 19, 20, 21 9 3A, 4A 3B, 4B *8. 22, 23, 24 25, 26 27, 28, 29 12 4 18 *9. 19 6A *Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendix to the chapter. Copyright © 2011 John Wiley & Sons, Inc. Kimmel, Accounting, 4/e, Solutions Manual (For Instructor Use Only) 14-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number 1A Difficulty Level Simple Time Allotted (min.) 20–30 Description Classify manufacturing costs into different...
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...The exam is closed book and no notes. This is testing basic managerial accounting knowledge that everyone should know and understand to be able to add value to any type of organization. Make sure you bring a calculator. Please feel free to ask questions about the review sheet if you do not understand what I am asking. You will also have access to the answers to the online quizzes you have taken, so I would review these quizzes. The textbook website has interactive quizzes that you can take at the textbook website and get instant feedback, so that would probably be a good review process. Also, make sure you review the exercises I have set out below by the problem explanations. You have access to the partial chapter solutions in the course resources area after we have covered a chapter, so make sure you are solving the exercises correctly. You can definitely do well on this exam if you study. If you get to a problem on the test and feel confused, try to put something down so you might earn partial credit. If you understand the review sheet, you should do well on the exam. 25 Multiple choice 2 pts. each 1. Understand what Financial and Management accounting are? 2. What are the differences among Manufacturing, merchandising, and service companies? 3. How do you compute COGM, COGS, and operating income and what do these figures represent? 4. What are prime and conversion costs? 5. What is customer-profitability analysis? 6. Understand how changes in volume...
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