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AC 315 Cost Accounting
Castleman, Ronald


Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.
CourseAC 315 Cost Accounting WT
SemesterS1L2006
FacultyCastleman, Ronald
TitleAdjunct Faculty
Degrees/CertificatesBA
MBA
CPA
Office Location433 E Russell -- Warrensburg, MO
Office HoursBy appointment
Daytime Phone(660) 747-2721
Other Phone(660) 441-2033
E-MailR.Castleman@pirate.park.edu
castr@charter.nete
Semester DatesJanuary 9, 2006 - March 5, 200-6
Class DaysTuesdays and Thursdays
Class Time4:55 - 7:35 PM
PrerequisitesAC 202
Credit Hours3

Textbook:
Horngren, Foster, Datar; Cost Accounting, 12th Edition; Prentice Hall.

Additional Resources:
Student is expected to use the Internet during this learning process.  Certain exercises and problems are available online using www.prentall.com/hongren/cost12e.


Course Description:
A study of the basic principles of cost accounting applied to manufacturing, merchandising, and service businesses.  Emphasis is on various accepted cost methods such as job order, process, and standard cost system.   Pre-requisites: AC202 or CS140.  3:0:3

Educational Philosophy:
Each student is to be challenged to learn and increase his/her knowledge in accounting thorugh homework, class discussion, and the utilization of outside sources include the internet.

Learning Outcomes:

*Prepare capital and operating budgets.
----distinguish between direct and indirect costs.
----identify and precisely explain fixed and variable costs.
----differentiate between inventoriable and product costs.
----list the three cost components of a product.
----distinguish between a static and a flexible budget.
*Determine and account for manufacturing cost variances.
----calculate and explain variance analysis as relates to direct materials, direct labor, and overhead.
*Calculate and explain break-even points.
----draw a break-even chart
*Using various inventory methods, journalize manufacturing and finanical transactions.
----determine product cost and prepare necessary entries under FIFO, LIFO, and Weighted-Average methods of inventory.
----journalize the flow of products during the manufacturing process.
*Distinguish between job order and process cost accounting.
----calculate equivalent units of production
----determine the treatment relative to joint costs
----dtermine the treatment of by-products after spinoff.
*Compile financial stateements for corporate manufacturers.
*Using ratios and trends, analyze manufacturing financial statements.
*Read and comprehend written communication.

Course Assessment:
This course will include learning devices, examinations, and oral presentations.

Grading:
  250   Learning Devices
 375   Test #1
 425   Compresentive Final
  75   Class Participation
  50   Oral Presentations
  25   Hand in Assignment

1,200   Total Points for Course

Minimum grading plan will be
     90%  A
     80%  B
     70%  C
     60%  D
Below 60%  F  

You may arrance an appointment to discuss your grade.

Late Submission of Course Materials:
No work will be accepted late without prior permission.

Classroom Rules of Conduct:
Class attendance is expected.  Students are expected to spend a minimum of 40 hours classroom and teacher contact time; and, should circumstances require that you miss a class, you are expected to notify theinstructor and to complete the equivalent makeup work.  This includes learning what transpired during the missed classes.  Such may be accompulished by talking with the instructor, obtaining notes form a fellow student, having the class taped, etc.

DateChapterAssignments
Meeting - 1
January   10
 Open
Meeting - 2
         12
Chapter 222,25,27,28,29
Meeting - 3
         17
Chapter 2
Chapter 3
31,32,36,37
18,19,21
Meeting - 4
         19
Chapter 325,27,33,38,39,44, 48
Meeting - 5
         24
Chapter 419,23,27,34,37
Meeting - 6
         26
 Test #1
Meeting - 7
         31
 Open
Meeting - 8
February  2
Chapter 620,26,21,32
(#34 -- hand in)
Meeting - 9
February  7
Chapter 719,21,22,23
Meeting - 10
         9
Chapter 725,35,37,42
Meeting - 11
         14
Chapter 8
Chapter 9
19,28,26,35
20,28
Meeting - 12
         16
Chapter 1418,19,24,25
Meeting - 13
         21
Chapter 1719,20,21,22,24,25,
40
Meeting - 14
         23
Chapter 2122,24,28,29,34,35
Meeting - 15
         28
 Open
Meeting - 16
March      2  
 Final
Meeting - 17
  
Meeting - 18  

Academic Honesty:
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life.   Park University 2005-2006 Undergraduate Catalog Page 85-87

Plagiarism:
Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2005-2006 Undergraduate Catalog Page 85-87

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "WH".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2005-2006 Undergraduate Catalog Page 89

Disability Guidelines:

Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Park University is committed to meeting the needs of all learners that meet the criteria for special assistance. These guidelines are designed to supply directions to learners concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the American with Disabilities Act of 1990, regarding learners with disabilities and, to the extent of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page:
http://www.park.edu/disability
 
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Copyright:
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