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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
SemesterS1L2005
FacultyCastleman, Ronald
TitleAdjunct Faculty
Degrees/CertificatesBA
MBA
CPA
Office Location433 E Russell -- Warrensburg, MO  64093
Office HoursBy appointment
Daytime Phone(660) 747-2721
Other Phone(660) 747-2033
E-MailR.Castleman@pirate.park.edu
castr@charter.net
Semester DatesJanuary 10, 2005 - March 5, 2005
Class Days--T-R--
Class Time7:45 - 10:15 PM
PerquisitesPrinciples of Accounting II -- AC 202
Credit Hours3

Textbook:
Horngren, Foster, Datar; COST ACCOUNTING; 11th edition; Prentice Hall.

Additional Resources:
Student is expected to use the Internet during this learning process.  The specific site is  www.prenhall.com/horngren for studying, tutorial, etc.
Additionally, the student is expected to be aware of current rulings and events that will have an impact on the area of Cost Accounting.

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:
Teaching techniques will include lecture, homework problems, class participation, self-study, and computer applications.  

Learning Outcomes:
A.  To distinguish between direct and indirect costs.
B.  To identify and precisely explain fixed and variable   costs.
C.  To list the three cost components of a product.
D.  To differentiate between inventoriable and product costs.
E.  To calculate and explain Cost-Volume-Profit relationships and the under-lying assumptions and limitations.
F.  To draw and explain a breakeven chart.            G.  To explain the difference between job order and process costing, including explaining when and under what conditions each system is appropriated.
H.  To prepare a comprehensive budget and other relative budgets.
I.  To explain responsibility accounting as it relates to controllability of costs.
J.  To distinguish between a static and a flexible budget.
K.  To explain and calculate variance analysis as relates to materials, labor, and overhead.
L.  To identify features related to a standard cost accounting system including the strengths and weaknesses thereof..
M.  To allocate joint costs and treating by-products after spinoff.
N.  To calculate equivalent units of production.
O.  To determine product cost utilizing process cost accounting under FIFO, LIFO, and Weighted-Average methods of inventoring.
P.  To prepare journal entries to cost accounting systems.
Q.  To read and comprehend written communication

Course Assessment:
Students are expected to attempt all homework by the date due.  Failure to timely attempt homework will adversely affect the class participation portion of your grade.  You are expected to complete any term project in a professionally academic manner.  Unexcused tardiness or unexcused class absence will adversely affect your class participation score, too.

Grading:
Your final grade in this course will be determined using the following                                              measurements:
                                                 
   Test 1 250
   Test 2 250
   Class Participation         50
   Learning Devices            125  
Total                           675    
Minimum Grading Scale

      A   =   90%
      B   =   80%
      C   =   70%
      D   =   60%
      F   =   59% and lower


You may arrange an appointment to discuss your grade.

Late Submission of Course Materials:
Students are expected to attempt all homework by the date due.  Failure to timely attempt homework will adversely affect the class participation portion of your grade.  You are expected to complete any term project in a professionally academic manner.  Unexcused tardiness or unexcused class absence will adversely affect your class participation score, too.  No work will be accepted late without prior written approval.  

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 required that you miss a class, you are expected to complete the equivalent make-up work.  This includes learning what transpired during the missed classes.  Such may be accomplished by talking with the instructor, obtaining the notes from a fellow student, having the class taped, etc.

Course Topic/Dates/Assignments:
Date Chapter Homework*
January    
11       ----- None
13    2 16, 18, 24, 27, 34
18 25(1), 28, 35, 36
20    3 16 (in class), 18, 19, 20
25 21, 25, 31
27    4 19, 23, 27, 26 (2 & 3), 36

February
01 open
03 Test #
08 6 17, 18, 19, 20, 21,
10 6&7 25, 27 ----- 16, 17, 18,
15 19, 20, 21, 25, 27
17 8 16, 19, 22, 26
22 10&16 16  ----- 16, 18, 31
24 17 16, 17, 18, 19, 20, 21

March
01 Open
03 Final


*All homework is exercises unless specified.

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 2004-2005 Undergraduate Catalog
Page 101

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 2004-2005 Undergraduate Catalog
Page 101

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 2004-2005 Undergraduate Catalog Page 100


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 .

Copyright:
This material is copyright and can not be reused without author permission.