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
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*
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
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
*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.
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 .
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