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AC 315 Cost Accounting
DeMott, Beatrix


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.

Course

AC 315 Cost Accounting IN

Semester

S2J 2008 IN

Faculty

DeMott, Beatrix

Title

Adjunct Faculty

Degrees/Certificates

Webster University - Masters of Business & Administration
William Jewell College - Bachelor of Science - Accounting
University of Iowa - Bachelor of Arts - History/English Education

Office Location

Independence campus classroom

Office Hours

1/2 hour prior to class

Daytime Phone

816-795-9573    You may call me up until 8PM on Wednesday through Saturday and until 6PM on Sunday.  There is an answering machine available so please leave a message & I'll return your call.

Other Phone

I am NOT available Monday or Tuesday, day or evening

E-Mail

Beatrix.DeMott@park.edu

hcdemott@yahoo.com

Semester Dates

March 19, 2008 -May 13, 2008;    last withdrawal date:  Sunday April 22, 2008

Class Days

-M-----

Class Time

5:30 - 9:50 PM

Prerequisites

Pre-requisites AC202 or CS140.  See Park handbook.

Credit Hours

3


Textbook:
Cost Accounting Tradition & Innovations 6th edition Kinney/Prather-Kinsey/Raiborn -- The ISBN is 0324235011.

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

Current magazines & newspapers

Instructor  handouts

Publisher's website
http://www.thomsonedu.com/cengage/discipline.do?disciplinenumber=400
http://www.thomsonedu.com/cengage/catalog.do?courseid=AC06&disciplinenumber=400&codeid=261A#261A
http://www.thomsonedu.com
Thomson was bought by Cengage and they are in the process of changing website addresses.  I've included the ones currently known to me.

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.


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: <a href='index.aspx?Class=AC202'>AC202</a> or <a href='index.aspx?Class=CS140'>CS140</a>.  3:0:3

Educational Philosophy:
The main method of instruction  will be  lecture, class & group discussion, and home work assignments.   During the  course of the class, a number of exercises & problems will be demonstrated  as part of the learning process.   Student will work problems both in class and  at homework.  Student  participation is an essential part of the class. Please  bring  a pencil[s],paper, and calculator to class.  Laptop is permitted.  NO notebook paper is allowed for homework assignments.  Computer [Excel] or accounting paper is required.   Neither laptops nor cell phone calculators will not be allowed during tests.

Learning Outcomes:
  Core Learning Outcomes

  1. Prepare capital and operating budgets.
  2. Determine and account for manufacturing cost variances.
  3. Calculate and explain break-even points.
  4. Using various inventory methods, journalize manufacturing financial transactions.
  5. Compile financial statements for corporate


Core Assessment:

The test examines each learning outcome with 20 questions. Eighteen multiple-choice questions will be based upon a distribution of critical thinking concepts applied to a learning outcome. Two questions will examine a communication/writing component. Each question will be weighted as 5 points. 

Link to Class Rubric

Class Assessment:

Each student is required to attend class and  to  show up on time and to stay until the end of class.  

A.   Complete all  reading assignments before attending class on the  date noted in the section  labeled Course Topic/Dates/Assignments.   Assignment syllabus will be handed out the first night of class.  Definitions are important and may be included on the final test. Instructor reserves the right  to change assignments with notification to  the students.

B.  Midterm & Final & maybe a terminology exam & university prepared & provided exam which will be part of final.

C.  Complete all assignments including homework, midterm tests, and  final  exam on the date assigned.  Missing the due date for take  home test results in zero points.  Mail it,  fax it, request a friend to brings  it, but make sure a take home exam is turned in on time.  No exceptions and NO  make ups for  take home exams.

To receive full credit for homework assignments,  it must be turned in on time for full credit. You may fax or drop  off your homework at the school if you know you will be gone.  School fax number  is 816-252-4161.

 If you have an excused absence,  the homework is due the next  class meeting for full credit.  If  the absence is unexcused, the homework is  still due for reduced  credit.   For homework not handed in, there are alternative problems available for reduced credit.  It is the students  responsibility to inquire about alternative homework.  The later it is handed  in, the fewer points are available.   A listing of homework  problems will be distributed the first night of class.  Homework  is due the week after the chapter is reviewed in class. If  you get stuck on a problem, CALL.   

Don't spend hours on one problem  when a short call can put you on the path to finding the solution.  You may email me if you prefer.   Please realize that homework is important in  understanding accounting  and that you will be graded upon completing the  homework assignment. Computer generated homework is the preferred  format. There is a computer lab at Park University in Independence.  If you use Excel, make sure you show your calculations if the problem requires such.   Make a copy of your homework and turn the original in at the beginning  of each class.  Homework is reviewed every  class period.  Homework will not be accepted after it is reviewed  in class, but alternative problems are available.  

A study group is a great  method of brainstorming  and coming to an understanding.

D.   Each student is required to find an current article pertaining to Cost Accounting from a newspaper, magazine,  or Internet whose topic relates to anything covered in the Cost Accounting text. The article must be a full article and not a 2 inch blurb.   Write a brief review [one half to one typed page].  Then present  the article to the class.  No reading of the article to the class.     Do NOT use the Journal of Accountancy or similar  professional  magazine.   If  in doubt about an article, show the instructor prior to your week  of  presentation.  No duplication of articles or topics.
The object is to demonstrate  how often accounting  terminology & principals & knowledge  is used in every day writings.   Make a copy for each  student & the instructor.  State the source of  the article,  author, and date.   Sign up will be week 1 and that becomes your due date.  A separate instruction sheet will be distributed week 1 of class.

 E.  There will be a midterm exam and a final exam consisting of problems, maybe a terminology exam, and university provided exam. The in class portion of the midterm & final will be multiple choice.  If a take home exam is given, it will consist of problems.  No makeup exams for any take home test.

Grading:

Homework  -                                                                                                                       10 Points per problem
Decreased points for sloppy homework   
decreased points for alternate homework 
 decreased points for wrong answers. 
Homework is not accepted after reviewed in class;   

Attendance:   5 points  per class when present on time & stay to the end                                40 points      

 Class Participation:   5 points per class when present on time & stay to the end                     40 points   
If  you are not there, you can not participate.     

If you are absent [excused or unexcused], there are no points for attendance or participation.            

Article                                                                                                                             10 points                                             

 Extra Credit if offered;[due week 7]                                                                              15 points

Midterm                                  approximately 110-150 points  

 Final                                       approximately 110-150 points

Terminology Exam                   20-30 points    

Breakdown of points:          

 Attend & participate      15%       

 Homework                     42%       

 Tests                              42%       

Article                                 1%

 

Grading:      
90%       A      
80%       B      
 70%      C      
 60%      D

If extra credit is offered, it can not  raise your  grade higher than one level and will not be accepted  after its due date.

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business and Management courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business and Management.

Late Submission of Course Materials:

NO take home exam accepted late.  Fax it to Park, Independence or have a friend bring it.

Alternate homework accepted for decreased points. Late homework can earn the maximum of 8 points and less the later it is received from the due date. Article or review not presented on your chosen week is late & decreased points given.

Classroom Rules of Conduct:

CELL PHONES:  Cell  phones are a major  annoyance and a major convenience.  Turn them  OFF!  If you must leave your phone on, please turn it to mute  or vibrate or whatever setting your telephone  requires so that it does not disturb the class.  If you receive a call, leave  the  class room and go the school lobby or outside.  Do not stand  in the  hallway as that disrupts other classes.  

 

 ABSENT: If you know you will be absent,  please inform the instructor prior to  your absence.  You may  call the school [816-252-9065] to inform of absence.   Please do not email me or call me on the day of class as I do not always have access  to my  email or home telephone. If there is no notification, it is an unexcused absence.  Please  be on time for class.

Course Topic/Dates/Assignments:
Instructor reserves the right to change assignments with notification to students. An Assignment syllabus will be handed out the first night of class for the 8 week period.  

 

Week 1 Administrative remarks and Article sign up
Chapter 1 Read only
Chapter 2 Cost Terminology & Cost Behaviors
Chapter 3 Predetermine Overhead Rates, Flexible Budgets, and Absorption Variable Costing
 
Week 2
Chapter 4 Job Order Costing
Chapter 6 Process Costing
 
Week 3
Chapter 6 Process Costing
Chapter 7 Standard Costing and Variance Analysis
 
Week 4 Midterm - If the instructor determines a take home midterm will be given, it will be handed out either week 3 or week 4 and is due the following week.
Chapter 7 Standard Costing and Variance Analysis
Possibly start chapteer 8
 
Week 5
Chapter 8 Master Budget
Chapter 9 Break even Point and Cost-Volume- Profit Analysis
 
Week 6
Chapter 14 Capital Budgeting
Chapter 10 Relevant Information for Decision Making
 
Week 7
Chapter 5 Activity Based Management and Activity Based Costing
Chapter 17, pages 701-713 JIT
Chapter 16 Implementing Quality Concepts [this may become a read only chapter.]
Extra Credit, if offered, due; all makeup homework due.  

 Week 8 Final  

 

If school is canceled due to inclement weather, the homework assignments remain the same. At the next class meeting, a make up date will be determined.  

 

Changes may be made to the homework assignment[s] with notification to the class. If absent, extra problems may be assigned. Check your Park email as that is the main method of communication outside the classroom.  If there is a correction to a problem or I realize from talking with a student that additional information is needed, I use the Park email to inform the entire class.   

 

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 2007-2008 Undergraduate Catalog Page 85-86

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 2007-2008 Undergraduate Catalog Page 85
If you use a quote or idea in your article, please use foot or end notes.  For the article, list name of magazine, author, date.

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.
  3. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  4. 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 "F".
  5. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  6. 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.
  7. 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 2007-2008 Undergraduate Catalog Page 87-88
1.  Students are expected to attend all classes and be on time and stay for the entire class.  In  Cost Accounting it is very important not to miss a class as one chapter builds on the previous.  

2.  Absence & tardiness are a deterrent to academic achievement.  Classes missed for legitimate reasons  are excusable with prior notification.  

3.  Definition  of excused absence:
    Work
    Work related travel
    Sickness
    Death in family
    Other events  to be considered on an individual basis
   Proof may be required.

4.  No attendance or participation points given for excused or unexcused absences.

5.  If you miss one class, you have missed 12.5% of the learning.

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. 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 .



Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Evaluate and define accounting concepts identified by:                                                                                                                                                                                                     
Outcomes
1,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
Q1, Q4, Q8, Q12, Q15
100-80 %
 
Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
Q1, Q4, Q8, Q12, Q15
60-79%
 
Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
Q1, Q4, Q8, Q12, Q15
50-59%
 
Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
Q1, Q4, Q8, Q12, Q15
Less than 50%
 
Synthesize data to produce a logical flow of informational reporting  per established accounting rules and standards                                                                                                                                       
Outcomes
1,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Assemble the correct and ethical accounting treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
Q3, Q6, Q7, Q11, Q14
100-80 %
 
Assemble the correct and ethical accounting  treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
Q3, Q6, Q7, Q11, Q14
60-79%
 
Assemble the correct and ethical accounting  treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
Q3, Q6, Q7, Q11, Q14
50-59%
 
Assemble the correct and ethical accounting  treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
Q3, Q6, Q7, Q11, Q14
Less than 50%
 
Analysis of transactional data                                                                                                                                                                                                                             
Outcomes
1,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
100-80 %
 
Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
60-79%
 
Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
50-59%
 
Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
Less than 50%
 
Application of established rules and logic per regulatory and commercial standards                                                                                                                                                                         
Outcomes
2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Demonstrate and interpret cost accounting data and variance figures in order to produce accurate and useful Balance Sheets and Income Statements per Generally Accepted Accounting Principles
Q16, Q17, Q18
100-80 %
 
Demonstrate and interpret cost accounting data and variance figures in order to produce accurate and useful Balance Sheets and Income Statements per Generally Accepted Accounting Principles
Q16, Q17, Q18
60-79%
 
Demonstrate and interpret cost accounting data and variance figures in order to produce accurate and useful Balance Sheets and Income Statements per Generally Accepted Accounting Principles Q16, Q17, Q18
50-59%
 
Demonstrate and interpret cost accounting data and variance figures in order to produce accurate and useful Balance Sheets and Income Statements per Generally Accepted Accounting Principles
Q16, Q17, Q18
Less than 50%
 
Content of Communication written essay                                                                                                                                                                                                                     
Outcomes
2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to manufacturing cost variances
Question 20
100-80 %
 
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to manufacturing cost variances
Question 20
60-79%
 
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to manufacturing cost variances
Question 20
50-59%
 
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to manufacturing cost variances
Question 20
Less than 50%
 
Technical Skill in Communicating                                                                                                                                                                                                                           
Outcomes
3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions related to break-even analysis
Question 19
100-80 %
 
Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions related to break-even analysis Question 19
60-79%
 
Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions related to break-even analysis Question 19
50-59%
 
Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions related to break-even analysis
Question 19
Less than 50%
 
First Literacy Technical knowledge and application                                                                                                                                                                                                         
Outcomes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Student will demonstrate an intermediate level of accounting knowledge within the scope of AC 315 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
100-80 %
 
Student will demonstrate a intermediate level of accounting knowledge within the scope of AC 315 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
60-79%
 
Student will demonstrate a intermediate level of accounting knowledge within the scope of AC 315 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
50-59%
 
Student will demonstrate a intermediate level of accounting knowledge within the scope of AC 315 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
Less than 50%
 

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Last Updated:11/22/2007 4:26:18 PM