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AC 315 Cost Accounting
Corwin, Theodore


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

Semester

F1E 2007 PE

Faculty

Corwin, Theodore

Title

Senior Professor/Business

Degrees/Certificates

MBA/Business Management
Core Accounting/HRM

Office Location

ON-Line/Theodore.Corwin@Park.edu

Office Hours

Open via Email

Daytime Phone

760-966-1965 Message & Fax

E-Mail

Theodore.Corwin@park.edu

scapo@cox.net

Semester Dates

August 20th ---October 14th, 2007

Class Days

-M-W---

Class Time

7:30 - 10:10 PM

Prerequisites

AC202, CS140

Credit Hours

3


Textbook:

Cost Accounting A MANAGERIAL EMPHASIS   Author: Horngren  C. ,Datar S. and Foster G. 12th edition Person of Prentice Hall, ISBN 0-13-149590 or any student like edition.

Textbooks can be purchased through the MBS bookstore

Additional Resources:

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. PREREQUISITES: AC202 and CS140 3:0:3

Educational Philosophy:

Accounting has a need for on-hands application. Each student must experience the fundamental effort of problems solving and preparing the formal accountings presentations as they relate to a real world accounting solution. This can only be fully processed by the student through the use of timely homework assignments. These assignments come from the text book or the instructor own source. Each may be in the form of problems, exercises or cases. The goal  is; by making the effort to produce accurate and completed results. My vision is that I set the proper standards and help each student reach the necessary level of performance 

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


  Instructor Learning Outcomes
  1. Learn to see  present business production needs in there cost control application
  2. in all of the areas of service, wholesale, manufacturing and retailbusiness
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:

Grade exams, homework assignments, oral and written position papers, quizzes and activity analysis.

Grading:

Mid term and final examinations 250 points each     = 500 pts
Homework assignments. weekly,  ....................      = 240 pts / 8 weeks 30 pts each week
Position paper.oral and written........................       = 160 pts
Participation, team activities..........................       =  100 pts
 
Total grade points................................................= 1,000     

The final exam for all School of Business and Management courses must be passed with a grade of 60% or higher in order to pass the course regardless of the overall average.  The grade for students who pass the proctored final will be based on the overall average of homework and tests taken during the course.  The final exam must address only material which the student has been taught in class.

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 Associate Dean.

Classroom Rules of Conduct:
Students are expected to attend all scheduled class meetings and be present on time and for the full class periods. Each student brings to the class their own experiences, questions and interest, this helps produce an atmosphere of learning for all. absenteeism and tardiness, regardless of the cause, reduces academic achievement and may be disruptive. Classes missed will be recorded as absent and will have an effect on participation grade and can therefore effect your final grade. Any conduct that does not support a positive learning atmosphere will not be allowed. You are required to be in class with all necessary classroom tools; including class text books , pens, writing tools, note paper, calculators and any other supplies needed for your success. This also means that the reading of assignments should be done at the proper time (before the class meetings. Please exam the note taking system known as the "Cornell Note taking system" it is the best and can be found on line.

Course Topic/Dates/Assignments:

Week One read chapters 1, 2 & 3  

 

HW: Ch 1 problem 24 and 25  

 

Ch 2 exercises 16 ,17 and 21  

 

Ch 3 problems 30,31 & 35  

 

 

 

Week Two read chapters 4, 5 and 6  

 

HW: Ch 4 exercises 16,23,24 & 27  

 

Ch 5 problem 30  

 

Ch 6 problem 28  

 

Week Three read chapters 7, 8 and 9  

 

Hw: Ch 7 exercise 23 & 25  

 

Ch 8 problem 35  

 

Ch 9 problem 21 and 23  

 

 

 

Week Four read chapters 10, 11 & 12  

 

HW: Ch 10 problem 5 & 22  

 

Ch 11 problem 5 & 37  

 

Ch 12 "Get connected" exercise on pg 454  

 

Mid term test issued ASAP after the completion of above work  

 

 

 

Week Five read chapters 13 and 14  

 

HW: Ch 13 problems 19 & 31  

 

Ch 14 problems 16 & 27  

 

 

 

Week Six read chapters 15, 16 & 17 Oral presentations begin  

 

HW: Ch 15 problems 18 & 23  

 

Ch 16 problem 32  

 

Ch 17 problems 17,19,21 & 23  

 

 

 

Week Seven read chapters 18, 19 and 20  

 

HW: Ch 18 problems 18, 19 and 26  

 

Ch 19 problem 18  

 

Ch 20 problem 20 and 26  

 

 

 

Week Eight read chapter 21 Position paper due 1st day of class.  

 

HW: Ch 21 review self Study problem Part "A" only  

 

 

 

Final examination  

 

 

 

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

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

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:7/16/2007 12:22:19 PM