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AC 315 Cost Accounting
Lampton, Jolene A.


Mission Statement: Park University provides access to a quality higher education experience that prepares a diverse community of learners to think critically, communicate effectively, demonstrate a global perspective and engage in lifelong learning and service to others.

Vision Statement: Park University, a pioneering institution of higher learning since 1875, will provide leadership in quality, innovative education for a diversity of learners who will excel in their professional and personal service to the global community.

Course

AC 315 Cost Accounting

Semester

S1T 2013 DL

Faculty

Lampton, Jolene A.

Title

Assistant Professor of Management Accounting

Degrees/Certificates

Ph.D. in Higher Education
MBA in Business Administration and BSE in Business Education
CPA (licensed in Texas and Missouri)

Office Location

Austin campus

Office Hours

Monday/Wednesday 3 - 5 p.m.

Daytime Phone

512-385-7275 (Ex. 5711) Office

Other Phone

512-338-8155 (Home)

E-Mail

jolene.lampton@park.edu

jlampton@att.net

Semester Dates

January 14, 2013 - March 9, 2013

Class Days

TBA

Class Time

TBA

Prerequisites

AC202 and CS140

Credit Hours

3


Textbook:

Cost Accounting by Charles T. Horngren
14th edition with MyAccountingLab (MAL)
ISBN #1256892971
Published by Pearson Prentice Hall
Students will be provided with an Access Code from Pearson for MAL

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville 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/.
Advising - Park University would like to assist you in achieving your educational goals. Please contact your Campus Center for advising or enrollment adjustment information.
Online Classroom Technical Support - For technical assistance with the Online classroom, email helpdesk@parkonline.org or call the helpdesk at 866-301-PARK (7275). To see the technical requirements for Online courses, please visit the http://parkonline.org website, and click on the "Technical Requirements" link, and click on "BROWSER Test" to see if your system is ready.
FAQ's for Online Students - You might find the answer to your questions here.


Course Description:
AC315 Cost Accounting: 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 a job order, process, and standard cost system. Prerequisite: AC202 and CS 140 3:0:3

Educational Philosophy:
Instructor will facilitate a meaningful, substantive class in Cost Accounting.  Students are expected to do their part by reading the chapters, participating in class discussions, working both practice and homework problems, completing the quizzes, taking tests, and completing the research project in CVP.  Indeed, this is a busy class.  The instructor will help in any way possible if students do their part.  The instructor is available by email or by phone if needed.  Together with instructor and students, it is hoped that this class will be productive and meaningful for students.

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:
Examinations, quizzes, CVP presentation, 45 practice problems, 5 homework problems, discussion thread postings.

Grading:

45 Practice Problems @ 5 points each                       225 points
5 Homework Problems @ 20 points each                  100 points
12 Discussion Threads @ 5 points each                      60 points
12 Quizzes (1 per chapter) @ 10 points                     120 points
Mid-Term Examination                                              130 points
Final Examination                                                       300 points
TOTAL POINTS                                                       1000 points
 

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 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.

Late Submission of Course Materials:
Only with instructor permission.

Classroom Rules of Conduct:
Professional demeanor expected.

Course Topic/Dates/Assignments:
 

Week 1

Chapter 2 An Introduction to Cost Terms and Purposes (Days 1 – 3)

Practice Problems 2-16, 2-33*, 2-34, 2-36

*Designated as Practice Quiz 2

Quiz Chapter 2

Homework 2-39 (Submit to dropbox by Day 3 midnight)

Chapter 3 Cost-Volume-Profit Analysis (Days 4 – 7)

Practice Problems 3-17- 3-21, 3-28*

*Designated as Practice Quiz 3

Quiz Chapter 3

Homework 3-49 (Submit to dropbox by Day 7 midnight)

Week 2

Chapter 4 Job Costing (Days 8 – 10)

Practice Problems 4-18, 4-19, 4-21, 4-24, 4-25, 4-27

Quiz Chapter 4

Chapter 5 Activity-Based Costing and Activity-Based Management (Days 11 – 14)

Practice Problems 5-16, 5-18, 5-24

Homework 5-40 (Submit to dropbox by Day 14 midnight)

Quiz Chapter 5

Week 3

Chapter 6 Master Budget and Responsibility Accounting (Days 15 – 17)

Practice Problems 6-17, 6-18, 6-19, 6-20, 6-27*, 6-38*

*Designated as Practice Quiz 6

Quiz Chapter 6

Chapter 7 Flexible Budgets, Direct-Cost Variances, and Management Control (Days 18 – 21)

Practice Problems 7-16, 7-18, 7-30

Quiz Chapter 7

Week 4

CVP Application and Visual Aid (65 points)

Students should apply cost-volume-profit principles to a situation either in their work or personal life. The methodology should be justified in appropriate fashion – in writing in a paper which utilizes the break-even formula or with other documentation, such as a visual aid of the student’s findings which can be prepared for showing to the class in an asynchronous presentation of the student’s application. The PPT or written paper must show and explain the break-even formula used in the CVP application and Visual aid. A PPT (or written paper) can be shown as an asynchronous medium that is available for viewing by Wednesday of Week 4. Students should post one peer review/critique of another student’s work in the Discussion Thread provided.   Points: 65 points possible. 

Mid Term Exam (Chapters 2 - 7) To be completed by Sunday midnight of Week 4. 2 hour limit.

Week 5

Chapter 10 Determining How Costs Behave

Practice Problems 10-17, 10-18, 10-23, 10-24

Homework 10-32 (Submit to dropbox by Day 31 midnight)

Quiz Chapter 10

Chapter 11 Decision Making and Relevant Information

Practice Problems 11-19, 11-20, 11-24

Quiz Chapter 11

Week 6

Chapter 12 Pricing Decisions and Cost Management

Practice Problems 12-20, 12-22

Homework 12-37 (Submit to dropbox by Day 42 midnight)

Quiz Chapter 12

Chapter 13 Strategy, Balanced Scorecard, and Strategic Profitability Analysis

Practice Problems 13-22, 13-23, 13-39*

*Designated as Practice Quiz 13

Quiz Chapter 13

Week 7

Chapter 17 Process Costing

Practice Problems 17-16, 17-17, 17-24, 17-30, 17-31

Quiz Chapter 17

Chapter 18 Spoilage, Rework, and Scrap

Practice Problems 18-16, 18-29, 18-34*

*Designated as Practice Quiz 18

Quiz Chapter 18

Week 8

Comprehensive Final Exam (Chapters 2, 3, 4, 5, 6, 7, 10, 11, 12, 17, and 18) Closed-Book

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 students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty (www.park.edu/current or http://www.park.edu/faculty/).from Park University 2011-2012 Undergraduate Catalog Page 95-96

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. from Park University 2011-2012 Undergraduate Catalog Page 95

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 "F".
  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.
ONLINE NOTE: Students must participate in an academically related activity on a weekly basis in order to be marked present in an online class. Examples of academically-related activities include but are not limited to: contributing to an online discussion, completing a quiz or exam, completing an assignment, initiating contact with a faculty member to ask a course related question, or using any of the learning management system tools.

Park University 2011-2012 Undergraduate Catalog Page 98

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:12/9/2012 9:48:02 PM