Cost Accounting THEORY and PRACTICE

ACCOUNTING 6347

Cost Accounting THEORY AND PRACTICE

Fall 2007

Professor:Prof. Zhanel Mailibayeva

101E DeSantis Center (Temporary)

(561) 297-4227 (Temporary)

Class meeting times:W 7:10-10:00pm, FL 426

Office hours:TW 5:00-6:00pm in my office

And by appointment

Course Materials:Required: Charles Horngren, Srikant Datar and George Foster Cost Accounting: A Managerial emphasis, 12th Edition, Prentice Hall

Course Website:

This course is supported by e-college. It is important that you have access to it as I will post announcements, homework problems solutions and other material on the website.

Course Description

This is a foundation graduate course of theory and practical applications of cost accounting. In the past, cost accounting was limited to computing the manufacturing cost of the products a company produced. A firm needed to know the cost of its products to value its inventories and determine its cost of goods sold for financial reporting. With time the focus shifted from computing the cost of products to using the cost information to improve the firm's performance. Techniques and theories were developed to aid managers make better decisions, improve planning procedures, and evaluate and reward employees' performances. The recent increase in global competition has made firms aware that their product cost information may be crude and not very reliable. Thus the focus has shifted to more accurately determining the manufacturing costs of a firm’s products.

In this course we will look at multiple facets of managerial/cost accounting. First, we will study traditional and innovative product costing procedures. Second, we will examine some of the standard techniques and theories for using costing information in the decision making. And finally, we will learn tools for planning, control and performance evaluation processes.

Grading:

Points in ACG 6347 will be awarded as follows:

There will be no extra credit assignments.

Typical grade distribution: A= 90-100%, B = 80-89%, C=70-79%, D=60-69%, F=less than 60%. However, I reserve the right to change the cut-off points at the end of semester, if warranted.

Points earned in the course will be posted on the web site for each student; I will try to update the grade information every week. If there is an error in the information posted, it is important to report the problem to me promptly. The last date to report errors in the scores listed on the web is the last day of classes, Wednesday, December 5.

Quizzes (60 points, 10 points each quiz)

Approximately once every two weeks a quiz will be given in class. Quizzes may or may not be announced. No make-ups are given for quizzes missed by a student under any circumstances. A total of 7 quizzes will be given; the lowest score will be dropped.

Homework Problems (50 points, 5 points each homework)

Almost every class, one problem out of the homework assigned will be collected and graded. Which problem will be collected and graded will not be announced. A total of 12 homework problem(s) will be collected; the lowest 2 scores will be dropped.

If a student must miss a class for a legitimate reason (e.g. family emergency, military obligations, university-approved event), he/she can submit his/her entire homework assignment prior to the date of his/her absence along with written documentation indicating the reason for the absence. Homework will not be accepted if it is submitted after the absence has occurred.

If a student is ill, he/she may submit his/her entire homework late if it is accompanied by written documentation of the illness from a health official. Since the answers to the regularly assigned homework problems will have been posted on the web, I reserve the right to substitute alternative problems.

Required “Comprehensive Problems” (20 points)

A comprehensive set of problems covering the final topics in the course will be assigned during the last week of the course.

Participation Policy (40 points)

The purpose of class participation is to help the instructor make sure the students are learning the course material. In order to encourage students to actively participate in the class, students are given points based on their level of preparedness and contribution to the class. Participation points can be earned by:

1)Demonstrating that one is prepared for class. Being prepared means, among other things, that you have read all assigned materials and have completed all assigned homework problems. Evidence that you have not done these things will result in loss of points.

2)Class performance. Volunteering good answers and comments to my questions; the answer need not be correct, but should be thoughtful. Note that it is quality, and not quantity, of responses that will be considered.

Midterm and Final Examinations (250 points)

The midterm and final examinations will contain multiple-choice problems, work out problems and written essays. Final examination will be comprehensive. If a student may be unable to attend an examination due to a legitimate reason (e.g., a concurrent examination, or as outlined in the homework submission guidelines above), the student should notify me one week prior to the final exam and I will schedule a make-up exam.

ACADEMIC HONESTY

All students are required to adhere to the School of Accounting Course Policies including an academic honesty policy: Failure to follow these regulations may lead to receiving grade F in the course.

SCHEDULE OF ASSIGNMENTS

Wed., Oct. 3

Midterm Examination

Chapters 1, 2, 4, 5 and 17

Wed., Oct. 19

LAST DAY FOR STUDENT WHO IS FAILING THE COURSE TO DROP THE COURSE WITHOUT GETTING “F”

Friday, Dec. 7