Instructor: Leonard Bacon Class Meets: Tuesdays & Thursdays
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CALIFORNIASTATEUNIVERSITY, BAKERSFIELD SCHOOL OF BUSINESS & PUBLIC ADMINISTRATION
ACCOUNTING 221-03
FALL, 2006
Instructor: Leonard Bacon Class meets: Tuesdays & Thursdays
Office location: BPA 100At: 3:30 to 5:35 p.m.
Office phone: 654-2186In room: BDC 155
Email address: CRN 42530
OFFICE HOURS: On Tuesdays and Thursdays from 2:00 to 3:25 p.m. Also, on Fridays from 1:30 to 3:40 p.m. Additionally, office hours are available at other mutually convenient times scheduled by appointment.
COURSE GOALS AND OBJECTIVES: The overall goal of this course to learn the basic fundamentals of managerial accounting necessary to plan and control in achieving the organization’s strategic objectives. By the end of this course the student should be able to:
- Distinguish among various cost behavior patterns and classify various costs according to their cost behavior pattern.
- Describe the flow of product costs in manufacturing and calculate product costs using job order costing.
- Calculate costs using various cost estimation methods.
- Calculate break-even and various profit/loss situations using cost-volume-profit analysis.
- Differentiate various cost drivers and use activity based costing (ABC) to enhance managerial decision making.
- Perform incremental analysis and make decisions involving joint costs.
- Evaluate investment opportunities using net present value, internal rate of return, etc.
- Understand master budgeting concepts and the use of budgets for planning and control.
- Understand the use of standard costs and calculate and interpret variances.
The above are the primary learning objectives for this course. As part of
these learning objectives are many details you will be required to know.
Your textbook provides more specific learning objectives at the beginning
of each chapter. It is your responsibility to review these specific
learning objectives and to assess whether you are meeting them.
At the beginning of this course we also review the basics of financial accounting. Additionally, the last two chapters of our text are an overlap of financial accounting. That is, the preparations of the statement of cash flows and analysis of financial statements.
a)This is the second of two survey accounting courses that are to serve as fundamentals for non-accounting business concentrations.
b)These two courses are the foundations for Accounting concentrations to build upon. If a student receives less than a “B” on these basic accounting courses, it is likely she/he will encounter difficulties while taking upper level accounting courses.
PREREQUISITE: ACCT 220 or its equivalent.
PRIMARY MATERIALS: Managerial Accounting, by Weygandt, Kieso and Kimmel, 3rd edition. Text is published by John Wiley & Sons, Inc. and its ISBN is 0471-66178-3. Journal articles and other data will be provided students as needed.
SUPPLEMENTARY MATERIALS: Student Study Guide is especially helpful for students who have difficulty learning course materials and those that have difficulties with objective questions on exams.
GRADING POLICY: Two mid-quarter tests and a final exam will be given during the course. The scheduled dates for these tests are indicated on the attached assignment sheet. Students are responsible for ensuring that they have a complete test paper during all exams. For any solution missing, a student will receive a zero for that part(s). One way to verify completeness of test paper is to add percent assigned to individual problems; they should total 100 points, unless you are told otherwise. Or, you may ask the instructor for the number of pages the test consists of. Grading for the course is based on the following:
Two mid-quarter tests @ 25% each = 50%
Final exam ...... = 30 Quizzes ...... = 9
Class participation ...... = 6
Homework ...... = 5
Total 100%
--Grade for homework will be based on assigned exercises and problems, journal reading assignments, and possible other special projects. Homework will be graded on a scale of 10 to 0. Late homework will not be accepted later than one week after the assigned due date and will be graded on the scale of 7 thru 0. Some assignments will be presented in class by students for bonus credit. Also, a ten percent bonus credit will be given for homework prepared on a computer and submitted in printed form.
NO-ACCOUNT QUIZ: A 15-minute no-account quiz will be given during the end of the September 21st period that will not count in any way towards your course grade. The sole purpose of this quiz is to familiarize you with the instructor's testing and grading procedures.
GENERAL POLICY: Grading of tests is generally reviewed by the students in the next regular class period following that in which taken, or as soon as practical thereafter. They are then filed by the instructor for one quarter following the present one. Students are not allowed to keep them because questions come from the text's limited test bank and may be used again in the future.
SUGGESTED STUDY APPROACH: A suggested way to learn course material is to read the assigned chapter carefully. You should then ask yourself the questions at the end of the chapter. If you cannot answer them, you should review the applicable part(s) of chapter. As a last resort you can check the answers to the questions on instructor’s homepage. Only after you have done that should you attempt to solve the assigned exercises and problems. You should prepare written or computerized solutions for each of the assigned exercises and problems as best you can even if you are unsure that the solutions are correct. In most cases we will go over the solutions in class, at least the most
important points, and you will be able to ask questions and enter corrections and notes on your own paper. You should try to solve as many additional exercises and problems as you have time for. The instructor is well aware that students have different resources such as aptitude, experience, time etc. Students are adults and how they learn the course material is up to each individual so long as they can prove to the instructor that they have mastered the concepts during proctored exams. The instructor is available to go over with you any course material after it has been reviewed in class.
COURSE ASSIGNMENTS: The general course assignments are:
Date Subject __ Chap_ BE’s, E’s, P’s & BYP’s_____
9/12 Intro to course and review
of Financial Accounting
14 Complete review of Financial1BE 3,5,6,9,10&11. E 7,8&10t*. Accounting and go into study P 3A. BYP 7.
of Managerial Accounting
19 Job Order Cost Accounting 2BE 2,3,6&8. E 2t,6,8&9t. P 3At.
BYP 2.
21Process Cost Accounting 3 BE 2,4,5,6&9. E 2t,8t,9&14. P 7At.
No-Account QuizBYP 7.
26Activity-Based Costing4BE 3,5,6,8&10. E 1t,8,11t&15.
P 5B. BYP 6-(Read. Assign.)
28Cost-Volume-Profit 5BE 2,4,6,7,10&11. E 6,8t&10. P 1Bt.
BYP 3.
10/3Review of Chap’s 1 thru 5
51st Quarter Test Chap’s 1-5
10 Incremental Analysis 6BE 1,2,3,8&9. E 3t,7t&8. P 1B.
BYP 5.
12Variable Costing: A Decision-7BE 1,2,6,9,10&13. E2,11&13.
Making Perspective P 1At. BYP 6.
17Pricing8BE 1,3,4,7,8&9. E 5t,9,13,14&17.
P 2B. BYP 3.
19Budgetary Planning9BE 1,2,3,4,5,6,7,8&9. E 13.
P 1At. BYP 6.
24Budgetary Control and 10BE 3,4,5,7,8&11. E 1t,9,10&14. P
Responsibility Accounting2B. BYP 3&6-(Read. Assign.)
26Review of Chap’s 6 thru 10
312nd Quarter Test Chap’s 6-10
11/2 Standard Costs and11BE 1,2,5&6. E 5t,9,13&14. P
Balanced Scorecard2Bt. BYP 3.
Date Subject __ Chap_ BE’s, E’s, P’s & BYP’s____
7Planning for Capital 12BE 1,3&6. E 2t,3t,5&6. P 1Bt.
InvestmentsBYP 3.
9Statement of Cash Flows13BE 1,3&4. E 1&2. BE 5,8,9&11. E 4t&7. P 7At.
14Financial Analysis: The Big14BE 1,5,6&8. E 1t,2t,4t,6&9. P
Picture 5B. BYP 3.
16Review of Chap’s 11-14 and go over
gradebook.
28 Comprehensive final exam from 5:00 to 7:30 p.m.
* “t” indicates that a template is available to work the E or P.
** “BYP” stands for Broadening Your Perspectives. Some of these
assignments are complemented with reading journal articles. If one
of these complemented BYP is assigned as graded homework, the
instructor will provide students with the accompanying journal
article.