Course Syllabus

 

Cost Accounting AC314

Instructor:                  Christine Betts

Class Day/Time:         Tuesday/Thursday 10:50am – 12:05pm

Classroom:                 Monadnock 121

Instructor Communication:

            E-mail:            bettsc@franklinpierce.edu

            Phone:             603-899-4292

             Office:             College of Business Room 112

            Office Hours:  Tuesdays 9:30-10:30am

                                     Additional times always available by appointment                                             

Required Text:

      Great news: We are using an OER (Open Educational Resource so your textbook for this class is available for free online! It is contained in your Canvas course shell.  If you prefer a hard copy, the information for the textbook is Principles of Accounting, Volume 2 Managerial Accounting, available thru OpenStax.com

ISBN-13: 978-1-59399-595-9

Course Description:

This is the study of how managers use accounting information in decision-making, planning, directing operations and controlling.  Focuses on cost terms and concepts, cost behavior, cost structure, and cost-volume-profit analysis.  Includes issues relating to cost systems, cost control, profit planning, and performance analysis in manufacturing and service environments. 

Course Objectives:

  1. Describe the traditional types of product costing systems (including job-order and process), illustrate the flow of costs in each, and prepare related accounting records and reports;
  2. Discuss the impact of technology on the business environment, its implications for product and service costs, and the development of activity-based costing and management;
  3. Explain the purposes of budgeting, prepare a master budget and its component schedules, and relate the budget to planning and control;
  4. Explain the development and use of standard costs and flexible budgets, prepare and interpret variance analysis reports and relate them to responsibility accounting and control;
  5. Explain the nature of and need for segment reporting and the relationship with cost, revenue, profit, and investment centers; prepare and analyze related segment reports;

 

Student Learning Outcomes:

At the conclusion of this course, the student should be able to:

  1. Identify and illustrate the primary activities and information needs of managers and explain the role of the managerial accountant as a member of the management team; compare and contrast financial and managerial accounting;
  2. Define and illustrate various cost terms, concepts, and behaviors, and evaluate their relevancy for different decision-making purposes;
  3. Distinguish between product and period costs and prepare and evaluate a Schedule of Cost of Goods Manufactured, Schedule of Cost of Goods Sold, and Income Statement;
  4. Prepare traditional and contribution-margin income statements and define related terms;
  5. Explain cost-volume-profit analysis, degree of operating leverage, and safety margin and employ each as an analytical tool
  1. Compare and contrast absorption costing and variable costing, prepare income statements using both methods, and reconcile the resulting net incomes;
  2. Define relevant costs and benefits and prepare analyses related to special decisions;
  3. Explain the nature of capital expenditure decisions and apply and evaluate various methods used in making these decisions; including the time value of money and
  4. Identify the ethical implications inherent in managerial accounting and reporting and be able to apply strategies for addressing them.

Course Requirements & Assurance of Learning

Knowledge and Skills Developed in this Class:

  1. Quantitative analysis
  2. Critical thinking
  3. Information Technology
  4. Ethical and Legal Environment

Academic Integrity Policy

The Academic Integrity Policy defines the University’s expectations for academic honesty and our procedures for addressing academic misconduct. When we, as members of the university community, maintain the highest standards of academic integrity, we ensure the value of our educational process and the credibility of a Franklin Pierce University education. Academic integrity is built upon the values of honesty, fairness, social responsibility, and ethical behavior. These principles are at the core of a Franklin Pierce education. Academic misconduct is an act or attempted act that violates those values and creates an unfair advantage for a student; such an act strikes at the heart of the academic enterprise. The Academic Integrity Policy defines academic misconduct and outlines procedures for responding to it. This includes when and how an instructor should report a violation of the Academic Integrity Policy, penalties that will be applied when a student is found responsible for academic misconduct, and the appeal process if a student wishes to contest a report or a sanction for alleged academic misconduct.

Consequences for Academic Misconduct:

  1. The penalty for a student’s first incident of academic misconduct will be decided by the instructor, with mandatory reporting to the Dean of the college who oversees the course that has reported the misconduct.
  2. After a second incident of academic misconduct, a student will be suspended for one semester or one term. The suspension begins at the start of the semester or term following the conclusion of the process resulting in the finding of academic misconduct.
  3. After a third incident of academic misconduct, a student will be dismissed (permanently separated) from the university.

 Accommodations:

It is Franklin Pierce University policy to provide reasonable accommodations under the Americans with Disabilities Act and Section 504 of the Rehabilitation Act.

If you are a student with a disability or neurodiversity, the Coordinator of Student Accessibility Services is available to discuss your eligibility and the reasonable accommodations available to you. Requests for academic accommodation should be made as early as possible in the term/semester but can be made at any time. You are responsible for contacting the Coordinator to make an appointment, which can be held in person or virtually. The Coordinator’s office is in the Student Success Center, 2nd floor of the library. The Coordinator can be reached at 603-899-4901 or be email: studentaccessability@franklinpierce.edu.

If you have already been approved for Accessibility Services, please share your accommodation letter with your instructor(s) so that reasonable accommodations can be implemented.

Title IX Policy:

Franklin Pierce University is committed to providing students with a safe learning environment. College policy prohibits sexual misconduct, including sexual harassment, sex discrimination, non-consensual sexual penetration and contact, dating/domestic violence, and stalking. The complete Title IX policy is available in Human Resources or via FPU resources button in the LMS. 

As a faculty member, I am required by College policy and law to report incidents of sexual misconduct of which I am informed, whether in written assignments or in person, to the Title IX Coordinator. The Title IX Coordinator will ensure that the student receives information on interim safety measures, support resources, and complaint-resolution options. If you have experienced sexual misconduct and wish to seek support without having the incident reported to the Title IX Coordinator, there are confidential resources you can talk to on and off campus.  They are:

  • Franklin Pierce University Counseling and Outreach Education is located on the Rindge Campus in New Hampshire Hall. Phone: (603) 899-4133  Email:counseling@franklinpierce.edu
    • Confidential Resource: Nicole Newell, MA, CMHC, NCCMHC, NCC (she/her), Director of Counseling and Joint Health Services,  Phone: 608-899-4135   Email:Newelln@franklinpierce.edu   
  • Franklin Pierce University Health Services, located on the Rindge Campus in Granite Hall, first floor. (603) 899-4130
  • The Monadnock Center for Violence Prevention, Inc. 24-Hour Crisis Line, Toll-Free 1-888-511-6287. You can also visit the MCVP website at https://mcvprevention.orgLinks to an external site.
  • National Domestic Violence Hotline: 800-799-SAFE

Title IX Team:

Title IX Coordinator: Heather Lorenz, lorenzh@franklinpierce.edu 

Deputy Title IX Coordinators:

Inclement Weather:

In the event the University’s Rindge Campus closes, for any reason, I will provide instructions on Canvas. Be sure to check for updates and alternative assignments.

Classroom Procedures:

We will combine lectures, discussions, writing, and group problem solving. Part of the evaluation for this course is based on your participation and involvement, both in the classroom and on assignments. This will be a very hands-on course, and we will be working together and separately on cost accounting problems. Participation is part of your final grade.

The course will follow the assignment schedule as closely as possible, but you are responsible for knowing about and being prepared for class when a change to the schedule becomes necessary. You should read the assigned material before it is presented in class and have the homework completed and ready to review when assigned. Success in this course requires that you keep up with and complete all assignments.

Attendance is expected for all classes. If you will be missing class, please email or leave a voicemail and be sure to follow up with me upon your return for missed work.

If you find you are falling behind or not understanding the material, please let me know. I am available for extra help, do not wait until December!

Classroom Decorum:

            Please arrive on time for class.

            Always show respect for the opinions and feelings of your fellow students.

            Please turn OFF your cell phone – cell phones should not be visible during class and will        

                  not be used during quizzes or exams.

Homework:

Homework will be assigned for select chapters. Completing the homework and being in class when it is reviewed will lead to success. Problems will also be assigned for each chapter. These will be collected and graded. In addition, each student will be making a presentation at the end of the semester. Guidelines will be discussed in class.

Grading:

Grades are calculated based on the results of all expectations of the student and all assignments.

                        Attendance & Participation                     10 points

                        Tests 2 @ 20                                             40 points

                        Homework/Assignments 8 @ 5 points  40 points

                        Final Presentation/Exam                        10 points

                                    Total points                                 100 points