PRINCIPLES OF ACCOUNTING II - MANAGERIAL

ACCT 2302

COURSE MASTER SYLLABUS

 

ACCOUNTING DEPARTMENT

Revised 7/27/09

COURSE NUMBER: ACCT 2302 (Common Course Number)

COURSE TITLE: Principles of Accounting II -- Managerial

CREDIT HOURS: 3: Lecture Hours: 3, Lab Hours: 1

PREREQUISITE: ACCT 2301:  Skills:  R

METHOD OF PRESENTATION: Three-hour lecture/discussion each week.  One hour lab each week (attendance in lab is required).

COURSE DESCRIPTION: 

Introduction to communicating accounting information to internal users (enterprise managers). A study of the fundamentals of managerial accounting. Emphasis on accounting for a manufacturing concern, budgeting, planning, management decision making, and analysis of financial reports. Topics also include cost behavior and control, product cost accumulation and pricing, and responsibility accounting.   Skills: B Course Type: T

 

1.      Before enrolling in ACCT 2302, a student must have completed ACCT 2301 with a C or better grade.

 

2.      Basic computer skills utilizing word processing, spreadsheet (Excel), and presentation (Power Point) software are recommended for all accounting courses. If you have any questions, consult with an accounting advisor.

 

CPA and transfer credit:

  1.  Currently, to be eligible to sit for the CPA exam in Texas, you must have a minimum of a bachelor’s degree that includes 150 hours of college credit, 30 hours of qualifying accounting coursework, an approved 3 hour accounting ethics course and 24 hours of related business courses.

 

2.      Principles of Accounting II -- Managerial generally transfers to four-year colleges and universities.   The equivalent at UT is ACC 312 and at TSU it is ACC 2362.

 

 

REQUIRED TEXTS/MATERIALS:
0078083702 - Shrink Wrapped Package that includes: Managerial Accounting 13e Garrison, Noreen, Brewer and Connect Accounting



SCANS COMPETENCIES:   SCANS is the Secretary’s Commission on Achieving Necessary Skills.

Go to http://www.austincc.edu/accting/Scans.php for complete definitions and explanation of SCANS.  This list summarizes the SCANS competencies addressed in this particular course.

1.      Student exhibits responsibility:  Exerts a high level of effort and perseverance toward goal attainment, works hard to become excellent at doing tasks by setting high standards, paying attention to details, working well and displaying a high level of concentration even when assigned an unpleasant task; and displays high standards of attendance, punctuality, enthusiasm, vitality and optimism in approaching and completing tasks. 

 

2.      Student acquires information:   Identifies need for data, obtains them from existing sources or creates them, and evaluates their relevance and accuracy. Competently performing the tasks for acquiring data and evaluating information includes posing analytical questions to determine specific information needs, selecting possible information and evaluating its appropriateness, and determining when new information must be created. 

 

3.      Student communicates information:  Selects and analyzes information and communicates the result to others using oral, written, graphic, pictorial, or multi-media methods. Competently performing the tasks of communicating and interpreting information to others includes determining information to be communicated, identifying the best methods to present information (i.e. overheads, handouts, etc.), and if necessary, converting to desired format and conveying information to others through a variety of means including oral presentation and written communication.

 

CORE COMPETENCIES:
At the end of this course, students will demonstrate proficiency in the following areas:

1:  Distinguish between financial and managerial accounting.

2:  Based upon a T-Account analysis of the manufacturing process, prepare the Schedule of Cost of Goods Manufactured and Sold.

3:  Allocate manufacturing overhead cost to Work-in-Process, indentify and adjust differences between actual MOH and MOH applied.   

4:  Classify costs on the basis of behavior and prepare an income statement using the contribution format.

5:  Perform cost-volume-profit analyses under varying cost-behavior assumptions.

6:  Understand the advantages and disadvantages of absorption and variable costing methods. 

7:  Describe the master budgeting process and the role of profit planning in decision-making.

8:  Compare and contrast a static budget and flexible budget.

9:  Demonstrate an understanding of the use of standard costing as a performance measure and interpret the results of variance analysis. Distinguish activity variances from price and efficiency variances.

10:  Explain responsibility accounting systems and evaluate management performance for profit centers and investment centers.   

11:  Apply relevant costing concepts to short-term operating decisions and to long-term capital budgeting decisions.

An assessment based on these competencies will be part of the final course exam.

 

INSTRUCTIONAL METHODOLOGY:

For additional information, refer to the course syllabus of the specific instructor.

 

OFFICE HOURS: For specific times and locations, refer to the course syllabus of the specific instructor.

 

COURSE RATIONALE:

The goals and objectives of this course prepare students to (1) complete degree requirements; (2) obtain or improve job skills; (3) qualify for a business or accounting job; (4) work as an entrepreneur; 5) fulfill personal goals; and/or (6) understand managerial accounting principles and concepts.

 

COURSE OBJECTIVE:
Upon completion of this course, the student should be able to understand accounting procedures for cost accumulation and analysis; budgeting and forecasting; and basic considerations in quantitative analysis for managerial decision making.

 

COMMON COURSES LEARNING OBJECTIVES/OUTCOMES:

Refer to http://www.austincc.edu/sammons/ACCT2302/garrisonobjectives.htm

 

ACC POLICIES

Academic Freedom Statement:  It is expected that faculty and students will respect the views of others when expressed in classroom discussions.

 

Student Discipline: ACC's policy on student discipline can be found in the Student Handbook.

 

Scholastic Dishonesty:

Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework. Electronic devices may not be used for exams unless specifically authorized by the instructor.  Penalties for scholastic dishonesty will depend upon the nature of the violation and may range from lowering a grade on one assignment to an F in the course and/or expulsion from this institution.  See page 31 of the Student Handbook.

 

Students with Disabilities Statement:

Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to make their requests three weeks before the start of the semester.  For more information:  http://www.austincc.edu/support/osd/index.php

 

Grade Change Policies: http://www.austincc.edu/handbook/policies2.php

 

Withdrawals and the Rule of Three:  Per state law, effective spring 2006 any student taking a class for the third time or more may be charged an additional $60 per credit hour unless exempted. Click on this link for more information:  http://www.austincc.edu/handbook/acaguide2.php#dropping

 

 

COURSE EVALUATION/GRADING SYSTEM:

Mandatory Course Grading:

Activity

Percent

Exams and Proctored Quizzes

65%

Lab Activities 

10%

Master Budget

10%

Homework  and

 Other Assignments

 15%

       TOTAL

100%

 

COURSE POLICIES:

Attendance:

Attendance is expected at all classes.  Since the exams are a reflection of the material covered in class and the assigned homework and lab problems, it is to the student’s advantage to attend.

 

Withdrawal:

If you wish to withdraw, it is your responsibility to do so.  DO NOT ASSUME THAT THE INSTRUCTOR WILL WITHDRAW YOU from the class.  The instructor has no obligation to do so.

 

Refer to the course syllabus for the withdrawal policy of the specific instructor.

 

Incomplete:

Incomplete grades are given only on rare occasions at the instructor’s discretion.  Generally, to receive an Incomplete, a student must have completed all examinations and assignments to date, be passing with a satisfactory grade of C or better, and have personal circumstances that prevent course completion that occur after the deadline to withdraw that prevent course completion.

 

Labs:
Lab attendance is mandatory.

 

Blackboard:

Blackboard site is available for this class.  Students may log onto the Blackboard site at http://acconline.austincc.edu to gain access to:

ü  Course announcements

ü  Syllabus

ü  Link to Connect Accounting (where the interactive homework assignments are located)

ü  Grade book

ü  Course Materials

 

To use Blackboard, a student does not have to have Internet access at home.  Students can work with this system in our ACC open lab or at any LRS computer.

 

Tutoring:  Accounting tutors are available at many campuses. They have proven to be a valuable resource for students.