AUSTIN COMMUNITY COLLEGE
ACCOUNTING DEPARTMENT
MASTER COURSE SYLLABUS
ACNT 1475
INDUSTYR ACCOUNTING
INSTRUCTOR NAME: XXXXXXX
COURSE NAME: Industry Accounting
COURSE NUMBER: ACNT 1475
COURSE SYNONYM: XXXXXX
COURSE TIME: XXXXXX
COURSE LOCATION: XXXXX
CREDIT HOURS: 4, (Lecture Hours: 3; Lab Hours: 3)
OFFICE HOURS: XXXXX
OFFICE LOCATION: XXXX
PHONE / EMAIL /WEBSITE: XXXXX
ARRAGEMENT CONFERENCES / APPOINTMENTS: XXXX
CATALOG DESCRIPTION: ACNT 1475 INDUSTRY ACCOUNTING (4-3-3). Study of accounting procedures and operational issues facing accountants in industry. Topics include manufacturing and nonmanufacturing cost, cost of providing a service or manufacturing a product, cost-volume-profit relationships, profit planning and budgets, comparison of actual with budgeted results, and accumulating and presenting data for management decision making. Prerequisites ACNT 1404 and ACNT 1311.
COURSE RATIONAL: The goals and objectives of this course prepare students for (1) obtaining or improving job skills, (2) qualifying for a business or accounting job, (3) achieving job advancement, completing the courses required for the Certified Public Accounting (CPA) exam (a minimum of an undergraduate (4 year) degree is required for the CPA exam), (4) preparing for accounting or business certification exams (CMA, CFA, CGFM, CIA, etc), (5) preparing for a master’s program, (6) working as an entrepreneur, (7) completing degree requirements and/or (8) fulfilling personal goals.
STUDENT LEARNING OUTCOMES: See last page.
DISCIPLINE / PROGRAM OUTCOMES: See last page
Scans Competencies:
Competency must be shown in the following three areas:
1) Manages time
a) Uses class and lab time efficiently to accomplish required assignments
b) Focus efforts toward accomplishing class-related goals
c) Prioritizes activities based on deadlines and level of importance
d) Stays on target with class syllabus and planned lab activities
2) Uses computers to process information
a) Uses lab computers and text to acquire and organize financial information for the completion of lab assignments using QuickBooks software
b) Analyzes information necessary to complete and accounting cycle and prepare statements using an automated system
c) Communicates financial information through the processing and production of financial statements
3) Student exhibits responsibility
a) Meets established deadlines for homework and lab assignments
b) Attends class/lab on a regular basis
c) Takes exams on time
d) Seeks assistance from instructor and/or tutors when necessary
e) Prepares for classes
TEXTBOOKS: Accounting
Principles, 9th edition, Weygandt/Kieso/Kimmel, John Wiley & Sons Inc., ISBN:
978-0-470-31754-9 and Computer Accounting, with
Peachtree Complete Peachtree 2011, 15th edition, ISBN: 978-0-07-750503-5
INSTRUCTIONAL METHODOLOGY: The objectives of this course will be met by incorporating a variety of instructional methods. These may include lecture, class exams and quizzes, group activities and project, student presentations, class problem-solving, written analysis, spreadsheet, word processing and power point activities, the use of accounting software and online activities and research.
METHOD OF PRESENTATION: Three-hour lecture/discussion each week. Three lab hours each week.
COURSE REQUIREMENTS: See specific Instructor's First Day Class Handout.
OTHER: Basic computer skills utilizing word processing and spreadsheet are recommended for ACCT 1403.
Grade System:
|
Activity |
Number |
Pts Each |
Total |
Percent |
Points |
Grade |
||
|
Exams - Accounting Text |
4 |
100 |
400 |
62% |
582 |
to |
650 |
A |
|
Assignments - Text (34 drop
4) |
30 |
3 |
90 |
14% |
517 |
to |
581 |
B |
|
Quizzes (10 drop two) |
8 |
10 |
80 |
12% |
452 |
to |
516 |
C |
|
Peachtree Exercises |
7 |
5 |
35 |
5% |
390 |
to |
451 |
D |
|
Peachtree Exam |
1 |
45 |
45 |
7% |
Below |
|
390 |
F |
|
TOTAL |
|
|
650 |
100% |
||||
COURSE POLICIES
Attendance Policies: Austin
Community College does not have an established attendance policy. The Business
Studies Area has determined that absences in excess of 10 percent of the
scheduled class periods are the basis for an instructor to withdraw a student
from class. While I may withdraw a
student for excessive absences, I have no obligation to do so.
Withdrawal Policy: XXXXXth is the last day to withdraw from this class
and receive a grade of “W”. If you wish to withdraw, complete a withdrawal slip
and turn it into the admission’s office. Do not assume I will withdraw you.
Make-up exam policy – You must
contact me within one week after the missed exam to schedule an exam in the
testing center. If you have not taken the exam within one week from the
scheduled exam date 15 points will be deducted from your exam grade for each
class meeting date until the exam is taken. There is no curve available for the
make-up exams. Only one make-up exam may be taken during the semester. The
make-up exam may consist entirely of multiple-choice questions and cover any
topics included in the chapters – not just the topics listed on the exam review
sheet. If there is a conflict, you may take an exam early with no penalty.
Please discuss this with me as soon as you are aware of a conflict.
Due Dates: To receive credit all exams,
quizzes, homework, projects and or other assignments are due on or before the
dates as specified in the course outline/calendar located on the current
syllabus. No late exams, quizzes, homework, projects or other assignments will
be accepted. There is no make-up work and no extra credit work.
Incomplete Policy: An instructor may award a grade of “I” (Incomplete) if
a student was unable to complete all of the objectives for the passing grade in
a course. An incomplete grade cannot be carried beyond the established date in
the following semester. The completion date is determined by the instructor but
may not be later than the final deadline for withdrawal in the subsequent semester. Incomplete grades are
given only on rare occasions.
The purpose of this grade is for an emergency, or other serious considerations,
which occurs after the withdrawal date and prevents timely completion of the
course.
Scholastic Dishonesty: Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating n an exam or quiz, plagiarizing, and 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.
Student Rights and Responsibilities: Students at the college have the rights accorded by
the U.S. Constitution to freedom of speech, peaceful assembly, petition, and
association. These rights carry with them the responsibility to accord the same
rights to others in the college community and not to interfere with or disrupt
the educational process. Opportunity for students to examine and question
pertinent data and assumptions of a given discipline, guided by the evidence of
scholarly research, is appropriate in a learning environment. This concept is
accompanied by an equally demanding concept of responsibility on the part of
the student. As willing partners in learning, students must comply with college
rules and procedures.
Students with Disabilities: The following statement on students with disabilities must also be
included: 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 do this three weeks before the start
of the semester.
ACC Email Policy:
All College e-mail communication to students will be sent solely to the
student’s ACCmail account, with the expectation that
such communications will be read in a timely fashion. ACC will send important
information
and will notify you of any college related emergencies using this account.
Students should only expect to
receive email communication from their instructor using this account. Likewise,
students should use their
ACCmail account when communicating with instructors
and staff. Instructions for activating an ACCmail
account can be found at http://www.austincc.edu/accmail/index.php.
Testing Center
Policy: Under certain circumstances, an instructor may have students
take an examination in a testing center.
Students using the Academic Testing Center must govern themselves according to
the Student Guide for
Use of ACC Testing Centers and should read the entire guide before going to
take the exam.
Student and Instructional Services: ACC strives to provide exemplary support to its students and
offers a broad variety of opportunities and services. Information on these
services and support systems is available at: http://www.austincc.edu/s4/
Links to many student services and other information can be
found at: http://www.austincc.edu/current/
ACC Learning Labs provide free tutoring services to all ACC
students currently enrolled in the course to be
tutored. The tutor schedule for each Learning Lab may be
found at: http://www.autincc.edu/tutor/students/tutoring.php
For
help setting up your ACCeID, ACC Gmail, or ACC
Blackboard, see a Learning Lab Technician at
any ACC Learning Lab.
Grade Change Policies: Click on this
link to view the policy. (See Student Handbook: www.austincc.edu/handbook/policies2.htm)
http://www.austincc.edu/withdraw/conseq_and_resources/onepage.htm
Student
and Instructional Services: http://www.austincc.edu/cataloghtml/services.php
Always
refer to the instructor’s current syllabus for course evaluation, contact
information, and course outline/calendar.
COURSE LEARNING OUTCOMES
Upon successful completion of this course, you should be able to:
LEARNING OBJECTIVES:
Chapter 19
1.
Explain the distinguishing features of managerial accounting.
2.
Identify the three broad functions of management.
3.
Define the three classes of manufacturing costs.
4.
Distinguish between product and period costs.
5.
Explain the difference between a merchandising and manufacturing
enterprise financial statements.
6.
Indicate how cost of goods manufactured is determined.
7.
Explain the difference between a merchandising and a manufacturing
balance sheet.
8.
Identify trends in managerial
accounting.
Chapter 20
1.
Explain the characteristics and purposes of cost accounting.
2.
Describe the flow of costs in a job order cost accounting system.
3.
Explain the nature and importance of a job cost sheet.
4.
Indicate how the predetermined overhead rate is determined and used.
5.
Prepare entries for jobs completed and sold.
6.
Distinguish between under- and overapplied manufacturing overhead.
Chapter
21
1.
Understand who uses process cost systems.
2.
Explain the similarities and differences between job order cost and
process cost systems.
3.
Explain the flow of costs in a process cost system.
4.
Make the journal entries to assign manufacturing costs in a process cost
system.
5.
Compute equivalent units.
6.
Explain the four steps necessary to prepare a production cost report.
7.
Prepare a production cost report.
8.
Explain just-in-time (JIT) processing.
9.
Explain activity-based costing (ABC).
Chapter
22
1.
Distinguish between variable and fixed costs.
2.
Explain the significance of the relevant range.
3.
Explain the concept of mixed costs.
4.
List the five components of cost-volume-profit analysis.
5.
Indicate what contribution margin is and how it can be expressed.
6.
Identify the three ways to determine the break-even point.
7.
Give the formulas for determining sales required to earn target net
income.
8.
Define margin of safety, and give the formulas for computing it.
9.
Describe the essential features
of a cost-volume-profit income
statement.
Chapter
23
1.
Indicate the benefits of budgeting.
2.
State the essentials of effective budgeting.
3.
Identify the budgets that comprise the master budget.
4.
Describe the sources for preparing the budgeted income statement.
5.
Explain the principal sections of a cash budget.
6.
Indicate the applicability of budgeting in non-manufacturing companies.
Chapter
24
1.
Describe the concept of budgetary control.
2.
Evaluate the usefulness of static budget reports.
3.
Explain the development of flexible budgets and the usefulness of
flexible budget reports.
4.
Describe the concept of responsibility accounting.
5.
Indicate the features of responsibility reports for cost centers.
6.
Identify the content of responsibility reports for profit centers.
7.
Explain the basis and formula used in evaluating performance in
investment centers.
Chapter
25
1.
Distinguish between a standard and a budget.
2.
Identify the advantages of standard costs.
3.
Describe how companies set standards.
4.
State the formulas for determining direct materials and direct labor
variances.
5.
State the formulas for determining manufacturing overhead variances.
6.
Discuss the reporting of variances.
7.
Prepare an income statement for management under a standard costing
system.
8.
Describe the balanced scorecard approach to performance evaluation.
Chapter
26
1.
Identify the steps in management’s decision-making process.
2.
Describe the concept of incremental analysis.
3.
Identify the relevant costs in accepting an order at a special price.
4.
Identify the relevant costs in a make-or-buy decision.
5.
Give the decision rule for whether to sell or process materials further.
6.
Identify the factors to consider in retaining or replacing equipment.
7.
Explain the relevant factors in whether to eliminate an unprofitable
segment.
8.
Determine which products to make and sell when resources are limited.
9.
Contrast annual rate of return and cash payback in capital budgeting.
10.
Distinguish between the net present value and internal rate of return
methods.