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03/17/2013

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BSAD 61 Summer 2012M
ANAGERIAL ACCOUNTINGClass Time:
9:00-11:45 Mon, Tues, Wed, Thurs June 18 July 12
Classroom:
325 Kalkin
Instructor:
Marti Woodman
Office:
313b Kalkin
Office hours:
11:45-12:30, Mon, Tues, Wed, Thurs; 9-10:30 Fri; or by appointment
Office phone:
802-656-0512
E-mail:
marti.woodman@uvm.edu
Prerequisites:
BSAD 60 or 65
Required Text:
Managerial Accounting
 
, 14ed. by Garrison, Noreen, & Brewer, McGraw-Hill.,Either of the following ISBNs will work:
 
Custom version soft cover ISBN:0077616006It is available from the bookstore or directly from the publisher by going to:http://www.mhlearningsolutions.com/vermont.
 
Regular text -ISBN:978-007-811100-6  Do not get edition 13 or earlier, there are significant differences.
Goal:
By the end of the course each student should know how to identify and use accounting information for management decisionmaking, planning and control.
Why is this goal important for you?
All organizations (for-profit, not-for-profit, and governmental) need their managers to make decisions, plan forimplementation, implement the plan, evaluate the effectiveness of the actions, and revise decisions and plans, if needed.Managerial Accounting information provides support for these activities. Each of you will be in a position to manage anaspect of an organization. You will be a better manager if you understand data available to inform your actions. Inaddition, for anyone continuing in business courses, the concepts presented in BSAD 61 will be used in subsequent courses.The more you master them now, the better prepared you will be to learn new material.
Why is the course important for me?
The topics in managerial accounting are universally applicable. While decisions can be made by flipping a coin, decisions will bebetter made with data that is understood. It is my pleasure to teach a course that can help you turn data into information that willguide you in your future work and courses.
Instructor Note:
Your learning is a high priority for me. I am available during office hours as listed above and at other times byarrangement. To determine if I’m available stop by, call, or e-mail. My phone numbers are: (work) 802-656-0512; (home) 802-660-0448; (cell) 802-598-3476.
Objectives:
The following objectives for BSAD 61 have been established by the accounting faculty at the University of Vermont. Eachstudent completing BSAD 61 should have knowledge of each of these.
 
Differentiate between financial and managerial accounting
 
Identify product cost elements
 
Identify cost objects and classify costs as direct or indirect with respect to cost objects chosen
 
Explain how indirect cost allocations affect product (or service) cost
 
Compute manufacturing costs, cost of goods manufactured, cost of goods available for sale, and cost of goods sold
 
Identify when a product/service cost is reflected on the income statement
 
Determine the cost per unit using a job order cost system
 
Explain how the cost system is utilized in the managerial duties of planning, directing and control
 
Explain how the production process can influence the type of cost system that an organization chooses to use
 
Distinguish between fixed and variable costs and explain the difference in behavior
 
Determine fixed and variable costs using various methods
 
Compute the contribution margin and contribution margin ratio and explain their importance
 
Prepare CVP analyses in one-product and multi-product situations
 
 
Determine the activity level required for achieving a desired target profit
 
Evaluate the impact of cost structure on company profitability, including the concept of operating leverage
 
Prepare a cash budget
 
Explain how the cash budget assists in cash management
 
Compute material and labor variances
 
Identify the possible causes of material and labor variances
 
Identify and utilize relevant information in short- and long-term decisions
 
Explain how accounting information may be used in performance evaluations
 
Use ROI and residual income to evaluate investment centers
In class:
key concepts will be discussed and illustrated with problem material provided by instructor and from text. Problems in classwill be worked by instructor and or by students individually, in small groups or as a class as a whole. Time will be made available forquestions regarding homework or other course material.
Out of Class Preparation:
 
Read each Chapter by the date assigned,
 
Work through review problems at end of chapter and check your solution with the one provided in the text,
 
bring hard copy homework solutions to class on the day indicated on the detailed schedule,
o
 
Check figures are available atwww.mhhe.com/garrison14e;Select student edition, then choose chapter
 
Bring questions to class
Grading:
 
Examinations 75%
 
Homework 15%
 
Participation 10%
Examinations: T
here will be three equally weighted examinations. The dates are given in the detailed schedule. Exams will bemostly problems with some multiple choice and other objective questions.If an emergency arises at the last minute which prevents you from taking an examination contact me by phone or e-mailbefore the examination, if at all possible.
Homework:
ALL assigned homework should be completed to the best of your ability before class on the date listed on the detailedschedule. Bring your solutions to class in hard copy and turn it in at the beginning of class. The paper should haveclean edges, not the jagged ones from ripping it out of a spiral notebook. I encourage the use of Excel forformatting most problems. If excel is used, format the spreadsheet so it may be printed out in a readabledocument. If you want a copy of your homework for note taking during class, keep a 2
nd copy for yourself. Each homeworkproblem will be graded on making a valiant attempt at working each part of the problem. Answers will be posted on blackboard after class.EXCEPTION: For those problems due on exam dates, answers will be posted after the prior class.
Participation & attendance
: Attendance will represent 50% of your participation grade. Participation includes active involvement inclass activities. Full participation requires that you restrain from using cell phones, computers (except for note taking), orother devices to e-mail, text, twitter or in any other way communicate with those outside of the class room. There will be a10minute break each day during which you can check with the outside world. You should arrive on time and stay until theend of class. It is rude and disruptive to enter and leave during the class session.
Publishers support for students:
 
www.mhhe.com/garrison14eincludes:
o
 
Check figures for homework problems
o
 
Practice quizzes
o
 
PowerPoint presentations of chapter material

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