In managerial accounting our focus will be on the preparation and use of financial
information by those inside the firm (i.e., by management). Specific learning
objectives are as follows:
Differentiate between financial and managerial accounting.
Identify product cost elements.
Identify cost objects and classify costs as direct or indirect with respect to cost
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
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
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.
Understand the use and implications of transfer prices.
Your course grade is determined as follows:
A: 460 to 500 points
A-: 450 to 459 points
B+: 440 to 449 points
B: 410 to 439 points
B-: 400 to 409 points
C+: 390 to 399 points
C: 360 to 389 points
C-: 350 to 359 points
D+: 340 to 349 points
D: 310 to 339 points
D-: 300 to 309 points
F: Less than 300 points
The exams will consist of multiple-choice questions and problems, and will be held
only on the dates indicated on the detailed assignment sheet. There are NO make-
ups for quizzes. If a quiz is missed for any reason, the assigned grade will be zero
(0). If an examination is missed for any reason, the assigned grade will be zero (0).
In certain special situations (e.g., hospitalization), a student who has received prior
approval to miss an examination must take a comprehensive make-up examination
at the end of the semester. This is not meant as an option to miss an examination
because a student is simply not prepared. In case of hospitalization, or under any
other extraordinary circumstance, the student is required to provide proper
You are expected to attend each class session. The lecture and class discussions are
an important part of the instructional program, and therefore it is important that you
be present on a regular basis. There are no excused absences, except in rare,
unavoidable instances of hospitalization or official university activity.
There will be a class folder in the BSAD public folders where information can be
found including answers to the homework assignments and other class notes, such
as PowerPoint slides, as well as templates for the Excel assignments. The Excel
problems will be collected and graded; they must be submitted as an Excel
attachment to e-mail sent to the submit folder before class on the due date, which
will be announced in class. If a memo or other written explanation is required by the
problem, you may do this in Word and then cut and paste it into Excel.
PREPARATION FOR CLASS:
Before new material is covered in class, read it carefully. You should think as you
read, paying particular attention to key terms and concepts. Make brief notes (in
pencil) in the margin of your textbook as reminders to ask questions in class, if
necessary. Attend class, listen, and think; the key is genuine intellectual
involvement. Be alert for clarification of points that were difficult for you on your first
reading of the text. Ask questions if those points are not cleared up in the lecture.
Perhaps most importantly, do the homework assignments. Remember, homework is
designed to reinforce your understanding of the principles, not to create that
THE UNIVERSITY'S POLICY REGARDING RELIGIOUS HOLIDAYS:
Students have the right to practice the religion of their choice. Each semester
students should submit in writing to their instructors by the end of the second full
week of classes their documented religious holiday schedule for the semester.
Faculty must permit students who miss work for the purpose of religious observance
to make up this work.
The principal objective of the policy on academic honesty is to promote an
intellectual climate and support the academic integrity of the University of Vermont.
Academic dishonesty or an offense against academic honesty includes acts that may
subvert or compromise the integrity of the educational process. Such acts are
serious offenses that insult the integrity of the entire academic community.
Offenses against academic honesty are any acts that would have the effect of
unfairly promoting or enhancing one's academic standing within the entire
community of learners which includes, but is not limited to, the faculty and students
of the University of Vermont. Academic dishonesty includes knowingly permitting or
assisting any person in the committing of an act of academic dishonesty.
This action might not be possible to undo. Are you sure you want to continue?