BSAD 61 Summer 2012 MANAGERIAL ACCOUNTING

Class Time: Classroom: Instructor: Office hours: Office phone: E-mail: Prerequisites:

9:00-11:45 Mon, Tues, Wed, Thurs June 18 – July 12 325 Kalkin Marti Woodman Office: 313b Kalkin 11:45-12:30, Mon, Tues, Wed, Thurs; 9-10:30 Fri; or by appointment 802-656-0512 marti.woodman@uvm.edu 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: 0077616006 It 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 decision making, 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 for implementation, 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 an aspect of an organization. You will be a better manager if you understand data available to inform your actions. In addition, 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 be better made with data that is understood. It is my pleasure to teach a course that can help you turn data into information that will guide 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 by arrangement. To determine if I’m available stop by, call, or e-mail. My phone numbers are: (work) 802-656-0512; (home) 802-6600448; (cell) 802-598-3476. Objectives: The following objectives for BSAD 61 have been established by the accounting faculty at the University of Vermont. Each student 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 class will be worked by instructor and or by students individually, in small groups or as a class as a whole. Time will be made available for questions 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 at www.mhhe.com/garrison14e; Select student edition, then choose chapter • Bring questions to class Grading: • Examinations 75% • Homework 15% • Participation 10% Examinations: There will be three equally weighted examinations. The dates are given in the detailed schedule. Exams will be mostly 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-mail before 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 detailed schedule. Bring your solutions to class in hard copy and turn it in at the beginning of class. The paper should have clean edges, not the jagged ones from ripping it out of a spiral notebook. I encourage the use of Excel for formatting most problems. If excel is used, format the spreadsheet so it may be printed out in a readable nd copy for yourself. Each homework document. If you want a copy of your homework for note taking during class, keep a 2
problem 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 in class activities. Full participation requires that you restrain from using cell phones, computers (except for note taking), or other devices to e-mail, text, twitter or in any other way communicate with those outside of the class room. There will be a 10minute break each day during which you can check with the outside world. You should arrive on time and stay until the end of class. It is rude and disruptive to enter and leave during the class session. Publishers support for students: • www.mhhe.com/garrison14e includes: o Check figures for homework problems o Practice quizzes o PowerPoint presentations of chapter material

Detailed Schedule Summer 2012

Chap 1 managerial Accounting overview Chap 2 Cost Concepts 2.12 Chap 3 - Product Costing 2.6, 2.7, 2.22 Chap 7 Activity based costing 3.11, 3.12, 3.18,3.22 Exam 1 Chap 1,2, 3, 6 7.9, 7.11, 7.16 Chap 5 Cost Volume Profit Analysis Chap 8 Profit Planning 5.20, 5.22, , 5.21, Chap 9 Flexible Budgets 8.7, '8.10, 8.13, 8-15 Chap 10 Production variances 9.19, 9-21 Chap 11 Divisional Performance 10.5, 10.9, 10.15 Independence Day Exam 2 Chap 5, 8, 9, 10 11.8, 11.12, 11.3, 11.4, 11.20 Chap 12 Differential Analysis and Decision Making 12.2, 12.21, 12.24, 12.27, 7/10 Appendix A Chap 10: review Present Value 12.28 7/11 Chap 10 Capital Budgeting 13A.2 7/12 Exam 3, Chap 12 &13 13.2, 13.25, 13.32

6/18 6/19 6/20 6/21 6/25 6/26 6/27 6/28 7/2 7/3 7/4 7/5 7/9

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