ACCT 3224 Course Outline Fall 2021 - 004,005,006 PDF

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Detailed Managerial Accounting course outline summary...

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Course Syllabus ACCT 3224 SECTION 004,005,006 Fall 2021 MON&WED

Management Accounting 1 Professor Leonard D'Silva

MBA, CPA, CMA

Telephone

403.440.5090 (no voicemail)

E-mail Address

[email protected]

Office

EB2046 / Virtual

Office Hours Mon/Wed 1:00 – 2:00 PM or By Appointment Only Required Course Materials Textbook(s )

Managerial Accounting

Connect URL:

McGraw-Hill Connect (purchased with the above textbook)

Calculator:

Authors: Garrison, Libby and Webb Edition: Twelfth Canadian Edition, 2021 Publisher: McGraw-Hill Ryerson

Link posted on Blackboard A non-programmable calculator capable of statistical computations. TI-BAII Plus is recommended

Course Description This course provides an introduction to the nature, scope and use of managerial accounting. Topics include: management planning and control, inventory and cost flows, job order costing, standard costs and variance analysis, budgeting, breakeven analysis, relevant costs and decision making. Managerial accounting is concerned with providing information to managers (i.e., people who work inside the organization) for use in planning and controlling operations and in making both routine and strategic decisions. Students entering this course should already be familiar with how accounting data is collected and recorded. Now, Management Accounting I focuses on how this information can be used to assist managers in planning, controlling, and decision making. ACCT 3224 provides the foundation for future courses in management accounting. The prerequisites for ACCT 3224 are as follows: ACCT 2120 or ACCT 2121, or consent of the department

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Prerequisite checking is now in effect at Mount Royal University. Students who do not have the correct prerequisites for a course will be automatically de-registered from that course prior to the commencement of classes. If you have any questions about prerequisites, please talk to an Advisor. Course Learning Outcomes ACCT 3224 is an introductory course in Managerial Accounting. The following are the broad learning outcomes from it:       

Describe the role of management accounting in providing information for managers Describe and apply the job order costing process Describe how costs behave, analyse cost behaviour and apply the concepts in decision making contexts Describe and apply cost-volume-profit analysis Describe and apply the budgeting process at organizations Describe standard costing and apply it to determine variances Describe and apply managerial accounting reporting for control purposes

Mark Allocation 1.

Final examination

40%

2.

Midterm examination

30%

3.

Connect Homework Assignments

20%

4.

Connect SmartBook Assignments

10%

Assessment A. Examinations

70%

The midterm examination will cover Chapters 1, 2, 3, 4 and 5. The final examination will cover material from chapters 8, 9, 10, 11 and 12. The examinations may consist of a mix of multiple-choice, written response and calculation type questions. o Midterm Exam – Friday, October 29, 2021 5:00-7:00 PM. o Final Exam – Date, time and location to be scheduled by the Registrar. B. Connect Homework Assignments

20%

To reinforce learning of concepts covered in class students will also work on homework assignments to be completed online using McGraw-Hill Connect. An access code for McGraw-Hill Connect comes free with a new textbook. These assignments must be completed by their respective due dates, as late submissions are NOT permitted C. Connect SmartBook Assignments

To encourage preparation ahead of class students will complete reading assignments using the McGraw-Hill Connect LEARN SMART platform. Due dates for these assignments are available on the Connect website. These assignments must be completed by their respective due dates, as late submissions are NOT permitted.

10%

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Grading System According to Mount Royal University policy, final grades will be reported by a letter grade corresponding to the percentage equivalents below: Percenta Letter 4.0 As per Academic Status – MRU Academic ges Grade Scale Calendar 2021-22 Excellent–Superior performance, showing 4.00 95-100 A+ comprehensive understanding of subject matter. 4.00 85-94 A A3.70 80-84 Good–Clearly above average performance with 3.30 77-79 B+ knowledge of subject matter generally complete. 3.00 73-76 B 2.70 70-72 BSatisfactory–Basic understanding of subject matter. 2.30 67-69 C+ 2.00 63-66 C 1.70 60-62 C55-59 1.30 Marginal performance–Generally insufficient D+ 50-54 1.00 preparation for subsequent courses. D 0-49 F 0.00 Fail–Assigned to students: Who do not meet the academic requirements of the course, or Who cease to continue in the course, but do not withdraw as per MRU policy. When determining percentages to apply the common Mount Royal University grading system (all courses are required to follow the percentage to alpha grade conversion table for final marks), professors within the Faculty of Business and Communication Studies use universal mathematical rounding to determine the percentage for marks falling between two letter grades. In other words, marks greater than 0.5 percentage points of the upper bracket will be rounded down to the lower letter grade, and marks equal to or lesser than 0.5 percentage points of the upper bracket will be rounded up to the higher letter grade. Course Schedule and Critical Dates Holidays and Closures: o

Labour Day – September 6

o

Thanksgiving Day – October 11

o

Fall Reading Break – October 12 – 15

o

Remembrance Day – November 11

o

Christmas and New Year’s closure – December 25 – January 3, 2022

Critical Dates (adjusted as per the Registrar’s Office)*: o

New Student Orientation – September 2 (Bissett) 7-8 (MRU)

o

First day of Fall semester classes – September 9

o

Add/Drop deadline – September 17

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o

September 30 – the University will remain open and classes will be scheduled; any deviation due to National Day for Truth and Reconciliation will be left to individual instructors

o

Final Exam schedule posted – October 20

o

Formal evaluation feedback (> 25% of total grade) date – November 15 (before the open of business)

o

Last day to withdraw with W grade – November 19

o

Last day of Fall semester classes – December 9

o

Final Exam period – December 11 – 22

Visit the MRU Academic Calendar for more information on dates and deadlines. *Registrar Adjusted dates do not appear in the online MRU Academic Calendar

TENTATIVE TIMETABLE (Subject to change without notice) Topic Week 1 September 7-10 First day of classes, September 9 Week 2:

Assignment

Grade Percentage

Friday, October 29 Midterm Exam 5:00 – 7:00 PM

30%

No class – self study Chapter 1: Managerial Accounting and the Business Environment

Chapter 2: Cost terms, concepts and Classifications

September 13-17 Week 3:

Chapter 5: Systems Design: Job order costing

September 20-24 Week 4: September 27 – October 1 Week 5: October 4-8 Week 6: October 11-15 Week 7: October 18-22 Week 8: October 25-29

Chapter 5: Systems Design: Job order costing (cont’d) Chapter 3, 3A: Cost Behaviour: Analysis and Use Chapter 3, 3A: Cost Behaviour: Analysis and Use Chapter 4: Cost-Volume-Profit Relationships Thanksgiving Monday (no classes) Reading Week (No Classes) Chapter 4: Cost-Volume-Profit Relationships (cont’d) Chapter 8: Variable Costing: A Tool for Management Chapter 8: Variable Costing: A Tool for Management (cont’d) Chapter 9: Budgeting

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Week 9:

Chapter 9: Budgeting (cont’d)

November 1-5 Week 10:

Chapter 10, 10B: Standard Costs and Variance Analysis

November 8-12 (no classes November 11) Week 11:

Chapter 10, 10B: Standard Costs and Variance Analysis (cont’d)

November 15-19 Week 12:

Chapter 11: Reporting for Control

November 22-26 Week 13:

Chapter 12: Relevant Costs for Decision Making

November 29 – December 3 Week 14:

Chapter 12: Relevant Costs for Decision Making (cont’d)

December 6-10 Last day of classes, December 9 N O T E : C H A P T E R S 6 A N D 7 A R E N O T C O V E R E D . O N LY T H E C H A P T E R A P P E N D I C E S S P E C I F I E D A B OV E A R E C O V E R E D . 1

A P P E N D I X 3 A I S AVA I L A B L E O N L I N E

* The final examination period is December 11 - 22, 2021.

Please review the Course Syllabus Policies and Student Resources document for additional important information.

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Welcome Back and Coronavirus (COVID-19) Information For information on returning to studies this Fall, including the implications of COVID19, follow this link https://www.mtroyal.ca/WelcomeBack/students.htm . The link includes an FAQ structured dialogue containing specific questions/guidance related to the implications of COVID-19.

Pedagogy Emphasis is placed on understanding through individual student study and classroom examples; lecture time is limited. Not all materials that students are expected to understand will be explicitly covered in lectures. Lectures will concentrate on areas considered more challenging or in which the course materials require application. In-class examples will be used to demonstrate the application of concepts and facilitate problem solving. Thus, classes will be predominately used to clarify, develop, and expand students’ knowledge of the material and its application in real world situations.

Email Etiquette – Emails must comply with the following to receive a response 1. Include your full name, course and section number in your message. 2. Use your Mount Royal University email for messages, as responses may not be received using other email services. 3. Your e-mail must contain an appropriate subject line. 4. Check your spelling and grammar. Slang is not appropriate. 5. Allow two (2) business days for a response, due to other activities, such as University committees, meetings, industry liaison, and scholarship and research. 6. A proper salutation must be utilized, such as: Hello, Hi, or Dear “Professor’s Name”. Slang or abbreviation of the professor’s name is not appropriate within an educational context. 7. Please do not send an email that says, “I wasn’t in class, did I miss anything?” This is not appropriate, as something important or at least useful and relevant occurs in each class. 8. Always check the Course Outline, Blackboard Site, and any other documents for the course for the information you are seeking, before sending your question. Emailing for clarification after you have read the available information is always welcome.

Faculty Standard Operating Procedures & Mount Royal University Policies It is incumbent to note that irrespective of whether or not specific MRU policies and procedures are expressly included in course outlines, all generally applicable MRU policies

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and procedures that relate to student and MRU employee course delivery obligations/entitlements/requirements are implicitly included in all course outlines. In light of our current course delivery context, specific awareness of the following MRU Policies and Procedures is provided to ensure student awareness/understanding. Any questions related to the implications of any MRU Policies/Procedures, including the following, should be raised by students with their instructor.

1.

Recording and Distribution of Academic Presentations and Materials Policy

a. Recording and Distribution of Academic Presentations and Materials Procedures

2.

Copyright Materials Policy

3.

Intellectual Property Policy

a. Intellectual Property Procedures Users, including any recorded student participants, are advised that the personal information collected during the recordings will only be used for educational purposes and is collected under the authority of the FOIP Act – section 33(c) and the Post-Secondary Learning Act in the Province of Alberta. Users are further advised that the downloading of posted videos other than for the purposes of student personal learning through Blackboard, may violate the copyright of the course instructor or others. For additional questions regarding the collection, use, disclosure and protection of personal information please contact: Janice Illsey, [email protected] 4.

Instructor to insert any noteworthy policies/procedures in light of the above and deemed necessary given the specific course …

Examinations

Mid-term Examinations o

o

o

o

The professor has the authority to grant or deny a deferred mid-term examination. Under no circumstances will a deferred examination be granted after the student has written the original examination. A student who is unable, for a valid reason, to write a midterm examination at the scheduled time may apply to the professor for a deferred examination. Valid reasons for requesting deferral of a mid-term examination include, but are not restricted to: personal illness, bereavement, personal injury, unavoidable and unanticipated demands in caring for dependents, and other compelling reasons that are outside the student’s control may be considered. The application for a deferred mid-term examination must be supported by the appropriate documentation and the professor must be informed in writing, by email or by phone WITHIN 24 HOURS of the scheduled examination.

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o

o

If you do not meet these requirements and misses a midterm examination, you will receive a ZERO (0) mark for the examination If the student does meet the requirements for a deferred examination, a date will be set in consultation with the professor for the deferred examination to be written.

Final Examinations o

o

o o

Final Examinations dates are set by the Registrar. Students MUST BE AVAILABLE to write final examinations up to and including the last day of the examination period as specified in the Academic Schedule in the Mount Royal University Calendar. Students should be fully aware of the Mount Royal University policy on final examination deferrals as outlined under Academic Regulations in the Mount Royal University Calendar. Examinations will be conducted in the manner as prescribed by the professor. Students may only bring to the examination items stipulated by the professor as required for the completion of the examination.

Requests for deferred final examinations must be approved by the chair of the academic unit, no exceptions. Student Concerns: If a student has any concerns about their course, they should contact and speak with their professor about the matter first. If the matter is not resolved through discussions with their professor, the student should contact the program chair. Note to all students: All cell phones, smart phones, computers, iPod-type devices and other electronic devices MUST be turned off during examinations unless otherwise authorized. Failure to comply may result in a failing grade on the examination for the offending student and the offending student may be made the subject of academic misconduct proceedings.

Academic and NonAcademic Misconduct

Students are required to respect the standards of academic integrity and maintain conduct that promotes the safety and well-being of all members of the Mount Royal University community. Academic integrity and rigor are fundamental elements of a postsecondary education and are grounded values that include honesty, trust, fairness, respect and responsibility. Mount Royal University and Faculty of Business and Communication Studies requires that its faculty, staff, and students maintain these values and model ethical leadership and personal integrity in all university associated activities. In the online environment, measures will be put in place to safeguard the integrity of online assessments and the intellectual property of professors. Academic integrity and rigor require that students refrain from conduct that includes, but is not limited to, plagiarism, cheating or copying someone else’s work.

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“Plagiarism consists of using other people’s words or ideas without adequately acknowledging the source of those words or ideas. Plagiarism can take many forms: stealing an entire essay and submitting it as one’s own work; quoting parts of a source without acknowledging that source; quoting parts of a source without quotation marks (even if the source is listed in the Works Cited list); too few in-text citations compared to the amount of information used; incorrect, incomplete, or missing documentation elements. Penalties for plagiarism can range from a reduction in the assignment grade to expulsion from the [university]” –with thanks to Bill Bunn, Department of English, Mount Royal Non-academic misconduct includes conduct that threatens the safety or well-being of any member of the Mount Royal University community or any conduct that seriously and adversely affects the University or its mission. In addition, students are expected to take an active role in encouraging other members of the academic community to refrain from academic and non-academic misconduct, and are asked to advise the professor if they are aware of any such violations. This provision applies to any work submitted as a group project. Students are strongly recommended to read all information regarding academic and non-academic misconduct, and student conduct generally, which can be found on-line at: http://www.mtroyal.ca/CampusServices/CampusResources/Stu dentConduct/index.htm

Correctness

All readers of workplace and industry documents expect correct grammar, punctuation, spelling, and word usage. Based on this expectation, all graduates of the Faculty of Business and Communication Studies are expected to be competent in this area and maintain a minimum correctness for all written work submitted for academic course credit. This minimum standard applies to spelling, grammar, punctuation, and word usage, but may also apply to other elements deemed important by your professor. Specified details relating to requirements surrounding written work will be discussed in class by your professor and may include the following examples of correctness requirements: o Sentence structure: fragments, fused sentences, comma splices. o Agreement: subject-verb and pronoun-antecedent. o Spelling, word usage, and Standard English usage. The same word misspelled repeatedly constitutes one error. o Comma usage. o Semicolon and colon usage. o Apostrophe usage. Repeated misuse of the apostrophe in the same word constitutes one error.

Mount Royal University Policies

Please refer to the following sections in the current Mount Royal University Calendar, o Academic Schedule o Change of Registration

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o o o

Course Withdrawals

Fees and Deposits Academic Regulations (including Deferred Examination and Academic Appeals and Grievances) General Graduation Requirements

Students who wish to drop/add courses or withdraw from a course must submit the appropriate forms by the deadline dates set out below.