CB2101 - Overview of the course PDF

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Overview of the course...

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City University of Hong Kong Information on a Course offered by Department of Accountancy with effect from Semester A in 2014 / 2015 Part I Course Title: Introduction to Managerial Accounting Course Code: CB2101 Course Duration: 1 semester Credit Units: 3 Level: B2 Medium of Instruction: English Prerequisites: Nil Precursors: FB2100/CB2100 Accounting I/Introduction to Financial Accounting Equivalent Courses: FB2101/AC2101 Accounting II Exclusive Courses: Nil

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Part II Course Aims This course aims to: 1. provide students with basic knowledge of management accounting for a career in business as well as being a foundation for advanced management accounting courses. Basic management accounting knowledge includes: technical knowledge in identifying, evaluating and computing costs by applying various tools of management and product costing systems for strategic decision-making; preparing reports and analyzing strategic planning and management performance in order to enhance decision making; and 2. extend knowledge of inventory valuation gained in CB2100 to cover inventory valuation in a manufacturing company.

Course Intended Learning Outcomes (CILOs) Upon successful completion of this course, students should be able to: No.

1. 2.

3.

4. 5.

CILOs

Weighting DEC-related (if dimension applicable) VALUE inventory in a manufacturing company -using normal job-order costing. MAKE business decisions, including: -Ability/ Attitude USE relevant costs in decisions of make or buy, accept or reject a special order, drop or keep a segment, utilization of a constrained resource; APPLY break-even analysis in a single-product company to make decisions on pricing, volume and cost reduction. CREATE a budget and ANALYZE deviations -from budgeted expenses using analysis of expense variances. EXPLAIN how management accounting is used -in performance evaluation. CRITICALLY EVALUATE important recent -innovations in management accounting, e.g., activity-based costing

Ability/ Attitude

DEMONSTRATE and APPLY ethical concepts in selected management accounting situations.

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Teaching and Learning Activities (TLAs) (Indicative of likely activities and tasks designed to facilitate students’ achievement of the CILOs. Final details will be provided to students in their first week of attendance in this course) CILO No. CILO 1 CILO 2 CILO 3 CILO 4 CILO 5

TLAs

CILO 1 CILO 2 CILO 3 CILO 4 CILO 5

TLA2: TLA2: 1.5-2 hours Brief lectures will illustrate important concepts, mainly by providing examples, both hypothetical and actual.

CILO 1 CILO 2 CILO 3 CILO 4 CILO 5

TLA3: TLA3: 6-9 hours Group project: Students will complete a group project related to a selected topic on management accounting. *

TLA1: Numerical Examples and Problems are the most important activity in this class. The lecturer and/or tutor will demonstrate how to solve problems. In addition, students will solve numerical exercises in class, and will undertake more complex problems as homework.

Hours/week (if applicable) TLA1: 1-1.5 hours

* DEC TLA element

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Assessment Tasks/Activities (Indicative of likely activities and tasks designed to assess how well the students achieve the CILOs. Final details will be provided to students in their first week of attendance in this course) CILO No.

Type of Assessment Tasks/Activities

CILO 1 CILO 2 CILO 3 CILO 4 CILO 5

AT1, AT2, AT3, AT4 AT1, AT2, AT3, AT4 AT1, AT2,AT3, AT4 AT1, AT2,AT3, AT4 AT1, AT2,AT3, AT4

Weighting Remarks (if applicable) Tests (AT2) are based on the CILOs covered before the test.

Examination: 50% (a 3-hour examination) AT1 Final Examination (50%): The final examination is comprehensive and will include numerical problems, theories and conceptual issues. Coursework: 50% AT2 Tests (30%-40%): At least one test prior to the final examination will include numerical problems, and will be of a similar format and level of difficulty as the final examination. AT3 Online Assignments (5%-15%): At least TWO online assignments on the CONNECT website to assess students’ ability to answer questions on topics covered in the syllabus. AT4 Group Project (5%-15%): Students will be assigned a group project on a selected topic in management accounting. * *DEC AT element Students are required to pass both coursework and examination components in order to pass the course.

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Grading of Student Achievement: Holistic Grading (Rubrics) CILO No. CILO 1

Excellent (A+, A, A-) Able to compute, explain, analyze and apply normal job-order costing system; value the product costs for decision making.

Good (B+, B, B-) Able to identify, compute and apply techniques of job-order costing; value the product costs for decision making.

Adequate (C+, C, C-) Able to identify and use some techniques of job-order costing; value the product costs.

Marginal (D) Able to use a few techniques of job-order costing; value the product costs.

CILO 2

Able to explain and analyze all costs in production; apply, develop and explain various quantitative techniques and methods, break-even analysis and differential analysis; generate useful variable cost information for managerial decision.

Able to identify most costs in production; apply, develop and describe some quantitative techniques and methods, break-even analysis and differential analysis for managerial decision.

Able to identify some costs in production; use, develop and briefly describe basic quantitative techniques, break-even analysis and differential analysis.

Able to identify some costs in production; use and develop basic quantitative techniques, break-even analysis and differential analysis.

CILO 3

Able to compute, explain and analyze variances; make constructive recommendations on the performance.

Able to compute all variances and explain the performance.

Able to compute some variances and interpreting the performance.

Able to compute some variances.

CILO 4

Able to explain, analyze and apply the concepts of responsibility accounting; compute and evaluate all performance measurements in decentralized firms.

Able to describe and identify the concepts of responsibility accounting; compute and describe most performance measurements in decentralized firms.

Able to briefly describe and identify the concepts of responsibility accounting; compute some performance measurements in decentralized firms.

Able to identify the concepts of responsibility accounting; compute a few performance measurements in decentralized firms.

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CILO No. CILO 5

Excellent (A+, A, A-) Able to explain, analyze and apply balanced scorecard concepts in strategic management; and activity-based costing techniques in interpreting and computing product costs. Able to demonstrate and apply ethical concepts in all of the selected management accounting situations.

Good (B+, B, B-) Able to explain and analyze balanced scorecard concepts in strategic management; and activity-based costing techniques in explaining and computing most product costs. Able to demonstrate and apply ethical concepts in most of the selected management accounting situations.

Adequate (C+, C, C-) Able to explain balanced scorecard concepts in strategic management; and activity-based costing techniques in describing and computing some product costs. Able to demonstrate and apply ethical concepts in some of the selected management accounting situations.

Marginal (D) Able to explain some balanced scorecard concepts in strategic management; and activity-based costing techniques in computing a few product costs. Able to demonstrate and apply ethical concepts in a few of the selected management accounting situations.

Part III Keyword Syllabus Management accounting; manufacturing inventory; job-costing system; budget; analysis; variance analysis; performance measurement.

break-even

Recommended Reading Text(s) The course will use an introductory textbook that targets non-accounting majors. Suggestions: 1.

Needles, B.E. and Crosson, S.V., “Managerial Accounting”, Latest Edition, Boston, Mass: Houghton Mifflin Company.

2.

Weygandt, J.J., Kieso, D.E. and Kimmel, P.D., “Managerial Accounting: Tools for Business Decision-making”, Latest Edition, Hoboken, NJ: John Wiley & Sons.

3.

Garrison, R.H., Noreen, E.W. and Brewer, P.C., “Introduction to Managerial Accounting”, Latest Edition, London: McGraw-Hill.

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Online Resources 1.

Blackboard site for the course.

2.

The Chartered Institute of Management Accountants (CIMA) – UK. www.cimaglobal.com

3.

Certified Management Accountants (CMA) – Canada. www.cma-canada.org

4. Institute of Management Accountants (IMA) – USA. www.imanet.org

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