Finance Course Outline PDF

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Course outline for finance taken in 2021/2022...

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ACCT112 Management Accounting Course Outline 2020/2021 Term 2

A. Instructor and Contact Information Kelly NGO Tel: (65) 6828 0617 Email: [email protected] Office: SOA 5047 Instructor’s Consultation: 1. Physical meeting: Appointment through email or phone 2. Direct email 3. Telegram group chat (look out for more details later on elearn) Teaching Assistants: G7 (Tue 8.15am @SOA SR3-1): Cheong Yan Keat [[email protected]] G8 (Tue 3.30pm @SOA SR2-5): Shu Jun Hao [[email protected]] B. Course Prerequisites Although there is no pre-requisite for this course, students MUST have basic knowledge of financial accounting terms (e.g. understanding of "asset", "liability", "equity", "income statement", "balance sheet", "revenue", "expense", "depreciation", etc.) and concepts (e.g. "debits", "credits", double entry system). Thus it is recommended that students have completed Financial Accounting. In addition, students are encouraged to acquire fundamental skills in Excel as this will be used in the course. C. Course Description This course introduces cost and management accounting topics to enable students to understand how accounting information is used to manage an organization. The course focuses on how management accounting information helps managers plan, direct, control and make decisions within an organization. Various cost concepts will be covered in this course, and students will understand that different costs concepts are used for different purposes, according to the immediate needs of management. In addition, the concept of management-how senior managers plan, implement and control those plans-through people will be briefly discussed. The course will enhance students’ personal skills in preparation for more advanced courses at the university in the following ways: working in teams, analyzing cases, writing reports, and making presentations. D. Learning Approach and Course Objectives The pedagogical approach to this course consists of three interlocking elements: § Instructor-facilitated Learning: Facilitation, Clarification, Synthesis § Individual Learning: Preparation, Analysis, Action § Collaborative Learning: Teamwork, Discussion, Sharing Learning activities are planned to take into account these three elements of learning. Both the technical learning and skills objectives will be developed through a blend of theory and practice.

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An understanding of basic management accounting knowledge on elementary concepts to be covered in the first few classes is important for subsequent studies of the subject. Thus it is important for students to ensure their learning and understanding through active in class participation and self-practice on exercises. Each topic will start with a session on basic technical knowledge, followed by practice using exercises, discussions and other class materials to enforce students’ understanding of the topic. The role of the instructor is to facilitate, provide clarification of critical concepts and guide students to acquire fundamental concepts and the skills to adapt and adopt such concepts into practice and future applications. Often, it is important to be able to see the “trees from the forests” and synthesise on why certain things matters are just as important as how specific processes/procedures are performed. Students are reminded that their individual contribution to learning starts before class. Students should prepare by pre-reading, analysing the materials/tasks/cases to be covered before coming to class and actively participate in class discussions. Preparation is the prerequisite for analysis which will allow you to take action in your individual learning. Collaborative learning elements are developed through your contribution to your classmates learning experiences, either through teamwork in your project or other assigned tasks, and being willing to contribute to class and forum discussions and share your findings and work so others will benefit. Naturally, your individual preparation, analysis and action will determine how much you are able to contribute to collaborative learning. This course contributes to the development of the following specific learning goals based on the SOA AACSB accreditation: • • •

LO1.2 Our students can analyze, synthesize and evaluate financial and other related information for decision making in a management context. LO2.2 Our students can communicate effectively in a business context. LO3.1 Our students understand and can apply the ethical principles relevant to accounting professionals.

E. Textbook and Other Resources Garrison, Ray H., Noreen, Eric W., Brewer, Peter C., Cheng, Nam Sang and Yuen, C.K. Katherine Managerial Accounting, Asia Global Edition 2e, McGraw-Hill 2015 OR Garrison, Ray H., Noreen, Eric W. and Brewer, Peter C. - Managerial Accounting, International Student Edition 17e, McGraw-Hill 2021 SUPPLEMENTARY TEXTS •

Horngren, Sundem, Stratton, Burgstahler and Schatzberg - Introduction to Management Accounting 16th Edition, Global Edition, Pearson 2014

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Hilton and Platt – Management Accounting – Creating Value in a Dynamic Business Environment, 11th Edition, Global Edition, McGraw-Hill 2017.

ADDITIONAL REFERENCES: •

Young, S Mark - Readings in Management Accounting, 6th edition, Prentice Hall 2012

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Newspaper: Students are encouraged to read “The Business Times” and/or The Wall Street Journal. Other than the prescribed reading materials, students are encouraged to read any material that may be relevant to their field of studies. F. Lesson Plan Class sessions are of 3-hour duration and will include a review of study materials, class discussions and other learning activities. Course materials will be published in SMU e-Learn (https://elearn.smu.edu.sg/). A brief outline of course schedule is provided below. A detailed course work plan is available in Annex 1. § Cost behaviour § Budgeting § Break-even analysis for single and multi- § Flexible budgets and variance analyses § Cost allocations of service departments product § Absorption costing and variable costing § Balanced Scorecard § Activity-based costing § Differential costing § Job-order costing § Capital budgeting § Process costing § Transfer pricing § Responsibility accounting G. Assessment To pass the course, a student is required to obtain a TOTAL mark of 50% or better. The assessment components are listed below: Preparation and Class Learning Activities (10%), Progress Assessments (25%), Team Project (15%) and Final Examination (50%). 1. Preparation & Class Learning Activities (10%) Students are strongly encouraged to actively participate in class and forum discussions (if applicable) as well as presentations. Students will be graded on an individual basis according to their contribution to the class participation, forum discussion and in class presentations (if applicable). Pre-class reading and completion of post class homework form part of the preparation marks. Instructor may give unannounced quizzes and check students’ class attendances and preparations from time to time. In this respect, students should come well prepared for every session and on time throughout the term. 2. Progress Assessments (25%) There will be 2 tests. Test 1 constitutes 10% and will be conducted on Saturday February 27, 2021, from 9:00 – 10:30. Test 2 constitutes 15% and will be conducted on Saturday March 27, 2021, from 9:00 – 10:30. There will be no make-up test for absentees. If you have to miss a test due to valid reasons beyond your control, bring necessary documents to prove it to your instructor. Subject to your instructor’s approval and potential penalty, the score of your missing test may be adjusted by increasing the weight to the final exam. Be sure to bring a calculator (non-programmable/non-graphical calculator) to the tests. In accounting tests and exams, students often compete not only in how well you understand the materials but also in how quickly you can recall and use the materials in solving problems. After reading chapter readings, students are strongly encouraged to gauge their level of understanding by solving as many exercises and problems as possible.

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3. Team Project (15%) You need to form teams for your project/assignment. Your instructor will provide details of the team project in due course. 4. Final Examination (50%) The final examination will be a 3 hour, closed book paper, which may consist of multiple-choice questions, fill-blank questions, and problem questions. If you miss the final examination, you cannot complete the course and will have to take the exam in the next term provided that you have a valid reason. Be sure to bring a calculator (non-programmable/non-graphical calculator) to the final examination. No questions verbatim from past year papers or published test banks will be used for the graded continuous assessments and examinations in the course. H. Academic Integrity All acts of academic dishonesty (including, but not limited to, plagiarism, cheating, fabrication, facilitation of acts of academic dishonesty by others, unauthorized possession of exam questions, or tampering with the academic work of other students) are serious offences. All work (whether oral or written) submitted for purposes of assessment must be the student’s own work. Penalties for violation of the policy range from zero marks for the component assessment to expulsion, depending on the nature of the offense. When in doubt, students should consult the instructors of the course. Details on the SMU Code of Academic Integrity may be accessed at https://oasis.smu.edu.sg/Pages/DOS-WKLSWC/UCSC.aspx. I. Copyright Notice Please note that all course materials are meant for personal use only, namely, for the purposes of teaching, studying and research. You are strictly not permitted to make copies of or print additional copies or distribute such copies of the course materials or any parts thereof, for commercial gain or exchange. For the full copyright notice, please visit: https://smu.sg/Copyright-notice or OASIS -> CAMPUS LIFE & EXCHANGE -> CONDUCT & DISCIPLINE -> UNIVERSITY COUNCIL OF STUDENT DISCIPLINE

J. Accessibility SMU strives to make learning experiences accessible for all. If you anticipate or experience physical or academic barriers due to disability, please let your instructor know immediately. You are also welcome to contact the university's disability services team if you have questions or concerns about academic provisions: [email protected]. Please be aware that the accessible tables in our seminar room should remain available for students who require them. K. Emergency Preparedness for Teaching and Learning (EPTL) As part of emergency preparedness, instructors may conduct lessons online via either the Zoom or WebEx platform during the term, to prepare students for online learning. During an actual emergency, students

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will be notified to access the Zoom or WebEx platform for their online lessons. The class schedule will mirror the current face-to-face class timetable unless otherwise stated.

Prepared by:

Prasart JONGJAROENKAMOL An-Ping LIN Kelly NGO September 2020

Vetted by:

SEOW Poh Sun 12 October 2020

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