ACCT 302 Accounting for management

Miller-Nobles, Tracie L., Mattison, Brenda L., Matsumura, Ella Mae Horngren’s Financial & Managerial Accounting, 5th Edition 2016, published by Pearson
ISBN-13: 978-0133851250
ISBN-10: 0133851257

Students can obtain this text book from the following source:

https://www.pearson.com/store/p/horngren-s-financial-managerial-accounting-the-managerial-chapters/P100002921438/9780136879350
All reading and (optional) homework assignments referenced in this syllabus refer to this text

1) In addition, it is recommended that all students have access to MyAccountingLab®, by Pearson. This can be accessed here:
http://www.mypearsonstore.com/bookstore/myaccountinglab-with-pearson-etext-instant-access-for-0133877612

2) The following study guides will be made available upon enrollment:
Miller-Nobles, Tracie L., Mattison, Brenda L., Matsumura, Ella Mae PowerPoint Presentation for Financial Accounting to accompany Horngren’s Financial & Managerial Accounting, 5th Edition 2016, published by Pearson
Miller-Nobles, Tracie L., Mattison, Brenda L., Matsumura, Ella Mae PowerPoint Problem Sets for Financial to accompany Horngren’s Financial & Managerial Accounting, 5th Edition 2016, published by Pearson

Lesson Overview

Lesson 1: Introduction to Managerial Accounting
Read Chapter 16
Homework: Do selected accounting problems at end of chapter

This lesson examines why managerial accounting is important. Students will learn about how it differs from financial accounting and how service, merchandising, and manufacturing companies are different. The students learn how costs are classified and how manufacturing companies determine the cost of manufactured products. The students examine how managerial accounting is used in service and merchandising companies.

Lesson 2: Job Order Costing
Read Chapter 17
Homework: Do selected accounting problems at end of chapter

In this lesson the students examine how manufacturing companies use job order and process costing systems. Students will look at how materials and labor costs flow through the job order costing system. The students examine how overhead costs flow through the job order costing system. The students learn how to transfer costs to the finished goods inventory and the cost of goods sold. The students look at how the manufacturing overhead account is adjusted. The students look at how service companies use the job order costing system.

Lesson 3: Process Costing
Read Chapter 18
Homework: Do selected accounting problems at end of chapter

In this lesson students examine how costs flow through a process costing system. The students learn how to calculate equivalent units of production. The students learn how to prepare a production cost report and how to make journal entries in a process costing system. The students examine if the production cost report can be used to make business decisions. The students learn how to prepare a production cost report using the weighted average and FIFO methods.

Lesson 4: Cost Management Systems: Activity-Based, Just-In-Time, and Quality Management Systems
Read Chapter 19
Homework: Do selected accounting problems at end of chapter

In this lesson students learn about how companies assign and allocate costs. The students examine how and activity-based costing system is developed and if it can be used in business decision making. The students look at how just-in-time management systems work and how to use a quality management system.

Lesson 5: Cost-Volume-Profit Analysis
Read Chapter 20
Homework: Do selected accounting problems at end of chapter

In this lesson students look at how costs behave when there is a change in volume with respect to variable costs, fixed costs, and mixed costs. The students learn to calculate the contribution margin and how to use it to compute operating income. The students look at how cost-volume-profit (CVP) analysis is used for profit and sensitivity analysis. The students look at how CVP can be used for analyzing safety and leverage.

Lesson 6: Variable Costing
Read Chapter 21
Homework: Do selected accounting problems at end of chapter

In this lesson the students look at how variable costing differs from absorption costing with respect to operating income. The students look at how variable costing can be used for decision making in both manufacturing and service companies.

Lesson 7: Master Budgets
Read Chapter 22
Homework: Do selected accounting problems at end of chapter

In this lesson the students look at managing budgets and budgeting procedures. The students explore strategic and operational budgets. The students learn how operating and financial budgets are prepared for merchandising and manufacturing companies. The students learn about how the current information technology can be used in the budget process and how to use budgeting software.

Lesson 8: Flexible Budgets and Standard Cost Systems
Read Chapter 23
Homework: Do selected accounting problems at end of chapter

In this lesson the students look at how managers use budgets standard cost systems to control business activities. The students learn to write performance reports using both static and flexible budgets. The students also look at how standard costs are used to determine direct material and direct labor variances as well as to determine manufacture overhead variances. The students explore the relationship among the product cost variances and who is responsible for them. The students learn how to make journal entries in standard cost systems.

Lesson 9: Responsibility Accounting and Performance Evaluation
Read Chapter 24
Homework: Do selected accounting problems at end of chapter

In this lesson the students learn why decentralized companies need responsibly accounting. The students also learn how a performance evaluation system is used and how responsibility accounting can be used to evaluate performance in cost, revenue and profit centers, as well as other centers. The students also examine how transfer prices affect decentralized companies.

Lesson 10: Short-Term Business Decisions
Read Chapter 25
Homework: Do selected accounting problems at end of chapter

In this lesson the students learn about how relevant information is used to make short term decisions. The students look at how pricing can affect short term decisions and how managers decide which products to produce and sell. The students also examine how managers make outsourcing and processing further decisions.

Lesson 11: Capital Investment Decisions
Read Chapter 26
Homework: Do selected accounting problems at end of chapter

In this lesson the students examine the capital budgeting process with a focus on cash flows. The students learn about the payback and accounting rate of return (ARR) methods. The students examine the time value of money and calculate present values of lump sums and annuities. The students learn about how discounted cash flow methods work. The students learn to calculate the net present value (NPV) and the internal rate of return (IRR). The students learn about sensitivity analysis and capital rationing.

The student’s final grade will be based on a final examination. Examination questions will cover all topics covered in the readings. Students will have two hours to complete the final examination.  Students will be assigned a number grade from 0-100. A letter grade will also be issued in accordance with the following scale:

90-100 – A
80-89 – B
70-79 – C
0-69 – non passing