GENERIC
COURSE SYLLABUS
I. Course Course
Course
Prefix Number Name Credit Lecture Lab
ACC 245 Cost
Accounting 3 3 0
II. Course Prerequisite:
Recommended: ACC 154
III. Course Description:
Course
presents advanced discussion of cost accounting and provides in-depth study of
additional concepts/techniques beyond scope of ACC 154. Content includes application of cost concepts in
manufacturing under differing costing methods, with focus on job, process,
standard, variable and activity based costing.
Short-term and long-term decision techniques with focus on
cost-volume-profit analysis, incremental analysis and capital budgeting. Additional content includes inventory
control, JIT, cost allocation methods and decentralization issues with transfer
pricing. Assignments incorporate
computerized spreadsheeting.
IV. Learning Objectives:
Upon successful completion of this course, the student
should demonstrate the ability to:
A. Define
the accounting terms applicable to a manufacturing industry.
B. Prepare
an income statement for a manufacturer showing, in detail, the sum of the
various inventories in determining Cost of Goods Sold.
C. Use job
order cost, process cost and standard cost systems.
D. Allocate
the manufacturing costs to the products under all three of the above methods.
E. Properly
classify costs as variable, mixed, and fixed.
F. Calculate
and apply standard costs for jobs and to compute the variances from standard to
actual.
G. Allocate
joint costs and by product costs to the products produced.
H. Prepare
various forms of budgets (cash, production, purchases, capital, etc.)
I. Determine
income effects of alternative product costing methods.
J. Use
cost-volume-profit analysis.
K. Define
relevant costs and use capital budgeting in deciding whether to make or buy,
sell or lease, etc.
L. Understand
decentralization issues and transfer pricing.
V. Academic
Integrity:
Students
and employees at
·
cheating,
·
plagiarism
(turning in work not written by you, or lacking proper citation),
·
falsification
and fabrication (lying or distorting the truth),
·
helping
others to cheat,
·
unauthorized
changes on official documents,
·
pretending
to be someone else or having someone else pretend to be you,
·
making
or accepting bribes, special favors, or threats, and
·
any other behavior that violates
academic integrity.
There
are serious consequences to violations of the academic integrity policy.
Oakton’s policies and procedures provide students a fair hearing if a complaint
is made against you. If you are found to
have violated the policy, the minimum penalty is failure on the assignment and,
a disciplinary record will be established and kept on file in the office of the
Vice President for Student Affairs for a period of 3 years.
Details
of the Code of Academic Conduct can be found in the Student Handbook.
VI. Outline
of Topics:
- In Example -
A. Basic
Concepts, Functions of Managerial Accounting Systems, Cost Terms, Cost of Goods
Manufactured.
B. Cost-Volume-Profit
Analysis, Contribution Margin Approach.
C. Standard
Costs: Direct Material and Direct Labor Variances.
D. Standard
Costs and Flexible Budgeting for Overhead:
Variable and Fixed Overhead Variances.
Denominator Levels, and Prorations.
E. Capital
Budgeting and Present Value Concepts, Payback, Rate of Return and BET.
F. Inventory
Planning and Control, EOQ, JIT, MRP, Lead-Time and Safety Stock. Also, other DCF Topics.
G. Cost
Allocations: Direct, Step and Reciprocal
Methods. Controllability
Issues.
H. Joint-Product
and By-Product Costs.
I. Job
Costing Systems in Manufacturing.
J. Activity-Based
Costing.
K. Process
Cost Systems: Weighted Average, FIFO,
Standard Costing.
L. Process
Costing With Normal and Abnormal Spoilage.
M. Responsibility
Accounting and Controllability.
N. Goal
Congruence, Motivation, Evaluation
O. Decentralization,
Transfer Pricing,
P. Strategic
Control Systems, Quality, Time and Cost.
VII. Methods
of Instruction:
--In Example--
A. Lecture
and Discussion
B. Problem
Solving
C. Case
Problems
VIII. Course Practices Required:
--In Example--
A. Reading,
writing at college level.
B. Participation
in class discussions.
IX. Instructional
Materials:
--In
Example--
Text: Cost
Accounting: A Managerial Emphasis,
Horngren, Datar & Foster, 13th Edition
X. Methods
of Evaluating Student Progress:
--In Example--
A. Four
Tests (100 points each)
Final
Exam (200 points each)
Homework (6 points each)
Quizzes (10 points each)
Projects/Cases
(50 points each)
Attendance
is considered if a student is between grades
B. A point
scale based on a total possible points.
90 - 100% = A
80
- 89% = B
70
- 79% = C
60
- 69% = D
59%
& Below F
XI. Other Course Information
If
you have a documented learning, psychological, or physical disability, you may
be entitled to reasonable academic accommodations or services. To request accommodations or services,
contact the ASSIST office in the
Effective
beginning term Summer
2006 ending term
(term) (year) (term) (year)
Syllabus
prepared by: Jay Cohen
Reviewed by
Dept/Program chair: Jay Cohen
Approved by
Dean: Bradley P. Wooten May 2006