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									                         PRINCIPLES OF MANAGERIAL ACCOUNTING
                                       ACCT 2223
                                      SPRING 2010
                                  TH 9:40 – 11:00 A.M.
                                        BBC 304

                                        COURSE SYLLBAUS

Becky L. Phillips, Instructor
Office 312A                                 Email:
Phone: 870-460-1111                      

OFFICE HOURS:           MWF            9:30 – 11:30 a.m.
                        TH             1:00 – 3:00 p.m.

Text:                   Accounting: Tools for Business Decision Making
                        Third Edition; Paul D. Kimmel, Jerry J. Weygandt, and
                        Donald E. Kieso

Course Description:     Accounting information as it relates to the needs of business managers,
                        product costing, standard costs, budgeting and variance analysis,
                        and decision making.

Attendance:             You are expected to attend class every day! I am required to keep
                        attendance records for the Office of Academic Affairs/or the
                        Registrar’s office. I have the right to give in-class assignments
                        without notice. These assignments will not be made up if you
                        are absent, resulting in a zero for the assignment. There are 50 points
                        included in your grade for attendance. I will deduct 5 points for every
                        unexcused absence. If you miss more than 10 days you will have a
                        negative number included in your grade at the end of the semester.

Homework:               Homework should be prepared neatly and turned in at the beginning
                        of class. Homework will not be accepted late for
                        any reason!!! Homework is a significant portion of your grade and
                        therefore should be completed to the best of your ability.

Cheating:               Cheating will not be tolerated for any reason. If you are caught
                        cheating on an exam or any other in-class assignment you will
                        receive a zero for that exam/assignment. No headphones or
                        earphones are allowed in class during an exam or at any other
Page 2

Cell Phone Policy:           All cell phones are to be turned off and put away during class time.
                             If you are expecting an important phone call, please contact me
                             before class begins and I will give you permission to leave your
                             phone on. If you are caught with your cell phone during an exam
                             you will receive a zero for that exam. Texting will not be tolerated.

Grading:              Exam I                100
                      Exam II               100
                      Exam III              100
                      Exam IV               100
                      Final                 150
                      Attendance             50
                      Homework              100
                      Total Points          700

                      90% or more           A
                      80-89                 B
                      70-79                 C
                      60-69                 D
                      Below 60              F

Students with Disabilities:
It is the policy of the University of AR at Monticello to accommodate individuals with disabilities pursuant to
federal law and the University’s commitment to equal educational opportunities. It is the responsibility of the
student to inform the instructor of any necessary accommodations at the beginning of the course. Any
student requiring accommodations should contact the Office of Special Student Services located in Harris Hall
Room 120; phone 870 460-1026; TDD 870 460-1626; Fax 870 460-1926.

For assistance on a College of Technology campus contact:
McGehee: Office of Special Student Services representative on campus; phone 870 222-5360; fax 870 222-
Crossett: Office of Special Student Services representative on campus; phone 870 364-6414; fax 870 364-
AA Doc. 1/05/09

Statement on disruptive behavior: The following action is prohibited under the Student Conduct Code:
Disorderly Conduct: Any behavior which disrupts the regular or normal functions of the University community,
including behavior which breaches the peace or violates the rights of others.
Important Dates:

January 13                  First day of classes (regular and first 8-week fast-track classes*).
January 13-20               Late registration. A $25 late registration fee will be assessed.
January 13-20               Students may make schedule changes.
January 18                  Martin Luther King Holiday. Offices and classes closed.
January 20                  Last day to register or add spring classes.
February 2                  Last day to drop with W in first 8-week fast-track* classes.
March 3                     Deadline to apply for August and December graduation.
March 3                     Last day to withdraw from first 8-week fast-track* classes.
March 8                     Last day of first 8-week fast-track* classes.
March 9                     First day of second 8-week fast-track* classes.
March 22-26                 Spring break.
April 5                     Preregistration for summer and fall begins.
April 7                             Last day to drop with W in regular classes.
April 16                    Preregistration for summer and fall ends.
April 21                    Last day to drop with W in second 8-week fast-track* classes.
April 29                    Last day to withdraw from class (regular and second 8-week fast-
                            track* classes).
May 4                       Last day of classes.
May 5-11                    Final Exams.
May 14                      Commencement
*Fast—track classes meet daily (M-f) and run for approximately 8 weeks.

Chapter 14   Explain the distinguishing features of managerial accounting.

             Identify the three broad functions of management.

             Define the three classes of manufacturing costs.

             Distinguish between product and period costs.

             Explain the difference between a merchandising and a manufacturing income
             statement and balance sheet.

             Indicate how costs of goods manufactured is determined.

Chapter 15   Explain the characteristics & purposes of cost accounting.

             Describe the flow of costs in a job order costing system.

             Explain the nature and importance of a job cost sheet.

             Indicate how the predetermined overhead rate is determined and used.

             Prepare entries for jobs completed and sold.

             Distinguish between under- and overapplied manufacturing overhead.

Chapter 16   Understand the basic principles of a process cost system.

             Make the journal entries to assign manufacturing costs in a process cost

             Compute equivalent units

             Prepare a production cost report.

Chapter 17   Recognize the difference between traditional costing and activity-based

             Identify the steps in the development of an activity-based costing system.

             Know how companies identify the activity cost pools used in ABC Systems.

             Know how companies identify and use cost drivers in ABC systems.

             Differentiate between value-added and non-value added activities.

Chapter 18   Distinguish between variable and fixed costs.

             Explain the significance of the relevant range.

             Explain the concept of mixed costs.

             List the five components of cost-volume-profit analysis.
             Indicate what contribution margin is and how it can be expressed.

             Identify three ways to determine the break-even point.

             Give the formulas for determining sales required to earn target net income.

             Define margin of safety, and give the formulas for computing it.

Chapter 19   Describe the essential features of a cost-volume-profit income statement.

             Apply basic CVP concepts.

             Explain the terms sales mix and its effects on break-even sales.

             Determine sales mix when a company has limited resources.

             Understand how operating leverage affects profitability.

Chapter 20   Understand the benefits of budgeting.

             State the essentials of effective budgeting.

             Identify the budgets that comprise the master budget.

             Describe the sources for preparing the budgeted income statement.

             Explain the principal sections of a cash budget

Chapter 21   Describe the concept of budgetary control.

             Evaluate the usefulness of static budget reports.

             Explain the development of flexible budgets and the usefulness of flexible
             budget reports.

             Describe the concept of responsibility accounting.

             Indicate the features of responsibility reports for costs centers.

             Identify the content of responsibility reports for profit centers.

Chapter 22   Distinguish between a standard and a budget

             Identify the advantages of standard costs.

             Describe how companies set standards.

             State the formulas for determining direct materials and direct labor variances.

             State the formula for determining the total manufacturing overhead variance.

             Discuss the reporting of variances.

Chapter 23   Identify the steps in management’s decision-making process.

             Describe the concept of incremental analysis.
Identify the relevant costs in accepting an order at a specified price.

Identify the relevant costs in a make-or-buy decision.

Give the decision rule for whether to sell of process materials further.

Identify the factors to consider in retaining or replacing equipment.

Explain the relevant factors in whether to eliminate an unprofitable segment.

Determine which products to make and sell when resources are limited.

Contrast annual rate of return and cash payback in capital budgeting.

Distinguish between the net present value and internal rate of return methods.
                              Tentative Schedule for the Semester
     DATE     CHAPTER   IN-CLASS                  HOMEWORK                     HOMEWORK DUE

January 14              Intro/Pre-test

January 19      14      Problem 14-1A, 3A         Problems 14-1B, 3B, 4B       January 26

January 21      14      Problem 4A & 5A

January 26      15      Problem 1A, 2A            Problems 15-1B, 3B           February 2

January 28      15      Problem 3A, 4A, 5A

February 2              Exam I (Chap 14 & 15)

February 4      16      Problem 16-1A, 2A         Problems 16-1B, 2B, 3B, 6B   February 11

February 9      16      Problem 16-3A, 6A

February 11     17      Problem 17-1A, 2A         Problems 17-1B, 2B, 4B       February 18

February 16     17      Problem 17-4A, 5A

February 18             Exam II (Chap 16 & 17)

February 23     18      Problem 18-1A, 2A, 3A     Problems 17-1B, 2B, 5B       March 2

February 25     18      Problem 18-4A, 18-5A

March 2         19      Problem 1A, 2A            Problem 1B, 3B, 6B           March 9

March 4         19      Problem 3A, 4A

March 9                 Exam III (Chap 18 & 19)

March 11        20      Problem 1A, 2A, 3A        Problems 1B, 2B, 4B          March 18

March 16        20      Problem 4A, 5A, 6A,

March 18        21      Problem 21-1A, 2A         Problems 1B & 2B             April 1

March 23                Spring Break

March 25                Spring Break

March 30        21      Problem 21-3A, 4A

April 1                 Exam IV (Chap 20 & 21)

April 6         22      Problem 22-1A, 2A         Problem 1A, 2A, 7A, 8A       April 14

April 8         22      Problem 22-3A, 4A

April 12        22      Problem 22-7A, 8A

April 14        23      Problem 1A, 2A            Problem 1B, 2B, 4B, 6B       May 4
April 20   23   Problem 3A, 4A

April 22   23   Problem 5A, 6A

April 27        Open                        We will use these dates as
                                            determined by the instructor
                                            and this schedule will be

April 29        Open

May 4           Post-test

May 6           Final Exam (Chap 22 & 23)   1:30 – 3:30 p.m.

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