Managerial Accounting Brewer 4Th Edition by vek16231


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									                                NORTHERN ILLINOIS UNIVERSITY

DEPARTMENT ADMISSION CRITERIA: Any student admitted to NIU can declare the accountancy major. However, to enroll
in any 300- or 400- level accountancy courses, you must meet one of the following criteria options. The criteria options are as

Criteria Option #1:
a. Meet the requirements to enroll in UBUS 310, Business Core Lecture (; and
b. Obtain a 3.20 cumulative GPA or higher (NIU plus transfer GPA based on a four-point scale); and
c. Obtain a minimum grade of B in ACCY 206, Introductory Financial Accounting, and a minimum grade of B in ACCY 207,
   Introductory Cost Management, or equivalent courses. If a student earns a C in ACCY 206/207, a second opportunity to take the
   course can be provided. See the Accountancy advisor for further details.

Students who meet Criteria Option #1 must formally request a review of their transcript by sending a completed Department of
Accountancy Transcript Review Request Form to the Department of Accountancy. Note: This form is separate from the NIU
Admission form and the UBUS 310 College of Business Transcript Request Form. The Accountancy Transcript Request form can be
obtained from the:
       NIU Department of Accountancy (815-753-1637 or FAX 815-753-8515)
       NIU Department of Accountancy website:
       NIU Undergraduate Studies in Business (815-753-1325)

Criteria Option #2:
a. Meet the requirements to enroll in UBUS 310, Business Core Lecture (including a cumulative GPA of a 2.75); and
b. Obtain a passing score on the Accountancy Qualifying Examination (AQE).

WHEN TO TAKE THE AQE: The earliest time this examination may be taken is at the end of the semester in which a student completes
the requirements to enroll in UBUS 310 (ten business core courses, 2.75 cumulative GPA, and 60 semester hours). Consequently, students
who are completing the requirements during a spring or summer semester, may take the AQE in June, July, or August. Students, who are
completing the requirements during a fall semester, must take the AQE in December or January. Students who are currently taking upper
division courses in the College of Business and do not meet the admission grade criteria listed in option #1 above may take the AQE
anytime. Questions concerning a student's eligibility to register for the AQE should be directed to Rhonda Rosborough, (815) 753-1637,
Department of Accountancy.

   In prior years, a passing score has been 70% to 75% of the total test questions.
   Basic function calculators may be used for this exam. Printing and alpha programmable computer calculators may not be used.
   Students may retake the examination one time only. A passing score on the second attempt will be five points higher than the
   passing score for those taking the examination for the first time.
   Students must be qualified to take the AQE before they will receive valid examination scores.

REGISTRATION: Students who wish to test must register at Testing Services, 128 Adams Hall. Office hours are 8:00 a.m. to noon
and 1:00 to 4:30 p.m., Monday through Friday. Telephone (815) 753-1203; FAX (815) 753-3701; E-mail:

U              U                         U   REPORTING LOCATION        U   U         REGISTRATION DEADLINE
Tuesday, June 7, 2011, 9:00 a.m.             Holmes Student Center, Heritage Room      Tuesday, May 31, 2011, 4:30 p.m.
Saturday, July 16, 2011, 9:00 a.m.           Holmes Student Center, Heritage Room      Thursday, July 7, 2011, 4:30 p.m.
Thursday, August 11, 2011, 9:00 a.m.         Holmes Student Center, Heritage Room      Thursday, August 4, 2011, 4:30 p.m.

EXAM STRUCTURE AND RESULTS: The AQE is a comprehensive test of information covered in most introductory accounting
books. The 30 financial and 30 managerial multiple-choice questions are divided between computation and theory questions.
Although you should allot 2 1/2 hours for the exam, you will have 130 minutes to answer all of the questions. AQE results will be
e-mailed to your NIU student e-mail account ( AQE results for the June and
August exams will be emailed by 10:00 a.m. on the Tuesday after the exam date. AQE results for the July exam will be e-mailed by
10:00 a.m. on Thursday, July 21. If you do not have an NIU e-mail address, please contact the Department of Accountancy at (815)

GRADING: The AQE is machine graded. We do not look at the answers you may have written in your test booklet. Be sure to
allow enough time at the end of the test period to transfer answers written in your test booklet to your scantron.
CONTENT: Questions on the AQE cover material typically found in the most widely used introductory financial accounting texts
and the most widely used introductory managerial accounting texts. The following review manuals contain questions which are
indicative of the format and coverage of the examination questions.

Financial topics:     * Scorebuilder by Baldwin. Please note: This book is only available from the Village Commons Bookstore in
                              U            U

Managerial topics:     Quizmaster by Hrubec and Keys. Please note: This book is only available from the Village Commons
                          U            U

                      Bookstore in DeKalb.
*Introduction to Managerial Accounting, by Brewer, Garrison and Noreen: 4th Edition, 2008, has an on-line learning center. The
website is On the lower left side of the page, click on the Student Edition in the Online Learning
Center. Select a specific chapter from the green content area to access chapter content, practice quizzes, etc.
HU is a free website designed to be an easy help to students to learn basic accounting topics.

STUDY STRATEGIES: Students should use an introductory financial and an introductory managerial text as their primary
resources when studying for the AQE exam. Students should study and review the Financial and Managerial topics listed below for
both understanding and application of concepts. The additional resources listed above should be utilized as secondary resources for

*Student feedback indicates this resource as a helpful review when used in conjunction with introductory financial and managerial
The topics that may be tested on the AQE are as follows:

Financial Topics:

1. Financial Statements: Balance Sheet, Income Statement, Statement of Cash Flows, and Statement of Retained Earnings.
2 Accounting Information System.
3. Accrual Accounting Concepts.
4. Merchandising Operations.
5. Accounting for assets: Cash, Receivables, Inventory, and Long-Lived Assets.
6. Accounting for liabilities: Current Liabilities and Bonds.
7. Accounting for equity: Common Stock, Preferred Stock, Retained Earnings, Treasury Stock, and Dividends.
8. Vertical/horizontal analysis of financial statements.
Managerial Topics:

1. Cost Terms and Concepts.
2. Job Order and Process Costing.
3. Standard Cost and Variance Analysis.
4. Budgeting (including Flexible Budgeting, Cash, and Capital Budgeting).
5. Traditional Income Statement vs. Contribution Margin Income Statement.
6. Relevant Costs for Decisions.
7. Cost Behavior and Cost-Volume-Profit Analysis (Break-Even Analysis).
8. Performance Evaluation (ROI, Residual Income, NPV).
9. TimeValue of Money.
10. ABC Cost Methods.
A sample account analysis question for financial accounting is as follows:

The payment of accounts payable results in a(n)
a. decrease in liabilities and a decrease in assets.
b. decrease in liabilities and an increase in assets.
c. increase in liabilities and a decrease in owners’ equity.
d. decrease in liabilities and an increase in owners’ equity.
A sample theory question for managerial accounting is as follows:

For control purposes, the direct material price variance should be determined at the time:
a. of purchase.
b. of issuance of materials into production.
c. the production is completed.
d. the finished product is sold                                                                          1/14/11

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