AC 301- COST ACCOUNTING I                                 Fall 1999

COURSE WEB PAGE:

http://wwwsb.ccsu.edu/faculty/stoneback/

OFFICE HOURS*:

TEXT

• Cost Accounting (9 ED), BY Horngreen, Foster, And Datar
• Student Solutions Manual
• The Goal, by Goldratt and Cox

PREREQUISITES

AC 202 or 212 -- This course is designed to build upon previous managerial accounting understanding. There will be some review of previous material built into the course.

COURSE DESCRIPTION

Basic descriptions of cost accounting are developed together with application in the formulation of cost accounting procedures. Elements of production, distribution, and financial costs are treated with special emphasis on implications of resulting cost information for management. Consideration of job order, process and standard cost procedures.

COURSE OBJECTIVE

PREPARATION

Each student is expected to complete the assigned reading before it is covered in class. The student should always bring the text and calculator to class. Please sit in your assigned seat. The lecture and class problems are not intended to be a substitute for student preparation It is intended that the lecture clarify and highlight important points. Student questions are encouraged. Lectures should fortify the reasoning and make students aware of common mistakes. Do not fall behind, it is difficult to catch up. It is important that students practice reading and working problems on their own. It is the best preparation for exams. The Student Solutions Manual has the solutions to the practice problems. Students will correct their own practice problems to clarify their own understanding.

EVALUATION: The final grade will be based upon the following

GRADE ASSIGNMENTS:

Testing: Testing will focus upon conceptual understanding, analytic ability, and written communication of ideas. It is a good indicator of how well prepared you are for a professional exam. THIS COURSE ADOPTS THE TOTAL QUALITY MANAGEMENT PHILOSOPHY --"DO IT RIGHT THE FIRST TIME" . There is no extra credit, retakes of exams or additional projects.

Homework Assignment Groupwork: There will be 11 assignments to hand - in. Due dates are on the assignment sheet. I will grade the assignments for the correctness of the solution. Groups of 3-4 people will work together.

Computer Homework Assignment: These must be on the computer on a spreadsheet. Due dates are on the assignment sheet. I will grade the assignments for the correctness of the solution. Part of the grade is based on your use of the calculating power of the program and that you have built a program which uses previous calculations - cell referencing. Do not use the spreadsheet as a word processor- merely keying in the solution. Use the power of the software program building logic.

Critical Thinking Assignment Groupwork: Critical thinking is a systemic process based on understanding and evaluating arguments. Arguments are a coherent set of reasons given in proof or rebuttal. Arguments consist of assertions about characteristics or relationships between things, empirical evidence to support or refute the assertion and a theoretical model or explanation that justifies the assertion. Our readings are full of arguments about organizations i.e. planning improves performance. There will be two assignments where you will outline the arguments and criticize the arguments. Your group must make a presentation to the class.

Paper - The Goal: The purpose of this project is to understand the ways that a company can decline and the ways a company may turn around. It is important to gain insight into the implications for internal financial reports.

1. Read the book THE GOAL. Identify the factors that led the company to decline. What actions were taken by Alex Rogo? What are the implications for accounting systems and reporting?
2. Read the first three chapters of OUT OF CRISIS by W. Edward Deming (on reserve in the library) or a condensed version of Deming in DEMING MANAGEMENT AT WORK by Mary Walton (pp 11-24 and 219-239). He lists fourteen points of management as well as seven diseases of management. Relate these points to the situation in THE GOAL. In what ways was the plant operating under the diseases described by Deming before the turnaround. In what ways did Alex’s actions agree with the 14 points. Be very specific pick the two or three most important points and elaborate.
3. Read about the Theory of Constraints in the text (pp. 693-701). There is a five step method for solving problems. In what ways were Alex’s actions similar to these recommendations. Be specific.
4. Compare and contrast the method suggested by Deming and the Theory of Constraints. In what ways are they similar and in what ways do they differ?
5. Draw a conclusion from your analysis.

Resume/Professional: A resume must be prepared and may be included in the resume book in the format provided. Students must attend one IMA meeting or 2 accounting club meetings. These are assigned to promote your development in your profession.

CLASS POLICIES:

Attendance Policy: YOU are the most important person in the class. Attendance is essential. If you are absent it is your responsibility to obtain class notes, discussion topics and assignments from other class members. There will be a seating chart. Please sit in your assigned seats. Attendance will be noted but no grade or penalty will be assigned for attendance alone.

Drop And Withdrawl Policy: The deadline to drop this course, so that it does not appear on your transcript, is October 22, 1999. Forms are available in the Registrars Office. After this deadline, withdrawal from this course may only be granted by the student providing a written justification, a SEVERE EXTENUATING CIRCUMSTANCE such as a hospital illness, which can be documented. This will require a series of signatures and paper work.

Makeup Policy: NO MAKEUP EXAMS ARE GIVEN. If an exam is missed, the student must provide a written explanation with valid supporting documentation or a 0 score will be given. If the absence is approved, no makeup will be given but the final will be weighted with more points. Make sure to adjust your schedule to the exam dates posted.

Late Assignment Policy: No assignment may be handed in later than one week after the due date. Late assignments will have a penalty of one letter grade. Assignments are due at the beginning of class the day due.

Late Exam Policy: NO final exams will be given to students earlier than the scheduled date. The student should make travel arrangements after the final exam dates of May 11, 1999.

Academic Dishonesty Policy: Please read the section in the student handbook on academic misconduct. You must do all of your own work. Such actions as copying from another, copying another's document, or having someone do your assignments will not be tolerated. A grade of F for the course will be given for first time cheaters. Sorry, there are no second chances.

Special Needs: If there is a student with special needs due to physical or learning disability, please discuss this with me so that we can accommodate your needs.

READING SCHEDULE

8/31
9/02	Ch.1	Profession and Ethics (pp 1-15)
9/07	Ch.2	Cost Management Concepts (pp 25-44)
9/09	Ch.2
9/14	Ch.4	Costing Systems: service and merchandising (pp 93-112)
9/16	Ch.5	Costing Systems: manufacturing (pp 131-153)
9/21	Ch.5
9/23	Ch.5
9/28		EXAM I
9/30	Ch.17	Process Costing (pp 610-635)
10/05	Ch.17
10/07	Ch.18	Spoilage and Rework (pp 651-669)
10/12	Ch.18
10/14	Ch.19	Cost Management (pp 681-701)
10/19	Ch.19
10/21	Ch.20	Operations Costing and JIT (pp717-734)
10/26		work on "computer project" and read "The Goal"
10/28
11/02	Ch.21	Inventory Mangement (pp 747-762)
11/04	Ch.21
11/09		EXAM II
11/11	Ch.7	Standard Costing (pp 218-239)
11/16	Ch.7
11/18	Ch.8	Mangement Control (pp 253-283)
11/23		Thanksgiving
11/25		Thanksgiving
11/30	Ch.13	Cost Allocation (pp 471-491)
12/02	Ch.13
12/07	Ch.15	Joint Products and Byproducts (pp 543-559)
12/07	Ch.15
12/14		FINAL EXAM

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