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RAMAPO COLLEGE OF NEW JERSEY
Cost Accounting
Dr. O'Grady Harvey Prerequisite: Intermediate Accounting, Information Systems I
Required Textbooks: 1. COST ACCOUNTING, TRADITIONS AND INNOVATIONS, 3rd edition, by Barfield, Raiborn and Kinney, West Publishing, 1998. 2. EXCEL SPREADSHEET APPLICATIONS SERIES, by Gaylord Smith, South-Western Publishing Co., 2000
Suggested Reading: 1. Strategic Finance (formerly Management Accounting)
Course Objectives: 1. To provide a study of the managerial accounting implications of cost accounting including management decision making.
2. To develop an understanding of the various cost systems employed in controlling manufacturing costs.
3. To reinforce cost accounting concepts by integrating and developing computer decision support systems.
Grading:
EXAM 1
20% TOTAL 100%
Examinations: NO MAKEUPS.
Computer Solutions: Each student is required to utilize spreadsheet software to develop a system solution to a managerial accounting problem. The solutions will be weighted equally. The solutions are due within two weeks after they are assigned. Points will be deducted for late submissions, so plan ahead. Grading of the computer projects will be based on information accuracy as well as effective presentation/communication.
Class Project: Each student is responsible for selecting a relevant Management Accounting topic for research. Specific research project requirements are attached to the syllabus. There will be both a written and oral requirement. The research will be presented to the class and a three-paged TYPED summary (plus exhibits and references, APA style) submitted to the professor. Late presentations or submission of papers will result in grade reductions.
Study Group Format: Research indicates that student learning is enhanced when small group formats, facilitated by the professor, are used in homework discussion. This class will use the group format in addition to traditional presentation of homework solutions. Students will have an opportunity to be included on a phone-chain list, coordinated by the professor, in order to facilitate study groups and emergency snow closing notification.
Attendance: Class attendance is an important component of this course. Students learn from one another as well as from the professor. Promptness is also important because late arrivals are disruptive to the class as a whole. Attendance will be taken and excessive absences will affect your grade. For each absence over three, your final grade point average will be reduced one point.
Class Participation: The ability of each student to effectively participate in class depends on the following: * Class attendance * Preparation of all assignments before class. * Reading the chapter prior to it's discussion in class.
If you need adaptations or accommodations because of a documented disability, please schedule an appointment during office hours.
The following outline is subject to revision at the professor's discretion.
Chapter 5 Hi-low Cost Separation M18 Chapter 7 Job Order Costing M17
Chapter 4 Manufacturing Accounting P17 Chapter 8 Process Costing P18
Computer solutions must include (in the following order): 1. Name and number (e.g. M18) on the top of the page. 2. Original data solution (and "data" section) 3. Test data solution (and "data" section) 4. Graphics, as applicable 5. Template of model solution (cell formula's versus amounts)
Remember, in addition to numerical accuracy, you will be graded on professional presentation and "readability".
** WHILE STUDENTS ARE ENCOURAGED TO CONSULT WITH ONE ANOTHER, EACH STUDENT IS RESPONSIBLE FOR A UNIQUE, INDIVIDUALLY COMPLETED SOLUTION.
Spring 2001
Ch. 1 Obtain three codes of ethical conduct from several corporations. Discuss the similarities and differences in the codes. Determine if the codes provide for enforcement procedures. Evaluate the codes in regard to clarity and comprehensiveness. Draft a code of ethical conduct for your class, social club, university, or other organization.
Ch. 4 Choose one of the following projects, or one of your own: a. Mowing the lawn b. Changing the oil in a car c. Preparing a meal or a dessert d. Doing a computerized accounting problem to turn in for homework e. Cleaning your dorm room or apartment
Estimate as best you can the cost of materials, labor, and overhead cost to determine the cost of goods produced or cost of services rendered. Based on your estimate cost, what would you consider a reasonable sales price for your product or service? Justify your answer.
Ch. 5 Visit a local company that is allocating overhead based on direct labor or machine hours. Observe the production or service operations and determine what, if any, would be a better activity base (or bases) on which to allocate overhead.
Ch. 6 Find a company in your area that has implemented some form of activity-based costing. Write a case analysis of that implementation.
Ch. 7 Browse through the telephone directory for your area and try to determine which types of businesses would use a job order costing system. Call several businesses and talk to the accountants about the systems. Ask if you can have a copy of a job cost sheet and compare it to the one in the text. What might be the reasons for any differences?
Ch. 8 Choose a product that is manufactured in your area. Draft an illustration of the manufacturing process of that product and indicate the points at which you would assume that the various manufacturing components would be added (similar to the manufacturing diagram in the chapter). By mail, by phone, or in person, contact the manufacturer to see how well your illustration depicted the actual process.
Ch. 14 Prepare a computerized personal cash flow budget for a six month period of time (for each month and in total). In the event that you project an excess of expenditures over inflows, what alternatives do you have to cover your outflows? How can you increase your inflows? Explain the rationale you used in developing the budget. |