School of Business ACC/561 Accounting
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Course Description This course applies accounting tools to make management decisions. Students learn to evaluate organizational performance from accounting information. Other topics include financial statements, cost behavior, cost allocation, budgets, and control systems. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • • University policies: You must be logged into the student website to view this document. Instructor policies: This ...view middle of the document...
Week Two: Financial Statements
Objectives 2.1 Apply the concepts, techniques, and conventions of basic financial accounting. 2.2 Identify how measurement conventions affect financial reporting. 2.3 Determine the relationships between the elements of the four financial statements. Read Ch. 15 & 16 of Introduction to Management Accounting. Review the International Accounting Standards Board (IASB) website: http://www.iasb.org/Home.htm Review the Financial Accounting Standards Board (FASB) website: http://www.fasb.org Participate in class discussion. Respond to weekly discussion questions. Respond to the assessed discussion question. • In what ways do the elements of the four financial statements interact with one another? How might changing one of the financial statements affect the other financial statements? Why is it essential to understand the relationship between the financial statements? 7/4/11 10 7/4/11 1 2 2
Participation Discussion Questions Assessed Discussion Question
Learning Team Financial Statement Analysis
Choose three companies, one from each of the following three sectors: manufacturing, service, and retail sales. One company must be foreign. Compute the quick and current liquidity ratios, the DuPont ratio, profit margin, asset utilization, and financial leverage of each of the three companies. Write a paper in no more than 1,050 words discussing how differences in the industries and different IASB and FASB measurement conventions affect presentations. If one of the companies uses the cash basis of accounting, how would that differ from the accrual basis? Format your paper consistent with APA guidelines.
Week Three: Cost Behavior
Objectives 3.1 Evaluate how cost behavior affects selection of cost drivers and management decisions. 3.2 Analyze the cost-volume-profit relationships to predict effects of changes in sales or costs, including the break-even sales volume. 3.3 Compare and contrast the different methods of measuring cost functions. 3.4 Explain how cost accounting systems are used to determine the cost of a product, service, customer, or other cost objectives. Read Ch. 2–4 of Introduction to Management Accounting. Participate in class discussion. Respond to weekly discussion questions. Respond to the assessed discussion question. Resource: Aunt Connie’s Cookies simulation Complete the Aunt Connie’s Cookies simulation located on the student website. Reflect on the prerogatives and choices of the manager of Aunt Connie’s Cookies. Write a paper in no more than 700 words explaining how Aunt Connie’s Cookies could use cost accounting systems to determine its product costs. Review the Week Six Assignment and begin working on the cost relationships and behaviors section for the Guillermo Furniture Store Paper. Resource: Introduction to Management Accounting Complete the following problem sets from the text: • • •...