Cost Accounting II
Course Code:
ACG 3351
Credit Hours:
3
Effective beginning:
2023-24
Sections:
001
Course Description:This course is a continuation of ACG 3341, where students will learn more about cost accounting principles and managerial accounting practices. This course covers product costing systems, inventory and quality control, capital investment, resource management, generation and use of accounting information in managerial business decision-making.
Course Details
Prerequisites:
ACG 3341
Required textbooks/ course materials:
Lanen, Fundamentals of Cost Accounting with Connect Access Card, 7th ed., McGraw Hill. ISBN: 9781264464685 OR Cengage Unlimited:
1-semester subscription: ISBN 9780357700006
1-year subscription: ISBN 9780357700013
2-year subscription: ISBN 9780357700020
CPA BEC Supplemental Course (Professor led platform) (6month access)2022 Edition, Gleim. ISBN: 9781618544896.
Assignment/course outline:
See your Instructor First Day Handout for individual instructor assignment schedule.
Discipline-level learning outcomes:
BA-1 Exhibit knowledge of accounting, finance, management, legal, operations and marketing.
BA-2 Identify MIS, economics, technology, statistical data and decision support tools for making effective business decisions.
BA-3 Recognize the impact of today’s global economy, diversity and cultures on businesses.
BA-4 Comprehend how effective leadership, teamwork and ethics relate to best business practices.
BA-5 Use effective oral and written communication skills, including effective research techniques.
Course-level learning outcomes:
| Course-level student learning outcomes | Discipline-level learning outcomes | Assessment methods |
|---|---|---|
| Appraise (JIT) Just in time manufacturing and purchasing concepts |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
| Contrast the concepts of Value added cost and Non-Value added cost while recognizing their impact on the profitability |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
| Synthesize tactical decision making in determining to determine whether a company should make or buy a product; or, keep or drop a product |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
| Propose how activity based cost management can be used to improve operations. Assign costs to customer and suppliers using activity based costing |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
| Evaluate why service costs are allocated. Allocate service costs using the direct, step, and reciprocal methods |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
| Evaluate why joint costs are allocated. Allocate joint costs using the net realizable value and physical quantities methods |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
| Formulate the impact of quality and how quality affects profitability |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
| Explain the role of a management control system. Identify the advantages and disadvantages of decentralization |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
| Contrast how managers evaluate performance |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
| Appraise production and costs budgets. Prepare budgeted financial statements. |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
| Propose the importance of capital budgeting. Use the following to determine whether a capital spending decision is profitable: the payback period, the internal rate of return, the accounting rate of return, and the net present value. |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
|
Evaluate the issues associated with transfer pricing. Compute the transfer price that would be reasonable for goods under various scenarios. |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
|
Formulate and use flexible budgets to compute: Sales activity variances, profit variances, variable cost variances, and fixed cost variances. |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
| Propose why management accountants should know the business strategy of an organization. Explain the use of a balanced scorecard in resolving conflicting responsibilities within an organization. Explain how benchmarking supports continuous improvement. Identify examples of nonfinancial performance measures. |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
Means of accomplishing learning outcomes:
In-Person
The instructor will:
- Lecture and lead class discussions.
- Assign readings from textbooks and/or other sources to supplement lectures.
- Provide supplemental materials that align with the material presented in the textbook as appropriate.
- Design assignments, quizzes, discussions, etc., to help students engage with the course material.
- Use other teaching strategies to assist students in examining and understanding course materials as needed.
- Provide timely feedback on assignments.
- Hold weekly office hours to address questions and student needs outside of class time.
The students will:
- Attend class regularly and be attentive to lectures.
- Engage with class discussion.
- Participate in student discussion groups.
- Read assigned readings.
- Complete assignments, quizzes, discussion boards, etc., as assigned by the instructor.
Online
The instructor will:
- Lead class discussions.
- Assign textbook and/or other readings.
- Provide supplemental materials that align with the material presented in the textbook as appropriate.
- Design assignments, quizzes, discussions, etc., to help students engage with the course material.
- Use other teaching strategies to assist students in examining and understanding course materials as needed.
- Provide timely feedback on assignments.
- Hold weekly virtual office hours to address questions and student needs.
The students will:
- Engage with the course regularly.
- Engage with class discussions.
- Participate in student discussion groups.
- Read assigned readings.
- Complete assignments, quizzes, discussion boards, etc. as assigned by instructor.
College-wide policies and resources
For more specific information on Chipola's college-wide academic policies and resources available to students, visit the link below.
Policies & Resources