Accounting 241

Instructor Office hours Rolland Cooper 443 Owen Bldg (734) 418-0055 MW 11:00-1:00 and 4:00-6:00 all in Room 110 Other times by appointment http://EMUonline.edu Introduction to Managerial Accounting 5 th ed. Brewer, Garrison, Noreen McGraw-Hill Irwin Mid-term exams (25% each) Final Exam Homework Class participation 50% 35% 10% 5% 100% rcooper@emich.edu

Summer 3, 2012

Course Website Materials

Grading

Exams

Two mid-terms and a cumulative final exam will be given. No make-ups or alternate times will be permitted. If you miss a mid-term exam, the Final will be weighted 60%. If you miss a second mid-term, it will count as a zero. Calculators with more than a two line display or with alphabetic input are not allowed on exams. If you do not take the final exam at the regularly scheduled time, your course grade will be reduced by one full letter. Homework will be completed using both the McGraw-Hill Connect system and EMUonline.edu Due dates will be given in class and online for each assignment and no late homework will be accepted. EMUonline assignments must be completed in MS Excel or Word and submitted online to the appropriate drop box at EMUonline.edu. I will grade your Word or Excel files based on completing the assignment, showing all work, clearly labeling all amounts (no abbreviations), and neatness and organization. I will drop one homework score in order to allow for missed assignments due to unavoidable causes such as internet, software, computer, family or work problems, etc., or for illness.

Homework

Class Participation

You will be expected to answer questions, raise questions, and provide oral and written solutions to assigned problems and exercises each class. You must be on time and prepared in order to get full credit for class participation. I will drop your lowest class participation score. Computer assignments, internet assignments, and other projects will be required for this class. All required projects must be satisfactorily completed in order to pass the course. Each project will count as two homework assignments. The projects can be found on the course website under "Computer Projects". Computer Projects must be submitted to the Dropbox at EMUonline.edu No project score will be dropped in arriving at your homework grade. A 94% B- 80% D+ 67% A- 90% C+ 77% D 63% B+ 87% C 73% D- 60% B 83% C- 70% E Below 60%

Required Projects

Grading Scale

ACC241 Tentative Schedule Summer 3, 2012 Date 2-Jul 4-Jul 9-Jul 11-Jul 16-Jul 18-Jul 23-Jul 25-Jul 30-Jul 1-Aug 6-Aug 8-Aug 13-Aug 15-Aug 20-Aug 22-Aug No class Chapter 9 - Standard Costs and Variance Analysis Chapter 7 - Profit Planning Chapter 8 - Performance Analysis EXAM ONE Chapter 11 - Relevant Costing for Decision Making Chapter 12 Appendix A - Time Value of Money Chapter 12 - Capital Budgeting EXAM TWO Chs 2 and 3 - Job Order Costing and Activity Based Costing Chapter 11 - Relevant Costing for Decision Making Chapter 4 - Process Costing Chs 13 and 14 - Cash Flow and Financial Statement Analysis Catch-up and Review Final Exam Topic Chapter 6 - Cost-Volume-Profit; Chapter 5 - Cost Behavior

ACC 241 - Principles of Managerial Accounting Departmental Policies and College of Business Mission Statement and Ethos Statement Summer 2012 P/T3 (7/2/12 8/22/12) Course Materials:
1. Textbook: Introduction to Managerial Accounting 5th ed. by Brewer, Garrison and Noreen, 2010, McGraw-Hill/Irwin. (textbook website www.mhhe.com/brewer5e 2. Computer Projects (available at www.computerprojects.info). Course Description/Objectives: This course will introduce you to how managerial accounting information is used in making business decisions. The concepts covered, such as budgeting and cost control, will be useful to all future decision makers and managers. Learning Outcomes: As a result of successful completion of this course, you should be able to: 1. Distinguish managerial from financial accounting, and explain the role of a management accountant in a business. 2. Define the terms and classifications of costs in a manufacturing environment (product, period, fixed, variable, work in process, finished goods, materials, labor, overhead, overhead application, cost behavior, etc.). 3. Compute and interpret product cost in a variety of environments (manufacturing, retail, service, not-for-profit, etc.). 4. Define basic concepts of activity based costing and quality costs. 5. Explain the purpose of, and compute, cost-volume-profit relationships. 6. Explain the purpose and use of budgets, including flexible budgets, and prepare and interpret a budget for a manufacturing environment. 7. Define standard costs and explain their use. Compute and interpret cost variances. 8. Determine relevant costs for decision making, and use this information to make business decisions and evaluate performance. Course Prerequisites and Class Standing: Although there are no prerequisites for the ACC 240 / 241 series, a proficiency in mathematics is assumed in these courses. Students are strongly advised to complete all math requirements before taking ACC 240 / 241. In addition, the department recommends that students attain a sophomore class standing before taking these courses. College of Business Grade Requirements: A course grade of "C-" or better for both ACC 240 and ACC 241 is required for admission to the College of Business. Computer Projects: The satisfactory completion of four computer projects is required for all ACC 241 students. The penalty for failure to complete all four projects in a satisfactory manner will be announced by your instructor. The projects contain detailed instructions to assist you in their completion. Students must work on their computer projects individually. Any student found copying any part of another student's work or allowing their own work to be copied will receive an "E" in the course despite any other class performance. Computer projects are on the web at www.241.computerprojects.info. Due dates will be announced by your instructor. Homework and Attendance: Completion of assigned homework on a timely basis is essential to success in this course. Your instructor may consider homework as a factor in evaluating your performance. Regular class attendance is an important element in the learning process, and is also essential for success in the course. Your instructor may consider classroom attendance and / or participation as a factor in evaluating your performance. Make-up Examinations: You should contact your instructor well in advance when you will not be able to take a scheduled exam. In the extraordinary circumstance where a make-up is granted, the exam may be more difficult than the original exam, and the make-up time will be at the instructors discretion. Each instructor decides whether to approve or deny requests for make-up exams. Academic Honesty: Cheating on an exam or any other form of academic dishonesty will result in an E for the course and referral to Student Judicial Services for disciplinary action. The Student Code of Conduct may be found at: http://www.emich.edu/policies/chapter8/8-1_policy.pdf . Section V:A covers academic honesty.

Withdrawals: The last day to withdraw from an individual class (with a grade of W) is Monday, August 6, 2012 for the Summer Part of Term 2. You do not need your instructors permission to withdraw, but please inform your instructor if you do drop the class Incompletes: An I (incomplete) grade is awarded only when a student has completed the majority of the work of a course and the students work has been of acceptable quality (C or better) but the required amount of work has not been completed because of illness, necessary absence or other satisfactory reasons. It is never applied to poor work or to absence of class by the student. The student must inform the instructor of the reason for the requested incomplete, and the instructor may at his or her discretion agree to the request. Go to http://catalog.emich.edu/content.php?catoid=11&navoid=1564#2c for more detail. Tutoring and Other Assistance: Tutoring is provided at the Holman Success Center in room G04 in the Halle Library (http://www.emich.edu/hsc/, 487-2133). Additionally, you can visit the Writing Center in Room 215, Halle Library for assistance in developing your written communication skills. The Writing Center will be open May 14 June 21, Monday Thursday 10 a.m. 4 p.m. These resources are available at no additional fee, and you are strongly encouraged to make use of them throughout the semester. Religious Holidays: Students must provide advance notice to their instructors in order to make up work, including examinations that they miss as a result of their absence from class due to observance of religious holidays. If satisfactory arrangements cannot be made with the instructor, students may appeal to the department head. Accommodation for Students with Disabilities: It is my goal that this class be an accessible and welcoming

experience for all students, including those with disabilities that may impact their learning in this class. If anyone believes they may have trouble participating or effectively demonstrating learning in this course, please meet with me (with or without a Disability Resource Center (DRC) accommodation letter) to discuss reasonable options or adjustments. During our discussion, I may suggest the possibility/necessity of your contacting the DRC (240 Student Center, 734.487.2470, drc@emich.edu, http://www.emich.edu/drc) to talk about academic accommodations. You are welcome to talk to me at any point in the semester about such issues, but it is always best if we can talk at least one week prior to the need for any modifications.
F and J Visa Students: In accordance with federal regulations, you have 10 days to report any: 1) Changes in your name, residential address, academic status (full or part-time enrollment), program of study or completion date, student level (undergraduate to graduate), or funding source (employment or graduate assistant position). 2) Intent to transfer to another university. 3) Probation or disciplinary action due to a criminal conviction. These must be reported to the EMU Office of International Students (OIS), 244 Student Center within 10 days of occurrence. Failure to do so may result in arrest and deportation. You may not drop or withdraw from a course without OIS approval. If you have questions or concerns, OIS

at 734.487.3116, or visit http://www.emich.edu/ois/.

Accounting Degrees and Programs: Several accounting programs and degrees are available for your consideration. The BBA-AIS (Accounting Information Systems) combines work from both the Accounting and Computer Information Systems departments. Accounting majors should also consider the Departments 150 hour program leading to simultaneous bachelor's (BBA) and master's (MSA) degrees; a concentration in AIS is also available. For additional information on these programs, visit the office of the Department of Accounting and Finance (406 Owen Building) or the department website:

http://www.accfin.emich.edu.
Accounting Majors: The Department strongly urges all accounting majors to enroll in ACC 296 (The Accounting Cycle and Profession), immediately following the completion of ACC 241. ACC 296 is required for all accounting majors. This is a valuable and interesting course providing information about careers and also covering many accounting fundamentals that will be beneficial to your performance in ACC 340 Intermediate Accounting. Following admission to the COB, accounting majors would normally first enroll in ACC 340 Intermediate Accounting and ACC 342 Managerial Cost Accounting. Although not mandatory, the Department strongly advises that students in the accounting major receive at least a "B" in both ACC 240 and ACC 241 Additional Information and Questions: Consult your instructor's syllabus for additional information concerning class policies. If you have any questions regarding this handout, please contact your individual instructor. The faculty of the Department of Accounting and Finance are committed to making this important course meaningful and rewarding to you. Every effort has been made to make the material covered both relevant and current.

The College of Business Mission Statement EMUs College of Business (COB) provides an academic learning environment that fosters innovative, applied and global business programs. It supports the economic development of southeastern Michigan by preparing graduates to perform effectively in a knowledge and information age business world shaped by a global economy. EMUs COB endeavors to develop business leaders to understand and use innovative approaches to address the forces shaping their environment as they create and manage businesses with the highest ethical standards. The College focuses first and foremost on teaching and learning. Faculty conduct research primarily applied in nature which supports the overall learning experience. The College values, supports and encourages service to and interaction with the greater community. The College of Business Ethos Statement: The College of Business students, faculty and staff comprise a professional, interdependent community committed to perfecting responsible, ethical business professionals to serve business and the wider world. Through a positive learning experience mirroring the business worlds best aspects, the community respects the groups common mission and the individuals comprising it. Community members foster the COB ethos through behavior growing from six interrelated values: 1) IntegrityIntegrity is practicing in all areas of life what we profess to believe. It is commitment to professional standards in the whole person. 2) HonestyHonesty requires respect for the truth; it means being truthful, sincere, and straightforward. 3) TrustworthinessGrowing out of integrity and honesty, trustworthiness is the confidence others have that we mean what we say; we can be counted on. 4) RespectRespect is deference or esteem for what we value. We recognize others worth as ends, not means. Respect is key to our other values. 5) LearningWe value learning as an end in itself and as a practical tool for success in lifelong professional growth. We gain up-to-date, practical and theoretical knowledge through effective, often participative learning and research. 6) The Work EthicWe practice self reliance and responsibility to our business profession and community. We are industrious and often self supporting.

GOOD LUCK and ENJOY the learning experience!