06 Aug Compare the major differences between financial accounting and managerial accounting.
Course Description
Introduces concepts and methods to assist management in the evaluation of the business enterprise and to aid in its planning, organizing, and controlling functions.
Course Textbook(s)
Weygandt, J. J., Kimmel, P. D., & Mitchell, J. E. (2020). Managerial accounting: Tools for business decision making (9th ed.). Wiley. https://online.vitalsource.com/#/books/9781119709558
Course Learning Outcomes
Upon completion of this course, students should be able to:
1. Compare the major differences between financial accounting and managerial accounting. 2. Assess various budgets within an organization. 3. Apply different costing classifications to real-world scenarios. 4. Calculate the impact on profits using cost-volume-profit (CVP) analysis. 5. Distinguish between job-order costing, process costing, and activity-based costing methods. 6. Explore capital projects using a variety of capital budgeting tools. 7. Analyze problems in managerial decision-making regarding cost planning and control.
Academic Integrity
Honesty and integrity are taken very seriously at Waldorf University. All students should be familiar with the Waldorf University Academic Integrity Policy (found in the current Student Handbook) and the consequences that will result from breaches of this policy.
Credits
Upon completion of this course, the students will earn 3.00 hours of college credit.
Course Structure
1. Study Guide: Course units contain a Study Guide that provides students with the learning outcomes, unit lesson, required unit resources, assignments, and supplemental resources.
BUS 3620, Managerial Accounting
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2. Learning Outcomes: Each unit contains Learning Outcomes that specify the measurable skills and knowledge students should gain upon completion of the unit.
3. Unit Lesson: Unit Lessons, which are located in the Study Guide, discuss lesson material. 4. Required Unit Resources: Units contain Required Unit Resources from one or more chapters from the textbook
and/or outside resources. 5. Suggested Unit Resources: Suggested Unit Resources are listed within the Study Guide. Students are encouraged
to read the resources listed if the opportunity arises, but they will not be tested on their knowledge of the Suggested Unit Resources.
6. Discussion Boards: Students are required to submit Discussion Board posts in Units I-VIII. Discussion Boards provide students the opportunity for student-to-student and professor-to-student interaction based on relevant course concepts and ideas. Specific information about accessing the Discussion Board rubric is provided below.
7. Unit Assignments: Students are required to submit for grading Unit Assignments. Specific information and instructions regarding these assignments are provided below. Grading rubrics are included with each assignment. Specific information about accessing these rubrics is provided below.
8. Ask the Professor: This communication forum provides students with an opportunity to ask their professor general questions or questions related to course content.
9. Student Break Room: This communication forum allows for casual conversation with other classmates.
Unit Assignments
Unit I Lab Assignment
Complete the assigned problems in the WileyPlus Unit I Lab Assignment.
You will find 20 questions and will have three attempts for each question.
Unit II Lab Assignment
Complete the assigned problems in the WileyPlus Unit II Lab Assignment.
You will find 20 questions and will have three attempts for each question.
Unit II Project
Choose a company that manufactures a specific product. Then, answer the following questions based on assumptions and research conducted about the company and its product.
1. Describe the product that is being made and the company that makes it. 2. Explain the value chain activities that this product would go through from start to finish. Remember that a value chain
describes the full range of activities necessary to create a product or service. 3. List and explain three costs that would be incurred in each of the business activities in the value chain. 4. Categorize and explain each cost you identified in the value chain as either a product cost or a period cost. Explain
your reasoning. 5. Make a list of three different cost objects other than the product itself for the company you chose. 6. Specify a direct cost and an indirect cost for each of the three different cost objects in question. Discuss why you
categorized them as direct or indirect.
Your assignment must consist of at least two pages, and you should include at least two references. One reference can be your textbook, and one should come from the Waldorf Online Library. Adhere to APA Style when creating citations and references for this assignment. APA formatting, however, is not necessary.
Unit III Lab Assignment
Complete the assigned problems in the WileyPlus Unit III Lab Assignment.
You will find 20 questions and will have three attempts for each question.
Unit IV Lab Assignment
BUS 360, Managerial Accounting 2
Complete the assigned problems in the WileyPlus Unit IV Lab Assignment.
You will find 20 questions and will have three attempts for each question.
Unit IV Project
Using your favorite search engine, choose a product that you are interested in learning more about, including how the product is manufactured. After you have located information about the product, answer the following questions about it.
What is a description of the product, and what company makes it? What is the process used to manufacture the product? Name the raw materials and indirect materials used in its manufacturing. Who would be considered direct and indirect labor in the making of this product, and why? Using the cost-plus pricing approach, what target selling price would you set for the product? Explain why you chose this price. Assume you are the owner of the company that produces the product. You have been offered the option to outsource the product’s component parts instead of making them. What cost factors would need to be considered? Does it make more financial sense to outsource these parts? Explain with examples/assumptions. Assume the product was being made on an old piece of machinery that is slowing down production and causing delayed completion times. You have been given the option to either buy a new replacement piece of machinery or have this current machine reworked/repaired. Which option would you chose? What factors would be considered? State all assumptions and be sure to describe how incremental analysis would be used to make this decision.
Your project should consist of at least two pages, not counting a title page (if included) or references page. You must use at least two references, one of which can be your textbook. Adhere to APA Style when creating citations and references for this assignment. APA formatting, however, is not necessary.
Unit V Lab Assignment
Complete the assigned problems in the WileyPlus Unit V Lab Assignment.
You will find 20 questions and will have three attempts for each question.
Unit VI Lab Assignment
Complete the assigned problems in the WileyPlus Unit VI Lab Assignment.
You will find 20 questions and will have three attempts for each question.
Unit VI Project
Congratulations! You have just been elected as president of your city’s nationally chartered financial networking organization. The group is a chapter of a national organization that has the following mission statement: “To encourage the profession of finance as a career and to provide a platform that emphasizes and employs high ethical standards within the profession and community.”
Respond to the following four (4) prompts based on your knowledge from this unit’s material.
1. Describe the four perspectives that will be used when creating a balanced scorecard for this organization. 2. Identify at least four significant performance measures for your organization within each perspective. 3. Create standards that will be used to compare your professional chartered chapter to others of the national
networking association. State each standard with a goal in mind. 4. Explain how standard costs and a balanced scorecard will be used to evaluate your organization’s performance and
why both financial and non-financial metrics should be integrated when evaluating an organization’s tasks and goals.
Your project should consist of at least two pages, not counting a title page (if included) or references page. You must use at least two references, one of which can be your textbook. Adhere to APA Style when creating citations and references for this assignment. APA formatting, however, is not necessary.
Unit VII Lab Assignment
Complete the assigned problems in the WileyPlus Unit VII Lab Assignment.
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You will find 20 questions and will have three attempts for each question.
Unit VIII Lab Assignment
Complete the assigned problems in the WileyPlus Unit VIII Lab Assignment.
You will find 20 questions and will have three attempts for each question.
Unit VIII Project
Use your favorite search engine to locate an article about a company that has decided to outsource a part of its business operations. If you currently work for an organization that outsources or is thinking about outsourcing, you can use that instead.
Respond to the following four (4) prompts based on your knowledge from this unit’s material and the article you found.
1. State the name of the company you chose and your information source (link, employer, and so on). Describe the type of company it is, and explain which area it is planning to outsource or is already outsourcing.
2. Why did the company consider outsourcing in the first place? Explain in terms of the company’s sustainable income and the quality of its earnings.
3. Identify the revenues and costs that would be impacted by this outsourcing decision using ratio analysis. Use your best estimate on these revenue/cost values since the actual amounts are most likely not known to the public.
4. Identify the factors, based on horizonal analysis and vertical analysis, that could impact the company’s decision to outsource this business operation. Make your own assumptions and estimates regarding these factors.
Your project should consist of at least two pages, not counting a title page (if included). APA Style will not be required for this assignment.
Submitting Course Papers/Projects
Once you have completed your papers/projects, submit your completed papers/projects by uploading through the Assignment tab in each unit. Do not e-mail your paper directly to your professor. By using the Assignment tab, your record will automatically be updated to indicate you have submitted your papers/projects, and the assignment will be provided to your professor for grading. Instructions for submitting your assignment can be found under the Assignment tab in each unit.
APA Guidelines
Waldorf University requires that students use the APA style for papers and projects. Therefore, the APA rules for formatting, quoting, paraphrasing, citing, and listing of sources are to be followed. Information about using APA style can be found in APA Style Help in the Course Menu. This area provides links to Internet sites, tutorials, and guides that provide comprehensive information on APA formatting, including examples and sample papers.
Grading Rubrics
This course utilizes analytic grading rubrics as tools for your professor in assigning grades for all learning activities. Each rubric serves as a guide that communicates the expectations of the learning activity and describes the criteria for each level of achievement. In addition, a rubric is a reference tool that lists evaluation criteria and can help you organize your efforts to meet the requirements of that learning activity. It is imperative for you to familiarize yourself with these rubrics because these are the primary tools your professor uses for assessing learning activities.
Rubric categories include (1) Discussion Board, (2) Assessment (Written Response), and (3) Assignment. However, it is possible that not all of the listed rubric types will be used in a single course (e.g., some courses may not have Assessments).
The Discussion Board rubric can be found within Unit I’s Discussion Board submission instructions.
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The Assessment (Written Response) rubric can be found embedded in a link within the directions for each Unit Assessment. However, these rubrics will only be used when written-response questions appear within the Assessment.
Each Assignment type (e.g., article critique, case study, research paper) will have its own rubric. The Assignment rubrics are built into Blackboard, allowing students to review them prior to beginning the Assignment and again once the Assignment has been scored. This rubric can be accessed via the Assignment link located within the unit where it is to be submitted. Students may also access the rubric through the course menu by selecting the “Grades” link.
Again, it is vitally important for you to become familiar with these rubrics because their application to your Discussion Boards, Assessments, and Assignments is the method by which your instructor assigns all grades.
Communication Forums
These are non-graded discussion forums that allow you to communicate with your professor and other students. Participation in these discussion forums is encouraged, but not required. You can access these forums with the buttons in the Course Menu. Instructions for subscribing/unsubscribing to these forums are provided below.
Click here for instructions on how to subscribe/unsubscribe and post to the Communication Forums.
Ask the Professor
This communication forum provides you with an opportunity to ask your professor general or course content questions. Questions may focus on Blackboard locations of online course components, textbook or course content elaboration, additional guidance on assessment requirements, or general advice from other students.
Questions that are specific in nature, such as inquiries regarding assessment/assignment grades or personal accommodation requests, are NOT to be posted on this forum. If you have questions, comments, or concerns of a non- public nature, please feel free to email your professor. Responses to your post will be addressed or emailed by the professor within 48 hours.
Before posting, please ensure that you have read all relevant course documentation, including the syllabus, assessment/assignment instructions, faculty feedback, and other important information.
Student Break Room
This communication forum allows for casual conversation with your classmates. Communication on this forum should always maintain a standard of appropriateness and respect for your fellow classmates. This forum should NOT be used to share assessment answers.
Schedule/Grading
The following pages contain a printable Course Schedule to assist you through this course. By following this schedule, you will be assured that you will complete the course within the time allotted.
Unit I The Managerial Accounting Environment [ Weight: 8% ]
Read/View: Unit I Study Guide Chapter 1: Managerial Accounting (4 sections): See Study Guide Unit Resource (1 presentation): See Study Guide
Discuss: Unit I Discussion Board 2%
Submit: Unit I Lab Assignment 6%
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https://online.waldorf.edu/bbcswebdav/institution/CSEG_Content/Commons/PDFs/Create_New_Thread_Subscribe.pdf
Unit II Job Order and Process Costing [ Weight: 17% ]
Read/View: Unit II Study Guide Chapter 2: Job Order Costing (5 sections): See Study Guide Chapter 3: Process Costing (4 sections): See Study Guide Unit Resources (2 presentations): See Study Guide
Discuss: Unit II Discussion Board 2%
Submit: Unit II Lab Assignment Unit II Project
6% 9%
Unit III Activity-Based Costing and Cost-Volume-Profit [ Weight: 8% ]
Read/View: Unit III Study Guide Chapter 4: Activity-Based Costing (4 sections): See Study Guide Chapter 5: Cost-Volume-Profit (5 sections): See Study Guide Unit Resources (2 presentations): See Study Guide
Discuss: Unit III Discussion Board 2%
Submit: Unit III Lab Assignment 6%
Unit IV Incremental Analysis and Pricing [ Weight: 17% ]
Read/View: Unit IV Study Guide Chapter 7: Incremental Analysis (6 sections): See Study Guide Chapter 8: Pricing (4 sections): See Study Guide Unit Resources (2 presentations): See Study Guide
Discuss: Unit IV Discussion Board 2%
Submit: Unit IV Lab Assignment Unit IV Project
6% 9%
Unit V Budgetary Planning and Budgetary Control [ Weight: 8% ]
Read/View: Unit V Study Guide Chapter 9: Budgetary Planning (5 sections): See Study Guide Chapter 10: Budgetary Control and Responsibility Accounting (4 sections): See Study Guide Unit Resources (2 presentations): See Study Guide
Discuss: Unit V Discussion Board 2%
Submit: Unit V Lab Assignment 6%
Unit VI Standard Costs and Balanced Scorecard [ Weight: 17% ]
Read/View: Unit VI Study Guide Chapter 11: Standard Costs and Balanced Scorecard (4 sections): See Study Guide Unit Resource (1 presentation): See Study Guide
Discuss: Unit VI Discussion Board 2%
Submit: Unit VI Lab Assignment Unit VI Project
6% 9%
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Unit VII Capital Investments and Statement of Cash Flows [ Weight: 8% ]
Read/View: Unit VII Study Guide Chapter 12: Planning for Capital Investments (5 sections): See Study Guide Chapter 13: Statement of Cash Flows (3 sections): See Study Guide Unit Resources (2 presentations): See Study Guide
Discuss: Unit VII Discussion Board 2%
Submit: Unit VII Lab Assignment 6%
Unit VIII Financial Analysis [ Weight: 17% ]
Read/View: Unit VIII Study Guide Chapter 14: Financial Analysis: The Big Picture (3 sections): See Study Guide Unit Resource (1 presentation): See Study Guide
Discuss: Unit VIII Discussion Board 2%
Submit: Unit VIII Lab Assignment Unit VIII Project
6% 9%
BUS 3620, Managerial Accounting 7
BUS 3620, Managerial Accounting
Course Syllabus
Course Description
Course Textbook(s)
Course Learning Outcomes
Academic Integrity
Credits
Course Structure
Unit Assignments
Unit I Lab Assignment
Unit II Lab Assignment
Unit II Project
Unit III Lab Assignment
Unit IV Lab Assignment
Unit IV Project
Unit V Lab Assignment
Unit VI Lab Assignment
Unit VI Project
Unit VII Lab Assignment
Unit VIII Lab Assignment
Unit VIII Project
Submitting Course Papers/Projects
APA Guidelines
Grading Rubrics
Communication Forums
Schedule/Grading
