Course Title:
| Principles of Accounting II | |
Course Materials:
|
Accounting Principles
Edition: 8th
Publisher: Wiley
Author: Weygandt, Kieso & Kimmel
ISBN: 9780471980193
Excel Working Papers t/a Accounting Principles
Edition: 8th
Publisher: Wiley
Author: Weygandt, Kieso & Kimmel
ISBN: 9780470074138
*Please understand that this requires access to Microsoft Excel. | | |
Course Description:
| Prerequisite: ACCT 220. Principles of Accounting II is a continuation of the study of contemporary financial accounting, and an introduction to managerial accounting. The corporate financial accounting topics focus on service, merchandising, and manufacturing entities. Managerial accounting topics include budgets, cost control, and standard costing procedures, variances and responsibility accounting. Students may receive credit for only one of the following courses: ACCT 221, ACCT 301, BMGT 221, MGMT 301, or MGST 301. | |
Course Goals/Objectives:
|
After completing this course, you should be able to:
* Discuss basic financial and managerial accounting concepts.
* Explain the differences between financial and managerial accounting and discuss how each impacts management's decision making process.
* Interpret basic financial accounting statements for corporate entities.
* Analyze specific business situations, then identify and apply the relevant financial and managerial accounting concepts and principles.
* Utilize technology to research ; create graphs, charts, and tables for financial and managerial accounting reporting.
* Communicate clearly and concisely using terminology consistent with the professional accounting community. | |
Course Introduction:
|
As a follow-up course, Accounting 221 continues examining the basic principles, concepts, and practices of financial accounting; and introduces managerial accounting. The corporate accounting portion of this course discusses transactions involved in debt and equity. This course also covers stock splits and accounting for treasury stock.
The managerial accounting portion of this course concentrates on methods used to account for accumulated costs using various costing methods, such as job order, process costing, and activity-based cost accounting. Cost behavior analysis, budgeting, and standard costing are also covered. Managerial concepts, including tracking and controlling the flow of costs and computing contribution margins in a cost-volume-profit relationship are also reviewed. Managerial reports, which differ from financial statements, support organizational leaders in the decision-making process. This course covers the preparation and interpretation of the varied managerial accounting reports. International accounting issues are integrated throughout the course as appropriate. | |
Grading Information and Criteria:
|
Grades in this course will be determined as follows:
Midterm Exam = 35%
Final Exam = 45%
Project = 20%
The grading scale in this course will be determined as follows:
A = 90%-100%
B = 80%- 89%
C = 70%- 79%
D = 60%- 69%
F = 0%- 59%
Above grading criteria should be modified for WebTycho classes to allow a portion of the grade to be provided for Conference participation. Instructor may also add faculty policies on late assignments, attendance, and extra credit.
| |
Other Information:
Any other information the instructor wishes to add. This might include:
* General expectations of students, such as hours per week students should expect to devote to the class.
* Turnaround time for faculty to respond to email and return papers.
* Unique class procedures or activities (such as cooperative learning exercises, panel presentations, case study methods, class journals or learning logs).
* Supplemental objectives (such as development of skills like teamwork, writing, oral presentation; integration of knowledge on focus topics).
* Optional activities such as study groups. | |
Project Descriptions:
| Students will solve selected Managerial Accounting problems as individual and as group assignments. | |
Academic Policies:
Cases of plagiarism are handled consistent with current UMUC guidelines.
See the UMUC policies at the following URL:
http://www.umuc.edu/policy/ | |
Course Schedule:
Meeting 1
Class Introduction
Chapter 14: Corporations: Dividends, Retained Earnings, and Income
Reporting
Problem Set A: P-1 and P-4
Meeting 2
Chapter 15: Long-Term Liabilities
Problem Set A: P-1 and P-7
Meeting 3
Chapter 16: Investments
Problem Set A: P-1 and P-6
Meeting 4
Chapter 17: The Statement of Cash Flows
Problem Set A: P-1 and P-2
Meeting 5
Chapter 18: Financial Statement Analysis
Problem Set A: P-1 and P-3
Meeting 6
Chapter 19: Managerial Accounting
Problem Set A: P-1 and P-5
Meeting 7
Chapter 20: Job Order Cost Accounting
Problem Set A: P-1 and P-4
Meeting 8
Mid-term exam covering Chapters 14-20
Meeting 9
Chapter 21: Process Cost Accounting
Problem Set A: P-1 and P-7
Meeting 10
Chapter 22: Cost-Volume-Profit
Problem Set A: P-2 and P-6
Meeting 11
Chapter 23: Budgetary Planning
Problem Set A: P-1 and P-6
Meeting 12
Chapter 24: Budgetary Control and Responsibility Accounting
Problem Set A: P-4 and P-6
Meeting 13
Chapter 25: Standard Costs and Balanced Scorecard
Problem Set A: P-2 and P-4
Meeting 14
Chapter 26: Incremental Analysis and Capital Budgeting
Problem Set A: P-3 and P-6
Meeting 15
Review and Catch-Up
Meeting 16
Comprehensive Final Exam
Instructors should modify the above schedule to indicate due dates for
the above assignments and inform their students how they want the
assignments submitted. | |
Search
MyUMUC
WebTycho