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CANADIAN INSTITUTE OF MANAGEMENT
HAMILTON BRANCH
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COURSE OUTLINE
M3A - Managerial Accounting
| TEXT: |
Fundamental Accounting Principals ( 11th Canadian Edition, Volumes I to IIII ) Larsen, Wild, Chiapetta, Nelson, Carroll and Zin McGraw-Hill Ryerson Ltd., ISBN: 0070948275 |
| INSTRUCTOR: | Barry Smuk |
The following is an estimate of the time commitment required by a student to
successfully complete this course:
(a) Class Time (13 Sessions/3 hours) 39 hours
(b) Class Preparation (Est 2 hours per class) 26 hours
(c) Take Home Assignments and assigned work to make up 20% of class mark 15 hours
COURSE OBJECTIVES & DESCRIPTION
This course in Managerial Accounting has been designed to enable the student to acquire the skills necessary to use, interpret and analyze accounting data. The ultimate objective is to enable the student to become a better manager.
The student should:
1. acquire an understanding of the principles used to prepare financial statements.
2. learn how to read and understand financial statements and to observe the effects of routine business transactions on them.
3. acquire the skills necessary to read, interpret and perform the calculations for the accounting reports involved in cost control and profit planning.
4 be able to identify financial strengths and weaknesses of a business through appropriate analysis
Important management accounting concepts that are covered include the financial accounting process, including the preparation of financial statements in accordance with generally accepted accounting principles, accounting for a manufacturing concern, job order and process cost accounting, departmental accounting, cost-volume-profit analysis and the master budget.
The following timetable is for reference only.
Actual course calendar will be distributed at the first class.
| SESSION | TOPICAL OUTLINE | TEXT REFERENCE |
PAGE |
|
|
VOL. 1 |
||||
| 1. | Accounting in the Information Age | Chapter 1 | 28 | QS. 1-1 to 1-5 |
|
Financial statements & Accounting Transactions |
Chapter 2 |
63-64 67 72-73 |
QS. 2-1 to 2-5 EX. 2-9 to 2-11 PR 2-5A |
|
| Analyzing & Recording Transactions | Chapter 3 | QS. 3-1 to 3-6 PR 3-1A |
||
| 2. | Adjusting Accounts for Financial Statements | Chapter 4 | 169-170 172-173 178-179 |
QS 4-1 to 4-5 EX. 4-4, 4-7 PR. 4-6A |
|
Completing the Accounting Cycle & Classifying Accounts |
Chapter. 5 |
228-229 | QS. 5-1 to 5-6 | |
| Accounts | 244 | PR. 5-4A | ||
| 3. | Accounting for Merchandising Activities | Chapter 6 | 310-310 314-315 324 |
QS 6-1 to 6-7 EX. 6-1, 6-2 PR. 6-1A |
| 4. | Merchandise Inventories & Cost of Goods Sold | Chapter 7 | 379-381 384-385 |
QS 7-1 to 7-11 EX. 7-8, 7-11 |
|
VOL. 2 |
||||
| 5. | Capital Assets: Plant and Equipment | Chapter 12 | 648 649-650 652-653 660 |
QU 1, 4 & 7 QS 12-1 to 12-10 EX. 12-2, 12-4 & 12-9 PR 12-7A |
| 6. | Corporations | Chapter 15 | 756-769 | None |
| 7. | MID TERM TEST | |||
| 8. | Reporting and Analyzing Cash Flows | Chapter 19 | 1007-1009 1012 1017-1018 |
QS 19-1 to 19-10 (not 19-9) EX 19-5 & 19-6 PR 19-1a & 19-2a |
|
VOL. 3 |
||||
| 9. | Managerial Accounting Concepts and Principles | Chapter 21 | 1123-1124 1126 1133 |
QS 21-4 to 21-9 EX. 21-5 PR. 21-5A |
| Manufacturing and Job Order Costing | Chapter 22 | 1172-1173 1182-1183 |
QS 22-2 to 22-9 PR. 22-4A |
|
| 10. | Cost Allocation and Performance |
Chapter 24
|
1280 1282 1286 |
QS. 24-3 to 24-5 EX. 24-6 PR. 24-3A |
| 11. | Cost-Volume-Profit Analysis | Chapter 25 | 132-1329 1331 1333 |
EX. 25-10, 25-13 PR. 25-3A (parts 1 & 2) PR. 25-6A (parts 1,2 & 3) |
| 12. | Master Budgets and Planning | Chapter 26 | 1374-1375 1375-1376 |
QS 26-1 to 26-8 EX. 26-2, 26-3 |
| 13. | Review | |||
| 14. | FINAL EXAM |
TERM WORK:(50%)
It is strongly recommended that students turn in selected assignments
on a regular basis to form part of the formal evaluation of student progress.
A mid-term examination will form the remaining component of course work evaluation.
FINAL EXAMINATION:(50%)
The final exam will be held on Tuesday, December 12. It will consist of questions, problems and/or
short cases related to the topics outlined on this course of study.
Students writing these exams may use a non-programmable financial calculator.
The final grade will be based on:
| Mid Term Work | 30% |
| Selected Assignments | 20% |
| Final Examination | 50% |
| Total Course Mark | 100% |
GRADES:
| Final Grade | Grade Mark |
| A+ | 90% - 100% |
| A | 80% - 89% |
| B+ | 77% - 79% |
| B | 70% - 76% |
| C+ | 67% - 69% |
| C | 60% - 66% |
| F | 59.9% and less |
| AUD | Audit |
| INC | Incomplete |