- Principles of Accounting 1
- Principles of Accounting 2
- Business Law 1
- Macroeconomic Principles
- Microeconomic Principles
- Money and Banking
- Principles of Financial Management
- Information System Fundamentals
- Management Information Systems
- Introduction to Management Organizational Behavior
- Operations Management
- Global Strategy and Policy
- Marketing Management
- Quantitative Methods in Administration
Principles of Accounting 2
Course Description Fall 2018 Syllabus FAQS
Introduction to managerial accounting concepts. Emphasis is placed on use of accounting information in decision-making.
Course Prerequisites and Credit Hours and Time Commitments
Principles of Accounting 2 (ACG 2071) 3 credits
Prerequisite: ACG 2021 with grade of “C” or better
Introduction to managerial accounting concepts. Emphasis is placed on use of accounting
information in decision-making.
Professor Information
Bill Urquhart
KH 111A
urquhart@fau.edu
O 561-297-2836
H 561-736-7972
Professor’s Office Hours
Monday 10:00 am – 1:00 pm
Tuesday 10:30 am – 11:45am, 1:00 – 1:45 pm, 3:30 – 4:00 pm
Thursday 10:30 am – 11:45am, 1:00 – 1:45 pm
Teaching Assistant Information
David Cordrey
Lucia DeSanto
Holly Rand
Jelain Smith
Office – KH 111
561-297-3644
Teaching Assistant’s Office Hours
Monday 9:30 am to 12:30 pm, 4:00 to 7:00 pm
Tuesday 9:30 am to 12:30 pm, 1:00 pm to 7:00 pm
Wednesday 9:30 am to 12:30 pm, 1:00 pm to 7:00 pm
Thursday 9:30 am to 7:00 pm
Supplemental Course Description
ACG 2071 is the second course in accounting principles. It is designed to acquaint students with accounting concepts and their underlying theories. It is an introduction to managerial accounting concepts with emphasis placed on use of accounting information in decision making. The objective of this course is to help students develop a solid understanding of costs and cost behavior and the use of cost information for planning, controlling, and making managerial decisions. It also helps develop an understanding of management accounting systems as well as the interrelationships of management accounting and financial accounting..
WARNING!!!! Accounting is more than just “putting the numbers in the boxes”. The study of accounting at the college level is typically rigorous and requires a significant level of dedication. Students who expect to succeed, should, therefore, be prepared to invest the appropriate amount of time and effort.
This is a “Lecture Capture” Course. This means that you have the option to attend the live class on Tuesdays and Thursdays at 9:00 am in BU 302 or you can watch the class online either live or at your convenience through Canvas. Each day there is a taping, the lecture is made available later that evening.
Required Text and Materials
Financial and Managerial Accounting: Information for Decisions- 7th Edition.
Authors: Wild, Shaw, Chiapetta
Publisher: McGraw-Hill
ISBN-9781260004823
How to purchase the textbook and connect access:
The FAU bookstore sells a loose-leaf text packaged with the connect code. They also sell a connect access that includes an eBook.
Students are not required to have a printed text, but they are required to have a connect access code.
Students who rent a book or purchase a used text will still need to purchase connect access.
Students can purchase access to connect and an eBook through the course connect website.
Loose-leaf + connect code: ISBN-9781260088694
Connect code with eBook: ISBN-9781260004823
Students with a valid code (used only once) from Accounting Principles 1 should not need a new code. Just sign in to the Accounting Principles 2 connect site for Fall 2018 by using the same user name and password that was used for Accounting Principles 1.
Please access the connect web site through Canvas to complete all assignments.
Course Learning Objectives
- Define managerial accounting, explain the differences and similarities between financial accounting and managerial accounting.
- Identify the three inventory accounts and describe the entries affecting the inventory accounts of a manufacturing company.
- Calculate and explain departmental and companywide overhead rates and the overhead application process. Identify and explain the three components of manufacturing cost: Direct material, direct labor and manufacturing overhead.
- Explain the ways that companies measure the cost of quality throughout the value chain.
- Effectively use formulas to calculate and explain the meaning of cost volume profit related measures such as contribution margin, fixed cost vs. variable cost and break-even analysis.
- Explain how to measure cost behavior to estimate results of short term decisions such as make or buy, special orders, opportunity cost, sunk cost and further processing.
- Prepare a complete master budget including income statement, balance sheet and cash budget. Prepare a flexible budget for any level of activity. Prepare comparative budget statements showing actual results, budgeted results and variances.
- Explain the meaning of standard cost. Demonstrate the ability to calculate manufacturing variances including price and usage variances.
- Explain different tools for measuring company or departmental performance such as responsibility margin, return on investment, residual income and EVA.
- Explain capital budgeting concepts and use the tools for measuring predicted outcomes such as Net Present Value, Payback and Simple Rate of Return.
Grading Scale
The following table shows the letter grades based on percentage totals. This is the basis for your grades. Canvas will show you percentages, but be careful because sometimes assignments will be omitted from the calculation (missed assignments) and the percentages are inflated. To pass this course as a student of the College of Business you must receive a grade of at least “C”.
Your % | Letter Grade |
93% | A |
90% | A- |
87% | B+ |
83% | B |
80% | B- |
77% | C+ |
73% | C |
70% | C- |
67% | D+ |
63% | D |
60% | D- |
Below 60% | F |
Course Evaluation Method | Possible Points | % of Total |
Exam 1 | 75 | 15% |
Exam 2 | 75 | 15% |
Exam 3 | 75 | 15% |
Final Exam | 125 | 25% |
Graded Homework Assignments | 50 | 10% |
LearnSmart Assignments | 100 | 20% |
Total Points Possible | 500 | 100% |
Schedule
August |
Introduction /Chapter 14 Managerial Accounting Concepts & Principles |
23 | Chapter 14 Managerial Accounting Concepts & Principles | |
28 | Ch 15 Job Order Costing & Analysis | 30 | Ch 15 Job Order Costing & Analysis | |
September | 4 | Ch 17 Activity Based Costing & Analysis | 6 | Ch 17 Activity Based Costing & Analysis |
11 | Catch up/review | 13 | Exam 1 – No class | |
18 | Ch 18 Cost Behavior & Cost-Volume-Profit Analysis | 20 | Ch 18 Cost Behavior & Cost-Volume-Profit Analysis | |
25 | Ch 19 Variable Costing & Performance Reporting | 27 | Ch 19 Variable Costing & Performance Reporting | |
October | 2 | Catch up/review | 4 | Exam 2 – No class |
9 | Ch 20 Master Budgets & Performance Planning | 11 | Ch 20 Master Budgets & Performance Planning | |
16 | Ch 20 Master Budgets & Performance Planning | 18 | Ch 21 Flexible Budgets & Standard Costs | |
23 | Ch 21 Flexible Budgets & Standard Costs | 25 | Catch up/review | |
30 | Exam 3 – No class | Nov 1 | Ch 22 Performance Measurement & Responsibility Accounting | |
November | 6 | Ch 22 Performance Measurement & Responsibility Accounting | 8 | Ch 23 Relevant Costing for Managerial Decisions |
13 |
Ch 23 Relevant Costing for Managerial Decisions November 29 - Last day to drop without receiving an "F" |
15 | Ch 24 Capital Budgeting & Investment Analysis | |
20 | Ch 24 Capital Budgeting & Investment Analysis | 22 | No class - Thanksgiving Day | |
27 | Ch 24 Capital Budgeting & Investment Analysis | 29 | Catch up/review | |
December | 6,7,8 Final Exam |
Due dates
Learnsmart assignments will be due at 1:00 PM the day we begin discussing each chapter (Chapters 14 & 15 are an exception):
Chapter 14 – September 2 (11:00 PM)
Chapter 15 – September 2 (11:00 PM)
Chapter 17 – September 4
Chapter 18 – September 18
Chapter 19 – September 25
Chapter 20 – October 9
Chapter 21 – October 18
Chapter 22 – November 1
Chapter 23 – November 8
Chapter 24 – November 15
Homework assignments are due at 11:00 PM on Sunday's as follows:
Chapter 14 – September 2
Chapter 15 – September 2
Chapter 17 – September 9
Chapter 18 – September 23
Chapter 19 – September 30
Chapter 20 – October 21
Chapter 21 – October 28
Chapter 22 – November 11
Chapter 23 – November 18
Chapter 24 – December 2