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Online · School of Business · Accounting, Economics, and Finance

Advanced Cost Accounting
ACCT-521

  • CG
  • Section 8WK
  • 11/08/2019 to 04/16/2020
  • Modified 01/28/2020

Course Description

This course will examine the importance of analyzing and managing costs; activity-based management, process costing and cost allocation; planning and decisions making, and evaluating and managing performance. This course is designed primarily for accounting/finance majors who seek careers or are already employed in for profit corporations or not for profit organizations as public (such as CPAs) or private (such as controllers and/or CMAs or CFMs) accounting/business leaders in a fast changing, highly technically oriented society.

Requisites

Prerequisites

ACCT 531 and ACCT 511 or BUSI 532 and (BMAL 590 or Meets BMAL590 / 27 hrs in BUSI with a score of 3)

Rationale

This course is designed for advanced accounting students and gives both a technical view of managerial accounting and increased interaction with current research on advanced topics. It will assist company decision makers in a very practical manner.

Measurable Learning Outcomes

Upon successful completion of this course, the student will be able to:

  1. Contrast process-costing from job-order costing.
  2. Justify the importance of analyzing and managing costs.
  3. Evaluate financial and cost-volume-profit models.
  4. Propose an organizational design based on managerial accounting concepts.
  5. Evaluate cost accounting concepts in light of a biblical worldview.

Course Resources

Required Resource Purchase

Lanen, W. N., Anderson, S. W., & Maher, M. W. (2020). Fundamentals of cost accounting (6e ed.). New York, NY: McGraw-Hill. (This required resource has been provided in this course as an e-book). However, if the student prefers a physical copy of the book, he or she may purchase it through the Liberty University Online bookstore, MBS Direct. The purchase of the physical copy of the textbook is optional.

Disclaimer: The above resources provide information consistent with the latest research regarding the subject area. Liberty University does not necessarily endorse specific personal, religious, philosophical, or political positions found in these resources.

Recommended Resource

American Psychological Association. Publication manual of the American Psychological Association (Current ed.). Washington, DC: Author.

Additional Materials for Learning

    1. Computer with basic audio/video output equipment
    2. Internet access (broadband recommended)
    3. Blackboard recommended browsers
    4. Microsoft Word

Course Assignments

Textbook readings and lecture presentations

Course Requirements Checklist

After reading the Syllabus and Student Expectations, the student will complete the related checklist found in Module/Week 1.

Discussion Board Forums (2)

Discussion boards are collaborative learning experiences. Therefore, the student is required to provide a thread in response to the provided topic for each forum. Each thread must be at least 300 words and demonstrate course-related knowledge. In addition to the thread, the student is required to reply to at least 2 other classmates’ threads. Each reply must be at least 150 words.

Connect Plus Homework (8)

The student will be assigned homework to complete in Connect Plus. At the end of the assigned module/week, Connect Plus will automatically grade all of the assignments, and the instructor will then download the results and place the scores within Blackboard.

Individual Paper

The student will write a research paper on an advanced study of a topic related to this course; the student will determine the advanced topic. The paper must be 7–10 pages, not including any tables, graphs, etc. A minimum of 6 accounting journal sources must be utilized, all of which must have been published within the last 3 years. Current APA formatting is required.

Individual PowerPoint

The student will create a PowerPoint presentation (approximately 12 minutes, 10–12 slides) showing how a topic covered in the course is connected to the student’s workplace. The student should incorporate actual samples from the job site and a narrative explanation of each slide using the presentation notes feature. All materials must be properly cited and quoted in current APA style. All sources must be less than 3 years old.

Peer Evaluation

Members will be assigned to work on the Group Faith Integration paper. Each group will have between four or five members. Failure to submit a peer evaluation will result in a reduction of the student’s peer grade.

Group Faith Integration

A minimum 1000-word essay will be worked on as a group in the Group Discussion Board and then posted to the class wide Discussion Board for everyone to see. Replies are not necessary; however, they are strongly encouraged. The student must briefly describe how the Bible is related to the topics covered in the course. An integration of the Bible must be explicitly shown, in relation to a course topic, in order to receive points. In addition, at least 2 other outside, scholarly sources, including the textbook, must be used to substantiate the group’s position. This assignment must be submitted to SafeAssign as well as in the Discussion Board post.

Connect Plus Exams (3)

In Modules/Weeks 2, 5, and 8, you will be expected to complete exams within Connect Plus. Each exam will be open-book/open-notes.

Course Grading

Course Requirements Checklist

10

Discussion Board Forums (2 at 50 pts ea)

100

Connect Plus Homework (1 at 27 pts; 6 at 35 pts ea; 1 at 43 pts)

280

Individual Paper

150

Individual PowerPoint

100

Group Faith Integration includes 15 points for peer evaluation

100

Connect Plus Exams (3 at 90 pts ea)

270

Total

1010

Policies

Late Assignment Policy

Course Assignments, including discussion boards, exams, and other graded assignments, should be submitted on time.

If the student is unable to complete an assignment on time, then he or she must contact the instructor immediately by email.

Assignments that are submitted after the due date without prior approval from the instructor will receive the following deductions:

  1. Late assignments submitted within one week after the due date will receive up to a 10% deduction.
  2. Assignments submitted more than one week and less than 2 weeks late will receive up to a 20% deduction.
  3. Assignments submitted two weeks late or after the final date of the course will not be accepted outside of special circumstances (e.g. death in the family, significant personal health issues), which will be reviewed on a case-by-case basis by the instructor.
  4. Group projects, including group discussion board threads and/or replies, and assignments will not be accepted after the due date outside of special circumstances (e.g. death in the family, significant personal health issues), which will be reviewed on a case-by-case basis by the instructor.

Disability Assistance

Students with a disability and those with medical conditions associated with pregnancy may contact Liberty University’s Online Office of Disability Accommodation Support (ODAS) at [email protected] for accommodations.  Such accommodations require appropriate documentation of your condition.   For more information about ODAS and the accommodations process, including how to request an accommodation, please visit https://www.liberty.edu/online/online-disability-accommodation-support/. Requests for accommodations not related to disabilities or pregnancy must be directed to the Registrar’s Office, which generally handles medical needs support.

If you have a complaint related to disability discrimination or an accommodation that was not provided, you may contact ODAS or the Office of Equity and Compliance by phone at (434) 592-4999 or by email at [email protected].  Click to see a full copy of Liberty’s Discrimination, Harassment, and Sexual Misconduct Policy or the Student Disability Grievance Policy and Procedures.

Course Attendance

In an effort to comply with U.S. Department of Education policies, attendance is measured by physical class attendance or any submission of a required assignment within the enrollment dates of the course (such as examinations, written papers or projects, any discussion board posts, etc.) or initiating any communication with one’s professor regarding an academic subject. More information regarding the attendance policy can be found in the Academic Course Catalogs. Regular attendance in online courses is expected throughout the length of the term. Students who do not attend within the first week of a sub-term by submitting a required academic assignment (such as the Course Requirements Checklist, an examination, written paper or project, discussion board post, or other academic activity) will be dropped from the course. Students who wish to re-engage in the course are encouraged to contact Academic Advising to discuss their enrollment options. Students who begin an online course, but at some point in the semester cease attending, and do not provide official notification to withdraw, will be assigned a grade of “FN” (Failure for Non-Attendance). Students wishing to withdraw from courses after the official start date should familiarize themselves with the withdrawal policy.

Grading Scale

A- B+ B B- C+ C C- D+ D D- F
940-1010 920-939 900-919 860-899 840-859 820-839 780-819 760-779 740-759 700-739 680-699 679 and below

For courses with a Pass/NP final grade, please refer to the Course Grading section of this syllabus for the assignment requirements and/or point value required to earn a Passing final grade.

Add/Drop Policy

The full policy statement and procedures are published in the Policy Directory.

Honor Code

Liberty University comprises a network of students, Alumni, faculty, staff and supporters that together form a Christian community based upon the truth of the Bible. This truth defines our foundational principles, from our Doctrinal Statement to the Code of Honor. These principles irrevocably align Liberty University’s operational procedures with the long tradition of university culture, which remains distinctively Christian, designed to preserve and advance truth. Our desire is to create a safe, comfortable environment within our community of learning, and we extend our academic and spiritual resources to all of our students with the goal of fostering academic maturity, spiritual growth and character development.

Communities are predicated on shared values and goals. The Code of Honor, an expression of the values from which our Doctrinal Statement was born, defines the fundamental principles by which our community exists. At the core of this code lie two essential concepts: a belief in the significance of all individuals, and a reliance on the existence of objective truth.

While we acknowledge that some may disagree with various elements of the Code of Honor, we maintain the expectation that our students will commit to respect and uphold the Code while enrolled at Liberty University.

Adherence to the principles and concepts established within facilitates the success of our students and strengthens the Liberty community.

The Code of Honor can be viewed in its entirety at http://www.liberty.edu/index.cfm?PID=19155.

Schedule

ACCT 521

Textbook:    Lanen et al., Fundamentals of Cost Accounting (2020).

Module/Week

Reading & Study

Assignments

Points

1

Lanen et al.: chs. 1–2

1 presentation

Course Requirements Checklist

Class Introductions

DB Forum 1

 Connect Plus Homework 1

10

0

50

35

2

Lanen et al.: chs. 3–5

1 presentation

Connect Plus Homework 2

Connect Exam 1

35

90

3

Lanen et al.: chs. 6–7

1 presentation

Connect Plus Homework 3

Individual Paper

35

150

4

Lanen et al.: chs. 8–9

1 presentation

 Connect Plus Homework 4

DB Forum 2

35

50

5

Lanen et al.: chs. 10–11

1 presentation

Connect Plus Homework 5

Peer Evaluation 1

Connect Plus Exam 2

27

0

90

6

Lanen et al.: chs. 12–13

1 presentation

  Connect Plus Homework 6

Individual PowerPoint

Peer Evaluation 2

35

100

0

7

Lanen et al.: chs. 14–15

1 presentation

 Connect Plus Homework 7

Group Faith Integration

Peer Evaluation 3

35

100

0

8

Lanen et al.: chs. 16–18, appendix

1 presentation

Connect Plus Homework 8

Connect Plus Exam 3

43

90

Total

1010

DB = Discussion Board

NOTE: Each course module/week begins on Monday morning at 12:00 a.m. (ET) and ends on Sunday night at 11:59 p.m. (ET). The final module/week ends at 11:59 p.m. (ET) on Friday.