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1 SYLLABUS ACCOUNTING 3337 FALL 2011 INSTRUCTOR: Dr. Arthur Francia; [email protected] ; 713-743-4826 OFFICE HOURS: Room 370-E MH. To be announced in class. The prerequisite for ACCT 3337 is ACCT 2332. We in the Department of Accountancy and Taxation want your work in each accounting course to be a challenging, rewarding and pleasant experience. Your instructor will try to assist in any and every reasonable way. Please request this assistance as you need, but don't wait until the last few days before an exam. Required Text: There are four options for the text in this course and any one of these texts will meet the requirements. You should purchase only ONE of these texts: 1. Cornerstones of Cost Accounting, Hansen and Mowen, Loose-leaf (South-western Cengage Learning) ISBN 9780538469081 2. Cornerstones of Cost Accounting, Hansen and Mowen, Hardcover (South-western Cengage Learning) ISBN 978053736787 3. Cost Management: Accounting & Control, Hansen, Mowen and Guan, 6 th edition, Hardcover (South-western Cengage Learning) ISBN 9780324559675 4. Cost Management: Accounting & Control, Hansen and Mowen , 5 th edition, Hardcover (South-western Cengage Learning) ISBN 0324233108 BLACKBOARD PACKET MATERIALS: These are provided for you for free on Blackboard COURSE GRADING: Your grade will be determined by the scores on THREE EXAMS (1/3 for each exam) and by class participation for extra credit. COURSE WEBSITE Course Description and Objectives: This course continues your introduction to managerial and cost accounting that was begun in the introductory accounting sequence (ACCT 2331/2332). Management accounting and cost accounting focus on two basic functions in which the management accounting practitioner adds value to the modern organization: 1. The accumulation and transformation of cost data for the purposes of inventory valuation and income determination (the product costing function). 2. The collection and use of cost information to facilitate long- and short-horizon planning and decision making, management control, and performance evaluation (the cost management function). Traditional management accounting systems tended to focus on the first functional area (i.e., the product costing function). To refresh and solidify your foundation knowledge obtained in ACCT 2332, we will review and expand on issues associated with some of the traditional product-costing methods. However, these traditional product costing approaches mainly focused on the valuation of ending inventories, and the accounting systems were usually less adept at providing relevant information to support the decision-making function. Recognizing the need for more accurate product costs and better cost information, management accountants in recent years have focused on changing the existing management accounting systems to remedy this limitation. Cost management systems have been designed to provide relevant cost information for managers to make better choices between alternative courses of action, while at the same time allowing them to satisfy the requirements of their customers.
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2 Summary: The first part of the course deals with product costing and cost allocation. The second and third
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