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Prepare the accounting entries and other supporting information for management accounting reports for manufacturing and service entities
Assessment Strategies
by completion of homework assignments
by results of in-class, closed book exams
Criteria
contribution margin income statements and various other management reports are prepared
balance sheets are prepared
the proper headings are used on all financial statements
appropriate subtotals are properly used and calculated
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Determine the components of mixed manufacturing costs
Assessment Strategies
by completion of homework assignments
by results of in-class, closed book, exams
by quizzes and excel projects
Criteria
the high low method is used to classify fixed and variable cost
the scatter graph method is used to classify fixed and variable cost
regression analysis is used to classify fixed and variable cost
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Assign costs within a job order environment
Assessment Strategies
through the use of "T" accounts, general journal entries, and subsidiary ledgers
by completion of homework assignments
by results of in-class, closed book exams
Criteria
direct material is properly tracked
direct labor is properly tracked
manufacturing overhead is properly applied
susidiary ledgers properly are properly reconciled to the general ledger control account
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Assign costs within a process costing environment
Assessment Strategies
through the use of "T" accounts and general journal entries
by the preparation of production reports both manually and in excel
by completion of homework assignments
by results of in-class, closed book, exams
Criteria
process costs are properly tracked
per unit manufacturing costs are properly calculated
cost transferred is properly calculated
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Allocate support department costs
Assessment Strategies
by the preparation of support department allocation worksheets
by completion of homework assignments
by results of in-class, closed book, exams
Criteria
costs are allocated using the direct method
costs are allocated using step method
costs are allocated using reciprocal method
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Allocate joint product costs
Assessment Strategies
by completion of homework assignments
by results of in-class, closed book, exams
Criteria
allocation is performed using physical unit methods
allocation is performed using relative sales value methods
allocation is performed using constant gross margin methods
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Develop a primary and flexible budget
Assessment Strategies
by preparation of an excel budget spreadsheet
by completion of homework assignments
by results of in-class, closed book, exams
Criteria
budgets are prepared with the proper subtotals and headings
all budgets are properly calculated
all supporting budgets are properly linked
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Assign costs using an Activity Based Costing (ABC) system
Assessment Strategies
by completion of homework assignments
by results of in-class, closed book, exams
Criteria
all overhead costs are properly assigned to activities
all activity costs are properly assigned to products
costs generated by an ABC system can be reconciled with costs generated by a traditional cost accounting system
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Track costs with a standard costing system and evaluate variances
Assessment Strategies
through the use of "T" accounts and general journal entries
by completion of homework assignments
by results of in-class, closed book, exams
Criteria
direct material, direct labor, and overhead standards are set
direct material, direct labor, and overhead are properly calculated and booked
direct material, direct labor, and overhead variances are properly calculated and booked
the possible causes of variances are identified
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Use Cost Volume Profit analysis techniques
Assessment Strategies
by the preparation of contribution margin income statements
by completion of homework assignments
by results of in-class, closed book, exams
Criteria
volume (dollars and units) to break even are properly calculated
volume (dollars and units) to achieve a before tax profit goal are properly calculated
volume (dollars and units) to achieve an after tax profit goal are properly calculated
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Use capital investment analysis tools properly
Assessment Strategies
by the preparation of report analysis for various investment situations
by completion of homework assignments
by results of in-class, closed book exams
Criteria
NPV, IRR, cash flow, payback, accounting rate of return analysis is properly calculated and presented
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Conduct a financial analysis
Assessment Strategies
Group Presentation
Criteria
Presentation targets a global company
Complete horizontal and vertical analysis
Complete financial ratios
Compare and contrast ratio focus between domestic and international markets
Recognize differences in terms and currencies
Identify strengths and weaknesses in the company and possible corrective action
Presentation graphics are clear and support findings
Use correct grammar, punctuation and spelling
Assess the work of your group members and other groups
Demonstrate awareness of and sensitivity to other cultures’ norms, practices, and actions while at the same time recognizing, acknowledging, and appreciating individual difference. (ILO CULTURAL AWARENESS 2015)
Communicate effectively and respectfully with diverse peoples in intercultural teams and work groups. (ILO INTERCULTURAL COMMUNICATION 2015)
Recognize self as a part of global culture by demonstrating awareness of the interdependence of global systems; by understanding how the U.S. may be perceived world-wide; by solving problems with multiple perspectives and variables; and by making globally responsible decisions. (ILO GLOBAL CITIZENSHIP 2015)
Apply global perspectives to the work place through the use of appropriate technology for international communication, the ability to collaborate with diverse co-workers, the ability to adapt to variances between cultures in occupational processes, procedures and practices, and through recognizing the impact of the global economy on various occupations and professions. (ILO GLOBAL WORK SKILLS 2015)