How does activity-based costing differ from the traditional costing approach?.
Devry ACCT 346 (Introduction to Managerial Accounting) Complete Course Week 1 Discussion 1 Ethics and Ethical Behaviour (graded) The Sarbanes-Oxley Act of 2002 (SOX) has emphasized the importance of ethical ehaviour and codes of conduct. Discuss the costs and benefits of the ethical environment. If a poor ethical environment results in costs to an organization, what are they? Conversely, what are the benefits of a good ethical environment? Discussion 2Managerial and Financial Accounting (graded) Flexibility, timeliness, and forward looking is said to be the prominent trait of modern management accounting, whereas standardization and consistency describe financial accounting. Explain why the focus on these two accounting systems differs. Week 1 Assignment: ACCT 346 Week 1 Course Project Part 1 Week 2 Discussion1: Job Order and Process Costing Systems – The job cost sheet is used to accumulate the three product costs: direct material, direct labor, and factory overhead. Discuss the source documents for determining these amounts (that is, where do we get these numbers, and how we arrive at the overhead?). Why is overhead the most difficult to assign? Job Order and Process Costing Systems – Discussion Describe how the process costing system accumulates and assigns costs by comparing and contrasting to the job order costing system. Week 2 Assignment: ACCT 346 Week 2 Course Project Part 2 Week 3 Discussion 1 CVP Analysis and Variable Costing – Discuss the basic assumptions of CVP analysis and how we can use CVP analysis as mangers in making decisions. Discussion 2 CVP Analysis and Variable Costing – Discuss the difference between variable costing and full costing. Why would income computed under full costing exceed income computed under variable costing if production exceeds sales? Week 3 Assignments: ACCT 346 Week 3 Course Project Part 3 ACCT 346 Week 3 Quiz – Solution 1 (9 Short Questions and MCQs) ACCT 346 Week 3 Quiz – Solution 2 (9 Short Questions and MCQs) Week 4 Discussion 1 Activity-Based Costing and Incremental Analysis – How does activity-based costing differ from the traditional costing approach? When would it give more accurate costs than traditional costing systems? Discussion 2 Activity-Based Costing and Incremental Analysis – Only those costs that change need be included in the decision making process. Evaluate this statement and discuss its merits or shortcomings. Week 4 Assignment: ACCT 346 Week 4 Midterm (Multiple Choice) Week 5 Discussion1 Pricing and Capital Investment Decisions – Pricing Techniques (graded) Compare target costing and cost-plus pricing. When is each the most appropriate method to use? Provide an example of each. Discussion 2 Pricing and Capital Investment Decisions – Capital Budgeting Techniques (graded) Suppose a company has 5 different capital budgeting projects from which to choose, but has constrained funds and cannot implement all of the projects. Explain why comparing the projects NPVs is better than comparing their IRRs. Week 5 Assignment: ACCT 346 Week 5 Course Project Part 4 Week 6 Discussion1 Budgeting and Standard Costing – Budgeting (graded) How does a company effectively use budgets in the planning and control process? Discussion 2 Budgeting and Standard Costing – Standard Costs and Variance Analysis (graded) What role do standard costs play in controlling the operations of a business? Week 6 Assignment: ACCT 346 Week 6 Course Project Part 5 Week 7 Discussion 1-Evaluating Management Performance Responsibility Centers (graded) Compare and contrast the three types of responsibility centers. What is the best way to evaluate a managers performance in each type of center? Discussion 2- Evaluating Management Performance Financial Statement Analysis (graded) Why do managers analyze financial statements? What are they looking for? Week 7 Assignment: ACCT 346 Week 7 Course Project Part 6 Week 8 ACCT 346 Week 8 Final Exam (Multiple Choice and Explanatory)