ACC310 Cost Accounting I
Week 1 Discussion
DQ1 Accrual Accounting Case Study [WLO: 1] [CLOs: 1, 2, 6]
Prior to beginning work on this discussion, read Chapters 1, 2, and 3 in the textbook.
Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.
Accrual accounting matches revenue with expenses, but accruals can be used to manipulate income and expenses. In the Forbes article Cash Doesn’t Lie (Links to an external site.), author Daniel Fisher discusses the use of negative accruals, changes to estimates, and recognizing income before it is earned. Read the article and then
Discuss the use of each of these three techniques and their effect on current and future earnings reporting.
Explain how changes of accounting estimates that significantly affect income should be reported.
Should they be regarded as a change in accounting principle?
Research revenue recognition and discuss the accounting rules violated that brought down the company Sunbeam.
DQ2 Judgement in Measuring Costs Reflection [WLOs: 1, 2, 3, 4] [CLOs: 1, 2, 3, 5, 6]
Prior to beginning work on this discussion, read Chapters 1, 2, and 3 in the textbook.
Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.
Much of cost accounting requires individuals to use their own judgment. Measuring costs is no exception. In your own words, explain why the use of judgment in cost measurement can lead to markedly different results even within the same firm. Would you not think that, at least within their own organization, management could establish some guidelines for ensuring that cost measurement is done primarily the same way by individuals within the organization? If so, how would that be accomplished? If not, why not? Use an example to illustrate your point.
ACC310 Cost Accounting I
Week 2 Discussion
DQ1 Allocation of Costs Reflection [WLOs: 1, 2, 3, 4] [CLOs: 3, 6]
Prior to beginning work on this discussion forum, read Chapters 4, 5, and 17 in your textbook.
Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.
Some managers believe that allocated costs are arbitrary and therefore not relevant, and that only costs that are direct costs should be reported. Explain why you believe all costs are relevant and why allocation of costs is necessary for accurate financial reporting.
DQ2 Cost Drivers Scenario [WLOs: 1, 2, 3, 4] [CLOs: 3, 6]
Prior to beginning work on this discussion forum, read Chapters 4, 5, and 17 in your textbook.
Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.
Determine the difference between a cost object and a cost driver by giving an example of each within the context of a manufacturing plant of your own choosing. Be specific. Explain why this differentiation is important in activity-based costing (ABC).
ACC310 Cost Accounting I
Week 3 Discussion
DQ1 Allocation of Costs Reflection [WLOs: 1, 2, 3, 4] [CLOs: 3, 6]
Prior to beginning work on this discussion forum, read Chapter 22 in your textbook.
Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.
Transfer pricing between divisions in a decentralized organization can be a hot topic of conversation. Explain the issues that surround transfer pricing within organizations and give at least three examples of different options a firm may consider when trying to arrive at a fair transfer price for a product. List the pros and cons for the selling division as well as the purchasing division for each scenario presented.
DQ2 Cost Drivers Scenario [WLOs: 1, 2, 3, 4] [CLOs: 3, 6]
Prior to beginning work on this discussion forum, read Chapters 10, 11, and 13 in your textbook.
Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.
A manager in your organization tells you over coffee one morning, “Differential costing is easy; variable costs are the only costs that are relevant.” As the organization’s accountant, how would you respond to this statement?
Later in your conversation this same manager opens a folder and produces a document he just received regarding a special order at a price that he believes is “below cost.” The manager is opposed to accepting orders of this nature because he feels every sale needs to carry a fair share of full costs in order to keep the company from failing. What would be your reply to this manager?
ACC310 Cost Accounting I
Week 4 Discussion
DQ1 Balanced Scorecard Reflection [WLO: 1] [CLOs: 2, 3, 5, 6]
Prior to beginning work on this discussion forum, read Chapter 12 in your textbook.
Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.
A Balanced Scorecard is used by a firm to measure progress in each of four areas:
financial
customer perspective
internal-business-process
learning-and-growth
Assume you own a small business with eight employees. It can be a service business or a product-producing business, your choice. In your own words, describe the four measures listed above and then, for your business, give us an example of each measure you might use to track your business process, and indicate why you chose that particular measure.
DQ2 Single and Dual Rates of Allocations [WLO: 2] [CLOs: 2, 3, 6]
Prior to beginning work on this discussion forum, read Chapter 15 in your textbook.
Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.
Allocation of support costs in a manufacturing operation is a topic often debated by managers of the various production departments. In your own words explain the difference between the single-rate and dual-rate methods of support-department allocation and give an example of when each method might be appropriate.
ACC310 Cost Accounting I
Week 5 Discussion
DQ1 Master Budget Reflection [WLOs: 1, 2, 3] [CLOs: 1, 5, 6]
Prior to beginning work on this discussion forum, read Chapters 6, 7, and 8 in your textbook.
Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.
Many organizations operate with an annual budget as their guide. This helps the organization ensure that their spending relates to their strategic goals and acts as a tracking measure of progress each accounting period. In your own words, explain the concept of a master budget and explain each of the sub-budgets that are created to support the creation of that master budget. List these sub-budgets in the order in which they would be prepared to arrive at the end result, the master budget.
DQ2 Flexible Budget Reflection [WLOs: 1, 2, 3] [CLOs: 1, 3, 5, 6]
Prior to beginning work on this discussion forum, read Chapters 7 and 8 in your textbook.
Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.
Some individuals assume that a flexible budget means the organization just changes the budget whenever something happens that was not budgeted. Nothing could be further from the truth. In your own words explain the concept of a flexible budget, why it is used, and what value it serves managers within the organization. Illustrate the use of a flexible budget with an example.
ACC310 Cost Accounting I
Week 1 Assignment
MyAccountingLab Chapters 1, 2, and 3 Assignment
Prior to beginning work on this assignment, read Chapters 1, 2, and 3 in the textbook. You may want to review the MyLab resources to reinforce any areas you are unclear on (optional).
Chapter 1: The Manager and Management Accounting
Ex 1-17
Chapter 2: An Introduction to Cost Terms and Purposes
Problem 2-35
Problem 2-38
Chapter 3: Cost-Volume-Profit Analysis
Problem 3-39
Problem 3-51
Problem 3-52
ACC310 Cost Accounting I
Week 2 Assignment
Chapter 4: Job Costing
Problem 4-39
Problem 4-41
Chapter 5: Activity-Based Costing and Activity-Based Management
Problem 5-35
Problem 5-39
Chapter 17: Process Costing
Problem 17-36
ACC310 Cost Accounting I
Week 3 Assignment
Chapter 10: Determining How Costs Behave
Ex 10-25
Ex 10-32
Chapter 11: Decision Making and Relevant Information
Problem 11-34
Problem 11-36
Problem 11-41
Chapter 13: Pricing Decisions and Cost Management
Problem 13-30
Problem 13-31
Chapter 22: Management Control Systems, Transfer Pricing, and Multinational Considerations
Problem 22-26
Problem 22-33
ACC310 Cost Accounting I
Week 4 Assignment
Prior to beginning work on this assignment, read Chapters 12, 15, 16, and 18 in your textbook.
Chapter 12: Strategy, Balanced Scorecard, and Strategic Profitability Analysis
Problem 12-37
Chapter 15: Allocation of Support-Department Costs, Common Costs, and Revenues
Problem 15-27
Problem 15-30
Chapter 16: Cost Allocation—Joint Products and Byproducts
Problem 16-41
Chapter 18: Spoilage, Rework, and Scrap
Problem 18-40
Problem 18-41
ACC310 Cost Accounting I
Week 5 Assignment
Prior to beginning work on this assignment, read Chapters 6, 7, 8, and 9 in your textbook.
Chapter 6: Master Budget and Responsibility Accounting
Problem 6-35
Chapter 7: Flexible Budgets, Direct-Cost Variances, and Management Control
Problem 7-37
Chapter 8: Flexible Budgets, Overhead Cost Variances, and Management Control
Problem 8-35
Chapter 9: Inventory Costing and Capacity Analysis
Problem 9-34
Problem 9-47
ACC310 Cost Accounting I
Week 5 Assignment
Final Paper
Cost Accounting Final Paper
Prior to beginning work on the final paper, read the entire assignment and rubric, then review Chapters 6, 7, 8, and 9 in your textbook and any chapters from earlier weeks that are relevant to areas of this paper.
The purpose of the final paper is for you to demonstrate the learning achieved in the course by describing your understanding and application of knowledge in the field of accounting.
The paper must
Identify the main issues in the chosen area.
Contain and reference new learning that has occurred.
Build upon class activities or incidents that facilitated learning and understanding.
Present specific current and/or future applications and relevance to the typical workplace.
The Final Paper should also focus on real-life, real-time application of topics covered in this course: the uses you have seen and the uses you can envision. The paper must be submitted to your instructor no later than 11:59 pm of the time zone in which you reside on the last day of class.
Submit a paper on one of the major topics listed below and incorporate at least five scholarly/peer-reviewed or credible sources of your choice in addition to the course textbook, including a minimum of two from the University of Arizona Global Campus Library. Support your statements by citing real world examples and include a complete references list in APA format at the end of the paper.
Choice 1: Cost-Volume-Profit Analysis
How does a firm use “Cost-Volume-Profit Analysis” to assess performance?
How would you use such a system to measure how costs change as production changes?
How do you develop a “break-even analysis” for a given firm, and how would you use it?
Choice 2: Activity Based Costing
What is “Activity Based Costing” and how does it work?
What does it do for a firm employing such a system?
How do you go about developing such a system in a firm?
What are the steps?
What would an example look like?
Choice 3: Cost Accounting
Why is cost accounting so important to the success of the firm?
What are the various methods of cost accounting and how are they used?
Choice 4: Operating Budgets
How does an operating budget work to discipline a firm’s management?
What are the elements of a budget?
How are budgets constructed?
What is “Variance Analysis” and how is it used?
The Cost Accounting Final Paper
Must be eight to 10 double-spaced pages in length, and formatted according to APA style (Links to an external site.) as outlined in the Writing Center.
Must include a title page with the following:
Title of paper
Student’s name
Course name and number
Instructor’s name
Date submitted
For further assistance with the formatting and the title page, refer to APA Formatting for Microsoft Word (Links to an external site.).
Must utilize academic voice. See the Academic Voice (Links to an external site.) resource for additional guidance.
Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear and succinct thesis statement that indicates the purpose of your paper.
Must address the topic of the paper with critical thought.
Must end with a conclusion that reaffirms your thesis.
For assistance on writing Introductions & Conclusions (Links to an external site.) as well as Writing a Thesis Statement (Links to an external site.), refer to the Writing Center resources.
Must use at least five scholarly/peer-reviewed or credible sources in addition to the course text, including a minimum of two from the University of Arizona Global Campus Library.
The Scholarly, Peer-Reviewed, and Other Credible Sources (Links to an external site.) table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.
To assist you in completing the research required for this assignment, view this University of Arizona Global Campus Library Quick ‘n’ Dirty (Links to an external site.) tutorial, which introduces the University of Arizona Global Campus Library and the research process, and provides some library search tips.
Must document any information used from sources in APA style as outlined in the Writing Center’s Citing Within Your Paper (Links to an external site.) guide.
Must include a separate references page that is formatted according to APA style as outlined in the Writing Center. See the Formatting Your References List (Links to an external site.) resource in the Writing Center for specifications.
Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.
