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Credit Value: 5
Prerequisite Course: ACC140
ACC235-2008SEP-2013AUG Page 1
ACC235 Management Accounting I Canadore College of Applied Arts and Technology
3.4 Prepare the following from an adjusted 6. Allocate revenue and expenses to
trial balance for a manufacturing responsibility centres for performance
company: measurement and evaluation.
a. Schedule of Cost of Goods 6.1 Define responsibility accounting and
Manufactured. describe the process.
b. Income Statement. 6.2 Distinguish among cost centres, profit
c. Balance Sheet. centres, and investment centres.
3.5 Account for under-and over-applied fixed 6.3 Distinguish between direct and indirect
and variable overhead. expenses.
6.4 List criteria for evaluation of
4. Describe the general process and purpose management performance.
of budgeting and prepare basic static and 6.5 Evaluate the return on investment for
flexible budgets. investment centres.
4.1 Define and describe the general purpose 6.6 Describe transfer prices under various
of budgeting. conditions.
4.2 Describe the components of the
budgeting process: 7. Prepare break-even charts and describe
a. Planning. the advantages and limitations of "cost
b. Communicating. volume profit (CVP) analysis."
c. Coordinating. 7.1 Describe the uses of CVP analysis in
d. Feedback. decision making.
4.3 Describe the concept of zero-based 7.2 Apply CVP analysis to single and multiple
budgeting and its advantages and products using equation and contribution
disadvantages. margin techniques.
4.4 Prepare the basic types of budgets: 7.3 Compute operating leverage.
a. Sales. 7.4 Prepare a break-even chart.
b. Production. 7.5 Apply CVP analysis to specific
c. Purchasing. management problems such as sales
d. Manufacturing. price or costs.
e. Selling and administrative expenses. 7.6 Describe the assumptions when using
f. Cash. CVP analysis.
g. Income Statement.
h. Balance Sheet. 8. Prepare the required accounting records
to maintain a Job Order and Process
5. Describe and show the advantages and Costing system.
disadvantages of actual and standard cost 8.1 List and describe the differences and
systems. similarities of Job-Order costing and
5.1 Describe the advantages of flexible Process Costing.
budgets over static budgets. 8.2 Describe the flow of materials, labour,
5.2 Prepare a flexible budget and and overhead costs in a Job-Order and
performance report. Process Costing system.
5.3 Illustrate the differences between actual 8.3 Prepare the necessary journal entries for
and standard cost systems. the operation of a Job-Order costing
5.4 Describe the major methods of setting system.
standard costs. 8.4 Describe the process and challenges of
5.5 Analyze variances for: allocating costs in a Process Costing
a. Direct material. environment.
b. Direct labour.
c. Variable and fixed overhead. 9. Describe Activity-Based Costing (ABC)
and determine the requirements for
designing such a system for a
manufacturing organization.
9.1 Demonstrate how plant-wide and
departmental overhead rates are set.
9.2 List and describe the benefits and
limitations of Activity-Based Costing.
9.3 Describe the hierarchical classification of
activities inherent with ABC systems.
ACC235-2008SEP-2013AUG Page 2
ACC235 Management Accounting I Canadore College of Applied Arts and Technology
Evaluation Strategy
Grading System
A+ Honours 90-100%
A+ 85-89% B+ 75-79% C+ 65-69% D+ 55-59% R Repeat U Unsatisfactory
A 80-84% B 70-74% C 60-64% D 50-54% S Successful I Incomplete
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ACC235-2008SEP-2013AUG Page 3