N/A. Yes. Students are expected to review and understand all areas of the course outline.

Transcription

1 Course Outline School: Department: Course Title: Business Business Management Managerial Accounting for HRM Course Code: HRMT 317 Course Hours/Credits: 5 Prerequisites: ACCT 112, BFPE 212 Co-requisites: Eligible for Prior Learning, Assessment and Recognition: Originated by: N/A Yes Sheldon Shiewitz, Alan Dryden Creation Date: Winter 2015 Revision Date: Winter 2015 Current Semester: Summer 2015 Approved by: Chairperson/Dean Students are expected to review and understand all areas of the course outline. Retain this course outline for future transfer credit applications. A fee may be charged for additional copies. This course outline is available in alternative formats upon request.

2 Course Description Accounting and finance, the language of business, the financial information system of the organization, serves to summarize organizational plans and the results of actual operations. Because these are so pervasive in the organization, it is necessary for Human Resources managers to understand the measurement bases and the underlying methodologies used. Many of the decisions faced by the HR manager have an accounting or financial aspect. This may require detailed knowledge of the concepts and procedures. This would be the case, for example, where the HR manager is required to prepare an operating budget for his/ her area of responsibility. Alternatively, it may require a familiarity, without necessarily requiring the ability to perform the calculations, as such. This would be the case where the HR manager is required to interpret, or react, to, standard costing variances in respect to their area of responsibility, or the effect of their decisions on the overall results of the organization. Program Outcomes Successful completion of this and other courses in the program culminates in the achievement of the Vocational Learning Outcomes (program outcomes) set by the Ministry of Training, Colleges and Universities in the Program Standard. The VLOs express the learning a student must reliably demonstrate before graduation. To ensure a meaningful learning experience and to better understand how this course and program prepare graduates for success, students are encouraged to review the Program Standard by visiting For apprenticeship-based programs, visit Course Learning Outcomes The student will reliably demonstrate the ability to: Demonstrate an understanding of the nature of financial accounting, management accounting and finance, how they relate to the rest of the organization. Demonstrate an understanding of the conceptual foundations of financial accounting, management accounting and finance, and familiarity with the principal reports they produce with particular emphasis on reports likely to be used by HR managers. Demonstrate the ability to execute detailed calculations (with particular emphasis on applications in the human resources area) in the following areas: The interpretation of the income statement, the balance sheet and the statement of cash flows; - The calculation and interpretation of financial ratios; - The calculation and interpretation of contribution margin and break-even analysis - The preparation of operating budgets; - The calculation of net present value, payback and return on assets for investment proposals. Differentiate between capital and operating budgets and prepare operating budgets including the application of Activity Based Costing, transfer pricing and allocation of service department costs. Develop appropriate measures of corporate performance for use in the Balanced Scorecard. Essential Employability Skills (EES) The student will reliably demonstrate the ability to*: 1. Communicate clearly, concisely and correctly in the written, spoken, and visual form that fulfills the purpose and meets the needs of the audience. THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 2

3 2. Respond to written, spoken, or visual messages in a manner that ensures effective communication. 3. Execute mathematical operations accurately. 4. Apply a systematic approach to solve problems. 5. Use a variety of thinking skills to anticipate and solve problems. 7. Analyze, evaluate, and apply relevant information from a variety of sources. 8. Show respect for diverse opinions, values belief systems, and contributions of others. 10. Manage the use of time and other resources to complete projects. 11. Take responsibility for one's own actions, decisions, and consequences. *There are 11 Essential Employability Skills outcomes as per the Ministry Program Standard. Of these 11 outcomes, the following will be assessed in this course. Global Citizenship and Equity (GC&E) Outcomes N/A Text and other Instructional/Learning Materials Text Book(s): Horngren, C. T., Gary L. Sundem, William O. Stratton, Philip Beaulieu. Management Accounting, Sixth Canadian Edition [2012] etext: ISBN , ISBN Print: ISBN X, ISBN Evaluation Scheme Chapter 1: Financial Statements: Quiz or assignment in class. Statement Analysis: Quiz or assignment inclass Chapter 2: assignment Term Test: Course content for first five weeks. Chapter 11: assignment Budget: Quiz or assignment in class Cost Behaviour: Quiz or assignment in class Chapter 4: assignment Capital Budgeting: Quiz or assignment in class Chapter 8 and 0: assignment Final Term test: Comprehensive THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 3

4 Evaluation Name CLO(s) EES GCE Outcome(s) Outcome(s) Weight/100 Chapter 1 1 1, 2, 3, 4,, 10 Financial Statements 1, 2, 3 1, 2, 3 Statement Analysis 1, 2, 3, 5 1, 2, 3, 4 Chapter 2 1, 2, 3, 4 1, 2, 3, 4, Term Test 1, 2, 3, 4, 5 1, 2, 3, 4 15 Chapter 11 1, 2, 4 1, 2, 3, 4, 5 Budget 1, 2, 3, 4 1, 2, 3, 4, 5, 8 Cost Behaviour 1, 2, 3 1, 2, 3, 4, Chapter 4 1, 2, 3, 4 1, 2, 3, 4, Capital Budgeting 1, 2, 3, 4 1, 2, 3, 4, Chapter 8 and 0 1, 2, 3, 4, 5 1, 2, 3, 4, Final Term test 1, 2, 3, 4, 5 1, 2, 3, 4, 25 5, 11 Total 100% If students are unable to write a test they should immediately contact their professor or program Chair for advice. In exceptional and well documented circumstances (e.g. unforeseen family problems, serious illness, or death of a close family member), students may be able to write a make-up test. All submitted work may be reviewed for authenticity and originality utilizing Turnitin. Students who do not wish to have their work submitted to Turnitin must, by the end of the second week of class, communicate this in writing to the instructor and make mutually agreeable alternate arrangements. When writing tests, students must be able to produce official College photo identification or they may be refused the right to take the test or test results will be void. Student Accommodation It is College Policy to provide accommodation based on grounds defined in the Ontario Human Rights Code. Accommodation may include modifications to standard practices. Students with disabilities who require academic accommodations must register with the Centre for Students with Disabilities. Students requiring accommodation based on other human rights grounds should talk with their professors as early as possible. Please see the Student Accommodation Policy. Use of Dictionaries Any dictionary (hard copy or electronic) may be used in regular class work. Dictionary use is not permitted in test or examination settings. Program or School Policies THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 4

5 N/A Course Policies Managerial Accounting for Human Resources Management is a mandatory course for professional designations which mandate certain elements, such as content, testing protocols, and required grade achievement by students. HRPA and other professional bodies require students to attain a minimum grade of 5% or 70%. HRPA Standards requires at least 50 percent of the final grade to be based on an assessment of individual learner attainment of the learning outcomes (rather than group work). Students are urged to check with any professional body from whom they wish to receive a professional designation about further requirements. College Policies Students should familiarize themselves with all College Policies that cover academic matters and student conduct. All students and employees have the right to study and work in an environment that is free from discrimination and harassment and promotes respect and equity. Centennial policies ensure all incidents of harassment, discrimination, bullying and violence will be addressed and responded to accordingly. Academic honesty is integral to the learning process and a necessary ingredient of academic integrity. Academic dishonesty includes cheating, plagiarism, and impersonation. All of these occur when the work of others is presented by a student as their own and/or without citing sources of information. Breaches of academic honesty may result in a failing grade on the assignment/course, suspension or expulsion from the college. For more information on these and other policies, please visit Students enrolled in a joint or collaborative program are subject to the partner institution's academic policies. PLAR Process This course is eligible for Prior Learning Assessment and Recognition (PLAR). PLAR is a process by which course credit may be granted for past learning acquired through work or other life experiences. The PLAR process involves completing an assessment (portfolio, test, assignment, etc.) that reliably demonstrates achievement of the course learning outcomes. Contact the academic school to obtain information on the PLAR process and the required assessment. This course outline and its associated weekly topical(s) may not be reproduced, in whole or in part, without the prior permission of Centennial College. THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 5

6 Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name 1 Introduction Chapter 1 Describe the purpose and objectives of financial and management accounting Describe the main concepts, techniques and conventions of financial accounting 2 The main financial accounting reports 3 Analyzing financial Statements 4 Introduction to basic cost accounting concepts 5 Introduction to the Budgetary Process The Master Budget Provided by instructor Provided by instructor Chapter 2 Chapter 11 Describe the principle elements of financial statements: Explain the interrelationships Analyze the main financial accounting reports: The balance sheet The income statement The cash flow statement The statement of retained earnings Analyze common business transactions to determine their effects on the principal elements of financial statements. Analyze performance via financial statements using: Liquidity ratios Profitability ratios Stability ratios Growth ratios Cash flow analysis Explain the following cost accounting concepts: Fixed costs Variable costs Cost volume relationships (The purpose of this section is to introduce basic cost accounting concepts so that students are able to discuss the role of costs in budgets and contribution margin) Case study and Review Explain the following: The features and advantages of budgets Operating and Financial budgets The preparation of Cash budgets exercises Chapter 1 In class assignment or exercise In class assignment or exercise Chapter 11 Evaluation Date Due Due week THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar)

7 Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name Evaluation Date Mid Term Test All material to date - all material to date Mid Term Test Week 7 Budgets and Budgetary Control Chapter 11, 12 Due week 8 Demonstrate understanding of the following: Static vs. flexible budgets Cost variances (materials, labour, overhead) Revenue variances The use of variances in decision making Management control systems Motivation and control Non-financial performance measures The balanced scorecard Cost centers and profit centers Transfer pricing Measuring responsibility center performance 8 HR Applications - to be provided Develop budgets and controls for specific HR activities 9 Cost behaviour and cost-volume relationships Chapter 2 Chapter 3 Describe the typical management decision making process Explain the role of accurate and relevant cost information in management decision making Explain the following: Cost drivers Variable costs Fixed Costs Cost Estimation Contribution Margin Break-even Point Cost-Volume-Profit (CVP) Analyzing changes Sensitivity analysis Limitations of CVP Activity based accounting 10 Cost systems Chapter 4 Explain [demonstrate applicability of] the following: Classification of costs Activity based costing Cost management systems Value added costs Chapter 11 In class assignment or quiz Chapter 2 and 3 Chapter 4 Due week10 Due week 11 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 7

8 Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name Just-in-time (JIT) systems Product costing The balance sheet The income statement Absorption costing Variable costing Cost allocation Service department costs Introduction to using Chapter 8 cost information in Chapter 9 decision making 13 Cost Information and Decision Making: Human Resources Cost Information and Decision Making: Collective Bargaining Cost Information and Decision Making: Capital Budgeting and Resource Allocation Provided by Instructor Chapter 10 Distinguish between relevant and irrelevant information for decision making purposes Discuss the importance of relevance in cost information relative to cost accuracy Describe the relationships among the main elements of the decision making process Describe how to use cost information to: Decide whether to accept or reject a special sales order Determine costs and appropriate pricing Make make or buy decisions Conduct cost-benefit analysis Describe the main features of Human Resources accounting Describe how to use cost information to: Evaluate HR strategies, functions and programs Assess restructuring decisions, the use of contingent works and outsourcing Evaluate outsourcing of HR functions Determine the effectiveness of Human Resources Management Systems Evaluate E-Training Initiatives Describe how to use cost information to: Determine the cost of collective bargaining proposals, including direct and roll-up costs Describe the purpose of the capital budgeting process Identify the main approaches to capital budgeting and summarize their relative advantages and disadvantages Describe how capital budgeting can be used to make decisions about investments in Chapter 8 and 9 Evaluation Date Due week 13 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 8

9 Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name Evaluation Date Human Resources Infrastructure such as HRM Systems and E-Training 14 Final Test All material covered and part of the course Final Test Week 14 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 9