Course Outline - Centennial College · Course Outline Chairperson/Dean ... • Liquidity ratios • Profitability ratios ... assignment or exercise 5 Introduction to the

Course Outline

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.

School: Business

Department: Business Management

Course Title: Managerial Accounting for HRM

Course Code: HRMT 317

Course Hours/Credits: 56

Prerequisites: ACCT 112, BFPE 212

Co-requisites: N/A

Eligible for Prior Learning,Assessment and Recognition:

Yes

Originated by: Sheldon Shiewitz, Alan Dryden

Creation Date: Winter 2015

Revision Date: Winter 2015

Current Semester: Summer 2015

Approved by:

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Course DescriptionAccounting 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 OutcomesSuccessful 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 http://www.tcu.gov.on.ca/pepg/audiences/colleges/progstan/. For apprenticeship-based programs,

visit http://www.collegeoftrades.ca/training-standards.

Course Learning OutcomesThe 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 thepurpose and meets the needs of the audience.

HRMT 317 CENTENNIAL COLLEGE Managerial Accounting for HRM

THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 2

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Global Citizenship and Equity (GC&E) Outcomes

Text and other Instructional/Learning MaterialsText Book(s):

Horngren, C. T. , Gary L. Sundem, William O. Stratton, Philip Beaulieu. Management Accounting, Sixth

Canadian Edition [2012] eText: ISBN-10 0131381946, ISBN-13 9780131381940

Print: ISBN-10 0-13-257084-X, ISBN-13 978-0-13-257084-8

Evaluation SchemeChapter 1: MyAccountingLab

Financial Statements: Quiz or assignment in class.

Statement Analysis: Quiz or assignment inclass

Chapter 2: MyAccountingLab assignment

Term Test: Course content for first five weeks.


Budget: Quiz or assignment in class

Cost Behaviour: Quiz or assignment in class


Capital Budgeting: Quiz or assignment in class

Chapter 8 and 0: MyAccountingLab assignment

Final Term test: Comprehensive

2. Respond to written, spoken, or visual messages in a manner that ensures effectivecommunication.

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 beassessed in this course.

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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 AccommodationIt 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 DictionariesAny 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

Evaluation Name CLO(s) EESOutcome(s)

GCEOutcome(s)

Weight/100

Chapter 1 1 1, 2, 3, 4,5, 7, 10

6

Financial Statements 1, 2, 3 1, 2, 3 6Statement Analysis 1, 2, 3, 5 1, 2, 3, 4 6Chapter 2 1, 2, 3, 4 1, 2, 3, 4,

5, 76

Term Test 1, 2, 3, 4, 5 1, 2, 3, 4 15Chapter 11 1, 2, 4 1, 2, 3, 4, 5 6Budget 1, 2, 3, 4 1, 2, 3, 4,

5, 86

Cost Behaviour 1, 2, 3 1, 2, 3, 4,5, 7

6

Chapter 4 1, 2, 3, 4 1, 2, 3, 4,5, 7

6

Capital Budgeting 1, 2, 3, 4 1, 2, 3, 4,5, 7

6

Chapter 8 and 0 1, 2, 3, 4, 5 1, 2, 3, 4,5, 7

6

Final Term test 1, 2, 3, 4, 5 1, 2, 3, 4,5, 11

25

Total 100%



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Course PoliciesManagerial 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 65% 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 PoliciesStudents 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 www.centennialcollege.ca/about-

centennial/college-overview/college-policies.

Students enrolled in a joint or collaborative program are subject to the partner institution's academic

policies.

PLAR ProcessThis 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.



Topical Outline (subject to change):

Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies EvaluationName

EvaluationDate

1 Introduction Chapter 1 •Describe the purpose and objectives offinancial and management accounting•Describe the main concepts, techniques andconventions of financial accounting

Lecture, classdiscussion, film,overheads, problems,case analysis,simulation/ experientialexercises.

2 The main financialaccounting reports

Provided by instructor •Describe the principle elements of financialstatements:•Explain the interrelationships•Analyze the main financial accountingreports:•The balance sheet•The income statement•The cash flow statement•The statement of retained earnings•Analyze common business transactions todetermine their effects on the principalelements of financial statements.


Chapter 1MyAccountingLab

Due

3 Analyzing financialStatements

Provided by instructor •Analyze performance via financialstatements using:•Liquidity ratios•Profitability ratios•Stability ratios•Growth ratios•Cash flow analysis

Lecture, classdiscussion, film,overheads, problems,case analysis,simulation/ experientialexercises

In classassignment orexercise

4 Introduction to basiccost accountingconcepts

Chapter 2 •Explain the following cost accountingconcepts:•Fixed costs•Variable costs•Cost volume relationships(The purpose of this section is to introducebasic cost accounting concepts so thatstudents are able to discuss the role of costsin budgets and contribution margin)


In classassignment orexercise

5 Introduction to theBudgetary Process

The Master Budget

Chapter 11 •Case study and Review•Explain the following:•The features and advantages of budgets•Operating and Financial budgets•The preparation of Cash budgets



Due week6




EvaluationDate

exercises.6 Mid Term Test All material to date - all material to date Mid Term Test Week 67 Budgets and

Budgetary ControlChapter 11, 12 •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



Due week8

8 HR Applications - to be provided •Develop budgets and controls for specific HRactivities


In classassignment orquiz

9 Cost behaviour andcost-volumerelationships

Chapter 2Chapter 3

•Describe the typical management decisionmaking process•Explain the role of accurate and relevant costinformation 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


Chapter 2 and3MyAccountingLab

Dueweek10

10 Cost systems Chapter 4 •Explain [demonstrate applicability of] thefollowing:•Classification of costs•Activity based costing•Cost management systems•Value added costs



Due week11




EvaluationDate

•Just-in-time (JIT) systems•Product costing•The balance sheet•The income statement•Absorption costing•Variable costing•Cost allocation•Service department costs

11-12 Introduction to usingcost information indecision making

Chapter 8Chapter 9

•Distinguish between relevant and irrelevantinformation for decision making purposes•Discuss the importance of relevance in costinformation relative to cost accuracy•Describe the relationships among the mainelements of the decision making process•Describe how to use cost information to:•Decide whether to accept or reject a specialsales order•Determine costs and appropriate pricing•Make “make or buy” decisions•Conduct cost-benefit analysis


Chapter 8 and9MyAccountingLab

Due week13

13 Cost Information andDecision Making:Human Resources

Cost Information andDecision Making:Collective Bargaining

Cost Information andDecision Making:Capital Budgeting andResource Allocation

Provided by InstructorChapter 10

•Describe the main features of HumanResources accounting•Describe how to use cost information to:•Evaluate HR strategies, functions andprograms•Assess restructuring decisions, the use ofcontingent works and outsourcing•Evaluate outsourcing of HR functions•Determine the effectiveness of HumanResources Management Systems•Evaluate E-Training Initiatives

•Describe how to use cost information to:•Determine the cost of collective bargainingproposals, including direct and roll-up costs

•Describe the purpose of the capitalbudgeting process•Identify the main approaches to capitalbudgeting and summarize their relativeadvantages and disadvantages•Describe how capital budgeting can be usedto make decisions about investments in





EvaluationDate

Human Resources Infrastructure such asHRM Systems and E-Training

14 Final Test All material coveredand part of the course

Final Test Week 14



Documents

Course Outline - Centennial College · Course Outline Chairperson/Dean ... • Liquidity ratios • Profitability ratios ... assignment or exercise 5 Introduction to the