1. 1 Karen Grossman Tabak ABAC 2210 phone 529-9678 Office Hours Tuesday & Thursday 8:15-9:15 & 12:15-2:15 (but PLEASE schedule an appointment if you can 529-9418) tabak@maryville.eduabak@maryville.edu cpaecon@aol.compaecon@aol.com accweb.itr.maryville.edu/tabak

2. 2 We will be using a seating chart Please decide where you want to sit & sit there next class There are advantages & disadvantages to the seats.

3. 3 Rules of the Room H Respect Equipment H Respect each other H Remember you are here to learn H Don’t rely on equipment H Backup! Backup! And Backup again!

4. 4 Rules for this Class Come to class (preferably, on time!!!) Do your homework - before class! ALWAYS CHECK THE FRONT TABLE FOR HANDOUTS!!!! Act like you are here to learn. (EVEN ON DAYS YOU ARE NOT IN THE MOOD - PRETEND IF YOU MUST.) Relax about exams Don’t make fun of my inability to spell. Don’t make fun of my inability to add without a calculator. Do not play games nor search the internet during class

5. 5 RULES ON HOMEWORK Do the HOMEWORK DO NOT PLAGIARIZE MY WORK I WILL COLLECT HOMEWORK OCCASIONALLY SAVE! SAVE! SAVE! AND THEN SAVE AGAIN DO NOT PLAGIARIZE MY WORK SUCCESS IN THIS CLASS IS LIKE BAKING A CAKE – IF YOU FOLLOW THE RECIPE, IT WILL COME OUT OK!

6. 6 Supplies H Need the right ingredients H Disks – bring one to class (name) H Notebook to keep your homework in H Backup! Backup! And Backup again! H Will need a nice notebook for portfolio

7. 7 Syllabus One test is dropped Participation and attendance are critical. Help is available in the Academic Learning Center. Use it! LET’S LOOK AT THE ASSIGNMENTS SHEET LET’S SIGN THE ACKNOWLEDGEMENT FORM

8. 8 Computer Requirements You must know how to use excel Let’s try to do a few things: Let’s build a worksheet

9. 9 Learn the Lingo Chapter 1 & 2 are primarily terminology We will come back to Chapter 1 We will have fun in this class You do not need to memorize anything

10. 10 The role of Managers DECISION MAKING PLANNING DIRECTING OPERATIONS CONTROLLING ALL WITHIN A PRINCIPAL AGENT MODEL

11. 11 Managerial Accounting Enhances Decision Making Guides Strategy and Development Evaluates existing Strategies Focuses efforts related to – improving organizational performance – evaluating the contributions of organizational units & members

12. 12 Cost Object The thing we want to know the cost of. Can be a product LIKE CHOCOLATE, a service, a department, even this class.

13. 13 Cost object can be many things Could be this course - this session Could be this course - Managerial Accounting Could be the accounting classes in general Could be the business school as a whole

14. 14 You must know what the cost object is!!!! Changing the cost object changes the nature of the cost analysis!

15. 15 Nature of Cost Fixed Cost Variable Cost Direct Cost Indirect Cost/COMMON COSTS NON-VALUE ADDED COSTS Controllable cost Uncontrollable Cost

16. 16 Manufacturing Cost Classifications Direct Materials Direct Labor Manufacturing Overhead indirect materials indirect labor other manufacturing cost

17. 17 Economic Characteristics of Cost Opportunity cost sunk cost incremental cost average cost marginal cost

18. 18 Video This company makes a mazak Use a lot of terms WIP CAD AGV Count the Direct Labor Folks Speak with a British Accent

19. 19 Thought for the Day There is no comparison between that which is lost by not trying, and that which is lost by not succeeding. Sir Francis Bacon