SYLLABUS – MGT 5214

COST PRINCIPLES, EFFECTIVENESS AND CONTROL

Summer Semester, May 13, 2024 – July 26, 2024

Monday evenings, 4:30pm-8:40pm

 

Instructor Name:

Amy Knight

Phone:

757-349-0907

Office Location:

N/A

Email:

knighta@fit.edu

Office Hours:

Before or after class, by appointment

 

 

 

NOTICE TO COURSE PARTICIPANTS

This course may be recorded for use by students or faculty. Enrolled students are subject to having their images and voices recorded during the classroom presentations, remote access learning, and online course discussions.  Course participants should have no expectation of privacy regarding their participation in the class. Recordings may not be reproduced, shared with those not registered in the course, or uploaded to other online environments. All recordings will be deleted at the conclusion of the academic term. 

 

Course Description: 

This course includes financial and accounting overviews of government acquisition policy and procedures. Requires completion of foundation requirements.

 

Contract pricing issues as well as cost principles, cost accounting standards, and cost/price analysis will be covered.

 

Course Text: 

Guide to Contract Pricing:  Cost and Price Analysis for Contractors, Subcontractors, and Government Agencies, 5th Edition, 2009, John Edward Murphy, CPA, CPCM.  ISBN:  978-1567262414

 

Additional Readings: 

Federal Acquisition Regulations, specifically Parts 15, 16, 30 through 33, and 42 (http://www.acquisition.gov)

 

Course Objectives: 

This course is designed to provide the student with a thorough understanding of the processes and procedures used in performing price/cost analysis.  By the end of the course, the student should be able to:

·       Study and understand federal government contracting methods and contract types.

·       Discuss the concepts of price and cost analyses of government contract offers.

·       Differentiate between direct and indirect cost elements.

·       Analyze vendor submitted bids for government contracts for services and products.

·       Prepare equitable adjustment documentation for negotiated and awarded contract actions.

·       Evaluate level of effort contract estimates for reasonableness.

·       Participate in team and group activities to analyze and evaluate cost accounting standards applicability and application.

 

 

Required Training (if applicable):

N/A

Grading Policy (including late work policy):

·      Mid-term Examination (25%)

·      Final Examination (25%)

·      Cost Accounting Standards Presentation (20%)

·      Discussion Responses (10%)

·      Class Participation/Homework (10%)

·      Reading/Lecture Quizzes (10%)

 

 

 

Grading Scale:

A = 90-100; B = 80-89; C = 70-79; D = 60-69; F = below 60

Administration: Failure to complete all course materials and requirements by the end of the term will result in a grade of “F” Failure.

 

LATE ASSIGNMENTS:  Assignments received late will be downgraded one letter grade for each week late without prior arrangement with instructor.  Missed exams must be made up within one week of the scheduled exam date and coordinated the instructor.

 

Exams:

There will be a mid-term and final exam. Both are open book/open note. The student should work independently and there should be no consultation with fellow students.

 

Recorded lectures:

When applicable, I will expect you to view each lecture, or other posted material early in the week by midnight Wednesday.

 

CAS Presentation: 

Each student will be required to select and give a short, but formal, 5-7 minute presentation to the class on a Cost Accounting Standard (maximum of 7 slides).  Please acquire instructor’s approval for topic selection.  The typical format of an introduction, body and conclusion is required, along with cover page and agenda.  The presentation will also provide some insight and practical (case references) applications of selected standard(s).

 

Attendance Policy:

Students are expected to attend every class session.  If it is necessary to miss a class, notify professor in advance via text or email. If absence is on an exam night, notification in advance is required. All make-up exams will be scheduled with the professor. 

 

1. The following conditions are Florida Tech's minimum level of effort required to qualify for an “A” grade in this class:

a. Attend and actively participate in a minimum of 8 (8) class sessions.

b. Actively participate as a team member in team project activities.

c. Complete all project homework assignments.

d. Successfully complete all quizzes that may be given.

e. Successfully complete the midterm and final exams as given.

Note: Meeting minimum requirements is not to be construed as having fulfilled an “A” grade level effort and results.

 

2. To pass this course, you need to: 

a. Attend and actively participate in a minimum of 6 (6) class sessions.

b. Achieve a minimum grade of 40% in all quizzes when given.

c. Satisfactorily participate as a team member in team project activities.

d. Satisfactorily complete exams and all homework assignments in a timely manner.

 

Where to Find Extra Help: Email or text me for additional assistance.

 

Academic Honesty Definitions & Procedures:  Located in the student handbook at

 

https://www.fit.edu/policies/student-focused-policies/standards-and-policies/academic-honesty/

 

 

 

Title IX Statement:  The university’s Title IX policy is available at https://www.fit.edu/policies/title-ix/

Title IX of the Education Amendments of 1972 is a federal civil rights law that prohibits discrimination on the basis of sex in federally funded education programs and activities.  Florida Institute of Technology policy also prohibits discrimination on the basis of sex.

Florida Tech faculty are committed to helping create a safe learning environment for all students that is free from all forms of discrimination and sexual harassment, including sexual assault, domestic violence, dating violence, and stalking. If you, or someone you know, have experienced or is experiencing any of these behaviors, know that help and support are available.

Florida Tech strongly encourages all members of the community to take action, seek support, and report any incident of sexual harassment or gender discrimination to

Dennis Kwarteng, Title IX Coordinator

Phone: 321-309-3068

e-mail: dkwarteng@fit.edu

Office: John E. Miller Office Bldg (401QAD), Room: 137

Please note that as your professor, I am required to report any incidents to the Title IX Coordinator.

If you wish to speak to an employee who does not have this reporting responsibility, please contact the Student Counseling Center at 321-674-8050.

 

Academic Accommodations:  Florida Tech is committed to equal opportunity for persons w/disabilities in the participation of activities operated/sponsored by the university. Therefore, students w/documented disabilities are entitled to reasonable educational accommodations. The Office of Accessibility Resources (OAR) supports students by assisting w/accommodations, providing recommended interventions, and engaging in case management services.  It is the student’s responsibility to make a request to OAR before any accommodations can be approved/implemented.  Also, students w/approved accommodations are encouraged to speak w/the course instructor to discuss any arrangements and/or concerns relating to their accommodations for the class.

Office of Accessibility Resources (OAR):

Phone: 321-674-8285

Email: accessibilityresources@fit.edu

Website: https://www.fit.edu/accessibility-resources

 

Recording Disclosure (Privacy Waiver): This course may be recorded for use by students and/or faculty. Enrolled students are subject to having their images and voices recorded during the classroom presentations, remote access learning, online course discussions, and remote office hours/meetings. Course participants should have no expectation of privacy regarding their participation in this class.  Recordings may not be reproduced, shared with those not registered in the courses, or uploaded to other online environments.  All recordings will be deleted at the conclusion of the academic term. 

 

Anticipated Weekly Subject Matter and Assignment Schedule:

 

The schedule below is subject to change at the instructor’s discretion.

 

Week 1

Overview of Course – Basic Pricing Policies and Concepts

Contracting Methods and Contract Types: Pricing Implications

Chapter 1
Chapter 2

Week 2

Price Analysis

Cost Principles and Cost Classifications

CAS Topic Due

Chapter 3
Chapter 4

Week 3

Holiday (Memorial Day) (NO CLASSES)

 

Week 4

Obtaining Cost or Pricing Data

 

Chapter 5

Week 5

Analysis of Direct Labor Costs

Chapter 6

Week 6

Analysis of Direct Materials and Other Direct Costs

 

Analysis of Indirect Costs

 

Chapter 7

Chapter 8

Week 7

Facilities Capital Cost of Money


Chapter 9

Week 8

Profit or Fee Determination

Chapter 10

Week 9

Pricing Equitable Adjustments for Contract Changes

Chapter 11

Week 10

Contract Pricing: The Role of Auditors
*Cost Accounting Standards Presentations

Chapter 12

Week 11

Final Exam