Spring 2015

Update 5/4/15:
Take home portion of Final posted. Sorry for the delay... called out of town.

Reminder:
NO CLASS ON TUESDAY 5/12
                    TTR 4:30 - 5:45pm; BBC 220                    

COURSE DESCRIPTION:
This course is required of all business students because we believe that the quality of important business decisions made by you over the course of your careers can be improved through an understanding of financial accounting. The purpose of this course is to introduce students to fundamental financial accounting concepts required for making business decisions. In particular, we seek to introduce students to the concepts and principles underlying the content of external financial statements and to provide an overview of the use of internal accounting information to make sound business decisions.

In addition, the ethical aspects of financial and managerial accounting applications will also be discussed during the course of the session.

COURSE MATERIAL:
Required (WKK): Financial Accounting, Weygandt, Kimmel, Kieso, 9th Edition (ISBN-13: 978-1-118-33432-4)
              

HOMEWORK ASSIGNMENT:
Before you come to each class, read the material as outlined in the syllabus. Homework problems are to be completed before each class. Students will be expected to present solutions to selected homework assignments in class. While homework will not be routinely collected, it is absolutely necessary that you do your homework. Each chapter uses concepts and techniques learned in previous chapters. If you wish to understand the material better, you cannot afford to ignore the homework.

EXAMINATIONS:
There will be five (5) examinations, three mid-terms (some in class over multiple days and some take-home) and  a two-part comprehensive final examination. There will also be two Critical Thinking written papers. On each examination, an adjustment to each student’s raw score will be given based upon the average score of the top 10% of the class. We will also have 4-5 quizzes (25 points each).  I will drop your lowest quiz score.

CLASS SESSION:
In class, we stress analysis and application of the concepts that you are expected to learn on your own. While we follow the general flow of the textbooks, we do not simply repeat the text. We emphasize important points, add new information, review homework problems and apply the concepts to real-world situations. Ample opportunities will be given to you in class for asking questions and answering questions raised by others. I expect each of you to be prepared for class.

GRADING AND GRADE CATEGORIES:
Grading will be based on the following scores:                      

			The following grading distribution will be approximated:
Exams (5): 100 points each	500	A range 40%	90%-100%
Critical Thinking Papers	200	B range 40%	80%-89%
Quizzes	100	C range 15%	70%-79%
Class Participation	50	D range 5%	60%-69%
Total Points	850	F	Below 60%

 

CRITICAL THINKING PAPERS:

1. Each student will comment on the interaction of ethics and financial accounting in 2014.  Provide an answer to this question with appropriate examples: "Is it possible to co-exist in today's business environment given the dilemma between ethics and financial reporting?" Due: 3/3. (100 points)
2. Each student will assess the need for financial reporting changes resulting from the Perfect Storm of Accounting.  What are the elements of the Perfect Storm?  Are the resulting changes necessary?  How will these changes affect you and your business career? Due: 5/5. (100 points)

Any violation of academic integrity in any of the exams or assignments (including unauthorized use of internet resources or illegal copying of reading materials) will lead to a course grade of "F".

 

COURSE OUTLINE AND ASSIGNMENTS:
H/W assignments will be added as we progress

 

COURSE NOTES:
Initial notes are available for your review. More notes will be added as the semester progresses.

IMPORTANT MESSAGES:

• Welcome back!  Please note that our first class starts at 4:30pm on 1/22. Come PREPARED to discuss the material in WKK 1.
• DOWNLOAD THE NOTES FOR OUR FIRST CLASS!!!!!!!