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ACCT6065 Course SyllabusSpring2021132021

This course syllabus outlines an introductory financial accounting course for graduate business students. The course will introduce students to basic accounting fundamentals and financial statements, including the income statement, balance sheet, statement of retained earnings, and cash flow statement. Students will learn how accountants organize and report business transactions to external users. Key topics covered include the accounting equation, accrual accounting, internal controls, inventory valuation, long-lived assets, liabilities, and financial statement analysis. Student assessment will consist of discussion board participation, online homework, and two exams.

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Michael Pirone
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103 views

ACCT6065 Course SyllabusSpring2021132021

This course syllabus outlines an introductory financial accounting course for graduate business students. The course will introduce students to basic accounting fundamentals and financial statements, including the income statement, balance sheet, statement of retained earnings, and cash flow statement. Students will learn how accountants organize and report business transactions to external users. Key topics covered include the accounting equation, accrual accounting, internal controls, inventory valuation, long-lived assets, liabilities, and financial statement analysis. Student assessment will consist of discussion board participation, online homework, and two exams.

Uploaded by

Michael Pirone
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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WILLIAM PATERSON UNIVERSITY

COTSAKOS COLLEGE OF BUSINESS


DEPARTMENT OF ACCOUNTING AND LAW
COURSE SYLLABUS

1. COURSE NUMBER AND TITLE: ACCT6065 Financial Accounting for Decision


Makers
COURSE DESCRIPTION:
2. This course provides students with an introduction to basic accounting fundamentals and
skills necessary to analyze financial information of firms from a decision maker
perspective. Financial information is presented in the form of financial statements,
principally, the income statement, balance sheet, statement of retained earnings, and cash
flow statement. We will discuss how accountants organize the results of business
transactions and report them to external users who will then use the reports to make
decisions.

3. COURSE PREREQUISITES: None. Course open to all MBA students


4. Spring 2021
5. Prof. Sia Nassiripour,
Office Hours: M T: 6:00PM-7:00PM via Blackboard Collaborate Ultra
Office phone no. 973-720-2241
Email: [email protected] Email is my preferred contact method. I usually respond
within 24-48 hours.
6. Department phone no.: 973720-2435, Email: [email protected]

7. Textbook: Survey of Accounting, 1st edition, Kimmel and Weygandt, Wiley. You need to
purchase the textbook through Blackboard. Once you login to your course in Blackboard
on the Control Panel you will see a link “How to register and use WileyPLUS through
Blackboard” click on that link.

8. COURSE OBJECTIVES:
Since students in this course will become managers, financiers, and marketers rather than
accountants, the objective of the course is the intelligent interpretation and use of financial
statements and related disclosures:
1. To show what role accounting plays in providing financial information
2. To take a closer look at the financial statements and introduce some useful ways for
evaluating the information provided by the financial statements.
3. To explain and illustrate the features of an accounting information system.
4. To be introduced to the accrual accounting concepts.
5. To explain the essential features of an internal control system and how it prevents fraud and
how these controls apply to cash.
6. To learn the basics about reporting merchandising transactions and how to prepare a
multiple-step income statement.
7. To explain the methods used to calculate the cost of inventory on hand at the balance sheet

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date and cost of goods sold.
8. To discuss some of the decisions related to reporting and analyzing receivables.
9. To learn how to report and analyze long-lived assets
10. To learn fundamental issues related to debt and equity financing.
11. To learn how to use the decision tools presented in this course to analyze a single company,
with comparisons to a competitor and industry averages.
9. N/A

10. STUDENT LEARNING OUTCOMES:


1. Identify the forms of business organization and the uses of accounting information.
2. Explain the three types of business activity.
3. Describe the four financial statements and how they are prepared.
4. Identify the sections of a classified balance sheet.
5. Use ratios to evaluate a company balance sheet.
6. Discuss financial reporting concepts.
7. Analyze the effect of business transactions on the basic accounting equation.
8. Explain the accrual basis of accounting and the reasons for adjustments.
9. Prepare adjustments for deferrals.
10. Prepare adjustments for accruals.
11. Prepare financial statements from adjusted amounts.
12. Define fraud and principles of internal control.
13. Apply internal control principles to cash.
14. Identify the control features of a bank account.
15. Explain the reporting of cash and the basic principles of cash management.
16. Describe inventory systems and record purchases under a perpetual inventory system.
17. Record sales under a perpetual inventory system.
18. Prepare a multiple-step income statement.
19. Compute and analyze gross profit rate and profit margin.
20. Discuss how to classify and determine inventory.
21. Apply inventory cost flow methods and discuss their financial effects.
22. Explain how companies recognize and value receivables.
23. Explain the statement presentation and analysis of inventory.
24. Explain the accounting for plant asset expenditures.
25. Apply depreciation methods to plant assets.
26. Explain how to account for the disposal of plant assets.
27. Identify the basic issues related to reporting intangible assets.
28. Discuss how long-lived assets are reported and analyzed.
29. Explain how to account for current liabilities.
30. Explain how to account for bonds.
31. Explain how to account for the issuance of equity securities, and the purchase of treasury stock.
32. Explain how to account for cash dividends.
33. Discuss how stockholders’ equity is reported and analyzed.
34. Apply the concepts of sustainable income and quality of earnings.
35. Apply horizontal analyses and vertical analysis.
36. Analyze a company’s performance using ratio analysis.

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11. TOPICAL OUTLINE OF THE COURSE CONTENT:
1. Introduction to Financial Statements.
2. A Further Look at the Balance Sheet.
3. The Accounting Information System.
4. Accrual Accounting Concepts.
5. Fraud, Internal Control, and Cash.
6. Merchandising Operations and the Multiple-Step Income Statement.
7. Reporting and Analyzing Inventory and Receivables.
8. Reporting and Analyzing Long-Lived Assets.
9. Reporting and Analyzing Liabilities and Stockholders’ Equity.
10. Financial Analysis: The Big Picture

12. GUIDELINES/SUGGESTIONS FOR TEACHING METHODS AND STUDENT


LEARNING ACTIVITIES:
Explanatory lectures prepare students to complete assignments that are reviewed in class. This
course involves a substantial study commitment from students. Reading assignments are to be
completed prior to the class in which the material is introduced. Problem assignments must be
completed (or worked as far as possible on a "best efforts" basis) prior to the class period during
which they are to be reviewed. Participation in class discussion and problem-solving exercises is
expected.
Being successful at accounting requires lots of practice, so spending time on the assigned
homework is essential in understanding of the material. Homework problems have been chosen to
reinforce the learning objectives presented in each area.

13. COURSE ACTIVITIES: N/A

14. COURSE EXPECTATIONS:


Modules Chapter Assignments
Module 1 1. Introduction to BE1-3, E1-1, 3, 10, 11, 15
Financial Statements P1-3

2. A Further Look at E2-1, 2, 5, 8, 11


Financial Statements P2-3, 5

Module 2 3. The Accounting DO IT 3-1


Information System E3-6
P3-7

4. Accrual Accounting
Concepts E4-2, 3, 11, 13
P4-3

Module 3 5. Fraud, Internal E5-2, 3, 6, 12


Control, and Cash CT5-7

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Midterm Exam
(Chapters 1-4)
Module 4 6. Recording and E6-3, 7, 10, 13(only a & b)
Analyzing P6-2
Merchandising
Transactions,
Receivables, and
Inventory

Module 5 7. Reporting and E7-2, 3, 4, 7, 9, 11


Analyzing Long-Lived P7-1, 7
Assets

Module 6 8. Reporting and E8-1, 6, 8, 9, 13, 15, 21


Analyzing Liabilities P8-4
and Stockholders’
Equity

Module 7 9. Financial Analysis: DO IT 9-3, BE9-2


The Big Picture E9-4, 5, 13
P9-2

Final Exam (chapters 5-9)

Discussion Board Questions:


No. 1 Which financial statement is the most important one? Explain.
No. 2 Which accounts are closed at the end of each fiscal year and why?
No. 3 Why there is a need for effective internal control? Explain.
No. 4 Why there is a need to estimate uncollectible account receivable?
No. 5 Why certain long-lived assets are depreciated (amortized)?
No. 6 List the major weakness of reporting the long-term bonds payable on the
balance sheet in subsequent years after their initial issuance.
No. 7 List at least one major weakness of using financial ratios to evaluate a firm’s
performance for a given period.

15. GUIDLENIS/SUGGESTIONS FOR METHODS OF STUDENT ASSESSMENT:


Discussion board participation 10%
WileyPLUS Homework 30%
Exams (1&2) 60%
Total Grade 100%

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16. GUIDELINES FOR COMMUNICATION AND GRADING:
The best way to communicate with me is via email. I will respond to your emails within 48
hours. I have also set up weekly office hour via Blackboard Collaborate Ultra every Monday
and Tuesday from 6:00 PM to 7:00 PM so we can communicate more efficiently. I grade
discussion board participation a day after the end of each week (module) and you can see your
grade in Blackboard. Your WileyPLUS homework is assessed at the latest by the due date and
you can see your score in Blackboard. You will have two exams. The first exam covers the
first two modules, which cover the first four chapters in the textbook. The second exam covers
the remaining modules (3-7), which cover chapters 5-9 in the textbook. Your exams are graded
within five days after the due date.

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