| SYLLABUS | | FALL, 2009 | BSAD
060Z2 | Financial Accounting | INSTRUCTOR(s):
| COURSE INFO:
| MEETS: | TR 11:30-12:45 | | LOCATION: | 110 Kalkin |  |
Pre-requisites:
Required course specific fee of $20;
CE students and permission only;
Degree students should register for BSAD 060 B.
Goals & Objectives: This course is intended to introduce you to various types of accounting information and the role this information plays in business decisions. This course emphasizes understanding accounting as the language of business with a particular emphasis on how business transactions affect financial statements which are used for decision making. As such, you should obtain an understanding of the generally accepted accounting principles for preparation of financial statements. In addition, assignments and other activities are designed to improve your analytical and communication skills. Course Content: The following objectives have been identified by the accounting area faculty as minimum competency learning objectives for all BSAD60 classes. Your understanding of these objectives will be tested on examinations and you must demonstrate an ability to perform these key learning objectives in order to receive a passing grade for the course: Understanding the Business Context Differentiate the key attributes and advantages proprietorships, partnerships and corporations Identify steps in the business operating cycle Understand the importance of the concept of internal control Apply the concept of internal control to a simple business context Understanding Financial Statements Define the purpose of accounting Identify the four basic financial statements Understand the purpose of the four basic financial statements and accompanying notes Identify the components of the balance sheet, income statement and statement of cash flows (e.g., accounts receivable appears in the balance sheet) Prepare a basic balance sheet, income statement and statement of cash flows Understand how the basic financial statements interrelate Understand the basic accounting equation Analyzing Transactions and Understanding their Impact on Financial Statements Understand the role of GAAP in financial reporting Apply principles/concepts of historical cost, fair value, revenue recognition and full disclosure Analyze and record transactions Understand the impact of transactions on financial statements Understand the purpose and impact of accruals and deferrals Analyze and prepare adjusting entries Understand the following additional concepts: Differences between capitalization and expense The concept of present value techniques The impact of present value on account valuation Cost allocation (e.g., depreciation) and impairment (write down of assets) Inventory cost flow assumptions Specific Content Areas within the Financial Statements Differentiate components of current operating income from other income statement components Understand the use and misuse of earnings per share Understand the nature of retained earnings Differentiate the book value of equity from the market value of equity Books & Materials Required Text(s):Fundamentals of Financial Accounting, Phillips, Libby, and Libby, McGraw-Hill/Irwin, 2nd ed., New York, 2008.You must also purchase Homework Manager. If you buy your textbook in the bookstore, homework manager will be bundled with the textbook. Otherwise you must purchase an access code directly from the books publisher.A basic four function calculator is required for BSAD 060 quizzes and exams. You will not be allowed to use any programmable calculator or cell phones!
Grading:
| Mid-term Exams (2 @ 100 points each) |
200 points |
| Final Exam |
100 points |
| Homework Assignments |
100 points |
| Quizzes |
50 points |
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| Total |
450 points |
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Grading Comments:
Quizzes: There will be eight quizzes throughout the semester. Only the top 5 quiz grades will count toward your overall grade. Missed quizzes cannot be made up; absence from a quiz will result in a grade of zero on the missed quiz. Graded Assignments: Graded assignments are administered through homework manager. Due dates for each homework assignment are posted in homework manager. No late assignments will be accepted and no assignments can be made up. Practice Problems: Students are encouraged to work as many problems from the textbook as possible in order to become proficient with the course material. Students can request answers to any of the textbook problems from the instructor. Upon request, the instructor will post answers to specific problems on blackboard.
Exam Comments:
Three exams will be given (two midterm exams and one comprehensive final exam). The exams will consist of multiple-choice questions and problems, and will be held only on the dates indicated on the schedule at the end of the syllabus. Absence from any scheduled exam without prior approval will result in a grade of zero on the missed exam. Prior approval is defined as a documented medical or family emergency that is communicated to the instructor by someone from the student services office. In the event a student is given approval to miss a scheduled exam period prior to the exam, the grade on the comprehensive final will be substituted for the missed midterm exam score. In addition, a higher grade on the comprehensive final exam will be substituted for a lower score on one of the midterm exams.
Attendance Policy:
Tardiness: Students are expected to be in the classroom on time. The value of your degree is based on the performance of your peers. It is very distracting to both the instructor and your classmates when there is stream of students continually entering the room after class has started. Anyone who is late to class is subject to losing 1 point on their final grade. This is a per occurrence penalty that may be assessed at the instructors discretion.
Additional Comments:
I utilize blackboard as the main communication tool for my classes. As such, you should regularly log on to blackboard to see if any messages have been posted regarding any information related to exams or assignments. I also post all grades on blackboard.
Academic Honesty
The principal objective of the policy
on academic honesty is to promote an intellectual
climate and support the academic integrity of the University of Vermont. Academic
dishonesty or an offense against academic honesty includes acts that may subvert or
compromise the integrity of the educational process. Such acts are serious offenses that
insult the integrity of the entire academic community.
Offenses against academic honesty are any acts that would have the effect of unfairly
promoting or enhancing one's academic standing within the entire community of learners
which includes, but is not limited to, the faculty and students of the University of
Vermont. Academic dishonesty includes knowingly permitting or assisting any person in
the committing of an act of academic dishonesty.
The policy distinguishes between minor and major offenses. Offenses purely technical in
nature or in which the instructor does not perceive intent to achieve advantage are
deemed minor and handled by the instructor. Major offenses are those in which intent to
achieve academic advantages is perceived. A full statement of the policy can be found in
the Cat's Tale. Each student is responsible for knowing and observing this policy.
Classroom Code of Conduct
Faculty and students will at all times conduct themselves in a manner that serves to
maintain, promote, and enhance the high quality academic environment befitting the University
of Vermont. To this end, it is expected that all members of the learning community will adhere
to the following guidelines:
- Faculty and students will attend all regularly scheduled classes, except for those
occasions warranting an excused absence under the policy detailed in the catalogue (e.g.,
religious, athletic, medical).
- Students and faculty will arrive prepared for class and on time, and they will
remain in class until the class is dismissed.
- Faculty and students will treat all members of the learning community with respect.
Toward this end, they will promote academic discourse and the free exchange of ideas by
listening with civil attention to the comments made by all individuals.
- Students and faculty will maintain an appropriate academic climate by refraining
from all actions which disrupt the learning environment (e.g., making noise, ostentatiously
not paying attention, and leaving and reentering the classroom inappropriately).
- Food and drink are not allowed in classrooms.
Instructors will inform students of any special/additional expectations.
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