Accounting 220 – Fall Semester 2005



Syllabus

Accounting 220 Fall 2006

Introduction to Financial Accounting

Norris (Rashe) Dorsey, Ed.D. (CPA, CMA candidate)

 

General information

Office – BB 4212 – Phone (818) 677-4892 – E-mail: norris.dorsey@csun.edu

Office hours –posted on webpage and by appointment only.

 

Required Text Kimmel, Weygandt & Kieso; Financial Accounting, Tools for Business Decision Making, 4th Ed.; John Wiley & Sons, 2007, (ISBN 0471-73051-3)

 

Website: Norris Dorsey home page csun.edu/~nrd36607

 

Website: Wiley Plus



 All information referred to in the syllabus is available on the web page. Note that a variety of materials required for this course must be downloaded from my web page and Wiley plus. Additionally, information, homework and online quizzes are located on the web pages above.

NOTE: you must log on e-grade with the registration card that came with the text.

User name: CSUN email address

Password: CSUN email password

 

Course Description

Introduce role of accounting in business and society. Provide a student with a summary of the accounting process. Introduce measurement issues and demonstrate analyzing and recording financial transactions. The student will study valuation and allocation issues, the conceptual foundation for financial reporting and the use of financial statements. You are to develop a model for creating financial statements in accord with GAAP; using financial statements for analysis, for interpretation of the information contained and for decision making. The financial statements created must be objective and fairly represent the true financial position of the organization. Your study, learning, conclusions drawn and decisions taken should result from critical reasoning about the questions/issues before you.

 

Course Objective

1. To introduce you to the theory of accounting, provide real word experience, and accounting’s place in the business environment.

2. To equip you with the skills needed to use accounting information.

Specific course learning goals:

1. Understand the Income Statement

2. Understand the Balance Sheet

3. Understand the Statement of Cash Flow

4. Understand the difference between cash and accrual accounting

5. Understand the following measurement concepts and when they are used under GAAP

6. Understand present value concepts in an accounting context

7. Understand and be able to apply the revenue recognition criteria

8. Understand and be able to apply the expense recognition criteria

Assignments

Assigned readings, exercises, and problems are to be completed prior to each class session. Lecture and discussion will focus on the book and assignments. Regular class attendance, timely completion of assigned work, and quality participation are expected. You should be knowledgeable about the material prior to class and use class time to work toward comprehensive understanding of the assigned material. Selected assignments may be part of your course grade.

Group Assignment

Each student will be assigned to a group for shared facilitation presentation assignment. The team will present to the class a topic assigned by the professor. The details of this assignment will be posted on the website and Wiley plus under group assignment.

 

Policy on Missed Exams:

No makeup examinations are permitted. If an exam is to be missed, the instructor must be notified in advance. The instructor will document the reason for missing the exam, and if appropriate, may permit the score on a future exam to be substituted for the missed exam. If proper advance notification does not occur, a zero "0" grade will be assigned to the exam. A missed exam may result in a grade of "F" in the course. Under normal conditions, unauthorized withdrawal (U) grades will not be used! Makeup exams will not be accepted.

*If Arrangements were made with me prior to the date of the missed exam, than written corroborating evidence must be presented, i.e. a medical certificate, court papers, accident report etc.

*Homework is posted online and is due each week on time.

*Participation is based on class attendance. Seats will be assigned. If you are in class you will be active.

 

*Quizzes are in class and online.

*Exams are in class and multiple choice and problems

|GRADING |POINTS |BREAKDOWN |

|Special Assignments |25 |90-100% - A |

|Quiz 1 |25 |80- 89 % - B |

|Quiz 2 |25 |70- 79% - C |

|Quiz 3 |25 |60- 69% - D |

|Participation |35 |59% - F |

|Homework |65 |  |

|Midterm |100 | |

|Final |100 | |

|Total Possible Points |400 |  |

 

No Curve

 

Course Outline

Fall Schedule

|DATE |DAY |WEEK |SUBJECT |READ |NOTES & OTHER |

|  |  | | | | |

|5-Sep |Tuesday |1 |Introductions / Adminstrative work / |CH 1 |  |

|7-Sep |Thursday |  |Financial Statements: An Introduction |  |  |

|12-Sep |Tuesday |2 |Financial Statements: Further Look |CH 2 |Video |

|14-Sep |Thursday |  |Accounting Information System |  |  |

|19-Sep |Tuesday |3 |Accounting Information System |CH 3 |  |

|21-Sep |Thursday |  |Accrual Accounting Concepts |CH 4 | QUIZ 1 Chapters 1-3 |

|26-Sep |Tuesday |4 |Guest Lecturer |  |Monoply |

|28-Sep |Thursday |  |Guest Lecturer |  |Research paper |

|3-Oct |Tuesday |5 |Accrual Accounting Concepts |CH 4 |  |

|5-Oct |Thursday |  |Guest Lecturer |  |  |

|10-Oct |Tuesday |6 |Merchandising & The Income Statement |CH 5 |Video |

|12-Oct |Thursday |  |Inventory: Reporting &Analyzing |CH 6 |  |

|17-Oct |Tuesday |7 |Inventory: Reporting &Analyzing |  |  |

|19-Oct |Thursday |  |Cash & Internal Controls |CH 7 |  |

|24-Oct |Tuesday |8 |Guest Lecturer |  |  |

|26-Oct |Thursday |  |Receivables: Reporting & Analyzing |CH 8 |  |

|31-Oct |Tuesday |9 |Halloween |  |MIDTERM Chapters 1-8 |

|2-Nov |Thursday |  |Long-Lived Assets: Reporting & Analyzing |CH 9 |  |

|7-Nov |Tuesday |10 |Long-Lived Assets: Reporting & Analyzing |  |  |

|9-Nov |Thursday |  |Liabilities: Reporting &Analyzing |CH 10 |Video |

|14-Nov |Tuesday |11 |Liabilities: Reporting &Analyzing |  |  |

|16-Nov |Thursday |  |Liabilities: Reporting &Analyzing |  |  |

|21-Nov |Tuesday |12 |Stockholder Equity: Reporting & Analyzing |CH 11 |  |

|23-Nov |Thursday |  |Thanksgiving Holiday |  |  |

|28-Nov |Tuesday |13 |Stockholder Equity: Reporting & Analyzing |  |QUIZ 2 Chapters 9-11 |

|30-Nov |Thursday |  |Statement of Cash Flows |CH 12 |  |

|5-Dec |Tuesday |14 |Statement of Cash Flows |  |Video |

|7-Dec |Thursday |  |Performance Measurement |  |  |

|12-Dec |Tuesday |15 |Performance Measurement |CH 13 |QUIZ 3 Chapters 12&13 |

|14-Dec |Thursday |  |  |  |  |

|19-Dec |Tuesday |16 |Review |  | |

|21-Dec |Thursday |17 |Final |  |Comprehensive Final |

   Homework Assignments

| WEEK | SUBJECT |HW QUESTIONS DUE |

| 1 | Financial Statements: An Introduction |BRIEF EXERCISES 1-6 |

|2 | Financial Statements: Further Look |EXERCISES 1-6 |

|3 |Accounting Information System |BRIEF EXERCISES 1-6 |

| 4 |Accrual Accounting Concepts |EXERCISES 1-6 |

|5 | Merchandising & The Income Statement |BRIEF EXERCISES 1-6 |

|6 | Inventory: Reporting &Analyzing |EXERCISES 1-6 |

|7 | Cash & Internal Controls |BRIEF EXERCISES 1-6 |

|8 | Receivables: Reporting & Analyzing |EXERCISES 1-6 |

|9 | Long-Lived Assets: Reporting & Analyzing | |

|10 | Liabilities: Reporting &Analyzing |BRIEF EXERCISES 1-6 |

|11 | Stockholder Equity: Reporting & Analyzing |EXERCISES 1-6 |

| 12 | Statement of Cash Flows |BRIEF EXERCISES 1-6 |

|13 | Statement of Cash Flows Continued |EXERCISES 1-6 |

|14 | Performance Measurement |BRIEF EXERCISES 1-6 |

|15 | Synthesis & Review |EXERCISES 1-6 |

|16 | | |

|17 | |Final |

 

***Subject to change without notice per professor choice.

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