Accounting 201-001, Cameron Hall 101
Principles of Financial Accounting
Spring 2013
Instructor:
Office:
Office Phone:
Home Phone:
Fax:
E-mail address:
Daniel Ivancevich
230-B, Cameron Hall
962-7681
452-0365 (between 9:00 am and 9:00 pm)
962-3663
ivancevichd@uncw.edu
Class Schedule:
ACG 201-001 MWF 8:00 – 8:50
ACG 302-001 MW 12:30 – 1:45
Office Hours:
Monday
3:00 – 500
Tuesday
10:00 – 12:00
Wednesday
3:00 – 5:00
Thursday
10:00 – 12:00
Friday
9:00 – 12:00
Or By Appointment
Required Materials:
Financial Accounting: Tools for Business Decision Making, 6th edition, Kimmel,
Weygandt and Kieso
CH 101
CH 101
Simple 4-function Calculator
Course Objective:
Accounting provides the financial information that is used by internal and external
decision makers. Therefore, accounting is known as the language of business. In ACG
201, students will gain an understanding of the basics of financial accounting, which
include insight into how financial information is analyzed, compiled, and used to
prepare the financial statements.
Learning Objectives:
See attached schedule for learning objectives covered in each session.
Student’s Responsibilities:
You are going to work hard in this class. In order to comprehend the material, it is
important that you keep pace with the material being presented in class. In order to
accomplish this task, attendance is essential. If you miss a class for any reason, you are
responsible for turning in assignments, the material presented, and any items that may
have been distributed.
Class preparation is extremely important for success in ACG 201. I expect you to read
the assigned material before class. Completion and understanding of the assigned
homework problems is essential to learning the material and performing well on the
quizzes and exams. I encourage the working of unassigned problems from the back of
the chapter in order to fully grasp the topics discussed in class. Solutions to the
assigned questions, brief exercises, exercises and problems are available on my web
site.
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Grading:
Grades will be determined by the accumulation of points from exams, quizzes and
other graded material. Points will be determined in the following fashion:
Homework/Quizzes
Exam 1
Exam 2
Exam 3
Exam 4 (Comprehensive Exam)
Total
POINTS
15%
20%
20%
20%
25%
100%
Final grades will be based on the percentage of total points earned and assigned in the
following manner:
90% - 100%
A
87% - 89.9%
B+
80% - 86.9%
B
77% - 79.9%
C+
70% - 76.9%
C
60 – 69.9%
D
< 59.9%
F
Homework: I have assigned questions, brief exercises, exercises, problems, and cases
for you to work from each chapter. The assignments can be found on the schedule at
the back of this syllabus. Homework will be randomly collected and graded. Make
sure you bring your homework to class each and every day. If you are unable to attend
class, email your homework to me before class begins. No late homework
assignments will be accepted.
Quizzes: Quizzes will be given periodically throughout the semester. These quizzes
are meant to test your understanding of topics covered in class. If you miss a quiz, you
will receive a grade of zero for that quiz. If you are unable to attend class on a day
when a quiz is due, email your quiz to me before class begins. No late quizzes will be
given or accepted.
Files on Professor’s Webpage: Students can find files related to ACG 201 on Dr.
Ivancevich’s web page. The address is www.csb.uncw.edu/people/ ivancevichd.
Exams: Exams will be comprised of the material that is presented in class. Reading
your book, reviewing your notes, and working the homework assignments and quizzes
will prepare you for the exams. The final exam will be administered according to the
university schedule.
Make-up exams: Exams after the exam date will not be given. I am willing to work
with you if you have to miss an exam. Arrangements will be made for you to take the
exam early. Students missing an exam for any reason will take a comprehensive final
exam. This comprehensive final exam score will replace the missed exam.
Business Week:
Instead of classes on March 19 & 20, 2013 students in the Cameron School of Business
will take part in Business Week activities. You are required to attend two Business
Week accounting-related sessions for this class. You will turn in attendance slips from
the sessions you attend. I will accept only original attendance sheets (i.e. not
photocopied, not handwritten).
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Harassment Issues:
UNCW practices a zero-tolerance policy for violence and harassment of any kind. For
emergencies contact UNCW CARE at 962-2273, Campus Police at 962-3184, or
Wilmington Police at 911. For University or community resources visit
http://uncw.edu/wrc/crisis.htm.
Cell Phone Use:
Sending or receiving texts or phone calls is prohibited in this class.
Resources available to students: My office hours: I am here to help you. My office hours and phone numbers are
listed on the first page of the syllabus. If the office hours listed are not convenient for
you, contact me to set up an appointment that fits both of our schedules. I am more
than happy to try and help with any problems or questions you may have.
E-mail: I find email an excellent way to communicate information with my students,
so you will be asked to provide me with your email address. If you do not have an
email address, you need to get one. As a UNCW student, you are entitled to an email
address on the campus system. Be advised that you should check your email regularly
to make sure you do not miss something I send you. You are ultimately responsible
for any correspondence sent out over email.
I have also provided you with my email address. If you have a question regarding
something we covered in class or a homework problem, you can email me. I check my
email several times each day and will provide a prompt response to your questions or
concerns.
Study Groups: I would encourage you to form a study group with other students
taking ACG 201 this semester. The group can be used to work or review homework
problems and/or review material that has been presented in class. I find it is an
excellent way for students to ensure that the material presented in class is being
understood.
Book Website: Although I have provided helpful material on my personal website,
the book website contains an Online Learning Center for your use. You can connect to
the book website at www.wiley.com/college/kimmel . Click on the textbook link…
Financial Accounting: Tools for Business Decision Making, 6th Edition
by Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso. Then click on Student
Companion Site link on the left hand side of the screen.
University Learning Center: Westside Hall, first floor; 910.962.7857;
www.uncw.ulc
The University Learning Center’s (ULC) mission is to help students become
successful, independent learners. Tutoring at the ULC is NOT remediation: the ULC
offers a different type of learning opportunity for those students who want to increase
the quality of their education. ULC services are free to all UNCW students and include
the following: Learning Services, Math Services, Study Skills, Supplemental
Instruction, and Writing Services.
The ULC’s hours are shorter at the beginning of the semester, during exams, and
during the summer (see our website for details:
http://www.uncw.edu/stuaff/uls/hours.htm), but typically the ULC is open:
Sunday
2pm – 9pm
Monday – Thursday
8am – 9pm
Friday
8am – 5pm
Students can now schedule their own appointments online through our website:
http://www.uncw.edu/stuaff/uls/onlineappointment.html
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Honor Code:
As a student at UNCW, you are pledged to uphold and support the
UNCW Student Academic Honor Code:
The University of North Carolina Wilmington is a community of high academic
standards where academic integrity is valued. UNCW students are committed to
honesty and truthfulness in academic inquiry and in the pursuit of knowledge. This
commitment begins when new students matriculate at UNCW, continues as they create
work of the highest quality while part of the university community, and endures as a
core value throughout their lives.
Guidelines in support of the Honor Code, including definitions of cheating and
plagiarism, may be found at:
http://uncw.edu/odos/honorcode/ .
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ACG 201– 001
Principles of Financial Accounting
Tentative Class Schedule
Date
W 1/9
F 1/11
Chapter/Topics
Course Introduction
Chapter 1 Introduction to Financial
Statements: Forms of business
organizations, Users and uses of financial
statements, Business Activities, Income
Statement
M 1/14
Chapter 1 Introduction to Financial
Statements: Retained Earnings Statement,
Balance Sheet, Statement of Cash Flows
Chapter 1 Introduction to Financial
Statements: Interrelationships, Annual
Report
W 1/16
F 1/18
M 1/21
W 1/23
F 1/25
M 1/28
W 1/30
F 2/1
M 2/4
W 2/6
Homework Assignments Due on the day they appear on the syllabus
Read
Questions
Brief Exercises
Exercises
Chapter 1
Chapter 2
Chapter 2 A Further Look at Financial
Statements: Classified Balance Sheet,
Ratio Analysis
Chapter 2 A Further Look at Financial
Statements: Usefulness of financial
information, Financial Reporting Concepts
Martin Luther King Holiday
Chapter 2 A Further Look at Financial
Statements: Financial Reporting Concepts
Chapter 3 Accounting Information System:
Accounting Transactions
Ch 1: 1, 2, 5, 6
Ch 1: 2, 3
Ch 1: 11, 12, 14, 17
Ch 1: 6, 7
Ch 1: 18, 20
Ch 1: 8
Ch 1: 4, 6
Ch 2: 1, 2
Chapter 3
Chapter 3 Accounting Information System:
Accounts, Recording Process
Chapter 3 Accounting Information System:
Recording Process
Chapter 3 Accounting Information System:
Chart of Accounts, Trial Balance
Review for Exam #1
Exam 1 (Chapter 1, 2, 3)
Chapter 4 Accrual Accounting Concepts:
Timing Issues, Basics of Adjusting Entries
Problems
Ch 2: 5
Ch 2: 1
Ch 2: 4, 6
Ch 2: 2A
Ch 2: 12, 13, 16,
Ch 2: 5, 7
Ch 2: 12
Ch 3: 3
Ch 3: 2
Ch 3: 3
Ch 3: 6, 9, 10
Ch 3: 4
Ch 3: 12, 15
Ch 3: 8
Ch 3: 9
Ch 3: 4A
Ch 3: 19, 20
Ch 3: 11
Ch 3: 12, 16
Ch 3: 6A
Chapter 4
5
ACG 201– 001
Principles of Financial Accounting
Tentative Class Schedule
F 2/8
M 2/11
W 2/13
F 2/15
M 2/18
W 2/20
F 2/22
M 2/25
W 2/27
F 3/1
Chapter/Topics
Chapter 4 Accrual Accounting Concepts:
Adjusting entries for Accruals, Adjusted
Trial Balance
Chapter 4 Accrual Accounting Concepts:
Preparing Financial Statements, Closing
the Books
Chapter 5 Merchandising Operations and
the Multiple-Step Income Statement:
Perpetual vs. Periodic Inventory Systems
Chapter 5 Merchandising Operations and
the Multiple-Step Income Statement:
Single Step Income Statement, MultipleStep Income Statement
Chapter 5 Merchandising Operations and
the Multiple-Step Income Statement:
Multiple Step Income Statements, Ratios
Chapter 6 Reporting and Analyzing
Inventory: Classifying Inventory,
Determining Quantity
Chapter 6 Reporting and Analyzing
Inventory: Inventory Costing
Read
Chapter 5
Ch 4: 7, 15
Ch 4: 3
Ch 4: 10
Ch 4: 20, 25
Ch 4: 10, 12, 13
Ch 4: 14
Ch 5: 11
Ch 5: 2
Ch 5: 1, 3
Ch 5: 6
Ch 5: 7, 9
Ch 5: 7
Ch 5: 11
Ch 5: 9
Chapter 6
Ch 6: 2, 6
Chapter 6 Reporting and Analyzing
Inventory: Effects of Inventory Costing of
Financial Statements and Taxes, LCM,
Ratios
Review for Exam #2
Last Day to Withdrawal
Exam #2 (Chapters 4, 5, 6)
Chapter 7 Fraud, Internal Control, and
Cash: Fraud and Internal Control
Homework Assignments Due the Class Period After They Are
Assigned
Questions
Brief Exercises
Exercises
Ch 4: 2, 6
Ch 4: 5
Problems
Ch 4: 3A
Ch 5: 2A
Ch 6: 3
Ch 6: 11
Ch 6: 2, 3
Ch 6: 4
Ch 6: 15
Ch 6: 5, 8
Ch 6: 9, 10
Ch 6: 3A
Chapter 7
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ACG 201– 001
Principles of Financial Accounting
Tentative Class Schedule
Date
M 3/4
W 3/6
F 3/8
Chapter/Topics
SPRING BREAK – Have fun. Be safe.
SPRING BREAK – Have fun. Be safe.
SPRING BREAK – Have fun. Be safe.
M 3/11
Chapter 7 Fraud, Internal Control, and
Cash: Cash Controls, Use a Bank
Chapter 7 Fraud, Internal Control, and
Cash: Petty Cash, Electronic Funds
Transfer
W 3/13
Homework Assignments Due the Class Period After They Are Assigned
Questions
Brief Exercises
F 3/15
Chapter 8: Reporting and Analyzing
Receivables: Types of Receivables,
Accounts Receivable
M 3/18
Chapter 8: Reporting and Analyzing
Receivables: Accounts Receivable
Business Week (Attend two accountingrelated sessions)
Chapter 8 Reporting and Analyzing
Receivables: Notes Receivable, Financial
Statement Presentation, Managing
Receivables
W 3/20
F 3/22
M 3/25
W 3/27
F 3/29
M 4/1
Chapter 9 Reporting and Analyzing LongTerm Assets Plant Assets, Revenue
Expenditures, Capital Expenditures
Chapter 9 Reporting and Analyzing LongTerm Assets Depreciation, Straight Line
Depreciation, Declining Balance, Units of
Activity, Partial Period Depreciation
Easter Break Holiday
Chapter 9 Reporting and Analyzing LongTerm Assets Ordinary Repairs, Additions
and improvements, Disposing of Assets,
Ratios
Chapter 8
Chapter 9
Exercises
Ch 7: 2, 3, 5, 7
Ch 7: 1
Ch 7: 9, 10, 15, 18
Ch 7: 4, 7
Ch 7: 3, 6
Ch 7: 21, 23
Ch 7: 13
Ch 7: 11
Ch 8:1
Ch 8: 1
Ch 8: 4, 7
Ch 8: 3, 5
Ch 8: 4, 5
Ch 8: 21
Ch 8: 6, 9
Ch 8: 7, 9, 11, 15
Ch 9: 1
Ch 9: 1, 2
Ch 9: 2
Ch 9: 6, 7, 8
Ch 9: 3
Ch 9: 5
Problems
Ch 8: 3A
Review for Exam #3 (Chapters 7, 8, 9)
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ACG 201– 001
Principles of Financial Accounting
Tentative Class Schedule
Date
W 4/3
Chapter/Topics
Exam #3 (Chapters 7, 8, 9)
F 4/5
Chapter 10 Reporting and Analyzing
Liabilities Current Liabilities, Bonds
M 4/8
Chapter 10 Reporting and Analyzing
Liabilities Bonds, Presentation
Chapter 10 Reporting and Analyzing
Liabilities Ratios
W 4/10
F 4/12
M 4/15
W 4/17
F 4/19
M 4/22
W 4/24
F 4/26
Homework Assignments Due the Class Period After They Are Assigned
Questions
Brief Exercises
Exercises
Ch 9: 10, 11, 14, 16,
Ch 9: 8, 10
Ch 9: 8
19, 20
Chapter 10
Chapter 11
Chapter 11 Reporting and Analyzing
Stockholder’s Equity Corporations, Stock
Chapter 11 Reporting and Analyzing
Stockholders’ Equity: Stock, Treasury
Stock
Chapter 11 Reporting and Analyzing
Stockholders’ Equity: Preferred Stock,
Dividends, Retained Earnings
Chapter 11 Reporting and Analyzing
Stockholders’ Equity: Financial Statement
Presentation, Measuring Corporate
Performance
Chapter 12 Statement of Cash Flows
Usefulness, Classification of Cash Flows,
Formatting
Chapter 12 Statement of Cash Flows
Preparing SCF Indirect Method
Chapter 12 Statement of Cash Flows
Ratios
Chapter 13 Financial Analysis Comparative
Analysis, Horizontal Analysis
Chapter 13 Financial Analysis Vertical
Analysis, Ratio Analysis
Ch 10: 5, 7
Ch 10: 1, 3
Ch 10: 8, 10, 12
Ch 10: 7, 9
Problems
Ch 10: 2, 5, 6
Ch 10: 11
Ch 11: 1, 4
Chapter 12
Chapter 13
Ch 11: 6
Ch 11: 2
Ch 11: 1
Ch 11: 9, 11, 15
Ch 11: 5, 7
Ch 11: 13, 17, 19
Ch 11: 10
Ch 11: 8
Ch 12: 3
Ch 12: 1
Ch 12: 2
Ch 12: 7, 12, 15, 16
Ch 12: 6
Ch 12: 5, 6
Ch 11: 6A
Ch 12: 5A
Chapter 13
Appendix A
(708-719)
Ch 12: 10
Ch 13: 8
Ch 13: 4
Ch 13: 3
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ACG 201– 001
Principles of Financial Accounting
Tentative Class Schedule
Date
FRI 5/3
Chapter/Topics
Final Exam (Comprehensive)
Homework Assignments Due the Class Period After They Are Assigned
Questions
Brief Exercises
Exercises
Ch 13: 10, 12
Ch 13: 6, 10, 12
Ch 13: 5, 9
Problems
7:00 – 10:00 pm
Exam Schedule:
Exam 1
Mon, 2/4
Exam 2
Wed, 2/27
Exam 3
Wed, 4/3
Final Exam
Fri, 5/3
Chapters 1, 2, 3
Chapters 4, 5, 6
Chapters 7, 8, 9
Comprehensive
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ACG 201
Financial Ratios
Tests of Profitability:
Return on Common Equity
Earnings per share
Gross Profit rate
Profit Margin Ratio
Net Income –Preferred Dividends
Average Common Stockholders’ Equity
Net Income – Preferred Dividends
Average number of shares of common stock outstanding
Gross Profit
Net Sales
Net Income
Net Sales Revenue
Profitability/Market Tests:
Price/Earnings Ratio
Stock Price per Share
Earnings per Share
Tests of Liquidity:
Current Ratio
Days in Inventory
Receivables Turnover ratio
Inventory Turnover ratio
Current Assets
Current Liabilities
365 days
Inventory Turnover Ratio
Net Credit Sales
Average Gross Receivables
Cost of Goods Sold
Average Inventory
Tests of Solvency:
Times Interest Earned
(Instructor optional)
Debt to Total Assets
Equity to Total Assets
Net Income + Interest Expense + Income Tax Expense
Interest Expense
Total Liabilities
Total Assets
Total Equity
Total Assets
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