Accountancy I – Summer 2013
Department of Accountancy
University of Notre Dame
I.
II.
Instructor Contact Information
Instructor:
Christopher R. Wray, CPA
Instructor's Office Location:
To Be Announced.
Instructor's Office Hours:
To Be Announced.
Instructor's Phone #:
(816) 813-7306 [Cell]
Instructor's E-mail Address:
cwray@nd.edu
Registration at Course Website:
You must register at the course website at www.acct20100.com. The answer to the security question is: ryan
III.
IV.
Required Course Materials
Text:
Financial Accounting by Libby, Libby and Short, Seventh Edition, (McGraw-Hill), 2011.
This textbook comes in a loose-leaf version and a hardback version.
E-Reserves:
Link to course articles will be provided at the ACCT 20100 website
(www.acct20100.com) to the BIC online resources. Articles to read will be announced in
class.
Calculator:
You may not use any programmable calculator for an exam. Only non-programmable
calculators will be allowed. Cell phones and iPods will not be allowed.
Course Goals and Objectives
The overall goal for the two-semester Accountancy sequence is to develop the ability of students to use accounting
information in various economic decision-making contexts, as well as to understand the scope of services provided
by accounting professionals.
Upon completion of Accountancy I and II, students will understand:
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Business entities and the activities they undertake:
Readings provide broad exposure to the forces acting on businesses; the assignments and the use of
cases will require the student to simulate business activities.
Accounting as a broad information discipline:
The information perspective of accounting is emphasized throughout the sequence. Most major
functional areas of accounting are covered.
The decision-usefulness of accounting information:
The primary objective of accounting is to provide useful information for decision-making.
Accounting information usefulness is examined for operating, investing, and financing decisions.
The nature of contractual relations among business parties as a means for determining accounting
information requirements:
Accounting information is frequently used to ensure that parties are keeping their business
promises.
The integrity required of accountants:
The ethical components of contract performance and the accountant=s role in contract
enforcement will be considered in cases and assignments. Accountants must not only be ethical, but often
must attest that others are as well.
Upon the completion of Accountancy I, the student will be expected to understand:
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How to record transactions that measure a business= economic activity.
How to process and summarize transactions into financial statements that communicate the results of an
entity’s activities to its users.
How to prepare and interpret the four basic financial statements:
Statement of Financial Position (Balance Sheet)
Statement of Operations (Income Statement)
Statement of Stockholders’ Equity
Cash Flow Statement
In the process of learning to use accounting information in decision-making, students will:
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V.
Improve oral and written communication skills through daily participation and assignments that require
analysis and written feedback.
Improve group interaction and team-building skills by completing the assigned group projects.
Enhance critical thinking skills in the learning process by actively participating in group and classroom
activities.
Apply major concepts, ideas and tools to problem solving situations.
Grading
Students’ grades will be determined based on the total points earned on the following items:
Group Assignments (2)
Instructor Points
Excel Assignments (7)
Assessment Pre-test
Midterm Exam 1
Midterm Exam 2
Final Examination
Total:
50 pts.
75 pts.
35 pts.
5 pts.
125 pts.
125 pts.
150 pts.
565 pts.
The course instructors collaborate to assure consistency in grading across sections. However, each instructor will
determine the grades for his or her sections. Note the Mendoza College of Business requires that each instructor’s
combined sections have an average GPA of 3.1-3.2. Final grades will be set to achieve this required GPA.
VI.
Course Organization & Administration
Attendance & Participation: The course is organized around four 80-minute sessions per week. The instructors
expect active student involvement in the learning process. Regular attendance and class participation are included in
the final grade at the discretion of each instructor. In addition to attendance and participation, individual instructors
will announce the activities they will use to determine the awarding of instructor points for their sections.
Cellular Devices: Cellular phones must be set to “off” or “silent” during examinations and class.
Text messaging during class is not permitted. Laptops are not to be used during class.
These devices must not be used as calculators or clocks and must be stowed out of sight during examinations.
Group Assignments: Groups of students will be organized by the instructor early in the semester. Projects will be
distributed in class; due dates are listed in the Syllabus. Each group is to work independently of all other course
groups.
Late Work: Work submitted to the instructor after the day and time indicated by the instructor without official
Notre Dame Approval will be assigned a penalty by the instructor.
Peer Evaluations: The instructors will announce their policy regarding peer evaluations of group work.
Excel Assignments: Seven Excel assignments have been assigned throughout the semester. Assignments MUST
be completed in Microsoft Excel, NOT ANY OTHER SPREADSHEET PROGRAM. Excel assignments and
related templates can be downloaded from the ACCT 20100 website (www.acct20100.com). Each template is
individualized with an ID code for each student. It will be assumed a violation of the Honor Code if you use a
template with some else’s ID code. All Excel assignments are self-grading. Your instructor will provide you with
details of how they wish to collect these assignments. You must follow your instructor’s instructions to receive
credit. Failure to follow the instructions on each assignment will result in a zero grade for the assignment.
Exams: Common exams will be given. The instructors evaluate their sections’ exams. It is course policy that
students must document sufficient official Notre Dame Approval before taking an exam at an alternative time for
full credit. If a student arrives late to an exam and is unable to finish by the exam’s conclusion, the student may be
allowed additional time at the instructor’s discretion. Work completed after the exam’s conclusion will be assessed
a 20% penalty. If a student misses an entire exam without the aforementioned approval, the instructor will use his or
her discretion to decide whether or not to give the exam at a later time on the exam date. In this case, there will be
an automatic penalty of 20% of total exam points.
Assessment Pre-test:
You will be required to take an on-line assessment during the first week of class. To receive the 5 points, you must
complete both the pre-test by the due date listed on the course calendar.
VII.
The Academic Code of Honor:
“As a member of the Notre Dame community,
I will not participate in or tolerate academic dishonesty”.
Expectations with regard to Academic Integrity follow:
Students will not give or receive aid on exams. This includes, but is not limited to, viewing the exams of others,
sharing answers with others, using books or notes while taking the exam, and use of cell phones or programmable
calculators in unauthorized usage. It also includes discussing the exam in order to help those who are taking it later.
For case assignments involving groups, groups must work completely independently of other individuals, or
groups. Each member of a group has an obligation to ensure that the workload is shared by all members for each
assignment. Students are expected to avoid plagiarism, including the use of material from previous semesters.
See http://www.nd.edu/~writing/resources/AvoidingPlagarism.html for rules on appropriate citations. Notre
Dame’s Writing Center is an excellent resource for researching and structuring written assignments.
The honor code requires that a student, with knowledge of the above violations, report such occurrences. If a
perceived honor code violation occurs, the procedures outlined in the Student Guide to the Academic Codes
of Honor, www.nd.edu/~hnrcode, will be followed.
VII.
Instructor Points
Attendance and Class Presence (30 Points): Attendance will be taken daily by using a class roster that students will
sign. This is a typical protocol in professional meetings that you will attend in your future business career. Students
are allowed two “no fault” absences without penalty; after two absences, the points awarded will be reduced, unless
further excused absences are granted by the instructor or the college of business. Individual ideas and views on
concepts and problems only enhance the learning environment, and accordingly, class participation is encouraged.
Class participation is not limited to time in the classroom.
Video Response Paper (5 Points): Later in the semester, we will watch the firm The Smartest Guys in the Room,
which documents the collapse of Enron. It will be shown in class, but you are free to watch it at home. (The DVD
is on reserve at the library, or you can view it on Amazon Instant Video for $2.99.) You will write two short
responses to the documentary of approximately 250 words each. You must answer Question 1, and you may pick
one of Question 2, Question 3, or Question 4.
1.
2.
3.
4.
How did the earnings reported under Enron’s purported “mark to market” approach compare to the
company’s cash flows? Was the company’s application of their purported “mark to market”
method consistent with the matching principle? What other accounting rules did you observe that
Enron had violated?
How did Jeff Skilling and Andy Fastow justify their actions? What aspects of Enron’s corporate
culture and Wall Street’s culture contributed to the collapse of Enron?
Ken Lay professed his innocence until his death in 2006, maintaining that the collapse of Enron
was a conspiracy of rogue executives, short sellers, and the news media. He was quick to point
out that over 90% of his personal wealth was wrapped up in the company, giving him little
incentive to risk a sudden collapse. Do you believe him? Why or why not?
An organization of Enron’s size had dozens of accounting staff, if not hundreds. Moreover, the
Arthur Anderson audit team surely consisted of dozens of individuals. Very few individuals
affiliated with Enron or Arthur Anderson have admitted to knowing about the fraud (and only
three people ultimately lost their CPA license). Do you think the fraud was widely known, or do
you think this was limited to a few key individuals? If you think the knowledge was widespread,
why did so many people keep quiet? If you think the knowledge was limited to only a few
persons, do you think other accounting and auditing staff were “willfully blind,” meaning they
should have known about the fraud?
Quizzes (40 Points): Five 10-point unannounced quizzes will be given at times during the semester. The highest four
scores will count toward the final grade. Missed quizzes will count as a zero.
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To the extent possible, the instructors will follow the daily class schedule of assignments.
The schedule may be altered (add, delete, change timing, etc.) in order to enhance student learning
opportunity or for other reasons.
ACCOUNTING 20100
STUDENT INFORMATION SHEET
QUESTION
NAME (last, first)
CAMPUS ADDRESS AND PHONE
HOME CITY and STATE or COUNTRY
STUDENT CLASSIFICATION (1st year, 2nd, etc.)
ARE YOU A TRANSFER STUDENT? Where From?
PLANNED MAJOR
COURSE SCHEDULE
EMPLOYMENT, (if any) AND HOURS PER WEEK
OTHER CAMPUS ACTIVITIES, (if any) AND HOURS PER
WEEK
DO YOU KNOW HOW TO USE EXCEL? IF SO, WHAT IS
YOUR SKILL LEVEL? (BEGINNER, INTERMEDIATE, OR
ADVANCED)
YOUR FAVORITE THING ABOUT NOTRE DAME
RESPONSE