Course Syllabus
Course Prefix/Number: GEB 5872
Course Title: Understanding Financial Statements
Course Credit Hours: 1.5
Instructor Name and Contact Information: Dr. Greg Yost; gyost@uwf.edu;
850.474.2736, UWF main campus building 76, room 204
Prerequisites or Co-Requisites: None
Course Description: Understanding Financial Statements introduces
participants to the accounting process of analyzing, measuring, and reporting
business activity. The course begins by exploring the precise language,
assumptions, concepts, principles, and logic patterns inherent in the analysis and
measurement of business activity, Next, this course describes the form and
content of major financial statements. After the participant has independently
explored these topics, the rest of the course will be devoted to introducing the
reporting process used by accounting systems and to a thorough examination of
basic financial reporting issues associated with each of five business activity
cycles.
Goal: Upon completion of the course, students will acquire the foundational
proficiencies required to understand financial statements through a thorough
comprehension of the identification, analysis, measurement, and reporting of
business activity.
About this Course: This course is delivered completely online. You must have
consistent access to the Internet.
Learning at a distance may be a very different environment for many of you. You
will generally set your own schedules, participate in class activities at your
convenience, and work at your own pace. You may spend some additional time
online during the first few weeks while you become acclimated to the online class
format and you may feel overwhelmed. You should also be prepared to spend at
least 5 - 7 hours per week online completing lessons, activities, and participating
in class discussions. Finally, you may want to incorporate these tips to help you
get started:
• Set yourself a schedule -- check the course web site early in the class
week to see what tasks you'll need to work on for the week.
• Become very familiar with the site and how to use it. It is a tool to help you
learn!
•
•
Team up with your classmates to discuss class assignments and
questions you might have. Check the “Classlist” link ? for biography info
and email addresses.
Ask questions when you need answers. If you have problems, contact
your instructor ASAP!
Topics:
1. Introduction to Accounting as an Information System
2. Business Activity – Actions, Reactions and Earnings Result
3. The Cycles of Business Activity
4. Financial Statements
5. The Financing Cycle – Effect on Financial Statements
6. The Capital Investing Cycle - Effect on Financial Statements
7. The Operating Cycle - Effect on Financial Statements
8. An Experience in Building Financial Statements
Student Learning Outcomes:
1) Recognize accounting as an information system (Topic 1)
• Define business activity
• Define financial reporting
• Distinguish between assets, liabilities, equity, revenue and expense
• Recognize the basic accounting equation
Explain the nature of accounting information (Topic 1)
• Define the role and fundamental concepts that underlie accounting
• Describe the users of accounting information
• List the four major financial statements
• Discuss the limitations of accounting information
Differentiate between the forms (organizational structures) and functions of
business
activity (Topic 1)
• Describe the four different legal forms (organizational structures) of a
business
• Discuss the tax implications of each form
• Describe the impact financial information has on the business functions of
economics, finance, management and marketing
2) Identify the effects and results of business activity (Topic 2)
• Summarize the premise that all business activity is characterized by
exchanges consisting of an action and reaction
• Describe how business exchanges result in increases or decreases in
assets, liabilities and/or equity
• Identify when a change in equity results in a revenue or expense
• Describe how business actions and reactions focus on the issues of
classification, timing and valuation
3) Describe the five basic cycles of business activity (Topic 3)
• Discuss the business activities that take place within a business cycle
• Describe how business cycles are interrelated
4) Differentiate between the purpose and content of the balance sheet, income
statement and statement of cash flow (Topic 4)
• Describe how the five business activities impact a business’ financial
position
• Describe the balance sheet as a tool for making economic decisions and
solving problems
Discuss the Income Statement as a profitability model (Topic 4)
• Describe how the five business activities impact a business’ profitability
• Describe the income statement as a tool for making economic decisions
and solving problems
Discuss the Cash Flow statement as a liquidity model (Topic 4)
• Describe how the five business activities impact a business’ liquidity
• Describe how profitability differs from liquidity
• Describe the importance of Cash Flow analysis as a tool for making
economic decisions and solving problems
5) Identify the financial statement effects of financing activity (Topic 5)
• Describe the effects of acquiring capital
• Describe the effects of servicing debt
• Describe the effects of distributing capital
6) Identify the financial statement effects of capital investing activity (Topic 6)
• Differentiate among the various types of capital
• Differentiate between the two types of capital assets
• Describe the effects of acquiring capital assets
• Describe the effects of the passage of time on capital assets
• Describe the effects of disposing of capital assets
7) Identify the financial statement effects of operating activity (Topic 7)
• Identify the three activity cycles comprising operating activity
• Describe the effects of acquiring and/or using current assets
• Describe the effects of employing human resources
• Describe the effects of generating and collecting earnings
8) Demonstrate the ability to identify business activity and its effects on financial
statements (Topic 8)
• Analyze business activity and identify the effect on assets, liabilities,
equity, revenue and/or expense
• Apply business activity effects/results to the appropriate financial
statements
Texts:
Required text: The course text (Accounting for Business Activity: Its
Meaning and Implications ) is embedded in the online materials available
in the weekly sessions. Therefore, there is no text to purchase.
Recommended texts: None
Required Materials: You must have consistent access to:
The course Elearning site via the Internet
Your Student Email Account
Grading / Evaluation: Testing and weekly participation activities demonstrate
student proficiency and expertise in the topics listed above. Students will
complete activities related to the student learning outcomes.
Midterm Exam –
30%
Multiple choice questions covering topics 1-4.
Final Exam –
50%
Open ended questions on your ability to analyze transactions and identify
specific effects on each financial statement.
Class Participation 20%
Submission of session assignments. Submissions are evaluated on correctness
and completeness. Each assignment is worth approximately three percent of
your final grade. Partial credit is not awarded for assignments. Late submissions
will not be accepted.
Special Technology Utilized by Students: This course is totally online. All
instructional content and interaction takes place over the WWW. In addition to
baseline word processing skills and sending/receiving email with attachments,
students will be expected to search the internet and upload / download files. In
addition, students may need one or more of the following plug-ins:
•
•
•
•
•
•
Adobe Acrobat Reader: http://www.adobe.com/products/acrobat/readstep2.html
PowerPoint Viewer: http://microsoft.com/downloads/details.aspx?FamilyId=D1649C22B51F-4910-93FC-4CF2832D3342&displaylang=en
Windows Media Player: http://www.microsoft.com/windows/windowsmedia/download/
Quicktime Player: http://www.apple.com/quicktime/download/
Real Player:
http://forms.real.com/netzip/getrde601.html?h=207.188.7.150&f=windows/RealOnePlayer
V2GOLD.exe&p=RealOne+Player&oem=dl&tagtype=ie&type=dl
Macromedia Flash Player:
http://macromedia.com/shockwave/download/download.cgi?P1_Prod_Version=Shockwa
veFlash
Expectations for Academic Conduct/Plagiarism Policy:
Academic Conduct Policy: (Web Format) | (PDF Format) | (RTF Format)
Plagiarism Policy: (Word Format) | (PDF Format) | (RTF Format)
Student Handbook: (PDF Format)
ASSISTANCE:
Students with special needs who require specific examination-related or other
course-related accommodations should contact Disabled Student Services
(DSS), dss@uwf.edu, (850) 474-2387. DSS will provide the student with a letter
for the instructor that will specify any recommended accommodations.
Course Schedule and Assignments
Dates
1/6 –
1/12
1/13 –
1/19
1/20 –
1/26
1/29 –
1/30
1/27 –
2/2
Session Title
Session 1 - Introduction to
Accounting as an Information
System
Requirements
1.
2.
Read Chapters 1,
2, 3
Session 2 - Business Activity –
Actions, Reactions and Earnings
Result, then
Read Chapters 4
and 5
Session 3 - Business Activity –
The Cycles of Business Activity
Session 4 - Financial Statements
Midterm Examination
Assignments
Read Chapters 6,
7, 8
Chapters 1-8
Session 5 - The Financing Cycle
Read Chapter 10
– Effect on Financial Statements
3.
4.
Complete Bio Info
Participate in the What Did Dr. Yost
Really Mean? Discussion
Complete Study Guide
Complete Participation Activity 1
1.
2.
Complete Study Guide
Complete Participation Activity 2,
then
3.
4.
5.
Complete Study Guide
Participate in Ice Cube Discussion
Complete Ice Cube Questions,
Post in Discussion
1.
2.
3.
Complete Study Guide
Complete Participation Activity 4
Complete Questions for
Discussion, Post in Dropbox
Complete 40 Question Multiple Choice Exam
Available January 29 through January 30 ;
DUE NO LATER THAN 9pm CST
January 30
1.
2.
3.
Complete Study Guide
Participate in Questions Discussion
Complete Questions for
Discussion, Post in Discussion
2/3 –
2/9
Session 6 - The Capital Investing
Cycle - Effect on Financial
Read Chapter 11
Statements
2/10 –
2/16
Session 7 - The Operating
Cycles - Effect on Financial
Statements
2/17 –
2/18
2/19 –
2/20
Read Chapters
12, 13, 14
Session 8 - An Experience in
Building Financial Statements
Final Examination
1.
2.
Complete Study Guide
Complete Questions for
Discussion, Post in Dropbox
1.
2.
Complete Study Guide
Complete Questions for
Discussion, Post in Dropbox
Complete 10 Question Practice Final Exam
Chapters 1-14
Complete
Final Exam
Available February 19 and 20 ONLY; DUE
NO LATER THAN 9pm CST February 20