THE INTERNATIONAL BUSINESS SCHOOL
BRANDEIS UNIVERSITY
BUS 6a-Sections 1 & 2
Financial Accounting
Spring 2016
Professor:
Office:
Phone:
E-mail Address:
Office Hours:
Hagit Weihs
Sachar 130 (b)
781-736-8545
hagit@brandeis.edu
Fri 12:30-1:30
and by appointment
Recitations:
Mon 6:30-8:20 PM
TAs: Samuel Dowden
(samdowd@brandeis.edu)
Ze (Vera) Wang
(verawang@brandeis.edu)
Daniel Golynskiy
(ilyagoly@brandeis.edu)
David Schwartz
(dsch914@brandeis.edu)
(*) Mid-Term Exams will be held during recitations
Course Description:
The primary objective of this course is to develop a fundamental understanding of
financial accounting and corporate reporting issues. Students will be exposed to a variety
of real world applications involving for profit financial statements. More specifically,
students will acquire skills allowing them to read, interpret and analyze the income
statement, balance sheet and the statement of cash flows. This course will primarily
address accounting standards employed in the US (GAAP) but will acquaint students
with international standards (IFRS) used by other countries in numerous accounting
areas. Further, issues related to the project on the convergence of standards currently
being conducted by the FASB and IASB will be discussed. Throughout the course,
emphasis will be placed on interpreting financial statements to understand how
accounting information, in a variety of decision settings, can be utilized by managers.
Learning Goals:
Upon completion of this course, students will have a fundamental understanding of
financial reporting issues as they relate to for profit businesses. Students will be able to
(1) prepare, understand, and interpret the basic financial statements (statement of
earnings, balance sheet and statement of cash flows) and (2) evaluate the financial wellbeing of an organization by employing analytical techniques that include financial ratios
and trend analysis. Additionally, students will be able to identify ethical aspects of a
financial situation and evaluate those aspects when making business decisions.
Workload Expectation:
As BUS 6a is a four-credit course, you are expected to spend a minimum of 9 hours of
study time per week in preparation for class (readings, homework, discussions, projects,
preparation for exams, etc.).
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Course Materials:
Financial Accounting, 8th Ed. Libby, Libby and Short, (ISBN 9781308488646) Irwin
McGraw Hill (required). You can either buy the fully digital version which includes an
ebook and assignments OR purchase the printed text and online assignments separately.
McGraw Hill web address for homework assignments (LearnSmart AND
Homework Problems) is: http://connect.mheducation.com/class/h-weihs-spring-2016section-1 or http://connect.mheducation.com/class/h-weihs-spring-2016-section-2 )
Please do NOT purchase the international version of the text as it will NOT
correspond to the syllabus nor any other version.
Please bring a basic function calculator to all class meetings.
Additional Course Materials/Cases: Available on LATTE
Course Requirements:
Course Grading and Exams
Your course grade will be determined based on the following formula:
Homework/Attendance/Participation
Exam 1
Exam 2
Final Exam
Group Project
Total
10%
20%
25%
30%
15%
100%
Attendance:
Class and recitation attendance is required. Records of attendance will be kept for each
class and recitation. Students are allowed one excused absence. Please notify me in
advance when you are unable to make it to class. After the first absence, the
homework/attendance component of the grade will be negatively affected. Please arrive
for class on time and remain until the end of class. It is extremely disruptive when
students enter late or leave early. I do understand that there are valid reasons for needing
to be late or leave early, as such, please notify me prior to class. It is expected that you
will come to each class ready to discuss the readings, exercises and problems.
Homework:
In an accounting class, keeping up with the assigned homework problems is critical to
your success. If you do not take the time to challenge yourself and struggle with the
issues in each problem, you will, in all likelihood, perform very poorly on the exams. All
homework will be submitted via the McGraw Hill Connect platform. You must submit all
homework assignments on time, as there will be significant penalty for late submission.
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IMPORTANT: ALL HOMEWORK SHOULD BE YOUR WORK AND NOT THE
WORK OF OTHERS.
Participation:
Students are expected to adequately prepare for each class session and to actively
participate in class discussion. Class participation involves being regularly engaged in the
discussion/lecture and making a positive contribution by asking thoughtful questions,
sharing relevant experiences, requesting clarification and making comments. All forms of
participation should be conducted in a manner that is respectful of fellow students and the
professor.
Exams:
THERE WILL BE NO MAKE-UP EXAMS, UNLESS THE STUDENT HAS
A VALID EXCUSE AND NOTIFIES THE PROFESSOR PRIOR TO
MISSING THE EXAM. There will be absolutely no opportunity to assign the weight
of a missed exam to another exam. If you miss an exam without a valid excuse, you will
receive a grade of zero. Therefore, please make every effort in advance to ensure that you
will be in attendance on the exam dates shown on the syllabus. Make-up exams will only
be scheduled if you miss an exam for a legitimate reason; you will need to provide
evidence for your absence, and you must notify me prior to the scheduled exam time. If
you have a question regarding an exam grade, you must bring it to my attention with one
week of receiving the grade. All exams are closed book with no index cards/review
sheets of any kind permitted while taking the test. The use of text capable calculators or
cellphones is strictly prohibited.
Academic Integrity:
You are expected to be honest in all of your academic work. Please consult Rights and
Responsibilities for all policies and procedures related to academic integrity. You may be
required to submit work to TurnItIn.com software to verify originality. Allegations of
alleged academic dishonesty will be forwarded to the Director of Academic Integrity.
Sanctions for academic dishonesty can include failing grades and/or suspension from the
university. Citation and research assistance can be found at LTS - Library guides.
Student Accommodations:
If you have a documented disability on record at Brandeis University and require
accommodations, please contact Beth Rodgers Kay (brodgers@brandeis.edu) and bring it
to my attention prior to the second meeting of the class.
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COURSE SCHEDULE – Subject to Change at Professor’s Discretion
Exams 1 and 2 will be given during the Recitation Period
Session
Date
Topics/Chapters
1
F1/15
Introduction
2
T1/19
3
F1/22
4
T1/26
5
F1/29
6
T2/2
7
F2/5
M2/8
Evening
Balance Sheet, Income
Statement/Interrelationship of
Financial Statements
Analysis of Economic Events via
Journal Entries
Adjusting Journal Entries
Income Statement and Expanded
Transaction Analysis
Review/Catch Up
Non-recurring Items and Income
Statement
Reading
Ch. 1, 2(pgs
42-56)
Global
Connections A
(LATTE)
Assignments (due the next class)
Ch. 1, 2(pgs
42-56)
Chapter 1 LearnSmart
E1-3, E1-4, E1-7, P1-1, P1-2
Ch. 2 (pgs 5777)
Ch. 3,
Global
Connections B
(LATTE)
Chapter 2 LearnSmart
E2-4, E2-6, P2-1, P2-2, P2-3
Ch. 4
Chapter 3 LearnSmart
E3-2, E3-3, E3-4, E3-5, E3-17, P3-2, P3-6
Chapter 4 LearnSmart
E4-6, E4-8, P4-2, P4-3, P4-5
Ch. 5
Chapter 5 LearnSmart
E5-10, E5-12, P5-6
Ch. 6
Chapter 6 LearnSmart
E6-9,E6-13, E6-17, E6-18, P6-4, P6-5
Exam 1 (Ch. 1, 2, 3, 4)
Sales and Recievables
8
T2/9
9
F2/12
Sales and Recievables
T2/16
No Class / Midterm Recess
F2/19
No Class / Midterm Recess
10
T2/23
Inventory & Cost of Goods Sold
11
F2/26
Inventory & Cost of Goods Sold
12
T3/1
Non-current Assets
13
F3/4
14
T3/8
15
F3/11
Non-current Assets
Understanding Audited Financial
Statements/Project Introduction
Financial Statement Analysis
16
M3/14
Evening
T3/15
Ch. 7
Chapter 7 LearnSmart
E7-3, E7-9, E7-10, E7-16, E7-20, P7-1, P73, P7-4, P7-8, P7-9, P7-10
Ch. 8
Chapter 8 LearnSmart
E8-2, E8-8, E8-11, E8-13, E8-23,
P8-3, P8-6, P8-8, P8-9, P8-10,P8-11
Email to prof. Weihs team and liaison
Ch. 13
Chapter 13 LearnSmart
E5-17, E13-3, E13-8, E13-9, P7-7, P13-10
Exam 2 (Ch. 5, 6, 7, 8, 13)
Financial Statement Analysis
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Session
Date
17
F3/18
18
T3/22
F3/25
19
20
T3/29
Topics/Chapters
Liabilities and Time Value of
Money
Bond Pricing and Impact of Debt
Financing
Statement of Cash Flows
F4/1
***Last day to Drop***
21
T4/5
Statement of Cash Flows
22
F4/8
Stockholders’ Equity
23
T4/12
Stockholders’ Equity
24
F4/15
Investments
25
T4/19
26
THU4/21
Investments
Friday on a Thursday Schedule
Review/Catch Up
Financial Statement Analysis
Project Due
No Class / Passover and Spring
Recess
No Class / Passover and Spring
Recess
No Class / Passover and Spring
Recess
T4/26
F4/29
Ch. 10
Assignments (due the next class)
Chapter 9 LearnSmart
E9-4, E9-15, E9-22, P9-11, P9-12
Chapter 10 LearnSmart
M10-2, M10-3, M10-4, M10-6, E10-16,
E10-21, P10-8 (1&3), P10-10, P10-12
No Class / March Recess
Bond Pricing and Impact of Debt
Financing
F4/1
F4/22
Reading
Ch. 9
Ch. 13
Chapter 12 LearnSmart
E12-4, E12-7, E12-8, E12-16, P12-1, P12-2,
P12-4
Ch. 11
Chapter 11 LearnSmart
E11-8,E11-11,E11-16,E11-18, E11-22, E1123, E11-24,P11-5,P11-9
Ch. 12
Appendix E LearnSmart
ME-3, ME-4, EE-2, EE-5, EE-6, EE-7, PE-4
Financial Statement Analysis Project Due
Final Exam – Comprehensive with Emphasis on Chapters 9, 10, 11, 12, 13, Appendix E
FINAL EXAM DATE WILL BE ANNOUNCED BY THE REGISTRAR DURING
THE SEMESTER – DO NOT MAKE TRAVEL PLANS UNTIL YOU KNOW THE
SPECIFIC DATES/TIMES OF YOUR FINAL EXAMS.
(Exam period is 5/5-5/12)
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