Financial Accounting (I)
Spring 2015
PROFESSOR:
Dr. Lihong Liang
Teaching Assistant:
Yujing Sun
OFFICE
642 Whitman
School of
Management
TELEPHONE/EMAIL
315-443-3598
LihongL@syr.edu
LLiang01@syr.edu
346 Whitman
School of
Management
315-289-8951
ysun39@syr.edu
OFFICE HOURS
Mon & Wed: 2:30 pm - 3:30 pm
and by appointment
Tue & Thu: 5:30pm – 7:30pm
and by appointment
E-MAIL POLICY: I will be more than happy to address issues you deem necessary over e-mail. However, if I have
provided the information in class, on the web site, or in this syllabus, e-mails requesting this information will be
disregarded.
COURSE MATERIALS:
Intermediate Accounting, 7th Edition, David Spiceland, Jim Sepe, and Mark Nelson McGraw Hill Irwin, ISBN13: 978-1-121-95665-0 [with Connect Plus access code] (A reserved copy will be available at Bird Library)
Friedman, M. 2011. Building Blocks of Accounting: A Financial Perspective. CyberText Publishing. [
www.cybertext.com ]
COURSE NUMBER/TIME/PLACE:
COURSE NUMBER:
ACC 356/601-M001
ACC 356-M002
DAY
Mon Wed
Mon Wed
TIME
3:45 PM – 5:05 PM
12:45 PM – 2:05 PM
PLACE
SOM 203
SOM 103
COURSE OBJECTIVES
The objective of this course is to give you a more comprehensive knowledge of accounting principles,
theory, methods, rules and procedures associated with the topics covered as they relate to the preparation,
analysis, understanding and use of financial statements. You were exposed to most of the topics that we will
cover in your Introductory Financial Accounting class (ACC151). The difference between this course and
your previous course is that the coverage is more in depth and intense. To be successful in this course, you
must assume your responsibility in the learning process. You are encouraged to “learn for your career,” not
just to pass an exam or the course and to ask questions at any time.
Students entering this class are assumed to have a foundation in: (1) the accounting cycle, journalizing and
summarizing of basic business transactions, basic accounting terminology, and basic financial statements; (2)
basics of spreadsheet applications (e.g., Microsoft Excel); and (3) fundamentals of the time value of money.
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EXAMS:
There will be three exams during the semester. The two midterms will be held during class. The final exam will be
administered at the date and time determined by the Registrar’s office. Please check the Registrar’s web
page or Myslice for any updates to the final exam schedule. The final exam will be comprehensive: while
it focuses on new topics covered after the two exams, you will need to apply your knowledge of the
techniques learned in previous topics to complete the exam. Exams are closed book and closed notes.
Failure to take an exam will result in a grade of zero unless I am presented with a legitimate excuse, documented in
writing. Conflict and make-up exams will be given to those with official absences. You must give advance notice where
possible. To be eligible for a make-up, you must present a written request which outlines the reason for your absence
from the exam as well as your case for your absence being justified as an official (allowable) absence. The request must
include your student ID, phone number and section number.
Note: Medical excuses are acceptable if accompanied by appropriate evidence. Certification of a diagnosis that will
prevent or that prevented the student from taking the exam is appropriate evidence. It is the student's responsibility to
take care of these matters in a thorough and timely manner, prior to scheduling a conflict exam.
Multiple exams on one day, or personal travel arrangements do not constitute a make-up and will not be addressed.
You know all exam dates several weeks in advance, and it is your job to plan ahead and assure that you have ample
time to prepare for them.
Grading:
1st Midterm (in class)
2nd Midterm (in class)
Final Exam (final exam period)
Highest Exam Grade
Cybertext
Homework
LearnSmart
Group Project
Professionalism
20%
20%
20%
5%
5%
15%
5%
5%
5%
Total
100%
Undergraduate Grading Policy
The faculty at the Whitman School of Management developed and approved a uniform grading policy for our
undergraduate program. The policy has three goals:
- To ensure that grading is fair and consistent across courses;
- To encourage excellence in student scholarship; and
- To ensure faculty deliver a challenging academic experience
All instructors who teach undergraduate courses are required to follow this grading policy.
For all undergraduate courses taken at the Whitman School of Management with 15 or more students enrolled,
the mean grade shall be no higher than 3.30 and the maximum percentage of A/A-s is 33%.
Grade Determination:
Grades will only be determined by the exams, homework, LearnSmart, Cybertext, Group Project and professionalism in
the section for which you are registered.
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The Required online material for Cybertext is “Building Blocks of Accounting: A Financial Perspective”. This is an
interactive financial information summarization and statement preparation case. The tool is self-contained in an Excel
workbook. The case is available at an external website: www.cybertext.com.
It is practically impossible to learn accounting without working problems. Homework and LearnSmart will be
assigned to you through Connect, which gives you immediate feedback and automatically grades your work. The
assigned homework is to be completed by 3am on the due day and LearnSmart is due by noon on the same day (see
tentative schedule on Page 5&6). The lowest homework and LearnSmart scores will be dropped. Although the
recommended assignments are not collected and graded, this is in no way implies that they are not important. I
strongly suggest that you read all the relevant readings before you do the recommended assignments. The solutions for
the recommended problems will be on the Blackboard course website. Resist the temptation to have the solutions open
when you work the recommended assignments. The solutions are provided to make your study more efficient, but you
should not refer to them until after you have worked the problems. This is not a class in which you can easily catch up
if you fall behind. The course moves very quickly, and builds upon prior knowledge. Successful students will do the
homework religiously after each chapter, and do them fully. Falling behind is a recipe for disaster.
Each student is expected to behave professionally. A grade is assigned at the end of the semester for professionalism. I
reserve the right to assign “negative class contribution” for inappropriate classroom behavior. Professionalism includes
(but is not limited to):
• Attending each class and arriving on time (Participation/attendance will be monitored each class meeting. Class
will begin at the scheduled time. Each student is expected to remain until class is finished. Promptness is an
expected quality of individuals in any profession);
• Being adequately prepared for each lecture (e.g., read the chapter and complete LearnSmart before class);
• Being respectful to your classmates and instructor;
• Asking intelligent questions and volunteering to answer questions I asked (occasionally, an interesting question
or comment may arise, which due to time constraints, may have to be deferred either to another class time or to
my office hours. This in no way minimizes the importance of the question or comment);
• During this class, only work on this class. Don’t work on another class, surf the internet, text, etc. If a laptop is
open during class time, it is to work on this class;
• Turning cell phones OFF or to vibrate mode before class
Pop quizzes which are part of the professionalism are possible. Missed quizzes cannot be made up.
Your section has a seating chart, and I will look for you in your assigned seat. Please bring your name cards to class.
They will help me learn your names and insure that you receive credit for your class contribution.
The keys to success in this class are to 1) prepare before class, 2) attend and participate in class, and 3) review and do
homework after class. This class progresses rapidly. It is important for you to keep updated and to seek help from the
instructor as soon as you experience difficulties in the course materials.
Class Web site:
Register for this course on Blackboard. Go to http://blackboard.syr.edu and log in.
The syllabus, class outlines and powerpoint slides, problem solutions, grade book and a class chat line are on the web.
Homework assignments from the textbook are available through McGraw Hill Connect, which has been set up for you.
The access code comes with the textbook. If you have any technical issues with Connect, please call their Customer
Experience Group for help (1-800-331-5094). All technical issues must be reported to Customer Experience Group in
order to get resolved. If you have a legitimate problem with Connect, you will be issued a case number. If you have a
problem of completing an assignment due to technical issues with Connect, you need to present that case number to
me.
3
Class Handouts:
An outline of each class presentation is provided to you on the syllabus for ease in following the lecture. Class notes
will be posted on blackboard. The purpose of these notes is to keep the class moving and use time efficiently as well
as to provide a summary of what was covered in each class. Also, many students find these notes helpful for review
and to study for the exams.
Academic Integrity:
“Syracuse University sets high standards for academic integrity. Those standards are supported and enforced by
students, including those who serve as academic integrity hearing panel members and hearing officers. The
presumptive sanction for a first offense is course failure, accompanied by the transcript notation “Violation of the
Academic Integrity Policy.” The standard sanction for a first offense by graduate students is suspension or expulsion.
Students should review the Office of Academic Integrity online resource “Twenty Questions and Answers About the
Syracuse University Academic Integrity Policy” and confer with instructors about course-specific citation methods,
permitted collaboration (if any), and rules for examinations. The Policy also governs the veracity of signatures on
attendance sheets and other verification of participation in class activities. Additional guidance for students can be
found in the Office of Academic Integrity resource: ‘What does academic integrity mean?’”
Related Links:
The Academic Integrity Policy: http://academicintegrity.syr.edu/academic-integrity-policy/
Twenty Questions and Answers about the Academic Integrity Policy: http://academicintegrity.syr.edu/facultyresources/
What does academic integrity mean?: http://academicintegrity.syr.edu/what-does-academic-integrity-mean/
Religious Observances:
SU’s religious observances policy, found at http://supolicies.syr.edu/emp_ben/religious_observance.htm, recognizes
the diversity of faiths represented among the campus community and protects the rights of students, faculty, and staff
to observe religious holy days according to their tradition. Under the policy, students are provided an opportunity to
make up any examination, study, or work requirements that may be missed due to a religious observance provided they
notify their instructors before the end of the second week of classes. For fall and spring semesters, an online
notification process is available through MySlice/Student Services/Enrollment/My Religious Observances from the
first day of class until the end of the second week of class.
Additional Requirements, Guidelines and Comments:
1.
You should read the textbook material before and after each class, and review for each class by studying the
notes and doing the homework problems.
2.
Additional problems beyond those assigned and recommended can be done at your leisure. The
solutions manual will be on the Blackboard course website.
3
Each student should have a basic FOUR FUNCTION NON-PROGRAMMABLE calculator. Cell phones with
a calculator/camera function or any other calculator that can be programmed with text or formulas are strictly
prohibited during exams.
4
If you believe that you need accommodations for a disability, please contact the Office of Disability
Services(ODS), http://disabilityservices.syr.edu, located in Room 309 of 804 University Avenue, or call (315)
443-4498 for an appointment to discuss your needs and the process for requesting accommodations. ODS is
responsible for coordinating disability-related accommodations and will issue students with documented
Disabilities Accommodation Authorization Letters, as appropriate. Since accommodations may require early
planning and generally are not provided retroactively, please contact ODS as soon as possible.
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Course Outline
(Subject to Change)
Class
M001/M002
Topic
1
1/12 Mon
Course Requirements/
Chapter 1
2
1/14 Wed
Chapter 1
1/19 Mon
HW (done
in Connect)
Recommended HW (Solutions will be
posted on blackboard)
E1-1, E1-2, E1-6, E1-7, E1-9, E1-11,
E1-14
Martin Luther King Jr. Day Holiday!
3
1/21 Wed
Chapter 2
E2-2, E2-4, E2-6, E2-7, E2-8, E2-9, E210, E2-11, E2-12, E2-13, E2-15, P2-6
4
1/26 Mon
Chapter 2
5
1/28 Wed
Chapter 3
6
2/2 Mon
Chapter 3
7
2/4 Wed
Chapter 4
8
2/9 Mon
Chapter 4
9
2/11 Wed
Special Topics & Review
10
2/16 Mon
1st Midterm Exam (in
class)
11
2/18 Wed
12
2/23 Mon
Discuss Exam 1/
Chapter 5
Chapter 5
13
2/25 Wed
Chapter 5
14
3/2 Mon
Chapter 7
15
3/4 Wed
Chapter 7
16
3/9 Mon
3/11 Wed
3/16 Mon
HW (Chp5)
due
Spring Break!
Chapter 8
Cybertext
due
17
3/18 Wed
Chapter 8
HW (Chp7)
due
18
3/23 Mon
Special Topics & Review
19
3/25 Wed
20
3/30 Mon
2nd Midterm Exam (in
class)
Discuss Exam 2/
E3-2, E3-3, E3-4, E3-5, E3-10, E3-11,
E3-12, E3-15
HW (Ch1)
due
E4-1, E4-2, E4-3, E4-4, E4-5, E4-6, E47, E4-9, E4-10, E4-11
HW (Ch2)
due
HW
(Chp3&4)
due
E5-1, E5-2, E5-5, E5-6, E5-9, E5-11,
E5-12, E5-13, E5-15, E5-19
E7-1, E7-2, E7-5, E7-6, E7-7, E7-8, E710, E7-11, E7-12, E7-13, E7-14, E7-15,
E7-16
HW (Chp8)
due
5
E8-1, E8-2, E8-4, E8-6, E8-7, E8-8, E89, E8-10, E8-11, E8-13, E8-14, E8-15,
E8-16, E8-17, E8-19
21
4/1 Wed
Chapter 9
Chapter 9
22
4/6 Mon
Chapter 10
23
4/8 Wed
Chapter 10
24
4/13 Mon
Chapter 11
25
4/15 Wed
Chapter 11
26
27
4/20 Mon
4/22 Wed
Chapter 12
Chapter 12
28
4/27 Mon
Special Topics & Review
Final Exam:
M001 (3:45
section)
M002 (12:45
section)
5/5/2015, Tue; 10:15am –
12:15pm SOM203
5/1/2015, Fri; 10:15am –
12:15pm SOM 103
Final Exam:
E9-1, E9-3, E9-5, E9-8, E9-9, E9-10,
E9-11, E9-25
E10-1, E10-2, E10-3, E10-4, E10-5,
E10-6, E10-7, E10-8, E10-9, E10-14,
E10-15, E10-16, E10-17, E10-18, E1019, E10-23, E10-24, E10-26, E10-27
HW(Chp9)
due
E11-1, E11-2, E11-3, E11-6, E11-11,
E11-12, E11-13, E11-14, E11-16, E1118, E11-19, E11-22, E11-25, E11-26,
E11-28, E11-31
HW(Chp10)
due
6
Group
Project Due
HW(Chp11)
due
HW(Chp12)
due