AF 210 Financial Accounting
College of Management
University of Massachusetts Boston
Fall 2013
Faculty: Yong-Chul Shin, Ph.D.
Office and Telephone Number: M-5-419, (617) 287-7732
E-mail Address: yong-chul.shin@umb.edu
Office Hours: Monday 2:30pm-4:00pm and Tuesday 4:00pm-5:30pm, or by appointment
Course Website (Blackboard Learn): https://umb.umassonline.net
Course Description
This course is the first in a two-part series intended to introduce the student to the basics of
accounting. This first course provides an introduction to financial accounting. The primary
purpose of financial accounting is to collect financial information about a business into financial
statements which can be used by decision makers both internal to (e.g., CFO and Treasurer) and
external to (e.g., shareholders and creditors) the firm. The goal of this course is to familiarize
students with the language and procedures used in creating financial statements so that students
will be knowledgeable end-users of this information.
Mandatory for all College of Management students
Prerequisites: 30 credits
Required Text and Materials
Financial Accounting, Libby, Libby and Short, 7th Edition with Connect Plus
ISBN 0077974522 / 9780077974527 customized for University of Massachusetts Boston.
Connect web address: http://connect.mcgraw-hill.com/class/shin_af210_fall2013
Course Objectives
• To familiarize the student with various concepts related to income and expense recognition, as
well as the recording of assets, liabilities, and owner’s equity.
• To develop an understanding of the financial statement components – the balance sheet, the
income statement, and the statement of cash flows.
• To develop an awareness of how financial statement information can be used for effective
decision making.
• To equip the student with the tools required to perform basic financial statement analysis.
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Course Requirements
• A basic knowledge of mathematics is necessary for successful completion of this course. The
material presented in MATH 129 is sufficient. If you are concerned about your math skills,
please talk with me immediately.
Class Format
The class is conducted largely on an interactive basis, with some lectures and extensive problem
solving. Each student is expected to complete the reading assignments BEFORE each class
meeting. I will approach the class as if you are prepared. Classroom participation from all
students is highly encouraged as it makes the class move quicker and more interesting.
Attendance and Participation
Your attendance and participation is an important element of the learning process. You are
expected to have read the chapter materials prior to class. Come prepared to ask and respond to
questions and participate fully in class exercises. Your participation grade will also be based on
your classroom behavior. Disruptions such as chronic lateness and ringing cell phones will
reduce your grade in this class. Your cell phone must be turned off during class time. If you
have an emergency situation and are expecting a phone call, let me know before class starts.
Homework
Homework is worth 10% of your grade. There will be 10 individual homework assignments on
Connect throughout the semester. At the conclusion of each chapter, each student will be
responsible for completing the online homework for that chapter. The available dates and due
dates are clearly displayed on the Connect main menu.
Financial Statement Analysis Case
A Financial Statement Analysis case provides a review of our cumulative knowledge
accumulated during this course. The case will be distributed in November and is due on
December 13th at 11:59pm. No late cases will be accepted under any circumstances.
The case may be completed in groups of no more than three people. I will not accept work from
groups larger than three people. I will consider strong similarities in the submitted work across
groups to be a violation of our policy on academic integrity and the matter will be considered
cheating.
Quizzes
There will be 5 individual class quizzes throughout the semester. The quiz dates are listed on the
class schedule.
Testing
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There will be three exams: 2 midterms and a final. As the dates for the midterms are specified in
the syllabus and the final examination date is determined by the registrar, it is expected that all
students will be at the exams AS SCHEDULED. If a student fails to take an exam at the
scheduled time, the student will receive a score of zero on that exam. Make-up exams will only
be given under extreme circumstances and only if previously arranged with me. All illnesses
must be documented. Work/travel related excuses for missing exams will not be accepted.
Among the three exam scores, the highest one will get 25% and the other two will get 20% each
of the final grading.
The only materials which may be brought into a test are pencils and a basic calculator. No
books, cell phones, computers, translators, or programmable calculators will be permitted. If you
do not bring a calculator to an exam you will have to do calculations by hand. I will not supply
students with calculators, and calculators cannot be shared under any circumstances.
Let me be very clear – cell phones are communications devices and not calculators or clocks.
Cell phones must be turned off and put away during exams.
There will be no extra credit opportunities to be offered in this class. Therefore, I strongly
urge you to plan to prepare well for the examinations during the semester.
Grading
Two midterm and a final exams
Quizzes
Connect Homework
Financial Statement Analysis case
Attendance and Participation
Total
65%
10%
10%
10%
5%
100%
A 93%
A- 90-92.9%
B+ 87-89.9%
B 83-86.9%
B- 80-82.9%
C+ 77-79.9%
C
CD+
D
DF
73-76.9%
70-72.9%
67-69.9%
63-66.9%
60-62.9%
<60%
Any student not fulfilling his/her academic obligations for this course will receive a failing grade
for the semester. Incompletes will only be granted under the most extreme of circumstances and
only if agreed upon by the instructor before the completion of the semester. Any issues
regarding such a situation will be referred to the Dean's office.
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Academic Honesty
Students are required to adhere to the University Policy on Academic Standards and Cheating, to
the University Statement on Plagiarism and the Documentation of Written Work, and to the
Code of Student Conduct as delineated in the University Catalog and Student Handbook. The
Code is available online at:
https://email.umb.edu/exchweb/bin/redir.asp?URL=http://www.umb.edu/student_services/studen
t_rights/code_conduct.html. All work submitted for this course should be completed only by the
student being evaluated. Students caught cheating or plagiarizing will, at the discretion of the
instructor, flunk either the assignment in question or the course and will have a description of the
incident attached to his or her academic records. If you have any questions regarding the
definition of cheating or plagiarizing I strongly encourage you to talk with me so there are no
misunderstandings.
Academic Disabilities
If you have a disability and feel you will need accommodations in order to complete course
requirements, please contact the Ross Center for Disability Services (CC, UL Room 211) at
(617) 287-7430. For more information see: http://www.rosscenter.umb.edu/ Please discuss any
issues/concerns that you have with me AT THE BEGINNING OF THE SEMESTER so that we
can be sure to make suitable arrangements for test taking etc …
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Class Schedule
(Please note that schedule and assignments may be changed as the semester goes by.
Examination schedule will not change.)
Class
Date
1
9/9
2
9/16
9/22
(Sun)
3
9/23
4
9/30
10/6
(Sun)
5
10/7
6
10/21
Subject
Reading
Introduction &
Financial Statements and Business
Decisions
Investing and Financing Decisions
and the Balance Sheet
Ch. 1
M1-2, E1-2,E1-4, E1-7, E1-9, E1-11 (due
9/15)
Ch. 2
M2-3, M2-4, M2-5, M2-8, E2-1, E2-2, E23, E2-4, E2-6 (due 9/22)
Connect Quiz #1 (Ch.1 & 2)
Submit Quiz on Connect
Operating Decisions and the Income
Statement
Adjustments, Financial Statements,
and the Quality of Earnings
Ch. 3
Ch. 4
Submit Quiz on Connect
Exam 1
Ch.4 (Cont’d)
Communicating and Interpreting
Accounting Information
Covers Chapters 1, 2, and 3.
Ch. 4
Ch. 5
Connect Quiz #3 (Ch.4 & 5)
7
10/28
Sales Revenue, Receivables, and
Cash
Ch. 6
8
11/4
Cost of Goods Sold and Inventory
Ch. 7
9
11/17
(Sun)
11/18
10
11/25
11
12/2
12
12/9
M3-3, M3-4, M3-5, M3-6, M3-7, E3-3, E34, E3-7, E3-9 (due 9/29)
M4-1, M4-2, M4-3, M4-6, E4-7, E4-8, E49, E4-11 (due 10/13)
Connect Quiz #2 (Ch.3)
10/27
(Sun)
12/8
(Sun)
Assignment Due
M5-3, M5-4, M5-5, E5-1, E5-2, E5-3, E55, E5-6, E5-13, E5-14, E5-17 (due 10/27)
Submit Quiz on Connect
Connect Quiz #4 (Ch.6 & 7)
M6-1, M6-2, M6-3, M6-4, M6-6, M6-9 E63, E6-5, E6-6, E6-9, E6-11, E6-12, E6-16
(due 11/3)
M7-1, M7-2, M7-3, M7-4 M7-5, E7-1, E75, E7-13, E7-14, E7-21 (due 11/10)
Submit Quiz on Connect
Exam 2
Covers Chapters 4, 5, 6, and 7.
M/C Questions, M14-3, M14-6, E14-5,
Analyzing Financial Statements
Ch. 14
E14-12 (due 12/1)
11/28 – 12/1 Thanksgiving Recess
M/C Questions, M8-1, M8-4, M8-6 E8-3,
Property, Plant, and Equipment;
Ch. 8
E8-4, E8-5, E8-6, M8-7,M8-8, M8-9, E8Natural Resources; and Intangibles
11 (due 12/8)
Connect Quiz #5 (Ch.8 & 14)
Submit Quiz on Connect
Liabilities
M9-1, M9-2, M9-7, M9-8, M9-9, M9-10,
M9-11, E9-4, E9-5, E9-14, E9-15, E9-16,
E9-17, E9-18, E9-19, E9-20, E9-21 (due
12/13)
Submit Financial Statement Analysis on
Blackboard (due 12/13)
Ch. 9
Final Exam (Final Exam Period, December 16 -20); Covers Chapters 8, 9, and 14.
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