INTRODUCTION TO ACCOUNTING -- ECONOMICS 211
SPRING SEMESTER, 2015 (Sections A – D)
INSTRUCTOR:
Ben Baker, CPA
Office: 2150 Chambers
bebaker@davidson.edu
Office hours
M-W-F: 9:30 -- 10:15
M-W-F: 11:30 -- 12:15
Other times by appointment
Schedule:
MWF 8:30 – 9:20 (Sections A & B)
and
MWF 10:30 – 11:20 (Sections C & D)
Chambers 2164
Objective:
As with any course, there are many objects, some explicit and some implicit. ECO 211 is
designed to help students of the liberal arts build a foundation in the language of business.
Virtually everyone must deal with financial accounting at various times. Whether you
work for a Fortune 500 company, run a family-owned business, work for a non-profit
entity, or simply want to invest for your retirement, an understanding of accounting is
critical. Accounting is not about mathematics. It is a language and a system of logic that
allows financial information to be exchanged in an effective and efficient manner. This
course will help you develop a foundation in the language of business, will require you to
understand the building blocks of accounting systems (data collection and journalizing
transactions), will ask you to express financial information in a standard manner
(preparation of financial statements), and finally will allow you to assess the performance
of an entity (financial statement analysis). Upon completion of the course, you should
feel comfortable reading and evaluating a set of financial statements at a basic level and
be able to participate in discussions of a financial nature.
This course will emphasize US Generally Accepted Accounting Principles (GAAP). We
will often compare and contrast US GAAP with International Accounting Standards
(IAS). All financial statements will be prepared in accordance with US GAAP. You are
expected to learn how to prepare, in proper form, the Income Statement, Statement of
Owners Equity (and it derivations), and the Balance Sheet. There is a reason that
statements are punctuated as they are and are arranged in columns in a specific way. You
should pay close attention to those details throughout the semester. A firm understanding
of these details will enhance your ability to use financial information.
Honor Code
All work in this course is bound by the Honor Code. Students may not use reviews
from previous semesters for study purposes. If you find that old reviews for the course
have been saved as part of a test bank by an organization, please act to remove or
delete them to prevent other students from being tempted to use them.
Attendance
Students are encouraged to attend all class meetings. It is the responsibility
Policy
of the student to make up any work missed due to an absence. Announcements are often
made at the beginning of class periods. Failure to arrive on time is not an excuse for
missing the announcements. Students should make every effort to be seated and ready
for class to begin at the appointed time. It is distracting when students arrive after the
lecture has begun. Consider the appropriateness of entering the classroom late.
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Announcements
Announcements concerning upcoming assignments, handouts needed for class, schedule
changes, job and internship opportunities, interesting lectures, etc., may be distributed by
email. I do not use Moodle. Be sure to check your Davidson email account regularly for
messages from me. It is your responsibility to be aware of these messages.
Cell phones
Cell phones are not permitted in class. Turn off cell phones before class begins.
Texting during class is absolutely prohibited. Anyone found to be texting will be asked
to leave the room and will not be allowed to return to class until they meet with the
instructor to provide assurance that it will not happen again. If you simply cannot help
yourself, you are welcome to leave your telephone in my office during class time. This
is a zero tolerance policy, unfortunately necessitated by repeated occurrences in previous
semesters.
Grading
Three reviews will be given during the semester. The tentative dates for reviews are
listed below. Any changes to that schedule will be announced at least one week in
advance. A comprehensive final examination will be given during the examination
period. Reviews are due at the time indicated; extensions will be allowed only for dire
circumstances. Arrangements for turning in a review must be made with the professor in
advance. Because reviews are given on a take-home basis and are handed out several days
prior to the due date, students should be able to avoid conflicts and should find time to
take the review by the due date. Failure to complete a review in a timely manner will
result in a penalty of 10 points per calendar day (Saturday and Sunday count as one
calendar day) that review is late. This rule is in fairness to other students who take the
review as assigned. An extension of time to study is unfair to those who have prepared
for a review according to schedule.
Outside homework assignments will be made. You are allowed to collaborate with other
students on these assignments. The problems should be attempted before they are
discussed in class. Reference to student homework assignments (other than your own)
from previous years is specifically prohibited. You are permitted and encouraged to
correct your outside work during class. Solutions to all homework assignments will be
provided on line.
Grade assignments:
Three hourly reviews (23% each)
Cumulative final exam*
69
31
100
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Final examination notes:

Final Examination: The final exam will be cumulative. Approximately one-third of
the points on the final will relate to questions on Chapters 14. The remainder will
cover topics from the remainder of the course.
Before meeting Number 40, each student should provide an examination envelope.
Do not put anything inside the envelope. Bring paper with you when you take the
exam. Do not use blue books.
All information needed for the examination will be provided in the examination
envelope. Time-value tables will be provided, if needed. All that you need to bring
to the exam center is paper, pencil and a calculator, if desired.
The exam typically takes about 2 ½ hours to complete. As with any average, some
students take longer and some take less time.
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
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Tentative dates for reviews:
Review:
1
2
3
Distributed:
2/4
2/27
4/8
Due:
2/11
3/11
4/15
Prerequisite:
None
Text:
Financial Accounting, 12th edition; Needles and Powers. (ISBN: 978-1-133-93928-2)
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Guest speakers:
We will have guest speakers during the semester. Three will represent masters programs in
accounting (MAcc and MS in Accounting). I realize that those class periods will not be of interest
to every student. However, over the last several years, more than seventy Davidson students have
enrolled in MAcc programs and several have performed with distinction on the CPA Exam.
Almost every one of those students told me that he or she would not have known about the
opportunity if I had not invited relevant speakers to my class. So, I ask that even if you currently
have no interest in a MAcc program, please attend class and be respectful of our guests. They
have been very generous to Davidson students over the years and I do not want to harm the
relationships that have been developed over many years.
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INTRODUCTION TO ACCOUNTING
ECONOMICS 211
COURSE ASSIGNMENTS
SPRING, 2015
All assignments are tentative and may be changed as necessary during the semester
MEETING
1
1
CHAPTER
ASSIGNMENTS
Read pages 1 -- 23
2
1
Continue Chapter 1
Short exercises: 3
Exercises: 5, 6, 11
Problems: 2, 3
3
1
Conclude Chapter 1
4
2
Read pages: 39 – 69
Short exercises: 1, 4, 5, 6, 7
5
2
Exercises: 3, 5
Problems: 2, 3
6
3
Read pages: 85 -- 110
Short exercises: 2, 3
7
3
Short exercises: 4, 5, 6,
Exercises: 3, 5, 6, 8, 9, 10,
Problems: 1, 2, 3
8
3
Conclude Chapter 3
9
4
Read Pages: 131 -- 141
Short Exercises: 3, 4, 5, 6
Problems: 1 (Page 157)
10
4
Conclude Chapter 4
Review
Chapters 1 – 4. Take-home review will be distributed.
11
5
Read Pages 169 – 192
Short exercises: 3, 4, 5, 6
Exercises: 3, 7
Problem: 2
12
5
Continue Chapter 5
13
6
Read pages 205 – 227; 232 –235
Short Exercises: 3, 5, 6, 7, 9
Exercises: 2, 4, 6, 7, 11, 12
Problems: 2, 4
5
14
6
Continue Chapter 6
15
6
Conclude Chapter 6
16
7
Read pages: 263 - 288
Short exercises: 2, 4, 5, 8, 9
Exercises: 2 (not part 2), 7 (not part 1b), 12
Case: 7 (page 299)
17
7
Continue Chapter 7
18
7
Continue Chapter 7
19
8
Read pages: 301-- 314
Short exercises: 9
Problems: 4, 9
20
8
Concluded Chapter 8
Review
Chapters 5 - 8
21
9
Read Pages: 335 – 350
Short Exercises: 3, 4, 5, 6
Exercises: 2, 3, 4, 7, 8
22
9
Continue Chapter 9
23
9
Conclude Chapter 9
24
Appendix A
Read pages: 759 – 764; 770 -771
Problems: 1, 5
25
Appendix A
Conclude Appendix A
26
10
Read pages: 367 – 398 (skip 384 – 386);
Plus a handout for disposals of assets
Short exercises: 2, 6, 8
Exercises: 5, 6, 8, 11, 12
27
10
Continue Chapter 10
28
10
Continue Chapter 10
29
10
Conclude Chapter 10
6
30
11
Read pages: 409 – 439 plus a handout for Future Values
Short exercises: 3, 6, 7, 8
Exercises: 3, 4, 8, 10, 12, 13, 14
31
11
Continue Chapter 11
32
11
Continue Chapter 11
33
11
Continue Chapter 11
Review
Chapters 9 – 11 and Appendix A
34
13
Read pages: 491 – 527
Short Exercises: 4, 5, 6, 7, 8, 10, 11, 12, 14
Exercises: 2, 4, 5, 7, 8, 9, 11, 12, 13, 14
35
13
Continue Chapter 13
36
13
Continue Chapter 13
37
13
Continue Chapter 13
38
13
Conclude Chapter 13
39
14
Read Pages: 545 – 566
Short Exercises: 4, 5, 6, 7
Exercises: 3, 4, 6, 7, 8, 9
40
14
Conclude Chapter 14
41
14
Continue Chapter 14
42
14
Conclude Chapter 14
Examination Period:
Cumulative examination
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