McGill University
Desautels Faculty of Management
Introduction to Financial Accounting
MGCR 211
Fall 2008
Objective: This course will introduce the student to the role that financial accounting
plays in reporting the financial results of an enterprise from the perspective of the user of
financial statements.
The following will be examined:
-The principles, components and uses of financial accounting from a user’s
perspective.
-The recording of transactions and preparation of financial statements.
Upon the completion of this course, the student will understand:
-That the use of Generally Accepted Accounting Principles affects the reporting
of financial data.
-How to read and analyze basic financial statements.
-The tools necessary to interpret financial information.
Lecturer:
Sections:
Karen Zajdman-Borden, CA
Office: Bronfman 501
Telephone: (514) 398-4000 ext 0515
Email: karen.zajdman-borden@mcgill.ca
Section 004 Tuesdays/Thursdays Bronfman 151
from 10:05 am to 11:25 am
Section 007 Tuesdays/Thursdays Bronfman 002
from 11:35 am to 12:55 am
Office Hours:
Tuesdays/Thursdays 9:00 am to 9:45 am
Tuesdays/Thursdays 1:00 pm to 2:00 pm
Or by appointment
Course Coordinator:
Catherine Fortin
Secretary:
Linda Foster Office: Bronfman 445
Telephone: (514) 398-4000 ext. 00964
Tutorials:
Available on Fridays TBA
Required Text
Financial Accounting: A user’s perspective;
Fifth Canadian Edition, Hoskins, Fizzell and Cherry;
John Wiley & Sons Canada, Ltd., 2006
ISBN: 0-470-83445-5
Detecting Earnings Management, Gary Giroux
- When you buy the Hoskins textbook you will find a
cardboard paper with a number printed. The number
is your code to access the Hoskins text book and
Giroux text book on the internet.
WebCT:
webct.mcgill.ca
1
Grading:
Mid-term Exam
3 Individual Homework Assignments
2 Group Assignments
Final Exam
30 %
10 %
10 %
50 %
100 %
The midterm exam will be written on Friday, October 10, 12:00 to 2:00 in a location TBA.
Students should advise their professor if they have a conflict with the midterm date or
time. A conflict room will be available for those students who have received approval to
write at another time on the day of the midterm.
The assignments must be completed in groups consisting of 3-4 students. Assignments
are due at the beginning of class on the due dates as they appear on the schedule. It is
advised that students keep a copy of the assignment they hand in. The assigned material
may be changed , any changes will be announced in class and posted on WebCT.
`Missed Examinations:
Students who miss the midterm or final exam must, within 5
calendar days go to the B. Comm. Office and complete a
missed examination form.
Communications:
Following is an extract from McGill’s e-mail policy:
“E-mail is one of the official means of communication between
McGill University and its students. As with all official University
communications, it is the student's responsibility to ensure that
time-critical e-mail is accessed, read, and acted upon in a timely
fashion. If a student chooses to forward University e-mail to another
e-mail mailbox, it is that student's responsibility to ensure that the
alternate account is viable.”
E-mails sent to hotmail, yahoo, or other similar servers often
bounce back. Accordingly, the official means of communication
from lecturer to students will be your WebCT e-mail account.
Academic Integrity:
McGill University values academic integrity. Therefore all
students must understand the meaning and consequences of
cheating, plagiarism and other academic offenses under the
Code of Student Conduct and Disciplinary Procedures. See
http://www.mcgill.ca/integrity for more information
2
Date
Sept 2 & 4
Sept 9 & 11
Sept 16& 18
Sept 23& 25
Sept 30 &
Oct 2
Oct 7 & 9
Oct 10
Oct 14 & 16
Oct 21 & 23
Oct 28 & 30
Nov 4 & 6
Nov 11& 13
Nov 18& 20
Nov 25& 27
TOPICS
-Course intro, course
outline and other matters
-Basic accounting
equation, transaction
analysis & FS effects
-Basic acctg. equation
-Double entry systems
and FS formats
Assignment #1 Individual
-Double entry systems
and FS formats
Analysis techniques, ratio
analysis, interpretation of
FS
Assignment #2 Individual
Cash cycle, revenue
recognition &
performance meas.
Earnings management
Part 1
Mid Term Exam
Canadian GAAP
for Quick assets
Assignment #3- Group
Inventory recognition and
valuation, Cost of Goods
sold measurement
Recognition & valuation
of Capital Assets,
Amortization methods
Assignment #4-Group
Current liabilities,
Commitments and
Contingencies
Net worth,
Contributed and earned
capital accounts
Assignment #5 Individual
Interpretation of Cash
Flow Statement
Earnings management
Part 2
Review Class
CHAPTERS
Chapter 1 Overview of
Financial Reporting
Chapter 2
Business transaction Analysis
& Financial Statement Effects
Chapter 2
Chapter 3
Processing data through the
Accounting System
Due Sept. 16
Chapter 3
Processing data through the
Accounting System
Chapter 12
Financial Statement Analysis
Due Sept. 30
Chapter 4
Revenue Recognition
Chapter 1
Earnings Management *
Chapters 1, 2, 3, 4, 12
& EM
Chapter 6
Cash, Investments, A/R &
Notes Receivable
Due Oct. 21
Chapter 7
Inventory
Chapter 8
Capital Assets – Tangible and
Intangible
Due Nov. 4
Chapter 9
Short-term liabilities
PROBLEM/ASSIGNMENTS
P 1-22, 1-27, 1-30, 1-32, 1-36,
1-56.
P2-13, 2-14, 2-17(only accrual
basis) , 2-24, 2-26 ,2-30,2-35.
1-14, 1-28, 1-31, 1-33, 1-75, 227, 2-37.
P3-22, 3-26, 3-31, 3-35, 3-37.
P12-15, 12-17, 12-18, 12-37,
12-38
3-23, 3-34, 3-42, 3-55, 12-16,
12-25(IgnoreB) , 12-36, 12-42.
P4-15, 4-21, 4-24, 4-26, 4-35,
4-41.
12:00 pm to 2:00 pm
Room TBA
P6-21, 6-23, 6-28, 6-34,
6-37, 6-40.
Case to be handed out in class
P7-13, 7-17, 7-20, 7-25,
7-27.
P8-16, 8-19, 8-20, 8-21, 8-29,
8-35.
4-14, 4-16, 4-30,4-37, 6-24, 650, 7-15, 7-26, 7-33.
P9-19, 9-22, 9-28.
Chapter 11
Shareholders’ Equity
P11-19, 11-21, 11-23, 11-28,
11-30.
Due Nov.18
8-22, 8-23, 8-34, 9-23, 9-33,
11-20, 11-31.
P5-21, 5-22,5-35, 5-52.
Chapter 5
Cash Flow Statement
Chapter 4,5,6
Earnings Management *
* Chapter is found in the Giroux text book – Earnings management.
Final exam date and location TBA. The final exam material is cumulative.
3