Yale Summer Session
Summer 2013 – Session A
ACCT S170: Financial Accounting
Monday to Friday: 10:00 a.m. to 11:15 a.m.
Instructor: Nancy Fallon, PhD
Home Phone: 203-433-4375
Cell Phone: 203-824-3213
E-Mail: nfallon@albertus.edu
Office Hours: 15 minutes before or after class or by appointment
Course Description: This is an introductory course in Financial Accounting. The objective of
this course is to introduce you to the techniques used in preparing financial statements and to
help you become an informed user of financial reports. The course will cover the preparation,
interpretation, and analysis of the earnings statement; the statement of financial position; and
the statement of cash flows.
Expectations of Students:
1. Students are expected to attend all class sessions and participate in all class discussions.
2. Students should come to class prepared. All students must bring a calculator and pencil to
class.
3. Students are expected to read course materials for the assigned date.
4. Students are expected to turn in all work on time. Assignments will be due at the beginning
of class unless otherwise specified. Late assignments will only be accepted if arrangements
are made with the instructor.
5. If a class period is missed, it is the student’s responsibility to find out what material was
covered, what assignments were given, etc.
6. Make-up exams will not be given. Students are expected to be present for all
exams. The instructor must be notified in advance if a student is not able to take the exam
because of an emergency. Documentation will be required. Students are expected to be
prepared for the exam and to bring appropriate materials.
7. Students are encouraged to give constructive feedback on the course at any time.
Required Materials:
Libby, Libby & Short. (2011). Financial Accounting (7th edition). New York, NY: McGrawHill Irwin. (978-0-07-811102-0).
Requirements and Grading:
Problem Assignments…………………………………………………. 20%
Team Project ………………………………………………………….. 20%
Examinations (3)………………………………………………………. 60%
Class Schedule:
(Due to unforeseen circumstances, it may be necessary to alter the outlined schedule of activities
during the session. Any such changes will be clearly communicated to the class.)
Date
Topic
June 3
Introduction
June 4
Chapter 1: Financial Statements and Business Decisions
In Class: E2-2
Assignment Due: Read Chapter 1
E1-4, E1-8, E1-12, E1-14
June 5
Chapter 2: Investing and Financing Decisions and the Balance Sheet
In Class: E2-11, E2-12
Assignment Due: Read Chapter 2
E2-1,
E2-2 (Journal Entries)
June 6
Chapter 2: Investing and Financing Decisions and the Balance Sheet
In Class: Complete P2-3
Assignment Due: P2-3 -Journal Entries
June 7
Chapter 3: Operating Decisions and the Income Statement
In Class: E3-7, P3-6
Assignment Due: Read Chapter 3
E3-3, E3-4
June 10
Chapter 3: Operating Decisions and the Income Statement
Chapter 4: Adjustments, Financial Statements, and the Quality of Earnings
In Class: E4-3, E4-4
Assignment Due: Complete P3-6
June 11
Chapter 4: Adjustments, Financial Statements, and the Quality of Earnings
In Class: P4-2
Assignment Due: Read Chapter 4
E4-6, E4-7
June 12
Examination 1: Chapters 1 -4
June 13
Chapter 4: Adjustments, Financial Statements, and the Quality of Earnings
In Class: Complete COMP4-2
Assignment Due: COMP 4-2 (1 & 2)
June 14
Chapter 5: Communicating and Interpreting Accounting Information
In Class: P5-3, P5-4
Assignment Due: Read Chapter 5
P5-1, P5-2
June 17
Chapter 13: Statement of Cash Flows
In Class: P13-1
Assignment Due: Read Chapter 13
E13-1, E13-6, E13-15
June 18
Work on Team Projects: Part 1
June 19
Chapter 6: Reporting and Interpreting Revenue, Receivables & Cash
In Class: E6-8, E6-12
Assignment Due: AP13-1
Read Chapter 6
E6-3
June 20
Chapter 6: Reporting and Interpreting Revenue, Receivables & Cash
In class: P6-5, P6-8
Assignment Due: Read Chapter 6
E6-9, E6-13, E6-23
June 21
Chapter 7: Reporting and Interpreting Cost of Good Sold and Inventory
In class: P7-1, E7-5
Assignment Due: Read Chapter 7
E7-1, E7-4
June 24
Chapter 7: Reporting and Interpreting Cost of Good Sold and Inventory
In Class: P7-2
Assignment Due: E7-9
June 25
Examination 2: Chapters 5, 13, 6, 7
Assignment Due: Team Project Part 1
June 26
Chapter 8: Property, Plant & Equipment, Natural Resources, & Intangibles
In Class: E8-8
Assignment Due: Read Chapter 8
E8-1, E8-3
June 27
Chapter 8: Property, Plant & Equipment, Natural Resources, & Intangibles
In Class: E8-17, P8-8
Assignment Due: E8-13, E8-16
June 28
Work on Team Projects: Part 2
July 1
Chapter 9: Reporting and Interpreting Liabilities
In Class: P9-1, P9-2
Assignment Due: Read Chapter 9
E9-2, E9-4
July 2
Chapter 9: Reporting and Interpreting Liabilities
Chapter 11: Reporting and Interpreting Owner’s Equity
In Class: E11-2, E11-3, E11-4
Assignment Due: P9-4, P9-7
July 3
Chapter 11: Reporting and Interpreting Owner’s Equity
In Class: P11-2, P11-3
Assignment Due: Read Chapter 11
E11-18, E11-22
July 4
Chapter 14: Analyzing Financial Statements
In Class: Analyze P14-10
Assignment Due: Read Chapter 14
P14-10
July 5
Final Examination: Chapters 8, 9, 11, 14
Assignment Due: Team Project Part 2
Instructions for Team Project
This project will be completed by teams of three students. This project will involve a comparison
of public companies in the same industry. You will be examining annual reports of these
companies using the concepts we are covering in class. This project will constitute 20% of your
final course grade.
As a team, you will select an industry to analyze. Use the instructions for CP1-7 on page 41 of
the textbook to select the industry. Each member of the team will then select a company within
that industry. Each student will acquire the annual report for the company they have chosen. Use
the sources listed in the book to access the annual report (or 10-K).
Two class sessions have been set aside for working on your team analysis. Prior to these classes,
each student should complete the questions provided in each chapter (and listed below) and bring
these answers to the team session. Successful completion of the team project is dependent upon
each student completing these assignments prior to meeting as a group.
Part 1: Chapters 1,2, 3, 4, 5, 13
In-Class Team Session: June 18
Complete the questions from the following problems:
CP1-7
CP2-9
CP3-9
CP4-11
CP5-8
CP13-7
Each student should come prepared with the questions answered for their individual company
(you do not have to write an individual report as stated in the problems). The team session is to
discuss the similarities and differences in your responses and to draw conclusions about the
industry. A team report should be compiled (2 to 3 pages typed) and submitted to the instructor
by June 25th.
Part 2: Chapters 6, 7, 8, 9, 11
In-Class Team Session: June 28
Complete the questions from the following problems:
CP6-7
CP7-8
CP8-11
CP9-8
CP11-7
Each student should come prepared with the questions answered for their individual company
(you do not have to write an individual report as stated in the problems). The team session is to
discuss the similarities and differences in your responses and to draw conclusions about the
industry. A team report should be compiled (2 to 3 pages typed) and submitted to the instructor
by July 5th.