Goizueta Business School
Business 210 - Financial Accounting
Plan and Policies - Fall 2014
____________________________________________________________________________
Instructor: Susan Crosson
Office: GBS 462
Email: Susan.Crosson@emory.edu
Website: http://bus.emory.edu/scrosso/
Phone: (404) 727-5178 (office) or (352) 219-0770 (cell)
Office Hours: Monday and Wednesdays 4:00-5:00pm or by appointment
TA Office Hours: TBA
Teaching Assistants:
Patrick Zepeda pzepeda@emory.edu
Sophia Yeam hyeam@emory.edu
Kimi Cheng xinyu.cheng@emory.edu
Yiwen Guo yiwen.guo@emory.edu
Annie Lavin slavin@emory.edu
Iris Xu iris.xu@emory.edu
Matthew Coombs mcoombs@emory.edu Nathan Janick nathan.janick@emory.edu
Class Hours:
Section 000 Monday and Wednesday
8:30-9:45
Room GBS 304
Section 001 Monday and Wednesday
11:30-12:45 Room GBS 304
Section 003 Tuesdays and Thursdays
8:30-9:45
Room GBS 304
________________________________________________________________________
Course Objectives:
Financial accounting is concerned with providing financial information to interested parties
outside the organization (stockholders, potential investors, creditors, regulators, employees,
etc.) We will focus on how financial statements reflect a firm’s economic events to parties
outside the firm. You will develop an understanding of the assumptions, principles, procedures,
and concepts underlying financial accounting, with an emphasis on understanding and
interpreting the information provided by a firm in its published financial statement. By the end of
this course, you should be able to read and understand a set of financial statements.
The first few weeks of the course include an overview of the accounting process and the
theoretical framework upon which accounting is based. Without a good understanding of
this material, the remainder of the course will be very difficult. Students are strongly
advised to keep up with the material from the start.
The remainder of the course studies how specific economic events are recorded in the
accounting system and reported in the financial statements. Generally accepted accounting
principles are discussed, including their limitations and the impact of alternative accounting
practices on the financial statements.
Textbook and Course Materials:
REQUIRED: Financial Accounting in an Economic Context by Jamie Pratt (9th Edition)
Wiley & Sons, Inc. 2014. Other supplemental materials will be handed out during class. If you
miss a class, it is your responsibility to obtain these materials.
Class Participation and Homework:
Regular class attendance is expected of all students. It is also expected that prior to each class,
students will have read the assigned materials and worked the homework assignments. To
acquire a good understanding of the financial accounting concepts and procedures presented in
class, it is imperative that you attempt to solve ALL of the assigned homework problems and be
prepared to discuss your solutions in class. Your ability to participate in class and perform
well on exams is directly related to the amount of time and effort you put into mastering
these assignments.
Each class will start from the assumption that you have completed the required readings and
exercises for that particular class. There may be periodic quizzes to verify this assumption. As
we discuss the financial concepts and procedures presented in class, I will call on you to answer
questions. I may ask for volunteers or I may “cold-Call” for input into the discussion, so please
be prepared. Class participation grades are based on the contributions, both positive and
negative, that you make to the class over the course of the semester. I will take attendance by
distributing a roster each class session for you to sign in with your signature. Please note that
class attendance does not translate into class participation. Excellent attendance is
necessary, but not sufficient, to earn a high participation score. Your questions, answers,
comments, and insights over the course of the semester will contribute to this score. Failure to
come to class, on time and prepared will result in a lower grade than otherwise. If you do not
actively participate in class discussions on a regular basis, your final grade will suffer. Any
behaviors that disrupt the learning environment are considered negative contributions and they
will have an adverse effect on your participation grade. These behaviors include wandering into
class late, not turning off cellphones before class, using laptop computers or communication
devices during class, talking while someone else is talking, excessive bathroom breaks, and
other unprofessional conduct.
It is your job to come to class. If you miss a class, do not ask me questions such as: “Did I miss
anything?” Of course, you missed something. I will try very hard not to waste your time or my
time. If you miss a class, get a copy of someone’s notes and talk to your classmates to find out
what you missed.
Keeping up with homework assignments is your responsibility. I will collect the six starred
homework problems on the assignment schedule of evaluation and diagnostic purposes at the
BEGINNING of the class for which they are assigned, so please make a photocopy of your
homework if you wish to have your solution with you in class. It is your responsibility to bring your
homework assignments to class so you can turn them in. No late assignments will be accepted
and NO CREDIT will be given for solutions lacking a reasonable effort and neatness. I
encourage you to work on your homework problems together. However, copying another
person’s solution and submitting it as your own, dividing up and “swapping out” portions of
assignments, or turning in anything other than your own work is a violation of the Honor Code.
Course Communications:
Blackboard: You are automatically added to our BUS210 Blackboard course when you enroll.
To verify go to Emory.edu home page and click on the Tech link “Blackboard.” Then, sign in to
Blackboard and view your “Courses.” BUS210: Financial Accounting - Fall 2014 should be
listed. Click on it to view course announcements, your grades, and to use password protected
course resources. You should check Blackboard at least daily for any important
announcements.
Nameplate:
The BBA program office will also provide you with a nameplate. In order to facilitate my tracking
of your participation, it is crucial that you bring your nameplate to every class and use it. If
you do not have a nameplate, please see the BBA program office to have one made.
Tub Files:
Student “mailboxes” or tub files are located on the first floor in file cabinets by lockers. I will
return homework assignments and mid-term exams by having them distributed to your tub file.
You should check it regularly. If you do not have a tub file, please see BBA program office to
have one made for you.
Honor Code:
I have no tolerance of acts of scholastic dishonesty. Every student enrolled in courses at the
Goizueta Business School agrees to abide by all provisions of the student-initiated and studentregulated Business School Honor Code (see http://www.bus.emory.edu/HonorCode.pdf for
details). Students who are found in violation of the honor code are subject to verbal reprimand,
written reprimand, an F in the course in question, suspension, dismissal, or a combination of
these or other sanctions. If you have any questions about the behaviors that constitute
violations of the Honor Code, please ask me for clarification.
Withdrawal and Changing Courses:
The Academic Regulations section of the Emory College course catalog sets forth university
policies for withdrawals and other important matters. The last day to add/drop/swap a course
for the Fall 2014 semester is September 3, 2014. The last day to withdraw from a course
without penalty is October 17, 2014. Students who withdraw from this course after this
deadline will receive a grade of WF. Only the College Office can grant an exception to this
penalty.
Time Management:
Time management is the key to doing well in this class. Good performance requires a level of
conceptual understanding that goes beyond the ability to memorize formulas or techniques. Try
making sense of accounting, to internalize the how, why, and what if of the material presented,
instead of just what it is. It is difficult to obtain this type of conceptual understanding by
cramming one or two nights before an exam. Accounting for most people is a subject that
requires study on a regular basis.
If you are preparing well in advance and still struggling, please see my TAs or me during office
hours as soon as possible. Do not delay in seeking help. Prepare a list of questions and we’ll
give you as much time as you need. However, we can’t be of much help with big conceptual
issues one or two days before the exam.
Examinations:
There will be two non-cumulative mid-term exams and a cumulative final exam. Bring only
your Emory ID or other picture ID, pencils, eraser, and a 4-function or business calculator
with no memory to the exam. No bathroom breaks allowed! No dictionaries, scratch paper,
cell phones, notes, backpacks, purses, etc. allowed at your seat during exam.
The date of each exam as well as the material covered is specified in the course calendar. The
mid-term exams are scheduled outside of class at a pre-arranged time period to give you
adequate time to complete the exams. These exam dates are not flexible. You are expected
to take the exam on the date and time they are scheduled.
If Bus 210 exam conflicts with an exam for another class, the class itself, an athletic event or
you need ADSR accommodation, you must notify me via email no later than two weeks
before the exam and present written documentation to schedule an alternative testing date
which will be before the regular exam time. If you miss an exam due to illness or other
emergency reason, you must notify me before the exam and present written
documentation. Students who miss one of the first two mid-term exams due to an excused
illness or emergency will be allowed to drop the exam and have the weight allocated to that
exam added to the final exam. Unexcused absences from any exam will result in a score of
zero for the exam.
Grading:
The exams, homework, assignments, and class preparedness and participation determine your
final letter grade in the course. The weighting assigned is as follows:
Exam I
Exam II
Final Exam
Homework assignments (6)
Class preparedness and participation (includes first day assignments)
25%
25%
25%
12%
13%
100%
The Goizueta Business School uses the following recommended grade distribution for all BBA
pre-requisite and core courses.
Grade
Pre-requisite and Core Courses
A
15%-20%
A-
15%-20%
NOT TO EXCEED
35%
B+
15%-20%
B
15%-20%
B-
10%-15%
TOTAL B (+/-) GRADES
45%
ABOVE NOT TO EXCEED
80%
C+ OR BELOW
20%
The satisfactory/unsatisfactory (S/U) grade option is not available for GBS students or Emory
College students taking any business school course with the exception of a Junior or Senior
Seminar.
Getting Help:
If you have a short, specific question that can be answered online, post your question in
Accounting Labs (located in the Organizations section of Blackboard). Only the
professors, teaching assistants, and lab tutors will see your question (not other students). You
will receive a private response to your question.
To get help in person or to review solutions manuals, you can attend TA office hours or the
Accounting Labs (staffed by TAs and other accounting majors). The Accounting Labs are held
on Mondays, Wednesdays, Fridays, and Sundays throughout the semester except during
Spring Break. A complete schedule is posted as an Announcement in our Blackboard course.
Our BUS 210 TAs should be an invaluable resource for you throughout the semester. They are
available to meet with you individually during their office hours. Office hours will not be held
during Fall Break.
Our course TAs will hold help sessions to help you work through the six homework assignments
that are starred and listed in bold print on the course calendar. Help sessions are scheduled on
the following dates:
Homework #
Date
Time
Room
1-Chapter 4
Sunday 9/14
1:00-3:30 p.m.
GBS 130
2-Chapter 3
Sunday. 9/21
1:00-3:30 p.m.
GBS 130
3-Chapter 6
Sunday 10/19
1:00-3:30 p.m.
GBS 130
4-Chapter 7
Sunday 10/26
1:00-3:30 p.m.
GBS 130
5-Chapter 9
Sunday 11/2
1:00-3:30 p.m.
GBS 130
6-Chapter 11
Sunday 11/23
1:00-3:30 p.m.
GBS 130
I am available to meet with you individually in my office. My regular office hours are held
Monday and Wednesday 4:00-5:00pm. If you cannot make it to my regularly scheduled office
hours, I am happy to set up an alternate time to meet with you. To make an appointment to
meet with me, please send me an email with a list of times that you are available. My goal is
to make help available to fit every schedule. Please make good use of the TA office hours and
the Accounting Lab.
Course Calendar:
Sessions
Topics
MW
TR
Introduction and Overview of Financial Statements
8/27
8/28
Readings: None
9/3
9/2
Readings: Chapters 1 & 2
Discussion Questions: E2-2, E2-3, E2-12, E2-13
Turn in your First Day assignments (VARK Learning Styles, TPI, and
Student Consent Form).
9/4
Discussion Questions: E2-2, E2-3, E2-12, E2-13
9/9
Homework problems: P2-1, P2-3, P2-5
9/8
The Mechanics of Financial Information
9/10
9/11
9/14
Readings: Chapter 4
Discussion Questions: E4-4, E4-7, E4-9, E4-10a
Optional Help Session on Homework 14 Fall Emory Inc. from 1:00-3:30
9/15
9/16
Readings: Chapter 4
Homework Problems: E4-12, E4-16, P4-8, P4-9
9/17
9/18
Readings: Chapter 4 and Appendix 4A (ignore the “indirect method”)
Homework Problems: 14 Fall Emory Inc.*, E4-21
9/21
9/22
Optional Help Session on Homework 14 Fall, Inc. from 1:00-3:30
9/23
Readings: Chapter 4 and Appendix 4A (ignore the “indirect method”)
Homework Problems: P4-17, P4-20
The Measurement Fundamentals of Financial Accounting
9/24
9/25
Readings: Chapter 3
Homework Problems: E3-5, E3-8, P3-12, ID3-7, ID3-10
Catch-up and Review
9/29
9/30
10/2
Homework Problems: 14 Fall, Inc.*
Exam 1 6:00-9:00 p.m.
Rooms: 331, 334, W100, W131, W300, W320, W330
Exam will be on material covered through the end of September.
Cash and Accounts Receivable
10/6
10/7
Readings: Chapter 6
Discussion Questions: BE6-1, E6-4, E6-5, P6-2
10/8
10/9
Readings: Chapter 6
Homework Problems: E6-8, E6-10, P6-3, P6-4, P6-7
Merchandise Inventory
10/15
10/16
10/19
10/20
Readings: Chapter 7
Discussion Questions: BE7-1, E7-4, E7-5, E7-6, P7-3
Optional Help Session on Homework Allowance for Bad Debts from 1:003:30
10/21
Homework Problems: Allowance for Bad Debts*,
BE7-3, E7-10, P7-10, ID7-3, ID7-4
Property, Plant, & Equipment and Intangibles
10/22
10/23
10/26
10/27
Readings: Chapter 9
Discussion Questions: BE9-3, E9-1, E9-7, E9-9, E9-11, E9-15
Optional Help Session on Homework Alternative Inventory Methods from
1:00-3:30
10/28
Homework Problem: Alternative Inventory Methods*,
E9-16, E9-18, P9-13, ID9-13(a-e)
Equity Investments
10/29
10/30
11/2
Readings: Chapter 8
Discussion Questions: BE8-1, E8-2, E8-3, P8-1
Optional Help Session on Homework Alternative Depreciation Methods
from 1:30-3:00
11/3
11/4
Homework Problems: Alternative Depreciation Methods*,
BE8-2, E8-1, E8-4, E8-10, E8-12
11/5
11/6
Catch up and Review
11/6
Exam II, 6:00-9:00 p.m.,
Rooms: 331, 334, 338, 500, W300, W320, W330
Exam will be on material covered through November 6, 2014.
Time Value of Money
11/10
11/11
Readings: Appendix A
Homework Problems: EA-1, EA-2, EA-3, EA-5, EA-7, EA-9, EA-11
Long-term Liabilities
11/12
11/13
Readings: Chapter 11, Appendix 11-A
Homework Problems: BE11-2, E11-3, E11-4, E11-5, E11-7, E11-8
11/17
11/18
Readings: Chapter 11, Appendix 11-A
Discussion Questions: E11-9, E11-11, E11-13, E11-14
11/19
11/20
Readings: Chapter 11, Appendix 11-A
Homework Problems: P11-10, P11-14
11/23
Optional Help Session on Homework Long-term Liabilities-Bonds Payable
from 1:00-3:30
Contingent Losses and Short-term Debt
12/1
12/2
Readings: Chapter 10
Discussion Questions: E10-2, E10-4, E10-7, E10-10, P10-1, P10-4
Stockholders’ Equity
12/3
12/4
Readings: Chapter 12
Homework Problems: Long-term Liabilities-Bonds Payable*,
E12-3, E12-5, E12-6, E12-9
12/8
12/9
Homework Problems: BE12-2, E12-1, E12-13, E12-14 (a-d), P12-10 (a-c)
12/13
Final Exam is scheduled during exam week on Saturday December
13, 2014. Time and location of the exam TBA. Please note that the
exam will be cumulative.