ACCOUNTING 7080-001
FINANCIAL/MANAGERIAL ACCOUNTING
SPRING 2015 7:10-10:10pm Wednesdays
INSTRUCTOR
Name:
Office:
Phone:
Office Hours:
E-Mail:
Charlene Spiceland, PHD, CMA, CPA
#201 – Fogelman College of Business
413-1431 (best to email me!)
T-R 2:00pm – 4:00pm or by appointment
cspice@memphis.edu
WELCOME TO FINANCIAL/MANAGERIAL ACCOUNTING
Accounting is often referred to as the language of business. The purpose of accounting is to
provide meaningful financial information to individuals and institutions that have an interest in
business, whether they are investors, creditors or managers. Most Americans today invest in
business through the stock market. Intelligent investors seek out financial information on
companies to make more informed investment decisions. It is a company’s accounting system
that creates and provides the information used by investors. Business managers likewise need
information produced through accounting in making the day-to-day operational decisions that
improve a company’s performance and profitability. If you hope to become a successful
investor or manager or simply want a better understanding of your own financial situation, you
will need to understand accounting information to improve your decision-making.
KEYS TO SUCCESS IN THIS COURSE
Many consider accounting to be another math course. This is far from the truth. While numbers
are involved throughout, the math is basic. Do not tell yourself, “I have never been good at math
so I will not do well in an accounting course.” Accounting involves analyzing business
transactions, knowing how to record those transactions, preparing financial statements, and
interpreting financial results. Doing well in an accounting course involves analyzing and
organizing information. For this reason, homework, class work and attendance are the keys to
success. Students often falsely believe that they can wait until the night before the exam, cram
everything in, and do just as well as if they were prepared daily. To do well, you need to attend
class each period. I can help to synthesize the material and point out the key concepts that are
needed. Students generally learn far more in less time inside of class than they do on their own
outside of class.
Students should also complete the assigned homework before class. Students not familiar with
the problems will have difficulty keeping up in class. Finally, expect that you can learn the
material each class. Do not be intimidated by the numbers or the complexity of the topic. Your
goal should be to understand all material each class.
This course builds on core concepts that are covered in the first three chapters of the book.
Because these concepts are required to be able to grasp the remaining chapters, we will spend a
greater percentage of time on the first chapters. Be sure to read the course schedule below to
know what material will be covered and tested.
In every class, some students have a natural talent for understanding accounting and do well on
the multiple-choice exams with relatively little effort. Other students are able to master the
material only after working very hard. Finally, for some students, the analytical thinking process
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associated with accounting is a skill that they seem to have been born without and regardless of
the time and effort put into the course it just doesn’t come. If this is you and you have honestly
put forth your best effort, do not get discouraged. Do the best you can, learn as much as you can,
and do not become overly concerned about your ultimate grade. I plan on making the class as
enjoyable an experience as possible!
CRITICAL THINKING & COMMUNICATION
In our class projects on financial and managerial accounting topics, you will be continually
encouraged to question each requirement, (1) focusing on why, not just how, (2) learning
differential analysis techniques to use in accounting problems, and (3) drawing conclusions
that test your understanding of the issues discussed in the course. One of the goals is to foster a
critical thinking mindset to help equip you to cope with the rapidly evolving accounting
environment.
COURSE MATERIALS
• Financial and Managerial Accounting 17th Edition, Williams, Haka, Bettner, Carcello.
Publisher McGraw-Hill
•
Connect – Connect Accounting Plus is packaged free with the textbook if the textbook is
purchased through the university or Tiger bookstore. With Connect Accounting Plus, you
also get 24/7 online access to an eBook – an online edition of the text – to aid you in
successfully completing your work, wherever and whenever you choose. What’s included is
an access code you’ll need to register with Connect. The “Plus” means it also includes the
electronic version of the textbook.
INSTRUCTIONAL ASSISTANCE
• Tutoring is offered free on the second floor of the Fogelman Business building in the ESP
Business Learning Center, room 256. Hours are posted on the door.
• Work the self-study quizzes throughout the chapters (answers are provided). Additional
questions are provided on the book website under “Student Edition”:
http://highered.mcgraw-hill.com/sites/0073379336/student_view0/index.html
• Examples of all end-of-chapter material for which you will be held responsible will be
worked in class.
• My office hours are listed above. If you are struggling with the class material, please come
by the office or make an appointment to meet with me. Should you get stuck on a
homework problem, feel free to email me so I can offer assistance. I am here to help you
succeed!
GRADING
On eCourseware, you will find your scores under the following specific headings:
Points
Possible
Quizzes
(online under Quizzes on ecourseware)
40
Homework
60
GUDS
36
Final Project
50
Exams
300
2
Total Possible Points
486 (Graded out of 480)
Your final grade will be determined based on the total points out of 509 earned, as follows:
A+ = 478 or above
A = 432 – 477
B = 384 – 431
C = 336 – 383
D / F= 335 or below
I DO NOT USE A +/- GRADING SCALE except at my discretion and as listed
above.
Class Conduct and Technology Rules:
Computers will not be allowed in class. In the past, computers have been allowed.
However, the temptation to give in to distractions like internet and email has proven too
great. If you use the eBook, you will need to print the pages or slides prior to class.
Cell phones will not be allowed in class. Should I see you using a cell phone (texting,
talking, playing with it…), you will lose the GUDS for that day and your cell phone will be
confiscated until the end of class!
Students will LOSE the GUDS points of the day if they disrupt the class in any way, such as
talking excessively, using a cell phone, or other similar distracting behavior.
Quizzes:
Quizzes are attached to each of the 20 chapters covered in eCourseware. These quizzes
vary in length depending on the chapter. Each set of questions is worth 2 points (of a total of
40 points). Be sure to pay attention to the schedule, as the quiz questions will close
according to the schedule below. You will have two chances to take the quiz. Incorrect
answers are listed after the quiz is submitted, and the highest score is recorded. The quizzes
have end dates and will not be available after the end date! You should be able to find
the answers to all quiz questions in the text, but you may use any legitimate source in doing
so. However, do not collaborate with any other person. Do your own work!
Homework:
Homework assignments are attached to each chapter in Connect. Chapter points are worth 3
points each for total possible points of 60. Be sure to pay attention to the schedule, as the
homework questions will close according to the schedule below. You will have unlimited
chances to work the assignments up until the close date with the highest score counting. As
with quizzes, these have end dates and will not be available after the end date!
GUDS:
Beginning January 21, attendance will be taken each period by means of the GUDS. Each
period will begin with a lecture of the day’s topic, followed by working select end-of-chapter
material. Most classes will include class work entitled GUDS (Greater Understanding
DeviceS) that will be worked in class and handed in for 3 points. These will always be open
book and open notes. The GUDS will be checked to make sure you attempted to solve the
problem. However, the material will not be graded. You will receive the 3 points as long as
you make a serious attempt and are present to turn in the class work. The GUDS will be
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reviewed at the beginning of the next class. If you are not present, you cannot make up
the GUDS unless you are on a school-sanctioned trip. To allow for those “unexpected”
absences, 6 extra points are included in the total possible points. If you hand in all the
GUDS, complete all the Connect assignments correctly and answer all the quizzes correctly,
the extra points will be treated like bonus points as long as you make at least a 65 average
on your exams.
Final Project:
The final project will be a presentation in class during the final exam time. You will be
provided more information later in the semester.
Exams:
There will be three exams worth 100 points each. There will be mock exams to practice as
many times as you can before each exam to assist you in preparing. The mock exams will be
loaded on Connect.
Academic Integrity:
Expectations for academic integrity and student conduct are described in detail on the
website of the Office of Student Judicial and Ethical Affairs
(http://saweb.memphis.edu/judicialaffairs ) and under “Getting Started.”
This schedule is tentative and can be changed at the discretion of the instructor.
Date
Course Schedule
Jan 21
Chapter 1; Accounting Information for Decision Making
Read the chapter, answer Ch 1 quiz, and work required assignment in
Connect Ch 1. Ch 1 due Jan. 28th
Jan 21
Chapter 2; Basic Financial Statements
Read the chapter, answer Ch 2 quiz, and work required assignment in
Connect Ch 2. Ch 2 due Feb. 4th GUDS1
Jan. 28
Chapter 2, cont.; Basic Financial Statements
Read the chapter, answer Ch 2 quiz, and work required assignment in
Connect Ch 2. Ch 2 due Feb. 4th
Jan. 28
Chapter 3; The Accounting Cycle: Capturing Economic Events
Read the chapter, answer Ch 3 quiz, and work required assignment in
Connect Ch 3. Ch 3 due Feb. 7th GUDS2
Feb. 4
Chapter 3, cont.; The Accounting Cycle: Capturing Economic Events
Read the chapter, answer Ch 3 quiz, and work required assignment in
Connect Ch 3. Ch 3 due Feb. 7th
Feb. 4
Chapter 4; The Accounting Cycle: Accruals and Deferrals
Read the chapter, answer Ch 4 quiz, and work required assignment in
Connect Ch 4. Ch 4 due Feb. 10th GUDS3
4
Feb. 11
Chapter 5; The Accounting Cycle: Reporting Financial Results
Read the chapter, answer Ch 5 quiz, and work required assignment in
Connect Ch 5. Ch 5 due Feb. 13th GUDS4
Feb. 11
Review for Exam 1 – Chs. 1-5
2/13-2/18 EXAM 1 On eCourseware – open 2/13 – 2/18.
Feb. 18
Chapter 7; Financial Assets
Read the chapter, answer Ch 7 quiz, and work required assignment in
Connect Ch 7. Ch 7 due Feb. 24th GUDS5
Feb. 25
Chapter 8; Inventories and the Cost of Goods Sold
Read the chapter, answer Ch 8 quiz, and work required assignment in
Connect Ch 8. Ch 8 due March 1st
Feb. 25
Chapter 9; Plant and Intangible Assets
Read the chapter, answer Ch 9 quiz, and work required assignment in
Connect Ch 9. Ch 9 due March 4th GUDS6
Mar. 4
Chapter 11; Stockholders’ Equity: Paid-In Capital
Read the chapter, answer Ch 11 quiz, and work required assignment in
Connect Ch 11. Ch 11 due March 8th
Mar. 4
Chapter 12; Income and Changes in Retained Earnings
Read the chapter, answer Ch 12 quiz, and work required assignment in
Connect Ch 12. Ch 12 due March 17th GUDS7
Mar. 11
SPRING BREAK – NO CLASS
Mar. 18
Chapter 13; Statement of Cash Flows
Read the chapter, answer Ch 13 quiz, and work required assignment in
Connect Ch 13. Ch 13 due March 21st
Mar. 18
Chapter 14; Financial Statement Analysis
Read the chapter, answer Ch 13 quiz, and work required assignment in
Connect Ch 13. Ch 13 due March 24th GUDS8
Mar. 25
Review for Exam 2 – Chs. 7-9, 11-14
Mar. 25
EXAM 2 (NO CLASS). On eCourseware – open 3/22 – 3/29.
Apr. 1
Chapter 16; Management Accounting: A Business Partner
Chapter 19; Costing and the Value Chain
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Read the chapter, answer Ch 16 & 19 quizzes, and work required
assignment in Connect Ch 16 / 19. Ch 16 / 19 due Apr. 5th
Apr. 1
Chapter 20; Cost-Volume-Profit Analysis
Read the chapter, answer Ch 20 quiz, and work required assignment in
Connect Ch 20. Ch 20 due Apr. 8th GUDS9
Apr. 8
Chapter 21; Incremental Analysis
Read the chapter, answer Ch 21 quiz, and work required assignment in
Connect Ch 21. Ch 21 due Apr. 12th
Apr. 8
Chapter 23; Operational Budgeting
Read the chapter, answer Ch 23 quiz, and work required assignment in
Connect Ch 23. Ch 23 due Apr. 15th GUDS10
Apr. 15
Chapter 25; Rewarding Business Performance
Read the chapter, answer Ch 25 quiz, and work required assignment in
Connect Ch 25. Ch 25 due Apr. 19th
Apr. 15
Chapter 26; Capital Budgeting
Read the chapter, answer 26 quiz, and work required assignment in
Connect Ch 26. Ch 26 due Apr. 23rd GUDS11
Apr. 22
Chapter 26, cont; Capital Budgeting
Read the chapter, answer 26 quiz, and work required assignment in
Connect Ch 26. Ch 26 due Apr. 23rd GUDS12
Apr. 22
Review for Final Exam. Work on Final Project. (No Class)
Apr 29
FINAL EXAM (NO CLASS). – on eCourseware – open 4/24– 5/2.
Work on Final Project
May 6
Final Project – Presentations (Time to be decided)
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