BMGT 220 - PRINCIPLES OF ACCOUNTING I – SPRING SEMESTER 2010
DEPARTMENT OF ACCOUNTING AND INFORMATION ASSURANCE
INSTRUCTOR:
Dr. Progyan Basu
OFFICE HOURS:
Tuesdays and Thursdays 11 am to 1 pm and 5 pm to 6 pm
You do NOT need an appointment to see me during office hours.
(301) 405-4042 (please send email instead of leaving voicemail)
pbasu@rhsmith.umd.edu
I will try to respond to all relevant emails sent to this email address within a 48 hour period. If you email
me a question, and do not hear back within that time, it is probably because the answer is available in the
course syllabus / Blackboard announcement, or because I did not receive your email.
For help with administrative issues, please email the Administrative Teaching Assistant (see below).
If you have specific questions about course materials or assigned homework – please see me or the TAs
during our office hours.
OFFICE PHONE:
EMAIL:
ADMINISTRATIVE TEACHING ASSISTANT:
TEACHING ASSISTANTS:
Rita Geller (mgeller1@mail.umd.edu)
Alex Sukhareva (asukhare@mail.umd.edu)
Nicholas Zemil (nzemil@mail.umd.edu)
TA OFFICE:
OFFICE: Van Munching Hall 4333R
Steven Hall (shall88@mail.umd.edu)
Kourtney Johnson (kortjj@mail.umd.edu)
Kevin Wieczynski (kevinw@mail.umd.edu)
Le Zhang (lezhang@mail.umd.edu)
Van Munching Hall 4332 B TA Office Phone: 301-405-0963 or 301-405-2248 (NO VOICEMAIL)
TA OFFICE HOURS:
Mondays
12 noon to 5 pm
Tuesdays
11 am to 12:30 pm and 1 pm to 2:30 pm
Wednesdays
12 noon to 5 pm
Thursdays
11 am to 12:30 pm and 1 pm to 2:30 pm
Fridays
10 am to 1 pm
Feel free to see any of the TAs during the above office hours, not just your assigned TA.
COURSE OBJECTIVE: This is the first course in Principles of Accounting. It will cover the basic financial accounting
concepts and principles. The primary goals for the course are to:
 Develop an understanding of the accounting process and to summarize and communicate information useful in making
economic decisions.
 Familiarize students with the preparation, analysis, and interpretation of financial statements.
The knowledge and skills you will develop in this class will be useful for all business disciplines. Whether your future
career goals relate to Finance, Marketing, Management or any other area, Accounting will play a very important role in your
professional life. Accounting is the common language of business, and hence is a required course in every business school.
REQUIRED MATERIALS:
Financial Accounting Fundamentals, 2009 Edition (Paperback), by John J. Wild.
Homework Manager Access Code
Required materials are available as a package at the bookstores.
Textbook’s Online Learning Center: http://www.mhhe.com/wildFAF2e
(You may purchase the Homework Manager Access code at the Online Learning Center)
COURSE WEBSITE:
bb.rhsmith.umd.edu - the website is where you will download class notes, copies of past exams,
and also view your grades. Folders for various resources will be posted under Course Documents. The posted lecture notes (in the
form of powerpoint files) will have important information missing. I recommend you print out the class notes before you come
to class, so you do not have to copy down everything - only the missing information. The User Name and Password for
Blackboard is your university-issued ID and password. Please feel free to use the Blackboard Discussion Board to exchange
questions, comments and concerns about BMGT 220. I reserve the right to moderate, and remove objectionable postings.
CLASS STRUCTURE: Class sessions will be structured in a lecture/problem solving format. You are expected to participate in
class discussions, and strongly encouraged to ask questions as we proceed through the material. You are also responsible for all
materials included in the class notes (powerpoint slides), some of which may not be specifically covered in class due to lack of
time. Material from the chapter appendices will be covered in class only if specifically mentioned in the attached Schedule of
Assignments.
GRADE DETERMINATION:
Your final course grade will be calculated as follows:
Midterm Exam 1
240 points
Midterm Exam 2
240 points
Comprehensive Final Exam
320 points
In-Class (Friday) Quizzes
100 points
Homework Manager Assignments
100 points
TOTAL AVAILABLE
1,000 POINTS
Semester letter Grades (A,B,C,D,F, including pluses and minuses) will be assigned based on distributions of the historical grade data
for BMGT 220 (available at http://www.ourumd.com/class/BMGT220).
MIDTERM and FINAL EXAMINATIONS: Two Midterm Exams (duration: 75 minutes each) and a comprehensive Final Exam
(duration: 2 hours) will be given during the semester. Midterm Exams 1 and 2 will consist of 24 multiple choice questions (6 questions
each from the 4 chapters covered), and the Comprehensive Final exam will consist of 32 multiple choice questions(1 question each from
Chapters 1 thru 8, and 6 questions each from Chapters 9 thru 12).
The 2 Midterm examinations will be given from 5:30 pm to 6:45 pm on the scheduled dates listed on the attached Assignment
Schedule, and exam locations will be announced on Blackboard. Students having conflict with the scheduled exam times will be allowed
to take the exam during the normal class time (2 pm to 3:15 pm or 3:30 pm to 4:45 pm) on the same day. The Midterm exams will not
be given either on an earlier or a later day.
Midterm/Final Examination guidelines:
1. You will be required to show your UMCP ID when you turn in your exams.
2. No student will be allowed to sit for an examination 15 minutes after the start of the exam.
3. After an exam has started, you will not be allowed to leave the exam room without submitting your completed exam. Be sure to
attend to your personal needs before the exam begins.
4. Basic 5-function calculators are permitted. Calculators are NOT to be shared during exams and quizzes. You will NOT be allowed
to use any programmable calculators/ cell phones/ personal digital assistants/ iPhones/ Blackberries during any of the
quizzes/exams. Anyone found using any such device during quizzes/exams will be considered to have violated University of
Maryland’s Code of Academic Integrity.
5. All exams will consist of Multiple Choice questions, and you will be required to record your answers on Scantron sheets (provided
during the exams) using No. 2 pencils (NOT provided - you must bring your No. 2 pencils). Students will be allowed to keep their
exam booklets, and are encouraged to record their answers on the exam booklets. The answer keys to the exams will be posted on
Blackboard after the exams are completed. Makeup exams and answer keys to makeup exams are NOT posted on Blackboard.
University of Maryland Make-up Examination policy: University of Maryland recognizes that there are legitimate circumstances
which may prevent a student from taking an exam. They include: (1) documented illness, (2) religious observance, (3) participation in a
university activity at the request of a university official, (4) compelling circumstances beyond the student’s control. When possible, a
student should notify the instructor well in advance of the absence. If prior notification is not possible, the student should contact the
instructor as soon as possible afterwards. When any of the above situations occur, the student will be approved for taking the Makeup
Examination. No makeup exams will be given without prior approval. The make-up exam will cover the same material as the original
exam, but different questions will be used to ensure the integrity of the exam. All make-ups for Midterm Exams 1 & 2 will be given on
WEDNESDAY, MAY 12 at 2 pm (location to be announced on Blackboard).
ACCOMODATIONS FOR STUDENTS WITH SPECIAL NEEDS: Any student with special needs should bring this to the attention of
the instructor as soon as possible, but no later than the second week of class.
INCLASS QUIZZES: Quiz questions will be administered during your Friday breakout sessions. The total points offered for In-Class
Quizzes will be 120 points (10 points per chapter) – however, the maximum points a student may earn in this category is 100 points.
This slack is provided to accommodate for classes that you are forced to miss due to illness, religious observance, death in the
family, late registration for class, or any other reason beyond your control. In class quizzes are based on class participation, and
hence no alternative assignments are available.
HOMEWORK MANAGER: All Homework must be submitted electronically through Homework Manager at the following
URL: http://mh4.brownstone.net/classes/Prin_Acct_Basu/
You must register and activate your account at the above website before you start your homework. The Homework Manager will grade
your homework, and you will be able to print out the work done. The Homework Manager Assignments for each chapter will be
available from 5 pm on Tuesday (of the week the chapter is covered in class) until 8 am on the following Tuesday. The Homework
MUST be completed before the assignment deadline, and NO LATE WORK WILL BE ACCEPTED. I strongly recommend you
complete your Homework Manager Assignments early - technical issues will not be accepted as excuses for students who wait
until close to the deadlines. The total points offered for Homework Manager Assignments will be 120 points (10 points per chapter) –
however, the maximum points a student may earn in this category is 100 points. This slack is provided to accommodate for
homework that you are unable to complete (or are not graded by Homework Manager) due to technical glitches, your illness,
religious observance, death in the family, late registration for class, or any other reason beyond your control. The Homework
Manager software does NOT allow us to extend deadlines for any reason – so please do not request a deadline extension.
INSTRUCTIONS FOR HOMEWORK MANAGER:
To create a student account, follow these directions:
1)
Go to http://mh4.brownstone.net/classes/Prin_Acct_Basu/
2)
Click on the "Register as a student" link on the student menu found on your course homepage.
3)
4)
6)
Enter the 20 digit code in the boxes on the Student Registration page, and click the next button
Note: The code is case sensitive; please enter the codes in upper case letters.
Fill out the Student Registration form that appears and click the "OK" button.
Make sure to enter your First and Last Names as they appear on University of Maryland records
Make sure you correctly enter your UID # (VERY IMPORTANT – you will not receive credit if incorrect).
Click the "OK" button to confirm your account.
If you have difficulty, please call McGraw Hill’s Technical Support Line at 1-800-331-5094.
SOME IMPORTANT POINTS TO REMEMBER FOR HOMEWORK MANAGER:
1)
YOU WILL ONLY GET ONE ATTEMPT TO SUBMIT YOUR HW ASSIGNMENT, so you should do the homework
assignment on paper before submitting your answers online.
2)
You can only do one thing at a time. You cannot view past results while you are in the process of taking an assignment. You
cannot take two graded assignments at the same time.
3)
Use the "Next", "Back", "Jump To", and “Save my work” buttons periodically to save and avoid timing out. If there is no
activity within 60 minutes, Homework Manager will automatically log out your session.
4)
Click "Quit and Save" if you wish to work on your assignment at a later time without grading. Remember, you can only work
on one open, ungraded assignment at one time.
5)
Don't copy and paste, as this might enter illegal characters in your homework and prevent you from getting a grade.
STUDENT REQUIREMENTS AND RESPONSIBILITIES: ACCOUNTING IS A CUMULATIVE SKILL. Each topic builds on
concepts, principles, and techniques previously covered. It is your responsibility to read text materials and attempt to complete
homework assignments PRIOR to attending class. You are strongly encouraged to go over the Demonstration Problems at the end of each
chapter before starting your Homework. Also, the suggested solutions to ALL end of chapter Quick Study questions will be provided on
Blackboard for additional help. Successful performance in this course requires a significant, consistent time commitment. It is
important to note that it is extremely difficult to perform satisfactorily if you fall behind.
ACADEMIC INTEGRITY: The University of Maryland's Code of Academic Integrity is designed to ensure that the principles of
academic honesty and integrity are upheld, and ALL students are expected to adhere to this Code. The Smith School does not tolerate
academic dishonesty, and all acts of academic dishonesty will be dealt with in accordance with the provisions of this code. Please visit
the following website for more information : http://www.studenthonorcouncil.umd.edu/code.html.
On each exam, you will be asked to write out and sign the following pledge. "I pledge on my honor that I have not given or received any
unauthorized assistance on this exam/assignment."
IMPORTANT REMINDER ABOUT GRADES: Grades for all Friday breakout section quizzes, Homework Manager Assignments, and
Midterm Exams will be posted on Blackboard by the end of the week following the quiz/homework assignment/exam. It is the student’s
responsibility to make sure that his/her grade is correctly reported on Blackboard. If a grade is missing or incorrect, please send an email
to our Administrative Teaching Assistant Steven Hall : shall88@mail.umd.edu
All missing/inconsistent grades MUST be resolved before 5 pm, Wednesday, May 12. All grades (except Final Exam Grade)
reported on Blackboard as of 5 pm on Wednesday, May 12, will be final, and no adjustment will be made after that date.
COURSEEVALUM SPRING 2010: Your participation in the evaluation of courses through CourseEvalUM is a responsibility you hold
as a student member of our academic community. Your feedback is confidential and important to the improvement of teaching and
learning at the University as well as to the tenure and promotion process. CourseEvalUM will be open for you to complete your
evaluations for spring semester courses during the last two weeks of the semester. Please go directly to the website
(www.courseevalum.umd.edu) to complete your evaluations.
SCHEDULE OF ASSIGNMENTS: The following is a tentative plan for the course. Deviations, if necessary, will be announced in
class/ by coursemail /on Blackboard. You are responsible for keeping informed of all relevant announcements regarding the class
made on Blackboard.
Tuesday, January 26
Overview of Course / Registration for Homework Manager
Chapter 1 (Introducing Financial Accounting)
Thursday, January 28
Exercises 1-6, 1-8 Problems 1-1A, 1-7A, 1-9A
Tuesday, February 2
Thursday, February 4
Chapter 2 (Accounting for Transactions)
Exercises 2-2, 2-6, 2-13, 2-14, Problem 2-3A
Tuesday, February 9
Thursday, February 11
SNOW DAY – CLASSES CANCELED
SNOW DAY – CLASSES CANCELED
Tuesday, February 16
Thursday, February 18
Chapter 3 (Preparing Financial Statements)
Exercises 3-2, 3-3, Problems 3-1A, 3-2A
Tuesday, February 23
Thursday, February 25
Friday, February 26
Question – Answer Session for Midterm Exam 1
5:30 to 6:45 pm (Locations to be announced on Bb): MIDTERM EXAM 1 (Chapters 1 – 3)
Breakout sections will NOT meet (TAs will be available to review Midterm Exam 1 in TA office)
Tuesday, March 2
Thursday, March 4
Chapter 4 (Accounting for Merchandising Operations)
Exercises 4-4, 4-5, 4-8, 4-9, Problems 4-1A, 4-2A
Tuesday, March 9
Thursday, March 11
Chapter 5 - Accounting for Inventories
Problems 5-1A, 5-2A, 5-3A, 5-4A
Tuesday, March 16
Thursday, March 18
SPRING RECESS – NO CLASS
SPRING RECESS – NO CLASS
Tuesday, March 23
Thursday, March 25
Chapter 7 (Accounting for Receivables)
Exercises 7-3, 7-4, Problems 7-2A, 7-3A, 7-5A
Tuesday, March 30
Thursday, April 1
Chapter 8 (Accounting for Long-Term Assets)
Exercises 8-17, Problems 8-1A, 8-3A, 8-5A, 8-6A
Tuesday, April 6
Thursday, April 8
Friday, April 9
Question – Answer Session for Midterm Exam 2
5:30 to 6:45 pm (Locations to be announced on Bb): MIDTERM EXAM 2 (Chapters 4,5,7,8)
Breakout sections will NOT meet (TAs will be available to review Midterm Exam 2 in TA office)
Last day to drop class with a “W”
Tuesday, April 13
Thursday, April 15
Chapter 9 (Accounting for Current Liabilities)
Exercises 9-3, 9-6, 9-7, 9-8, Problems 9-2A, 9-4A, 9-5A
Tuesday, April 20
Thursday, April 22
Chapter 10 (Reporting and Analyzing Long Term Liabilities)
Appendix 10A – Present value of Bonds and Notes
Exercises 10-8, P 10-1A, 10-3A, 10-5A, 10-8A
Tuesday, April 27
Thursday, April 29
Chapter 11- Accounting for Equity
Exercises 11-7, 11-8, 11-12, Problems 11-2A, 11-4A
Tuesday, May 4
Chapter 12 – Accounting for Cash Flows
Appendix 12B – Direct Method of Reporting Operating Cash Flows
Exercises 12-5, 12-6, P 12-1A, 12-3A, 12-4A
Thursday, May 6
Tuesday, May 11
Question – Answer Session for Final Exam
Saturday, May 15 (10:30 am to 12:30 pm): COMPREHENSIVE FINAL EXAMINATION (Chapters 15,7-12)
The time and date of the common final exam for BMGT 220 is set by the University of Maryland Registrar’s Office and will not
be changed (http://www.testudo.umd.edu/soc/exam201001.html ). Note that the time for common final exams does not depend on
the hour or day at which the particular section meets. The locations for Final exam will be announced on Blackboard.
More than Three Final Examinations on the Same Day: Students whose class schedule requires them to take more than three final
examinations on the same day have the right to reschedule examinations so they have no more than three on a given day. The student
must take responsibility for initiating the rescheduling and be responsible for taking the examinations as scheduled. The Alternate Final
Exam will be given on WEDNESDAY, MAY 12 at 2 pm (locations to be announced on Blackboard)..