JOHNS HOPKINS UNIVERSITY
CENTER FOR LEADERSHIP EDUCATION
THE WILLIAM P. CAREY PROGRAM IN ENTREPRENEURSHIP AND MANAGEMENT
FINANCIAL ACCOUNTING, 660.203.02, SPRING 2010
TTH 10:30-11:45am
Shaffer 2
INSTRUCTOR:
Annette Leps, CPA, MBA
Center for Leadership Education
Rm. 102, Whitehead Hall, x 7113
Email: aleps@jhu.edu
Office Hours:
MON
11AM to Noon
TUES
1:30 to 2:30 PM
WED
Noon to 1PM
& by appointment
COURSE ASST:
Megan Wei (megan.wei@jhu.edu)
Office Hours: TBA
COURSE DESCRIPTION:
The course in Financial Accounting is designed for anyone who could be called upon to analyze
and/or communicate financial results and/or make effective financial decisions in a for-profit business
setting. No prior accounting knowledge or skill is required for successful completion of this course.
Because accounting is described as the language of business, this course emphasizes the vocabulary,
methods, and processes by which all business transactions are communicated. The accounting cycle,
basic business transactions, internal controls, and preparation and understanding of financial
statements including balance sheets, statements of income and cash flows are covered.
REQUIRED TEXT:
Libby, Libby & Short, Financial Accounting, 6th edition, 2009, McGraw-Hill/Irwin. ISBN 978-0-07352688-1.
COURSE OBJECTIVES:
This course seeks to provide the undergraduate business student with a foundation in financial
accounting. Upon completion of this course, the student will be fully capable of analyzing basic
financial statements. Specifically, a student who successfully completes this course should be capable
of analyzing:
a. Business transactions for proper accounting
b. The accounting cycle
c. Elements of profit and loss
d. Financial assets,
e. Inventories
f. Plant assets
g. Liabilities
h. Changes in equity
i. Cash flows
STUDENT RESPONSIBILITIES & CLASS POLICIES:
(1) This is a rigorous course. As such, class attendance is vital to the successful completion of this
course. Students are expected to come to class having read the chapter material referenced.
(2) Students are expected to take all examinations and to complete all assignments on the required
dates. Conflicts or other issues must be brought to the attention of the instructor before the
scheduled test time. Make-up exams may be arranged only at the discretion of the instructor
and the Department.
(3) Short in-class and take home quizzes covering lectures and homework materials will be given
over the course of the semester. There will be no opportunity for students to make up missed
quizzes. However, the two lowest quiz grades will not be used in the grade calculation.
(4) This course is on WebCT. The site will be used to deliver homework solutions, special
instructional information, course announcements, and other items of student interest. Please
monitor the course site regularly. Individual grades will be posted on WebCT and any
discrepancies must be brought to the attention of the CA for resolution before April 29, 2010.
(5) It is the responsibility of the student to obtain notes and assignments from colleagues for any
classes that were missed.
(6) Non-graphing, non-programmable calculators are permissible for use during all exams and
quizzes.
(7) Calculators and the American Eagle 2006 Annual Report should be brought to class. The
American Eagle Annual Report should be downloaded from the web (http://phx.corporateir.net/phoenix.zhtml?c=81256&p=irol-reportsannual) if not purchased with the textbook.
(8) No Senior Options will be offered.
COLLEGE POLICY REGARDING STUDENT DISABILITIES:
If you have a disability that requires special testing accommodations or other classroom
modifications, please present a letter from Dr. Richard Sanders (Director of Academic Advising
in Arts & Sciences) stating the disability and the exact accommodations needed. I will do my best
to accommodate you in any way. Please do not be shy about coming forward.
ACADEMIC ETHICS
The strength of the university depends on academic and personal integrity. In this course you
must be honest and truthful. Ethical violations include cheating on exams, plagiarism, reuse of
assignments, improper use of the Internet and electronic devices, unauthorized collaboration,
alteration of graded assignments, forgery and falsification, lying, facilitating academic
dishonesty, and unfair competition.
Report any violations you witness to the instructor. You may consult the Associate Dean of
Student Affairs and/or chairman of the Ethics Board beforehand. See the guides on “Academic
Ethics for Undergraduates and Ethics Board Website (http://ethicsjhu.edu) for more information.
EVALUATIONS:
A 90-100
B
80-89
C
70-79
D 60-69
F
Below 60
Pluses and minuses will be used at the discretion of the instructor.
GRADING:
Test 1
Test 2
Test 3
Final Exam
Class attendance, participation, & homework quizzes
Total
20%
20%
20%
30%
10%
100%
SECOND CHANCE POLICY:
The material for the course builds on itself; therefore, it is important to master the material from
the earlier chapters to be able to understand the content of the later chapters. Given this situation,
if your final exam grade is higher than your lowest test grade, the final exam grade will substitute
for that test grade. In other words, the final would be weighted 50%. The weights of other tests,
class participation, attendance, and homework quizzes would remain the same.
The Instructor reserves the right to change topics and assignments as needed depending
upon class progress.
JOHNS HOPKINS UNIVERSITY
FINANCIAL ACCOUNTING
Date
1/26
1/28
2/2
2/4
2/9
2/11
2/16
2/18
2/23
2/25
3/2
3/4
3/9
3/11
3/16 and
3/18
3/23
3/25
Subject
Ch.
Exercises
Financial Statements & Business
Decisions
Financial Statements & Business
Decisions
1
E1-3
1
E1-6, E1-7, P1-1
Investing & Financing Decisions &
the Balance Sheet
Investing & Financing Decisions &
the Balance Sheet
2
M2-4, M2-6, E2-3, P2-1, M2-3, M2-5
2
E2-5, E2-12, P2-2, M2-1, M2-2
Operating Decisions & the Income
Statement
Operating Decisions & the Income
Statement
3
E3-2, E3-3, E3-4, E3-5
3/4
E3-6, E3-7, P3-1, P3-7
Adjustments, Financial Statements,
& the Quality of Earnings
Adjustments, Financial Statements,
& the Quality of Earnings
4
M4-4, M4-5, M4-6, M4-7, E4-6, E4-7
4
E4-8, P4-2, E4-17, E4-18, E4-19
Communication & Interpreting
Accounting Information
TEST #1 (THROUGH CH.4)
5
E5-1, E5-2, E5-5, E5-6, E5-11, P5-8
Reporting & Interpreting Sales
Revenue, Receivables, & Cash
Reporting & Interpreting Sales
Revenue, Receivables, & Cash
6
E6-1, E6-2, E6-6, E6-7
6
E6-8, E6-14, AP6-1, AP6-3
Reporting & Interpreting Costs of
Goods Sold & Inventory
Reporting & Interpreting Costs of
Goods Sold & Inventory
7
M7-5, E7-1, E7-5, E7-9, AP7-1, M7-7,
M7-8
E7-4, E7-7, E7-12,E7-14, M7-9, E7-18,
E7-19
7
SPRING BREAK
Reporting & Interpreting Property,
Plant, & Equipment, Natural
Resources, & Intangibles
TEST #2 (THROUGH CH. 7)
8
M8-4, M8-5, M8-6, E8-1, E8-8, E8-2,
E8-10
3/30
4/1
Reporting & Interpreting Property,
Plant, & Equipment, Natural
Resources, & Intangibles
Reporting & Interpreting Liabilities
4/6
Reporting & Interpreting Liabilities
4/8
Reporting & Interpreting Bonds
9/10
4/13
4/15
Reporting & Interpreting Bonds
Reporting & Interpreting Bonds
10
10
M10-2, M10-3, M10-6, E10-5, E10-12
M10-4, M10-5, M10-7, E10-13,
E10-15, E10-16, P10-2, AP10-7
4/20
Reporting & Interpreting Owners’
Equity
TEST #3 (THROUGH CH. 10)
11
M11-9, M11-10, E11-8, E11-9, E11-13,
E11-21
Reporting & Interpreting Owners’
Equity
Statement of Cash Flows
11
E11-18, P11-2
13
E13-1, M13-1, E13-6, E13-8, E13-13,
E13-14
4/22
4/27
4/29
5/11
9am to
noon
CUMULATIVE FINAL EXAM
8
E8-11, E8-13, E8-16
9,
p.726
E9-2, E9-4, E9-6, E9-15, E9-16, E9-18,
E9-19
9
M9-7, M9-8, M9-9, M9-10, M9-11,
AP9-6
E10-1, M10-2, M10-3, M10-6, E10-5,
E10-12