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m o d e l
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evening classes
MBA 500
Financial Accounting
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Benedictine Hallmarks 2011-2012
STABILITY  STEWARDSHIP
IDEA
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course syllabus
Addresses the educational
needs of adult students by
developing and providing
engaging, relevant and
accelerated programs.
blended model
MBA 500
Enhances scholarship,
leadership skills, social
responsibility, and promotes
life-long learning.
Provides high-quality, easily
accessible educational
opportunities for adult
learners.
Enables adults to earn
specific undergraduate and
graduate degrees while
maintaining their personal and
professional commitments.
Financial Accounting
instructor version
Develops new degree and
non-degree programs that
address the expressed needs of
the professional community.
content links index
about this document
about Moser College
about blended learning
hallmarks of a Benedictine education
student expectations
attendance policy
financial aid
submission of work
library resources
services for students with disabilities
Academic Honesty Policy
APA formatting and style
netiquette
course overview
required textbooks
grading scale
IDEA objectives
IDEA description
learning outcomes
course schedule
Moser College Mission
Statement: Moser College
embodies the values of respect,
excellence, collaboration, and
professionalism. We are
committed to delivering
innovative and dynamic
programs designed for adult
students who are dedicated to
enhancing their professional,
local, and global communities.
Moser College Vision
Statement: To be one of the
premier university colleges in
the nation.
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience
Discipline  Humility  Stewardship  Hospitality  Community
Benedictine
University
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expectations
Margaret and Harold Moser Center
1832 Centre Point Circle
Naperville, IL 60563
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Phone: (630)schedule
829-6289&
IDEA
sessions
Fax: (630) 829-1375
moser college mission and vision
2
Content Links
MBA 500 Financial Accounting
About Your Program at Benedictine University – Moser College
About This Document
This is a hypermedia document – it has been built to mimic navigation on the
web. This document can also be viewed as a presentation or it can be printed
like a traditional document. We use this sort of document because it allows for
navigation links (hyperlinks) to text, graphics, audio/video, and the web. This
type of document also allows you to navigate in a nontraditional, nonlinear way
– by following the page links you are not bound to read or flip through the
document in any sort of order. This is yet another example of Moser College’s
commitment to advancements in technology and blended learning.
About Moser College
The Moser College of Adult & Professional Studies delivers its curricular
programs in a specifically designed structure deliberately oriented for working,
adult learners. The Moser College is committed to providing a learning
environment which extends beyond the classroom and is designed specifically
to meet the needs of its students and their employers by bringing a quality
educational experience without requiring the student to relocate or travel
extensively beyond their home area. Benedictine University's Moser College of
Adult & Professional Studies is fully accredited by the Higher Learning
Commission of the North Central Association of Colleges and Schools*.
* web path
Benedictine Univ
Academic Programs
Moser College
About Blended Learning
Blended learning is the integration of different learning environments: mainly the
online format with the face-to-face format, but may also include mobile learning.
Blended learning, also referred to as hybrid learning, relies on both the advantages
of digital/technology innovation and the methods of face-to-face instruction. At
Moser College, we use blended learning by combining asynchronous online
classroom sessions with a face-to-face classroom environment. We alternate
between the online session and the face-to-face session in 5-week courses, with
the A session being face-to-face and the B session being online.
hallmarks of a Benedictine Education:
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3
About
MBA 500 Financial Accounting
The Ten Hallmarks of a Benedictine Education
A Benedictine Education
Based on the Rules of Saint Benedict, a Benedictine
Education is based on the Benedictine Wisdom
Tradition that sets as its goals the transformation of the
Human mind AND Heart and has at its foundation “The
Ten Hallmarks of a Benedictine Education”.
The Ten Hallmarks
Each academic year Moser College will be celebrating
two of the Hallmarks. This academic year 2011-2012,
the Hallmarks Stability and Stewardship have been
chosen. The ten hallmarks are:
1. Love of Christ and Neighbor
2. Prayer: a Life marked by liturgy, lection and
Mindfulness
3. Stability: commitment to the daily life of this place,
its heritage and tradition
4. Conversatio: the way of formation and
transformation
5. Obedience: a commitment to listening and
consequent action
6. Discipline: a way toward learning and freedom
7. Humility: knowledge of self in relation to God,
others and creation
8. Stewardship: responsible use of creation, culture
and the arts
9. Hospitality: openness to others
10. Community: call to serve the common good
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Portrait (1926) by Herman Nieg
(1849–1928); Heiligenkreuz Abbey, Austria
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
4
Hallmarks
MBA 500 Financial Accounting
Student Expectations
Expectations of Students
In order to get the maximum use of the time available, it is expected that you
will:
•
Read the material to be covered in the class and complete required
assignments prior to attending the class/session;
•
Arrive/login to class/session prepared to participate actively;
•
Be prepared to actively participate in the collaborative activities of each
class/session; and
•
Always feel free to seek additional help from the instructor when the need
arises.
Attendance Policy
Students may not miss more than 25% of the live classroom sessions. Doing so
will result in an F for the course.
financial aid information
Submission of Work
All assignments are to be submitted into Desire 2 Learn (D2L) unless otherwise noted by instructor.
Assignments must be submitted by due date. Any assigned work submitted late for any unexcused
reason will receive a lowered grade. Please refer to your instructor’s late work policy located in D2L.
In the event that you miss an examination for due cause, arrangements must be made with the
instructor for a make-up examination. Important criteria concerning the submission of work:
•
Make-up examinations may differ from the original class examination.
•
Per University policy, assignments cannot be accepted by an instructor after the last day of the course.
•
Only discussions threads posted by 11:59 pm CST on the due date will count for grading purposes.
information concerning netiquette:
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
5
Expectations
MBA 500 Financial Accounting
Financial Aid Information
Applying for Financial Aid
A college education is one of the largest financial investments a family will make. We believe that an education
from Benedictine University will provide valuable returns throughout a student's lifetime. The Office of Financial
Aid is dedicated to helping students and their families make a Benedictine University education affordable. We
view the process of financing an education as a partnership. Although the student and his/her family have primary
responsibility for meeting college costs, Benedictine University, as well as the federal and state governments have
a variety of financial aid programs available to students who need financial assistance.
Types of Financial Aid
Benedictine University's Office of Financial Aid administers a variety of federal, state
and institutional programs of student financial assistance. All financial aid recipients
must maintain satisfactory academic progress in accordance with the published,
"Satisfactory Academic Progress Policy for Financial Aid Recipients.“
•
After completing the financial aid application process, the student will receive a
financial aid award notification letter. The award letter will include the
program(s) that the student is eligible to receive and the award amount(s).
•
Grants/Scholarships - Grants and scholarships are considered to be gift
assistance. This means the awards do not have to be repaid.
•
Loans - Loans are considered to be a form of self-help assistance. Loan programs
provide funds for educational purposes and are paid back with interest.
•
Employment - Part-time jobs on campus are available to students through the
University and Federal Work-Study program. Students working on campus
receive a bi-weekly paycheck.
•
Applying for Financial Aid – All students applying for financial aid are asked to
complete the Free Application for Federal Student Aid (FAFSA).
FAFSA – Free Application for Federal Student Aid
The FAFSA is required for all federal, state (Illinois residents) and Benedictine University need-based assistance.
It should be completed as soon as possible after January 1st. Applying online with FAFSA on the Web at
www.fafsa.gov is faster and easier than using a paper FAFSA. Have your completed U.S. Federal Income Tax
returns readily available when completing the FAFSA. Include Benedictine University's school code:
001767 so the results of your FAFSA application will automatically be sent to our financial aid office. Sign you
FAFSA with a Federal Student Aid PIN. Apply for a PIN at www.pin.ed.gov. If you are providing parent
information, one parent must also sign you FAFSA.
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
6
Financial Aid
MBA 500 Financial Accounting
About Netiquette
What is Netiquette?
"Netiquette" stands for "Internet Etiquette", and refers to the set of practices which help to make the online
experiences pleasant for all involved. As you might expect, netiquette, like other forms of etiquette, is about
courtesy, manners, codes of behavior, protocols and respect. Netiquette primarily focuses on how we interact with
one another online, by being aware of: our use of language, others’ cultural background, conventional norms, and
other behaviors. Below you will find guidelines concerning the basics of online interaction. If it isn’t something you
would say or do in the face-to-face classroom, it is probably inappropriate in the online class as well.
Netiquette Basics
1. Follow the Golden Rule (“One should treat others as one would like others to treat oneself”)
2. Be ethical, fair, tolerant and mindful of others – avoid stereotyping, judgment and prejudice
3. Know the boundaries of particular cyberspaces – what is acceptable in a text or chatroom with friends may
not be appropriate in a classroom or in an online conversation with an instructor
4. Respect the time of others by: 1) using descriptive subject lines, 2) resizing images for the web, 3) providing
links instead of copying and pasting content, 5) using white space by inserting blank lines between paragraphs
and headers and 6) limiting your use of attachments
5. Copy the minimum number of people – it is tempting to send “email” or “message blasts” because it is easier
for the poster, but it is not easier for the reader
Inappropriate Online Usage
1. Avoid “flaming” – flaming is sending offensive, insulting or criticizing messages. This happens more often
online then in face-to-face interaction, because there is an illusion of anonymity.
2. Flaming is neither productive nor appropriate for the learning environment
3. Always avoid flaming when it comes to content and opinions, but also avoid it when it comes to grammar,
punctuation and spelling corrections
4. Avoid using CAPS if possible and never type messages in ALL CAPS – this is considered yelling and is often
seen as a form of aggression
5. Use emoticons ( :) , :( , :-) ) sparingly and avoid the use of JK, BRB, LOL and other text language
Confidentiality and Privacy
1.
2.
3.
4.
Email, messaging and posting are forms of written record and are just as permanent as a letter or document
Do not publicize your own or others’ personal information (such as email, phone numbers, last names etc.)
Respect copyright and cite any and all sources
Do not expect that your communications are private, instead assume all communications are public
For more information please review Netiquette by Virginia Shea
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
7
Netiquette
MBA 500 Financial Accounting
Resources for Success
Benedictine’s Library Resources
Benedictine University Libraries strive to provide the resources for all of your academic and research
needs. Providing access to over 120 databases, 200,000 books and eBooks, and helpful librarians 7
days a week, we are here to assist you in person and online.
The primary mission of the Benedictine University Library is to provide library resources and services
that support the Benedictine University community and meet its academic and research needs. To
support our mission, the Library has made provisions for all students to gain access to important
academic resources through the Benedictine Library Website. As you begin your academic journey
please take note of these key concepts that will affect that access:
•
Entry into academic databases and most Library resources must be made through the Benedictine
Library Website at www.ben.edu/library
•
Within one week of your official enrollment your patron information will be automatically entered
into the library system, where once entered, you will be able to check out books and access
databases
•
When off-campus you will be prompted by authentication software (a proxy server) to provide
your Library ID number and last name to access article databases and request books. This software
proxy server confirms that you are a current Benedictine University student and thus allowed
access
•
Your Library ID number is a combination of the Benedictine Library prefix 2281100 and your
seven-digit student ID number (also called your “b” number). Thus 2281100XXXXXXX is
the Library ID number with X’s being the seven digit student number. This number is prominently
located just below the barcode on your Benedictine ID card
•
For further information on any aspect of Library resources and access please call or write the
Benedictine Library Reference Desk at 630-829-6057 or libref@ben.edu. Please take note of
Library hours and staff directory located on the Library Website under About the Library and feel
free to contact us about any concern or need you might have
additional resources for student success:
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8
Library
MBA 500 Financial Accounting
Resources for Success
University Academic Honesty Policy
The search for truth and the dissemination of knowledge are the central missions of a university.
Benedictine University pursues these missions in an environment guided by our Roman Catholic
tradition and our Benedictine Heritage. Integrity and honesty are therefore expected of all University
students. Actions such as cheating, plagiarism, collusion, fabrication, forgery, falsification,
destruction, multiple submission, solicitation, and misrepresentation are violations of these
expectations and constitute unacceptable behavior in the University community.
To access the complete Academic Honesty Policy, which includes student responsibility, responsibility
and authority of faculty, violations, reporting and communicating, responsibilities of the provost,
appeals, composition of the academic appeals board, procedures of the academic appeals board, and
records, please select the following link: www.ben.edu/ahp
APA Formatting and Style
All course assignments must use APA citation and formatting. This is a
mandatory requirement for all assignments, including discussions, if a
publication or other work is being referenced. For more information on
APA, please see the APA Style section at the website of the American
Psychological Association, linked here: www.apa.org/
APA resources for students: www.apa.org/about/students.aspx
Services for Students with Disabilities
Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act (ADA) of 1990
prohibit discrimination against individuals with disabilities by standing provision of reasonable
accommodations to make programs and activities accessible to qualified individuals with disabilities.
If you have a documented learning, psychological, or physical disability, you may be eligible for
reasonable academic accommodations or services. To request accommodations or services, please
contact the Student Success Center, Krasa Center - 012A, 630-829-6340. All students are expected to
fulfill essential course requirements. The University will not waive any essential skill or requirement
of a course or degree program.
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9
Other Resources
MBA 500 Financial Accounting
Individual Development and Educational Assessment
IDEA Objectives
•
Acquiring skills in working with others as a member of a team.
•
Developing creative capacities (writing, inventing, designing,
performing in art, music, drama, etc.)
•
Gaining a broader understanding and appreciation of intellectual/
cultural activity (music, science, literature, etc.)
•
Developing skill in expressing oneself orally or in writing.
•
Learning how to find and use resources for answering questions or
solving problems.
•
Developing a clearer understanding of, and commitment to, personal
values.
•
Learning to analyze and critically evaluate ideas, arguments, and
points of view.
•
Acquiring an interest in learning more by asking questions and
seeking answers.
IDEA Description
The IDEA student survey focuses on the instructor’s learning objectives for the course and on the
progress each student made toward achieving those objectives. By answering thoughtfully and
honestly, your ratings and comments will be much more helpful – to the instructor, the department
chair, and the dean of the college. As students, you should also know that student ratings and
comments have been used to help evaluate courses and to improve the educational experience at
Benedictine University. The appropriate standard of conduct with respect to student surveys is
thoughtful comments and constructive criticism – respectfully communicated.
A Focus on Learning
“The IDEA Student Ratings system looks at instruction in terms of its endgame. Rather than
emphasizing teaching style or personality, the IDEA system focuses on student learning and the
methods used to facilitate it.” – from the IDEA website: www.theideacenter.org/node/5
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
10
IDEA
MBA 500 Financial Accounting
Faculty Evening Course Overview
Course Description
Concentrates on the preparation, interpretation, and analysis of the balance sheet, income statement,
and statement of cash flows. Emphasizes the rationale for and implications of important accounting
concepts, the selection of alternatively acceptable accounting methods and their varying affects of
valuation and net income determination and reporting. Provides student with an opportunity to
understand the complex accounting data they will receive as operational managers.
Course Materials
Required Textbook and Materials
Libby, Robert, Libby, Patricia A., & Short, Daniel G. (2011).
Financial Accounting (7th ed.). New York, NY: McGraw-Hill/Irwin. ISBN 9780078111020
Students are required to use McGraw-Hill’s Connect® Plus Accounting to complete quizzes and
homework assignments.
Technological Computer Requirements
Students in the Blended program will need: High-speed Internet access; a sound card and speakers;
Windows XP (minimum)/Windows 7 (recommended) or Mac OS X 10.5 or higher; and Firefox 3.6 or
higher. It is also highly recommended that students have access to a microphone or webcam for
optional audio/videoconferencing.
Discussion Forum Guidelines
The Course Grading Scale
A
=
4.00
90 - 100%
EXCELLENT
B
=
3.00
80 – 89%
GOOD
C
=
2.00
70 – 79%
SATISFACTORY
D
=
1.00
60 – 69%
PASS
F
=
0.00
BELOW 60%
FAIL
I
=
INC
INCOMPLETE
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To receive a minimum passing grade, students must
make a post to each discussion question for that
week by day 4 of each week and respond to at least
two other postings by the end of the week. Individual
Posts are worth up to 5 points and the total
Response Posts are worth up to 5 points total. Each
discussion will total up to 10 points.
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
11
Course Overview
MBA 500 Financial Accounting
Faculty Evening Course Outcomes Based in Bloom’s Taxonomy
Learning Outcomes
Assignments
Points
•
Explain fundamental accounting concepts and accounting
terminology.
Quizzes – 6 quizzes @ 20 points each
120 pts
•
Apply GAAP in preparation of the four primary financial
statements.
Individual chapter problems – 6
assignments @ 40 points each.
240 pts
•
Apply and interpret appropriate liquidity, solvency, profitability
and management efficiency ratios in order to interpret financial
statements.
Team case study – 6 parts @ 20 points
each.
120 pts
•
Describe the importance of financial statement disclosures and
Online discussion questions - 6
apply these disclosures to explain related changes in the financial questions @ 10 points each.
statements.
60 pts
•
Argue ethical issues related to financial statement presentation
and judge the responsibility of management.
60 pts
In-class group activities– 6 assignments
@ 10 points each.
Total Points for course
600 pts
about Bloom’s Taxonomy
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Learning Outcomes
MBA 500 Financial Accounting
Faculty Evening Course Schedule
Session
Loc.
Class Title
Assignments
01 A
F2F
Balance Sheet and Income Statement
•
•
01 B
online
Balance Sheet and Income Statement
•
•
•
•
02 A
F2F
Quality of Earnings and Disclosures
•
•
02 B
online
Quality of Earnings and Disclosures
•
•
•
•
03 A
F2F
Reporting and Interpreting Assets
•
•
03 B
online
Reporting and Interpreting Assets
•
•
•
•
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In-class team case study part 1 –
select company and obtain
financial statements.
In- class group activity – analyzing
management incentives.
Read Chapters 1, 2 and 3.
Quiz in Connect® Plus Accounting.
Individual chapter problems in
Connect® Plus Accounting.
Discussion question – who relies
on the information in financial
statements?
Team case study part 2 – evaluate
quality of earnings for selected
company.
Group activity – comparing
companies within an industry.
Read Chapters 4 and 5.
Quiz in Connect® Plus Accounting.
Individual chapter problems in
Connect® Plus Accounting.
Discussion question – revenue and
expense recognition principles.
Team case study part 3 – analyze
assets for selected company.
Group activity – evaluating an
ethical dilemma.
Read Chapters 6, 7 and 8.
Quiz in Connect® Plus Accounting.
Individual chapter problems in
Connect® Plus Accounting.
Discussion question – LIFO and
FIFO.
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
13
Course Schedule
MBA 500 Financial Accounting
Faculty Evening Course Schedule
Session
Loc.
Class Title
Assignments
04 A
F2F
Reporting and Interpreting Liabilities
•
•
04 B
online
Reporting and Interpreting Liabilities
•
•
•
•
05 A
F2F
Reporting and Interpreting
Stockholders’ Equity
•
•
05 B
online
Reporting and Interpreting
Stockholders’ Equity
•
•
•
•
06 A
F2F
Analyzing Cash Flow and Profitability
•
•
06 B
online
Analyzing Cash Flow and Profitability
•
•
•
•
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Team case study part 4 – analyze
liabilities for selected company.
Group activity – leases and
contingent liabilities.
Read Chapters 9 and 10.
Quiz in Connect® Plus Accounting.
Individual chapter problems in
Connect® Plus Accounting.
Discussion question – issuing
bonds at a discount .
Team case study part 5 – evaluate
stock performance and dividend
policy for selected company.
Group activity – cash dividends
versus stock dividends.
Read Chapters 11 and 12.
Quiz in Connect® Plus Accounting.
Individual chapter problems in
Connect® Plus Accounting.
Discussion question – equity
method.
Team case study part 6 - report on
selected company.
Group activity – statement of cash
flows.
Read Chapters 13 and 14.
Quiz in Connect® Plus Accounting.
Individual chapter problems in
Connect® Plus Accounting.
Discussion question – ratios and
trends.
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
14
Course Schedule
MBA 500 Financial Accounting
Faculty Evening Session 1A
Activities, Assignments and Agenda
Course Overview
15 minutes
• Student introductions.
• Overview of assignments and instructor expectations..
• How to use Desire2Learn to review content, post discussions and check grades.
• How to use Connect® Plus Accounting to complete quizzes and individual chapter problems.
Key Points from Chapters 1, 2 and 3
90 minutes
• Instructor engages the class in a dialogue covering:
− the four basic financial statements and the information each statement conveys
− description of Generally Accepted Accounting Principles (GAAP)
− the role of auditors
− the accounting model – Assets = Liabilities + Stockholders’ Equity
− how simple business transactions affect the balance sheet
− how business activities affect the income statement
− what is accrual based accounting and why do companies use this method
• Instructor gives the students a practice quiz covering these topics.
Group Activity – Analyzing Management Incentives
90 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Review the facts of case CP2-8 “Evaluating an Ethical Dilemma: Analyzing Management
Incentives” on page 98 of the textbook with the class.
• Each group is to:
− Do additional internet research on this particular case.
− Identify similar situations where a company executive has faced similar charges.
− Discuss the three questions in the case.
− Prepare a 10 minute presentation.
− Present their findings and conclusions to the class.
− Submit their presentation to the Dropbox in D2L.
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
15
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 1A
Activities, Assignments and Agenda (continued)
Team Case Study - Part 1
45 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• The objective of the case study is to prepare a comprehensive financial analysis of a Chicago
based company.
• In this first part of the case, the team selects a company to analyze. The company should be a
member of the Fortune 500 list of publicly traded companies, and should either be headquartered
in or have a substantial presence in the metropolitan Chicago area. The company selected should
be a retailer, distributor or manufacturer of consumer goods or capital equipment.
• Once the team has selected a company, the team is to:
− download the company’s most recent 10k report
− locate the company’s financial statements in the 10k report.
− prepare a one page summary of the company, identifying the nature of its business, its size
(in terms of assets, revenue and profits), its stock symbol, current stock price and total
market capitalization.
− submit their one page summary to the Dropbox in D2L.
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
16
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 1B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 1 Financial Statements and Business Decisions
• Chapter 2 Investing and Financing Decisions and the Balance Sheet
• Chapter 3 Operating Decisions and the Income Statement
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Accounting. The due date for the quiz should be set
to two days after class – for example if class is held on Monday evening, then the quiz is due by
midnight Wednesday. The instructor should check each student’s score on Thursday and follow up
with any students who appear to have had difficulty with the quiz.
• Complete the assigned chapter problems in Connect® Plus Accounting. The due date for the
assignment should be set to six days after class – for example, if class is held on Monday evening,
then the problems are due by midnight Sunday. The instructor should check each student’s score
before class, to identify areas that students had difficulty with and might need further explanation in
class.
Desire2Learn Discussion Topic – Who relies on the information in financial statements?
Baseline Corporation was formed two years ago to manufacture fitness equipment. It has been
profitable and is growing rapidly. It currently has 150 stockholders and 90 employees; most of the
employees own at least a few shares of Baseline's stock. The company has received financing from
two banks. It will sell additional shares of stock within the next three months and will also seek
additional loans and hire new employees to support its continued growth.
Explain who relies on the information in financial statements prepared by Baseline Corporation. Why
is compliance with generally accepted accounting principles and accuracy in accounting important for
Baseline?
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17
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 2A
Activities, Assignments and Agenda
Review of Solutions to Individual Assignments
• Review solutions to quiz on Chapters 1, 2, and 3
• Review solutions to individual chapter problems from Chapters 1, 2, and 3
30 minutes
Key Points from Chapters 4 and 5
90 minutes
• Instructor engages the class in a dialogue covering:
− the purpose of a trial balance
− adjustments necessary at the end of the accounting period to update balance sheet and
income statement accounts
− elements of an income statement
− calculating and interpreting profit margin
− steps in the accounting communication process, including the issuance of press releases,
annual reports, quarterly reports and various other SEC filings
− analyzing a company’s performance based on return on assets
• Instructor gives the students a practice quiz covering these topics.
Group Activity – Comparing Companies within an industry
60 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Each group will:
− Review cases CP5-1, CP5-2 and CP5-3 on pages 273 – 274 of the textbook.
− Answer all of the questions in each case.
− Prepare a 10 minute presentation comparing the two companies.
− Present their findings to the class
− Submit their presentation to the Dropbox in D2L.
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18
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 2A
Activities, Assignments and Agenda (continued)
Team Case Study - Part 2
60 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• The objective of the case study is to prepare a comprehensive financial analysis of a Chicago
based company.
• In this second part of the case study, the team is to:
− review the financial statement disclosures for their selected company
− calculate the profit margin and return on assets for the company
− prepare a one page summary of company’s quality of earnings
− submit their one page summary to the Dropbox in D2L.
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19
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 2B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 4 Adjustments, Financial Statements, and the Quality of Earnings
• Chapter 5 Communicating and Interpreting Accounting Information
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Accounting. The due date for the quiz should be set
to two days after class – for example if class is held on Monday evening, then the quiz is due by
midnight Wednesday. The instructor should check each student’s score on Thursday and follow up
with any students who appear to have had difficulty with the quiz.
• Complete the assigned chapter problems in Connect® Plus Accounting. The due date for the
assignment should be set to six days after class – for example, if class is held on Monday evening,
then the problems are due by midnight Sunday. The instructor should check each student’s score
before class, to identify areas that students had difficulty with and might need further explanation in
class.
Desire2Learn Discussion Topic – Revenue and Expense Recognition Principles:
Open the 10k report for CA Technologies, a large software company, and review the company’s
revenue and expense recognition policies. Why might managers be tempted to violate the revenue
principle and the matching principle. How does a large, global company like CA ensure that it’s
mangers comply with their policy on revenue and expense recognition?
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20
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 3A
Activities, Assignments and Agenda
Review Solutions to Individual Assignments
• Review solutions to quiz on Chapters 4 and 5
• Review solutions to individual chapter problems from Chapters 4 and 5
30 minutes
Key Points from Chapters 6, 7 and 8
90 minutes
• Instructor engages the class in a dialogue covering:
− revenue recognition principle
− impact of credit card sales, sales discounts and sales returns
− effects of uncollectible accounts on financial statements
− analysis of accounts receivable turnover and effects on cash flows
− applying the cost principle and matching principle to determine cost of goods sold
− use of different inventory costing methods (LIFO, FIFO, average cost, specific identification)
and reporting of lower of cost or market (LCM)
− analysis of inventory turnover and effects on cash flow
− applying the cost principle and matching principle to long lived productive assets
− use of different depreciation methods
− impact on cash flow of acquisition, use and disposal of long lived assets
• Instructor gives the students a practice quiz covering these topics.
Group Activity – Evaluating an Ethical Dilemma
60 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Each group will :
− Review and discuss the facts presented in case CP8-9 on pages 449 – 451 of the textbook.
− Answer the 5 questions in the case.
− Prepare a 10 minute presentation.
− Present their findings to the class.
− Submit their presentation to the Dropbox in D2L.
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21
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 3A
Activities, Assignments and Agenda (continued)
Team Case Study - Part 3
60 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• The objective of the case study is to prepare a comprehensive financial analysis of a Chicago
based company.
• In this third part of the case study, the team is to:
− identify the methods used by their selected company for revenue recognition, inventory
costing, recognition of bad debts and depreciation.
− calculate the inventory turnover and accounts receivable turnover
− prepare a one page summary of their analysis
− submit their one page summary to the Dropbox in D2L
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22
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 3B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 6 Reporting and Interpreting Sales Revenue
• Chapter 7 Reporting and Interpreting Cost of Goods Sold and Inventory
• Chapter 8 Reporting and Interpreting Property, Plant and Equipment
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Accounting. The due date for the quiz should be set
to two days after class – for example if class is held on Monday evening, then the quiz is due by
midnight Wednesday. The instructor should check each student’s score on Thursday and follow up
with any students who appear to have had difficulty with the quiz.
• Complete the assigned chapter problems in Connect® Plus Accounting. The due date for the
assignment should be set to six days after class – for example, if class is held on Monday evening,
then the problems are due by midnight Sunday. The instructor should check each student’s score
before class, to identify areas that students had difficulty with and might need further explanation in
class.
Desire2Learn Discussion Topic – LIFO and FIFO
Review the Critical Thinking Case CP7-6 “Making a Decision as a Financial Analyst: Analysis of the
Effect of a Change to LIFO” on pages 382-383 of the textbook. Answer the three questions at the end
of the case.
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23
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 4A
Activities, Assignments and Agenda
Review Solutions to Individual Assignments
• Review solutions to quiz on Chapters 6, 7 and 8
• Review solutions to individual chapter problems from Chapters 6, 7 and 8
30 minutes
Key Points from Chapters 9 and 10
• Instructor engages the class in a dialogue covering:
− definition of working capital and its impact on cash flow
− calculating and evaluating working capital ratios
− reporting of contingent liabilities
− application of present value concepts to liabilities
− characteristics of bonds
− reporting of amounts for bonds payable and interest expense
− calculating and analyzing debt ratios
− effect of financing activities on cash flows
• Instructor gives the students a practice quiz covering these topics.
90 minutes
Group Activity – Leases and Contingent Liabilities
90 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Each group will:
− Review case CP9-8 “Examining an Annual Report on page 503 of the textbook.
− Select at least 3 companies in the same industry to analyze.
− Answer questions 1 and 2 in the case.
− Prepare a 10 minute presentation.
− Present their findings to the class.
− Submit their presentation to the Dropbox in D2L.
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24
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 4A
Activities, Assignments and Agenda (continued)
Team Case Study - Part 4
60 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• In this fourth part of the case study, the team is to:
− calculate the working capital ratios for their selected company
− review the financial statement disclosures regarding their selected company’s long term debt
− Calculate the debt ratios for their selected company
− Prepare a one page summary of their analysis
− Submit their one page summary to the Dropbox in D2L.
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25
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 4B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 9 Reporting and Interpreting Liabilities
• Chapter 10 Reporting and Interpreting Bonds
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Accounting. The due date for the quiz should be set
to two days after class – for example if class is held on Monday evening, then the quiz is due by
midnight Wednesday. The instructor should check each student’s score on Thursday and follow up
with any students who appear to have had difficulty with the quiz.
• Complete the assigned chapter problems in Connect® Plus Accounting. The due date for the
assignment should be set to six days after class – for example, if class is held on Monday evening,
then the problems are due by midnight Sunday. The instructor should check each student’s score
before class, to identify areas that students had difficulty with and might need further explanation in
class.
Desire2Learn Discussion Topic – Issuing Bonds at a Discount
Consider the following statement: “Issuing bonds at a discount is bad for the issuing corporation.”
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26
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 5A
Activities, Assignments and Agenda
Review Solutions to Individual Assignments
• Review solutions to quiz on Chapters 9 and 10
• Review solutions to individual chapter problems from Chapters 9 and 10
30 minutes
Key Points from Chapters 11 and 12
90 minutes
• Instructor engages the class in a dialogue covering:
− the role of stock in the capital structure of a corporation
− calculating and analyzing earnings per share
− the role of dividends
− the purpose of stock dividends and stock splits
− impact of stock transactions on cash flow
− analyzing and reporting investments in debt securities
− analyzing and reporting passive investments in securities
− what is meant by “significant influence” versus a controlling interest and how it affects the
reporting of investments
• Instructor gives the students a practice quiz covering these topics.
Group Activity – Cash Dividends versus Stock Dividends
120 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Each group is to:
− Review case CP11-5 “Evaluating an Ethical Dilemma” on page 594 of the textbook.
− Research other situations where companies have reduced, suspended or eliminated cash
dividends.
− Research situations where companies have issued stock dividends and the subsequent
affect on stockholders’ wealth.
− Prepare a 10 minute presentation and present their findings to the class.
− Submit their presentation to the Dropbox in D2L.
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27
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 5A
Activities, Assignments and Agenda (continued)
Team Case Study - Part 5
60 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• The objective of the case study is to prepare a comprehensive financial analysis of a Chicago
based company.
• In this fifth part of the case study, the team is to:
− prepare a trend graph of their selected company’s earnings per share
− determine the company’s dividend policy
− identify and describe any investments involving significant influence or controlling interest
− prepare a one page summary of their analysis
− submit their one page summary to the Dropbox in D2L.
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28
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 5B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 11 Reporting and Interpreting Owners’ Equity
• Chapter 12 Reporting and Interpreting Investments
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Accounting. The due date for the quiz should be set
to two days after class – for example if class is held on Monday evening, then the quiz is due by
midnight Wednesday. The instructor should check each student’s score on Thursday and follow up
with any students who appear to have had difficulty with the quiz.
• Complete the assigned chapter problems in Connect® Plus Accounting. The due date for the
assignment should be set to six days after class – for example, if class is held on Monday evening,
then the problems are due by midnight Sunday. The instructor should check each student’s score
before class, to identify areas that students had difficulty with and might need further explanation in
class.
Desire2Learn Discussion Topic – Equity Method
Discuss how the equity method prevents managers of the investor corporation from manipulating
income related to dividends from the investee.
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
29
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 6A
Activities, Assignments and Agenda
Review Solutions to Individual Assignments
• Review solutions to quiz on Chapters 11 and 12.
• Review solutions to individual chapter problems from Chapters 11 and 12.
30 minutes
Key Points from Chapters 13 and 14
90 minutes
• Instructor engages the class in a dialogue covering:
− classifying cash flow statement items
− analyze and interpret the quality of income ratio
− reporting and interpreting cash flows from operating activities using the indirect method
− additional cash flow disclosures
− how analysts use financial statements
− computing and interpreting profitability ratios
− computing and interpreting liquidity ratios
− computing and interpreting solvency ratios
• Instructor gives the students a practice quiz covering these topics.
Group Activity – Statement of Cash Flows
60 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Each group is to:
− Review Case CP13-6 on pages 688 – 689 of the textbook.
− Answer the three questions in the case.
− Prepare a 5 minute presentation and present their findings to the class.
− Submit their presentation to the Dropbox in D2L.
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30
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 6A
Activities, Assignments and Agenda (continued)
Team Case Study – Part 6
60 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• The objective of the case study is to prepare a comprehensive financial analysis of a Chicago
based company.
• In this sixth part of the case study, the team is to prepare a final report on their selected company.
The report should be 5 to 10 pages and should:
− describe the company’s financial performance over the past 5 years, an include trends in
revenues and profits as well as key profitability ratios.
− evaluate the company’s quality of earnings over the past 5 years. Identify and explain any
extraordinary or non-recurring items.
− describe challenges the company has faced in the past 5 years and how these have
affected the company’s financial results.
− describe the financial outlook for the company and what key things, if any, it needs to do to
improve its financial results.
• The team should submit its final report to the Dropbox in D2L.
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31
Session 1A
MBA 500 Financial Accounting
Faculty Evening Session 6B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 13 Statement of Cash Flows
• Chapter 14 Analyzing Financial Statements
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Accounting.
• Complete the assigned chapter problems in Connect® Plus Accounting.
Desire2Learn Discussion Topic – Ratios and Trends
Carolina Company reported the following ratios for a two year period:
Ratio
2009
2010
1.3 to 1
.6 to 1
Return on Equity
25%
16%
Quality of Income
1.7
.5
Cash Coverage Ratio
346
122
Profit Margin
6%
4%
Current Ratio
Comment on the trend of each of the ratios from 2009 to 2010. State concerns or possible
implications for the future of each.
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32
Session 1A
MBA 500 Financial Accounting
Appendix – Connect Plus® Accounting Assignments
Title
Quiz 1
Individual
Chapter
Problems
Assignment 1
Quiz 2
Individual
Chapter
Problems
Assignment 2
Quiz 3
Individual
Chapter
Problems
Assignment 3
Quiz 4
Individual
Chapter
Problems
Assignment 4
Quiz 5
Individual
Chapter
Problems
Assignment 5
Quiz 6
Individual
Chapter
Problems
Assignment 6
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Assigned Questions/Problems
Test Bank Questions
Chapter 1: 21, 22, 23, 26
Chapter 2: 31, 32, 33
Chapter 3: 31, 32, 33
Textbook Problems
Chapter 1: P1-1, P1-2
Chapter 2: P2-1, P2-3
Chapter 3: P3-2, P3-3
Test Bank Questions
Chapter 4: 29, 30, 32, 35, 36
Chapter 5: 31, 32, 38, 39, 42
Textbook Problems
Chapter 4: P4-1, P4-2, P4-4
Chapter 5: P5-6, P5-7, P5-8
Test Bank Questions
Chapter 6: 29, 30, 31
Chapter 7: 31. 37, 38, 40
Chapter 8: 41, 43, 49
Textbook Problems
Chapter 6: P6-1, P6-2
Chapter 7: P7-2, P7-8
Chapter 8: P8-3, P8-6
Test Bank Questions
Chapter 9: 31, 32, 37, 39, 45
Chapter 10: 33, 35, 42, 62, 76
Textbook Problems
Chapter 9: P9-1, P9-2, P9-4
Chapter 10: P10-1, P10-2, P10-3
Test Bank Questions
Chapter 11: 31, 32, 34, 35, 39
Chapter 12: 31, 32, 36, 39, 40
Textbook Problems
Chapter 11: P11-1, P11-2, P11-3
Chapter 12: P12-2, P12-3, P12-5
Test Bank Questions
Chapter 13: 31, 32, 34, 36, 37
Chapter 14: 41, 44, 45, 46, 49
Textbook Problems
Chapter 13: P13-1, P13-2, P13-5
Chapter 14: P14-6, P14-9, P14-10
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33
Session 1A