JOHNS HOPKINS UNIVERSITY
CENTER FOR LEADERSHIP EDUCATION
THE WILLIAM P. CAREY PROGRAM IN ENTREPRENEURSHIP AND MANAGEMENT
FALL 2009 FINANCIAL ACCOUNTING 660.203.02
DAY/TIME/LOCATION
OF CLASS:
Monday Evenings, 6:15 – 9:00 PM, Maryland Hall, Rm. 104
INSTRUCTOR:
Jack Powell, CMA, CFA
Center For Leadership Education
Rm. 104, Whitehead Hall, x7197
E-mail: WebCT or jpowell1@vt.edu
Office Hours: M/T, 5:00-6:00 PM in Whitehead Rm. 102
COURSE ASST:
Woojung Park
E-mail: wpark8@jhu.edu
Office Hours: T, 2:00 – 4:00 PM
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.
REQUIRED TEXTS:
Libby, Libby & Short, Financial Accounting, 6th edition, 2009, McGraw-Hill/Irwin, New York, NY,
ISBN: 978-0-07-352688-1
COURSE OBJECTIVES:
This course seeks to provide the undergraduate business student with a foundation in financial accounting
principles and practices. Upon completion of this course, the student should be fully capable of producing,
analyzing, and/or making business decisions using basic financial statements. Specifically, a student who
successfully completes this course should be capable of:
(1) Communicating for-profit business earnings, assets, liabilities and cash flows in the form of
the basic financial statement set.
(2) Identifying and properly treating basic accounting transactions.
(3) Analyzing and communicating basic financial statement data involving the revenue cycle.
(4) Analyzing and communicating basic financial statement data involving cost of goods sold and
inventory.
(5) Analyzing and communicating basic financial statement data involving operating expenses.
(6) Analyzing and communicating basic financial statement data involving current and operating
assets.
(7) Analyzing and communicating basic financial statement data involving short and long term
debt financing.
(8) Analyzing and communicating basic financial statement data involving equity financing.
(9) Analyzing and communicating accounting derived cash flow.
The course accomplishes the above objectives using a combination of classroom demonstration and
homework problem solution.
CLASS TOPICS AND HOMEWORK ASSIGNMENTS:
9/14
Introduction, Ch. 1
Relevant HW: E1-1 through E-1-14, P1-1, P1-3
9/21
Transaction Analysis and Balance Sheet, Ch. 2
Relevant HW: E2-1 through E2-5, E2-8 through E2-11, E2-13, E2-16, P2-1
Quiz 1
9/28
Income Statement-Part 1, Ch.3
Relevant HW: E3-1 through E3-11, E3-13 through E3-14, E3-16 through E3-18
Quiz 2
10/5
Income Statement-Part 2, Ch. 4
Relevant HW: All Exercises, P4-1 through P4-3
Quiz 3
10/9
On-Line Exam Review
10/12
Mid-Term Examination I – Chs. 1-4
10/19
Revenue Cycle, Ch. 6
Relevant HW: E6-1 through E6-14, E6-17 through E6-19, E6-23 through E6-24
No Quiz
10/26
Cost of Goods Sold and Inventory, Ch. 7
Relevant HW: E7-1 through E7-6, E7-9 through E7-13
Quiz 4
11/2
Investments in Operating Assets, Ch. 8
Relevant HW: E8-1 through E8-8, E8-13 through E8-18
Quiz 5
11/6
On-Line Exam Review
11/9
Mid-Term Examination II – Chs. 6-8
11/16
Financing With Short-Term Debt and Time Value of Money, Ch. 9
Relevant HW: E9-1 through E9-7, E9-15 through E9-25
No Quiz
11/23
Financing With Long-Term Debt, Ch. 10
Relevant HW: E10-1 through E10-11, E10-15 through E10-21
Quiz 6
11/30
Financing With Equity, Ch. 11
Relevant HW: E11-1 through E11-27
Quiz 7
12/7
Statement of Cash Flows, Ch. 13
Relevant HW: E13-1, E13-6 through E13-10, P13-1 through P13-2
Quiz 8
12/11
On-Line Exam Review
12/14
Final Examination – During normal class meeting time and in same location.
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CLASS POLICIES:
(1)
(2)
(3)
(4)
(5)
WebCT. This course has a WebCT site. The site will be used to deliver lecture material,
homework, quiz and exam solutions, special instructional information, course announcements
and other items of student interest. Please monitor the course WebCT site regularly. Students
are encouraged to bring laptops to class, as lecture material will be presented electronically
using WebCT. NOTE: WebCT e-mail is the preferred method of communicating with the
instructor.
Class attendance and preparation. Class attendance and preparation is vital to the successful
completion of this course. Students are expected to come to class on time and prepared.
Adequate preparation includes completing all of the homework assigned during the previous
class, reading the chapter material to be discussed that evening and having at least attempted
some of the homework exercises for that chapter. PLEASE BRING YOUR TEXTBOOK
TO EVERY CLASS.
Homework and Quizzes. Homework will not be collected, however, students will be quizzed
on most of the homework assigned. Homework solutions will be posted on WebCT after the
subject material has been covered in class. The format of the quizzes will be short answer,
multiple choice and problem solution. Make-up quizzes will be administered at the full
discretion of the instructor. Please note that make-up quizzes will not be administered as the
result of travel plans, job interviews, or lack of preparedness.
Examinations. There will be two mid-term examinations and a final examination given during
the course. Calculators are permissible for use during all quizzes and exams. Mid-term
examinations will cover the material specified. The final examination is cumulative. Make-up
exams will be administered at the full discretion of the instructor. Please note that make-up
exams will not be administered as the result of travel plans, job interviews, or lack of
preparedness.
Senior option. Senior option will not be offered in this course.
EVALUATION:
Each course participant will be evaluated as follows:
Quizzes – 15%
Mid-Term Exam I – 25%
Mid-Term Exam II – 25%
Final Exam – 35%
Letter grades awarded shall correspond to the following scale:
Letter Grade
Percentage Points
A+
A
AB+
B
BC+
C
CD
F
97-100
93-96
90-92
87-89
83-86
80-82
77-79
73-76
70-72
60-69
Below 60
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 Internet and electronic devices, unauthorized collaboration, alteration of graded
assignments, forgery and falsification, lying, facilitating academic dishonesty, and unfair competition.
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ETHICS (Cont’d):
In addition, the specific ethics guidelines for this course are:
(1) Discussing a quiz or examination with a member of another section after the other section has
taken the quiz or examination is cheating.
(2) After taking a quiz or examination, discussing the quiz or examination with a member of another
section before the other section has taken the quiz or examination is also cheating.
(3) If you are taking a make-up quiz or exam, discussing the quiz or exam material with anyone who
has already taken the quiz or exam prior to taking the make-up is cheating.
(4) Discussing a quiz or exam with anyone who is scheduled to take a make-up is also cheating.
Report any violations you witness to the instructor. You may consult the associate dean of student affairs
and/or the chairman of the Ethics Board beforehand. See the guide on “Academic Ethics for
Undergraduates” and the Ethics Board website (http://ethics.jhu.edu) for more information.
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