Accounting 211
Financial and Managerial
Accounting
Teaching Assistant
Hyun Jung (Joan) Lee
Contents
1. Introduction
Let me INTRODUCE~
Course Introduction
Textbook
Evaluations
Makeup Exam
WileyPlus
2. Review of Chapter2
3. Practice
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Introduction
1
Let me INTRODUCE~
Hyun Jung (Joan) Lee, 1st year Accounting Ph.D. student
Background
B.S. in Statistics
M.B.A. in Finance
Korean Institute of Certified Public Accountants
Korean Institute of Certified Tax Accountants
Senior Associate, PricewaterhouseCoopers (PwC), 2001-2006
Office : 381A Business Building, 814-863-3796
Office Hour : 8 AM. ~ 10:00 AM on Tuesday
Email : hul152@psu.edu
Personal Blog : www.personal.psu.edu/hul152
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Course Introduction
Lecture
In-Class Lecture
Face-to-face meeting with instructor
Section 04 : T R 08:00A - 09:15A, 105 FORUM
Section 11 : T R 02:30P - 03:45P, 105 FORUM
Section 17 : T R 04:15P - 05:30P, 105 FORUM
Lab Recitation
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Course Introduction, cont.
Recitation
Recitation with “ME” on FRIDAY!!
Section 04 : F 2:30-3:45PM, 106 Business
Section 11 : F 8:00-9:15AM, 106 Business
Section 17 : F 09:45-11:30AM, 362 WILLARD
(Note: If you miss the assigned recitation, you can attend any other
two recitations)
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Textbook
Textbook
Accounting, 2nd ed. with WileyPLUS by Paul Kimmel et al.
Three options as to type of book to purchase:
(a) to buy a standard book
(b) to buy a binder ready version of the book
(c) an electronic copy of the book
(everything in the book is in this version).
Have Fun!!~
Sample Quizzes, Crossword Puzzles and Electronic Flash Cards
and some interactive tutorials
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Evaluation
Grading components
Professor Ketz : Financial Accounting
Professor Huddart : Managerial Accounting
Number Grade = 2/3 * Financial Acc. +1/3*Managerial Acc.
Financial Accounting
Homework : WileyPlus
Exam 1 : Feb 13, 8:15 to 10:00 PM.
Exam 2 : Mar 26, 8:15 to 10:00 PM.
Each components weighted one-third
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Make-up Exam
Assignments
Ask “W.G. Deng” for PERMISSION
Contact Information
Office : 350A Business Building
Phone : 863-5467
Email : wxd139@psu.edu
Office Hours : Mon & Thrs from 1pm until 3pm and by appointment.
Only one chance to take it
Makeup for the First Exam : Feb 23th on Saturday
Makeup for the Second Exam : April 5th on Saturday
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WileyPlus
Online Homework
For Registering
http://www.wiley.com/college/twomin/stu/register.html
The URL : http://edugen.wiley.com/edugen/class/cls49425/
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Review of Chapter2
2
Financial Statements
Overview
Balance Sheet
Income Statement
Statement of Changes in Owners’ Equity
Statement of Cash Flows
Solving Approach by transaction perspective
Income Statement
Statement of Changes in Owners’ Equity
Balance Sheet
Statement of Cash Flow
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Financial Statements
Balance Sheet
Balance Sheet
Describe the financial situation of a specific point in time
Accounting Equation
Assets = Liabilities + Owner’s Equity
Components
Assets : Economic resources owned by the business
Liabilities : Obligations of the business to creditors
Equity : Owner’s claims to the assets of the company
 Contributed capital & Retained earnings
Retained Earnings (R/E)
End of R/E = Beginning R/E + Net Income – Dividends
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Financial Statements, conti.
Income Statement
Show all revenues minus all expenses for an accounting period
Statement of changes in Owners’ Equity
Show the changes that took place in the amount of owners’ equity
during the period
End of Contributed Capital (C/C) + End of Retained Earnings
End of C/C = Beginning of C/C + Stock Issued during that period
End of R/E = Beginning R/E + Net Income – Dividends
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Financial Statements, conti.
Statement of C/F
Statement of Cash Flows
Show all the cash inflows and all the cash outflows for a specific
period with the revenues and expenses for the same period in the
income statement
Three Sections
Cash from Operating Activities
Cash from Investing Activities
Cash from Financing Activities
Check the below two amounts are EQUAL!!!
End of Cash Amounts in Statement of Cash Flows
Cash Amounts in Balance Sheet
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Ratio Classification
Liquidity
Can a company pay the bills as they come due?
Solvency
Can the company survive over a long period of time?
Profitability
Can a company earn a satisfactory rate of return?
Market indicators
Is the stock a good investment?
Cash Flow: pretty obvious after March 18th
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15 Ratios
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15 Ratios, conti.
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Practice!!!
3
Practice
Problem 2
Problem 7
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Do you have any questions?
381A Business Building
814-863-3796, hul152@psu.edu
Welcome to Accounting World!!~
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