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S p r r i i n g 2 0 1 2 W K U a n c i i a l l A c c o u n t i i
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W elcome to ACCT 200. This course will help you to learn about the decisions that are made when running a business.
We will focus on the financial results of business decisions and how accountants inside a business report these results to people outside the business who then use the reports to make their own decisions. This balanced inside/reporter and outside/user perspective will help you whether you become a manager who makes business decisions, an accountant who reports the financial results of these decisions, or an investor or lender who evaluates the reported financial results.
This course has a reputation of being “tough.” Unlike other courses where you can get by with just reading or listening, this is a course where you’ll learn the most by doing. If you merely read the book and listen to the comments made in class, you might
you understand the material but then struggle when you later try to apply it. The problem is some people don’t realize this until the first exam. If you wait that long to practice what you’re learning, you’ll likely find that the class isn’t easy. Make time to practice regularly, just like you’re learning to play the piano.
C O U R T E S Y
It is easy to distract others even
You’ll do the typical stuff: read textbook chapters, come to
Please don’t do anything that draws attention away from projects, and take exams. What I hope will be different other
Cell phones or other electronic devices that ring, beep, or play a merry melody should be silenced before class begins.
H O N E S T Y
Everyone in this class is expected to have read and class, do homework problems, complete quizzes, work on posted on the Student Code of classes, though, is that you’ll do this for
Please ask me if you have questions about how these rules apply to this course.
Yining Chen, PhD, CPA
510 Grise ◊ 270.745.2982 yining.chen@wku.edu
TR 8:20-9:20, 11:00-12:00 or by appointment
TR 12:45-2:05, 533 Grise
http://www.wku.edu/
~yining.chen/ACCT200.htm
1) Text – Fundamentals of
Financial Accounting, 3e, 2011,
McGraw-Hill/Irwin, by
Phillips, Libby, & Libby.
2) Connect online homework system. Registration: http://connect.mcgrawhill.com/class/y_chen_spring_2
012_tr_1245pm
Sophomore standing and a
Math class above Math 110
P A R T I C I P A T I O N
I don’t require you to make formal class presentations, but I may occasionally call on you to answer a question, discuss an issue, or work on problems with others in the class. Please participate to the best of your ability. If you don’t get involved in this course, the rest of us lose something.
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To do well in this course, you should prepare before class, engage in what is discussed during class, and practice after class. These are crucial steps to developing your understanding, as shown below.
Prepare: read the chapter and view the online presentation
Prepare: review the chapter and begin ungraded practices
Practice: complete the ungraded and graded assignments
Engage: ask questions in class Engage: review ungraded practices
Your understanding will be assessed through a variety of tasks, including graded assignments, quizzes, midterm exams, and a final exam. The following diagram shows how I visualize the contribution of these course components to your overall understanding, and how I will weight them in determining your final course grade:
Graded
Assignments
15%
Midterm
Exam #1
20%
Midterm
Exam #2
20%
Midterm
Exam #3
20%
Cumulative
Final Exam
25%
Ungraded practices: On page 4, I have listed several exercises that you should attempt on each chapter. Most of these exercises will be reviewed during our class meetings. I do not want to ding you for mistakes when you are first learning to apply the material of each chapter, so these exercises will not be graded. That does not mean they are unimportant; they are very important and will serve as your first step to learning the material. Do not skip this step.
Graded assignments: You are expected to complete 12 graded homework assignments, which will contribute 75 points (15%) to your final grade. Graded homework will be completed, submitted, and graded using an online system called Connect. Access to Connect is free with any new book purchase; if you buy a used book, you must buy access online at www.mhhe.com/phillips3e or buy a
Connect access card at the university bookstore, and use its access code to register online. When registering with Connect, enter a login name AND pass code. After registering, you will be able to access the first assignment. The dates on which Connect assignments will be available for online completion are indicated at the Connect Web site. Connect automatically rejects all submissions after the deadline. Because these assignment questions are auto-graded, you should format your responses precisely as instructed in each question.
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Exams: Exams will be based on the textbook readings, in-class discussions, homework assignments, and ungraded practice material. Exams are expected to be more challenging than graded homework assignments (there are no drop-down menus in an exam). Instead, they will be similar in difficulty to practice material. The midterm exams will be held in class on the scheduled dates. If you must miss a midterm for a university-sanctioned reason and provide appropriate documentary evidence, your final exam score will substitute for that midterm. (This does not mean your final exam score will automatically substitute for assignments or midterm exams for other reasons. It won’t.) THERE WILL
BE NO MAKE-UP EXAM GIVEN. The final exam is scheduled by central university administration.
The last day for finals is May 11, so don’t book an early vacation. You may use only 4-function calculators during exams; cell phones and other electronic devices are not to be accessed during exams.
Grading: Grading Scale
90% - 100% = A
80% - 89.9% = B
70% - 79.9% = C
60% - 69.9% = D
Below 60% = F
Possible Points
Exam 1
Exam 2
Exam 3
Final Exam
Homework
100 points
100
100
125
75 Total 500 points
On many occasions, I will make course announcements in class and via the WKU email account.
There might be addendums to this course syllabus, which means you should attend class and check your WKU email account on a regular and frequent basis. If you would like to discuss any aspect of the course, please drop in to see me during office hours. If you have a question that can be answered with a short reply, please send me an email message with the label “ACCT200” in the subject line.
Finally, if you feel quizzes or exams have been graded inaccurately, write a short memo explaining the issue and I will reconsider the grading.
In compliance with university policy, students with disabilities who require accommodations
(academic adjustments and/or auxiliary aids or services) for this course must contact the Office for
Student Disability Services in DUC A-200 of the Student Success Center in Downing University Center.
Please DO NOT request accommodations directly from the professor or instructor without a letter of accommodation from the Office for Student Disability Services.
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Date Prepare Ungraded Practice Homework*
1/24 (T)
Ch.1: Business Decisions and Financial Accounting
26 (R)
31 (T) Ch.2: Reporting Investing and Financing Results
2/2 (R) on the Balance Sheet
M: 4, 5, 7, 8, 9, 10
E: 8, M: 3, PA: 1
M: 6, 14, E: 9
PA: 2
M: 1, 7, 14, E: 2, PA: 1 M: 2, 4
M: 5, 18, E: 12, 14 E: 4, 6, PA: 2
7 (T) Ch.3: Reporting Operating Results on the Income
9 (R) Statement
14 (T) Ch.4: Adjustments, Financial Statements, and
16 (R)
21 (T)
Financial Results
M: 2, 4, 13, E: 7
M: 20, E: 21
M: 1, 5, 6, 11
M: 12, 13, 14, 15
Ch. 1–4 Midterm Exam 1
23 (R) Ch.5: Financial Reporting and Analysis
28 (T) Ch.6: Internal Control and Financial Reporting for
3/1 (R) Cash and Merchandise Sales
5-9 Spring Break
13 (T) Ch.7: Reporting and Interpreting Inventories and
15 (R) Cost of Goods Sold
M: 6, 10, 12, 13, 14
M: 4, 6, 8, 9, E: 6
M: 16, E: 13, 14
E: 1, 3, 7, 10
E: 15, 16, 17, 22
M: 3, 16
E: 11, 12
E: 3, 15, 16
M: 8, E: 5, 16
M: 2, 3
E: 5, 11, 17
PA: 1, 3, 4
20 (T) Review
22 (R) Ch. 5-7 Midterm Exam 2
27 (T) Ch.8: Reporting and Interpreting Receivables, Bad
29 (R) Debt Expense, and Interest Revenue
4/3 (T) Ch.9: Reporting and Interpreting Long-Lived
5 (R) Tangible and Intangible Assets
M: 1, 3, E: 1, 2, 7
M: 11, 13, E: 10, 16
M: 12
E: 4, 9, 12
M: 3, 4, 5, 6, 7, E: 2, 6 M: 9
M: 12, 13, E: 11 E: 3, 7, 12, 14
10 (T)
12 (R)
Ch.10: Reporting and Interpreting Liabilities
17 (T) Review
19 (R)
M: 1, 7, 9, 14, 16
E: 2, 8, 11, CP: 10
Ch 8-10 Midterm Exam 3
M: 6, 10
E: 5, 6, 14
24 (T) Ch.11: Reporting and Interpreting Stockholders’
26 (R) Equity
5/1 (T) Ch.12: Reporting and Interpreting the Statement
5/3 (R) of Cash Flows
5/9 (W)
M: 4, 5, 9, 12, E: 1, 3, 8 M: 13
M: 14, 17, E: 6, 10, 12
M: 2, 3, 9, E: 2, 3, 10
E: 16, 18, 25, CP: 3
Final Exam 1:00-3:00pm (Ch. 1-12)
E: 2, 4, 14
E: 1, 6, 19
PA: 4, 7
M: mini-exercises; E: exercises; CP: coached problems; PA: problem set A.
* Homework is due 6:00am in the class day following the finish of the chapter.
January 30 - Last day to drop a course without a grade.
February 14 - Last day to drop a course with a “W”. Your instructor will NOT approve any withdrawal after the withdrawal deadline. For medical withdrawal, contact registrar’s office.
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