Accountancy I (20100) –Spring 2013
Department of Accountancy
University of Notre Dame
I.ProfessorContact Information
Professor: Jeffrey J. Burks, PhD
Office Location:Mendoza 385
Office Hours:Any time by advanced notice, or drop in Monday/Wednesday, 4-5 pm
Phone #:631-7628 (office)
E-mail Address:
II.Required Course Materials
Textbook: Financial Accounting by Libby, Libby and Short, Seventh Edition, (McGraw-Hill), 2011. This textbook comes in a loose-leaf version and a hardback version.
E-Reserve:
Course website: When registering, the answer to the security question is ryan.
Calculator:Calculators are necessary at times during the course. Calculators may be used during exams for calculations only.
Recommended:
Subscription to The Wall Street Journal. Student subscriptions can be purchased at (around$30 for semester, includes print and digital)
III.Course Goals and Objectives
The overall goal for the two-semester Accountancy sequence is to develop the ability of students to use accounting information in various economic decision-making contexts, as well as to understand the scope of services provided by accounting professionals.
Upon completion of Accountancy I and II, students will understand:
$Business entities and the activities they undertake:
Readings provide broad exposure to the forces acting on businesses; the assignments and the use of cases will require the student to simulate business activities.
$Accounting as a broad information discipline:
The information perspective of accounting is emphasized throughout the sequence. Most major functional areas of accounting are covered.
$The decision-usefulness of accounting information:
The primary objective of accounting is to provide useful information for decision-making. Accounting information usefulness is examined for operating, investing, and financing decisions.
$The nature of contractual relations among business parties as a means for determining accounting information requirements:
Accounting information is frequently used to ensure that parties are keeping their business promises.
$The integrity required of accountants:
The ethical components of contract performance and the accountant=s role in contract enforcement will be considered in cases and assignments. Accountants must not only be ethical, but often must attest that others are as well.
Upon the completion of Accountancy I, the student will be expected to understand:
$How to record transactions that measure a business= economic activity.
$How to process and summarize transactions into financial statements that communicate the results of an entity’s activities to its users.
$How to prepare and interpret the four basic financial statements:
Statement of Financial Position (Balance Sheet)
Statement of Operations (Income Statement)
Statement of Stockholders’ Equity
Cash Flow Statement
In the process of learning to use accounting information in decision-making, students will:
$Improve oral and written communication skills through daily participation and assignments that require analysis and written feedback.
$Improve group interaction and team-building skills by completing the assigned group projects.
$Enhance critical thinking skills in the learning process by actively participating in group and classroom activities.
$Apply major concepts, ideas and tools to problem solving situations.
IV.Grading
Students’ grades will be determined based on the total points earned for the following items:
Group Assignments(2) 50 pts.
In-class Quizzes (6) 35 pts.
Concourse Article Quizzes (7) 15 pts.
Participation/Attendance 25 pts.
Excel Assignments (5) 25 pts.
Assessment Pre-test 5 pts.
Midterm Exam 1125 pts.
Midterm Exam 2125 pts.
Final Examination150 pts.
Total: 555 pts.
The course instructors collaborate to assure consistency in grading across sections. However, each instructor will determine the grades for his or her sections. Note the Mendoza College of Business requires that each instructor’s combined sections have an average GPA of 3.1-3.2. Final grades will be set to achieve this required GPA.
V.Course Organization & Administration
Preparation: Read the assigned readings and attempt the “potential in-class problems” before class. This initial exposure to the material will help you follow the lecture.
Participation:It’s important to develop the ability to form and respond to questions in the presence of peers. Articles and in-class problems will be a basis for class discussion.
Your participation grade is based on your attendance and contribution to in-class discussions. Students that receive high participation grades are well-prepared, make frequent, meaningful comments, and demonstrate logical thinking. These students are also considerate of other members of the class and do not monopolize class time. Students that receive low participation grades come to class unprepared, make few comments of any kind, do not respond when called upon, and miss class.
Attendance/tardiness/other disruptions:Students are expected to attend every class. Please come to class on time so as not to distract your classmates. Just as coming in late disrupts class, so doesleaving in the middle of class for a “break.” Please be considerate of your classmates and leave the room only in the rare event ofa personal emergency.
Students with four or more unexcused absences will receive zero participation points. Unexcused absences include absences for job interviews. Students who believe the three-absence limit presents an undue burden because of unique circumstances should discuss this with the professor before the absences occur. Threetardies = one unexcused absence. A tardy is defined as arriving to class after the instructor has taken attendance. A running attendance/tardy count will be posted on Concourse. Errors in the count must be brought to the instructor’s attention within seven days.
Cellular Devices: Cellular phones must be set to “off” or “silent” during examinations and class.
Text messaging during class is not permitted. Laptops are not to be used during class.
These devices must not be used as calculators or clocks and must be stowed out of sight during examinations.
Back-of-chapter exercises. It is virtually impossible to do well in this class without doing the problem sets diligently and promptly. I urge you to keep up with the homework assignments to give yourself every opportunity to enjoy the course and learn the material. Answers to the homework will be posted online so that you can check your work. The instructor does not plan to collect and grade the exercises, but reserves the right to change this policy.
Quizzes: To help students to keep up with the course work, therewill be seven Concourse quizzes and six in-class quizzes during the semester (dates listed in the course schedule).
Concourse quizzes: These cover basic information from the articles that are assigned for that day’s class. The quizzes can be completed on Concourse within the week before we are to discuss the article in class (they must be completed by 9:00 am on the day we are to discuss the article in class). They consist of three multiple choice or true/false questions. Read the articles carefully before beginning the quiz because you have only 15 minutes to complete the quiz once you begin. You may refer back to the articles as you take the quiz. You may not collaborate with anyone else on the quizzes. Your lowest score for the semester will be dropped.
In-class quizzes: These cover lecture and textbook information from prior classes. For some quizzes, students will retake the quiz in groups after taking it individually, and the two scores will be averaged (unless the group quiz score is lower, in which case only the individual score will be used). Your lowest quiz score for the semester will be dropped.
Group Assignments: Groups of students will be organized by the instructor early in the semester. Projects will be distributed in class; due dates are listed in the course schedule. Each group is to work independently of all other course groups.
Peer Evaluations: Students are required to complete a peer evaluation form for each group assignment. The form is attached herein. The instructor may change an individual student’s grade for the assignment based on these forms and discussion with the student.
Excel Assignments: Five Excel assignments will be assigned throughout the semester. Assignments MUST be completed in Microsoft Excel, not any other spreadsheet program. Excel assignments and related templates can be downloaded from the ACCT 20100 website ( Each template is individualized with an ID code for each student. It will be assumed a violation of the Honor Code if you use a template with some else’s ID code. All Excel assignments are self-grading. Your instructor will provide you with details of how they wish to collect these assignments. You must follow your instructor’s instructions to receive credit. Failure to follow the instructions on each assignment will result in a zero grade for the assignment.
Late Work: Work submitted to the instructor after the day and time indicated by the instructor without official Notre Dame Approval will be assigned a penalty by the instructor.
Exams: Common exams will be given. The instructors evaluatetheir sections’ exams. It is course policy that students must document sufficient official Notre Dame Approval before taking an exam at an alternative time for full credit. If a student arrives late to an exam and is unable to finish by the exam’s conclusion, the student may be allowed additional time at the instructor’s discretion. Work completed after the exam’s conclusion will be assessed a 20% penalty. If a student misses an entire exam without the aforementioned approval, the instructor will use his or her discretion to decide whether or not to give the exam at a later time on the exam date. In this case, there will be an automatic penalty of 20% of total exam points.
Assessment Pre-test:
You will be required to take an on-line assessment during the first week of class. To receive the 5 points, you must complete both the pre-test by the due date listed on the course calendar.
- The Academic Code of Honor:
“As a member of the Notre Dame community,
I will not participate in or tolerate academic dishonesty”.
Expectations with regard to Academic Integrity follow:
Students will not give or receive aid on exams. This includes, but is not limited to, viewing the exams of others, sharing answers with others, using books or notes while taking the exam, and use of cell phones or programmable calculators in unauthorized usage. It also includes discussing the exam in order to help those who are taking it later.
For case assignments involving groups, groups must work completely independentlyof other individuals, or groups. Each member of a group has an obligation to ensure that the workload is shared by all members for each assignment. Students are expected to avoid plagiarism, including the use of material from previous semesters. Seefor rules on appropriate citations. Notre Dame’s Writing Center is an excellent resource for researching and structuring written assignments.
The honor code requires that a student, with knowledge of the above violations, report such occurrences. If a perceived honor code violation occurs, the procedures outlined in the Student Guide to the Academic Codes of Honor, , will be followed.
* * * * * * * * * * * * * ** * * * * * * *
To the extent possible, the instructors will follow the daily class schedule of assignments.
The schedule may be altered (add, delete, change timing, etc.) in order to enhance student learning opportunity or for other reasons.
Day / Date / Class # / In-Class Activities / Non-Textbook Assignments / Reading assignments (to be completed before that day's class) / Turn inT / 1/15/2013 / 1 / Introduction
eReserve:
ACCT 20100 website:
Textbook website: / Student information sheet
Assessment pre-test (Complete online, due Friday, 5:00 pm)
H / 1/17/2013 / 2 / Chapter 1: Financial Statements and Business Decisions / Read Chapter 1, p. 2-26
U.S. Undecided on Switch to Global Accounting
Accounting Panel Expresses Regret Over U.S. Stance
Q4, Q7, Q8, Q9, Q11, Q19
E1-1, E1-3, E1-5, E1-11, E1-13, P1-1, P1-3
CP1-5, CP1-6 / Student Info Sheet
Concourse: Article 1 Quiz, due 9:00 am (this one is for practice, not graded)
Assessment pre-test due Friday, 5:00 pm
T / 1/22/2013 / 3 / Chapter 2: Investing and Financing Decisions and the Balance Sheet
CHAPTER 1 QUIZ (INDIVIDUAL) / Read Chapter 2, p. 46-67
Potential in-class problems: E1-11
Q1, Q2, Q3
Q13, Q14
P2-1
E2-2, E2-4, E2-6, E2-8, E2-9, E2-13, E2-14, E2-16, E2-17, E2-18
P2-5
H / 1/24/2013 / 4 / Chapter 2: Investing and Financing Decisions and the Balance Sheet / Read Chapter 2, p. 68-77
Potential in-class problems: E2-13, P2-5
T / 1/29/2013 / 5 / Chapter 3: Operating Decisions and the Income Statement
CHAPTER 2 QUIZ (INDIVIDUAL/GROUP) / Read Chapter 3, p. 100-134
Q2, Q4, Q6, Q7, Q10, Q11, Q12
E3-2, E3-3, E3-4, E3-5, E3-9, E3-10, P3-2
E3-13, E3-14, P3-4
H / 1/31/2013 / 6 / Chapter 3: Operating Decisions and the Income Statement / FASB, as Expected, Approves Accounting Changes that Benefit Tech Companies
Accounting Shift Would Lift Tech Profits
Potential in-class problems: E3-13, P3-2 / Concourse: Article 2Quiz, due 9:00 am
T / 2/5/2013 / 7 / Chapter 4: Adjustments, Financial Statements, and the Quality of Earnings
CHAPTER 3 QUIZ (INDIVIDUAL) / Excel Assignment #1 (due 2/12) / Read Chapter 4, p. 161-176
Potential in-class problems: P4-2
Q3, Q4, Q12
E4-3, E4-4, E4-5, E4-12, E4-14, E4-18
P4-1, P4-2, P4-4
P4-7
E4-2, COMP4-1
H / 2/7/2013 / 8 / Chapter 4: Adjustments, Financial Statements, and the Quality of Earnings / Read Chapter 4, p. 177-194
Potential in-class problems: P4-7
T / 2/12/2013 / 9 / Q&A for exam 1, chapters 1-4 / Excel #1
H / 2/14/2013 / Exam 1 (chapters 1-4), tentative time is 7:45-9:15 AM. Also possible that exam will be Wednesday evening.
H / 2/14/2013 / 10 / No class – comp day for exam
T / 2/19/2013 / 11 / Chapter 5: Communicating and Interpreting Accounting Information / Group Assignment #1 (due 2/28) / Read Chapter 5, p. 228-257
To Wash Hands of Palm Oil, Unilever Embraces Algae
Unilever Takes Palm Oil in Hand
Q1, Q8, Q10, Q11, Q13
E5-3, E5-4, E5-17
P5-2, P5-6, P5-7 / Concourse: Article 3Quiz, due 9:00 am
H / 2/21/2013 / 12 / Chapter 6: Reporting and Interpreting Sales Revenue, Receivables, and Cash / Read Chapter 6, p. 278-292
Cutting Reserves; Banks Cite Improving Conditions in Loan-Loss Recalibration
Potential in-class problems: E6-18
Q5, Q7, Q8, Q9
E6-3, E6-4, E6-9, E6-11, E6-12, E6-13, E6-18
P6-1, P6-5
Q12, Q13
E6-20
P6-2 / Concourse: Article 4Quiz, due 9:00 am
T / 2/26/2013 / 13 / Chapter 6: Reporting and Interpreting Sales Revenue, Receivables, and Cash / Read Chapter 6, p. 292-297, 304-305
Potential in-class problems: P6-5
H / 2/28/2013 / 14 / Chapter 7: Reporting and Interpreting Cost of Goods Sold and Inventory / Excel Assignment #2 (due 3/7) / Read Chapter 7, p. 330-342, 359-360
Potential in-class problems: P7-2
Q2, Q5, Q7
E7-2, E7-3, E7-5, E7-6
Q8, Q9, Q10
E7-9, E7-12, E7-14
P7-2, P7-4
E7-16, E7-19
P7-9
Problems posted on ACCT20100.com (suggest P6-1A) / Team Assignment #1
T / 3/5/2013 / 15 / Chapter 7: Reporting and Interpreting Cost of Goods Sold and Inventory
CHAPTER 5 AND 6 QUIZ (INDIVIDUAL/GROUP) / Read Chapter 7, p. 342-357
H / 3/7/2013 / 16 / Chapter 7: Reporting and Interpreting Cost of Goods Sold and Inventory / In-class game – bring cell phone / Excel #2
T / 3/12/2013 / Spring break
H / 3/14/2013 / Spring break
T / 3/19/2013 / 17 / Chapter 8: Reporting and Interpreting Property, Plant, and Equipment; Natural Resources; and Intangibles
CHAPTER 7 QUIZ (INDIVIDUAL/GROUP) / Read Chapter 8, p. 386-404
E8-3, E8-4, E8-7, E8-8, E8-11
P8-1, P8-3 (eXcel)
E8-13, E8-14, E8-15, E8-17
P8-8, P8-10
E8-22
P8-11
H / 3/21/2013 / 18 / Chapter 8: Reporting and Interpreting Property, Plant, and Equipment; Natural Resources; and Intangibles / Excel Assignment #3 (due 3/28) / Read Chapter 8, p. 404-420
Potential in-class problems: E8-11
T / 3/26/2013 / 19 / Chapter 8: Reporting and Interpreting Property, Plant, and Equipment; Natural Resources; and Intangibles / Liz Claiborne Must Say Adieu to Liz
McComb Played a Bad Hand Well
Potential in-class problems: E8-14, P8-8, E8-22 / Concourse: Article 5Quiz, due 9:00 am
H / 3/28/2013 / 20 / Chapter 9: Reporting and Interpreting Liabilities / Read Chapter 9, p. 454-471
SEC Probes Groupon
Groupon Forced to Revise Results
E9-4, E9-5
P9-2, P9-4, P9-5, P9-7, P9-8
E9-18, E9-22
P9-11, P9-12 / Excel #3
Concourse: Article 6Quiz, due 9:00 am
T / 4/2/2013 / 21 / Q&A for exam 2, chapters 5-8
H / 4/4/2013 / Exam 2 (chapters 5-8), tentative time is 7:45-9:15 AM. Also possible that exam will be Wednesday evening.
H / 4/4/2013 / 22 / No class – comp day for exam
T / 4/9/2013 / 23 / Chapter 9: Reporting and Interpreting Liabilities
Chapter 10: Reporting and Interpreting Bonds / Read Chapter 9, p. 471-478
Read Chapter 10, p. 504-522
E10-1, E10-4, E10-9, E10-10
P10-7
E10-17, E10-18, E10-22, E10-23
P10-12
H / 4/11/2013 / 24 / Chapter 10: Reporting and Interpreting Bonds / Excel Assignment #4 (due 4/23) / Read Chapter 10, p. 523-532
Sbarro Hires Bankruptcy Lawyers
Potential in-class problems: P10-7 / Concourse: Article 7Quiz, due 9:00 am
T / 4/16/2013 / 25 / Chapter 11: Reporting and Interpreting Owners’ Equity
CHAPTER 9 AND 10 QUIZ (INDIVIDUAL) / Read Chapter 11, 550-569
E11-3, E11-4, E11-7, E11-9, E11-13, E11-14, E11-15, E11-18, E11-22, E11-24, E11-27
P11-7, P11-9, P11-10
H / 4/18/2013 / 26 / Chapter 11: Reporting and Interpreting Owners’ Equity / Apple Pads Investor Wallets
Google Preserves Cash and Control
Google Founders Get Out the Vote
Potential in-class problems: E11-15, P11-9 / Concourse: Article 8Quiz, due 9:00 am
T / 4/23/2013 / 27 / Chapter 13: Statement of Cash Flows
Operating activities: indirect and direct methods / Group Assignment #2 (due 4/30) / Read Chapter 13, p. 636-652, 660-663
E13-1, E13-3, E13-7, E13-8, E13-11, E13-14, E13-20, E13-21
E13-13, E13-15, E13-16, E13-18
P13-1, P13-2, P13-3 / Excel #4
H / 4/25/2013 / 28 / Chapter 13: Statement of Cash Flows / Excel Assignment #5 (due 5/3) / Read Chapter 13, p. 652-660
Potential in-class problems: P13-1
T / 4/30/2013 / 29 / Q&A day for final exam / Potential in-class problems: P13-3
Group Assignment #2 due today.
Excel #5 due Fri, 5/3
T / 5/7/2013,
7:30-9:30 PM / Final Exam, Chapters 9, 10, 11, 13 and selected material from Exams 1 and 2
ACCOUNTING 20100
PEER EVALUATION FORM
Names of your group members (list yourself first).
a.______yourself
b.______
c.______
d.______
e.______
Performance
State whether you agree (A) or disagree (D) with the following statements about each member. Please explain all “D” responses below or in the blank space to the right of the statement. The letter corresponds to the student’s name above. Be sure to rate yourself for all questions except #7.
1. Reliable for meetings
a.______b.______c.______d.______e. ______
2. Reliable with meeting deadlines for work in progress and final project
a.______b.______c.______d.______e. ______
3. Contributes ideas to the group
a.______b.______c.______d. ______e. ______
4. Respects each group member's opinions
a.______b.______c.______d.______e ______
5.Assumes fair share of responsibility
a.______b.______c.______d.______e. ______
6. Competently performs his/her share of the work
a.______b.______c.______d.______e.______
7.If given the opportunity, I would like to work with this person again.
b.______c.______d.______e.______
Explanations for “D” responses:
I represent that the above answers are truthful, and understand that untruthful answers constitute a violation of my pledge to abide by the Academic Code of Honor.
Signed ______Date ______Email ______
Student Information Sheet
Name ______
Dorm ______
Thinking about or actually majoring in ______
Hometown ______
Employment (if any) and hours per week ______
Other campus activities (if any) and hours per week ______
Do you know how to use Excel? Is your level beginner, intermediate, or advanced?
______
Favorite book, movie, tv show, or band ______
Favorite thing about Notre Dame
Interesting fact about yourself
Why are you taking this course?