ACC 240 - PRINCIPLES of FINANCIAL ACCOUNTING
T, TH: 1:00 - 3:40, Room 326 Owen
Eastern Michigan University
Spring 2007 Syllabus
Instructor: Dr. Daniel R. Brickner Office Hours: T, TH: 12: 30 - 1:00 p.m.
Office: 440 Owen T, TH: 3:45 - 4:15 p.m.
Office Phone: 734-487-0075 T, TH: 5:00 - 6:00 p.m.
Dept Phone: 734-487-3320 (and by appointment)
e-mail:
NOTE: It is each student’s responsibility to read this syllabus and the ‘Department of
Accounting Departmental Policies for ACC 240 Students’ handout in their entirety so
that he/she understands the class policies by which he/she will be held accountable.
PERFORMANCE EVALUATION: Final course grades will be determined on a total point basis. Listed below is a projection of the available points in the course:
Projected Projected Projected
Points Bonus Maximum
for Grade Points Points
Determination Available Possible
Exam No. 1 (Chapters 1-4) 116 6 122
Exam No. 2 (Chapters 5-7) 68 4 72
Exam No. 3 – Final (Chapters 8, 9, 11, and 13) 94 6 100
Computer Project #1 15 15
Computer Project #2 15 15
Computer Project #3 20 20
Homework Exercises and Problems (5 pts. each) 40 10 50
Total 368 26 394
(Note: Actual points assigned to individual assignments and exams as well as total points
possible in the course may differ from the above projection.)
GRADING SCALE:
Final course grades will be assigned based on the following scale:
Grade % Grade % Grade % Grade %
A 93 - 100 B 83 - 86.99 C 73 - 76.99 D 63 - 66.99
A- 90 - 92.99 B- 80 - 82.99 C- 70 - 72.99 D- 60 - 62.99
B+ 87 - 89.99 C+ 77 - 79.99 D+ 67 - 69.99 E < 60
EXAMS:
I will discuss the composition and expected format prior to each exam. Additionally, prior to the first exam, I will pass out an ‘Exam Information’ sheet that specifies some class policies and procedures on exam dates. I reserve the right to assign seating both at the start of and/or during each of the exams. Make-up exams will only be granted if an extremely extenuating circumstance arises which is documented and can be verified. The instructor should be notified immediately upon such an occurrence.
HOMEWORK:
Homework assignments are classified in the text as Questions (Q), Mini-Exercises (M), Exercises (E), Problems (P), Alternative Problems (AP), and Cases and Projects (CP) and can be found at the
end of each chapter. A mixture of these classifications will be assigned for homework, and I will announce each chapter’s assignment as the semester progresses. Additionally, homework problem handouts may be assigned during the semester. Like the assignments from the text, these problems would be subject to being collected and graded. No credit will be given if the wrong assignment is submitted.
Students are expected to have completed the homework assignments prior to the class session. The solutions to these assignments will be reviewed in class. The in-class review time is intended for a quick check of and questions about the solutions. Each homework assignment turned in should have the student's name and section number in the upper right hand corner of each page submitted. If the solution to a homework problem requires the use of multiple pages, they should be stapled prior to being turned in. ALL HOMEWORK IS REQUIRED TO BE TYPED. Therefore, based on the nature of the assignment, the homework exercises and problems should be completed using either word processing software (such as Microsoft Word) or spreadsheet software (such as Microsoft Excel). HOMEWORK THAT IS NOT TYPED WILL NOT BE ACCEPTED. In addition, in grading the assignment, I will disregard any handwritten information on a typed solution. (FYI: The College of Business Computer Lab is located in room 101 Owen. In order to save time and increase your efficiency, I strongly recommend that you do your original work on the computer as opposed to writing it out first and then typing what you’ve written.)
Grades for homework exercises and problems will be primarily based on the level of completion of the assignment, the overall logic displayed in the solution, and the overall neatness and professionalism of the submission. YOU ARE REQUIRED TO SHOW ALL OF YOUR WORK AND CALCULATIONS IN EACH ASSIGNMENT. Solutions requiring a written response should be written in complete sentences with proper grammar and spelling. Points could be deducted for such errors. I plan to collect ten (10) of these assignments periodically on the due date on a random/surprise basis. Each collected assignment will be worth 5 points, resulting in 50 points possible for homework. However, only eight assignments, or 40 points, will be used in the denominator in computing course grades, thus resulting in two bonus assignments for an opportunity to earn 10 bonus points for homework over the course of the semester.
LATE HOMEWORK NOT ACCEPTED:
Any homework assignment submitted late (i.e., after it is collected in the class in which the student is registered) will not be accepted for any reason. The reason for including two bonus homework assignments is to allow for illness, family emergencies, car trouble, etc. If for some reason you know that you will not be able to attend class on a day in which homework is due and thus, possibly collected, you’ll have a one-time opportunity to turn in your assignment on a day that you are unable to attend class. Under such a scenario, you’ll have to make sure that it is submitted to me prior to the class time, whether you email it to me or send it in with a friend. If it is emailed to me, it must be in a form readable by me (i.e., your solution should either be typed in the text of your email or your homework should be in a file attached to the e-mail in either Microsoft Word or Microsoft Excel).
COMPUTER PROJECTS:
Three computer projects will be assigned during the semester. These assignments are designed to develop both your computer skills in the context of financial accounting information and your written communication skills. You will need to go to the following website to obtain a description of these assignments: http://www.computerprojects.info. Due dates for these assignments will be announced in class. Points will be deducted if a computer project assignment is submitted late. Note: The one-time email option does not apply to computer projects.
CLASS ADMINISTRATION:
ATTENDANCE:
One of the key predictors of success in this course is regular attendance and participation each class period. There will be opportunities to earn attendance-related bonus points during the semester; yet, these opportunities will only be available if you attend the section in which you are registered.
ACADEMIC HONESTY:
When a student submits an assignment (whether it is an exam, computer project, or homework), he/she is purporting that assignment to be his/her own work. Submission of an assignment which is not the work of the student is considered academic dishonesty. Cheating on exams or other academic dishonesty is regarded as a serious offense against the University, and especially your fellow students. Therefore, this conduct will be dealt with under strict accordance with the university’s student rules of conduct, and a course grade of ‘E’ may be assigned for such dishonesty. [Please note that while I encourage students to study and confer with each other, the homework and computer project assignments that you submit must be YOUR OWN, UNIQUE WORK. Thus, for example, I should see no similarity between your submission and that of another student. If it is apparent that your submission is not unique, no credit will be given for the assignment.]
ACCESSING COURSE NOTES:
The primary lecture notes for this course can be found at my website: http://danbrickner.pageout.net. You can access the course notes at this site as follows: 1) Click on ‘Accounting 240 – Principles of Financial Accounting’ 2) Click on ‘Syllabus’ 3) Scroll down and click on ‘Accounting 240 Notes’ 4) Click on the chapter notes that you want. (Notes: These notes are in Microsoft Word, and you should be able to print/download them. Accessing these files using Explorer instead of Netscape is recommended.)
CONDUCT:
As aspiring business professionals, you will be expected to conduct yourself in a professional manner. Any form of class disruption will not be tolerated. Examples of class disruption include (but are not limited to): arriving late, leaving early, talking during class, sending or receiving emails or text messages, and reading the newspaper. If you bring a laptop to class, it can only be used during class time for class-related purposes. Also, video/audio recording of class lectures is prohibited. Furthermore, please note that you are not permitted to bring someone to class who is not registered in this course (e.g., a friend or a child). Violating these class policies by a student can lead to the forfeiture of all of his/her attendance-related bonus points earned during the semester in the computation of final course grades.
Ethos Statement
Eastern Michigan University
College of Business
The College of Business students, faculty and staff comprise a professional, interdependent community committed to perfecting responsible, ethical business professionals to serve business and the wider world. Through a positive learning experience mirroring the business world’s best aspects, the community respects the group’s common mission and the individuals comprising it. Community members foster the COB ethos through behavior growing from six interrelated values:
1) Integrity
Integrity is practicing in all areas of life what we profess to believe. It is commitment to professional standards in the whole person.
2) Honesty
Honesty requires respect for the truth; it means being truthful, sincere, and straightforward.
3) Trustworthiness
Growing out of integrity and honesty, trustworthiness is the confidence others have that we mean what we say; we can be counted on.
4) Respect
Respect is deference or esteem for what we value. We recognize others’ worth as ends, not means. Respect is key to our other values.
5) Learning
We value learning as an end in itself and as a practical tool for success in lifelong professional growth. We gain up-to-date, practical and theoretical knowledge through effective, often participative learning and research.
6) The Work Ethic
We practice self reliance and responsibility to our business profession and community. We are industrious and often self supporting.
ACCOUNTING 240: SPRING, 2007
TENTATIVE COURSE OUTLINE
DAY DATE CH. TOPIC
T MAY 8th 1 Financial Statements and Business Decisions
TH MAY 10th 2 Investing and Financing Decisions and the Balance Sheet
T MAY 15th 3 Operating Decisions and the Income Statement
TH MAY 17th 3 Operating Decisions and the Income Statement
4 The Adjustment Process and Financial Statements
T MAY 22nd 4 The Adjustment Process and Financial Statements
5 Communicating and Interpreting Accounting Information
TH MAY 24th 5 Communicating and Interpreting Accounting Information
T MAY 29th EXAM 1 --- CHAPTERS 1-4
6 Reporting and Interpreting Revenue, Receivables, and Cash
TH MAY 31st 6 Reporting and Interpreting Revenue, Receivables, and Cash
7 Reporting and Interpreting Cost of Goods Sold and Inventory
T JUNE 5th 7 Reporting and Interpreting Cost of Goods Sold and Inventory
8 Reporting and Interpreting Property, Plant, and Equipment
TH JUNE 7th 8 Reporting and Interpreting Property, Plant, and Equipment
NOTE: MONDAY, JUNE 11TH IS THE LAST DAY FOR INDIVIDUAL
CLASS WITHDRAWAL FROM THIS COURSE
T JUNE 12th EXAM 2 --- CHAPTERS 5-7
9 Reporting and Interpreting Liabilities (p. 460 – 477)
TH JUNE 14th 11 Reporting and Interpreting Owners’ Equity
T JUNE 19th 13 Statement of Cash Flows
TH JUNE 21st 13 Statement of Cash Flows
T JUNE 26th FINAL EXAM --- CH. 8, 9, 11, and 13
NOTE: The instructor reserves the right to change the tentative course outline as deemed necessary.
Any significant deviation or change to the outline will be announced in class. If a student is
absent from class, it is his/her responsibility to find out if there were any additional
assignments announced in that class as well as any changes to the course outline.
UNIVERSITY CLOSINGS:
For information related to the possible closing of the university (e.g., due to severe weather), please contact EMU Information at 487-1849, the EMU Newsline at 487-2460, check the EMU web site at ‘www.emich.edu’, or listen to WEMU 89.1 FM. If a class or classes are canceled (e.g., due to severe weather), it may result in the total points possible for individual exams and the course being worth less than what is projected on the first page of this syllabus. Additionally, on the day we return to school, we will do what was scheduled on the first day we missed. (e.g., if class is cancelled on an exam day, then the exam will be held on the day we return.).
STUDY GUIDE FOR ACCOUNTING STUDENTS:
1. Read the textbook. Read the appropriate chapter before coming to class. Assignments tend to build on previous ones. Read to understand “why” as well as “how.” Build a list of words, concepts, paragraphs, or pages that are troublesome, and check these off as you resolve them. Create a one-page summary of each chapter using pictures (e.g., boxes, arrows, timelines, and circles) more than words to show the relationship among key issues.