JOHNS HOPKINS UNIVERSITY CENTER FOR LEADERSHIP EDUCATION THE WILLIAM P. CAREY PROGRAM IN ENTREPRENEURSHIP AND MANAGEMENT FINANCIAL ACCOUNTING, 660.203.02, SPRING 2012 MW Noon to 1:15pm Shaffer 2 INSTRUCTOR: COURSE ASST: Annette Leps, CPA, MBA Center for Leadership Education Rm. 102, Whitehead Hall, x 7113 Email: aleps@jhu.edu Office Hours: MON 10:30 to 11:30AM TUES 1:30 to 2:30 PM WED 10:30 to 11:30AM & by appointment Jenny Lenz (jlenz2@jhu.edu); Stephen Sihelnik (ssihelnik1@gmail.com) Office Hours: TBA 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. Because accounting is described as the language of business, this course emphasizes the vocabulary, methods, and processes by which all business transactions are communicated. The accounting cycle, basic business transactions, internal controls, and preparation and understanding of financial statements including balance sheets, statements of income and cash flows are covered. REQUIRED TEXT: Libby, Libby & Short, Financial Accounting, 7th edition, 2011, McGraw-Hill/Irwin. ISBN 978-0-07-811102-0. COURSE OBJECTIVES: This course seeks to provide the undergraduate business student with a foundation in financial accounting. Upon completion of this course, the student will be fully capable of analyzing basic financial statements. Specifically, a student who successfully completes this course should be capable of analyzing: a. Business transactions for proper accounting b. The accounting cycle c. Elements of profit and loss d. Financial assets, e. Inventories f. Plant assets g. Liabilities h. Changes in equity i. Cash flows
STUDENT RESPONSIBILITIES & CLASS POLICIES: (1) This is a rigorous course. As such, class attendance is vital to the successful completion of this course. Students are expected to come to class having read the chapter material referenced. (2) Students are expected to take all examinations and to complete all assignments on the required dates. Conflicts or other issues must be brought to the attention of the instructor before the scheduled test time. Make-up exams may be arranged only at the discretion of the instructor and the Department. (3) Short in-class and take home quizzes covering lectures and homework materials will be given over the course of the semester. There will be no opportunity for students to make up missed quizzes. However, the two lowest quiz grades will not be used in the grade calculation. (4) This course is on Blackboard. The site will be used to deliver homework solutions, special instructional information, course announcements, and other items of student interest. Please monitor the course site regularly. Individual grades will be posted on Blackboard and any discrepancies must be brought to the attention of the CA for resolution before May 4, 2012. (5) It is the responsibility of the student to obtain notes and assignments from colleagues for any classes that were missed. (6) Non-graphing, non-programmable calculators are permissible for use during all exams and quizzes. (7) Calculators and the Wal*Mart and Carrefour financial statements (provided by me) must be brought to class (8) No Senior Options will be offered. COLLEGE POLICY REGARDING STUDENT DISABILITIES: If you have a disability that requires special testing accommodations or other classroom modifications, please present a letter from Dr. Richard Sanders (Director of Academic Advising in Arts & Sciences) stating the disability and the exact accommodations needed. I will do my best to accommodate you in any way. Please do not be shy about coming forward. ACADEMIC 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 the Internet and electronic devices, unauthorized collaboration, alteration of graded assignments, forgery and falsification, lying, facilitating academic dishonesty, and unfair competition. Report any violations you witness to the instructor. You may consult the Associate Dean of Student Affairs and/or chairman of the Ethics Board beforehand. See the guides on Academic Ethics for Undergraduates and Ethics Board Website (http://ethicsjhu.edu) for more information.
EVALUATIONS: A 90-100 B 80-89 C 70-79 D 60-69 F Below 60 Pluses and minuses will be used at the discretion of the instructor. GRADING: Test 1 20% Test 2 20% Test 3 20% Final Exam 30% Class attendance, participation, & homework quizzes 10% Total 100% SECOND CHANCE POLICY: The material for the course builds on itself; therefore, it is important to understand the material from the earlier chapters to be able to understand the material from the later chapters. Given this situation, if your final exam grade is higher than your lowest test grade, the final exam grade will substitute for that test grade. In other words, the final would be weighted 50%. The weights of other tests, class participation, attendance, and homework quizzes would remain the same. The Instructor reserves the right to change topics and assignments as needed depending upon class progress.
JOHNS HOPKINS UNIVERSITY FINANCIAL ACCOUNTING Date Subject Ch. Exercises 1/30 Financial Statements & Business Decisions 2/1 Financial Statements & Business Decisions 1 E1-3 1 E1-6, E1-7, P1-1 2/6 Investing & Financing Decisions & the Balance Sheet 2/8 Investing & Financing Decisions & the Balance Sheet 2, p.708 2 p.708 M2-4, M2-6, E2-3, P2-1, M2-3, M2-5 E2-5, E2-12, E2-13, P2-2, M2-1, M2-2 2/13 Operating Decisions & the Income Statement 2/15 Operating Decisions & the Income Statement 2/20 Adjustments, Financial Statements, & the Quality of Earnings 2/22 Adjustments, Financial Statements, & the Quality of Earnings 2/27 Communication & Interpreting Accounting Information 2/29 TEST #1 (THROUGH CH.4) 3/5 Reporting & Interpreting Sales Revenue, Receivables, & Cash 3/7 Reporting & Interpreting Sales Revenue, Receivables, & Cash 3/12 Reporting & Interpreting Costs of Goods Sold & Inventory 3/14 Reporting & Interpreting Costs of Goods Sold & Inventory 3 E3-2, E3-3, E3-4, E3-5 3/4 E3-6, E3-7, P3-1, P3-2 4 M4-4, M4-5, M4-6, M4-7, E4-6, E4-7 4 E4-8, P4-2, E4-17, E4-18, E4-19 5 E5-1, E5-2, E5-5, E5-6, E5-11, P5-8, E5-10, E5-17 6 E6-1, E6-2, E6-6, E6-7 6 E6-8, E6-14, AP6-1, AP6-3 7 M7-5, E7-1, E7-5, E7-9, AP7-1, M7-7, M7-8 7 E7-4, E7-7, E7-12,E7-14, M7-9 3/19 and 3/21 SPRING BREAK 3/26 Reporting & Interpreting Property, Plant, & Equipment, Natural Resources, & Intangibles 3/28 TEST #2 (THROUGH CH. 7) 8 M8-4, M8-5, M8-6, E8-1, E8-8, E8-2, E8-10
4/2 Reporting & Interpreting Property, 8 E8-11, E8-13, E8-16 Plant, & Equipment, Natural Resources, & Intangibles 4/4 Reporting & Interpreting Liabilities 9 E9-2, E9-4, E9-6, E9-15, E9-16, E9-18, E9-19 4/9 Reporting & Interpreting Liabilities 9 M9-7, M9-8, M9-9, M9-10, M9-11, AP9-6 4/11 Reporting & Interpreting Bonds 9/10 E10-1, M10-2, M10-3, M10-6 4/16 Reporting & Interpreting Bonds 10 E10-5, E10-11 4/18 Reporting & Interpreting Bonds 10 M10-4, M10-5, M10-7, E10-12, E10-16, E10-17, P10-2, AP10-7 4/23 Reporting & Interpreting Owners Equity 4/25 TEST #3 (THROUGH CH. 10) 11 M11-9, M11-10, E11-8, E11-9, E11-13, E11-21 4/30 Reporting & Interpreting Owners 11 E11-18, P11-2 Equity 5/2 Statement of Cash Flows 13 E13-1, M13-1, E13-6, E13-9, E13-14, E13-15 5/17 CUMULATIVE FINAL EXAM, 2-5PM