Professional Documents
Culture Documents
Course Outline
Course Outline
Horngren, Sundem, Elliott, and Philbrick. Introduction to Financial Accounting. 9th Edition. Prentice
Hall, 2006.
Course pack All material for this course will be provided electronically. This includes daily case
questions, handouts, and financial reports for many corporations.
Preparation for class INCLUDING DAY 1
Given the fast pace of the curriculum, we advise you to take the following three steps ahead of each class:
1. Read the textbook chapter(s) as listed on the daily schedule. Reading technical material is not like
reading a novel or the newspaper. You must read carefully and take notes as you read. Plan on
spending one to two hours per chapter.
2. Attempt to solve some of the suggested end-of-chapter problems (see table on page 5, below).
Doing so will help you identify material you did not comprehend. Solutions to all of these
problems are posted on the On-line Learning Management System (LMS).
3. Attempt to answer all of the case questions for the day on your own. Then work with your group
or with other students. Compare answers see where you erred. These questions relate to the
financial statements of specific companies. You have the financial statements for these companies
and will use these reports to answer the questions. From this you will learn real-world
applications of the principles of Accounting.
For many of you, this will be the first time you are encountering financial reporting. You will need to
spend additional time in order to succeed in FADM. Doing the pre-class work described above, will help
you get the most out of each class.
Grading:
There are five components to the class grade:
Component
Weight
Two quizzes*
Mid-term examination
End-term examination
Group project
Class Participation
10%
25%
30%
30%
5%
Coding
Scheme
2N-b
2N-b
4N
*The quizzes provide additional practice and assist in preparation for the final exam. While this
component is rated coding scheme #1, students who attempt this work individually learn more and are
better prepared for the mid-term and end-term examinations.
Chartered Accountants have the option of completing course requirements through a small group research
project on a topic approved by the accounting faculty. Decision must be communicated to the professor
before the start of Session #3. For details, please visit the professor during regular office hours.
NB: If you do not choose the small group project option, you MUST attend all classes and take all
examinations.
NB: This option is NOT available to students who hold other professional business designations such as
CFA, CMA, CGA or members of the ICSI, etc. Please do not ask for exceptions.
Course Description:
This class will provide students with an introduction to financial statements and their use. The course centers
on real financial statements. Each class session will provide a detailed examination of the major components of
the companies income statements, balance sheets, and statements of cash flows. We will examine performance,
liquid assets, inventories, fixed assets, intangible assets, long-term obligations, investments, equity, and cash
flows. Upon completion, students should have developed a basic understanding of what financial statements
contain and how to use them to assess a companys profitability and financial position.
The course will foster managerial thinking and hone decision-making skills by focusing on the following
key aspects:
Awareness of Global Issues Affecting Business
The course materials will identify and analyze key global factors relevant to financial reporting.
Real-world financial statements prepared by multinational firms will be used to demonstrate how
financial reporting varies across jurisdictions. This facilitates a better understanding of the Indian and
global business environments.
In the final project requirement students compare U.S. and international accounting principles and
understand the primary differences and their impact on financial reports.
Critical and Integrative Thinking
Financial analysis of corporate performance and position will begin with identification of key integral
relationships among financial statements and reported items.
Class discussion will draw on students personal business experience. This will provide depth not
available from assigned (textbook) materials.
2
Comparison of U.S, Indian and international accounting standards (IFRS) will compel students to
form opinions and explain their position to others.
Financial analysis will require students to clearly define their information needs and gather
appropriate evidence.
Critical thinking is evaluated across all components of the grade, i.e., class participation, quizzes,
midterm exam, final exam, and the final project.
Ethical Responsibility
Real world financial reporting outcomes provide current examples of ethical accounting issues.
Several high-profile corporate frauds (e.g., Enron, Satyam) will be discussed.
Students will systematically evaluate pros and cons of alternative financial reporting choices and
discuss how various players (e.g., auditors, regulators) respond to the reporting incentives and
outcomes.
Class lectures will explain earnings management and how managerial intervention in the reporting
process can lead to corporate malfeasance.
Interpersonal Awareness and Working in Teams
Final project requires students work in teams.
Project requires higher-order thinking skills, which should encourage team members to plan, delegate,
communicate, and efficiently execute final report.
Members will individually and collectively ensure that group tasks are successfully accomplished.
Group will receive a common grade, which will garner buy-in and support from all team members.
Classroom Etiquette
Mid-term
Examination
Quiz #2
Date
Week 2
Format
LMS
Group
Assignment
No
Week 4
Inclassrooms
LMS
Group
Project
Week 5
Take-home
Yes
End-term
Examination
Week 6
Inclassrooms
No
Week 3
No
No
Additional Instructions
Quiz will be uploaded and
available by Friday 17:00 (5pm)
Quiz must be completed by
Sunday 17:00 (5pm)
Location will be announced
Closed book exam
Same as for Quiz #1
Hardcopy due Friday 17:00
(5pm) to AA mailbox
8-page limit, excluding exhibits
and appendices
Instructions as to exam location
will be forthcoming
Open book exam
Session
1
2
Textbook Readings
Suggested
Practice Problems
Chapter 1
statement Chapter 2
Chapter 4
Subject
Introduction
to
reporting
Balance sheet
General
income
Accrual accounting
financial
Chapter 5
Chapter 6 & 7
Chapter 8
Chapter 8
Begin Ch. 11
Majority investments
Finish Ch. 11
Begin Ch. 9
Finish Ch. 9
10
Contingent Liabilities
Shareholders Equity
Chapter 10 (skim)
Intangibles
Course Name
Professor Name
Academic Associate(s):
Grading Components
Two quizzes
Group project
Mid-Term Examination
End-Term Examination
CP
3x___
5___
3___
5___ 7x_____
As per paper viewing schedule
As per paper viewing schedule
After L5 and L10 ____
Only after L10
__x__
Y _______ N_________
Y _______ N_________
policies.
*AA can inform ASA about any extra venue requirement 1 working day in advance