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Course Outline
Welcome to An Introduction to Accounting: The Analysis & Use of Financial Information (CSHR 1090)!
Airan Friedman is a Senior Risk and Risk Management and Treasury Professional with 23 years experience, including 10+ years of progressive responsibility in associated risks (Liquidity, Market and Credit).
Overview: This course will provide you with an introduction to basic concepts in financial accounting, managerial accounting, and their interrelationships to duties and responsibilities of a Human Resources professional.
Statement of Purpose: The purpose of this course is to assist you in acquiring a critical overview of the accounting process and a broad, conceptual understanding of the role of accounting in modern society. Special attention is devoted to:
1. the financial statements prepared for use by those outside the enterprise and how those statements contribute to financial decisions and capital markets; and,
2. internal information reports prepared by managerial accountants for use by those within the enterprise and how those reports affect managers’ day-to-day decisions.
This course is designed to help you understand why managers need to know about accounting and financial reporting and analysis. In particular, this course is designed to provide you with the opportunity to gain knowledge, insights, and analytical skills related to various types of accounting and the basic financial statement and reporting systems.
By the end of this course you will be able to:
1. Distinguish between the three basic forms of business organizations;
2. Identify the different characteristics and purposes of financial accounting and managerial accounting;
3. Describe the essential accounting language and basic financial decision-making techniques used by managers;
4. Identify and interpret the different types of financial statements;
5. Explain how HR decisions are reflected in financial statements (payroll accounting cycle, pension plans, and other future employee benefits);
6. Describe the role of an auditor and how audits of HR functions are performed;
7. Explain managerial cost concepts (e.g. types of products costs, allocation of costs, cost behaviour, sensitivity analysis, activity-based costing, and transfer pricing);
8. Analyze other financial data for decision-making purposes (e.g. contribution margin and sensitivity analysis);
9. Prepare operating budgets for planning and control purposes;
10. Calculate and interpret financial ratios;
11. Demonstrate critical skills for future career success by working on course problems and assignments involving:
· integrative problem-solving skills,
· analytical skills,
· communication skills,
· ability to work in a team, and
· understand how a real business functions financially.
The course will be very interactive. We will use numerous resources to learn, study and apply the financial knowledge expected of a Human Resources professional. Course work will be divided between individual and group work, in an effort to simulate real-work environments. You will be expected to participate in group discussions. You will also be expected to use applicable Internet resources, templates, and spreadsheets when completing homework and the group assignment. Some time outside of class will be required to complete research and assigned reading material (textbook chapters, articles provided in class, etc.).
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Financial Accounting Textbook Kimmel, P.; Weygandt, J.; Kieso, D.; Trenholm, B.; Irvine, W.; Christopher D. Burnley Financial Accounting, Tools for Business Decision-Making, 8th Canadian Edition, John Wiley and Sons Canada, Ltd. 2020, Ebook (recommended) ISBN: 978-1-119-59454-3, Print ISBN: 978-1-119-59457-4 Managerial Accounting Textbook Weygandt, J.; Kimmel, P.; Kieso, D.; Aly, I. Managerial Accounting, Tools for Business Decision-Making, 6th Canadian Edition, John Wiley and Sons Canada, Ltd. 2021, E-Book (recommended) ISBN:978-1-119-73152-8 , Print ISBN: 978-1-119-73182-5 *NOTE: Photocopying more than 10% of a textbook is illegal and may involve penalties. Do not duplicate textbooks or obtain textbook copies. |
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ASSESSMENT |
% OF FINAL GRADE |
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Individual Research Activities (3 in total) |
25% |
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Group Research Activity |
20% |
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Class Participation |
15% |
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Final Exam |
40% |
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Total |
100% |
ASSIGNMENTS
See Assessments section for details.
Final Exam
The final exam will be held at the end of the course (dates and details TBA). The exam is scheduled for 2.5 hours and will cover concepts covered during the entire course with the main focus on managerial accounting concepts covered during the second half of the term, including material/handouts covered in class.
NOTE: To meet the Course Requirements to write the CHRP Knowledge Exam or the CHRL Knowledge Exam, you will be required to obtain a grade of 70% or better overall in the nine subject areas with no single course mark below 65%.
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WEEK |
TOPICS / BOOK / CHAPTERS |
ASSIGNMENTS / ACTIVITIES |
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August 22 to 28, 2022 |
Introduction to Business Structures / Financial and Managerial Accounting / Business Financial Statements Introduction to: · Classification of Business Structures; · Various Users of Financial Information; · Differences between Financial Accounting & Managerial Accounting; · Business Financial Statements (Income Statement, Balance Sheet, and Statement of Retained Earnings). Financial Accounting Textbook Chapters #1 and #2 Week 1 slides & videos |
INDIVIDUAL WORK: Chapter #1 Questions: BE1.1, BE1.2, BE1.3, BE1.5, BE.1.7, E1.6, E1.10 Practice Objective-Format Questions on page 1-32 of the textbook Chapter #2 Questions: BE2.1, BE2.2, BE2.9, E2.1 Practice Objective-Format Questions on page 2-30 of the textbook GROUP WORK: Group Working Agreement (for Group Research Activity) - Due by the end of Week 1, 11:59 PM EST |
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August 29 to September 4, 2022 |
The Accounting Information System · Accounting Transactions and Preparation of Financial Information, Accrual vs. Cash Basis of Accounting and Other Key Accounting Concepts Financial Accounting Textbook Chapter #3 Week 2 slides and videos |
INDIVIDUAL WORK: Chapter #3 Questions: BE3.1, BE3.3, BE3.4, BE3.5, BE3.6, E3.7 Practice Comprehensive DO IT questions on page 3-39 and Practice Objective-Format Question on page 3-40. |
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September 5 to 11, 2022 |
Accrual Accounting Concepts · Cash vs. Accrual Accounting Concepts Financial Accounting Textbook Chapter #4 Week 3 slides and videos |
INDIVIDUAL WORK: Chapter #4 Questions: BE4.1, BE4.2, BE4.8, BE4.9, E4.1 Practice Comprehensive Do It questions page 4-45 Practice Objective-Format Questions page 4-46 Individual Research Activity #1 - Due by the end of Week 3, 11:59 PM EST |
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September 12 to 18, 2022 |
Cash Flow and Performance Measurement · Ration analysis Financial Accounting Textbook Chapters #13 and #14 Week 4 slides and videos |
INDIVIDUAL WORK: Chapters #13 Questions: BE13.1, BE13.2, BE13.4, Practice Comprehensive Do It questions on pages 13-41, 13-42 Chapter #14 Questions: BE14.1, BE14.2, BE14.4 Practice Objective Format Questions page 14-36 Individual Research Activity #2 Due by the end of Week 4, 11:59 PM EST |
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September 19 to 25, 2022 |
The Role of Auditors / Audits of Payroll and HR Functions · Understanding the Payroll Cycle · The Role of Auditors. Audits of HR functions Reading Material Posted to Moodle website Week 5 slides and videos |
INDIVIDUAL WORK: Cases Handed Out Separately Individual Research Activity #3 Due by the end of Week 5, 11:59 PM EST |
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September 26 to October 2, 2022 |
Fundamentals of Managerial Accounting · Managerial Cost Concepts and Cost Behavioural Analysis · Relationship between the main elements of the decision-making process Managerial Accounting Textbook Chapters #1 and #2 Week 6 slides and videos |
INDIVIDUAL WORK: Chapter #1 Questions: E1.3, E1.5, E1.6, E1.7 Chapter #2 Questions: E2.19, E2.20, E2.22, E2.26, E2.28 Chapters #1 and #2 - Self-study questions and answers can be found on pages 1-19 and 2-32 |
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October 3 to 9, 2022 |
Activity-Based Costing Managerial Accounting Textbook Chapter #5 Week 7 slides and videos |
INDIVIDUAL WORK: Chapter #5 Questions : BE5.1, BE5.5, BE5.8, BE5.10, E5.20, E5.21 Chapter #5 - Self-study questions and answers can be found on page 5-26 |
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October 10 to 16, 2022 |
Decision-Making Using Cost-Volume-Profit Analysis · Breakeven Analysis Managerial Accounting Textbook Chapter #6 Week 8 slides and videos |
INDIVIDUAL WORK: Chapter #6 Questions: BE6.1, BE6.5, BE6.6, BE6.7, E6.24, E6.25, E6.26 Chapter 6 - Self-study questions and answers can be found on page 6-30 |
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October 17 to 23, 2022 |
Budgetary Planning, Control, and Responsibility Accounting · Budgetary Planning/Controlling Costs · Budgetary Control and Responsibility Accounting · Introduction to Time Value of Money Managerial Accounting Textbook Week 9 slides and videos |
INDIVIDUAL WORK: Chapter #10 Questions: E10.16, E10.17 GROUP WORK: Group Research Activity - Due by the end of Week 9, 11:59 PM EST |
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Final Exam Online available on Sunday, October 23, 2022, 9:00 AM - 12:00 PM EST and Monday, October 24, 2022, 6:00 PM - 9:00 PM EST. You will have 2 hours and 30 min to complete it. NOTE: Due to the global pandemic and temporary shut down of Examity, the Final Exam for this course will be open-book. |