Finantial accounting

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GANNON UNIVERSITY THE DAHLKEMPER SCHOOL OF BUSINESS

GMBA 501-X1 Financial Accounting (3 Credits) SPRING 2019

Instructor: Terry S. Holmes, J.D., M.B.A. Office: Virtual & CBI 320 Office Phone: 814-871-7873 Email: [email protected] Office Hours: Virtual (9:30 – 10:30 PM Wednesdays & by appointment) & Tuesday 4:20 P.M.-5:20 P.M. & Wednesday 8:30 A.M.-1:30 P.M.

If my door is open, you are welcome to stop in! Course Objectives: The overarching goal of this course is to introduce you, the student, to financial statements, their relevance and how accounting events affect them. You will learn how to think more effectively about business transactions. Specifically, you will learn how to explain how a given business event will affect the income statement, balance sheet, and statement of cash flows. This thought process will help you learn how your decisions as a manager will affect the business organization and allow you to communicate more effectively with other business people. Specific course objectives are attained by reading assignments, homework and case analysis and are more measured by examinations, specific case analysis assignments, and participation. The following course objectives will equip you with the tools necessary to demonstrate the following:

1. Use the basic accounting equation and demonstrate how it applies to the four basic financial statements and the business events affecting them

2. Discuss the process used in recording accounting events and the various methods used to measure them

3. Identify and describe the basic components of an annual report 4. Recognize the private and public bodies that regulate accounting and their role in the profession 5. Read financial statements and make meaningful comparisons between companies and between

accounting periods using ratio analysis 6. Understand the accounting treatment for different types of businesses and different types of stock 7. Comprehend the impact of cash flows on a company’s financial position

Course Requirements:

1) Students are expected to read all assigned materials from the text and complete of all assignments from the text website. Also, students are expected to participate in assigned discussion boards with proper business communication.

2) Grading Policy. Grades are based upon the total points earned.

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Graded Activities

Grade Distribution

Exams 300 60%

Points Grade Project 100 15%

630-650 A+

Homework (Connect) 120 19%

604-629 A Discussion Assignments 70 11%

585-603 A-

Learning Assignments 60 9%

565-584 B+

TOTAL 500 100%

539-564 B

520-538 B-

500-519 C+

455-499 C

0-454 F

3) Required Text Financial Accounting with Connect Plus w/LearnSmart, 4th Edition

J. David Spiceland, UNIV OF MEMPHIS Wayne M Thomas, UNIV OF OKLAHOMA-NORMAN Don Herrmann, Oklahoma State University---Stillwater Hardcover with access card ©2016, ISBN-13 978-1-259-30795-9

MHID 1-259-30795-6

Other Administrative issues

Academic Integrity Academic integrity is the pursuit of scholarly activity free from fraud and deception and is an educational objective of this institution. Academic dishonesty includes, but is not limited to, cheating, plagiarizing, fabrication of information or citations, facilitating acts of academic dishonesty by others, having unauthorized possession of examinations, submitting work of another person or work previously used without informing the instructor, or tampering with the academic work of other students. This course will be conducted according to the highest standards of academic integrity. Students are expected to adhere to the University's policy regarding academic integrity as fully set forth in the University's Catalog (see http://www.gannon.edu/catalog/graduate/current/AcademicRegulations.asp ). Enrollment in this class will be deemed an acceptance of the terms, conditions and responsibilities of the policy outlined in the catalog. Students should note that any occurrence of plagiarism, fabrication, cheating or academic misconduct as defined by the University's Catalog will result in failure of the course and possible separation from the University.

Disability Support Services:

The University will make reasonable accommodations for students with disabilities in compliance with Section 504 of the Rehabilitation Act and the Americans with Disabilities Act. The purpose of accommodations is to provide equal access to educational opportunities for eligible students with academic and/or physical disabilities. Gannon students can require

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accommodations due to a documented diagnosed physical, emotional, or learning disability should contact Gannon’s Office of Disability Service at extension 5522 or 814-871-5522 or find more information out at:

https://my.gannon.edu/studentresources/studentsuccesscenter/disabilitysupportservices/Pages/default.aspx

Academic freedom: Students are expected to respect the right of their peers to express views on topics relevant to the course.

Commitment to diversity: As stated in its Mission, Gannon University’s environment is to be one of inclusiveness and cultural diversity.

Instructor Availability: The instructor urges students to call or email with any course problems. The instructor is fully available for student concerns and students should not hesitate to contact him for questions or scheduling time for dialogue.

Resolution of Concern: If you have a concern with an instructor or a course, the resolution begins by speaking with the instructor before any appeal can be made to the Program Director.

Assessment Designation

Assessment

A Three exams evenly weighted

B Participation & chapter assignments

C Financial analysis project

Objective Number

Description of Course Objective Where Assessed

1 Use the basic accounting equation and demonstrate how it applies to the four basic financial statements and the business events affecting them

A, B

2 Discuss the process used in recording accounting events and the various methods used to measure them

A, B

3 Identify and describe the basic components of an annual report

A, B

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Objective Number

Description of Course Objective Where Assessed

4 Recognize the private and public bodies that regulate accounting and their role in the profession

A, B

5 Read financial statements and make meaningful comparisons between companies and between accounting periods using ratio analysis

C

6 Understand the accounting treatment for different types of businesses and different types of stock

A, B

7 Comprehend the impact of cash flows on a company’s financial position

A, B

LINKING COURSE OBJECTIVES TO PROGRAM OUTCOMES

MBA Outcome Objective Number

To demonstrate an understanding and application of the theories and practices relating to business administration

1, 3

To gain an integrative view of the business organization and its global business environment

6

To demonstrate an understanding and application of the analytical thinking skills 5, 7

To demonstrate an understanding and application of leadership and team-building skills

2

To demonstrate and understanding of the ethical dimensions of business 4

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Discussion Requirements:

Please make your initial post by Thursday, and respond to at least one other student's post by the end of the week.

Discussion Participation - Every week I will post discussion questions for you to respond to on the discussion board. Your main response should respond directly to the question, using textbook theory and your own experiences or research to back up your responses. Please post your first response by Thursday of the current week.

Several criteria must be met in order to receive full credit. Partial credit may be obtained by meeting some of the objectives below.

They must be posted by the due date.

1. They relate directly to the weekly discussion question. 2. They develop the point with examples and appropriately documented research. 3. They do not simply copy another posting or material from another source. 4. They show an understanding of the concepts from the textbook.

In addition to your main response, you need to make one additional posts as follow-up posts during the week. These can be additional questions that I ask, commenting on your classmates’ posts, providing information you have read, or anything that pertains to the discussion. The key is to be active on the discussion board. In conclusion, you need two informative posts during the week to receive all points for your weekly discussion board participation.

Description Point Value First contribution before deadline (Thursday of the Week) 5 points At least 1 responses to other posts before week’s end 2 points Posts are substantive and advance discussion 1 points Thoughts are expressed clearly and succinctly 1 points Posts reflect reading assignments and outside research 1 points When making discussion posts, please make sure it is your original work. Do not copy words from a site, article or another student. You can paraphrase information from credible sources but cite appropriately. Please let me know if you have any questions.

Week Title Assignments

01 In the Beginning

Reading - Read Chapters 1 and 2 Week 01 Multimedia Week 01 Written Assignment - Practice Problems Week 01 Discussion - Ethics Situation Week 01 Final Project - Financial Analysis Project

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02 Financial Reporting and Internal Controls - An Overview

Reading - Read Chapters 3 and 4 Week 02 Multimedia Week 02 Written Assignment - Practice Problems Week 02 Discussion - None this week Week 02 Exam - Exam #1

03 A Study of Current Assets

Reading - Read Chapters 5 and 6 Week 03 Multimedia Week 03 Written Assignment - Practice Problems Week 03 Discussion - Ethics Situation

04 Property, Plant and Equipment, Paying Suppliers

Reading - Read Chapters 7 and 8 Week 04 Multimedia Week 04 Written Assignment - Practice Problems Week 04 Discussion - none this week Week 04 Exam - Exam #2

05 We owe, we owe, and off to work we go...

Reading - Read Chapters 9 and 10 Week 05 Multimedia Week 05 Written Assignment - Practice Problems Week 05 Discussion - Ethics Situation

06 GTM - Get The Money, Understanding the Statement of Cash Flows

Reading - Read Chapter 11 Week 06 Multimedia Week 06 Written Assignment - Practice Problems Week 06 Discussion - None this Week Week 06 Exam - Exam #3

07 Now you can analyze the story you have learned how to prepare and read

Reading - Read Chapter 12 Week 07 Multimedia Week 07 Written Assignment - Practice Problems Week 07 Discussion - Ethics Situation Week 07 Final Project - Financial Analysis Project

Late assignment policy: Your homework will be marked down 10% for each day that your assignment is late. If after 5 days your assignment is not turned in, you will NOT receive credit for the assignment. There are exceptions to this rule, such as hospitalization and a death in your family (documentation will be required). The key to making this work is communication with the instructor. It is much easier to work with a student when they keep me informed of a particular situation rather than telling me after they have received zeros for assignments. However, not having internet access or the textbook, work commitments and vacation are not an acceptable excuse for not submitting assignments on time. This is an on-line course; you must have access to the internet to take the course. If an emergency or situation arises during the class, send me an email or have someone give me a call at that time. The late policy only applies to homework–exams, group projects, discussions and practice sets are not accepted late.

This course outline established therein is tentative and the instructor reserves the right to change them.