Subject to Change at Instructors Discretion

SUBJECT TO CHANGE AT INSTRUCTORS DISCRETION

BRANDEIS UNIVERSITY BUS 6a FINANCIAL ACCOUNTING Fall 2017

Professor: Robert A. Angell TAs: Philip Cooper ([email protected]) Email: [email protected] Rachel Moore ([email protected]) Phone: 866.700.0894

Office hours: Th (1:30 - 3:15pm) or by appointment Office location: Sachar 1D

Recitations: Thursdays, 6:30 to 8:20pm Location: Lown Ctr for Judaic Studies 002

COURSE DESCRIPTION The primary objective of this course is to develop a fundamental understanding of financial accounting and corporate reporting issues. Students will be exposed to a variety of real world applications involving for profit financial statements. More specifically, students will acquire skills allowing them to read, interpret and analyze the income statement, balance sheet and statement of cash flows. This course will primarily address accounting standards employed in the US (GAAP) but will acquaint students with international standards (IFRS) used by other countries in numerous accounting areas. Further, issues related to the project on the convergence of standards currently being conducted by the FASB and IASB will be discussed. Throughout the course, emphasis will be placed on interpreting financial statements to understand how accounting information, in a variety of decision settings, can be utilized by managers.

LEARNING GOALS

Upon completion of this course, the student will have a fundamental understanding of financial reporting issues as they relate to for profit businesses. Students will be able to (1) prepare, understand, and interpret the basic financial statements (statement of earnings, balance sheet and statement of cash flows); (2) evaluate the financial well-being of an organization by employing analytical techniques that include financial ratios and trend analysis; (3) identify ethical aspects of a financial situation and evaluate those aspects when making business decisions.

COURSE MATERIALS Libby, Libby and Short Financial Accounting, 8th Edition, Irwin McGraw Hill (Required). You can either buy the fully digital version which includes an ebook and assignments OR purchase the printed text and online assignments separately. McGraw Hill web address for assignments (LearnSmart AND Homework Problems) is SUBJECT TO CHANGE AT INSTRUCTORS DISCRETION

http://connect.mheducation.com/class/r-angell-fall-sec3 Please do not purchase the international version of the text as it will not correspond to the syllabus nor any other version. Also, do not purchase a used copy of the book unless you are certain that it comes with Connect Access.

REQUIRED: TI Business Analyst II Plus. Please bring to all class meetings. This calculator will be used in other business classes and will be allowed for exams in this course. NO graphing or calculator with texting capability will be permitted.

Additional Course Materials/Cases are available on LATTE

COURSE REQUIREMENTS AND GRADING POLICY Course Grading and Exams Your course grade will be determined based on the following formula: Homework/Attendance/Participation 10% Exam 1 20% Exam 2 25% Final Exam 30% Group Project 15% 100%

Attendance Class and Recitation attendance is required. Records of attendance will be kept for each class and recitation. Students are allowed one excused absence. Please notify me in advance when you are unable to make it to class. After the first absence, the homework/attendance component of the grade will be negatively affected. Please arrive for class on time and remain until the end of class. It is extremely disruptive when students enter late or leave early. I do understand that there are valid reasons for needing to be late or leave early, as such, please notify me prior to class. It is expected that you will come to each class ready to discuss the readings, exercises and problems.

Homework In an accounting class, keeping up with the assigned homework problems is critical to your success. If you do not take the time to challenge yourself and struggle with the issues in each problem, you will, in all likelihood, perform very poorly on exams. All homework will be submitted via the McGraw Hill Connect platform. IMPORTANT: ALL HOMEWORK SHOULD BE YOUR WORK AND NOT THE WORK OF OTHERS.

Participation Students are expected to adequately prepare for each class session and to actively participate in class discussion. Success in this four- credit course is based on the expectation that students will spend a minimum of 9 hours of study time per week in preparation for class (readings, papers, discussion sections, preparation for exams, etc.). Class participation involves being regularly engaged in the discussion/lecture and making a positive contribution by asking thoughtful questions, sharing relevant experiences, requesting clarification and making comments. All forms SUBJECT TO CHANGE AT INSTRUCTORS DISCRETION

of participation should be conducted in a manner that is respectful of fellow students and the professor.

Exams THERE WILL BE NO MAKE-UP EXAMS, UNLESS THE STUDENT HAS A VALID EXCUSE AND NOTIFIES THE PROFESSOR PRIOR TO MISSING THE EXAM. There will be absolutely no opportunity to assign the weight of a missed exam to another exam. If you miss an exam without a valid excuse, you will receive a grade of zero. Therefore, please make every effort in advance to ensure that you will be in attendance on the exam dates shown on the syllabus. Make-up exams will only be scheduled if you miss an exam for a legitimate reason; you will need to provide evidence for your absence and you must notify me prior to the scheduled exam time. All exams are closed book with no index cards/review sheets of any kind permitted while taking the test. The use of text capable calculators is strictly prohibited.

Academic Integrity You are expected to be honest in all of your academic work. Please consult Brandeis University Rights and Responsibilities for all policies and procedures related to academic integrity. Students may be required to submit work to TurnItIn.com software to verify originality. Allegations of alleged academic dishonesty will be forwarded to the Director of Academic Integrity. Sanctions for academic dishonesty can include failing grades and/or suspension from the university. Citation and research assistance can be found at LTS - Library guides.

Student Accommodations If you have a documented disability on record at Brandeis University and require accommodations, please contact Beth Rodgers Kay ([email protected]) and bring it to my attention prior to the second meeting of the class. SUBJECT TO CHANGE AT INSTRUCTORS DISCRETION

CLASS SCHEDULE – Subject to Change at Professor’s Discretion Exams 1 and 2 will be given during the Recitation Period

Date Day Topics/Chapters Reading Assignments (due the next class) Chapters 1, 2(pgs 42-56) 8/31 Th Introduction Global Connections A (LATTE) Balance Sheet, Income Chapters 1, Chapter 1 LearnSmart 9/5 T Statement/Interrelationship of 2(pgs 42-56) E1-3, E1-4, E1-7, P1-1, P1-2 Financial Statements Analysis of Economic Events Chapter 2 (pgs Chapter 2 LearnSmart 9/7 Th via Journal Entries 57-77) E2-4, E2-6, P2-1, P2-2, P2-3 Chapter 3, Global Chapter 3 LearnSmart 9/12 T Adjusting Journal Entries Connections B E3=2, E3-3, E3-4, E3-5, E3-17, P3-2, P3-6 (LATTE) Income Statement and Chapter 4 LearnSmart 9/14 Th Chapter 4 Expanded Transaction Analysis E4-6, E4-7, E4=7, P4-2, P4-3, P4-5 9/19 T Non-recurring Items and Chapter 5 Chapter 5 LearnSmart 9/26 T Income Statement E5=8, E5-10, E5-12, P5-6 9/28 Th Review of Chapters 1 - 4 Th 9/28 Exam 1 (Chapters 1, 2, 3, 4) Evening 10/3 T Sales and Receivables Chapter 6 Chapter 6 LearnSmart E6-9,E6-13, E6-17, E6-18, P6-4, P6-5 10/10 T Sales and Receivables Chapter 7 LearnSmart Inventory & Cost of Goods 10/11 W Chapter 7 E7-3, E7-9, E7-10, E7-20, P7-1, P7-3, P7-4, Sold P7-8, P7-9, P7-10 Inventory & Cost of Goods LAST DAY TO DROP WITHOUT A 10/17 T Sold “W” Chapter 8 LearnSmart 10/19 Th Non-current Assets Chapter 8 E8-2, E8-8, E8-11, E8-13, E8-23 P8-3, P8-6, P8-8, P8-9, P8-10, P8-11 Financial Statement Analysis Chapter 13 Chapter 13 LearnSmart 10/24 T Project Introduction E5-17,E13-3, E13-8, E13-9, P13-10, P7-7 Understanding Audited 10/26 Th Financial Statement Analysis Email to Prof Angell team, liaison and 10/31 T Project workshop companies to analyze 11/2 Th Chapters 5, 6, 7, 8, 13 Review Th Exam 2 (Chapters 5, 6, 7, 8, 11/2 Evening 13) SUBJECT TO CHANGE AT INSTRUCTORS DISCRETION

Liabilities and Time Value of Chapter 9 Chapter 9 LearnSmart 11/7 T Money E9-4, E9-15, E9-22, P9-11, P9-12 Chapter 10 LearnSmart Bond Pricing and Impact of 11/9 Th Chapter 10 M10-2, M10-3, M10-4, M10-6, E10-16, Debt Financing P10-8, P10-10, P10-12 Bond Pricing and Impact of 11/14 T LAST DAY TO DROP WITH “W” Debt Financing Chapter 12 LearnSmart 11/16 Th Statement of Cash Flows Chapter 12 E12-4,E12-7, E12-8, E12-16, P12-1, P12-2, P12-4 Ethical Awareness 11/21 T Statement of Cash Flows Memo (posted on Latte) 11/23 THANKSGIVING Chapter 11 LearnSmart 11/28 T Stockholders’ Equity Chapter 11 E11-8,E11-11,E11-16,E11-18, E11-22, E11- 23, P11-5, P11-5 11/30 Th Stockholders’ Equity Appendix E LearnSmart 12/5 Th Investments Appendix E ME-3, ME-4, EE-2, EE-5, EE-6, EE-7, PE-4 Financial Statement Analysis 12/7 T Project Due

Final Exam – Comprehensive with Emphasis on Chapters 9, 10, 11, 12, Appendix E(Date and Location TBD )