Catalog Description: This course is an introductory study of financial
accounting. This includes the study of basic accounting language
and concepts, recording financial transactions, preparation and
interpretation of financial statements, accounting methods, business
decisions, inventory valuations, and methods of obtaining capital.
Course Objectives: This course focuses on the use and interpretation
of financial accounting information. Course requirements are
structured to help you develop the analytical skills you will
need to make financial decisions based on corporate financial
reports. We will also be concerned with ethical issues that arise
in the exercise of professional judgment,
Text (required): Kimmel,
Weygandt and Kieso, Financial Accounting, 2nd ed
Attendance, participation and homework: Your attendance and participation are vital to the success of the class. The class format is a mixture of discussion, lecture and group problem solving. You will have many opportunities to get involved and to take responsibility for the learning process. Accounting is a comprehensive discipline. Each chapter builds on the material that precedes it and future courses build on the material covered in this introductory course. If you wish to succeed in the course, you cannot allow yourself to fall behind. Attend all scheduled classes, read the assigned material before attending class and attempt to solve the assigned homework. This will contribute to your in-class experience by allowing you to ask and answer meaningful questions about issues raised in class.
Cases: At the end of every chapter, there are short cases based on the material presented in the chapter. Four cases have been assigned this semester and each will be discussed in class before the written case is due. Cases must be typed. Your grade will be based on logical organization and grammar, as well as content.
Financial Analysis Log: This project is an on-going analysis of financial statements that will allow you to relate course material to "real-world" financial disclosures.
Exams: Exams will consist of short answer questions and problems. The material covered on the exams will be based on lectures, handouts, the textbook and class discussions. I usually give make-up exams only in the case of serious illness (substantiated by a doctor's note). You must receive approval for missing the exam before the exam is given.