financial)and)managerial)accounting) syllabi/5400...syllabus:))acctng5400,spring2015)...

Syllabus: ACCTNG5400, Spring 2015 Financial and Managerial Accounting

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Instructor: Jennifer Reynolds-‐Moehrle, Phd, CPA Phone number:314-‐516-‐6764 Email address: [email protected] Campus office: 1212 SSB Tower

Virtual Office Hours: Wednesday 8:00-‐9:35 pm through Blackboard IM

In-‐Person Office Hours: Tuesday 4:00 – 5:15 PM and by appt.

Welcome to Financial and Managerial Accounting. This course will be an introduction to key financial and managerial accounting concepts. We will examine the economic environment of accounting as well as the mechanics and measurement issues in accounting. The primary goal of the financial accounting portion of the course is to understand how financial statement disclosures are developed, determine whether the disclosures reflect the economics of the transactions, and discuss how the disclosures can be used to make optimal decisions. The primary goal of the managerial accounting portion of the course is to understand what information is available to managers and how this information can be used to make optimal decisions. Instructor Bio I am looking forward to learning more about you throughout the course. I came to UMSL from the University of Southern California in 1999. I am originally from western Kentucky and my husband (also an Accounting Professor here at UMSL) is from St. Louis so the decision to move from LA to St. Louis was an easy one! I have an undergraduate degree from University of Kentucky along with a PhD from Indiana University and I spent several years working in Public Accounting and in private industry before I started the PhD program. As an associate professor my time is split between teaching, research, and service. My teaching is evenly divided between upper level undergraduate accounting courses and graduate courses. Most of my research is in the areas of financial reporting and accounting history. I am involved in a variety of COBA, campus, and university administrative activities such as planning for our new COBA building, providing input into campus building and physical facilities issues, and helping to mentor faculty who are new to UMSL. Teaching Philosophy Success in teaching depends upon success in learning. I strive for successful teaching by maximizing the potential for successful learning, which I believe can best occur if the following attributes are present in the course: a readiness to learn, an understanding of the relevance of the material, and an opportunity to risk being wrong. A successful teacher stretches the student’s expectations about the subject to the point where the student develops the desire to be prepared so as not to miss out on what’s coming next. I stretch student expectations by mapping the


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course material into the context of your world. As an investor, you will become comfortable with the information provided by companies you may consider investing in and as an employee you will become more aware of how owners and other investors use the information provided by your employer. Success in learning is only possible when the student recognizes the relevance of the subject for herself. A successful teacher makes clear the relevance of today's material for tomorrow's learning. I incorporate relevance into my teaching by using many in-‐class examples from the real world. We will use cases that will require you to evaluate the quality of accounting information and to use that information to evaluate decisions made by management. A successful teacher provides multiple opportunities for students to try out their business decision making in a “safe” atmosphere. Such opportunities are crucial for enhancing critical thinking skills. I incorporate these opportunities through in-‐class exercises that require quick individual/group decision making and through real-‐world cases that may require outside time for researching and processing decisions. Required text: Financial & Managerial ACCOUNTING for MBAs 4th edition, by Easton, Halsey, McAnally, Hartgraves, and Morse, Cambridge Business Publishers, ISBN: 978-‐1-‐61853-‐102-‐5, includes a code for access to MyBusinessCourse.com, online homework and course materials site. Alternatively, you can just buy access to MyBusinessCourse.com and use the e-‐book feature for the text materials. Time Requirements: If this course was offered on campus, you’d be in class 2.5 hours/week, along with the travel time involved. The online version is no different in terms of expectations for your involvement. This is an active online course that requires 3 hours of your time each week IN ADDITION TO the time it takes you to read the required materials and watch the videos, as well as the additional work required to complete the assigned papers. That means that you need to plan to spend a minimum of 6 hours every week, up to 9-‐10 hours a week, on activities related to this course. If you do not have that amount of time to devote to this course, you should perhaps reconsider taking this course at this time. Technology Requirements: As a student in an online course, you are expected to have access to the internet almost every day. If you have computing problems, it is your responsibility to address these, or come to campus to use the student computing labs. Encountering problems with your computer or other technology issues is not an excuse for any delays in meeting expectations and deadlines for the course. So, if you have a problem, get help in solving it immediately. At a minimum, you will need the following software/hardware to participate in this course:

1. Computer with an updated operating system (e.g. Windows, Mac, Linux) and to an Internet browser (e.g. Mozilla Firefox, Internet Explorer)

2. Ability to navigate MyGateway (Blackboard Learning Management System) 3. Minimum Processor Speed of 1 GHz or higher recommended. 4. DSL or Cable Internet connection or a connection speed no less than 7 Mbps. 5. Media player such as Windows Media Player to open course media. Flash player may be required by some

aspects of the course and is available as a free download here: http://get.adobe.com/flashplayer/ 6. Adobe Acrobat to open PDF files throughout the course – available as a free download here:

http://get.adobe.com/reader/?promoid=HRZAC 7. Adobe Flash Player plugin, available as a free download here: http://get.adobe.com/flashplayer/ 8. Oracle Java plugin, available as a free download here: http://java.com/en/download/index.jsp


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9. Microsoft Silverlight plugin, available as a free download here: http://www.microsoft.com/getsilverlight 10. A webcam and/or microphone is highly recommended.

Course Description: This course provides an introduction to accounting, with emphasis on preparation of financial statements for external parties (financial accounting) and accumulation of cost information to aid internal planning and control (managerial accounting). Topics covered include measurement of assets and liabilities, revenues and expenses, the accounting cycle, financial statements, cost terminology, cost behavior, product costing, and relevant costs for decision making. This course provides the necessary background for ACCTNG 5401. Goals of the Course: My goals for you this semester are that you will finish the course with a useful level of understanding of the accounting information available to you as a financial statement user and with a better understanding of the internal accounting information you come in contact with in your current or future career. It is often said that accounting is the language of business and you will find that the language we use in this course will show up in most, if not all, of your subsequent MBA coursework and as a result of your success in this course you will be in a better position to succeed in those later courses.

Learning Objectives: At the conclusion of this course, students will be able to comfortably use financial accounting information and will understand how managers use accounting information internally to enhance decision making.

• Students will be able to identify the four basic financial statements and understand the fundamental elements included therein

• Students will know how the statements are linked and will understand the process used to prepare the statements

• Students will be able to read financial statements and understand the principles used to measure operating assets and long-‐term assets

• Students will understand the reporting of nonowner and owner financing activities • Students will be able to identify the cost behaviors of various business activities • Students will know how to use cost information in strategic decision making • Students will understand how the budgeting process incorporates information across the company • Students will understand performance evaluation using both financial and non-‐financial measures via a balanced

scorecard approach

Instructional Strategies: We will use online homework practice, individually prepared cases and in-‐class activities. It is important for you to complete all reading and lecture activities and to actively participate in on-‐line and in-‐class discussions and activities. Please feel free to ask questions, offer observations, or even interject appropriate humor. Everyone benefits when students participate freely and actively in class. Instructional Technology: The following tools will support the instructional strategies for this course:

• MyBusinessCourse.com – this is the online resource that goes with our required textbook. It is a very comprehensive, user friendly, thoughtful resource that includes mini lectures prepared by the textbook authors,


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guided examples of key ideas, and homework practice. Your textbook purchase includes a cardstock page with an access code, or alternatively you can purchase access to MyBusinessCourse.com without purchasing a hard copy of the book.

• Voicethread – we will use this at different times throughout the course. • Panopto – we will use this when we meet face to face to capture the lecture/activities of our time together. You

can access Panopto through the “tools” tab on the left of the MyGateway course page. • Blackboard IM – I will use this for office hours on the Wednesday nights when we are not meeting face to face.

You will need to download this software (you can find the link on the lower right of your MyGateway homepage) – it is also a handy way to connect to each other during those office hour times.

Grade Composition: There will be a total of 750 points available in the course. The points can be earned as follows:

Points Exams (4 @ 100 points each) 400 total Case assignments (7 @ various pts each) 150 total Class participation (50 pts face to face, 100 pts online activities, 50 MyBusinessCourse) 200 total Total 750 points It is my expectation that letter grades will be awarded as follows: 675 and above = A 637 – 674.95 = A-‐ 600-‐636.95 = B+ 575-‐599.95.95 = B 525-‐574.95 = B-‐ 505-‐524.95 = C+ 487-‐504.95 = C 450-‐486.95 = C-‐ Lower = F The exams will be taken in person at the Campus Testing Center, http://www.umsl.edu/~campustesting/ , during the exam windows provided in the syllabus schedule. You will need to schedule your appointment. Exams will be graded and available for your individual review as early as the Face to Face class immediately following the exam window (if you take the exam after Wednesday noon, your exam will most likely not be available for review in that evening’s face to face class). Case assignments will be graded and returned to you within 3 days of the due date. Participation is expected on all activities, as found in the column marked “Activities”. Participation points will accumulate throughout the semester for the activities within each unit of the course. In addition to the particular activities shown in the schedule below, there will be 50 participation points associated with the practice questions on MyBusinessCourse.com. The policy will be that if you earn more than 50% of the points for the practice questions across the semester I will award you all 50 participation points.


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Late Assignments: Any Case assignment submitted later than the due date and time is considered late. This policy is established and enforced to be completely fair to all students that submitted the assignment on time. Late assignments will be accepted up to 1 week after the due date and graded as follows:

First late assignment: 75% of the points earned Second late assignment: 50% of the points earned Third late assignment: 25% of the points earned

This policy is designed so that your grade is not damaged critically by one or two late assignments. Grading Scale: The UMSL Grading System for graduate courses is based on a four-‐point scale. All graduate students are required to maintain a 3.0 average. The grade value for each letter grade is as follows:

A = 4.0 A-‐= 3.7 B+ = 3.3 B = 3.0

B-‐ = 2.7 C+ = 2.3 C = 2. 0 C-‐ = 1.7

F = 0 EX = Excused DL = Delayed FN = F/NonParticip

Student Honor Code: Academic institutions strongly endorse values that all students should feel compelled to live by including honesty, responsibility, and ethical behavior. In this course, all examinations and written projects are expressly intended to represent each student’s own work. Students caught cheating will be promptly reported to the University officials and face serious consequences. All reported incidents of academic misconduct will be considered with care and kept completely confidential


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Course Schedule (subject to modification)

Unit #/Topic

Dates Lectures Readings Activities Assessments

Unit 1/Welcome and Financial Accounting Introduction: FACE TO FACE class

1/21 • In class: The Big Picture (literally) of how this course provides a fundamental understanding of what makes the business world go ‘round.

10 pts -‐ participation

Unit 1/ Financial Accounting Introduction: online

1/21-‐1/28

Module overview and objectives

Module 1 from Easton et al. 4th edition (textbook and online lectures/guided examples)

• Name That Balance Sheet (group activity)

• Financial Statement links (group activity)

• Practice homework at MyBusinessCourse

Start Here Folder Icebreaker due by Wednesday midnight 1/28 (10 pts -‐participation) Name That Balance Sheet due by midnight 1/28 (15 pts – participation) Financial Statement links due by midnight 2/1 (20 pts – participation)

Unit 1/ Financial Statement basics and transaction analysis: online

1/29 -‐2/4

Transaction analysis overview and TurnedInHyundai Intro

Module 2 from Easton et al. 4th edition

• TurnedInHyundai interactive is available


Case 1 due by Sunday midnight 2/1 (20 pts – cases) TurnedInHyundai due by midnight 2/4 (10 pts-‐participation)

Unit 2/ Accounting Adjustments and Constructing Financial Statements:

2/5-‐2/15

Topic highlights for exam review



• Practice exam materials online

TurnedInHyundai due by Wednesday 2/4 (10 pts-‐participation) Case 2 due by Sunday, midnight


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online 2/15 (30 pts – cases)

EXAM WINDOW

2/16-‐2/18

EXAM 1 (to cover units 1 and 2) to be completed at Campus Testing Center before 6:55 PM 2/18; 90 minutes allowed (100 pts – exams)

Unit 3/ Exam 1 discussion and Intro to Inventory: FACE TO FACE class

2/18 none • Exam 1 discussion • M&M Inventory

introduction


Unit 3/ Reporting Operating Income and Operating Assets: online

2/19-‐3/4

Topic highlights

Module 5 and 6 from Easton et al. 4th edition

• TBD income statement activity


Case 3 due Sunday midnight 3/1 (20 pts-‐cases)

Unit 4/ Reporting and Analyzing Nonowner and Owner Financing: online

3/5-‐3/15

Topic highlights

Module 7 and 8 from Easton et al. 4th edition and Module 4 – 4-‐17 through 4-‐20 plus Appendix 4B



E&Y Fraud Study discussion due Wednesday midnight 3/11 (20 pts – participation) Case 4 due Sunday midnight 3/15 (20 pts-‐ cases)

EXAM WINDOW

3/16-‐3/18

EXAM 2 (to cover units 3 and 4) to be completed at Campus Testing Center before 6:55 PM 3/18; 90 minutes allowed (100 pts – exams)


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Unit 5/ Exam 2 discussion and Intro to Managerial Accounting: FACE to FACE class

3/18 Module 13 from Easton et al. 4th edition

• Exam 2 discussion • In class activity to

introduce managerial accounting


Unit 5/ Cost Behavior and Cost-‐Volume-‐Profit Analysis

3/19-‐4/1

Mizzou T-‐shirt activities

Modules 14 and 15 from Easton et al. 4th edition

• Name that Cost trivia


Case 5 due by Sunday midnight 3/29 (20 pts – cases) Name that Cost due by Wednesday midnight 4/1 (10 pts – participation)

Unit 6/ Relevant Costs and Benefits for Decision Making: online

4/2 – 4/13

Make or Buy walkthrough



• Practice exam materials

LastCase: Identifying connections, topic summary due Sunday midnight 4/5(5 pts – participation)

EXAM WINDOW

4/13-‐4/15

EXAM 3 (to cover units 5 and 6)to be taken at the Campus Testing Center before 6:55 PM 4/15; 90 minutes allowed (100 pts – exams)

Unit 7/ Exam 3 discussion and Intro to Variance analysis: FACE TO FACE class

4/15 • Exam 3 discussion • Standard Cost

activity


Unit 7/ Budgeting and Standard Costs

4/16-‐4/29

Topic overviews and more walkthroughs



Standard Cost Behavior discussion due by Wednesday 4/29 midnight (10 pts participation)


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Case 6 due by midnight Sunday 5/3 (20 pts – cases)

Unit 8/ Segment Reporting, Balanced Scorecard and Capital Budgeting Decisions

4/30-‐5/10

Connecting to what we have covered before




LASTCASE Identifying connections due midnight Sunday 5/10(20 pts – cases)

FINAL EXAM WINDOW

5/11-‐5/13

FINAL EXAM (to cover units 7 and 8) to be taken at the Campus Testing Center before 6:55 PM 5/13; 90 minutes allowed (100 pts – exams)

FINAL EXAM discussion and comprehensive wrap-‐up

5/13 7:45 PM – 9:45 PM

• Exam and wrap up activity


Course Policies

1. Participation (expectations)

o It is vitally important that our classroom environment promote the respectful exchange of ideas. This entails being sensitive to the views and beliefs expressed during discussions whether in class or online. Please speak with me before recording any class activity. It is a violation of University of Missouri policy to distribute such recordings without my authorization and the permission of others who are recorded.

o I will not respond to each post but will be monitoring each discussion. o Your success in this course will heavily depend on your ability to communicate, engage and

participate in all course activities. Successful completion of this course requires that a student keep up with all assignments and coursework. Timely participation in online activities is a very important part of this course and participation in these activities is not optional. You are expected to participate in a timely manner consistent with the requirements contained within the course syllabus.


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o If you are unable to participate in the scheduled class activity you must notify the instructor within the week of that class unit. An unexcused failure to engage or participate with the class will be counted as an absence from that activity and no participation points will be attributed. The instructor reserves the right to make judgment to accept and/or make–up assignments missed because of failed participation in the course activities.

2. Attendance Policies

o “Present” in class for online courses is determined by participation in an “academically related activity,” i.e. submission of an assignment, assessment or discussion forum posting. The last day of attendance is the last day a student is academically participating in the online course.

o Documentation that a student has logged into an online class is not sufficient by itself to demonstrate academic attendance.

3. Academic Integrity/Plagiarism

o You are responsible for being attentive to and observant of University policies about academic honesty as stated in the University’s Student Conduct Code.

o Academic dishonesty is a serious offense that may lead to probation, suspension, or dismissal from the University. One form of academic dishonesty is plagiarism – the use of an author's ideas, statements, or approaches without crediting the source. Academic dishonesty also includes such acts as cheating by copying information from another student. Plagiarism and cheating will not be tolerated.

o Academic dishonesty must be reported to the Office of Academic Affairs for possible action. The instructor shall make an academic judgment about the student’s grade on that work and in that course. The campus process regarding academic dishonesty is described in the “Policies” section of the Academic Affairs website: http://www.umsl.edu/services/academic/policy/academic-‐dishonesty.html

4. Access, Disability and Communication

o Students who have a health condition or disability, which may require accommodations in

order to participate effectively in this course, should contact the Disability Access Services Office. Information about your disability is confidential.

§ 144 Millennium Student Center § Phone: (314) 516-‐6554 § Website: http://www.umsl.edu/services/disabled/

o If you have difficulty communicating in English with the instructor of this course, contact the

Office of International Students and Scholar Services:

§ Phone: (314) 516-‐5229


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§ Email: [email protected] § Website: http://www.umsl.edu/~intelstu/contact.html

Student Support and Services

• Technical Support

o My Gateway (Blackboard): If you have problems logging into your online course, or an issue

within the course site, please contact the Technology Support Center:

§ Phone: (314) 516-‐6034 § Email: [email protected] § Website: http://www.umsl.edu/technology/tsc/

o Blackboard Collaborate: If you have any questions regarding Collaborate, contact the Faculty

Resource Center:

§ Phone: (314) 516-‐6704 § Email: [email protected] § Website: http://www.umsl.edu/technology/frc/

o Outside normal office hours, you may also contact Collaborate for 24/7 assistance:

§ Phone: (877) 382-‐2293 § Chat: http://support.blackboardcollaborate.com

• Academic Support

o The Online Writing Lab: At our My Gateway site, students can send their papers to our tutors,

who will read them and send them back with suggestions. Students can also access Turnitin, which identifies quoted material in their essays.

§ Visit the online Writing Lab page on MyGateway to submit drafts online. § We try to respond within 48 hours, but it may take longer, so allow ample time.

o NetTutor: Online tutoring in many subjects is now available through NetTutor. In your courses

on MyGateway, click on Tools and select NetTutor® to log in.

• Student Services:

o The Student Retention Services offers assistance tailored to specific student needs.

§ 225 Millennium Student Center § Phone: (314) 516-‐5300


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§ Email: [email protected] § Website: http://www.umsl.edu/~umslsrs/

**Online Class Netiquette/behavior

o Be self-‐reflective before you post an emotional response and reread what you have written to be sure it is positive. Think of your comments as printed in the newspaper. Your online comments will be seen, heard and remembered by others in the class.

o Use effective communication.

o Avoid the use of all caps or multiple punctuation elements (!!!, ??? etc). o Be polite, understate rather than overstate your point, and use positive language. o If you are using acronyms, jargon or uncommon terms, be sure to explain them so

everyone can understand and participate in the discussion.

o Ask for clarification to a point if you feel emotional from a classmate’s post. It is likely that you misunderstood his/her point. This strategy will also help you step away from the intensity of the moment to allow for more reflection.

o Sign your name. It is easier to build a classroom community when you know to whom you

are responding.

o Foster community. Share your great ideas and contribute to ongoing discussions. Consider each comment you make as one that is adding to, or detracting from, a positive learning environment for you and your classmates.

o Be constructive. You can challenge ideas and the course content, but avoid becoming

negative online. When you disagree politely you stimulate and encourage great discussion. You also maintain positive relationships with others with whom you may disagree on a certain point.

o Keep the conversation on topic by responding to questions, adding thoughtful comments about the topics at hand. Online dialogue is like conversation. If there is a particular dialogue going on, please add to it, but if you have something new to say, please post it in another thread.


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o Define your terms. When using acronyms or terms that are particular to your field (or new to our course), please define them for others.

financial)and)managerial)accounting) syllabi/5400...syllabus:))acctng5400,spring2015)...

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