COLLEGE OF BUSINESS AND PUBLIC AFFAIRS

Course Data Sheet

Spring Semester 2008

Course Number and Title

Accounting 201; Financial Accounting for Decision Making

Description and Prerequisites

This course is designed to help students appreciate the role of accountants in providing information helpful to decisions of investors, creditors, government regulators, management and others, and understand how that information can be used.  Emphasis is on comprehending the meaning and value of the balance sheet, income statement, and statement of cash flows.  Prerequisites: Sophomore standing and MATH 140 or MATH 160 or MATH 185 or MATH 210 or MATH 251

Course Text

Financial Accounting Fundamentals, 2007 Ed.  John J. Wild. ISBN 13:978-0-07-340397-7.  McGraw-Hill Irwin, 2007.  Workbook and study guides are optional but recommended.
You are expected to have this text book at all class sessions.

Mission of the College of Business and Public Affairs

The College of Business and Public Affairs, consistent with the overall Mission of The University of Tennessee at Martin, develops leaders whose skills, innovative abilities and ethical standards contribute to a diversified and dynamic society. With a primary focus on teaching, the College emphasizes quality undergraduate and graduate instruction and faculty commitment to student and regional development. Programs are delivered in an environment that encourages a broad understanding of the forces shaping global social, political and economic change. The College promotes and supports cooperative alliances with stakeholders and outstanding teaching, research, and service.

Learning Objectives related to the BSBA Mission

After completion of this course students will:

     BSBA 2 – have an understanding of the ethical business aspects.
     BSBA 4 – demonstrate effective verbal and written communication skills.
     BSBA 5 – demonstrate an understanding of the business core.

Course Objectives As approved by Accounting Faculty

The study of Financial Accounting Information for Decision Making has as its objective to provide the student with an understanding of:

  1. the accounting profession, terminology, concepts, principles, business ethics, and the work of accountants, both professional and private,
  2. the role of accounting in our economic society,
  3. tools needed to analyze and process accounting data through to the end result of comprehension of  the acceptable form of the balance sheet, income statement,

and the cash flow statement,

  1. the usefulness and limitations of financial statements prepared in accordance with generally accepted accounting principles (GAAP),
  2. the need for effective communication to users of accounting information,
  3. analytical and critical thinking problem solving skills,
  4. and the relationship to the business core and to prepare the student for further study in other business courses.

 

Students with Special Needs

“Any students eligible for and requesting academic accommodations due to a disability are required to provide a letter of accommodation from Disability Services

(P.A.C.E. Office) or Student Academic Support Center within the first week of the semester."

 

 

 

 


                                                                                                         Class Data Sheet

Instructor:

Dr. Robert L. Putman, CPA

Semester:  Spring 2008

Office:

315 Clement Hall

Phone:  (731) 881-7305 or (731)-352-5797

E-mail:

bputman@utm.edu

Fax:  (731) 881-7241

Web Location :

http://www.utm.edu/staff/bputman

Office Hours: 

1:00-3:30 M and W

Other hours by appointment                   

Publisher’s Website

http://www.mhhe.com/wild

 

 

 

*Attendance Policy

All students are expected to attend class and to participate in classroom discussion. Excessive absences will result in the lowering of one's participation points. More than three unexcused absences are excessive.  For each unexcused absence in excess of three, one (1) point will be deducted from the total of 20 allowed as part of your participation grade.

 

Exam

Policy

The first three exams will be 50 minute exams and will be for a possible 100 points.  The final exam will be comprehensive, will cover Chapters 1-12, and will be a 2 hour exam.  The final will also count a possible 100 points.  There will be no makeup exams regardless of reason for missing the exam during the semester.  If one is unavoidably away from class due to illness, job related duties, or other emergency situations and has to miss class, the final exam grade will also count for one (only 1) missed exam.  In order to be fair to those who take all three of the semester exams at the scheduled times, I will allow you to replace the lowest of the three grades you received on the chapter exams with the final exam if it is higher than that lowest grade. 

 

*Homework Policy: 

Homework is due at the start of the class meeting according to the Tentative Schedule that follows later. It will not be taken after class. If you cannot attend, be sure that you send it with a friend or submit in to me in person shortly after the class you miss. For each problem not TURNED IN or INCOMPLETE WHEN SUBMITTED, one point will be deducted from your 60 point homework grade.  There will be no points awarded for late homework unless you have a valid excuse for such tardiness.  Points will be awarded for each problem you turn in if it is substantially complete.  If you receive an S on the problem, it means that you received satisfactory credit for that problem.  If you receive a U on the problem, it means no credit was awarded for that problem.  For any U grade you receive, you may complete the homework and show it to me within one class period and I will change the grade to S.  Let me reemphasize that there will be no credit allowed for homework submitted late unless you receive permission from me.

 

*Classroom

Participation 

 You will be expected to enter into classroom discussions.  This includes asking and answering questions, bringing real life situations into the classroom through initiating discussions about them, and your overall attitude demonstrated throughout the course.  Everyone begins the course with 20 points automatically.  Points will be deducted from the 20 points throughout the semester for failure to participate as expected.  Any form of classroom activity that distracts from the learning process as determined by your instructor will result in such reduction of the 20 points.

 

   

Grades: 

Final grades will be determined as follows:

Letter grades will be assigned as follows:

 

 

First Exam Chapters 1-3         100 points

Second Exam Chapters 4-6   100 points

Third Exam Chapters 7-9       100 points

Final Exam Chapters 1-12     100 points

Participation                              100 points

Total possible points                500 points

 

A = 450-500 points

B = 400-449 points

C = 350-399 points

D = 300-349 points

F = Less than 300 points

 

 


 

 

 

TENTATIVE SCHEDULE

 

Date

 

Class

Minutes 

Chapters

Topics

Class work

Homework to be turned in

Relationship of

Homework

to the College's

 Learning Goals

January 14,

2008

 

30

20

1

Course Introduction and Review of Syllabus; Discussion of course requirements

 

 

 

16

15

35

1




Users of financial accounting; Accounting Equation and account classification;

MC 1-5; Problem 1-7B

1-1A, 1-2A

 

18

20

 

30

1




Financial Statements as a means of communication;

Articulation of the financial statements

Homework starters

 

1-7A ; BTN 1-3                          

 

BSBA 2

BSBA 5

 

21

 

 

Holiday: No class

 

 

 

23

15

35

2




Accounting for Transactions: analyzing and recording

MC 1-5

 

Chapter 1 Homework Due

 

25

50

2

Use of the Accounting Equation in recording transactions

Pr 2-2B

Ex 2-1;2-4; 2-14

 

28

35

15

2

Double-entry accounting and posting; The trial balance

Homework Starters

Pr 2-2A;BTN 2-4

BSBA4

BSBA5

30

30

 

20

3




Preparing Financial Statements

Accrual vs. cash basis financial statements

MC 1-5

Chapter 2 Homework Due

 

February 1

40

10

3

Deferrals and Accruals and the need for adjustment

Pr 3-1B

 

 

4

50

 

3

Adjusted trial balance and financial statements

Homework starters

Pr 3-2A; BTN 3-4

BSBA5

BSBA4

6

50

 

Exam No. 1 Chapters 1-3

 

 

 

 

8

25

 

25

4

Merchandising Operations;

Discounts and transportation costs

MC 1-5;

 

Chapter 3 Homework Due

 

11

50

4

Perpetual and periodic  inventory systems

Pr 4-2B

Ex 4-2;4-8;

 

 

 

13

25

25

 

4

Sales of merchandise; discounts; Returns and allowances

Homework Starters

Pr 1-4A; BTN 4-3

BSBA2

BSBA5

15

50

5

Accounting for inventories

MC 1-5;

 

Chapter 4 Homework Due

 

18

50

5

FIFO, LIFO, Weighted average methods

Pr 5-1B

Ex 5-1; 5-2; 5-5

BTN 5-3

 

20

20

 

30

5

Lower of cost or market valuation

Perpetual and periodic systems revisited

Homework Starters

 

BSBA5

BSBA2

22

50

6

Internal Control principles

MC 1-5

Chapter 5 Homework Due

 

25

50

6

Control of cash receipts and cash disbursements

Ex 6-4; Pr 6-4A

Pr 6-1A; Ex 6-5

BSBA5

27

50

6

Banking and bank statement reconciliation

Homework Starters

Ex 6-8; BTN 6-3

BSBA2

29

50

 

Exam No. 2 Chapters 4-6

 

 

 

March 3

50

7

Accounting for receivables

MC 1-5

Chapter 6 Homework Due

 

5

50

7

Bad Debts and methods of estimating bad debts

Pr 7-2B; Ex 7-8

Pr 7-2A; Pr 7-3A

BSBA5

7

30

20

7

Notes receivable and dishonored notes

Homework Starters

Ex 7-6; BTN 7-4

BSBA 4

10-16

 

 

Spring Break!!

 

 

 

17

15

 

35

8




Accounting for long-term assets

Plant assets and depreciation

MC 1-5

Chapter 7 Homework Due

 

19

30

20

8

Depreciation methods and reporting depreciation

Ex 8-5; Ex 8-12;

Ex 8-13; 8-14

 

Pr 8-5A; Ex 8-11

 

 

21

 

 

Holiday: No class

 

 

 

24

20

30

8

Disposal of plant assets

Natural resources and intangibles

Homework Starters

Ex 8-15; Ex 8-3; BTN 8-3

BSBA2

 

26

50

9

Defining current liabilities

MC 1-5

Chapter 8 Homework Due

 

28

30

20

9

Short-term notes payable and interest expense

Pr 9-1B; Pr 9-5B

Ex 9-5; Ex 9-6

 

31

50

9

Recording payroll and payroll liabilities

Homework Starters

Ex 9-7; Ex 9-1; BTN 9-3

BSBA2

BSBA5

April 2

50

 

Exam No. 3 Chapters 7-9

 

 

 

4

50

10

Defining long-term liabilities

MC 1-5

Chapter 9 Homework Due

 

7

10

40

10

Bond financing; issuances at par, premium, or discount

Ex 10-6

Pr 10-2A

 

9

50

10

Amortization of bond premium and discount

Homework Starters

Pr 10-3A; BTN 10-3

BSBA2

BSBA5

11

15

35

11

Corporate equity; characteristics of corporations

MC 1-5

Chapter 10 Homework Due

 

14

50

11

Stock issuance at par and in excess of par value

Ex 11-3; Ex 11-10

Ex 11-7

Pr 11-1A; Pr 11-2A

 

16

25

25

11

Dividends, stock splits and treasury stock

Homework Starters

Ex 11-2; BTN 11-3

BSBA2

BSBA5

18

50

12

The Statement of Cash Flows revisited

MC 1-5

Chapter 11 Homework Due

 

21

50

12

Operating, Investing and Financing activities

Ex 12-2; Ex 12-3

Ex 12-6; Ex 12-7

Pr 12-1A

BSBA5

23

15

 

35

12

Non-cash Investing and Financing activities; Direct and indirect method of reporting operating activities

Homework Starters

Pr 12-3A

BSBA5

25

50

 

Wrap-up and review for final

 

Chapter 12 Homework Due

 

28

50

 

Pre-final check-up; point reconciliation questions

 

 

 

May 2

 

 

Comprehensive Final Exam

5:15-7:15 PM

Place-TBA

 

                 




 

 

 

Ethical  Considerations

You may have noticed that one of the BSBA learning objectives is that the student will have an understanding of the ethical business aspects.  Doing business, as in all other endeavors of life requires high ethical conduct in order for society to exist and advance for the betterment of all.  You are encouraged to review the Standards of Conduct as listed in “Students Responsibilities” section of the student handbook.  Cheating in any form in this class will not be tolerated and could result in dismissal from the class. 

 

Important Dates During the Semester

Last day to add a course or drop with 100% refund………………………………………January 18

Mid-term progress reports due………………………………………………….………….March 3

Last day to drop a class…………………………………………………………………….March 7

Spring break………………………………………………………………………………...March 10-16

Final Exam (5:15-7:15 pm)………………………………………………………….………May 2