COLLEGE OF BUSINESS & PUBLIC AFFAIRS

Course Data Sheet

Spring Semester 2007

 

 

Course Number and Title:

Accounting 201; Financial Accounting for Decision Making

Course 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 B.S.B.A. Mission

Students will:

     BSBA 2 – have an understanding of the ethical business aspects.
     CBPA 4 – demonstrate effective verbal and written communication skills.
     CBPA 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,
  4. the usefulness and limitations of financial statements prepared in accordance with generally accepted accounting principles (GAAP),
  5. the need for effective communication to users of accounting information,
  6. analytical and critical thinking problem solving skills,
  7. and the relationship to the business core and to prepare the student for further study in other business courses.

 

Students with

 Special Requests

“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 2007

Office:

229B Business Administration

 

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

E-mail:

bputman@utm.edu

 

Fax:  (731) 881-7241

Web Location :

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

 

Office Hours: 

9:00-11:00 and 1:00-2:30 Tu and Thurs;  9:00-12:00 Wednesday                    

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 two unexcused absences are excessive.  For each unexcused absence in excess of two, one (1) point will be deducted from the total of 20 allowed as part of your participation 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:

 

 

A = 450-500 Pts

B = 400-449 Pts

C = 350-399 Pts

D = 300-349 Pts

F = LT 300 Pts

 

 
First Exam              100 Points                                                                                           

Second Exam          100       
Third Exam             100    
Final Exam              100    
Participation*          100     
Total                        500  Points

* See preceding discussion on how to earn these 100 points

 


                                  Tentative Class Schedule

Date

Chapters

Topics

Class work

Homework to be turned in

Relationship of

Homework

to the College's

 Learning Goals

January 16

 

1

Course Introduction and Review of Syllabus

 

 

 

18

1




Accounting in Business

The Accounting Equation

MC 1-5; Problem 1-7A

 

 

23

1




Financial Statements as a means of communication

Home-work starters

 

1-1B;1-3B;1-4B;1-5B;1-6B;; BTN1-4

BSBA 3

BSBA 4

 

25

2




Accounting for Transactions: Journal Entries and the

MC 1-5

Pr 2-1A

Chapter 1 Homework Due

 

30

2

Accounting Equation

Homework Starters

Ex 2-8;2-9;Pr 2-2B;BTN 2-3

BSBA2

BSBA5

February 1

3

Preparing Financial Statements

Adjustments and

MC 1-5; Pr 3-7A

Chapter 2 Homework Due

 

6

3




Accrual Basis versus Cash Basis Financial Statements

Homework Starters

Ex 3-13;3-14;Pr 3-4B; BTN 3-9

BSBA5

BSBA4

8

Exam-1

Chapters (1-3)

 

 

 

13

4

Accounting for Merchandising Operations

MC 1-5;Pr 4-3A

Chapter 3 Homework Due

 

15

4

Sales discounts and returns; Inventory methods

Home-work Starters

Ex 4-2;4-3;4-8;Pr 4-1B;BTN4-3

 

BSBA5

BSBA2

20

5

Accounting For Inventories

Perpetual and periodic

MC 1-5;

Pr 5-1A

Chapter 4 Homework Due

 

22

5

FIFO, LIFO, Weighted average methods

Homework Starters

Ex 5-1;5-9;Pr 5-3B;5-4B

BTN 5-4

BSBA4

 

 

27

6

Accounting for Cash and Internal Controls

MC 1-5;

Pr 6-3A;6-5A

Chapter 5 Homework Due

 

March 1

6

Accounting for Cash

Homework Starters

Pr 6-1B;6-2B; 6-4B;BTN6-7

BSBA5

6

Exam-2

Chapters (4-6)

 

 

 

8

7

Accounting for Receivables

MC 1-5;

Pr 7-3A

Chapter 6 Homework Due


12-16

 

Spring Break!!!

 

 

 

20

7

Bad Debts and Allowances; Notes Receivable and Interest

Homework Starters

Ex 7-8;Pr 7-2B;Pr 7-4B; BTN 7-3

BSBA2

BSBA5

22

8

Accounting for Long-Term Assets

MC 1-5; Pr 8-1A; Ex 8-5;

Chapter 7 Homework Due

 

27

8




Depreciation; Depletion; Amortization; Disposals

Homework Starters

Ex 8-7; 8-11; 8-13; 8-14; Pr 8-3B; BTN 8-1

BSBA4

BSBA5

29

9

Accounting for Current Liabilities

MC 1-5; EX 9-5; Pr 9-4A

Chapter 8 Homework Due

 

April 3

9

Payrolls and Payroll Taxes; Notes and interest payments

Homework Starters

Ex 9-1; Pr 9-1B; Pr 9-5B; BTN 9-4

BSBA 4

5

Exam-3

Chapters (7-9)

 

 

 

10

10

Accounting for Long-Term Liabilities

MC 1-5; Pr 10-2A; 10-4A

Chapter 9 HomeworkDue

 

12

10




Bonds Payable; Issue price; interest and premium (discount) amortization

Homework Starters

 

Ex 10-7; Pr 10-3B; Pr 10-5B; BTN 10-4

BSBA 4

 

17

11

Accounting for Equity

MC 1-5; Pr 11-2A

Chapter 10 Homework Due

 

19

11

Preferred and Common Stock; Dividends

Homework Starters

Ex 11-3; 11-5; Pr 11-4B; BTN 11-3

BSBA2

 

24

12

Accounting for Cash Flows

MC 1-5; Ex 12-1;

Chapter 11 Homework Due

 

26

12

 

12-5; 12-8; 12-9

 

 

May 8

3:00-5:00 PM

Final Exam

Chapters 1-12 (Comprehensive)

 

Place-TBA

 

 

                                                                    Important dates during this semester:

 

                        Last day to add a course or drop with 100% refund……January 22

                        Mid-term progress reports due………………………….March 5

                        Spring break………………………………………….March 12-16

                        Last day to drop a course……………………………….March 9

                        Final Exam (3:00-5:00 pm)……………………………..May 8