A201 Intro to Financial Accounting Course Outline For Fall 2008 (Class #20388 Tu, Th  7:00-8:15 p.m.  KO 110)
  INSTRUCTOR: Dianne Roden, PhD Office: KO 174G, phone: 455-9470, fax: 455-9348
Office hours: Tu, Th  2:30-4:00 and 5:30-7:00 p.m. Or by appointment EMAIL: droden@iuk.edu

Web Page:  home page 

TEXT:          text      Weygandt, Kieso & Kimmel,  Financial Accounting, 6th edition  
Includes chapter summaries and on-line quizzes.

OPTIONAL: Study Guide for Financial Accounting. This book will be on reserve in the library.

PREREQUISITES:  completion of 26 credit hours.
 
EXAMS: There will be three exams, two during the semester and one during the final exam period.
 

first midterm	Sept 30	in class
second midterm	Nov 4	in class
Final exam	Dec 16	7:00-9:00 p.m.

 
Your grade will be determined based on the following weights:
 

class participation	10%	25 points
first midterm	30%	75 points
second midterm	30%	75 points
Final exam	30%	75 points
TOTAL	100%	250 points

Exam format will contain some multiple choice, some short answer, and a number of problems similar to ones assigned in class.

CLASS PARTICIPATION: Problems and questions from the text will be assigned each week and the solutions discussed in class. Participation in this process, other class discussions, and general attendance will impact this portion of the grade.

GRADES: A 90-100, B 80-89, C 70-79, D 60-69, F < 60
(plus and minus grades will be given in the high & low range of each group)
Grades will be posted on Oncourse at:     http://oncourse.iu.edu
 
GOALS: 

• Develop an understanding of the business environment to provide useful information to decision makers.
• Develop an understanding of accounting procedures to properly use the information provided by accountants.
• Understand the needs of decision makers and select the measurement procedure that meets these needs.
  

OBJECTIVES:

• Understand the objectives of accounting.
• Understand how accounting reports, primarily financial statements, help decision makers.
• Understand how the business environment influences accounting.
• Understand what constitutes a business transaction.
• Understand the various account classifications.  
• Analyze and record business transactions in terms of the accounting model.
• Recognize and explain the sequential phases of the accounting cycle.
• Identify, describe, and prepare each of the major financial statements.
  

 
The structure of this class makes your individual study and preparation outside class extremely important. You will get much more from the lectures if you attempt the problems on your own and you come to class prepared.
The course builds from chapter to chapter. A failure to understand the major concepts of one chapter will lead to difficulties in understanding the chapters which will follow.
 
LIBRARY RESOURCES:
Solutions to all problems will be put on reserve in the library after they are discussed in class. A Study Guide for Financial Accounting will also be on reserve in the library. The IUK library offers a large variety of resources to supplement this course.  Examples include current newspapers (Wall Street Journal), magazines (Business Week), databases (ABI Inform), and access to the Internet.
 

WEEK	DATES	TEXT	TOPIC & ASSIGNMENT  (Q=Questions, E=Exercises & P=Problems at end of each chapter)
1	Aug 26 Aug 28	intro ch1	Introduction  Overview of Accounting
2	Sept 2 Sept 4	HW  ch2	ch1 Q#3,4,6,12,14,18        E#5,6,8,9,14 The Recording Process
3	Sept 9 Sept 11	HW  ch3	ch2 Q#4,5,6,8,12,18          E#2,3,5,9,11       P-2A  Adjusting the Accounts
4	Sept 16 Sept 18	HW ch4	ch3 Q#2,4,5,8,11,17          E#7,8,9,13,14     P-2A(part a) Completion of the Accounting Cycle
5	Sept 23 Sept 25	HW  review	ch4 Q#2,5,6,9,14,16,18      E#2,3,4     P-1A  Review for first exam
6	Sept 30 Oct 2	EXAM I  ch5	EXAM I  Accounting for Merchandising Operations
7	Oct 7 Oct 9	HW  ch6	ch5 Q#5,6,7,8,16,20           E#2,3,4,6,8,9  Inventories
8	Oct 14 Oct 16	HW  ch7	ch6 Q#2,4,5,10,11,14         E#1,4,6,8      P-3A  Accounting Principles
9	Oct 21 Oct 23	HW  ch8	ch7 Q#1,3,5,7,10,11,15      E#1,3,4,5,7    P-3A  Internal Control & Cash
10	Oct 28 Oct 30	HW review	ch8 Q#2,3,4,9,12,16          E#2,3,8,9,11 Review for second exam
11	Nov 4 Nov 6	EXAM II ch9	EXAM II  Accounting for Receivables
12	Nov 11 Nov 13	HW ch10	ch9 Q#5,6,8,10,15,16         E#2,3,4,6,10,11    P-2A Plant Assets, Natural Resources & Intangible Assets
13	Nov 18 Nov 20	HW ch11	ch10  Q#4,5,7,10,14,21      E#3,5,6,9,12      P-2A Liabilities
14	Nov 25 Nov 27	No class	THANKSGIVING
15	Dec 2 Dec 4	HW ch12	ch11 Q#4,7,8,10,13,22      E#3,4,9,10,20,21 Stock Transactions, Dividends & Retained Earnings
16	Dec 9 Dec 11	HW review	ch12 Q#1,3,4,8,12,20        E#3,8,9,10,13,15,17 review for final exam
17	Dec 16	FINAL  EXAM	FINAL EXAM

 

The Mission Statement of the IU Kokomo School of Business may be found at:  www.iuk.edu/~kobus/

Indiana University Kokomo provides equal access and support services to students with special needs. Students with documented disabilities should contact the University Division (455-9309) and discuss any necessary support services or accommodation with the instructor. 

INTERESTING FINANCIAL ACCOUNTING LINKS

 

CNN FINANCIAL  business news and stock quotes
FASB Financial Accounting Standards Board
AICPA  American Institute of Certified Public Accountants
LOTS MORE FINANCE LINKS  interesting web sites for finance	Fun Finance Sites

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