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School of Business

 

A201 Intro to Financial Accounting
 COURSE OUTLINE FOR SPRING 2014
(Class# 8664  Tu & Th 1:00-2:15 p.m. KO 104)

INSTRUCTOR: Dianne Roden, PhD

face
Office: KO 174G, phone: 765-455-9470, fax: 765-455-9348
Office hours: Tu & Th   3:00-6:00 p.m.
Or by appointment 

email EMAIL: droden@iuk.edu
WEBPAGE:  Roden's home page
TEXT:    text      Weygandt,  Kimmel & Kieso,  Financial Accounting, 8th edition
The student companion website for the text includes chapter summaries and on-line quizzes.   companion website  

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 Feb 18
in class
second midterm April 1
in class
Final exam May 6
1:00-3:00 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 and a failure to understand the major concepts of one chapter will lead to difficulties in understanding the chapters that follow.
 
LIBRARY RESOURCES:
Solutions to all problems will be put on reserve in the library. A Study Guide for Financial Accounting will also be on reserve. 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 Jan 14

Jan 16
Intro

Ch1
Introduction 

Overview of Accounting
2 Jan 21

Jan 23
HW 

Ch2
Ch1 Q#3,4,6,12,14,18       E#5,6,8,9,14

The Recording Process
3 Jan 28

Jan 30
HW
 
Ch3
Ch2 Q#4,5,6,8,12,18    E#2,3,5,9,11     P-2A
 
Adjusting the Accounts
4 Feb 4

Feb 6
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 Feb 11

Feb 13
HW 

review
Ch4 Q#2,5,6,9,14,16,18    E#2,3,4     P-1A 

Review for first exam
6 Feb 18

Feb 20
EXAM I 

Ch5
EXAM I 

Accounting for Merchandising Operations
7 Feb 25

Feb 27
HW
 
Ch6     
Ch5 Q#5,6,7,8,16,19       E#2,3,4,8,10
 
Inventories
8 March 4

March 6
HW
 
Ch7
Ch6 Q#2,4,5,10,11,14    E#1,4,6,8     P-3A
 
Internal Control & Cash
9 March 11

March 13
HW 

Ch8
Ch7 Q#2,5,6,7,12,15,22   E#2,3,8,9,11
 
Accounting for Receivables
10 March 18

March 20
no class SPRING BREAK
11 March 25

March 27
HW

review
Ch8 Q#6,8,10,15,16         E#2,3,4,10,11    P-2A

Review for second exam
12 April 1

April 3
EXAM II

Ch9
EXAM II
 
Plant Assets, Natural Resources & Intangible Assets
13 April 8

April 10
HW

Ch10
Ch9 Q#4,5,7,10,14,22      E#3,5,6,9,12   P-2A

Liabilities
14 April 15

April 17
HW

Ch11
Ch10 Q#4,7,8,10,13,22    E#3,4,9,10,12,21

Stock Transactions, Dividends & Retained Earnings
15 April 22

April 24
HW

Ch15*
Ch11 Q#1,4,8,12,18,20      E#4,8,9a,13,17,19
 
Accounting Principles (*available online)
16 April 29

May 1
HW

review
Ch15* Q#1,3,5,7,9,13,14     E#1,3,4,5    P-5A  (*online)

review for final exam
17 May 6

FINAL 

FINAL EXAM
 

The Mission Statement of the IU Kokomo School of Business may be found at:  Mission

Indiana University Kokomo provides equal access and support services to students with special needs. Students with documented disabilities should contact the Accessibility Center (756-455-9301) and discuss any necessary support services or accommodation with the instructor. 

INTERESTING FINANCIAL ACCOUNTING LINKS

 

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