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  • 1. Department of Accounting Syllabus for Accounting 301 Financial Statement Analysis Summer Quarter, 2008 Course Number Acct. 301.01 Course Title: Financial Accounting Analysis Quarter: Summer, 2008 Professor Dr. Robert Holtfreter (Dr. H) Office: Shaw/Smyser 313 Class Meeting: MW: 5:30 – 7:50 p.m. in Shaw 115. Office Hour: MTW: 1:45-2:00 p.m. & 3:50 – 5:00 p.m. Office Phone: 963-2144 (use voice mail for messages) Home Phone: 509-965-0369 (Yakima) Office E-mail Address: Holtfret@cwu.edu Home E-mail address: doctorh@q.com Web Address: http://www.cwu.edu/~Holtfret Teaching method: The class is structured through the use of lectures and student learning teams. Description of Course: Accounting 301 is an overview of the underlying concepts, preparation and use of financial statements from the point of view of the user. This course is not open to students who have previously taken an accounting course, and it is open to business administration majors only by permission of the instructor. Course Objectives: This course focuses on how the results of organizational operations are reflected in the financial statements and on how financial information is used in the decision- making process. Students learn basic accounting concepts and terminology, as well as how financial information is recorded and how financial statements are prepared. By the end of the course, the student should: 1. Know the terminology and concepts that provide the foundation for understanding accounting and business. Specifically, students should be able to: • Provide definitions for key terms
  • 2. • Distinguish between the major types of business concerns and describe how and why they use accounting in their daily activities. • Distinguish between debt and equity financing and describe the rights of creditors and shareholders. 2. Understand how accounting collects, classifies and communicates information about business operations to creditors and owners. Specifically: • Interpret the effects of various business transactions on the financial position of the organization. • Describe the concept of internal controls and give examples. 3. Know how various decision-makers (e.g., creditors and owners) use the financial reports to make decisions. Specifically: • Explain the primary purposes of and difference between the four basic financial statements (balance sheet, income statement, statement of cash flows, and statement of changes in owners’ equity). • Use the footnotes to the financial statements to find supporting information. • Calculate and interpret key financial ratios using the data in the balance sheet and income statement. 4. Appreciate the importance of trust, ethics, and the legal/regulatory environment in accounting and business processes. Specifically: • Explain the importance of having ethical directors and managers. • Explain the importance of having ethical accountants and auditors. 5. Recognize that current and emerging business practices will influence the evolution of accounting practices in the future, and explain why decision-makers request financial information beyond historical cost-based accounting information. 6. Know how to use computer technologies to assist in the preparation and analysis of financial statements. Specifically, students should be able to: • Use Excel and/or Word to complete assignments, including preparation of worksheets and the calculation of ratios. • Use the internet to find and interpret financial information about organizations. Required Text and Materials: Survey of Accounting, 4th Edition, by Carl S. Warren
  • 3. Student Responsibilities and Requirements: Although course attendance is not required, I fully expect students to attend class and take part in activities. There is a very high correlation between class attendance and grades. You are expected to have most of your homework done when you come to class. You should read the chapter material assigned each day enough times so that you can do most of your homework without looking back at the examples in the chapter. You also are highly encouraged to ask questions in class, attend help labs (if available) and come to the office for help. Homework: Chapter assignments will be announced in class on a daily basis and will posted to my web site on a weekly basis. At the start of class each day, each student's homework will be evaluated for degree of completion. If most of the homework is completed an (X) will be recorded; if about one-half of the homework is completed a (Y) will be recorded; if very little or none of the homework is completed a (-) will be recorded. This is a system to identify students who are experiencing difficulty completing the homework. One advantage is that you will be able to correct your own errors in class and be able to retain the homework for immediate study. Upgrading of teaching to enhance student learning: It is common knowledge that college graduates will work on teams or in groups when employed in the workplace. To help develop some of the skills necessary to work on teams and to enhance performance, student-learning teams will be used in class. To gain an appreciation of the positive outcomes of working in student-learning teams, please go to my web site and read the articles that I have recently published. Testing and grading policies: Your grade will be determined with the use of chapter quizzes on every chapter, three regular required exams, a financial analysis project, and a comprehensive optional comprehensive exam. Quizzes will count 10 points each and the three regular exams will count 100 points each. The financial analysis project will count 50 points. The three lowest quiz scores will be tossed out when determining your grade. All quizzes must be taken during the class period (not before or after class) i.e. they can’t be made up. One announced quiz will be given in each chapter. In addition, unannounced quizzes may be given at any time. You may take an exam on a day before it is given in class but not after. There are no make-up exams and if you miss one exam the final comprehensive exam will be required and the score on this exam will be used as the score for the exam you missed. The score on the
  • 4. comprehensive optional exam will not replace another exam score i.e. no exams will dropped. The comprehensive final exam will only count if it improves your overall average and grade for the course. This average will be determined by taking the total points you have earned in the course just prior to the optional final exam and divide it by the total possible points that could have been earned. Financial Analysis Project • A financial analysis project will afford the opportunity for 50 additional points. • Each student will select a public company from the list below and use the internet to find that company’s financial statements and/or annual report. • Questions which the student is to answer for his/her selected company will be provided the first week of class. • The project is due in two parts as per the tentative class schedule shown below, but students are advised to prepare each section of the analysis as we cover each chapter. Each part is worth 25 points. Grade Determination: Grades are based on the following preset standards; i.e. a curve will not be used. A = 91 – 100 D- = 65 A- = 90 F = 0 - 64 B+ = 88 - 89 B = 83 - 87 B- = 80 - 82 C+ = 78 - 79 C = 73 - 77 C - = 70 - 72 D+ = 69 D = 66 - 68 Sequence of chapters and tests. Chapter 1 Chapter 2 Chapter 3 Chapter 4 Test # 1 – chapters 1, 2, 3, 4.
  • 5. Chapter 5 Chapter 6 Chapter 7 Chapter 8 Test # 2 – chapters 5,6,7,8. Chapter 9 Chapter 11 Chapter 12 Chapter 13 Chapter 14 Test # 3 – chapters 9, 11,12,13,14. Class policies for taking tests/quizzes: Memory calculators, electronic dictionaries, cell phones, palms or any other electronic devises are not allowed to be used during the taking of an exam. Our department has a policy that only Texas Instruments “Math Mate” or a similar non- memory may be used. The only items allowable on the table are the test, non- memory calculator, and pencil/pen. No hats or caps can be worn. To get credit for an answer on a test or quiz, all relevant calculations must be provided. In other words, if you show the correct answer by guessing but do not provide the relevant calculations to support the answer, you will not get any credit or points. On the other hand, if you provide all the relevant calculations to support your derived answer but provide the wrong answer because of a math error, you will be given full credit for the work. I grade the work, not the answer, where calculations are required. Cheating of any sort, including the use of crib sheets, etc., will not be allowed. The penalty for such behavior will be an "F" for the course. After the quizzes and tests are scored, we will go over them in class. They will be collected and kept in my office. A score of zero will be recorded for any quiz or test that is not returned during the class session in which it was reviewed.
  • 6. Other important information: The homework assignments, the chapters assigned to tests, and the number of exams is subject to change. The professor reserves the right to change the scores on quizzes and tests as well as the grade for the course before or after the grades are turned in if errors are found in scoring/grading. The class begins on Monday, June 16. Last day for change of schedule is Weds. June 18. Last day for uncontested withdrawal is Friday July 11. Last day for hardship withdrawal is Friday August 8. Last day of classroom instruction is on Tuesday August 13. The comprehensive optional final exam is given on Wednesday, August 13 during the regular class time. Students who have special needs or disabilities that may affect their ability to access information or material presented in this course are encouraged to contact me or the office of Disability Support Services at (509) 963-2171 for additional disability-related educational accommodations. University policies regarding academic dishonesty, sexual harassment, plagiarism, and diversity will be strictly observed in this course. See Appendices A and B in the 2005-2006 CWU Undergraduate/Graduate Catalog. Financial Analysis Project Companies Financial Company Name Business Statement Date Nike, Inc. Manufacturer of athletic footware, Fiscal year ended apparel, equipment and accessory products May 31, 2008 Home Depot, Inc. Retailer of home improvement products Fiscal year ended January 29, 2008 Starbucks Manufacturer and retailer of high quality Fiscal year ended Corporation coffees, teas, and associated products October 2, 2007 J.C. Penney Company, Retailer of family apparel, jewelry, shoes, Fiscal year ended Inc. accessories and home furnishings January 28, 2008
  • 7. The Walt Disney Diversified entertainment company with Fiscal year ended Company operations in studio entertainment, parks October 1, 2007 and resorts, consumer products, and media networks Redhook Ale Independent brewer of craft beers Fiscal year ended Brewery, December 31, 2007 Incorporated Netgear, Inc. Designer, developer and marketer of Fiscal year ended networking products for small businesses December 31, 2007 and home users Abercrombie & Fitch Specialty retailer of high-quality, casual Fiscal year ended Co. apparel for men, women and children January 28, 2008
  • 8. Dr. Robert Holtfreter Accounting 301 I have carefully read the course syllabus and completely understand and agree with all of its contents. Signed _____________________________ Date _____________________________