Mgmt_200_Fall_2008_Syllabus.doc

Management 200 ? Introductory Financial Accounting Course Syllabus ? Fall 2008 Krannert School of Management Purdue University Class times: Section 1, 7:30 ? 8:20 am, MWF, CL50 224 Section 2, 8:30 ? 9:20 am, MWF, CL50 224 Instructor: Dr. Tony Greig Office: KRAN 528 Home: 3318 Putnam Street Phone: (765) 49-44394 West Lafayette IN 47906 Email: HYPERLINK "mailto:greig@purdue.edu" greig@purdue.edu Phone: (home) (765) 463-6555 HYPERLINK "mailto:mgmt200@mg mt.purdue.edu" (cell) (765) 586-0839 Office Hours: Thursday 10am ? noon. I am also available at other times by appointment. Please contact me via email for issues regarding Mgmt 200 or visit during office hours. For emails please use ?Mgmt 200? as the subject. My home phone/cell phone is for urgent issues only. For questions regarding class material, class assignments, homework problems or exams, please contact the Teaching Assistants first. Teaching Assistants: I will be assisted by four teaching assistants. All are graduate students in the Krannert School of Management. They will assist students in interpreting course material and class assignments, and in preparing for homework and exams, during office hours. These office hours tend to get very congested, for general review and homework preparation I would prefer you utilize the supplemental instruction review sessions. The teaching assistants will also assist in proctoring exams, and grading homework assignments and exams. Office hours will begin week 2 (Tuesday September 2). The four teaching assistants are Alex Asiago, Ryan Leidigh, James Turner, and David Zhang. Office: KRAN 513 Office Hours: Alex Asiago TBD Ryan Leidigh Wednesday 2-4pm James Turner TBD David Zhang TBD Supplemental Instruction: MGMT 200 study sessions are available. These study sessions are FREE and completely VOLUNTARY. The study sessions are structured to encourage ?hands-on? student interaction and are lead by upperclassmen. The SI coordinator is Ryan Horine HYPERLINK "mailto:rhorine@purdue.edu" rhorine@purdue.edu . These review sessions will begin in week 3 (Monday September 8) Review Sessions: Monday 7:00-9:00pm RAWLS 1057 Thursday 7:00-9:00pm RAWLS 1057 Office hour: Time and location TBD Instructor background: I am a New Zealander (a ?Kiwi?), 55 years old and a continuous term lecturer in the Krannert School. I have been at Purdue since 2002 and I was previously on the Krannert School of Management faculty from 1991 to 1998. I have also taught at the University of Evansville (Evansville, Indiana), the University of Rochester (Rochester, New York), and the University of Otago (Dunedin, New Zealand and the southernmost university in the world). I received a Bachelor of Commerce from the University of Otago and a Master of Science in Applied Economics and Doctor of Philosophy in Business Administration (Accounting and Finance) from the University of Rochester. I have work experience in both the Government and Private sectors. My research deals with financial reporting issues, accounting policy choices, and forensic accounting. My research has been published in the Journal of Accounting and Economics. I am a Chartered Accountant (CA - the NZ equivalent of the CPA), a Certified Management Accountant (CMA) and a Certified Financial Manager (CFM). I was awarded the Robert Beyer Gold Medal for excellence on the CMA examination. I am a member of the New Zealand Institute of Chartered Accountants (NZICA), the Institute of Management Accountants (IMA), the American Accounting Association (AAA), the Accounting and Finance Association of Australia and New Zealand (AFAANZ), and the Association of Chartered Accountants in the United States (ACAUS). I am also a member of Beta Alpha Psi (accounting, finance & MIS honorary), Beta Gamma Sigma (business fraternity), Delta Sigma Pi (business fraternity), and Theta Xi (social fraternity). I am the faculty advisor for the Purdue chapter of Beta Alpha Psi, the Purdue Accounting Association, and Our Lifetime Foundation (OLF). I am a member of the Purdue SIFE (Students in Free Enterprise) Business Advisory Board and a Faculty Fellow at Harrison Hall. My wife, Lu, and I have four children, two sons and two daughters, and six grandchildren. My oldest son, Joshua (BS-CEE, Purdue), lives in Fishers, IN with his wife Amie (nee Corum), daughters Allison and Natalie, and works for BMG Direct; Matthew (BS-CEE, Purdue) lives in Bothell, WA with his wife Christine (nee Racine), sons Noah and Owen, and works for Microsoft; Megan (BS-Mgmt, Purdue) lives in Omaha NE with her husband, Adam Wetzel, son Tyler, daughter Haley, and works for PayPal; and Lauren (BS-Environmental Plant Studies, Purdue) is with the Peace Corps in the Philippines. My other passions are wine-tasting and exercise: running, swimming, biking, orienteering and caving. I have run several marathons, ultra-marathons, and have completed a half-Ironman triathlon. I hope to run a marathon in every state and have run 53 marathons in 34 states (and DC), including 4 so far in 2008. One of my great-great-great-great grandfathers was Arthur Guinness (1725-1803), the founder of Guinness Breweries. Catalog description: MGMT 200 Introductory Accounting: The objectives of the course are to help students (1) understand what is in financial statements and what the statements say about a business, (2) identify the business activities that caused the amounts that appear in the statements, and (3) understand how, when, and at what amount the effects of manager and employee actions will appear in the statements. Course objective: The course has two primary objectives. The first is to give you the skills to produce financial information, i.e. to send the relevant signals to decision makers. The second is to give you the skills to interpret the financial report, i.e. to receive the signals. How you use these signals for economic decisions is covered by courses in management accounting, financial statement analysis, finance, and strategic management. At the end of the course, you should be able to navigate your way through the primary financial statements of a typical publicly traded US corporation. To meet these objectives you will gain an understanding of the processes used to generate, record, aggregate, and report financial information. You will gain an understanding of the reasoning behind the processes used to record financial information and the manner in which it is reported to external decision makers. You will gain an understanding of the four basic financial statements: the balance sheet, the income statement, the statement of retained earnings, and the statement of cash flows, and how these statements are articulated. Finally you will gain an understanding of the importance of financial statement information, despite its limitations, in interpreting the performance of organizations. Course Conduct: There are three classes per week and class meetings follow a lecture and problem analysis format. Lectures and problem assignments are used to focus attention on important topics. Class sessions will concentrate on introducing basic accounting concepts and procedures while demonstrating these concepts by working assigned problems. The assigned problems are listed on the course outline below. NOTE: These are not homework problems and will not be collected nor graded; they are for classroom demonstration only. You will get more from the problems if you have worked them before class. Not all assigned problems will be completed in class. Solution keys to the assigned problems will be posted on Katalyst. Course materials: Required: Financial Accounting: The Impact on Decision Makers, Porter and Norton, 6th edition bundled with CengageNow, South-Western Cengage Learning, 2009. ISBN: 0324606222 Recommended: Financial Accounting: A Business Perspective, Hermanson and Edwards, 9th edition, Freeload Press, 2005. ISBN: 1-930789-73-4. This is a free e-book and can be downloaded from HYPERLINK "http://www.freeloadpress.com" www.freeloadpress.com Katalyst: Syllabus modifications, course comments, homework assignments, homework solutions, additional sample exams, exams solutions, grade information will be posted on Katalyst: HYPERLINK "http://katalyst.krannert.purdue.edu" http://katalyst.krannert.purdue.edu . There is no other web site for this class. You will need to be registered for Mgmt 200 to gain access to this site. When you reach the website you will be asked to logon and provide your password ? the site uses your purdue career account authentication. On your first visit you will need to setup an email address for communications. In order to receive any class emails you must verify a valid email address. Grading: Your performance in Mgmt 200 will be evaluated based on graded assignments and examinations as shown below: Homework assignments 70 points Cengage Now 40 points Exam 1 (Tuesday, October 7) 120 points Exam 2 (Tuesday, November 11) 120 points Final Exam (Finals week) 150 points Total points 500 The Cengage Now component will be discussed and presented separately early in the semester. The use of the text online system for student review and testing is new to me and I reserve the right to reassign these points if necessary. In the unlikely event of a major campus emergency or instructor emergency, course requirements, deadlines and grading percentages are subject to change that may be necessitated by a revised semester calendar or other circumstances. Any changes will be announced in class and/or posted on the Katalyst web page. With the introduction of the new OnePurdue system, plus and minus grades will be assigned this semester. Homework: Homework problems will be posted on Katalyst and assigned for collection on the dates listed on the course outline. There are nine homework assignments, each will be graded on a 10 point scale and the best 7 will count towards your final grade. The grade for each homework assignment will be graded using only a portion of the assignment. If you complete 75% of an assignment and the grade is based on the missing 25% you may score very poorly. If you complete 50% of an assignment and this includes the graded portion, you will still be penalized for an incomplete assignment. Homework assignments should be done individually, but you are encouraged to discuss these assignments with each other and even work on preliminary solutions together. What is not acceptable is to copy someone else?s assignment and claim it as your own work. Once the homework has been graded and the grade posted on Katalyst, you may pick up your graded assignments for review from the TA?s during their regularly scheduled office hours in KRAN 513. Exams: The content of the two mid-term examinations will be advised in class prior to the exam and on Katalyst but are scheduled for: Tuesday, October 7 8:00?10:00pm Elliott Hall of Music Tuesday, November 11 8:00?10:00pm Elliott Hall of Music Each mid-term will be 90 minutes and start as soon after 8:00pm as possible. Once all the exams have been distributed and the signal given to start you will have 90 minutes to complete the exam. Bring your student ID to all exams: We will do a 100% ID check. Seating assignments for each exam will be posted on Katalyst prior to the exam. The exams will be closed book and no notes, but you may use a calculator. Calculators may be financial or scientific calculators. Other electronic devices such as walkmans, ipods, cell phones, PDA?s are NOT permitted. If you bring review materials into the exam room (course notes, textbook, etc) to review prior to the start of the exam, these items must be secured in a back pack or otherwise secured out of view during the exam. If the review material is visible once the signal to start the exam has been given it will be assumed that you are accessing the material in violation of course standards. Examinations will test individual performance and are based on the course text and classroom material. The exams will be a mix of objective and subjective components. Students are to take exams at the scheduled times. Only in the case of a well-documented emergency or university-sponsored activity will an exam be rescheduled. You must get the instructor?s prior approval, or if this is not possible, advise the instructor as soon as possible. Ethics Statement: Ethics and values are very important in accounting and in the world of business. Ethics and values are also important in education. The instructor will assume, unless there is evidence to the contrary, that you are an ethical student. To fulfill your ethical responsibilities, the standards for this course are as follows: Examinations: All exams must be the exclusive work of the individual student. The use of unauthorized written materials, use of electronic devices other than permitted calculators, copying from another student, receiving or giving verbal or written assistance from or to another student during an exam are all examples of cheating. Students who are found to be in violation of these policies will receive a grade of zero and will be referred to the Dean of Students. The Office of the Dean of Students (ODOS) issues a number of brochures, including ?Academic Integrity: A Guide for Students?, that are available online at HYPERLINK "http://www.purdue.edu/odos/osrr/brochures.htm" http://www.purdue.edu/odos/osrr/brochures.htm Homework: Only the exams are subject to these rules, not the homework assignments. Successful accounting students usually work and study in teams. You may use any reference (books, class notes, other students, supplemental instructors, teaching assistants, the professor, the internet, etc) to help understand and complete the homework assignments successfully. However, it is not acceptable is to copy someone else?s assignment and claim it as your own work. Course outline: I will attempt to stay as close as possible to the course schedule that follows, but reserve the right to change the schedule as necessary. I may on occasion be slightly behind or ahead of the listed schedule. Major modifications will be announced in class and posted on Katalyst. Exams will be held on the dates listed. MGMT 200 ? Fall 2008 ? Course outline and assignments DATE Chapter Topic Assignments August 25 Introduction and overview August 27 1 Accounting as Communication E1-3, E1-8 August 29 1 Accounting as Communication P1-6, P1-11 September 1 Labor Day ? No Class September 3 2 Financial Statements E2-2, E2-9 September 5 2 Financial Statements Homework 1 due (TBA) P2-5, E2-4, P2-7 September 8 2 Financial Statements E2-6, P2-8 September 10 3 Processing Accounting Information P3-3 September 12 3 Processing Accounting Information Homework 2 due (TBA) E3-8, E3-14 September 15 3 Processing Accounting Information P3-12, Case 3-7 September 17 4 Accrual Accounting E4-4, E4-5 September 19 4 Accrual Accounting Homework 3 due (TBA) E4-8, E4-10 September 22 4 Accrual Accounting E4-17, P4-1 September 24 4 Accrual Accounting E4-20, P4-8 September 26 No Class Scheduled today September 29 5 Inventories E5-20, P5-10 October 1 5 Inventories E5-11, E5-12 October 3 5 Inventories Homework 4 due (TBA) P5-11, P5-13, P5-5 October 6 5 Inventories E5-16, Case 5-8 October 7 EXAM 1 8:00 ? 10:00 PM Elliott Hall of Music October 8 No class in lieu of exam October 10 6 Cash and Internal Control - October 13 October Break ? No Class October 15 6 Cash and Internal Control P6-1 October 17 7 Accounts Receivable E7-1, P7-1 MGMT 200 ? Fall 2008 ? Course outline and assignments continued DATE Chapter Topic Assignments October 20 7 Accounts Receivable P7-2, E7-3 October 22 7 Accounts Receivable P7-3 October 24 8 Property, Plant, and Equipment Homework 5 due (TBA) P8-1, P8-7 October 27 8 Property, Plant, and Equipment E8-3, E8-4 October 29 8 Property, Plant, and Equipment P8-8, P8-9 October 31 8 Property, Plant, and Equipment Homework 6 due (TBA) Case 8-6 November 3 9 Liabilities and Present value E9-1, P9-5 November 5 9 Liabilities and Present value E9-16, E9-17, E9-19 November 7 10 Bond Accounting Homework7 due (TBA) E10-2, E10-16 November 10 10 Bond Accounting P10-2, P10-3 November 11 EXAM 2 8:00 ? 10:00 PM Elliott Hall of Music November 12 No class in lieu of exam November 14 10 Bond Accounting P10-4, E10-9 November 17 10 Bond Accounting P10-5 November 19 11 Stockholders? equity E11-3, November 21 11 Stockholders? equity Homework 8 due (TBA) E11-5, E11-8 November 24 11 Stockholders? equity P11-5 November 26 Thanksgiving ? No Class November 28 Thanksgiving ? No Class December 1 12 Statement of Cash Flows P12-1 December 3 12 Statement of Cash Flows P12-6, P12-7 December 5 12 Statement of Cash Flows Homework 9 due (TBA) E12-3, E12-14 December 8 13 Financial Statement Analysis P13-5, E13-10 December 10 13 Financial Statement Analysis P13-3 December 12 Course review and catch-up TBA 1-13 FINAL EXAM Mgmt 200 Syllabus ? Greig ? Fall 2008 ? Page PAGE 8