GBA 521 FINANCIAL
ACCOUNTING & REPORTING
SPRING 2007
This course examines basic
accounting concepts and methods and their significance to management and other
users of financial statements. Topics include an introduction to fundamental
accounting concepts; the measurement and reporting of income, financial
position and cash flows; and the measurement and reporting of assets,
liabilities, and stockholders’ equity. Ethical issues are considered throughout
this course.
The
objectives of this course are to provide an introduction to financial
accounting and the financial reporting process.
Students learn skills necessary to become informed users of financial
statements. The course focuses on the
fundamental accounting concepts and principles and on the economic events
underlying information reported in financial statements and related
disclosures.
Financial
Accounting, The Impact on Decision Makers, (4th edition) by Porter and Norton (Thomson/South-Western,
2005). ISBN 0-324-23305-1 at C.W. Post Bookstore only,
ISBN# 0-324-27266-9 for all other purchases.
Perspectives in Business Ethics (3rd edition) by Laura P. Hartman
(McGraw-Hill Irwin, 2005). ISBN 0-07-288146-1.
The
class meets once a week for 14 weeks.
Each class meets for one hour and fifty minutes. Chapter readings and
assigned homework should average between 4 to 6 hours per week.
This
course will integrate lecture, class discussion, review of assigned homework,
case solving and independent research, all of which will involve a substantial
commitment on the part of the students and the Professor. However, the process,
though challenging, should prove to be interesting and beneficial. Preparation
for class by reading the chapters and working the homework problems is
essential to fully assimilate the material.
Students should keep up-to-date with the class throughout the
semester. Participation in class
discussions and problem-solving exercises is expected.
GBA 521 FINANCIAL
ACCOUNTING & REPORTING
SPRING 2007
Where
applicable, examples or problems dealing with international accounting and
financial reporting will be addressed.
Students
are expected to come to class prepared – meaning they have read the chapter(s)
to be covered for each session and have completed all assigned homework to the
best of their ability.
Students
are asked to refrain from using cell phones and beepers during class. If you need to be accessible, set the
telephone or beeper on vibrate mode and discretely excuse yourself.
Students
will be withdrawn by the Professor for more than 2 unexcused absences.
Make-up
examinations will not be given except at the Professor's discretion for most
unusual circumstances.
Mid-Term Exam 35%
Final Exam 35%
Case Solving/Class
Participation 15%
Research Paper 15%
Total 100%
Case Solving
Case
assignments have been chosen to reinforce the learning objectives presented in the
chapters. The solved cases should be typewritten. They must be submitted by the
announced due date and prepared as a professional work product. No late
submissions will be accepted.
Class Participation
Evaluations
of class participation will be based on the instructor’s periodic assessment of
each student’s contribution to the class sessions. Students may feel that this
process results in a very subjective evaluation of one’s talents. But, when
these observations are spread over a significant period of time, reasonable
conclusions can be drawn about an individual’s abilities. Both the quality and quantity of each
student’s contributions are important.
GBA 521 FINANCIAL
ACCOUNTING & REPORTING
SPRING 2007
Term Paper
A
research paper addressing any area of financial accounting is required. Use of
the internet, as well as the resources located at the Center for Business
Research (as described below) or comparable facility is required. The topic
selected must be pre-approved by the Professor. The paper should be no less
than 8 typewritten, doubled-spaced pages (no more than 12) with appropriate
footnote disclosure. The paper is due
the last regularly scheduled class meeting before finals. The paper should be submitted as a
professional work product and will be graded based on form, grammar, content
and technical merit.
Further details about the paper will be discussed as
the semester progresses. No papers will be accepted late!
Center For Business Research (CBR)
The CBR is the business library located in B. Davis
Schwartz Memorial library. Students will find extensive online and print
sources for research assignments in all business subjects. Knowledgeable
business librarians are available seven days a week to assist you in selecting
and focusing your research topics, and retrieving the most relevant information
you need to complete assignments. Use of this resource is recommended to (1)
access unique materials not available on the Web, and (2) get expert help from
a research librarian. Visit the CBR home page at www.cwpost.liu.edu/cwis/cwp/library/cbr/cbrhome.htm
for a quick look before your visit.
Adherence to
GBA 521 FINANCIAL
ACCOUNTING & REPORTING
SPRING 2007
Calculation of Grade
The student's grade will be determined as follows:
Grade Percentage
A
90
and above (4.00)
A-
86.67-89.99 (3.67)
B+
83.33-86.66 (3.33)
B
80.00-83.32 (3.00)
B-
76.67-79.99 (2.67)
C+
73.33-76.66 (2.33)
C
70.00-73.32 (2.00)
C-
66.67-69.99 (1.67)
D 60.00-66.66 (1.00) (undergraduate only)
F
<60 (0.00)
My office is located in Lorber Hall – room 307. I am available during office hours or by
appointment. If
the posted hours are inconvenient for you, call
516-299-3279 to contact me by telephone.
My e-mail address is charles.barragato@liu.edu
My home page address is http://myweb.cwpost.liu.edu/cbarraga/
GBA 521 FINANCIAL
ACCOUNTING & REPORTING
SPRING 2007
|
Chapter |
Topic |
Homework
Assignments |
|
Intro 1 |
The Accounting Model Accounting as a Form of
Communication |
E1-6, E1-10, P1-11 |
|
2 |
Financial Statements and
the Annual Report Public Accounting – Profession or Business? p. 648-655 |
E2-9, P2-1A, P2-11A Summarize the issues in outline form |
|
3 |
Processing Accounting
Information |
E3-5, P3-6 (spreadsheet) Decision Case 3-6 |
|
4 |
Income Measurement and
Accrual Accounting |
E4-8, P4-1, P4-2 |
|
5 |
Cash and Internal Control |
E5-5, P5-5 |
|
6 |
Investments and Receivables |
E6-4, E6-8, P6-4A |
|
|
Mid-term
examination |
|
|
7 |
Inventories and Cost of
Goods Sold Appendix: FIFO Perpetual
System pp.336-337 |
E7-14, E7-23, P7-11A Decision Case 7-13 |
|
8 |
Operating Assets: Property,
Plant and Equipment, Natural Resources and Intangibles The Rise and Fall of Enron p.636-647 |
E8-8, P8-2, P8-6 Summarize the issues in outline form |
|
9 |
Current Liabilities,
Contingencies, and the Time-Value of Money |
E9-12, P9-12 |
|
10 |
Long-Term Liabilities –
including Appendix |
Q10, E10-2, P10-2A |
|
|
|
|
Note:
GBA 521 FINANCIAL
ACCOUNTING & REPORTING
SPRING 2007 C.A. BARRAGATO, Ph.D.,
CPA, CFE
|
Chapter |
Topic |
Homework
Assignments |
|
11 |
Stockholder’s Equity |
E11-3, E11-11, P11-4A |
|
12 |
The Statement of Cash Flows |
E12-10, E12-11 |
|
Other |
EPS, p.678, 795 (note 10);
Stock Options p. 796 (note 13) |
|
|
|
Final
examination |
|
Note: