Michael G. Booth

Finance/Accounting

Fall 17

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Financial Accounting 1A

(Homework/Assessment)

Course Overview:

Class time will be used to discuss financial accounting theory, reporting, and analysis. A practical application to real world relevant examples of corporate financial reporting/analysis will be the cornerstone of the class. Knowledge of basic accounting as presented in Acct 151A will be useful, but not necessary for the course. The critical aspect of the course is to apply the financial concepts and complete each of the course assignments, so as to be prepared for discussion/analysis during each class meeting.

Homework:

Financial Accounting (Libby, Libby, Short: 8th Edition)

All chapters in the Financial Accounting text will be part of the course content. Selected exercises and/or problems will be assigned and must be completed using Cabrillo Canvas

Measured Student Learning Outcomes (SLO)

Students should be able to:

Assessment 1


- Convey, understand and apply transaction/ratio analysis in terms of accounting model and determine impact on business

Assessment 2


- Apply transaction analysis to examine, record, update the effects of operating activities on: financial statements earnings per share, stockholders equity and cash flow

Assessment 3


- Apply revenue recognition and matching COGS principle, evaluate impact of uncollectible accounts, analyze/interpret accounts receivable turnover, and evaluate inventory management

Assessment 4


- Define, classify, analyze (ratio analysis), and report long live productive assets, asset turnover, asset impairment, asset impairment, current liabilities and longer term liabilities

Final Assessment


- Explain, analyze and describe capital structure, role/types of stock, dividends and splits
- Report, classify, analyze and interpret cash flow from: operating, investing and financing activities

 

Case Study Topics:

Note: on the Tentative schedule there are several Case Study Topics assigned from the Financial Accounting textbook or modified by the instructor. It is critical you have reviewed the material prior to the class meeting, and are prepared to add constructed dialog to the group discussions. In addition, have any necessary ratios, or analysis completed prior to class. Your analysis will be collected at the end of each class that a discussion is assigned. Be prepare to present the results of the group discussion as an individual representing the summary of the group conclusions. This is a critical part of the course, and you will need to have your completed assignment ready to turn-in on the day of the discussion/presentation.

Assessments:

Five Assessments will be given, including the Final assessment for chapters 11 & 13. Assessments will consist mostly of multiple-choice questions but may include matching, terminology, problem solving, computations, creation of statements, written analysis etc. See the Tentative schedule for assessment dates. Assessments will be separated into chapters. Assessments are linked to Student Learning Outcomes listed on course home page. No make-ups will be given for late exams. (Note: Exams will be given using SCANTRON form 882-E. If there is an exception it will be announced during class and updated on this website.)

Final Project

NOTE: A final project will be assigned. You must complete the entire project, no partial projects will be accepted. In addition, no late projects will be accepted.

Cooperative Learning Approach:


This project will be completed as a cooperative learning team. Each team member will share responsibility for the completion of the Journal, Company Analysis, Market Data, and Ratio Analysis. The Summary portion of the project will be an individual submission. Refer to the instructions below for the details of each portion of the submission. . The project is worth 180 points of the final grade for the course. See the Final Project Grading Rubric for the scoring of each section of the project.

Time requirements: Each team member should contribute to project is 1-2 hrs per week for regular team meetings and discussion. Plus each team member will have approximately 3-4 hrs required for the final summary submission. Below is the Peer Evaluation Rubric to be used for evaluating each team member. The team participation portion is worth 20 points, included in the total project points.

You will select a publicly-traded corporation from the Corporation Selection Tab of this Website. You will compare and contrast corporations in the same industry to determine their strengths and weaknesses , analyze which company is doing better. These financial results will be compared to the industry as a whole. It is important to select your company EARLY in the semester, within the first two weeks. It is best to get a hard copy of their annual report but you can usually obtain this report online via the company's homepage. Accessing the financial statements via financial sites such as Yahoo! are NOT adequate for this assignment. You may also find the annual reports using EDGAR OnLine, the SEC website. You MUST have the full annual report available. Use the most recent report available at the beginning of the semester. ?Completion of the Final Project Assessment is critical to the measure of your success in achieving the overall learning objective of interpreting and applying tools of analysis presented during the course in a real world scenario of publicly disclosed financial statements.

Measured Student Outcome:

Final Project


Apply/interpret principles of financial relationships to analyze: profitability, liquidity, solvency, and market ratios.

 

Acct 1A Corporate Selection

You will be analyzing and comparing two competing corporations this semester. Before selecting a group below, go to the corporate homepages and be certain that you can find the Annual Reports. To do this, search for the corporation or "guess" the URL. Once the homepage has been found, search for a link to Investor Relations or About the Company. Search for a link to Annual Report or Financial Statements, etc. You must find the report, NOT just the financial statements because you will need access to the Management Report, the Auditor's Report, Notes, etc. Finding the financial statements on financial sites is not adequate. Find the most recent Annual Report available and bookmark this page for future references. Often the reports are in .pdf format so you will need Adobe Reader (available free from http://www.adobe.com/downloads/ )

Once you have located the annual reports, and decided on the group you want to study this semester, you will need to sign up by the beginning of the third week of the semester. The sign-up list will be available in the class.

 

Final Project Instructions

Student Peer Evaluation Rubric

Final Project Grading Rubric

 

Tentative Schedule:

Please note: This is a summary of the tentative schedule and is subject to change during the semester. Changes will be announced, posted on this website, and written on the whiteboard at the beginning of class when the change is announced.

Assignment due dates will be provided Cabrillo Canvas/McGrawHill CONNECT, and updated on the course website.

In Libby: Financial Accounting: Ex=Exercise, Pr=Problem, M=mini exercise, CP=Cases & Projects. These are located at the end of each chapter. In addition, there may be research and/or discussion topics, and change in the weeks chapters are covered in class, changes will be updated on this website, Blackboard Learning systems and announced in class. Additional reading and review is required; Weiner, David P., Financial Accounting, As a Second Language

Please Note: A critical portion of the course work is BlackBoard Chapter Review. The BlackBoard site contains comprehensive videos, Demonstration problems, and additional practice problems with solutions. BlackBoard is a significant portion of the participation activity.


Week

Date

Topic

Assignment

1

 

Weiner (Appendix A, Basic College Skill)

Read, review and apply concepts presented. Pages 221-238


 

Libby:Chap 1 (Financial Statements)

Read Weiner: Chapter 1 pgs 1-21

Ex1-1, Ex 1-3, Ex 1-4, Ex 1-10, Pr 1-2

CP 1-1,CP 1-2 & CP 1-3

2

 

 

Libby:Chapter 2 (Investing and Financing)

M2-2, 4, 5,6,7,9

Pr 2-1 P2-3

Due and Review CP1-1,CP1-2 & CP1-3


 

Weiner: Chapter 2, pgs 24-33

 

 

3

 



Chapter 2

 

Project: Company Selection must be made

Libby:In class: exercise P2-2,


 

Complete: Chapter 2

CP2-1, CP2-2 & CP2-3

4

 

 

Libby:Intro Chapter 3 (Operating Decisions & Income Statements)

Weiner: Chapter 2, pgs 33-44

 

Libby:Ex 3-3, 4,5,8,13,14, 16

PR 3-1, 3-2

In class AP3-1

Due and Review in class CP2-1, CP2-2 & CP2-3


 

Libby:Intro Chapter 3 (Operating Decisions & Income Statements)

 

 

 

Prepare: Discussion CP3-2 & CP3-4

Prepare for Assessment Chapter 1,2 & 3

5

 

Assessment Review Chapter 1,2 & 3

Due and Review CP3-2 & CP 3-4


 

Assessment #1 (Chapters 1,2 & 3)


 

 

6

 

Libby:Chapter 4(Adjustments, Financial Statements & Quality of Earnings Weiner: Chapter 2 pgs 44-49

 

Project: Company Anaysis Due

Libby:M4-1, 4 & 8

Libby:Ex 4-6, 8, 17

Prepare CP4-1,& CP4-3

 


 

Libby:Chapter 4(Adjustments, Financial Statements & Quality of Earnings Weiner: Chapter 2 pgs 44-49

Weiner: Chapter 2, pgs 49-63

Comp P4-1

7

 

Libby:Chapter 5 (Communicating & Interpreting)

Weiner: Chapter 3 pgs 64-66

Libby:M5-1,2,3 Ex 5-2, EX5-7, P5-4, P5-6

Due and Review CP4-1, & CP4-3

 


 

Libby: Chapter 5

 

Libby:In class exercise AP5-2, AP5-3

8

 

Libby: Chapter 6 (Reporting & Interpreting Revenue, A/R, & Cash)

Weiner: Chap 3, pgs 68-84

Project: Week 5 Journal entries Due (Chap 1,2 & 3)

Prepare CP5-1, CP5-2 & CP5-3

Libby:Ex6-3, 7, 9, 11, 18,19,20 PR6-2,Pr 6-5

In class exercise AP6-4



 

 

Assessment # 2 (Chapters 4 & 5)

 

 

9

 

Complete Chapter 6

 

 

Due and Review CP5-1, CP5-2 & CP5-3

Prepare CP6-1(reqs 1, 3, 4), CP6-2 & CP6-3

 



 

Libby:Chapter 7(Reporting and Interpreting COGS)

Weiner: Chap 4 pgs 85-95

Weiner: chapter 4, pgs 95-112

Libby:Ex7-2, 3, 5, 7, 9, 10 PR 7-5 In class exercise AP7-5

 

10

 

Libby:Chapter 7 (Reporting and Interpreting COGS)

 



 

Libby Chapter 7


Libby:Chapter 8 (Property, Plant & Equipment)



Due and Review CP6-1, CP 6-2 & 3

Libby:M8-1, Ex8-1,2,4,7 & 8

Libby: Pr8-1, Pr8-3

11

 


Libby:Chapter 8 (Property, Plant & Equipment)

Weiner: Chap 5, pgs 113-116

 

Prepare CP7-1, CP7-2 & CP7-3

 

 


 

Libby:Chapter 8 (Property, Plant & Equipment)

Weiner: Chapter 5 pgs 126-138, Intangibles & review

Libby: Chapter 9 (Notes, WC, Long Term Liabilities)

Weiner: Chapter 6 pgs 139-147

Project Journal Chapter 4 & 5 Due

Due : CP 7-1, CP7-2 &

CP 7-3

 

 

 

12

 

Assessment Chap 6,7 & 8

 

Prepare CP8-1, CP8-2, & CP8-3

 


 

Libby: Chapter 9 (Notes, WC, Long Term Liabilities)

Weiner: Chapter 6 pgs 139-147

Libby:M9-4, & 5, Ex9-7, Pr9-2

Libby:M9-7 & 8, Pr9-11 In class exercise AP9-6


13

 

Libby: Chapter 9 (Notes, WC, Long Term Liabilities)

 

Libby:Chapter 10 (Reporting and Interpreting Bonds)

Weiner: Appendix B, pgs 239-261

Project: Journal Review Due (Chap 6 & 7)

Due: CP8-1, CP8-2, & CP8-3

CP9-1, CP9-2 & CP9-3(Use as outline for Final Project)

Libby:M10-1,2,3,4, 5 Ex10-11

Pr10-2 & 3


 

Libby:Chapter 10 (Reporting and Interpreting Bonds)

Weiner: Chap 6, pgs 148-159

In class exercise AP10-2

14

 

Libby:Chapter 10 (Reporting and Interpreting Bonds)

 

Libby & Weiner: Review for Assessment #4 (Chapters 8,9 & 10)


 

Chapter 9 & 10 Assessment

 

 

15

 

Libby:Chapter 11 (Owner's Equity)

Weiner: Chap 7, pgs 160-176

Libby:Chapter 13 (Analyzing Financial Statements)

Weiner: Chap 9, pgs 205-219

 

 

 

Libby:Ex11-4,5,9,11,13,14,18

Libby:Pr11-5

In class exercise AP11-3

CP11-1, CP11-2 & CP11-3 (Use As Outline for Final Project)

 

Libby:Ex13-5,6,7, 11, 13

Pr 13-6, Pr 13-7

 

 



 

Libby:Chapter 11 (Owner's Equity)

Weiner: Chap 7, pgs 160-176

Optional:

Libby:Chapter 12 (Statement of Cash Flow, exclude Direct Method)

Weiner: Chap 8, cash flow, pgs 178-181

Weiner: Chapter 8, cash flow, pgs 182 -203

 

 

 

Libby & Weiner:In Class exercise on Prep of Cash Flow statement.

Libby:Ex12-4,7,9,14 Pr 12-1

AP 13-1 In Class Exercise

16

 

Final (Chapter 11, & 13 only) Note: See Calendar Tab for Final Schedule

Final Project is Due with Individual Summary Report outs. (Includes Journals for Chapters 1 - 11, with ratios from Chapter 13)

 

 





 


 

Instructor Welcome

Instructor Contact

Accounting 151A

Accounting 151A (Homework/Assessment)

Accounting 151A (Grading)

Accounting 1A

Accounting 1A (Homework/Assessment)

Accounting 1A (Grading)

Accounting 1A Corporations Final Project

Accounting 1B

Accounting 1B (Homework/Assessment)

Accounting 1B (Grading)

Calendar

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