JCU Logo

JOHN CABOT UNIVERSITY

COURSE CODE: "FIN 201-2"
COURSE NAME: "Financial Accounting"
SEMESTER & YEAR: Fall 2018
SYLLABUS

INSTRUCTOR: Mauro Valenti
EMAIL: [email protected]
HOURS: MW 6:00-7:15 PM
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES:
OFFICE HOURS: MW 7:15 -7:45 PM (by appointment)

COURSE DESCRIPTION:
This course is an introduction to basic accounting methods and concepts; preparation of principal financial statements; application of accounting principles to the main asset, liability, and owners’ equity accounts.
SUMMARY OF COURSE CONTENT:

This course introduces to Accounting as a system for measuring, processing and communicating financial information. The course focuses on the roles, skills and duties of the Accountants in the business organization with particular attention to ethics and professional conduct issues.
Where appropriate, business cases will be analysed from an accounting point of view in order to identify critical factors and to support business decisions. They are intended to help the student to gain sufficient understanding of the matters by applying accounting rules to specific cases.
The main subjects covered by the course are : Basic structure of Accounting. Recording and reporting business transactions. Bookkeeping procedures. Merchandising and the accounting cycle. The internal control. Managing cash. Accounts and notes receivables. Accounts and notes payables. Accounting for merchandise Inventory and for plant assets. Introduction to payroll accounting. The statement of cash flows.
Conceptual background will be provided by illustrating and discussing assigned chapters of the text book, which the student is expected to have studied prior to class discussion.

LEARNING OUTCOMES:

The class will cover the basic principles of accounting and introduce applications of these principles in the context of business decisions.
Students who complete the course successfully should be able to:
1. Identify business transactions from an accounting point of view.
2. Apply correct bookkeeping procedures for main business transactions.
3. Produce key financial reports (Income statement, balance sheet, statement of owner’s equity, statement of cash flows).
4. Exercise judgement and make appropriate accounting decisions.
5. Recognize and apply ethical behaviour. 

TEXTBOOK:
Book TitleAuthorPublisherISBN numberLibrary Call NumberComments
Financial and Managerial Accounting (17th International Edition)Jan R. Williams, Susan F. Haka, Mark S. Bettner, Joseph V. CarcelloMc Graw Hill - Education EuropeISBN10 1259255832 ISBN 13 9781259255830  
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
NONE
GRADING POLICY
-ASSESSMENT METHODS:
AssignmentGuidelinesWeight
Class ParticipationThe class participation grade will reflect your preparation, attendance and quality and frequency of participation. Class preparation will require the students to read the assigned material in advance. This part of the grade is subjective and is assigned at the end of the course. The grade for class participation depends on the quality of students’ contributions to class discussion and general level of preparedness. Evaluation will consider whether the student has read the material, has followed the discussion and has devoted his attention to the course. A student who is having difficulty with the material will not automatically receive a low grade for class participation; however, if that student fails to seek assistance or demonstrate lack of effort, this part of the grade may be adversely affected. 10%
Written AssignmentsWritten assignments are designed to prepare students for the mid-term and the final examinations. Students should be prepared to do a significant amount of work, but they should also realize that the time invested in written assignments will have a direct impact on the results achieved in their exams. Written work should be typed and professionally presented. The name of the student, the class and the date should be clearly indicated at the top. Quantitative responses should clearly indicate (a) what is the task at hand (e.g. find the break even sales volume), (b) the formula or methodological approach used, (c) calculations, and (d) the answer to the question. Qualitative responses should be factual, well organised and clearly expressed in grammatical English. All assignments should be completed and handed in to the professor no later than the beginning of the specific class meeting. Papers received after this deadline will not be accepted, and consequently will be recorded as ZERO, unless prior arrangements are made with the professor. 20%
Mid Term ExaminationThe mid-term examination will take place half way through the course and will test students on the material covered up to that point. The midterm exam will consist of problems that require quantitative analysis as well as essay-type questions, in which the student is asked to discuss qualitative issues of a particular topic covered by the syllabus. Problems and questions will be similar to those discussed in class or assigned as homework. Each exam question or problem will indicate the points allocated to that questions. Partial credit will be awarded where appropriate. At the end of the course, the grade corresponding to the mid-term examination (30% of the overall grade) will be computed as the higher of the mid-term or the final exam grade. 30%
Final ExaminationThe final examination is comprehensive and will test students on all the topics covered throughout the course. The final exam will consist of problems that require quantitative analysis as well as essay-type questions, in which the student is asked to discuss qualitative issues of a particular topic covered by the syllabus. Problems and questions will be similar to those discussed in class or assigned as homework. Each exam question or problem will indicate the points allocated to that questions. Partial credit will be awarded where appropriate. At the end of the course, the grade corresponding to the mid-term examination (30% of the overall grade) will be computed as the higher of the mid-term or the final exam grade. 40%
   

-ASSESSMENT CRITERIA:
AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality.There is clear evidence of a significant amount of reading beyond that required for the course
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.

-ATTENDANCE REQUIREMENTS:

Students are expected to come to class prepared for the day's material. It is highly recommended that you attend all classes given that the material is comprehensive by nature and the course tends to move at a fast pace. Attendance will be considered in your participation grade. 
  
You cannot make-up a major exam (midterm or final) without the permission of the Dean’s Office. The Dean’s Office will grant such permission only when the absence was caused by a serious impediment, such as a documented illness, hospitalization or death in the immediate family (in which you must attend the funeral) or other situations of similar gravity. Absences due to other meaningful conflicts, such as job interviews, family celebrations, travel difficulties, student misunderstandings or personal convenience, will not be excused. Students who will be absent from a major exam must notify the Dean’s Office prior to that exam. Absences from class due to the observance of a religious holiday will normally be excused. Individual students who will have to miss class to observe a religious holiday should notify the instructor by the end of the Add/Drop period to make prior arrangements for making up any work that will be missed.

The University’s attendance policy is described in the catalogue.  Persistent absence or tardiness usually precludes satisfactory performance in the course, and jeopardizes that part of the grade that is based on class presentation and participation.  Students are expected to arrive to class on time; students are responsible for all material covered by the syllabus and/or discussed in class, whether or not they are actually present in class.

“MY JCU” Page
All written communications, announcements, special assignments, and the like will be posted on or sent through the university’s Intranet. Students are required to check their MyJCU page frequently so as not to miss any important items. Ignorance shall not constitute justification.
ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic dishonesty will receive a failing grade on the work in which the dishonesty occurred. In addition, acts of academic dishonesty, irrespective of the weight of the assignment, may result in the student receiving a failing grade in the course. Instances of academic dishonesty will be reported to the Dean of Academic Affairs. A student who is reported twice for academic dishonesty is subject to summary dismissal from the University. In such a case, the Academic Council will then make a recommendation to the President, who will make the final decision.
STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap. Students with approved accommodations must inform their professors at the beginning of the term. Please see the website for the complete policy.

SCHEDULE

SessionSession FocusReading AssignmentOther AssignmentMeeting Place/Exam Dates
September 3Accounting and the Business Environment   
September 5Accounting and the Business Envinronment   
September 10Recording Business Transactions   
September 12Recording Business Transactions   
September 17The Adjusting Process   
September 19The Adjusting Process   
September 24The Adjusting Process   
September 26The Adjusting Process   
October 1Completing the Accounting Cycle   
October 3Completing the Accounting Cycle   
October 8Merchandising Operations   
October 10Merchandising Operations   
October 15Prepare for Mid Term   
October 17MID TERM EXAM  October 17
October 22Merchandise Inventory   
October 24Merchandise Inventory   
October 29Internal Control and Cash   
October 31Internal Control and Cash   
November 5Receivables   
November 7Receivable   
November 12Plant, Assets and Intangibles   
November 14Plant, Assets and Intangibles   
November 19Current Liabilities and Payroll   
November 21Current Liabilities and Payroll   
November 26The Statement of Cash Flows   
November 28The Statement of Cash Flows   
December 3Review for the Final   
December 5Review for the Final   
 Comprehensive FINAL EXAMINATION All Chapters