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JOHN CABOT UNIVERSITY

COURSE CODE: "FIN 201"
COURSE NAME: "Financial Accounting"
SEMESTER & YEAR: Summer Session I 2019
SYLLABUS

INSTRUCTOR: Soha Ghallab
EMAIL: [email protected]
 HOURS: MTWTH 9:00-10:50 AM
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES:
OFFICE HOURS: 11:00 AM-11:30AM (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:

The course begins with understanding economic transactions and the bookkeeping role of accounting. This is followed by a study of accrual-basis accounting. We then focus on specific elements of assets, liabilities and equity before building the primary financial statements. The latter part of the course introduces time-value-of-money concepts, the statement of cash flows, and basic financial statement analysis.

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 behavior.
TEXTBOOK:
Book TitleAuthorPublisherISBN numberLibrary Call NumberCommentsFormatLocal BookstoreOnline Purchase
Financial and Managerial Accounting (18th Edition)Williams, Haka, Bettner and CarcelloMcGraw-Hill9781259692406     
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
NONE
GRADING POLICY
-ASSESSMENT METHODS:
AssignmentGuidelinesWeight
Exam #1Combination of problems, short-answer and multiple-choice questions. Topics include: recording economic transactions, accrual accounting, and basic financial statements.25%
Exam #2Combination of problems, short-answer and multiple-choice questions. Topics include cash, securities, receivables, inventory and long-term assets.30%
Final ExamCombination of problems, short-answer and multiple-choice questions. Topics include long-term liabilities, time-value-of-money concepts, stockholders’ equity, statement of cash flows and financial statement analysis.30%
HomeworkHomework includes problem sets from the text or handouts and is graded based on effort and accuracy.10%
Participation and attendanceStudents are expected to attend class, attempt the suggested problems, and contribute to the day's discussion in a meaningful way.5%

-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:
ATTENDANCE REQUIREMENTS AND EXAMINATION POLICY



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 final exam date is 6/28/2019.
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

 

        

Week 1:

May 27 - Chapter 1, Accounting information and decision making

May 28 - Chapter 2, Basic financial statements

May 29 - Chapter 3, The accounting cycle: capturing economics events

May 30 - Chapter 4, The accounting cycle: accruals and deferrals

 

Week 2:

June 3 - Chapter 4, continued

June 4 - EXAM #1 (Chapters 1-4)

June 5 - Chapter 5, Reporting financial results

June 6 - Chapter 7, Financial assets

 

Week 3:

June 10 - Chapter 8, Inventories and cost of goods sold

June 11 - Chapter 9, Plant and intangible assets

June 12- Chapter 9, continued

June 13 - EXAM #2 (Chapters 5,7,8, and 9)

       

Week 4:

June 17 - Chapter 10, Liabilities

June 18 -  Chapter 10, continued

June 19 - Chapter 13, Statement of Cash Flows

June 20 - Chapter 13, continued

       

 Week 5:

June 24 - Chapter 11, Stockholders' equity (including "cash dividends" from chapter 12)

June 25 -  Chapter 14, Financial statement analysis

June 26- Chapter 14, continued

June 27- Review

June 28 - FINAL EXAM (Chapters 10-14)