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JOHN CABOT UNIVERSITY

COURSE CODE: "FIN 201-2"
COURSE NAME: "Financial Accounting"
SEMESTER & YEAR: Spring 2016
SYLLABUS

INSTRUCTOR: Flavio Notari
EMAIL: [email protected]
 HOURS: MW 11:30AM 12:45AM
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES:
OFFICE HOURS: by appointment MW 10 - 11 am
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 focuses initially on how to record economic events in the accounting records (i.e., bookkeeping and accrual accounting) and how to prepare and interpret the primary financial statements that summarize a firm's economic transactions (i.e., the balance sheet, the income statement, and the statement of cash flows).

In the process, you will develop an understanding of (i) basic accounting concepts and terms; (ii) the Financial statements (balance sheet, income statement, and the statement of cash flows) that firms use to describe their business; (iii) the approach used to construct the major elements of the Financial statements; and (iv) some ratios that capture key aspects of the firm’s performance.

This will begin to help you make sense of a company’s financial statements and start to use them to analyze a company’s performance.
LEARNING OUTCOMES:

The objective of this course is not to train you to become an accountant but rather to help you develop into an informed user of financial statements. While users of financial statements face a wide variety of decisions, they are often interested in understanding the implications of the information for the future cash flows and earnings potential of a firm. The course will focus on understanding the mapping between underlying economic events and financial statements, and on understanding how this mapping affects inferences about future profitability.

If you complete the course successfully you will be able to: (i) discuss the core concepts of financial accounting including how accountants analyze and record the effects of individual transactions; (ii) understand the fundamental components of financial reports, including assets, liabilities, owners’ equity, revenues, expenses and cash flows; (iii) interpret annual report information and analyze a company’s performance using this information; and (iv) use the language of business in a professional setting.
TEXTBOOK:
Book TitleAuthorPublisherISBN numberLibrary Call NumberCommentsFormatLocal BookstoreOnline Purchase
Horngren's Financial & Managerial Accounting, The Financial Chapters, Global Edition, 5/ETracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae MatsumuraPrentice HallISBN-10: 1292117109 ISBN-13: 9781292117102     
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
NONE
GRADING POLICY
-ASSESSMENT METHODS:
AssignmentGuidelinesWeight
Mini - testDuring the semester students will have six surprise quizzes (15 minutes) delivered in class on material covered in class in order to test their knowledge and participation. Two of the lowest scores will be dropped. No makeup mini-tests will be given. A missed mini-test will be calculated as zero. 15
Mid-term written testThe Mid-Term Exam will take place half way through the course and it will concern all the topics covered up to that point. No makeup exams will be given. A missed exam will be calculated as zero. 35
Final written testThe Final Exam is comprehensive, thus it will test students on all the topics presented during the course. No makeup exams will be given. A missed exam will be calculated as zero. Exceptions are made if the student presents an official excuse for the absence from the Dean’s Office.50
 Rules for mini-tests and exams: no mobile phones or computers allowed. Calculators are strongly recommended for your personal use and they cannot be shared during the exam. 

-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 at lectures and participation in class discussion is strongly encouraged.

Policies:

1. The final exam is comprehensive so students who miss four classes or less (excused or unexcused) will have the option of dropping their midterm grade and moving the weight to the comprehensive final exam. Students who arrive after the roll-call will be counted as absent.

2. Students who miss the midterm exam (with a formal excuse from the Dean's Office) will shift the weight to the final exam; you will be given the midterm to take on your own time under exam conditions and I will assess it so that you can check on the progress of your studies. No make-up exams will be given.
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

MAIN TOPICS COVERED IN THE COURSE SCHEDULE

  • Introduction to financial accounting
  • Overview of the different financial accounting systems
  • Introduction to Financial Statements: Balance Sheet, Income Statement and Statement of Cash Flows
  • Accounting principles and procedures
  • The accounting process: from Double Entry Accounting System to the Financial Statement document
  • Analysis of the items:

(i)      Financial Assets
(ii)    Inventories
(iii)   Tangible Assets
(iv)  Intangible Assets
(v)    Liabilities
(vi)  Shareholders’ Equity
(vii) Revenues and expenses

  • Financial Statement Analysis (main profitability indicators)