EL CAMINO COLLEGE

Business Division

 

Business 2A - Financial Accounting

Fall Semester 2008

Course Information and Syllabus

 

 

 

 

Instructor:                James W. Healy                          

Office:                                                                     

Campus phone:                                                         

Home phone:         (909) 982-2163                          

E-mail:                   jwhealy@qry.com

Office Hours:                   Held in Musi 203 from 5:30 pm to 6:30 pm

 

TEXT:             

Intermediate Accounting, 5th Ed.

Spiceland, Sepe, Nelson, Tomassini

McGraw-Hill, 2009  ISBN-13 9780077282073

 

                   The associated study guide is optional but highly recommended.

 

COURSE OBJECTIVE:

Business 2A is the first of two intermediate accounting courses. Upon completion of this course, students will be expected to demonstrate an understand­ing of financial accounting theory, basic financial statements, the accounting cycle and the valuation of assets. Because good communication in business is so critical, students will further be expected to demonstrate proficiency in both oral and written presentations of analyses they have made.

 

 

HOMEWORK:

It is not possible to develop a proficiency in any accounting discipline without substantial practice. Therefore, written homework is mandatory. You are expected to come to class having completed all assigned reading homework and prepared to discuss the material covered in the chapter assigned.

 

Please be sure to include your name, the assignment, and the date in the upper right-hand corner of the top sheet of the assignment. Staple all pages together. Be sure to submit each assignment as a separate package so that you receive credit for each submission.

 

Assigned problems will be started in class and you will be expected to finish them at home before the next class. A homework grade will be given for each assignment based on the following:

 

                             Substantially complete and on time           20 pts

                             Substantially complete and one week late   14 pts

                             Mostly complete and on time                               8 pts

                             Mostly complete and one week late             2 pt

                             All other                                                 0

 

"Substantially complete" means all assigned problems attempted.

"Mostly complete" means more than half the assigned problems attempted.

 

In the business world good analysis, poorly presented is often dismissed. Therefore, sloppy, illegible homework will not be accepted regardless of degree of completion.

 

 

CLASS PARTICIPATION:

You are expected to attend class and actively participate in discussion of the readings and written problems. There is no penalty for incorrect answers in class and there are no "dumb questions". Because both written and oral communication are so critically important in the business world, students will be randomly called on to lead discussion of a topic or to present solutions to homework problems. You will find that you learn more, that the classes more interesting, and that the time goes by faster if you are an active participant. You will also be far more prepared to face the business world if you are comfortable in group discussions.

 

 

GROUP STUDY:

Although no group projects will be required, you are strongly encouraged to form study groups to assist each other with the assigned homework and to discuss the issues being covered in class.

 

 

EXAMINATIONS:

You will be given 7 brief (15 min.) quizzes that will be loosely based on the homework assignments. The quiz may take any form (e.g. multiple-choice, essay, etc.). Quizzes are worth 20 points each. The five highest quiz grades will be counted. No make-up quizzes will be given.

 

The mid-term and final examinations may consist of problems, essays or multiple-choice questions. No make-up examinations will be given unless prior arrangements have been made.

 

 

 

GRADING:                                                                 Maximum Points

                   Homework                                              200

                   Quizzes                                                   100

                   Mid-term Examination 1                            200

                   Mid-term Examination 2                            200

                   Final Examination                                     300

                             Total                                          1,000

 

          Final course grades will be based on the “natural breaks” in the class point distribution.

 

 

OTHER INFORMATION:

 

School policy will be strictly followed with regard to adds and withdrawals.

 

If you are having difficulty with any of the subject matter please see me, call me or send me an

e-mail. My home phone and e-mail address are on the first page. Feel free to call. If I am not in, leave your name and phone number on my answering machine and I will return your call.

 

Email is an even better way to communicate because you can ask the question when it occurs to you and I can reply as soon as I am available and you will have your answer in writing for future reference.

Class

Day

Date

Chapter

Assignment – to be completed prior to class

 

HW

1

 M

8/25

 

Intro­duction to course

Review Bus 1 A

 

 

 

M

9/1

 

Labor Day - no class

 

 

2

M

9/8

1 & 2

Financial Accounting Theory and The Accounting Cycle

Read Chapters 1 and 2

Do Exercises 1-1, 7, 10, 12, 2-4, 11, 15,

     Problem 2-10 (you may skip #1, T accts)

 

1

3

M

9/15

3

The Balance Sheet

Read Chapter 3

Do Exercises 3-3, 5, 13, 15, Problem 3-10

Prepare for quiz on Chapters 1 & 2

 

2

4

M

9/22

4

The Income Statement and Statement of Cash Flows

Read Chapter 4

Do Exercises 4-2, 8, 10, 11, 14, 15, Problem 4-5

Prepare for quiz on Chapter 3

 

3

5

M

9/29

Exam

Mid-term Exam 1

Be sure to bring paper, calculator, Scantron and soft lead pencil.

Exam will last 90 min.

 

 

6

M

10/6

5

Income Measurement and Profitability Analysis

Read Chapter 5

Do Exercises 5-4, 10, 11, 15, Problems 5-5, 6, 7, 10

 

4

7

M

10/13

6
Time Value of Money Concepts

Read Chapter 6

Do Exercises 6-1, 2, 3, 4, 5, 6, Problems 6-1, 2

Prepare for quiz on Chapter 5

 
5

8

M

10/20

7

Cash and Receivables

Read Chapter 7 

Do Exercises 7-1, 3, 9,12,19, Problems 7-3, 6, 8

Prepare for quiz on Chapter 6

 

6

9

M

10/27

8

Inventories: Measurement

Read Chapter 8

Do Exercises 8-5, 6, 7, 9,12, 13, Problems 8-4, 13

 

7

10

M

11/3

Exam

Mid-term Exam 2

Bring paper, calculator, Scantron and soft lead pencil.

Exam will last 90 min.

 

 

 

 

 

Class

Day

Date

Chapter

Assignment - to be completed prior to class

 

HW

 

M

11/10

 

Veterans’ Day – no class

 

 

11

M

11/17

9

Inventories: Additional Issues

Read Chapter 9

Do Exercises 9-1, 7, 10, 11, 21

Prepare for quiz on Chapter 8

 

8

12

M

11/24

10
Operational Assets: Acquisition and Disposition

Do Exercises 10-1, 4, 6, 8, 9, 17, 21, 25

Prepare for quiz on Chapter 9

 
9

13

M

12/1

11
Operational Assets: Utilization and Impairment

Do Exercises 11-1, 3, 7, 8, 11 14, 19, 22

Prepare for quiz on Chapter 10

 
10

14

M

12/8

Final Exam

6:30 – 9:30 pm. Comprehensive Final Exam

Bring paper, calculator, Scantron and soft lead pencil.