EL CAMINO COLLEGE

Business Division

Business 2B - Financial Accounting

Spring Semester 2011

Course Information and Syllabus

Instructor: James W. Healy

Office hours: M 5:30 – 6:30 pm in classroom

Home phone: (909) 982-2163

E-mail: jwhealy@qry.com

TEXT:

Intermediate Accounting, 6th Ed.

Spiceland, Sepe, Nelson

McGraw-Hill, 2011 ISBN-13 9780077395810

The associated study guide is optional but highly recommended.

COURSE OBJECTIVE:

Business 2B is a continuation of the study of advanced financial accounting theory and practice for the corporate form of ownership. A major focus of the course is on the analysis, evaluation, and preparation of complex corporate financial statements including notes, special topics, and special reporting issues.

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.

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 8 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. Only the six higest 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 180

Quizzes 120

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 before the start of class.	HW
1	Mon	2/14	12	Investments Read chapter 12 Do Exercises 12-1, 3, 4, 5 Problems 12-1, 2, 8, 9	1
	Mon	2/21		Presidents’ Day Holiday
2	Mon	2/28	13	Current Liabilities and Contingencies Read chapter 13 Do Exercises 13-1, 5, 8, 16 Problems 13-2, 5 Prepare for quiz on Chapter 12	2
3	Mon	3/7	14	Bonds and Long Term Notes Read chapter 14 Do Exercises 14-1, 3, 20, 18 Problems 14-5, 9, 10 Prepare for quiz on Chapter 13	3
4	Mon	3/14		Mid-term Exam 1 Exam will cover Chapters 12 - 14 Be sure to bring paper, calculator, Scantron and soft lead pencil.
5	Mon	3/21	15	Leases Read chapter 15 Do Exercises 15-1, 3, 4, 5, 15 Problems 15-1, 4, 5, 6	4
6	Mon	3/28	16	Accounting for Income Taxes Read chapter 16 Do Exercises 16-1, 5, 11, 13 Problems 16-5, 7, 10 Prepare for quiz on Chapter 15	5
7	Mon	4/4	17	Pensions and Other Postretirement Benefits Read chapter 17 Do Exercises 17-1, 2, 12, 15 Problems 17-1, 8, 20 Prepare for quiz on Chapter 16	6
	Mon	4/11		Spring Recess – no class

Class	Day	Date	Chapter	Assignment to be completed before the start of class.	HW
8	Mon	4/18		Review of Chapters 15 - 17 Prepare for quiz on Chapter 17
9	Mon	4/25		Mid-term Exam 2 Exam will cover Chapters 15 - 17 Be sure to bring paper, calculator, Scantron and soft lead pencil.
10	Mon	5/2	18	Shareholders’ Equity Read chapter 18 Do Exercises 18-1, 5, 10, 19, 20 Problems 18-3, 5, 9	7
11	Mon	5/19	19	Share-Based Compensation and Earnings per Share Read chapter 19 Do Exercises 19-1, 5, 13, 27 Problems 19-8, 13, 16 Prepare for quiz on Chapter 18	8
12	Mon	5/16	20	Accounting Changes and Error Corrections Read chapter 20 Do Exercises 20-1, 4, 14, 18, Problems 20-10, 12, 14 Prepare for quiz on Chapter 19	9
13	Mon	5/23		Review of Chapters 18 – 20 Prepare for quiz on Chapter 20
	Mon	5/30		Memorial Day – no class
14	Mon	6/6		Final Exam Exam will cover Chapters 12 - 20 Be sure to bring paper, calculator, Scantron and soft lead pencil.