Download BUS 285-003/033 - University of Regina

Business Administration 285, Winter 2017
Introduction to Financial Accounting
Section 003/033: Tuesday, 7:00 pm - 9:45 pm, ED 616
GENERAL
Instructor:
Office:
Email:
Office Hours:
Room:
Dave Roszell, B.Sc., FCPA - FCMA
ED 524.5
Through UR Courses recommended or [email protected]
Tuesday 5:15 pm to 6:45 pm and Thursday 5:15 pm to 6:30 pm
ED 616
COURSE OVERVIEW AND OBJECTIVES
BUS285 Introduction to Financial Accounting presents the fundamentals of financial
accounting theory and practice at the introductory level. It considers basic accounting
principles, their application in modern business organizations and the preparation of
business records and financial statements.
You will be introduced to the process by which financial transactions and events are
recorded, and you will learn how to compile and interpret financial statements. The course
aims to address the following questions: what is financial accounting; does accounting
matter; what are the financial statements; what is the purpose and use of the financial
statements; how are they prepared; and what are some of the elementary principles
governing their preparation?
PRE/CO REQUISITES
None.
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RESOURCES
Textbook
Kimmel et al (2014) Financial Accounting, Tools for Business Decision-Making, Sixth
Canadian Edition, John Wiley & Sons Canada, Ltd.
Supplemental Resources
The CPA Canada Handbook is accessible in electronic format through the University of
Regina Library website. Students will also find additional resources related to the topics
covered in the course on the website of the CPA Canada (http://cpacanada.ca/).
UR Courses
UR courses (http://www.uregina.ca/urcourses/) will be used to notify students of
important information, facilitate student interaction and post the course outline, solutions
to self-study problems, and additional readings/materials that may be assigned, etc.
Students are expected to utilize this resource. They should check these several times a
week and especially before class. The following materials will be available from the
course web page:
 Course outline
 PowerPoint slides from the lectures
 Solutions to in-class examples
 Self-study questions solutions
 Assignments
Calculators
Calculators that have alphabetic programmable or communication capabilities will not be
allowed during the Term and Comprehensive Final Examinations. Students are
encouraged to purchase a basic four function (addition, subtraction, multiplication and
division) calculator. Students who have plans to pursue accounting and complete the
Chartered Professional Accountant program may want to purchase the Texas Instruments
BAII Plus financial calculator recommended for that program
(https://education.ti.com/en/us/products/calculators/financial-calculators/baiiplus/features/features-summary). Students are encouraged to have the instructor verify in
advance that their calculators are acceptable for examination purposes.
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EVALUATION
Lab
Quizzes
Assignments
Midterm Examination
Final Examination
10%
15%
5%
25%
45%
Tuesday, February 28
Saturday, April 15
Note that there will be a minimum grade required on the final exam. This grade will be
announced and posted in the first class.
Labs
The labs are an integral part of the course and the students are expected to attend all labs.
During labs, there will be additional opportunities to discuss the concepts covered in class
and additional practice questions will be assigned for completion during the labs.
Please note that students must attend only the lab in which they are registered. We cannot
switch people around due to classroom size restrictions. They are required to enroll in one
of:
COURSE
BUS
285
BUS
285
BUS
285
SEC
4
5
6
TIME
1130
1245
1000
1115
1000
1115
DAY
ROOM
ED191 Tuesday
ED623 Tuesday
ED623 Thursday
Labs start the week of January 16. There are no labs on the weeks February 21-23,
February 28-March 2.
In the first lab, students will be introduced to a small business. During subsequent labs,
students will be given the opportunity to practice the concepts discussed in class by
recording transactions and completing other tasks for the small business. Students will be
required to submit their work no later than the end of each lab period. Late lab
assignments will not be accepted.
Lab assignments will be graded as follows:
Good
Satisfactory
Late/Unsatisfactory
2
1
0
An unsatisfactory grade will be given to a lab assignment for which the student does not
make a reasonable attempt to complete each part of each of the assigned questions. Please
note that students will also receive a grade of 0 should a lab assignment not be completed.
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The lowest grade earned on the lab assignments will not be included in the calculation of
the Lab portion of the final grade in BUS 285.
Quizzes
There are five quizzes during the semester. Each quiz will be posted on Friday on
URCourses. You will have 15 minutes to complete the quiz once you started. You cannot
re-start the quizzes once you begin. The lowest grade will not be counted.
Quizzes
Quiz 1-Covers
chapters 1 to 3
Quiz 2- Covers
chapters 5 & 6
Quiz 3- Covers chapter
7
Quiz 4- Covers
chapters 8 & 10
Quiz 5- Covers
chapters 9 & 11
Posted Date
Due Date
Friday, January 20
Saturday, January 21
Friday, February 10
Saturday, February 11
Friday, February 17
Saturday, February 18
Friday, March 15
Saturday, March 16
Friday, March 31
Saturday, April 1st
Assignments
During the semester, students will have one marked assignment. The assignment will be
an individual homework assignment (no collaboration with other students). It will be
posted on UR Courses. It is due at the beginning of class on the due date. Assignment
submitted for grading need to include the prescribed cover page posted on UR Courses.
There is a grade penalty for late submission; assignment not submitted on time is 20% per
day (this applies to all assignments received after the beginning of the class, no matter if it
is late for a couple of seconds or minutes).
Assignment
Assignment will be posted
on UR Courses
Posted Date
Due Date
Tuesday,
Tuesday,
January 24 January 31
Individual Evaluation
Individual 5%
assignment
Examinations
The course has one midterm and one final exam. There are two types of absences from the
examinations:
1) Authorized – the weight of the midterm exam is transferred to the final exam if you
provide supporting documentation. Refer to Section 5.7.5 of the Undergraduate
Calendar regarding supporting documentation.
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If a student is absent from the final exam, permission must be obtained from their
Faculty’s Undergraduate Office to write a deferred final exam. Policies and procedures
regarding final exams can be found in Sections 5.6 and 5.7 of the Undergraduate
Calendar. http://www.uregina.ca/gencal/ugcal/attendanceEvaluation/ugcal_61.shtml
2) Unauthorized absence from any exam or authorized absence not reported on time –
you get zero on the exam.
E-mail Address Procedure
The preferred method of email communication is through URCourses. This ensures that
the email will be seen by the instructor as it isolates course email from all the other email
traffic that happens.
If you use regular U of R email addressing, you must have a valid University of Regina email address to participate in the course. Make sure to use “BUS285” in the subject line of
all e-mails, and mention your name, student number, and section number in the body of
every e-mail you send. Messages without this information will not be replied to. E-mail
from other sources may be blocked by spam filters. As mentioned above, it is preferable
send email via UR Courses.
Notes
Note 1: It is essential that you write out a study plan that dedicates at least six hours a
week of study on BUS285 (in addition to the 3 hours of lecture). Two hours of study for
each classroom hour has been the rule of thumb forever for accounting courses to
guarantee a passing grade. “Tuition is expensive…make it count!”
Note 2: Be smart and actually learn the material. If you need assistance, it is there for you.
There are seventy-five (75) minutes a week of lab with Lab Instructor’s eager to answer
each and every question you pose. Your professor is also available during office hours or
at other times, by appointment if needed.
Note 3: No grades will be given over the phone or through e-mail. To receive your grade,
please check the appropriate University website.
Note 4: No calculators or other electronic devices can be shared during the exams.
Students will be expected to be seated in the classroom at the maximum distance from
each other during the exams unless they are doing group work. Assignments will be
returned for your review, but all exams must be turned in to the instructor after the
classroom review.
Note 5: the relative weighting of the labs questions, homework assignments, and
examinations, as outlined above, will not be adjusted under any circumstances.
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Expectations from Students
As this is a business course, a level of professionalism is expected from all students. In
addition to abiding by the regulations of the University of Regina, the following are the
expectations from students:






Please be on time for class and the lab. Similar to a business meeting or presentation,
it is unprofessional to arrive late or leave early.
Please ensure that you are prepared to actively participate in class and the lab by
reading the assigned materials and/or completing assigned questions in advance.
Please bring your textbook and calculator to every class and lab, as you will need both
to solve classroom problems.
Please do not hold conversations with classmates whenever the professor or another
student is speaking.
Please turn off all cell phones upon entering the classroom and lab so it does not ring,
and do not place them on the desks. It is not professional to accept phone calls, text
message, etc. during class and the lab.
Please do not wear head phones during the lectures. Your undivided attention in class
is important along with an atmosphere of mutual respect for all.
Services for Students
Any students needing help or want to improve their study skills and academic
performance could contact and sign up for UR Guarantee Program
(http://www.uregina.ca/urguarantee/). There is also Student Success Center that helps
students who are looking for assistance transitioning to university, tutorial support and a
variety
of
valuable
academic
success
workshops
(http://www.uregina.ca/student/ssc/academic-success/index.html).
Services for International Students:
Any international students needing assistance or support could contact the UR
International (http://www.uregina.ca/international/).
Services for Students with Disabilities:
Any student needing special accommodations due to a disability should contact the Centre
for Student Accessibility (formerly the Disability Resource Office) at 585-4631 as soon as
possible. It is the responsibility of each student to make an official request for
accommodations.
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TENTATIVE CLASS SCHEDULE
GROUPS 003 & 033
Date
Tuesday, January 10
Tuesday, January 17
Tuesday, January 24
Tuesday, January 31
Tuesday, February 7
Tuesday, February 14
Tuesday, February 21
Tuesday, February 28
Tuesday, March 7
Tuesday, March 14
Tuesday, March 21
Tuesday, March 28
Tuesday, April 4
Tuesday, April 11
Saturday, April 15
Description
Introduction to BUS 285
Chapter 1: The Purpose and Use of Financial Statements
Chapter 2: A Further Look at Financial Statements
Chapter 3: The Accounting Information System
Chapter 4: Accrual Accounting Concepts
Chapter 5: Merchandising Operations including
Appendix 5A – Periodic Inventory System
Chapter 6: Reporting and Analyzing Inventory including
Appendix 6A – Inventory Cost Determination Methods
in Periodic System
Chapter 7: Internal Controls and Cash
Winter Break
Midterm Exam (Chapters 1 to 7)
Chapter 8: Reporting and Analyzing Receivables
Chapter 8: Reporting and Analyzing Receivables (Cont.)
Chapter 10: Reporting and Analyzing Liabilities
excluding Appendix 10A – Bonds Payable
Chapter 9: Reporting and Analyzing Long-Lived Assets
excluding Other Depreciation Issues on pages 452 to 454
Chapter 11: Reporting and Analyzing Shareholders’
Equity
Chapter 13: Statement of Cash Flows excluding Indirect
Method on pages 671 to 678
Review session
Comprehensive Final Examination – 9:00 am to 12:00
pm
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