OF UNIVERSITY WASHINGTON BUSINESS SCHOOL Accounting 302 Spring 2004 Professor: Elizabeth J. Widdison, CPA Time & Room: Office: Mackenzie 240 Section A: TTH 12 noon 1:20, Balmer 306 Office Phone: [phone] Office Hours: To Be Announced. E-mail address: [e-mail] Website: faculty.washington.edu/widdison Required Text: Intermediate Accounting, Kieso, Weygandt, and Warfield, 11th edition (KWW). Other material: Solution Manual for KWW; FASB Financial Accounting Reporting System (FARS) CD and/or FASB Accounting Standards, Original Pronouncements. Course Objectives: This course is the second of a three-course series on financial accounting designed for students majoring in accounting. The course takes an in-depth look at a number of important financial reporting topics including long-term debt, investments, long-lived assets and leases. While the course is designed for students majoring in accounting this is not a course in bookkeeping. We will spend a fair amount of time "crunching numbers" but always with the understanding that the purpose of accounting is to communicate the underlying economic events of an entity to a number of external constituents. In other words, accounting (i.e. financial reporting) does not occur in a vacuum and it is important to understand the "why" behind managers' financial reporting choices. Thus, time will be spent understanding how to apply various accounting policies as well as examining "real world" examples and cases that focus on how readers of financial statements interpret the information produced by the financial reporting system. Course Organization: The majority of classes will be conducted in a lecture/discussion format. Lecture notes are available on the course Web site or at the Balmer Copy Center. The lectures are designed to highlight the important issues discussed in the chapters and clarify problem areas. The readings from the chapters should be done before the class date to which it is assigned. You should also attempt the homework problems before class. You may not be able to complete them perfectly, but a solid attempt will test your understanding of the material you have just read. After the related lecture, you should have the knowledge necessary to perform the homework problems. The homework problems will not be discussed in class, nor will they be collected or graded. It is your personal responsibility to do the reading and homework on a regular basis. Preparing the homework assignments on a consistent basis is the best way to learn the material. It is important that you work through the problems without relying on the solutions use the solutions for self-correction only. To provide some incentive to keep up with the material, a short quiz will be given approximately every week covering the material from the prior week (see below for schedule and details). Calculators are permitted for all quizzes/exams. You are highly encouraged to invest in a good business calculator (one that performs present value functions) and to bring it to every class.
There will be two classes in which we will depart from the traditional lecture/discussion format and instead conduct the class using a case method format. The case method format is HIGHLY interactive and will require significant preparation before hand to ensure that you are able to contribute to the class discussion. Cold calling will be used extensively (and, as discussed below, participation is graded). The assigned cases are based on
real companies, contain details about the company and industry, and often use business terminology
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with which you may not be familiar. You are encouraged to become familiar with the industry/jargon as time permits, but do not become bogged down in the details. Focus on the larger issues in the case. Grading: Your performance in this class will be assessed as follows: Quizzes Midterm Examination Final Examination Cases Writing Assignment Professionalism Total Points 40 120 140 20 40 40 400 % of course grade 10% 30% 35% 5% 10% 10% 100%
Grades will be assigned based on your relative performance in the class with one exception. Regardless of your intellectual ability, anyone who puts in a sufficient amount of effort should be able to receive at least 30% of the points. Therefore, anyone falling below 30% will receive a zero for the course. If you are having difficulty in the course, it is your responsibility to see me early in the course (not the day before the final!). Quizzes: There will be six short quizzes (approximately every week). All material covered between the time of the last quiz and the current quiz is fair game. Absolutely NO MAKE-UP QUIZZES will be given. However, only the highest 4 quiz scores will count toward your quiz grade. Midterm and Final Examination: The date of the midterm and final are shown on the course schedule. As with quizzes, NO MAKE-UP EXAMS will be given. If you have a personal emergency such as a death in the family or a major illness, please see me with the appropriate documentation and we can discuss alternatives. If you do not have a legitimate reason for missing an exam (or the appropriate documentation), you will receive a zero on the missed exam. Cases: Written responses to the case questions will be collected at the beginning of the class on we which discuss the case. Make a copy before class so you will have your responses to look at during the class discussion. You are encouraged to work in groups to discuss the case questions but each student should prepare his/her own answers to the questions (i.e., no copies of group responses). Writing Assignment: A writing assignment will be distributed later in the quarter. The writing assignment is an individual project and will be due on February 19th. Professionalism: This consists of presenting yourself and your work ethically and in a manner consistent with respect for the subject, your class colleagues, yourself, and the instructor. It includes active class participation in topic discussions (see below), cooperation, responsiveness to questions posed by the instructor, timeliness, and regular attendance. In the event you are not able to attend class, I request that you provide me with advance notification via email. Participation: There is no question that students learn (and more importantly retain) more when they are actively involved in the learning process. Thus, you will be expected to bear a large part of the responsibility for their own learning. This responsibility comes in many forms one of which is actively participating in the class discussion, particularly on case discussion days. Your active involvement in the class benefits not only yourself but also your fellow students. Effective participation can come in many forms, including providing analysis, asking questions, relating
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concepts to other issues, and providing real-world examples. In evaluating your professionalism, consideration will be given not only to the quantity but also the quality of your participation Speaking in front of a large group is a challenge for some students. However, the ability to clearly articulate arguments, raise pertinent questions, and debate issues are important skills for any business manager; thus, you are encouraged to practice these skills in the classroom. You may find participation easier if you follow some or all of the following suggestions: Look over the lecture notes in advance so you can prepare your thoughts/comments/questions. Read the relevant news articles which are posted to the Web site and think of some relevant questions or points you would like to discuss. If you are feeling particularly well-prepared for a particular class, e-mail me in advance and I will be sure to call on you during class.
An additional way in which you can show participation could be by sharing a relevant article that you come across in your outside, professional reading. You could email the article to me, and I will share it with the class. Instructor Responsibilities: To present course content in an understanding manner. To be accessible to students as indicated in the syllabus to assist learning as and when needed. To adhere to all policies indicated in this syllabus and to apply them fairly.
Other: - See University of Washington policies and procedures for any matter not covered in the above summary. In particular, please refer to http://depts.washington.edu/grading/issue1/honesty.htm for specific guidance on what constitutes inapp...