actg11_calegari_win09_part_1 - SANTA CLARA UNIVERSITY ACTG...

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SANTA CLARA UNIVERSITY ACTG 11 - Introduction to Financial Accounting Winter 2009 Date of this version: December 28, 2008 Instructor: Michael Calegari Office location: Lucas Hall 221E Office hours: TR 10-noon Office phone: 551-1694 Email: [email protected] HW manager URL : Overview of the Course Financial accounting communicates the story of a business's monetary activities for the year to the outside world. In the United States, businesses keep track of the money they earn and take in, spend, and use according to a set of rules called Generally Accepted Accounting Principles (GAAP). Keeping track of money this way allows the business to convey its activities through financial accounting statements. Managerial accounting, by contrast, focuses on the collection and assessment of information for internal decision making purposes In this course, we examine how people outside a company (investors, creditors, suppliers, etc.) use the financial accounting statements to determine if they want to invest money in, lend money to or do business with the company. While the emphasis in this course will be on understanding how to evaluate a business using the financial statements, we will also examine how to analyze the effect of business transactions on the financial statements and convey important information about a business to various types of users. The end result is to evaluate the advisability of being involved with a company by using its financial statements. Course Objectives By the end of this course, you should be able to: 1. Interpret business transactions in relation to dual entry accounting and their impact on the financial statements. 3. Understand and apply the accrual accounting model to business transactions. 2. Identify key issues in revenue and expense recognition. 4. Create financial statements from basic financial transactions. 5. Understand and use basic financial statement ratios. Disabilities To request academic accommodations for a disability, students must contact Disabilities Resources located on the second floor of Benson. Phone numbers are (408)-554-4111; TTY (408)-554-5445. Students must register and provide documentation of a disability to Disabilities Resources prior to receiving academic accommodations. Required Textbook Financial Accounting, 6th edition, by Libby, Libby & Short, published by McGraw Hill. Each chapter in the text includes (1) an outline, highlighting the organization of the chapter, (2) key learning objectives, (3) self study quizzes and (4) an excellent demonstration case at the end of each chapter to illustrate key concepts. 1
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Lectures and Assigned Readings The textbooks should be considered reference materials to clarify topics discussed in class and to provide practice problems. The class will follow the books and will make extensive use of the exercises and problems at the end of each chapter. First Day of Class
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actg11_calegari_win09_part_1 - SANTA CLARA UNIVERSITY ACTG...

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