MANAGEMENT 1B – PRINCIPLES OF ACCOUNTING
Winter 2024 – 4 Units
Course Syllabus
Pre-requisites
MGMT 1A
Course Description
This course continues the introduction of financial accounting principles, including financial statement preparation and analysis. The course also covers accounting for liabilities, equity, revenue and expenses. Topics covered include:
. Stockholders’ Equity
. Long-term Liabilities
. Bonds
. Statement of Cash Flows
. Financial Statement Analysis
. Managerial Accounting
. Standard Costing
. Budgeting
Accounting is a learn-by-doing subject. Decide today that you are willing and able to commit the time and resources it will take to succeed in this class. Reading and homework must be completed on a timely basis. Do not fall behind.
Course Objectives
To introduce students to accounting theory and procedures, including preparing and using the basic financial statements; to obtain a basic understanding of accounting terminology and bookkeeping mechanics; to understand the accounting cycle from transactions to financial statements; and to provide an introduction to careers in accounting, finance, and consulting. In this course you will:
. Develop an introductory understanding of generally accepted accounting principles (GAAP)
. Apply generally accepted accounting principles to real-world scenarios
. Appropriately use computers and technology to complete accounting related tasks
. Develop effective interpersonal communication skills (electronic, written and oral)
. Develop a sense of curiosity
. Develop analytical, critical and strategic thinking skills
Course Materials
Required Text:
. Financial & Managerial Accounting, Ninth Edition by Wild, et al, published by McGraw Hill
o Do not use an old edition. Accounting standards change frequently.
o Page and problem numbers change between editions and may not align to assigned homework.
This course is part of the UCLA Inclusive Access program. Your course materials are being automatically provided to you, digitally, through the course website upon enrollment. The materials are being provided at a reduced price. You will receive an e-mail from the UCLA Store directly to your email address on file with the UCLA Registrar with program and cost details. It is your responsibility to read all communication coming from the bookstore. (Check your spam folder if not received.)
Everyone enrolled in this course is automatically a participant to start and will have access to the materials through 2nd week of class. Those remaining in the program after 2nd week will be billed for the materials directly to their BruinBill account and will continue to have access to the course materials. If you do not wish to participate in Inclusive Access, you must opt-out by the Friday of 2nd week opt-out deadline or you will be billed. Those who opt-out will lose access to the digital materials starting week 3 and will be responsible for getting the materials on your own.
Do not pay for your materials through the publisher website, unless you are opting out of Inclusive Access. If the link provided requires an access code, it will be delivered to you in your welcome e-mail from the bookstore. All Inclusive Access course materials will be billed to your BruinBill account.
Any questions regarding the Inclusive Access program can be directed to [email protected].
Lecture Notes:
. Fill-in-the blank style lecture notes are available to you on the course website, organized by Chapter.
Evaluation and Grading
Required Assignments and Weighted Percentages
This course will be graded using the following weighted percentages for each of the assignments in the course. Feedback and grades are typically posted within one week of assignment due dates.
Assignments % of Grade
|
Midterm #1 |
25% |
|
Midterm #2 |
25% |
|
Midterm #3 |
25% |
|
Cash Flow Assignment |
25% |
Grades
Course grades will be awarded in accordance with the following scale:
Letter Grade # of Points
|
A + |
100 |
|
A |
92 – 99 |
|
A - |
90 – 91 |
|
B + |
88 – 89 |
|
B |
82 – 87 |
|
B - |
80 – 81 |
|
C + |
78 – 79 |
|
C |
72 – 77 |
|
C - |
70 – 71 |
|
D |
60 – 69 |
|
F |
< 60 |
Class Attendance and Homework
. You are responsible for completing the assigned reading before attending the related lecture.
. Assigned homework is intended to be completed after the related lecture and is the best way to reinforce concepts introduced in class and prepare for the midterms. Homework will not be
collected, but midterm questions will be very similar to homework questions.
. Email, recorded lectures and office hours are not to be used as a replacement for attending class.
Homework suggestion:
. First: review class material and re-do class problems; review corresponding textbook material;
. Then: attempt quick study (QS) using the text and notes to help you, if needed;
. Finally: work Exercises (E) and Problems (P) as if you are taking a midterm (no notes, no textbook)
. Note – do not look at any solutions until you have completed each problem. Your goal should be to get a high percentage of the homework problems correct on the first attempt.
Cash Flow Assignment
The cash flow assignment is accessible via the “Cash Flow Assignment” tab in our class site. The assignment
can be printed, completed by hand, and scanned; or completed electronically by typing/writing your
responses onto the PDF doc. The assignment must be turned in via the course website by the due date and time. Late submissions will not be accepted and will result in a score of zero on the assignment.
The assignment is to be completed on your own. Anything you turn in must be your own work only. This means you are not to work on the assignment in groups, copy work from any other student, etc.
Midterms
There will be 3 periodic midterms. Each midterm will cover the Chapter(s) presented in the week(s) just prior to the midterm. Remember: Accounting by its’ nature is cumulative – each subject area builds on the last
area. Midterms will thus be “cumulative ”, but the material covered in each midterm will be limited to the material covered since the last midterm.
. Each midterm will consist of multiple choice questions.
. All midterms are closed book, closed note.
. Absolutely NO sharing of midterm information, questions, answers, etc. is permitted.
. You will have 45 minutes to complete midterm #1 and #2 and 60 minutes to complete midterm #3.
. Due to the high number of students enrolled in the class, midterms must be taken in person on the scheduled date and time. Failure to take a midterm will result in a score of zero for that midterm. There will be no make-up midterms (other than for the normal accommodations for confirmed
disabilities through CAE; religious observances; confirmed illness and/or death in the immediate family).
. You may use a simple calculator. Graphing, financial or scientific calculators are not necessary.
The midterms are application focused, requiring you to understand and apply the accounting principles
learned, not just memorize information. Midterm questions will consist of material presented in the lectures and covered in the homework problems. The midterms will get progressively harder as the quarter goes on and the material gets more complex.
Midterm viewing sessions will be held the week after each exam. You will be able to review your graded midterm. Graded midterms will NOT be passed back.
Emails
Due to the size of our class and the volume of emails I receive, please adhere to the following email guidelines:
1. Please pose your question to your TA in discussion section, TA office hours, or email.
2. If, after contacting your TA, you need further assistance, please attend my office hours.
3. If you still need further assistance, please send me an email that follows these guidelines:
o Put the course number “MGMT 1B” in the subject line of your email;
o Be as concise as possible;
o If you pose more than one question, please number your questions;
o Proofread your email before you send it.
Please note, privacy laws prevent me from using email to discuss grades.