Accounting 311 Introduction to Accounting for Financial Performance

University of Alberta School of Business

Department of Accounting and Business Analytics

Accounting 311

Introduction to Accounting for Financial Performance

Syllabus

WINTER 2024

Instructor:Jason Lee

Office: BUS 4-30B

Email: [email protected]

Office Hours: TR 1:00 PM – 2:00 PM

Lecture Section: B01 TR 11:00 AM – 12:20 PM BUS 1-05

Seminar Section J01  T   3:30 PM – 4:50 PM    BUS 1-05

1. Course Description and Objectives

Accounting 311 is an introductory course in financial accounting. Accounting is commonly called the language of business. Specifically, financial accounting emphasizes accounting and reporting for users external to a business (shareholders, creditors, tax authorities, regulators, etc.). Such reporting uses a fairly standard set of "financial statements," so the course focuses on providing students with a basic understanding of the use, preparation, and interpretation of financial statements.

Specific skills developed in this course include the ability to:

- Understand the elements in financial statements, what information is provided by each statement, and how that information may be used to evaluate a business

- Perform and understand the steps in the accounting cycle,

- Understand and be able to apply various calculations associated with measuring a variety of elements in the statements, and

- Analyze financial information and understand how decisions impact on financial reports and the information conveyed.

This course incorporates the Learning Goals of the BCom Program, in particular: Business Concepts and Theories and Ethical Awareness.

2. Academic Integrity

Absolute and complete academic honesty is expected of you in this course. It is important for you as a student to behave in an ethical manner. The University of Alberta is committed to the highest standards of academic integrity and honesty. Students are expected to be familiar with these standards regarding academic honesty and to uphold the policies of the University in this respect. Students are particularly urged to familiarize themselves with the provisions of the Code of Student Behaviour and avoid any behaviour that could potentially result in suspicions of cheating, plagiarism, misrepresentation of facts and/or participation in an offence. Academic dishonesty is a serious offence and can result in suspension or expulsion from the University.

3. Course Materials and Activities

3.1. Textbook

Financial Accounting: Tools for Business Decision-Making, Eighth Canadian Edition by Paul D.

Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine, and Christopher D,Burnley. Copyright © 2020.

3.2. Calculator

You are permitted to use a non-programmable calculator in the exams. Please ensure that you have a non-programmable calculator that you are comfortable.

3.3. eClass

You will be able to obtain the solutions for recommended questions, in-class examples (to be updated weekly), and sample exams from eClass.

3.4. In-class Activities

Our classes will be a combination of lectures and discussions of problems. Most of the concepts and techniques taught in this course are best illustrated and learned through problem solving. Therefore, we will analyze many problems in class.

3.5. Class Attendance

Presence at lectures, participation in classroom discussions, and the completion of recommended questions are important components of this course, and students will serve their interests best by regular attendance. Those who choose not to attend must assume whatever risks are involved.

Students are responsible for all information provided in class (e.g., announcements, lecture notes, etc.). If you are absent in a class, it will be your responsibility to arrange for someone else in the class to provide you with the information you may have missed.

Please note that I will not post class notes on eClass. If you miss a class, you will have to get notes from a classmate.

4. Evaluation

There will be two (2) midterm exams and a final exam. The weighting of each components is given below:

Assessment Components
Midterm Exam #1:	25%	February 15, Thursday (in class)
Midterm Exam #2:	25%	March 21, Thursday (in class)
Final Exam (cumulative):	50%	April 25, Thursday, at 2:00 PM (tentative)
Total:	100%

Letter grades will be determined in accordance with the Evaluation Procedures and Grading Systemsection of the University’s Academic Regulations. Grades in this course will be based on a ACCTG 311 – Winter 2024 combination of absolute achievement and relative performance. These grades represent the only marks available to students. No additional work or extra credit is available.

4.2. Exams

All exams will be closed book. You are allowed to use a non-programmable calculator. You will have 80 minutes to write each midterm exam and two hours to write the final exam. The final exam will be cumulative.

The Examinations section of the University’s Academic Regulations provides guidance for the conduct of exams. At an exam, students must be able to present their student ID cards or other acceptable photo identification. Cell phones, iPods, and other electronic devices must be turned off and put away prior to the exam.

4.3. Remarking Policy for Quizzes, Assignments and Midterm Exam

After marked midterm exams are returned, the answer key will be posted on eClass. Students should review the marking carefully and bring to my attention if they have any questions about their marks as soon as possible. No remarking requests will be accepted more than one week after the results are made available.

All appeals must be in writing and the original copy of the exam or assignment must be attached. Items submitted for appeal may be subject to an entire review. This may result in your grade being lower.

4.4. Absence from Exams

In the event that a mid-term exam is missed for an acceptable reason, no make-up exam will be given. Instead, the weight assigned to the missed exam will be reallocated to the final exam.

Once you have written an exam, marks will not be reallocated due to explanations given after the fact.Therefore, if you are too ill to write an exam, please do not attempt to write it.

If a student is absent from the final exam, he/she will have to obtain permission from the School’s Undergraduate Office to write a deferred final exam. If a deferred final exam is required for this course, it will be tentatively held at 10:00 AM on May 3, Friday, 2024.

4.5. Seminars

The seminars are meant to provide you with additional help sessions. While seminar attendance is not compulsory, I (or TA) will go over some of recommended problems and may review sample exams.

5. Others

Audio or video recording of lectures, labs, seminars or any other teaching environment by students is allowed only with the prior written consent of the instructor or as a part of an approved accommodation plan. Recorded materials are to be used solely for personal study, and is not to be used or distributed for any other purpose without prior written consent from the instructor.

Policy about course outlines can be found in the Evaluation Procedures and Grading System section of the University’s Academic Regulations.

6. Useful Links

The University’s Academic Regulations:

https://calendar.ualberta.ca/content.php?catoid=6&navoid=806

Code of Student Behaviour: https://www.ualberta.ca/governance/resources/policies-standards-and-codes-of-conduct/code-of-student-behaviour

	Topics	Required Reading	Recommended Problems
1	The Purpose and Use of Financial Statements	Chapter 1	BE1.5, BE1.6, E1.3, E1.5 E1.13
			P1.1A, P1.2A, P1.4A, P1.5A, P1.7A, P1.9A, P1.6B, P1.9B
2	A Further Look at Financial Statements	Chapter 2	BE2.9, E2.1, E2.4, E2.6 (a and b only), E2.7 (a and b only), E2.9
			P2.1A, P2.2A, P2.3A, P2.4A, P2.5A, P2.2B, P2.3B, P2.4B
3	Accounting Information System	Chapter 3	E3.2, E3.5, E3.10, E3.12, E3.13
			P3.4A, P3.5A, P3.6A, P3.9A, P3.10A, P3.11A, P3.4B, P3.7B, P3.8B
4	Accrual Accounting Concepts	Chapter 4	BE4.1, BE4.5, E4.1, E4.9
			E4.1, P4.1A, P4.2A, P4.3A, P4.8A, P4.10A, P4.7B, P4.10B
5	Merchandising Operations	Chapter 5	BE5.5, BE5.6, E5.3, E5.4, E5.5
			P5.2A, P5.3A, P5.5A, P5.6A, P5.11A, P5.12A, P5.13A, P5.14A, P5.17A,P5.5B
6	Reporting and Analyzing Inventory	Chapter 6	BE6.1, BE6.7, BE6.9, E6.1, E6.11
			P6.1A, P.6.4A, P6.5A, P6.9A, P6.10A, P6.11A, P6.13A, P6.14A, P6.15A, P6.3B
7	Internal Control and Cash	Chapters 7	P7.2A, P7.4A, P7.5A, P7.7A, P7.8A, P7.9A
8	Reporting and Analyzing Receivables	Chapter 8	BE8.6, BE8.13, E8.2, E8.3, E8.7
			P8.2A, P8.3A, P8.5A, P8.6A, P8.7A, P8.10A
9	Reporting and Analyzing Long-Lived Assets	Chapter 9	BE9.14, E9.1, E9.3, E9.8
			P9.2A, P9.3A, P9.4A, P9.7A, P9.8A, P9.10A, P9.12A, P9.6B
10	Reporting and Analyzing Liabilities	Chapter 10	E10.4, E10.5, E10.7, E10.12, E10.13, E10.14
			P10.1A, P10.2A, P10.3A, P10.4A, P10.6A, P10.8A, P10.9A, P10.10A, P10.4B
11	Reporting and AnalyzingShareholders’ Equity	Chapter 11	E11.2, 211.5, E11.13
			P11. 2A, P11.3A, P11.4A(a-d), P11.5A, P11.7A, P11.10A, P11.4B, P11.6B, P11.7B
12	Reporting and Analyzing Investments	Chapter 12	E12.1, E12.4, E12.5, E12.13
			P12.2A, P12.6A (ignore part f), P12.10A, P12.11A, P12.2B, P12.8B
13	Statement of Cash Flows (Indirect method only)	Chapter 13	E13.4, E13.5
			P13.1A, P13.2A(ignore part b), P13.3A, P13.5A, P13.9A
14	Performance Measurement	Chapter 14	BE14.15, E14-17, P14.5A, P14.8A, P14.9A, P14.5B