Department of Accounting and Business Analytics Accounting 501
Introduction to Financial Reporting and Analysis Syllabus
FALL2021
Instructor: Erin Marshall, PhD, CPA, CA Classes
Office: 3-40E A1: W 9-11:50am (5-40A/B)
Office Hrs: Tuesday 10:00am-12:00pm Also available by appointment
TA office hours Monday 7:00pm-9:00pm E-mail: [email protected]
COVID – all information provided below assumes in person classes will continue throughout the semester. If that status changes and we go back to on-line learning, a revised syllabus will be provided.
Course Description and Objectives
The goal of this course is to promote informed interpretation and analysis of the financial information disseminated by business enterprises. The course provides a framework for understanding contemporary financial reporting practices in Canada, the United States and other developed economies, the diverse forces that shape those practices, and how those practices influence the usefulness of financial information in applied decision settings.
Coverage is organized around two distinct components.
Part A: Accounting Fundamentals – provides a basic introduction to the accounting framework and “the language of business”
Part B: Financial Reporting and Financial Statement Analysis – an evaluation of ASPE, IFRS and financial disclosures for purposes of performance analysis. Class assignments and discussions emphasize the use of financial information in developing an accurate profile of the firm's economic performance.
Blended learning: This class is delivered in a semi-blended format. This means that some of the formal lecture and class time will be replaced with out of class preparation. Additionally, some of the in-class lecture will be replaced with hands on activities. A detailed course schedule will be provided.
Learning Outcomes:
Upon completion of this course you should be able to:
1) Describe both the role and relationship of the major financial reporting statements 2) Describe the accounting principles and regulations that frame financial statements
3) Appropriately classify and journalize transactions and identify their impact on financial statements
4) Use financial statement ratios to evaluate organizational performance 5) Obtain and interpret information from an annual report
Academic Integrity
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 (online atewww.governance.ualberta.ca) and avoid any behaviour which 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
Course Materials and Activities
Textbook: Understanding Financial Accounting by Christopher D. Burnley (2nd Canadian Edition). Here is the link to the text in the bookstore: Acctg 501 Text
The textbook is available to you as an additional resource to the topics covered in class and in videos.
The course is not structured heavily around the text so you can use it as a supplemental resource for additional readings and practice problems. All assignments and exams will be based on materials presented in class.
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eClass
You will be able to obtain information for use in-class and related materials from eClass at https://eclass.srv.ualberta.ca
Other than information provided for class, eClass will be where announcements and other information regarding the course will be made available. Please plan to check this site regularly and/or make sure your settings in eClass will send you emails when there are announcements.
Class Structure: Classes will be structured in a combination of the following ways:
1. Blended Learning (Asynchronous Learning): These materials will include videos and activities for you to complete outside of class and they will substitute for portions of all of the class meetings. This will generally include video-based technical overviews of topics followed by exercises, activities or cases to reinforce understanding. On these days you will usually have a marked participation deliverable that is connected to the blended material. This will usually take the form of a small submission (e.g. a question or a quiz). These activities will prepare you for in-class activities that we will do in subsequent classes.
2. Live Class (Synchronous Learning): After becoming familiar with the technical aspect of an issue we will apply the knowledge to a problem, mini case or real-life example. We will use a variety of learning techniques in class.
For the synchronous sessions please bring a laptop or other portable electronic device that allows you to work with others.
This is a fast-paced course and you will find it essential to complete all the relevant activities prior to class time. A detailed class schedule will be provided (linked to a google sheet in eClass).
Part I: In part I of the course we will develop a wide base of accounting fundamentals.
We will systematically go through the financial statements, including the Statement of Financial Position (balance sheet) and Statement of Income (income statement).
Part II: After the midterm we will focus on applying the base of knowledge acquired in part I. We will apply this knowledge to topics such as cash flow and financial statement analysis. Materials will be provided ahead of class and it is expected that students will come to class well prepared. Formal lecture will at times, be limited and the majority of class time will be spent on application / activities in assigned groups.
Students are responsible for all information provided in class (e.g., announcements, lectures etc.). If you are absent in a class, it is your responsibility to arrange for someone else in the class to provide you with the information you may have missed.
*Note that Reading Week is November 8th-12th and there are no classes during that week.
Evaluation
Your grade of in this course will be based on the marks you obtain on the following items totaling 100%:
Assignments (3) (throughout – see google sheet in eClass)
Group Project 15%
20%
Midterm Examination (October 27th) 25%
Final Examination (December 15th / TBD) 30%
Participation 10%
Letter grades will be assigned to the percentage marks in accordance with University
Regulations [Section 23.4(4) of the University Calendar]. Grades in this course will be based on a combination of absolute achievement and relative performance.
These grades represent the only marks available to students. No additional work or extra credit is available.
Participation (10%): Participation comprises 10% of your grade. Active participation is critical to success in this course and in a business environment. All comments and questions are welcome. Participation marks will be awarded based on my view of your overall participation during the semester and also based on objective out of class participation submissions.
Out of class participation will take the form of eClass submissions (e.g. a question about the material, a short quiz, etc.). Due dates for all participation submissions will be communicated ahead of time via the online course schedule. In-class participation will include an assessment of your preparedness and contributions to advancing discussions and activities. The split between in-class and out of class will be determined as we progress through the semester.
Assignments (15%): The assignments will be done in class or outside class and can be submitted in groups of your choice or individually. The course schedule in google sheets indicates the dates of the assignments. Three assignments worth 5% each will be assigned and submitted throughout the term. Your mark for this component will be based on your performance on all three assignments.
• If you miss an assignment for a valid reason (e.g., permission obtained prior to class) the
% for the missed assignment will be added to your midterm grade (if prior to the midterm) or final (if after the midterm).
• To receive credit for missed assignments you MUST inform me of your absence the day before or the day of the assignment (PRIOR TO CLASS).
• Make up assignments are not granted and if you contact the instructor after the assignment time has passed, a mark of zero will be assigned.
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• Submissions should be electronic on eClass.
Midterm Examination (25%)
The midterm exam will be held October 27th. The format of the midterm may change if circumstances change (e.g. classes go back online). More information will follow about the midterm as we progress through the semester.
You will have three hours to write the midterm exam. If you miss the midterm for an approved / valid reason, you be required to write a make-up midterm at a later date. You must contact the instructor before the midterm exam to avoid a 0% on the midterm. There are no deferrals of midterms permitted and all students will have to have a portion of their mark related to the midterm.
You will be allowed to bring ONE single sided 8.5x11 sheet of paper for the midterm and ONE additional single sided 8.5x11 sheet of paper for the final exam (2 pages total for the final exam). These can be typed or handwritten. You will also be allowed a calculator. All other electronic devices (including but not limited to cell phones, tablets, and electronic foreign language dictionaries) are prohibited. No sharing of books, notes or other materials is allowed during the exam (this includes talking and discussions with your teammate or neighbour).
Section 23.5.1 of the Calendar provides the University Regulations for the conduct of exams.
The instructor will provide further instructions for the midterm exam on eClass.
Group Project (20%)
The group project and requirements will be posted on the course website by March 6, 2017. The analysis MUST be done in groups of 4-5. Individual submissions and submissions from groups of two/three will not be accepted. You must not consult any of your other classmates or anyone else. Consulting others will be considered an act of academic dishonesty. No late assignments will be permitted. Submissions should be electronic on eClass.
Final Examination (30%)
The final exam is tentatively scheduled for December 15th @ 2:00pm. The format of the exam may change if circumstances change (e.g. classes go back online). More information will follow about the final examination as we progress through the semester. However, right now it is scheduled to be a live in person exam with notes pages as described above.
If the final exam is missed, then the student must apply to the Faculty of Graduate Studies and Research for permission to write the deferred exam. Permission to write the exam is not automatic – the FGSR policy is to consult with the instructor to obtain information regarding the student when making a determination. If a deferred examination is granted, the deferred examination will be written on January 14th, 2022 at 10:00 am. If permission is not granted or the deferred examination is not written on the appointed date, then a mark of 0 shall be entered for the final exam.
Remarking Policy for Assignments, Midterm Exam and Projects
After marked assignments and midterm exam papers have been returned, the answer key or a sample answer will be posted on eClass. Students should review the marking carefully and bring to the instructor’s attention any questions about their marks as soon as possible. No remarking requests will be accepted more than one week after the results have been made available. All appeals must be in writing and must be made AFTER viewing the solution and the original copy of the exam, quiz, or assignment (unless available on-line) must be attached.
Marking errors can of course, be discussed quickly and corrected immediately. Please note that if you request your work be remarked, the grade can go up or down and the remarked grade will serve as the official grade.
Final Exam Marking Policy
For information regarding applying for a reappraisal of your final exam please see Section 23.5.4 (2) of the Calendar.
Other
This semester, Acctg 501 has a TA. The TA will hold weekly office hours and will be available to answer questions.
Classroom Etiquette
Certain types of behaviour are distracting both to the instructor and to your fellow students.
Therefore, I ask that you:
• Arrive on time for class and stay until class is over. However, if you have to leave early or arrive late please let me know ahead of time.
• Refrain from using personal communication or entertainment devices during the class meetings. It is very distracting to the professor and your classmates.
Please note that any of the above behaviors will detract from your participation grade.
Recording of lectures in any fashion by students is allowed only with the prior written consent of the instructor or as part of an approved accommodation plan. Recorded material is to be used solely for personal study and is not to be used, posted or distributed for any other purpose.
Face masks on campus
To promote a healthy and safe learning, working, and living environment, non-medical face masks must now be worn in all public indoor areas on University of Alberta. Masks are not necessary to be worn on campus under the following circumstances:
• Working alone in private offices
• Working outdoors AND there is a minimum of 2 metres between people
• Meeting indoors and there is a minimum of 2 metres between people
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• Working alone in a shared space
• Working in a cubicle with plexiglass, wall, or other approved barrier between people AND when not providing services to anyone
• In a classroom where there is a minimum of 2 metres between instructor or among students.
If adequate distancing is not possible, per UofA COVID protocols, face masks must be worn by students at all times in classrooms.
Please feel free to ask questions during class. Because of COVID, questions outside of class should be asked via email or in office hours.
Class Attendance
It is your responsibility to attend class. If you miss class for any reason, you are still responsible for all materials covered, announcements made, and handouts provided. I will not hold
separate office hours to go over the material again.
ACADEMIC SUPPORTS
The Academic Success Centre provides professional academic support to help students maximize their academic success and achieve their academic goals. The Centre offers
appointments, advising, group workshops, online courses, and specialized programming year- round to students in all university programs, and at all levels of achievement and study.
Website: https://www.ualberta.ca/current- students/academic-success-centre Location: 1-80 Students' Union Building University of Alberta, North Campus Phone: 780-492-2682 Email: [email protected]
ACADEMIC INTEGRITY
Because we regard this class as we would any job responsibility, it seems prudent to clarify, in advance, the policy on academic integrity. Given the professional nature of the MBA program, it is unlikely that a student in this class would turn in work which is not their own. However, if we determine that the work is not entirely that of the student(s) whose name(s) appear on the work, the student(s) involved may not pass this course and be further subject to program-level discipline. Specifically, in order to protect the integrity of the MBA degree, the University may expel, suspend, reprimand, or reduce a course mark of any student who breaches the Code of Student Behavior.
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 (online at http://www.governance.ualberta.ca/StudentAppeals.aspx) 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.
Policy about course outlines can be found in Section 23.4(2) of the University Calendar.
