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 Introduction to Financial and Managerial Accountin  posted by  boym   on 9/9/2007  Add Courseware to favorites Add To Favorites  
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Abstract/Syllabus:

Roychowdhury, Sugata, 15.501 Introduction to Financial and Managerial Accounting, Spring 2004. (Massachusetts Institute of Technology: MIT OpenCourseWare), http://ocw.mit.edu (Accessed 10 Jul, 2010). License: Creative Commons BY-NC-SA

A diagram from lecture 1.

A diagram from lecture 1 that illustrates how Financial Accounting promotes the exchange of resources. (Image courtesy of Prof. Sugata Roychowdhury.)

Course Highlights

This course features a full set of lecture notes and assignments.

Course Description

This course studies basic concepts of financial and managerial reporting. The viewpoint is that of readers of financial and managerial reports rather than the accountants who prepare them.

Syllabus

 
 
TA Sessions

The TAs are important members of the teaching team and are committed to helping you reach the course objectives. They are responsible for grading most of the written assignments and exams. Schedule of their office hours will be announced on the first day of class.

Office Visitations

If you have been attending class and help sessions but are still falling behind you are encouraged to visit us. These meetings will be much more productive if you come well prepared with specific questions. In addition, be familiar with the definitions and notation related to a topic even if you are having conceptual difficulties. Most importantly, don't tell us that you understand something when you are still perplexed. Please make appointments by email.

Grading Procedure

Your grade will be based on the following weights:

ACTIVITIES PERCENTAGES
Contributions to Class Discussion 10%
Written Problem Sets (best 7 of 8) 10%
First Exam 20%
Second Exam 20%
Final Exam 40%

Individual versus Group Assignments

The problem sets are to be done individually and are intended to help you learn and practice the mechanics of the course material. By this, we mean that the work you turn in must be your own, as opposed to copied from another. This does not mean you have to do individual assignments in isolation. We expect that you will need to consult each other in order to understand, or better understand, the material. Seeking and giving such assistance is encouraged.

Regrade Policy

If you believe an error has been made in grading your homework or exam, you may request a regrade by doing the following: Write a brief note to your TA explaining why you think there is an error and submit both the note and the entire assignment or exam to which it pertains. All regrade requests must occur within seven (7) calendar days of the day graded material is returned to the class. We reserve the right to regrade the entire contents of any submitted assignment or exam.

Bulletin Board

We will use the bulletin board to extend the class discussion outside of the space-time constraints of the class. Your TA's and I will actively participate in all ongoing discussion threads. This should be a less threatening place to engage your classmates in discussions of course topics. To encourage all to participate, contributions to the bulletin boards will be counted towards your class participation points. Other aspects of "class participation" will be discussed on the first day of class.

Assignments

Unless otherwise noted, problem sets must be submitted before the start of the class of the due date. Note on text problems: "Do" are problems that will help you prepare for class; but they do not have to be submitted. "Opt" are problems that you could optionally do if you want more material to study.

Course Materials

Required Text

Pratt, J. Financial Accounting in an Economic Context. 5th ed. John Wiley & Sons, 2003. ISBN: 0470000465. (Hereafter cited as "Pratt")

Required Case Packet

Includes supplemental readings and Harvard Business School cases. (Hereafter cited as "CP")

Supplementary Texts

People have different approaches to learning, and the best text for one student may not be the best for another. One may also be interested in related, more advanced topics that are beyond the scope of this class. Therefore, here are some supplementary texts:

Stickney, C., and R. Weil. Financial Accounting: An Introduction to Concepts, Methods, and Uses. 10th ed. Fort Worth: The Dryden Press, 1997.  ISBN: 0030182727.

Bazley, J. S., L. A. Nikolai, and H. B. Grove. Financial Accounting: Concepts and Uses. 3rd ed. Cincinnati, Ohio: South-Western College Publishers, 1995.  ISBN:  0538839228.

Hoskin, R. Financial Accounting: A User Perspective. 2nd ed. Toronto: John Wiley & Sons, 1997.  ISBN: 0471642134.

Kieso, D., and J. Weygandt. Intermediate Accounting. 9th ed. New York: John Wiley & Sons, 1998.  ISBN:  0471641839.

Calendar

 
 
LEC # TOPICS KEY DATES
1 Overview of the course, Administrative matters, Discussion of Accounting Framework  
2 The Balance Sheet and the Recording of Transactions  
3 The Income Statement and Principles of Accrual Accounting  
4 The Income Statement and Principles of Accrual Accounting (cont.)  
5 The Accounting Process Problem sets 1 and 2 due (Case write-up)
6 Revenue Recognition  
7 Revenue Recognition (cont.)  
8 Inventory/Cost of Goods Sold Problem set 3 due
9 Statement of Cash Flow  
10 More on the Statement of Cash Flows/Exam Review Problem set 4 due
11 First Exam  
12 Long-term Assets/Depreciation (Deferred Taxes)  
13 Matching Principle for PP&E  
14 Marketable Securities (Deferred Taxes)  
15 Marketable Securities, Time Value of Money  
16 Long Term Debt Problem set 5 due (Case write-up)

Problem set 6 due
17 Leases and Off-Balance Sheet Financing  
18 Current Liabilities and Contingencies  
19 Midterm 2 Review Problem set 7 due
20 Second Exam  
21 Intangibles and Business Combinations  
22 Introduction to Cost Concepts  
23 Indirect Allocation of Costs, Destin Brass  
24 ABC, Destin Brass  
25 Managerial Accounting Wrap-up, Seligram Discussion Problem set 8 due (Case write-up)
26 Course Review/Wrap-up  
  Final Exam (Comprehensive in scope)  



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