Syllabus Fall2019 ACCT5101 HZhang PDF

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ACCT 5101 – Intermediate Accounting I Fall 2019 Carlson School of Management, UMN – Twin Cities

Instructor Office Phone Email TA TA Email

Haiwen (Helen) Zhang CSOM 3-297 (612) 624-9818 [email protected] Luke Walker [email protected]

Tu/Th Session

9:55 AM – 11:35 AM 1:45 PM – 03:25 PM

CSOM 2-233 CSOM 1 -143

Office Hours Instructor: Thursdays 8:30 – 9:30 AM CSOM 3-297 TA: Tuesdays 3:30 – 4:30 PM CSOM L-107 Please email the instructor or TA for appointments at other times. Course Materials 1. Intermediate Accounting 17th Edition, Kieso, Weygandt, and Warfield. 2. Access to WileyPlus online system. 3. Additional materials are available on Canvas. Please print out the materials and bring them to class before each session. You can either acquire the textbook with access to WileyPlus from the UMN bookstore or online directly at WileyPlus. Please see the attached class flyer for details. Course Objective and Description ACCT 5101 is the first course in a two-semester intermediate accounting sequence. ACCT 5102 has this as a prerequisite. Taken as a whole, they represent the core financial accounting subject matter of the undergraduate accounting curriculum. Typically, students majoring in finance or accounting enroll in these two courses. Although students will choose to pursue employment with a variety of firms or professions, they nonetheless should be prepared to achieve the same basic knowledge and skills expected of all accounting professionals. The essential subject matter of the 5101 course is an in-depth study of financial statement content and use, especially focusing on matters related to operating activities and long-term operational assets. Essential to this study is an understanding of the reporting environment in which our capital markets are regulated by the SEC and FASB and through which companies

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provide audited financial information regularly to capital providers and others with vested economic interests. Your learning of this material requires a highly disciplined routine, including reading and understanding key ideas, regular practice of accounting methods and techniques, and critical analysis of issues through which the knowledge is applied in practice. As students seeking to become professionals in this field, it is important that you also begin to follow the intellectual development in the academic discipline of accounting. Much of today’s leading thinking about accounting policies and practice originated in the rigorous theorizing and empirical analysis that is the domain of academe. Although graduate degrees are the primary domain for such study, we initiate your appreciation of these issues in the undergraduate program. In addition to conceptual and technical knowledge, 5101 and 5102 are designed to build and exercise the essential skills of a professional accountant, particularly communication skills and professional research and inquiry skills. Employers, as well as professional and graduate schools, all seek candidates who have developed these skills so that they can be employed at the next level. Class Expectations This course demands a considerable amount of time and commitment. The effort will pay off most immediately by preparing you well for the follow-on courses in the Financial Accounting area and other business courses. The longer-term benefit is that promising careers in business will be open to you. The course difficulty builds up rapidly throughout the semester. If you feel shaky about the basics of accounting, please be sure to review your class notes from the introductory courses now. The best way to learn accounting is to practice on your own -- “Just do it!” Watching the instructor or your classmates solve problems won’t help you become facile. Furthermore, you will find that it is much easier to get good grades if you work consistently throughout the semester. Finally, regular class attendance is important since missed class meetings generally result in lower performance on exams. If you do miss a class, it is your responsibility to ensure that you understand the material covered in the class you missed. Grading Below is the total points allocation. Maximum Points 500 100 100 700

Mini-exams (100 points each) Homework Professionalism & participation Total

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Historically, the median grade for ACCT 5101 is B+. Below is a more refined grading guideline. The cutoff points are determined based on historical data. The instructor may make minor adjustment to a particular cutoff point based on the final grade distribution of a class. Total Points > = 90% Between 80% and 90% Between 67% and 80% Between 60% and 67% Below 60%

Maximum Points A or AB+ or B B-, C+, or C C- or D F

Mini-exams We will have 6 in-class mini-exams. Each exam is worth 100 points. These 45-minute miniexams are scheduled at the beginning of the class. Please see Canvas for specific exam dates. In-class mini-exams are closed-book and closed-notes. The best 5 of 6 mini-exams will be included in the final grade. Please refer to the university policy on make-up work for a list of legitimate circumstances, for which accommodations for makeup work will be made. Students must notify the instructor as soon as possible if a legitimate circumstance for absence arises and provide verification for the absence. Online homework system on WileyPlus We use an online homework system affiliated with the textbook to assign and grade homework and practice problems. Please go to the following website and find your course by entering the course ID A84920 www.wileyplus.com/go/login Please see the attached flyer for registration details at WileyPlus. Please register on WileyPlus using the same name as in the Canvas system so that your information can be merged within the two systems without error. There will be 12 weekly homework assignments. Weekly homework problems are assigned every Thursday afternoon. Students are required to submit the homework through WileyPlus for that week by next Monday at 10:00 pm. Please always save your answers if you work on the homework questions but are not ready to submit the final answer. After you finish, please submit your final answer and see your grade. You can then see the feedback information to compare your response to the correct response. You get 10 points for each homework if you achieve at least 60% of the total homework grade based on WileyPlus grading system. The best 10 out of 12 homework assignments will be included in the final grade.

Use of calculators during exams

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You are required to have clear up the memory of your calculator if it has a memory function.

Class Participation / Professionalism Attendance and being actively engaged in class is expected in the business world and it is expected in this course. I will routinely ask questions of the class. Whether or not you give the “right” answer is not the objective here, rather being prepared for and engaged in class is what is important. Behaving as a professional is also expected in this course. Inappropriate behavior, comments, and language will cost you in the business world, and will cost you here as well. This applies to conduct in the classroom, as well as in office hours and in course-related e-mails. I ask that you arrive on time for class; chronic lateness will reduce your professionalism points. I also ask that cell phones are turned off and that they remain out-of-sight (i.e., in your pocket, purse, or backpack) during class. If you are using a notebook computer in class, I ask that you are only engaged in course-related activity (Power point slides, Canvas class site, WileyPlus, etc.) Web browsing and connecting to social media sites is distracting to other students. If I find evidence of this activity, I will ask you to leave your notebook at home.

Students with Disabilities The University of Minnesota is committed to providing equitable access to learning opportunities for all students. Disability Services (DS) is the campus office that collaborates with students who have disabilities to provide and/or arrange reasonable accommodations. If you have, or think you may have, a disability (e.g., mental health, attentional, learning, chronic health, sensory, or physical), please contact DS at 612-626-1333 to arrange a confidential discussion regarding equitable access and reasonable accommodations. If you are registered with DS and have a current letter requesting reasonable accommodations, we encourage you to contact your instructor early in the semester to review how the accommodations will be applied in the course.

Mental Health Statement As a student you may experience a range of issues that can cause barriers to learning, such as strained relationships, increased anxiety, alcohol/drug problems, feeling down, difficulty concentrating, and/or lack of motivation. These mental health concerns or stressful events may lead to diminished academic performance or reduce your ability to participate in daily activities. University of Minnesota services are available to assist you with addressing these and other concerns you may be experiencing. You can learn more about the broad range of confidential mental health services available on campus via www.mentalhealth.umn.edu.

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Grade of incomplete, "I" Consistent with the Carlson School policy, the grade “I” is limited to those cases where a student is both (1) passing and (2) prohibited from completing the course due to circumstances beyond his or her control. The grade “I” is not intended as a safe harbor for students who are not passing or who wish a little more time to study. Nor is the grade intended as an escape from tuition charges in the event a student wishes to withdraw from the course. Such students will be assigned the grade of “F”. Also note that University regulations require that grades of incomplete be made up within one semester. Finally, if you become ill during the semester, you should consider withdrawing from the class. Illness is a valid reason for the grade of "I" only if you are too ill to complete the course. If you become ill during the course to the extent that you cannot keep up with the work, contact your advisor and consider withdrawing from the course.

Withdrawal from class Constant with Carlson School policy, you may withdraw from this course under some conditions. See the Fall Semester Class Schedule for details.

Academic misconduct statement The following paragraph is the official Carlson School Statement on Academic Misconduct. Read it carefully and be sure that you understand it. You will be asked to sign your exams as evidence that you have read and understand this statement The Carlson School defines academic misconduct as any act by a student that misrepresents the student's own academic work or that compromises the academic work of another. Academic misconduct includes but is not limited to: cheating on assignments or examinations, plagiarizing, misrepresenting as one's own work any work by another, submitting the same paper or substantially similar papers to meet the requirements of more than one course without the approval and consent of the instructors, or sabotaging another's work. Within this general definition, however, instructors determine what constitutes academic misconduct in the courses they teach. Students found guilty of academic misconduct face penalties ranging from a grade reduction to suspension from the University. I understand this statement to mean that (1) you must not misrepresent someone else's work as your own, (2) you must not interfere with another student's academic efforts and (3) you must not aid another student in committing either of these two acts. The consequence for a violation of this statement is to assign the student a grade of "F" for the entire course. In addition, the Professor will be forced to report the transgression to the Office for Community Standards.

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First day of class attendance policy The Mandatory Attendance policy requires students to attend the first class meeting for all registered courses unless they have obtained your approval (or your department's approval, if appropriate). Each student must make those arrangements in advance of the first class session. Students who have failed to do so are in jeopardy of losing their seat.

Communication Class announcements and updates will be made on the course webpage on Canvas continually throughout the semester, so please check the course webpage frequently (especially before coming to class each day). Please contact me at any time that you need help with the class. I am here to help you learn the material. I hope you enjoy this course.

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