BUSIPS5009: FINANCIAL ACCOUNTING

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BUSIPS5009: FINANCIAL ACCOUNTING

Schedule
Dates: September 5, 2023 - December 11, 2023
Time: Wednesdays, 8:10pm - 10:00pm, ET
Credits  3
Contact Information
Instructor: Rebecca Shaffer
Office Hours
Tuesdays and Thursdays 7:00–9:00 pm (EST) by appointment
Response Policy I intend to log onto the course and check email on a daily basis. You should expect a
response from me within 24 hours. If you have an urgent question or concern,
please contact me by telephone.
Facilitator/Teaching Assistant: [Name and title, if applicable]
Email [Facilitator's Email Address ([email protected])]
Phone [Facilitator's Phone Number]
Office Hours [SPS policy: Must state date, time and location; may also indicate by appointment]
Response Policy [Include a brief statement about your preferred means of communication and when students should expect a response from you. Will you be available 24/7 or during the workweek only? Will you generally respond within 12 or 24 hours?]

Course Overview

This course examines the fundamentals of basic accounting concepts, assumptions, and principles. After we establish the fundamentals, we will analyze the recording of business transactions, the adjusting process, and the procedures to complete the accounting cycle. We then progress into an examination of merchandising operations and merchandise inventory accounting. The last portion of the course will focus on the basics of internal control and cash and the accounting procedures for receivables. The topics chosen in this course will benefit any student who is responsible for managing budgets, reading financial statements, or making business decisions.

You will not only learn and understand accounting principles and processes but also examine how these can be applied in typical real-world contexts.

When you finish the course you should have a broad understanding of accounting knowledge and how basics translate into understanding the business world at large.

Learning Objectives

The goal of this course is to help you learn accounting concepts and procedures and apply them to the business world. By the end of this course, you will be able to:

L1: Identify basic accounting concepts, assumptions, and principles.

L2: Utilize accounting tools such as general journals and general ledgers throughout the entire accounting cycle.

L3: Utilize basic accounting processes and systems that support internal controls.

L4: Research accounting issues that have impacted our society in recent years.

L5: Critically analyze ethical issues in accounting practices.

L6: Discuss critical accounting theory and processes.

L7: Solve accounting problems with other business professionals.

Readings

We have worked with the textbook publisher to provide you with an instant access bundle to both an eBook and the accompanying WileyPLUS software, which you will use to access your problem sets assignments and final exam. The course's textbook is: Weygandt, J., Kimmel, P., & Kieso, D. (2020). Accounting Principles (14th ed.). USA: Wiley.

You can purchase the textbook and software bundle that are required for this course with your credit card when you access either WileyPLUS or the course text for the first time.

To purchase the text bundle now go to www.wileyplus.com (http://www.wileyplus.com/) . Once you purchase the eBook and WileyPLUS, you will be able to access specific activities as needed from within this course site.

Please note: you must purchase the bundle through this site, or else you will not have access to the specific tools and activities I will use for this course. This means I will not be able to give you credit for any of the practice activities or graded assignments. ***Please make this purchase immediately, so that you can begin your coursework.**

Assignments and Assessments

The weekly schedule describes the learning activities that will help you achieve the course outcomes and the assignments that will be used to measure your mastery of those outcomes. The objectives of27/09/2023, 20:07 this course will be met by incorporating a variety of instructional methods, including mini-lecture, group discussion, class session study circle activities, quizzes, and exams.

Group Discussions

Each module you will be required to participate in a group discussion forum. The discussion questions will either be closely aligned with the application and content of select issues from the readings and mini-lectures during the week, or they will be a synthesis and application of real world concepts we are learning. You should read each discussion question to carefully identify the relevant issues. Organize your response logically, present your arguments. Additionally, you should respond and provide feedback to the arguments presented by others. You will be graded on both your initial response to the discussion topic as well as your participation and responses to other students' posts, and I will be looking at the quality and originality of your post, your use of course content in your post, and the timeliness of your participation. More information about expectations is available in the discussion rubric.

Class Sessions and Study Circle Problems

Class Sessions will be held using the Zoom web-conferencing platform. These Class Sessions are mandatory. We will use the Class Sessions as an opportunity to discuss the content topics and apply the module's concepts. Sessions will provide you with a chance to ask questions of me and of other students. In addition, sessions will include group break-out times and end with Study Circle Problems. During the Study Circle Problem time, you will meet in small groups to apply course concepts in solving a complex problem. These sessions are an opportunity for you to collectively examine and solve problems, which is essential to your learning process. Students will be graded on their active participation and engagement in the class sessions.

For participation and attendance:

Online sessions require a reliable Internet connection and functioning webcam and microphone. Your webcam should remain turned on for the duration of each class, and you should expect to be present the entire time. Please avoid distractions and maintain professional etiquette. Note that it’s your responsibility to resolve any technical issues prior to class.


Graded WileyPLUS Problem Sets and Self Checks

You will be using the WileyPLUS website to demonstrate and prove your understanding of the course material. The WileyPLUS activities will be assigned on a bi-weekly basis, will have 3-4 problems depending on topics being discussed, and will be graded on accuracy.

Throughout the semester you are highly encouraged to complete the WileyPLUS Self Checks, as an optional/ungraded activity. These activities are simply intended to ensure your comprehension of the material.


Comparative Analysis Case Study

For the Comparative Analysis Case Study, you will apply the fundamentals of financial accounting you have learned throughout the semester to real-world scenarios. For this assignment, you will be assuming the role of a financial analyst and you will assess the financial statements of two companies in a given industry. You will be required to perform calculations and draw conclusions from the data you generate in a 3-5 page written report. Your written report will be evaluated on the accuracy related to the calculation of certain financial statement ratios, an in-depth analysis of those ratios, and the summarized conclusion on the ratios and findings.


Final Exam

The final examination will also be conducted via WileyPLUS. It will be a timed examination. The examination will be comprised of comprehensive problems. The problems are selected from various chapters covered in the entire course. The examination will look very similar to the WileyPlus Graded Problem sets. The examination is worth a total of 300 points and partial credit will be granted based on the work shown. (The time limit for this exam is 3 hours.)27/09/2023, 20:07


Grading



This course consists of a combination of lecture, class discussions, and problem solving. I will also provide you with supplementary practice problems and solutions that you can work through on your own should you like additional practice to master the material. It is important that you keep up with the

coursework. This type of class is cumulative in the learning material. Each week's new material builds on the prior week's.

I have selected the course breakdown based on the skills I would like each of you to have. Although the most critical skill is the problems solving (worth a total of 65%), it is also very important that you become comfortable with accounting terminology and how to communicate these concepts to other business professionals (15% for discussions).

The final grade will be calculated as described below:
GRADE CALCULATION

[List dates of each class meeting, final exam date: Topics and Activities; Readings should include page numbers and page counts. Viewings should include time; assignments, projects, exams and due dates on an easy-to-read course timeline. Consult the Program Director as to whether full citations or abbreviations will be included in the course calendar grid. Sample:]

Course Policies

Participation and Attendance

Regular participation and attendance in the course is a requirement and expectation of the course. The class sessions are worth 15% of your final grade. Attendance and participation in the class sessions is mandatory. In the event you are unable to attend a class session, you must contact the instructor in advance of the session to make alternate arrangements.

Assignment Due Dates

My academic philosophy is to provide each adult student with an opportunity to actively learn and demonstrate competencies needed in today's high-performance workplace. Opportunities will be made available for you to reach your maximum learning potential. Just as in the workplace, it is expected that you will complete all assignments and assessments by the due date.

Late Work

Assignments or projects turned in late will be subject to a 10% penalty per day. Late homework will only be accepted up to one week late. Final examinations will not be accepted late. If timely submission of an assignment is a challenge for you due to a legitimate reason, an advanced notice should be sent to me with the reason for the delay. Grading that assignment would be at my discretion.

School and University Policies and Resources

Copyright Policy

Please note—Due to copyright restrictions, online access to this material is limited to instructors and students currently registered for this course. Please be advised that by clicking the link to the electronic materials in this course, you have read and accept the following:


The copyright law of the United States (Title 17, United States Code) governs the making of photocopies or other reproductions of copyrighted materials. Under certain conditions specified in the law, libraries and archives are authorized to furnish a photocopy or other reproduction. One of these specified conditions is that the photocopy or reproduction is not to be "used for any purpose other than private study, scholarship, or research." If a user makes a request for, or later uses, a photocopy or reproduction for purposes in excess of "fair use," that user may be liable for copyright
infringement.


Academic Integrity

Columbia University expects its students to act with honesty and propriety at all times and to respect the rights of others. It is fundamental University policy that academic dishonesty in any guise or personal conduct of any sort that disrupts the life of the University or denigrates or endangers members of the University community is unacceptable and will be dealt with severely. It is essential to the academic integrity and vitality of this community that individuals do their own work and properly acknowledge the circumstances, ideas, sources, and assistance upon which that work is based. Academic honesty in class assignments and exams is expected of all students at all times.

SPS holds each member of its community responsible for understanding and abiding by the SPS Academic Integrity and Community Standards (https://sps.columbia.edu/students/student support/academic-integrity-community-standards) . You are required to read these standards within the first few days of class. Ignorance of the School's policy concerning academic dishonesty shall not be a defense in any disciplinary proceedings.

Diversity Statement

It is our intent that students from all diverse backgrounds and perspectives be well-served by this course, that students’ learning needs be addressed both in and out of class, and that the diversity that the students bring to this class be viewed as a resource, strength and benefit. It is our intent to present materials and activities that are respectful of diversity: gender identity, sexuality, disability, age, socioeconomic status, ethnicity, race, nationality, religion, and culture.

Accessibility

Columbia is committed to providing equal access to qualified students with documented disabilities. A student’s disability status and reasonable accommodations are individually determined based upon disability documentation and related information gathered through the intake process. For
more information regarding this service, please visit the University's Health Services website (https://health.columbia.edu/content/disability-services) .

Class Recordings

All or portions of the class may be recorded at the discretion of the Instructor to support your learning. At any point, the Instructor has the right to discontinue the recording if it is deemed to be obstructive to the learning process. If the recording is posted, it is confidential, and it is prohibited to share the recording outside of the class.

SPS Academic Resources

The Division of Student Affairs provides students with academic counseling and support services such as online tutoring and career coaching: Student Support Resources (https://sps.columbia.edu/students/student-support/student-support-resources) .

Columbia University Information Technology

Columbia University Information Technology (https://cuit.columbia.edu) (CUIT) provides Columbia University students, faculty and staff with central computing and communications services. Students, faculty and staff may access University-provided and discounted software downloads (https://columbiait.onthehub.com) .

Columbia University Library

Columbia's extensive library system (https://library.columbia.edu/) ranks in the top five academic libraries in the nation, with many of its services and resources available online.

The Writing Center

The Writing Center (https://www.college.columbia.edu/core/uwp/writing-center) provides writing support to undergraduate and graduate students through one-on-one consultations and workshops. They provide support at every stage of your writing, from brainstorming to final drafts. If you would like writing support, please visit the following site to learn about services offered and steps for scheduling an appointment. This resource is open to Columbia graduate students at no additional charge.

Career Design Lab

The Career Design Lab (https://careerdesignlab.sps.columbia.edu) supports current students and alumni with individualized career coaching including career assessment, resume & cover letter writing, agile internship job search strategy, personal branding, interview skills, career transitions, salary negotiations, and much more. Wherever you are in your career journey, the Career Design Lab team is here to support you.

Netiquette

Online sessions in this course will be offered through Zoom, accessible through Canvas. A reliable Internet connection and functioning webcam and microphone are required. It is your responsibility to resolve any known technical issues prior to class. Your webcam should remain turned on for the duration of each class, and you should expect to be present the entire time. Avoid distractions and maintain professional etiquette.

Please note: Instructors may use Canvas or Zoom analytics in evaluating your online participation.

More guidance can be found at The MERLOT Journal of Online Learning and Teaching (https://jolt.merlot.org/vol6no1/mintu-wimsatt_0310.htm) .

Netiquette is a way of defining professionalism for collaborations and communication that take place in online environments. Here are some student guidelines for this class:
  • Avoid using offensive language or language that is not appropriate for a professional setting.
  • Do not criticize or mock someone’s abilities or skills.
  • Communicate in a way that is clear, accurate and easy for others to understand.
  • Balance collegiality with academic honesty.
  • Keep an open-mind and be willing to express your opinion.
  • Reflect on your statements and how they might impact others.
  • Do not hesitate to ask for feedback.
  • When in doubt, always check with your instructor for clarification.

2023-10-07