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FALL 2011

STUDENT COURSE INFORMATION SHEET


ACC110 - FINANCIAL ACCOUNTING FOR ACCOUNTING MAJORS
Prerequisite: None
Effective Immediately: If you expect to major in Accounting or Finance you are required to
take ACC 110 and ACC 410.
INSTRUCTOR INFORMATION:
LECTURE:
Brad MacMaster, BSc, MBA, CA, CMC
E-MAIL:
brad.macmaster@ryerson.ca
OFFICE:
TRS3-039
OFFICE HOURS: Tuesdays 10 11am and 3 4:30pm
BREAK-OUT:
E-MAIL:
OFFICE:
OFFICE HOURS:

Cheryl Dyson, CA
OR
cdyson@ryerson.ca
TRS2-133
Thursdays 1:15pm -1:45pm
Thursdays 6pm 6:30pm
Fridays 5pm to 7pm

Joel Shapiro, CA
shapiro@ryerson.ca
TRS2-121
Tuesdays 5:30pm - 7pm
Wednesdays 1pm - 2pm
Thursdays 10am - 11:30am
Thursdays 5:30pm - 6:30pm

FACULTY/COURSE WEBSITE: https://my.ryerson.ca


METHOD OF POSTING GRADES:
Students who wish not to have their grades posted must inform the instructor in writing
before the second week of classes. All grades except the final grade in the course will be posted
on Blackboard. All final grades will be provided by the registrars office, and will be available on
the internet at my.ryerson.ca (RAMSS). Grades will not be e-mailed or faxed.
E-MAIL ACCOUNTS:
Students are required to activate and maintain a Ryerson Matrix e-mail account. This shall be
the official means by which you will receive university communications. See
http://www.ryerson.ca/senate/policies/pol157.pdf.
Student emails will be returned within three academic days. Emails on the weekend will be
returned at the beginning of the week. All students are expected to use their Ryerson email
address for all communications with their instructors and to compose emails in a professional
manner.

COURSE DESCRIPTION:
Designed for Accounting and Finance Majors, this course will introduce you to the interesting
and challenging field of Financial Accounting. Financial Accounting is a language designed to
capture, summarize, and communicate the economic facts about an organization in a set of
financial statements and the related descriptive notes. The course will focus on the principles of
accounting and reporting to various users that are external to the organization. Accounting 110
will emphasize the decision-makers or users. You will learn what information is provided in
financial statements and the uses and limitations of this information to various decision-makers.
COURSE OVERVIEW:
This course will
present the students with a general overview of the role of accounting in society
ensure that the students can use accounting concepts and techniques to prepare and
effectively communicate financial information including relevant ethical issues
ensure that students can explain how the preparation and use of accounting information is
influenced by different users needs
demonstrate how to solve problems and critically evaluate accounting information using
a variety of different cases
provide the foundation necessary for further study in accounting
TEXTBOOK, REQUIRED CALCULATOR & I>CLICKER:
Textbook:
John Friedlan. Financial Accounting A Critical Approach, 3rd Canadian Edition. McGraw-Hill
Ryerson.
Hard covered text, available in the Ryerson bookstore
Required Calculator:
The Accounting Area has established that a specific calculator must be used for accounting test
and exams. At present one of the following is required and available in the Ryerson Bookstore:
Royal XE24, Royal XE36, or Royal XE 48.
i>clicker 2:
The Accounting Area has established that a specific clicker must be used for this accounting
course. An i>clicker 2 remote is required and is available in the Ryerson Bookstore. The ISBN
number for the i>clicker 2 is 1-4292-8047-6.
INTERNET:
Students will be required to use the internet for their homework assignments. Lecture notes and
other course information will be posted on Blackboard: https://my.ryerson.ca

COURSE OBJECTIVES:
On completion of the course, students will be able to:
1. prepare financial statements using acceptable standards and techniques that meet the
needs of various users in realistic business contexts.
2. demonstrate the importance of ethics and values when preparing and evaluating financial
accounting information.
3. analyze, interpret and communicate financial accounting information for business
decision making.

Practiced

Assessed

Taught

LEARNING OUTCOMES:

GRADUATE SKILLS
Effective communication (written)
Effective communication (oral)
Effective communication (interpersonal)

Information literacy
Problem solving

Critical evaluation

Work autonomously
Work in teams

x
x

Creativity and innovation


Ethical behaviour in social / professional / work environments

Responsible, effective citizenship

TEACHING METHODS:
This course will incorporate the following teaching/learning methods: lecture, class discussion,
clickers, group work and problem solving. Demonstration problems from the textbook will be
part of each class.

EVALUATION:
1. There will be 11 on-line homework assignments. Students will access the assignments on
the Lyryx website and their answers will be electronically graded. Ten out of the eleven
homework assignments will be included in the evaluation at one (1) mark each, totaling
10 marks. The homework window will be available for one week for each assignment.
Students can attempt the assignment as many times as they want within the week it is
available. The assignment will be available from 8 am on Tuesday 11 pm to Tuesday the
following week and will not be available afterwards. See Section Topics Sequence &
Schedule for the times during which these on-line homework assignments can be
completed. There will be no extensions or make-ups for these assignments.
Learning Objective: Demonstrate the importance of ethics and analyze and
interpret financial accounting information for business decision making.
2. One In-Class Quiz during the two hour break-out session will be held worth a total of 5
marks. The test will be 30 minutes in length and will consist of both theoretical and
technical questions.
Learning Objective: Provide further means by which the student can
demonstrate their knowledge and skills analyzing and interpreting financial
accounting information. Early feedback will be ensured since the quiz will be in
week 4.
3. Midterm #1 and Midterm #2 are each worth 15 marks. The midterms will be 1 and 1/2
hours in length in week 6 and week 10 respectively. Both midterms will consist of
approximately 40% theoretical and 60% technical questions.
Learning Objective: The students should be able to demonstrate their
application of the theory and techniques learned in chapters 1 to 4 for midterm
#1 and chapters 5 to 7 for midterm #2. They will analyze and interpret financial
accounting information.
4. I>clicker 2 participation is worth 5% of the students grade. Students will have the
opportunity to respond to multiple choice questions during every class using an
anonymous classroom response system. Although anonymous to the class, each clicker
has a unique signature so that marks will be assigned to the student's number as a result
of the registration process. Students must register their i>clicker 2 before the end of the
second week of classes. Note that responses are collected digitally by the classroom
response system and the resulting marks are non-negotiable. Clicker questions posed in
the first two weeks of classes are for practice only, and to help students get used to the
technology (none of the points generated during these two weeks are included in
determining the students' i>clicker mark). Clicker questions may be posed in any class
and at any time throughout each class. If you are late, or leave early, you may miss a
question and lose marks. A student will receive one point for each item to which they
respond. Students will also receive two bonus points for responding to all the
questions displayed during a given class (each student needs to answer at least 75% of the
questions in order to receive the two points). If you miss a class or forget to bring your
i>clicker, your mark for that class will be zero. The final clicker mark for a particular
student will be determined according to the following formula:
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[Clicker Mark, as a percentage] = 100 X

[ Total clicker points tallied for


that student's registered clicker]
[ Maximum clicker points available for
the semester based on all questions
posed by all instructors]

Learning Objective: Engage students as active participants in the learning


process, provide feedback on learning outcomes, promote discussion, and to
reveal misconceptions.
5. The final exam is worth 50% of the students grade.
Learning Objective: The final exam will assess (1) the students decision
making ability, communication and analytical skills and (2) the students ability
to apply the specific skills set to prepare and/or use financial statements
TABLE 1 EVALUATION COMPONENTS

The grade for this course is composed of the mark received for each of the following components:

Method
On-line homework
In-class quiz
Midterm test #1
Midterm test #2
I>clickers
Final exam
TOTAL

Percent/Weight
10
5
15
15
5
50
100%

Due Dates
See Topics-Sequence & Schedule Homework window
Week 4
Week 6
Week 10
Throughout the course
TBA

Students will receive the results of the quiz, two midterms tests and the final exam within
two weeks of writing. Results of the final grade will be provided by the registrars office
only.

TOPICS SEQUENCE & SCHEDULE ACC 110

WK

Week of

Sept 5th

Topics

One Hour Lecture

Chapter 1
The Accounting
Environment

Chapter 1
E1-3 (LO 2), E1-8
(LO 6)
Supplementary Info:
posted by Instructor

Sept
12th

Learning Objectives 1, 2,
3, 4, 5 & 6
Read page 1 to 23
Chapter 2
Financial Statements

Sept
19th

Learning Objectives 1, 2,
3, 4, 5
Read page 32 to 60
Chapter 3 Part 1
The Accounting Cycle

Sept
26th

Oct 3rd

Oct 10th
Test -on
Friday
Oct 14th
6:30pm

Chapter 3 Part 2
The Accounting Cycle

Go over course outline,


connect and lyryx
Chapter 1
P1-6 (LO 1,2), P1-9 (LO1,
2, 6) P1-13 (LO 6), P1-16
(LO 1,2, 3)
Chapter 2
E2-20 (LO 1, 4), P2-18
(LO 3,4)
CASE: P1-19 (p. 31 LO
2,3)

Lab 1 - Chapter 1
8am Tues Sept 6th
to 11 pm Tues
Sept 20th

Chapter 3, Part 1
E3-5 (LO 2, 5),

Chapter 3, Part 1
E3-8 (LO 2), E3-9 (LO 5),
E3-2 (LO 2, 5)
CASE: Kenaston
Convenience Store
(question posted on
blackboard, please
download/print a copy)
Chapter 3 Part 2
E3-16 (LO 2, 4,5)

Lab 2 - Chapter 2
8 am Tues Sept
13th to 11 pm Tues
Sept 20th

Chapter 3 Part 2
E3-1 (LO 4), E3-7
(LO 4)

Learning Objectives 4, 5,
6
Read page 112 to 119,
127 to 140

CASE: Sample Case 1


(question posted on
blackboard, please
download/print a copy)

QUIZ Chapters 1 to 3
(Chapter 3 Part I only)
During two hour breakout session
Chapter 4
Income Measurement
and the Objectives of
Financial Reporting

Example of Accounting
Cycle: Sundre Trucking
Inc. (P3-17, p. 158 to 160)

Learning Objectives 1, 2,
3,4, 5, 6 & 7
Read page 169 to 183
and page 187 to 208
MIDTERM TEST #1
Chapters 1 to 4
Note: There will be no
lecture or break-out
session during week 6.

Lyryx On-Line
Homework
Assignment
Window

Chapter 2
E2-1 (LO 2), E2-19
part a and b (LO 1)
E2-10 (LO 1, 3)

Learning Objectives 1, 2,
3, 5, 6
Read page 88 to 111, 119
to 126
4

Two Hour Break-out


Session

Chapter 4
E4-4 (LO 5, 6), E4-6
(LO 1, 2)

Chapter 4
E4-17 (LO 4), P4-2 (LO 1,
2, 3, 5, 6)
CASE: Pizzazz Pizza
Parlours Ltd. (pp. 202207)

Lab 3 - Chapter 3
Part 1
8 am Tues Sept
20th to 11pm Tues
Sept 27th

Lab 4 Chapter 3
Part 2
8 am Tues Sept
27th to 11 pm Tues
Oct 4th

Lab 5 - Chapter 4
8 am Tues Oct 4th
to 11 pm Tues Oct
11th

Oct 17th

Chapter 5
Cash Flow, Profitability
and the Cash Flow
Statement

Chapter 5
E5-6 (LO 3), E5-13
(LO 1, 3)

Chapter 5
E5-11 (LO 3), Cash Flow
Statement 1 - posted on
blackboard,
P5-12 (LO 1, 3)
CASE 6: Daphnes
Catering Ltd. (A-6 to A-7,
App.)

NO LAB

Chapter 6
E6-8 (LO 3), E6-16
(LO 3)

Chapter 6
E6-17 (LO 3), P6-6 (LO 3),
P6-2 (LO 1)
CASE: Anna Malover,
Veterinarian (P5-17,
pp287-288)

Lab 6 - Chapter 5
8 am Tues Oct
18th to 11 pm
Tues Oct 25th

Chapter 7
E7-4 (LO 3)

Chapter 7
E7-14 (LO 4), E7-20 (LO
2, 4)
E7-21 (LO 3, 4)
CASE: Discount Stores
Limited (question posted
on blackboard)

Lab 7 - Chapter 6
8 am Tues Oct
25th
11 pm Tues Nov
1st

Omit - Direct method


Learning Objectives 1,2,
3&4
Read page 233 to 270
8

Oct 24th

Oct 31st

Chapter 6
Cash and Receivables
Omit Time value of
money
Learning Objectives 1, 3
Read page 295 to 298
and page 306 to 316
Chapter 7
Inventory
Learning Objectives 1, 2,
3, 4, 5
Read page 354 to 377

10

Nov 7th

11

Test -on
Friday
Nov
11th
6:30pm
Nov 14th

MIDTERM TEST #2
Chapters 5 to 7
Note: There will be no
lecture or break-out
session during week 10.
Chapter 8
Capital Assets
Learning Objectives 1, 2,
3, 4, 5, 6
Read page 411 to 441

12

13

14

Nov
21st

Lab 8 Chapter 7
8 am Tues Nov 1st
11 pm Tues Nov
8th

Chapter 8
E8-6 (LO 2, 3, 6), E87 (LO 2, 3, 5)
E8-8 (LO 2, 3, 5),

Chapter 9
Liabilities
Learning Objectives 1, 2,
Read page 477-484

Chapter 9
E9-10 (LO 2)

Chapter 10
E10-2 (LO 2,3)

Nov
28th

Chapter 10
Owners Equity
Learning Objectives 1, 2,
3
Read page 556-574
REVIEW for Final
Exam

TBA

Final exam is
cumulative (covers all
content in the course)
Final Exam

Review some
technical concepts

Chapter 8
E8-4 (LO 2, 3, 5)
E8-17 (LO 2), P8-10 (LO
2, 3)
CASE 5: Champion
Hardware Limited. (p. A5 to A-6, App.)
Chapter 9
E9-9 (LO 2)
CASE 9: Good Quality
Auto Parts Limited (p. A10 to A-11, App.)

NO LAB

Lab 9 - Chapters
8
8 am Tues Nov
15th to 11 pm Tues
Nov 22nd

Chapter 10
E10-10 (LO 2, 3)
Cash Flow Statement 2 posted on blackboard
Sample Case 2 Posted on
blackboard

Lab 10 - Chapter
9 & Lab 11
Chapter 10
8 am Tues Nov
22nd to 11pm Tues
Nov 29th
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CRITICAL DATES:
The final date to drop the course is on Friday November 11th.
OTHER COURSE ISSUES:
Final Exam:
Students must pass the final examination to pass the course. For example if a student receives
a B on their term work, but receives less than 50% on the final examination, they will receive an
F in the course. The final grade is determined based on the addition of the passing grade for the
final exam and the grades for the term work, consisting of two midterms, one quiz, i>clicker
mark and the on-line homework assignments, weighted according to TABLE 1 on page Error:
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Student Solutions Manual:
On Blackboard students will have access to the following solutions:
odd-numbered exercises
odd-numbered problems for the Friedlan text.
In-Class Discussion Cases. Cases from the text will be assigned each week. The purpose of this
part of the course is to introduce you to accounting case analysis. This is a very important
component of our accounting program and the professional accounting qualification process. The
cases will be very challenging. Working on the case analysis will help you prepare for the case
questions on the midterm and final exams. The break-out instructor will provide guidance on
analyzing each weeks case in class.
LATE ASSIGNMENTS:
Students must complete the online assignments before the deadline. Failure to do so will
result in a zero grade. See Topics Sequence & Schedule for the scheduled times. There are
no exceptions or make-ups for missing the online assignments.
COURSE REPEATS:
Ryerson Senate GPA policy prevents students from taking a course more than three times (i.e.,
registered initially, repeated once, repeated twice = 3 registrations). If you fail a required course
for the third time, you will be assigned an academic standing of Withdrawn, and will be
ineligible to continue in your program.
VARIATIONS WITHIN THE COURSE:
Students are responsible for all content covered in the textbook as well as content discussed
during all scheduled classes.

GUIDELINES/PROCEDURES FOR MISSED TERM TEST or FINAL EXAM:


You must inform your break-out instructor of any situation which arises during the semester
which has an adverse effect on your academic performance and you must request any necessary
considerations for accommodations.
A doctors certificate is required to substantiate illness. See
http://www.ryerson.ca/senate/forms/medical.pdf for the required Ryerson medical form.
Religious Observance requests are to be made formally within the first two weeks of
class. See to http://www.ryerson.ca/senate/forms/relobservforminstr.pdf
If you miss a term test you must do the following:
Inform your break-out instructor by e-mail prior to the test.
Present the completed official Ryerson medical certificate to your break-out
instructor within three working days or no later than the next scheduled class.
Make-ups will cover similar material as the original but may be in a different format.
If you miss the scheduled midterm test and make-up test, the marks will be reweighted to the
final exam.
If you miss the final exam you must do the following:
Inform your break-out instructor by e-mail prior to the exam.
Within three business days of the final exam, please present the completed official
Ryerson medical certificate to your break-out instructor
If the medical documentation is approved and the instructor assigns an Incomplete (INC),
it is the students responsibility to arrange with the break-out instructor to write a makeup
exam at the first available opportunity.
INC Incomplete course work or a missed final examination due to documented medical
or compassionate grounds. An INC can be awarded only when the completion of the
outstanding work or an alternate final examination may result in a passing grade. The
outstanding work or alternate examination must be completed by a specified date within
three months of the submission of the INC. The INC will be replaced by an official
course grade when the work is completed. If the work is not completed by the deadline,
the INC will become a grade of F. The designation INC is not included in calculating the
GPA nor is it counted as a course credit or failed course.

POLICIES AND COURSE PRACTICES


Course Management
Every effort will be made to manage the course as stated. However, adjustments may be
necessary during the term at the discretion of the instructor. If so, students will be advised on
Blackboard, and alterations will be discussed prior to implementation.
Academic Integrity
Students are required to adhere to all relevant University policies, such as the Student Code
of Academic Conduct. University regulations concerning unacceptable academic conduct
(cheating, plagiarism, impersonation, etc.) will be followed. See the Ryerson University
calendar or online versions at http://www.ryerson.ca/senate/policies/pol60.pdf and
http://www.ryerson.ca/senate/policies/pol61.pdf and
http://www.ryerson.ca/senate/documents/studentrights.pdf for more explanation.
A Royal XE24, XE36 or XE48 calculator is the ONLY calculator allowed for accounting
quizzes, midterm tests and the exam. No cell phone / personal audio equipment or other
electronic device should be with you during tests or exams. Anyone found with a
calculator that is not a Royal Calculator OR with an electronic device on their person
during the midterms or final exam, will be charged with ACADEMIC MISCONDUCT
and will receive a mark of zero on the test or the exam.
If a student uses someone elses i>clicker for the purposes of recording responses during
class, both the student in possession of the i>clicker and the student that has registered
the i>clicker will be charged with ACADEMIC MISCONDUCT. In addition, both
students involved will receive a grade of zero for their i>clicker mark for the term.
Plagiarism is a serious academic offence and penalties range from zero in an assignment all
the way to expulsion from the university. Students should review the guidelines regarding
academic misconduct - visit the Academic Integrity website for more information
http://www.ryerson.ca/academicintegrity/ . They should ensure that they understand the
conventions for referencing sources, in footnotes and bibliographies. In addition to citing
quotations from all sources, whether from written materials, interviews or electronic
networks, students must credit with footnotes or in-text references all facts and ideas that are
not their own, EVEN IF THEY ARE IN YOUR OWN WORDS. If you do not, it is
considered plagiarism. In any academic exercise, plagiarism occurs when one offers as ones
own work the words, data, ideas, arguments, calculations, designs or productions of another
without appropriate attribution or when one allows ones work to be copied. (See the
Ryerson Library for APA style guide references:
http://www.ryerson.ca/library/subjects/style/apa.html)
It is assumed that all examinations and work submitted for evaluation and course credit will
be the product of individual effort, except in the case of team projects arranged for and
approved by the course instructor. Submitting the same work to more than one course,
without instructors approval, is also considered plagiarism.
Students who have committed academic misconduct will, at a minimum receive a 0 on the
work, and an instructor may assign an F in the course. The Academic Integrity Seminar
may also be assigned. Students will have the notation Disciplinary Notice (DN) placed on
their academic record and official transcript. The notation shall remain until the students
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graduate, or for eight (8) years, whichever comes first. If you receive this in the first half of
your program, you may undergo a petition process to have it removed in your last year.
Students who commit academic misconduct a second time shall be placed on Disciplinary
Suspension (DS) for up to two years, at which time they may apply for reinstatement to a
program. The designation DS shall be placed on their permanent academic record and
official transcript. The notation shall remain until students graduate, or for eight (8) years,
whichever comes first.
Disciplinary Withdrawn standing (DW) shall be permanently noted on students academic
records and official transcripts.
Expulsions shall be permanently noted on students academic records and official transcripts.
NOTE: Students may not drop a course when they have been notified of the suspicion of
academic misconduct. If a student attempts to drop the course, the Registrars office will reregister the student in that course until a decision is reached.
When an instructor has reason to suspect that an individual piece of work has been
plagiarized, the instructor shall be permitted to submit that work to any plagiarism detection
service.

CHEATING ON AN EXAM OR TEST: Ryersons Examination Policy requires that all


students have a valid student identification card or other photo identification on their desk at all
times when taking an examination. If it is suspected that someone is impersonating a student, the
photo identification of that person will be checked, and the person will be asked to sign the exam
paper for further verification. If it is suspected that the identification is not valid, students may be
asked to provide alternate photo identification. Security may be called, if circumstances warrant.
Accommodation of Students with Disabilities
In order to facilitate the academic success and access of students with disabilities, these
students should register with the Access Centre
http://www.ryerson.ca/studentservices/accesscentre/. They should also inform their
instructor through an Accommodation Form for Professors that they are registered with the
Access Centre and what accommodations are required.
Accommodation for Religious Observance:
Students must file the necessary forms for accommodation of religious observance at the
beginning of the term, or for final exams, as soon as the exam schedule is posted (see policy on
Accommodation of Student Religious Observance Obligations and related form). Please refer
to http://www.ryerson.ca/senate/forms/relobservforminstr.pdf .
Student Responsibilities in Academic Appeals
Students should read the Undergraduate Academic Consideration and Appeals policy at
(http://www.ryerson.ca/senate/policies/pol134%28b%29-Effective-Fall-2010.pdf)
It is the students responsibility to notify and consult with either the instructor, or the
Chair/Director of the teaching department/school, depending on the situation, as soon as
circumstances arise that are likely to affect academic performance. It is also the students
responsibility to attempt to resolve all course related issues with the instructor and then, if
necessary, with the Chair/Director of the teaching department/school as soon as they arise.
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An appeal may be filed only if the issue cannot be resolved appropriately. Failure to deal
with a situation as soon as it arises will jeopardize any appeal.
Students who believe that an assignment, test, or exam has not been appropriately graded
must review their concerns with their instructor within 10 working days of the date when the
graded work is returned to the class.

Standard for Written Work


Students are expected to use an acceptable standard of business communication for all
assignments. You are encouraged to obtain assistance from the Writing Centre
(http://www.ryerson.ca/writingcentre/) for help with your written communications as needed.
(See the Ryerson Library for APA style guide references:
http://www.ryerson.ca/library/subjects/style/apa.html)
Maintaining a Professional Learning Environment
Laptop computers, cell phones, or other devices may not be used for non-classroom activities
because such uses are distracting to other students, speakers and your instructor. Students who
do not comply with this aspect of professional behaviour may be asked to leave the classroom
immediately.
ACADEMIC GRADING POLICY:Evaluation of student performance will follow established
academic grading policy outlined in the Ryerson GPA Policy
http://www.ryerson.ca/acadcouncil/current/pol46.pdf. The grading system is summarized below:
Definition

Excellent

Good

Satisfactory

Letter Grade

Grade Point

Conversion Range

A+

4.33

90-100

4.00

85-89

A-

3.67

80-84

B+

3.33

77-79

3.00

73-76

B-

2.67

70-72

C+

2.33

67-69

2.00

63-66
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Marginal

Unsatisfactory

C-

1.67

60-62

D+

1.33

57-59

1.00

53-56

D-

0.67

50-52

0.00

0-49

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