Accounting COURSE NUMBER: 22:010:577 COURSE TITLE: Accounting for Managers

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1 Accounting COURSE NUMBER: 22:010:577 COURSE TITLE: Accounting for Managers COURSE DESCRIPTION The class introduces students to the assumptions, principles, and practice of financial and managerial accounting. In financial accounting, the class presents a thorough analysis of the income statement, the balance sheet, and the statement of cash flow. The emphasis is on using financial statement information for equity valuation and risk analysis. The heavy reliance on estimates in constructing financial statements is also highlighted. In managerial accounting, the class discusses techniques for cost management, operational planning, and budgeting. COURSE MATERIALS Required (1) Textbook: Accounting: What the numbers mean, 9 th edition, Marshall, McManus, and Viele, Publisher: McGraw-Hill/Irwin, with Connect Homework System. (2) Calculator: A reliable calculator is needed for homework and exams. COURSE STRUCTURE The course consists of lectures and problem solving and is designed to help students develop an understanding of the major elements of accounting and their importance in the business world. A tentative course schedule including exam dates and assigned textbook readings is attached at the end of the syllabus. The course covers most of the material in the textbook. Students apply what they are learning by completing homework assignments and by discussing relevant real world events. COURSE EVALUATION The assessment policy for this course is specified in the following paragraphs. Please read it carefully. The course grade will be computed based on the following weights: (1) Exam 1: 30% of your final grade. (2) Exam 2: 30% of your final grade (3) Homework: 25% of your final grade. (4) Company project: 10% of your final grade. (5) Class Attendance and Participation: 5% of your final grade. Extra credit work is not available in the class. 1

2 (1) Examinations Exams consist of multiple choice problems and analytical problems. Exams will cover all assigned readings and problems as well as material covered and discussed in class. If you have a conflict with the scheduling of the exams, you must notify me at least one week prior to the exam date. The best way to prepare for the exams is to do the coursework and attend class. (2) Homework Homework will be assigned throughout the semester, and will consist primarily of end-ofchapter problems. Homework assignments will have to be completed online, using the McGraw-Hill s Connect System (see below). Late homework will not be accepted. (3) Company project Each student will select one company to follow throughout the semester. Each week, students will prepare brief reports using the company s 10-K report and other news sources that relate to the topic that is being discussed in class. (4) Attendance and Participation: I expect students to attend each class. I also expect students to come to class prepared, having read the assigned class material. I encourage students to actively participate in class discussions. COURSE WEBSITE Course announcements, lecture slides, and other relevant material will be available on the course website. Make sure you familiarize yourself with it at the beginning of the semester. It is available at: Username and password are your Rutgers University NetID and password. Instructions for system access are available at this same website. HOMEWORK WEBSITE Homework assignments must be completed online, using the McGraw-Hill s Connect system. The URL for the homework website is given below: Overview and Setting Expectations McGraw-Hill s Connect is a web-based assignment and assessment solution required for this course. Connect is designed to assist you with your coursework based on your needs. As outlined in this syllabus, assignments will make up a significant portion of your overall course grade. Access Connect access codes are packaged with a new textbook in the bookstore, at no additional cost. Connect can also be purchased online at our section s Connect web address: 2

3 If you purchase Connect online, you will have the option of purchasing Connect or ConnectPlus, which includes an interactive ebook to supplement the required textbook for this course. NOTE: You can register in Connect and have access without a code for a limited time period (typically three weeks). Registration To register in Connect, please visit and click Register Now. Support & Tips If you have any issues while registering or using Connect, please contact McGraw-Hill s CARE team through To avoid problems related to unexpected technical issues, you are advised not to wait until the last moment to complete assignments. OTHER IMPORTANT INFORMATION Cheating will result in automatic course failure and possible expulsion from the University. The University s has developed an academic integrity website that you should review carefully, at ( It is the student s responsibility of informing me of any disability directly or through LaToya Battle-Brown. Documents supporting requests for accommodations, the document review process, and the approval of accommodations must occur through the Disability Services office. I will work with students to provide necessary accommodations. 3

4 TENTATIVE COURSE SCHEDULE Date Ch. Topics/Reading 1/ / Accounting Past and Present Types of accounting History of accounting Conceptual framework of accounting Components of financial statements Accounting concepts, principles, constraints Interpreting Financial Statements Financial ratios Trend analysis 2/02 4 Bookkeeping Process and Transactional Analysis Basic accounting equation Effect of transactions on financial statements Adjusting entries 2/09 5 Accounting for Current Assets Cash and cash equivalents Short-term investments Accounts receivable and notes receivable Inventories Prepaid expenses and other current assets 2/16 6 Accounting for Property, Plant and Equipment, etc. Land, buildings, and equipment Leasing Intangibles and natural resources Time value of money 2/23 7 Accounting for Liabilities Current liabilities Long-term liabilities 3/ Exam 1 4

5 Date Ch. Topics/Reading 3/09 8 Accounting for Owners Equities Invested capital Retained earnings Comprehensive income Treasury stock 3/23 9 Income Statement and Statement of Cash Flows Computing net income or net loss Understanding cash flows 3/30 12 Managerial Accounting and CVP Analysis Comparing financial and managerial accounting Cost classifications Cost-volume-profit analysis 4/06 13 Cost Accounting and Reporting System Accumulating and assigning costs Job order costing, process costing, and hybrids Absorption costing v. direct costing Activity-based costing 4/13 14 Cost Analysis for Planning Classifying costs Budgeting Standard costs 4/20 16 Cost Analysis for Decision-Making Relevant costs and short-term decisions Capital budgeting and long-term decisions 4/ Exam 2 5