ACC4030 Accounting Theory Course Outline Fall 2013

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1 University of Manitoba I.H. Asper School of Business Department of Accounting and Finance ACC4030 Accounting Theory Course Outline Fall 2013 Instructor: Debbie Mortimer, B. Comm. (Hons.), M. Acc., FCGA Fall 2013 Office: 366 Drake Phone #: Office Hours: Tuesdays, 4pm-6pm (until Nov 12) or by appointment Course Objective: The main objectives of this course are: - To describe and explore various theories that underlie financial accounting and reporting. - To explain and illustrate the relevance of these theories in order to understand the practice of financial accounting and reporting. - To critically examine the broader implications of financial accounting for the fair and efficient operation of our economy. - To give an understanding of the current financial accounting and reporting environment from the standpoint of the investor and the manager. - Increase awareness of how theories relate to, or contradict, real world events - Develop an interest in current events and issues facing the profession - Understand how scholarly research tests theories and can assist policy development research theory Real world: -events -current practice The skills and competencies you gain in this course will be essential for continuing on to a professional accounting designation. Text and Website Information: Financial Accounting Theory, William R. Scott. Prentice Hall Sixth Edition. Please note that while the text is the primary source of information for the course, class discussions are important. Thus, you are responsible for the text material and class discussions for examination purposes. The course will be set up D2L. Here you will find lecture notes, assignments, discussion groups, textbook solutions, and practice exams. Follow the instructions below to log on to D2L: 1. The Desire2Learn website address is: 2. Sign in using your University of Manitoba UMnetID. (If you do not have a UMnetID, go to the

2 Iridium website at: and click on Create UMnetID.) 3. From your Fall 2013 list of courses, click on ACC Grading: Course grade is based upon: 12% Group project article research, due December 3, 2013 (via or in class) 8% In Class Written Assignments/Discussion 1% each) 30% Midterm Exam, 2 hours Chapters 1-7, Thursday, November 7, 6pm-8pm 50% Final Exam, 3 hours Chapters 1-13 to be scheduled by the Registar s office For students who miss the midterm for legitimate reasons, the weight of the midterm exam will be allocated to the final examination (ie you will be writing an 80% final examination). Absence from exams due to illness requires a medical certificate. If you miss the midterm for non-legitimate reasons you will be given a score of 0 (zero). There will be NO DEFERRED MIDTERM exam privileges. Students who miss the final exam must apply to the Undergraduate Program Office in their faculty for possible deferred examination privileges. Any request for re-reads of term examinations and assignments must be made, in writing, within 10 working days of the class when it was returned. The date for voluntary withdrawal is November 13, Group Work: Group Project The purpose of this assignment is to encourage you to follow the business press throughout the term, and to apply concepts and theories discussed in the course to practical issues. In assigned groups of 3-4 people, you will be required to select ONE article from the business press. The article should be summarized (1/2 page) and then discussed in light of theories or concepts discussed in the course. For example, you may relate the article to theories which either confirm or contradict or expand upon the material in the article. The total length for the article review should not exceed 5 pages double-spaced. You need to also include a copy of your article as an appendix (not part of page count). Grading will be based on the following criteria: Originality of the article selected (Please notify me as soon as possible of the article you will be using. Articles will be allotted on a first come first served basis: groups using an article already selected by another group will be penalized.) Complexity and appropriateness of article/issue Identification of relevant theories Understanding of theory Appropriate application of theory to article Conclusions You may choose an article from any source that interests you note the library has many journals/magazines to choose from. Each group member will evaluate each other group member s performance. If all members contributed equally to the group project then each member should receive a contribution score of 100%. If one or

3 more members did not contribute fully he or she should be given a contribution score of less than 100% (minimum = 0%). Your individual grade will be equal to the grade assigned for the group project, multiplied by your individual average contribution score as determined by the other group members. Please submit your evaluation via by December 6. Note if you do not submit a group evaluation it will be assumed you are giving each member a 100% contribution score. In Class Written Assignments Starting September 19, you will be required to submit a written answer to a specific question, designed by the instructor. You will be given class time for this task. You will be allowed to discuss the question with your fellow students. Then you will form your own individual response for submission. These assignments are optional. If you choose not to submit an assignment, the weight of the assignment will be added to the final exam. Grading will be on a pass fail basis. The correct answer is not necessarily required to receive a pass. There are 10 assignments scheduled for 1 point each to a maximum of 8 points.

4 Tentative Course Schedule Date Topic Readings Sept 5 Course Outline N/A Sept 10 Introduction Chp. 1 Sept 12 Accounting Under Ideal Conditions Chp. 2 Sept 17 Accounting Under Ideal Conditions Chp. 2 Sept 19 Accounting Under Ideal Conditions Chp. 2 In class assignment chapter 2 Groups Assigned Sept 24 Decision Usefulness Approach to Financial Reporting Chp. 3 Sept 26 Decision Usefulness Approach to Financial Reporting Chp. 3 Oct 1 Decision Usefulness Approach to Financial Reporting Chp. 3 In class assignment chapter 3 Oct 3 Efficient Securities Markets Chp. 4 Oct 8 Efficient Securities Markets Chp. 4 In class assignment chapter 4 Oct 10 Information Perspective on Decision Usefulness Chp. 5 Oct 15 Information Perspective on Decision Usefulness Chp. 5 In class assignment chapter 5 Oct 17 Measurement Perspective on Decision Usefulness Chp. 6 Oct 22 Measurement Perspective on Decision Usefulness Chp. 6 In class assignment chapter 6 Oct 24 Measurement Perspective Applications Chp. 7 In class assignment chapter 7 Oct 29 Economic Consequences and Positive Accounting Theory Chp. 8 In class assignment chapter 8 Oct 31 Article Discussions posted on D2L Nov 5 Article Discussions posted on D2L Nov 7 Midterm Exam Chapters 1-7 6pm-8pm Nov 12 An Analysis of Conflict Chp. 9 Nov 14 An Analysis of Conflict Chp. 9 In class assignment chapter 9 Nov 19 Executive Compensation Chp. 10 Nov 21 Earnings Management Chp. 11 In class assignment chapter 10/11 Nov 26 Standard Setting Economic Issues Chp. 12 Nov 28 Standard Setting Economic Issues Chp. 12 In class assignment chapter 12 Dec 3 Standard Setting Political Consequences Chp. 13 Article project due (via or in class)

5 ACADEMIC INTEGRITY It is critical to the reputation of the I. H. Asper School of Business and of our degrees that everyone associated with our faculty behaves with the highest academic integrity. As the faculty that helps create business and government leaders, we have a special obligation to ensure that our ethical standards are beyond reproach. Any dishonesty in our academic transactions violates this trust. The University of Manitoba Undergraduate Calendar addresses the issue of academic dishonesty under the heading Plagiarism and Cheating. Specifically, acts of academic dishonesty include, but are not limited to: using the exact words of a published or unpublished author without quotation marks and without referencing the source of these words duplicating a table, graph or diagram, in whole or in part, without referencing the source paraphrasing the conceptual framework, research design, interpretation, or any other ideas of another person, whether written or verbal (e.g., personal communications, ideas from a verbal presentation) without referencing the source copying the answers of another student in any test, examination, or take-home assignment providing answers to another student in any test, examination, or take-home assignment taking any unauthorized materials into an examination or term test (crib notes) impersonating another student or allowing another person to impersonate oneself for the purpose of submitting academic work or writing any test or examination stealing or mutilating library materials accessing tests prior to the time and date of the sitting changing name or answer(s) on a test after that test has been graded and returned submitting the same paper or portions thereof for more than one assignment, without discussions with the instructors involved. Group Projects and Group Work Many courses in the I. H. Asper School of Business require group projects. Students should be aware that group projects are subject to the same rules regarding academic dishonesty. Because of the unique nature of group projects, all group members should exercise special care to insure that the group project does not violate the policy on Academic Integrity. Should a violation occur, group members are jointly accountable unless the violation can be attributed to a specific individual(s). Some courses, while not requiring group projects, encourage students to work together in groups (or at least do not prohibit it) before submitting individual assignments. Students are encouraged to discuss this issue as it relates to academic integrity with their instructor to avoid violating this policy. In the I. H. Asper School of Business, all suspected cases of academic dishonesty are passed to the Dean s office in order to ensure consistency of treatment.

6 UNIVERSITY OF MANITOBA Faculty of Management Medical Absenteeism Form Student Identification: (please print clearly) Last Name First Name Middle Initial U of M Student Identification Number I hereby authorize to verify with the attending physician or his/her (Name of Instructor/Administrator) staff or colleagues that the contents of this form are true. Student s Signature Date To be completed by the attending physician: (after the above section is completed) Physician s Last Name (please print clearly) Physician s First Name Middle Initial Street Address City, Province Postal Code Telephone Number Fax Number To the attention of the physician: Your evaluation of the student s condition is being used for the purpose of determining whether or not the student has a valid reason to miss an important exam or assignment. Your professional evaluation is necessary to ensure that only valid cases are excused. I certify that the nature of the student s condition is severe enough to prevent the student from taking an exam or completing an assignment. If requested, my associates or I will verify for the above-named instructor/administrator that this information is accurate. The student s condition will likely span the following dates: Physician s Signature (indicate start date) until (indicate end date) Date Notes to physician: Please make a note in the student/patient s file indicating that the student has given the above-named instructor/administrator permission to verify with you, your staff, or your colleagues, that the information contained on this form is correct. Thank you for your professional evaluation of this student s condition. PLEASE ATTACH THIS FORM TO YOUR REGULAR OFFICE STATIONERY THAT INDICATES THE STUDENT VISITED YOUR OFFICE. Note to student: The use of this form is at the option of the student. However, in order to obtain an excused absence for an assignment or exam, the student must obtain a doctor s certification that the student s condition is severe enough to prevent the student from taking the exam or completing the assignment. It is NOT SUFFICIENT to provide a note that only indicates the student visited the doctor s office.