ACC4030 Accounting Theory Course Outline Fall 2017

Size: px

Start display at page:

Download "ACC4030 Accounting Theory Course Outline Fall 2017"

Morris Clarke
5 years ago
Views:

1 ACC4030 Accounting Theory Course Outline Fall 2017 Instructor: Ainsley Donald, B. Comm. (Hons.), CPA, CA Office: 378 Drake Phone #: Office Hours: 1:00pm-2:00pm Thursday 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 The skills and competencies you gain in this course will be essential for continuing on to a professional accounting designation

2 AACSB Assurance of Learning Goals and Objectives The Asper School of Business is proudly accredited by AACSB. Accreditation requires a process of continuous improvement of the School and our students. Part of student improvement is ensuring that students graduate with the knowledge and skills they need to succeed in their careers. To do so, the Asper School has set the learning goals and objectives listed below for the Undergraduate Program. The checked goal(s) and objective(s) will be addressed in this course and done so by means of the items listed next to the checkmark. Goals and Objective in the Undergraduate Program 1 Quantitative Reasoning A. Determine which quantitative analysis technique is appropriate for solving a specific problem. B. Use the appropriate quantitative method in a technically correct way to solve a business problem. C. Analyze quantitative output and arrive at a conclusion. 2 Written Communication A. Use correct English grammar and mechanics in their written work B. Communicate in a coherent and logical manner C. Present ideas in a clear and organized fashion. Goals and Objectives Addressed in this Course Course Item(s) Relevant to these Goals and Objectives Identify type of question (notably, present value accounting (Chp 2), decision making (Chp 3), and incentive compensation (Chp 9)) Quantitative analysis in assignments Application of present value accounting (Chp 2), decision theory (Chp 3), and utility functions (Chp 3 & 9) Quantitative analysis in assignments Interpretation of actual stock prices to theoretical stock prices (Chp 4), and decisions based on utility function results (Chp 3 & 9) Quantitative analysis in assignments (notably Group Project) (notably Group Project) (notably Group Project) 3 Ethical Thinking A. Identify ethical issues in a problem or case situation B. Identify the stakeholders in the situation. Identify motivations for various management, investor and regulator decisions (Chp 4-13) Identification of stakeholders in capital and labour markets (Chp 4-13)

3 C. Analyze the consequences of alternatives from an ethical standpoint. D. Discuss the ethical implications of the decision. 4 Core Business Knowledge Entire course Evaluation of consequences to capital and labour markets of various management, investor and regulator decisions (Chp 4-13) Discuss impacts to capital and labour markets of various management, investor and regulator decisions (Chp 4-13) Text and Website Information: Financial Accounting Theory, William R. Scott. Prentice Hall Seventh Edition. ISBN: 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 UM Learn. Follow the instructions below to log on to UM Learn: 1. The UM Learn website address is: 2. Sign in using your University of Manitoba UMnetID. (If you do not have a UMnetID, go to the Iridium website at: and click on Create UMnetID.) 3. From your list of courses, click on ACC-4030.

4 Grading: Course grade is based upon: 12% Group project article research, due Tuesday, December 5, 2017 (via drop box in UM Learn) 8% In Class Written Assignments/Discussion 1% each) 30% Midterm Exam, 2.5 hours Chapters 1-7, TBD 50% Final Exam, 3 hours Chapters 1-13 to be scheduled by the Registrar 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. Final grades are based on the student s weighted mark and performance relative to other students. The following are the tentative grade cut-offs: Cumulative Marks Grade GPA A A B B C C D 1.0 Below 50 F 0.0 These tentative cut-offs are subject to adjustment up or down depending on the relative performance of the current class compared to prior classes.

5 Group Work: Article Project The purpose of this assignment is to apply concepts and theories discussed in the course to practical issues. In assigned groups of 4-5 people, you will be required to select ONE article from a predetermined list of articles chosen by the instructor. The article should be 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 doublespaced, minimum 11 point font. Grading will be based on the following criteria: Identification of relevant theories Understanding of theory Appropriate application of theory to article Conclusions Submission of the project should be done via the UM Learn drop box function. Please submit one file per group. Each group member will have an option to evaluate each other group member s performance. If one or 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 UM Learn dropbox by December 8. 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 21, 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.

6 Tentative Course Schedule Date Topic Readings September 7 Course Outline and Introduction Chapter 1 September 12 Introduction Chapter 1 September 14 Accounting Under Ideal Conditions Chapter 2 September 19 Accounting Under Ideal Conditions Chapter 2 September 21 Accounting Under Ideal Conditions Chapter 2 In class assignment chapter 2 September 26 Decision Usefulness Approach to Financial Reporting Chapter 3 September 28 Decision Usefulness Approach to Financial Reporting Chapter 3 In class assignment chapter 3 October 3 Efficient Securities Markets Chapter 4 October 5 6 October 10 No Classes Fall Term Break Efficient Securities Markets Groups assigned In class assignment chapter 4 Chapter 4 October 12 Value Relevance of Accounting Information Chapter 5 October 17 Value Relevance of Accounting Information Chapter 5 In class assignment chapter 5 October 19 Measurement Perspective on Decision Usefulness Chapter 6 October 24 Measurement Perspective on Decision Usefulness Chapter 6 In class assignment chapter 6 October 26 Measurement Perspective Applications In class assignment chapter 7 Articles for Group Project Posted to UMLearn Chapter 7 October 31 The Efficient Contracting Approach of Decision Usefulness In class assignment chapter 8 Chapter 8 November 2 TBA November 7 An Analysis of Conflict Chapter 9 November 9 An Analysis of Conflict Chapter 9 In class assignment chapter 9 November 14 Executive Compensation Chapter 10 November 16 Earnings Management Chapter 11 In class assignment chapter 10/11 November 21 Standard Setting Economic Issues Chapter 12 November 23 Standard Setting Economic Issues Chapter 12 In class assignment chapter 12 November 28 Standard Setting Political Consequences Chapter 13 November 30 Standard Setting Political Consequences Chapter 13 December 5 Review and Article Project Due by 7pm December 7 TBA Group Evaluation due by 7pm December Final Exam to be scheduled by Registrar s Office

7 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.

SYLLABUS. EC 322 Intermediate Macroeconomics Fall 2012

SYLLABUS. EC 322 Intermediate Macroeconomics Fall 2012 SYLLABUS EC 322 Intermediate Macroeconomics Fall 2012 Location: Online Instructor: Christopher Westley Office: 112A Merrill Phone: 782-5392 Office hours: Tues and Thur, 12:30-2:30, Thur 4:00-5:00, or by