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ACFI-100 FUNDAMENTALS OF FINANCIAL REPORTING

Syllabus Spring 2014


Tuesdays 1/28, 2/11, 2/25, 4/1, 5/6 6-8:40pm
Harrington Hall #206
Dr. Patricia Bancroft, CPA
email: pbancroft@bridgew.edu
Telephone (508) 531-2477
Office: Harrington Hall #103

Office Hours:
Mondays 2pm - 3pm
Tuesdays/Thursdays 1:45-3:15 pm
Tuesdays 5:30-6 pm 1/28; 2/11; 2/25; 4/1; 5/6

COURSE DESCRIPTION:
The course provides a general introduction to financial reporting issues. The topics covered will be an introduction to the basic
financial statements: Income Statement, Balance Sheet, and the Cash Statement. It will also cover Internal Control, Ratio
Analysis and the financial reporting of Accounts Receivable, Inventory, Long-term Assets, Liabilities, and Stockholders Equity

COURSE MATERIALS:
Required: Fundamental Financial Accounting Concepts, 8e, by Thomas Edmonds, Frances McNair, and
Philip Olds with Connect.
Connect, McGraw-Hill link: http://connect.mcgraw-hill.com/class/p_bancroft_acfi-x01_spring_2014
COURSE OBJECTIVES:
The purpose of this course is to introduce the student to principles of financial reporting essential to understanding how decisionmakers use accounting information. The primary objective is to help students learn how to prepare, analyze and interpret
accounting information.
OUTCOMES ASSESSMENT:
Students will:
Understand the role of accounting in society
Become familiar with concepts and principles associated with financial reporting
Acquire a basic understanding of the conceptual framework
Analyze business transactions
Identify assets, liabilities and owners equity accounts
Demonstrate the use of financial analysis techniques
Understand the Balance Sheet, Income Statement, Statement of Owners Equity and the Cash Flow Statement

STUDENT EVALUATION:
Exam #1
20 points
Exam #2
25 points
Final
20 points
Connect
10 points
Quizzes
15 points
Project
10 points
Total 100 points

92 - 100 A
90 - 91
A87 - 89
B+
83 - 86
B
80 82
B77 79

73 76 C
70 72 C 67 - 69 D+
63 66 D
60 62 DC+
Below 60 F

ASSIGNMENTS:
Exercises and problems will be assigned from each chapter and will be discussed in class as needed. It is HIGHLY
recommended that all of the exercises and problems on a weekly basis. Each student is responsible for completion of
and understanding these assignments. If you are having trouble in a specific area, please see me during my office hours
or email me for help.
CONNECT:
CONNECT assignments will be assigned with due dates. Be sure to complete the assignment by the due date to receive
credit as there will be no extensions. The 2 lowest Connect assignments will be dropped and not included in your
average.
ANNUAL STATEMENT PROJECT:
Each student will be required to obtain and analyze financial statements for Apple Inc for the year ending September 28,
2013. This project will be discussed in detail during class.

* There will be NO CREDIT given to projects handed in beyond the due date.
** Any assignment(s) handed in which has been prepared with another student(s) will result in an F for the course.
QUIZZES and EXAMS:
There will be 6 quizzes, two (2) exams plus a final cumulative exam during the semester. The highest 5 quizzes will be
averaged as the quiz grade.
** There will be no makeup quizzes or exams during the semester. Any student who misses a quiz will be assigned a 0
for that quiz. Any student who misses an exam will take a comprehensive final exam that will count for two exam
grades.
CLASS POLICIES:
Attendance at In Class Meetings is required. If you are not able to attend all of these meetings, you should not
take this course.
There will be no leaving class during a quiz or an exam for any reason without the consent of the Professor.
Students may use basic calculators during exams (programmable and graphic calculators are not allowed)
Cell phones are a distraction and not allowed in class at any time.

Schedule of Events
Date
1/28
2/4
2/11

2/18
2/25
3/4
3/11
3/18
3/25
4/1
4/8
4/15

Topics

Assignments

In Class Meeting
Chapter 1 An Introduction to Accounting
Cont. Ch. 1
Quiz #1 Types of Accounts and Financial Statements (Ch. 1)
Chapter 2 Accounting for Accruals and Deferrals
In Class Meeting
Cont. Ch. 2
Chapter 4 Accounting for Merchandising Businesses
Quiz #2 Journal Entries (Ch. 1)
Quiz #3 Adjusting Journal Entries (Ch. 2)
Cont.Chapter 4
In Class Meeting
Exam #1 (Chapters 1, 2, 4)
Chapter 5- Accounting for Inventories
Cont. Ch. 5
Chapter 6 Internal Control and Accounting for Cash
Spring Break

E1-1,8,9,11,12,13,15,19,22(a)
P1-30,31
Ex.2-1,2,3,4,5,6,7,8,11,14,15,16
P2-37

Quiz #4 Chapter 5
Chapter 7 Accounting For Receivables
Chapter 8 Accounting for Long Term Operational Assets
Quiz #5 Chapter 6
In Class Meeting
Exam #2 (Chapters 5,6,7,8)
Chapter 9 Accounting for Current Liabilities and Payroll
Chapter 10 Accounting for Long-Term Debt

E7-2,7,9,12
P7-19
E8-2,3,5,6,7,8,9,11,12

4/22

Chapter 11 Proprietorships, Partnerships, and Corporations


Quiz #6 - Chapter 10
Chapter 13 Financial Statement Analysis

4/29

Chapter 12 Statement of Cash Flows

5/6

In Class Meeting - Final Exam (Chapters 9,10,11,12,13)

Ex.4-1,2,3,4,5,6,10,12,18,19
P4-26

E5-1,2,3,4,5,12
P5-18
P6-18,19

E9-1,2,7,15
P9-21
E10-1,2,3,7,10,11,12,13
E11-3,4,5,15,17,18
E13-1,8,10,21
E12-8,10,11,17
Annual Report Project Due 4/29

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