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ACC 556 Financial Accounting for Managers

COURSE DESCRIPTION
The course is designed with a focus on accounting to meet the needs of managers and stresses the
interpretation and uses of accounting information. The information presented in the course is designed for
a user of accounting information instead of preparer. Key concepts include financial statements and ratio
analysis, uses of accounting information for decision-making and planning and control within key
functional areas within an organization.

INSTRUCTIONAL MATERIALS
Required Resources
Kimmel, P. D., Weygandt, J. J., & Kieso, D .E. (2013). Financial accounting: Tools for business decision
making (7th ed.). Danvers, MA: John Wiley & Sons, Inc.
Kimmel, P. D., Weygandt, J. J., & Kieso, D .E. (2013). Accounting: Tools for business decision making
(5th ed.) (pp. 1080-1132). Danvers, MA: John Wiley & Sons, Inc. Note: Chapters from this textbook
are available in Blackboard.

Supplemental Resources
Hagel, J. (2014). How to better connect planning, forecasting, and budgeting. Retrieved from
http://www.journalofaccountancy.com/Issues/2014/Apr/forecasting-budgeting-cgma-magazine20149480.htm
McNeal, A. (2014).Whats your fraud IQ? Journal of Accountancy. Retrieved from
http://www.journalofaccountancy.com/Issues/2014/Aug/fraud-IQ-20149743.htm
Murphy, M. (2014). Enhancing financial reporting. The CPA Journal. Retrieved from
http://viewer.zmags.com/publication/73a0f1e9#/73a0f1e9/18
Nigrini, M., & Mueller, N. (2014). Lessons from an $8 million fraud. Journal of Accountancy. Retrieved
from http://www.journalofaccountancy.com/Issues/2014/Aug/fraud-20149862.htm
Tysiac, K. (2014). Revenue recognition: No time to wait. Journal of Accountancy. Retrieved from
http://www.journalofaccountancy.com/Issues/2014/Jul/revenue-recognition-20137809.htm

COURSE LEARNING OUTCOMES


1. Analyze and interpret financial statements.
2. Examine financial reporting considerations for receivables, long-term assets, and cash flows.
3. Examine the use of accounting information systems as a tool for interpreting and understanding
the nature of business processes in planning, decision making, and control.
4. Analyze merchandising and multi-step income statements.
5. Examine inventory as it relates to nancial statements.
6. Evaluate management control systems and examine their relationship with accounting and
planning, including feedback and non-nancial performance measurements.
7. Differentiate between capital and product markets and the importance of shareholder value.
8. Evaluate decision making tools for capital investments, budgeting, and budgeting controls.
2015 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information
and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of
Strayer University.
ACC 556 Student Version 1154 (1154 3-12-2015) Final
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ACC 556 Financial Accounting for Managers


9. Analyze financial accounting tools and techniques that convert financial accounting data into
information for decision making.
10. Use technology and information resources to research issues in financial accounting for
managers.
11. Write clearly and concisely about financial accounting for managers using proper writing
mechanics.

WEEKLY COURSE SCHEDULE


The standard requirement for a 4.5 credit hour course is for students to spend 13.5 hours in weekly work.
This includes preparation, activities, and evaluation regardless of delivery mode.
Week
1

Preparation, Activities, and Evaluation

Points

Preparation

Reading(s) in Financial Accounting: Tools for Business Decision


Making
o Chapter 1: Introduction to Financial Statements
o

Chapter 2: A Further Look at Financial Statements

e-Activity
o

Go to Apple Inc.s Website and review its most recent


financial statements on its Financial Information page,
located at http://investor.apple.com/financials.cfm. Be
prepared to discuss.

Activities

Discussion

20

Evaluation

Homework: Test Your Understanding Exercise, located in the course


shell.
o Chapter 1: Introduction to Financial Statements
o

Chapter 2: A Further Look at Financial Statements

29
24

Preparation

Reading(s) in Financial Accounting: Tools for Business Decision


Making
o Chapter 3: The Accounting Information System
o

Chapter 4: Accrual Accounting Concepts

e-Activity
o

Use the Internet and / or Strayer databases to research the


most common threats to a computerized accounting system.
Be prepared to discuss.

Activities

Discussion

20

Evaluation

Homework: Test Your Understanding Exercise, located in the course


shell.

29

2015 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information
and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of
Strayer University.
ACC 556 Student Version 1154 (1154 3-12-2015) Final
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ACC 556 Financial Accounting for Managers

Chapter 3: The Accounting Information System

Chapter 4: Accrual Accounting Concepts

29

Preparation

Reading(s) in Financial Accounting: Tools for Business Decision


Making
o Chapter 5: Merchandising Operations and the Multiple-Step
Income Statement
o Chapter 6: Reporting and Analyzing Inventory

Activities

Discussion

20

Evaluation

Homework: Test Your Understanding Exercise, located in the course


shell.
o Chapter 5: Merchandising Operations and the Multiple-Step
Income Statement
o Chapter 6: Reporting and Analyzing Inventory

29
29

Preparation

Reading(s) in Financial Accounting: Tools for Business Decision


Making
o Chapter 7: Fraud, Internal Control, and Cash

Activities

Discussion

20

Evaluation

Homework: Test Your Understanding Exercise, located in the course


shell.
o Chapter 7: Fraud, Internal Control, and Cash

33

Preparation

Reading(s) in Financial Accounting: Tools for Business Decision


Making
o Chapter 8: Reporting and Analyzing Receivables

Activities

Discussion

20

Evaluation

Homework: Test Your Understanding Exercise, located in the course


shell.
o Chapter 8: Reporting and Analyzing Receivables
Midterm Exam, Parts 1 and 2
o

28

Chapters 1 through 8

100

Preparation

Reading(s) in Financial Accounting: Tools for Business Decision


Making
o Chapter 9: Reporting and Analyzing Long-Lived Assets

2015 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information
and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of
Strayer University.
ACC 556 Student Version 1154 (1154 3-12-2015) Final
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ACC 556 Financial Accounting for Managers


Activities

Discussion

Evaluation

Assignment 1: Financial Analysis


Homework: Test Your Understanding Exercise, located in the course
shell.
o Chapter 9: Reporting and Analyzing Long-Lived Assets

20
160

29

Preparation

Reading(s) in Financial Accounting: Tools for Business Decision


Making
o Chapter 10: Reporting and Analyzing Liabilities
o

Chapter 11: Reporting and Analyzing Stockholders Equity

e-Activity
o

Use the Internet to research one (1) publicly traded company


in which you are interested. Locate the company Website
and focus on the types of bonds the company issues. Be
prepared to discuss.

Activities

Discussion

20

Evaluation

Homework: Test Your Understanding Exercise, located in the course


shell.
o Chapter 10: Reporting and Analyzing Liabilities
o

Chapter 11: Reporting and Analyzing Stockholders Equity

29
29

Preparation

Reading(s) in Accounting: Tools for Business Decision Making


(Note: these chapters are available in Blackboard)
o Chapter 21: Budgetary Planning
o

Chapter 22: Budgetary Control and Responsibility Accounting

Activities

Discussion

20

Evaluation

Homework: Test Your Understanding Exercise, located in the course


shell.
o Chapter 21: Budgetary Planning
o

Chapter 22: Budgetary Control and Responsibility Accounting

29
31

Preparation

Reading(s) in Financial Accounting: Tools for Business Decision


Making
o Chapter 12: Statement of Cash Flows

e-Activity
o

Use the Internet to research one (1) publicly traded company


in which you are interested. Review its most recent statement

2015 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information
and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of
Strayer University.
ACC 556 Student Version 1154 (1154 3-12-2015) Final
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ACC 556 Financial Accounting for Managers


of cash flows and income statement on the company
Website. Be prepared to discuss.
Activities

Discussion

20

Evaluation

10

Homework: Test Your Understanding Exercise, located in the course


shell.
o Chapter 12: Statement of Cash Flows

29

Preparation

Reading(s) in Financial Accounting: Tools for Business Decision


Making
o Chapter 13: Financial Analysis: The Big Picture

Activities

Discussion

20

Evaluation

11

Assignment 2: Budget Planning and Control


Homework: Test Your Understanding Exercise, located in the course
shell.
o Chapter 13: Financial Analysis: The Big Picture

160
29

Preparation

Reading(s): None

Activities

Discussion

20

Evaluation

Final Exam, Part 1 and Part 2


o

Chapters 9 through 13, 21, and 22

100

2015 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information
and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of
Strayer University.
ACC 556 Student Version 1154 (1154 3-12-2015) Final
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ACC 556 Financial Accounting for Managers


GRADING SCALE GRADUATE
Total Points

% of
Grade

Homework: Test Your Understanding Exercise


(15 chapters, 3 attempts per chapter, untimed)

435

37%

Midterm Exam: Chapters 1 8


Part 1: 25 questions worth 2 points apiece; 1 attempt, 3-hour time limit)
Part 2: 25 questions worth 2 points apiece; 1 attempt, 3-hour time limit)

100

9%

Final Exam: Chapters 9 13, 21, and 22


Part 1: 25 questions worth 2 points apiece; 1 attempt, 3-hour time limit)
Part 2: 25 questions worth 2 points apiece; 1 attempt, 3-hour time limit)

100

9%

Assignment 1: Financial Analysis (due in Week 6)

160

13%

Assignment 2: Budget Planning and Control (due in Week 10)

160

13%

Participation (11 discussions worth 20 points apiece)

220

19%

1,175

100%

Assignment

Totals
Points

Percentage

Grade

1,058 1,175

90% 100%

940 1,057

80% 89%

823 939

70% 79%

Below 823

Below 70%

2015 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information
and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of
Strayer University.
ACC 556 Student Version 1154 (1154 3-12-2015) Final
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