ACC 1100 A03 (3 CH) INTRODUCTORY FINANCIAL ACCOUNTING

FALL 2020 Online, W 7.00 - 9.45 pm

CONTENTS CONTENTS ............................................................. 1

INSTRUCTOR ......................................................... 1

COURSE DESCRIPTION........................................... 1

COURSE OBJECTIVES ............................................. 2

COURSE MATERIALS .............................................. 2

COURSE FORMAT .................................................. 2

ASSESSMENT OF LEARNING .................................. 3

MISSED EXAM POLICY ........................................... 3

ASSIGNMENTS ....................................................... 3

ATTENDANCE POLICY ............................................ 4

OTHER LEARNING RESOURCES ............................. 4

IMPORTANT DATES AND DEADLINES .................... 5

COURSE SCHEDULE ............................................... 5

INTENDED LEARNING OUTCOMES ........................ 8

ACADEMIC INTEGRITY POLICY .............................. 9

PENALTIES FOR ACADEMIC DISHONESTY ........... 10

STUDENT SERVICES AND SUPPORTS ................... 11

INSTRUCTOR Name: Noha Ghattas Office: 362 Drake Centre Phone: 204-474-8271 Email: noha.ghattas@umanitoba.ca Office Hours: By appointment on WebEx COURSE DESCRIPTION This course is a study of accounting postulates underlying the preparation and presentation of financial statements (from Aurora Course Catalog). ACC 1100 is a required course in the Bachelor of Commerce curriculum because every businessperson should have knowledge of basic financial accounting principles and practices. Accounting is the language of business. If you do not understand its fundamental concepts, terms, principles, and tools, you will find it difficult to comprehend many of the situations and decisions you will face during your career in business, regardless of which field you ultimately pursue. The knowledge and skills you gain in this course will help you understand how this information is generated, measured, reported, and interpreted, so by its end, you will be fully conversant in the language of business.

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COURSE OBJECTIVES The overall objective of this course is to develop your knowledge of, and your ability to use, financial accounting information. At the conclusion of this course you will be expected to: 1. be able to interpret financial statements and derive information to support decision-making; 2. have an understanding of financial accounting concepts and the way concepts are applied in

preparing financial statements; 3. be aware of the existence of alternative accounting treatments and the need to exercise judgment

in deciding on the treatment appropriate in a specific situation; and 4. be able to prepare financial statements, including balance sheet, income statement, statement of

retained earnings and cash flow statement. COURSE MATERIALS Kimmel, Weygandt, Kieso, Trenholm, Irvine and Burnley, Financial Accounting-Tools for Business Decision-Making, published by Wiley (8th Canadian Edition). The package also contains a WileyPLUS card that you will need to register in WileyPLUS, on-line portal for accessing assignments and e-book. Do not throw the card away. The ISBN of Wiley looseleaf textbook (8th edition) + WileyPLUS card (online resource access, including e-book and assignments) is 9781119614289. Alternatively, the ISBN of WileyPLUS standalone card (online recourse access only) is 9781119614197. These are available for purchase at the Bookstore on Fort-Garry campus or online at www.umanitoba.ca/bookstore. Note that access to WileyPLUS will expire at end of the term, but students who VW or fail the course could apply to have free re-access to WileyPLUS. Please contact, Brittany Matthews (bmatthews@wiley.com), directly for the re-access. Registration site is: www.wileyplus.com/go/login andcourse section ID is A54022. Refer to WileyPLUS Registration Guide for details (available on UM Learn under Course Information folder). Please respect copyright laws. Photocopying textbooks or other reading material is a violation of copyright laws and is unethical, unless permission to copy has been obtained. COURSE FORMAT The course will be conducted principally via PowerPoint presentations and illustrated examples involving the application of accounting principles. Readings and after-chapter questions and exercises (see Course Schedule on pages 5-6) have been recommended for each topic covered in the course. The readings will be most effective if completed prior to going through the PowerPoint presentations. The recommended exercises listed in Course Schedule are not to be handed in. Students are encouraged to attempt the recommended exercises on their own and then check their work against solution sets that are available on UM Learn. Exams requires the use of the Respondus Lockdown browser. If you haven’t previously downloaded it, you will be required to do so before you start the exam. Make sure you are using a device on which you

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have the ability to download software. More detailed information will be available later in midterm exam information." ASSESSMENT OF LEARNING There will be five components to the grading:

Midterm Exam (Wednesday, October 28, 6:00PM-8:00PM, CST) 35 %

Final Exam (2 Hours, to be scheduled by Registrar’s Office) 45 %

WileyPLUS Assignments 20 %

The midterm examination will test all material covered on days 1 through 11, inclusive (see Appendix 1 for details). The final examination will test all material covered on days 1 through 23, inclusive. When all scores are in after the final exam, letter grades are then determined based on distribution. In the past, the weighted course average had mostly in high C or low C+ range. In the event of a skewed distribution of grades, the total course marks may be curved up or down as necessary (the weighting of each component will remain unchanged). Detailed midterm and final exam information will be available on UM Learn. When all scores are in after the final exam, letter grades are then determined based on distribution. In the event of a skewed distribution of final scores, the cutoffs of letter grades may be curved up or down as necessary. But the weighting of each letter grade component will remain unchanged. In the past, the course average had mostly in low C+ range. MISSED EXAM POLICY Students who miss the midterm examination for legitimate reasons (medical, compassionate, academic conflict or university sports team travel) should inform instructor with suitable documentation within 5 working days of the missed midterm examination to have the weight of the midterm examination added to the final examination (i.e., will write a 80% final examination).

Students who miss the final examination must apply to the Undergraduate Program Office (268 Drake, if you are an Asper student) in their faculty for possible deferred examination privileges. ASSIGNMENTS WileyPLUS is internet-based educational software which we have used to create assignments for ACC 1100. Ten assignments will be due at various dates throughout the semester as outlined in the table below. Each assignment is worth 2%, and a maximum of 20% are available.

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Assignment

Due by 11:59 PM, Central Time, on

Content

1 2 3 4 5 6 7 8 9

10

Friday, Sept. 25 Friday, Oct. 2 Friday, Oct. 9 Friday, Oct. 16 Friday, Oct. 23 Friday, Nov. 6 Friday, Nov. 20 Friday, Nov. 27 Friday, Dec. 4 Friday, Dec. 11

Accounting Information System and Cycle Adjusting Entries Ratio and Comparative Analysis Cash and Bank Account Receivables Inventory ad Cost of Goods Sold Long-lived Assets Investments and Liabilities Shareholders’ Equity Statement of Cash Flows

Students could earn a maximum of 2% (100% correction) course credit for each assignment submitted before the deadline. You have unlimited attempts for each assignment up to the due date and the best (not the last) attempt will be used for grading. I encourage you to do the assignments early and as many times as you find necessary. Keep in mind that WileyPLUS is an internet-based program. Problems with the Wiley website, your internet server or your computer are all possible and will not be considered valid reasons for missing a deadline. Late assignments will not be accepted. Instruction on how to register WileyPLUS is posted on UM Learn. ATTENDANCE POLICY

Attending the class is valuable to everyone and thus it is highly recommended. To maximize the benefit of attending the class, students are expected to complete the chapter readings before each class, especially for concepts and methods covered in the class notes. OTHER LEARNING RESOURCES Friday Course Labs ACC 1100 tutorial labs are scheduled on Fridays, from September 25 to December 11 (refer to Friday Lab Outline available on UM Learn for details). It is our experience that students who attend labs and lectures regularly receive substantial benefit and perform better on assignments and exams. Students are strongly recommended to attend labs and lectures. Other Learning Resources A number of other learning resources are available to students in ACC 1100, and we encourage you to use those that you find helpful. They include:

Recommended questions and exercises from the textbook (see course schedule on pages 5-6; solutions available on UM Learn)

Adaptive Practice and other study tools available in WileyPLUS

Sample examinations with solutions are available on UM Learn

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Asking Questions by E-mail E-mail can be a useful way of dealing with smaller issues. I respond to all e-mails and answer questions where practical. If the question is too complicated (e.g., Can you explain accounting to me?), I will ask you to come and see me in my office. Some more specific guidelines:

Use your university e-mail account to communicate with me. Effective September 1, 2013, the U of M will only use your university e-mail account for official communications, including messages from your instructors, department or faculty, academic advisors, and other administrative offices. Refer to this link for details: http://umanitoba.ca/registrar/e-mail_policy

Tell me who you are. Please give your full name and section when you write to me. IMPORTANT DATES AND DEADLINES

Dates and deadlines set by the University Administration can be found at the below link: http://umanitoba.ca/student/records/deadlines/index.html COURSE SCHEDULE

The assigned chapters DO NOT include the chapter appendices unless specifically noted. Recommended question and exercise are selected from end-of-chapter textbook and they are for self-practices. Solutions of end-of-chapter textbook practices are available in UM Learn course site. BE means Brief Exercises, E means Exercises, P means Problems, and A means Set A.

Day/Date Assigned Chapter Recommended Question & Exercise

1 / Sept. 9

Introduction Chapter 1 (Cover 1-1 to 1-8 and 1-13) The Accounting Information System Chapter 3 (Cover 3-1 to 3-22)

Question: 1-9. Exercise: E1.1, E1.2. Question: Ch3: 1, 2, 4, 5, 7; Ch4: 2-5. Exercise: BE3.1-3.8; E3.2, 3.4-3.6; P3.3A, 3.5A, 3.6A.

2 / Sept. 16

The Accounting Information System Chapter 3 (Cover 3-1 to 3-22) The Accounting Cycle Chapter 2 (Cover 2-1 to 2-10)

Question: Ch3: 1, 2, 4, 5, 7; Ch4: 2-5. Exercise: BE3.1-3.8; E3.2, 3.4-3.6; P3.3A, 3.5A, 3.6A.

3 / Sept. 23

The Accounting Cycle Chapter 3 (Cover 3-23 to 3-38) Chapter 4 (Cover 4-30 to 4-42) Chapter 5 (Cover 5-19)

Question: Ch2: 3-6; Ch3: 9, 11, 15, 17; Ch4: 2-5, 17-21. Exercise: E2.2-2.4; P2.2A-2.4A; BE3.12; E3.7, 3.8, 3.13, 3.14; P3.1A, 3.2A, 3.7A-3.9A; BE4.16, 4.17; E4.15-4.18.

Sept. 25 WileyPLUS Assignment #1 due by 11:59 PM, CST

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4 / Sept. 30 Adjusting Entry Chapter 4 (Cover 4-1 to 4-30)

Question: 6-13, 16. Exercise: BE4.1, 4.2, 4.4-4.10; E4.2, 4.3, 4.6-4.10, 4.12; P4.2A-4.6A, 4.9A-4.11A, 4.13A, 4.14A.

Oct. 2 WileyPLUS Assignment #2 due by 11:59 PM, CST

5 / Oct. 7 Ratio and Comparative Analysis Chapter 14 (Cover 14-1 to 14-33)

Question: 1, 2, 4, 8, 11, 14. Exercise: BE14.1-14.6; E14.1-14.3, 14.11.

Oct. 9 WileyPLUS Assignment #3 due by 11:59 PM, CST

6/ Oct. 14 Cash and Bank Account Chapter 7 (Cover 7-11 to 7-27)

Question: 18-22. Exercise: BE7.10, 7.11, 7.13; E7.6-7.9; P7.5A-7.8A.

Oct. 16 WileyPLUS Assignment #4 due by 11:59 PM, CST

7 / Oct. 21

Receivables Chapter 5 (Cover 5-13 to 5-18) Chapter 8 (Cover 8-1 to 8-3, 8-6 to 8-15, and 8-18-8-23) Inventory Chapter 5 (Cover 5-1 to 5-18

Question: Ch8: 4, 6, 7, 8, 9, 11, 12, 15. Exercise: BE5.6; E5.5; BE8.2, 8.3, 8.5-8.12; E8.2-8.5; P8.1A-8.5A.

Oct. 23 WileyPLUS Assignment #5 due by 11:59 PM, CST

Oct. 28 Midterm Exam (online), 6:00 PM - 8:00 PM through UM Learn

8 / Nov.4 Inventory Chapter 5 (Cover 5-24 to 5-33) Chapter 6 (Cover 6-1 to 6-29)

Question: Ch5: 3-5, 8, 10, 11, 14, 28, 29; Ch6: 8-10, 12-15, 17, 18, 24-29. Exercise: BE5.3, 5.5, 5.14, 5.18; E5.4, 5.15, 5.16; P5.2A, 5.3A, 5.13A, 5.14A; BE6.3-6.11, 6.13-6.15; E6.5-6.9, 6.13-6.17; P6.3A-6.5A, P6.7A, 6.13A-6.16A.

9/ Nov. 11 Long-lived Assets Chapter 9 (Cover 9-1 to 9-5, 9-7 to 9-14, 9-17 to 9-22, and 9-29 to 9-34)

Question: 4-6, 13, 14. Exercise: BE9.1-9.8, 9.10, 9.11; E9.1-9.4, 9.7, 9.8; P9.1A-9.7A.

Nov. 6 WileyPLUS Assignment #6 due by 11:59 PM, CST

10 / Nov. 18 Investments Chapter 12 (Cover 12-1 to 12-22, ignore amortized cost model)

Question: 1, 2, 9, 12-14, 20. Exercise: BE12.4-12.6, 12.9; E12.5-12.7, 12.9; P12.3A, 12.6A Req. a, b, d & f, 12.7A Req. 1 &2.

Nov. 20 WileyPLUS Assignment #7 due by 11:59 PM, CST

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11 /Nov. 25

Liabilities Chapter 10 (Cover 10-1 to 10-23) Shareholders’ Equity Chapter 5 (Cover 5-23)

Question: 1, 8, 10, 11, 15, 19. Exercise: BE10.4, 10.6, 10.9; E10.4, 10.5; P10.2A, 10.3A.

Nov. 27 WileyPLUS Assignment #8 due by 11:59 PM, CST

12/ Dec. 2 Shareholders’ Equity Chapter 11 (Cover 11-1 to 11-34)

Question: 10, 16, 18, 21, 22. Exercise: BE11.2, 11.3, 11.5-11.11; E11.2-11.10; P11.2A, 11.3A, 11.5A-11.7A.

Dec. 4 WileyPLUS Assignment #9 due by 11:59 PM, CST

13 / Dec. 9 Statement of Cash Flows Chapter 13 (Cover 13-1 to 13-38)

Question: 1, 3, 8, 23-26. Exercise: BE13.3-13.9, 13.12-13.16; E13.3-13.9, 13.12-13.15; P13.1A, 13.3A-13.7A, 13.10A, 13.12A.

Dec. 11 WileyPLUS Assignment #10 due by 11:59 PM, CST

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INTENDED LEARNING OUTCOMES

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 Objectives in the Undergraduate Program

Goals and Objectives Addressed

in this Course

Course Item(s) Relevant to these

Goals and Objectives

1 Quantitative Reasoning

A. Determine which quantitative analysis technique is appropriate for solving a specific problem.

Entire course

B. Use the appropriate quantitative method in a technically correct way to solve a business problem.

Entire course

C. Analyze quantitative output and arrive at a conclusion.

Entire course

2 Written Communication

A. Use correct English grammar and mechanics in their written work.

Term project

B. Communicate in a coherent and logical manner Term project

C. Present ideas in a clear and organized fashion. Term project

3 Ethical Thinking

A. Identify ethical issues in a problem or case situation Entire course

B. Identify the stakeholders in the situation. Entire course

C. Analyze the consequences of alternatives from an ethical standpoint.

Entire course

D. Discuss the ethical implications of the decision.

4 Core Business Knowledge Entire course

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ACADEMIC INTEGRITY POLICY It is critical to the reputation of the Asper School of Business and of our degrees that everyone associated with our faculty behave 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 General 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 test 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 Asper School of Business require group projects. Students should be aware that group projects are subject to the same rules regarding academic integrity. All group members should exercise special care to ensure 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 specific individuals.

Some courses, while not requiring group projects, encourage students to work together in groups before submitting individual assignments. If it’s unclear whether it is allowed, students are encouraged to seek clarification from the instructor to avoid violating the academic integrity policy. In the Asper School of Business, all suspected cases of academic dishonesty in undergraduate courses are reported to the Dean's office and follow the approved disciplinary process. See following table for typical penalties for academic dishonesty in the Asper School.

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PENALTIES FOR ACADEMIC DISHONESTY

If the student is from another Faculty and the academic dishonesty is committed in an Asper course, the student’s Faculty could match or add penalties beyond the Asper School’s.

F-DISC on transcript indicates the F is for disciplinary reasons.

ACADEMIC DISHONESTY PENALTY

Cheating on exam (copying from or providing answers to another student)

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Sharing exam questions electronically during exam

F-DISC in course Suspension from taking Asper courses for 2 years Notation of academic dishonesty in transcript

Possession of unauthorized material during exam (e.g., cheat notes)

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Altering answer on returned exam and asking for re-grading

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Plagiarism on assignment F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Submitting paper bought online F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Inappropriate Collaboration (collaborating with individuals not explicitly authorized by instructor)

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Group member had knowledge of inappropriate collaboration or plagiarism and played along

F-DISC in course Notation of academic dishonesty in transcript

Signing Attendance Sheet for classmate F-DISC in course Notation of academic dishonesty in transcript

Impersonation on exam Expelled from the University of Manitoba and reported to Winnipeg Police

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STUDENT SERVICES AND SUPPORTS

The University of Manitoba provides many different services that can enhance learning and provide support for a variety of academic and personal concerns. You are encouraged to visit the below websites to learn more about these services and supports. If you have any questions, please do not hesitate to contact your instructor or the Undergraduate Program Office.

For Information on… …follow this link

Tech-related issues with UM Learn or videoconferencing Information Services & Technology

Admission, Registration, Tuition Fees, Important Dates, Final Exams, Graduation, and Transcripts

Registrar’s Office

Academic policies & procedures, regulations, Faculty-specific information, degree and major requirements

Academic Calendar

Help with research needs such as books, journals, sources of data, how to cite, and writing

Library Resources

Tutors, workshops, and resources to help you improve your learning, writing, time management, and test-taking skills

Writing and Learning Support

Support and advocacy for students with disabilities to help them in their academic work and progress

Student Accessibility Services

Copyright-related questions and resources to help you avoid plagiarism or intellectual property violations

Copyright Office

Student discipline bylaws, policies and procedures on academic integrity and misconduct, appeal procedures

Academic Integrity

Policies & procedures with respect to student discipline or misconduct, including academic integrity violations

Student Discipline

Students’ rights & responsibilities, policies & procedures, and support services for academic or discipline concerns

Student Advocacy

Your rights and responsibilities as a student, in both academic and non-academic contexts

Your rights and responsibilities

Full range of medical services for any physical or mental health issues

University Health Service

Information on health topics, including physical/mental health, alcohol/substance use harms, and sexual assault

Health and Wellness

Any aspect of mental health, including anxiety, stress, depression, help with relationships or other life concerns, crisis services, and counselling.

Student Counselling Centre

Support services available for help regarding any aspect of student and campus life, especially safety issues

Student Support Case Management

Resources available on campus, for environmental, mental, physical, socio-cultural, and spiritual well-being

Live Well @ UofM

Help with any concerns of harassment, discrimination, or sexual assault

Respectful Work and Learning Environment

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Concerns involving violence or threats, protocols for reporting, and how the university addresses them

Violent or Threatening Behaviour