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PLC Financial Reporting

Assignment Sheet and Study Guide

Spring 1995

Dr. Bruce S. Koch

Office: Business - Room 202C Hours: Tues 2:00 - 3:00Phone: 565-3083 Thur 2:00 - 4:30, 6:00 - 6:30

Open door office hours, please stop by anytime. If I am not in when you come by or call, please leave a message. I will get back to you as soon as possible.
John Goetz is assisting in the class. He is located in Business 228. His office hours will be announced. In addition to holding office hours, Mr. Goetz will be holding a required lab session for one hour a week. You are already enrolled in this lab. The time and location of the lab will be established the during the first week of class.

Course Objectives

The process of preparing and presenting financial information about the entity for use by those outside the entity is the subject matter of intermediate accounting. Continual changes in standards and rapid expansion of disclosure requirements make it difficult to comprehend the myriad of detailed reporting and disclosure rules. Fortunately there are fundamental concepts that underlie the existing financial reporting model.

In this course you will develop an understanding of the financial reporting process. The emphasis is on the commonalities of recognition, measurement, and disclosure rules. Specifically you will develop your skills in analyzing and explaining the economic activities of an entity. The focus is on fundamentals first and rules second. Basic concepts of recognition, valuation, and reporting illustrate the application of these concepts.

Americans with Disabilities Act

The College of Business Administration complies with the Americans with Disabilities Act in making reasonable accommodation for qualified students with disability. If you have an established disability as defined in this legislation and you would like to request accommodation, please see me as soon as possible. My office hours and office number are shown on this syllabus.

Academic Honesty

Academic honesty is expected and will be monitored. Any academic dishonesty will result in an automatic F and other sanctions as required by the university.

Grades

There is only one consistently successful method of learning the financial reporting process. You must combine study of the assigned reading material with practice gained by responding to problem and case assignments. You will work a combination of text problems, outside cases and short exercises. These will help you develop your skills in analyzing and explaining, orally and in writing, the economic activities of an entity. Your grade will be determined as follows:
Points
1.           Midterm Exam                25        

2.           Cases                       35        

3.           Class participation          5        

4.           Comprehensive Final         35        
             Exam                                  

             Total                      100
Textbook and Other Materials The basic text required for this class is:
  • 1. Intermediate Accounting, Chasteen, Flaherty and O'Connor, 5th edition.
  • 2. Student Study Guide, - optional
  • 3. Do not purchase working papers.
  • 4. Cases will be distributed.

    • Cases

    There are seven assigned cases that will be discussed in class this semester. You should hand in a short (no more than 2 pages, typed) case analysis for each of the cases. The cases should be well written. Cases containing either grammatical or spelling errors will be awarded no more that eighty percent (80%) of the assigned points. Cases are due at the beginning of class on the date the case is scheduled. The right to reproduce all cases has been received. The following cases and due dates are listed below:
  • 1. Case 89-2: Due January 31
  • 2. Case 93-5: Due February 9
  • 3. Case 94-9: Due February 14
  • 4. Case 90-1: Due March 2
  • 5. Case 92-10: Due March 28
  • 6. Case 94-5: Due April 11
    • 7. Case 90-5: Due April 18

    Important DatesLast date to drop without instructor permission Feb. 24Last date to drop with instructor permission Mar. 28Midterm exam Mar. 23Final exam May 9

    Assignments

    Date         Topic                  Chapter      Homework                

                                                                         

1/17         Introduction             1          E1-1,2                  

                                                 C1-16                   

                                                                         

1/19         Accounting Theory        2          E2-2,3,4,11,12,17       

                                                 C2-1,7                  

                                                                         

1/24         Accounting Process       3          E3-2,3,6,7,11,14,19     

                                                 P3-12                   

                                                                         

1/26         Income Statement         4          C4-4,5                  

                                                 E4-4,7,9,13,14,16       

                                                                         

1/31         Balance Sheet            5          C5-2,4                  

                                                 E5-2,10,15              

                                                 P5-1                    

                                                                         

2/2          Cash Flow Statement      6          C6-2,4                  

2/7                                              E6-1,2,4,6,7,11,12,14   

                                                 P6-6                    

                                                                         

2/9          Revenue Recognition      7          C7-6,C7-8               

2/14                                             E7-2,3,6,9,10,14        

                                                                         

2/14         Current Assets &         8          E8-3,4,5,6,7,8,9,11,13  
             Liabilities                                                 

2/16                                             14,16,18,20,22,23,27,32 
                                                 ,                       

2/21                                             33,35,36;               

                                                                         

2/21         Inventories              9          C9-6                    

2/23                                             E9-1,2,4,5,6,7,10,12,13 
                                                 ,                       

                                                 14,15,22;               

                                                 16,19,21;               

2/23         Inventories             10          C10-3                   

2/28                                             E10-3,6,9,10,12,14,15,  

                                                                         

3/2          Plant Assets and        11          C11-1                   
             Intang.                                                     

3/7                                              E11-1,3,5,9,10,11,13,15 
                                                 ,                       

                                                 18,19,20,21,22,23,25;   

                                                                         

3/7          Plant Assets and        12          C12-4,10                
             Intang.                                                     

3/9                                              E12-1,3,7,8,11,12,14,20 

                                                                         

3/14         Spring Break - No                                           
             Class                                                       

3/16                                                                     

3/21         Catch-up and Review                                         

                                                                         

3/23         Midterm Exam (Ch. 1 -                                       
             12)                                                         

                                                                         

3/28         Financial Instruments   13          E13-2,4,5,6,7,10,13,14, 

16,18;                                                                   

3/30         Bonds and Notes         14          C14-5                   

4/4                                              E14-1,2,3,5,6,7,9,10,   

                                                 12,13,16,17,20,25,26,27 
                                                 ;                       

                                                                         

4/4          Leases                 15           C15-8,9                 

4/6                                              E15-1,2,4,7,8,9,11,12,  

                                                 14,16,20                

                                                                         

4/11         Postretirement          16          C16-6                   
             Benefits                                                    

4/13                                             E16-1,2,4,6,7,8,9,11,12 
                                                 ,                       

                                                 16,18,21;               

                                                                         

4/13         Accounting for Income   17          C17-1                   
             Taxes                                                       

4/18                                             E17-1,2,3,4,6,8,14,17,  

                                                 18,19;                  

                                                                         

4/18         Stockholders' Equity    18          E18-1,3,4,5,6,78,9,12,  

4/20                                             15,17,19,21,24,27;      

                                                                         

4/20         Earnings per Share      20          C20-4                   

4/25                                             E20-3,6,7,8,9,10,12,14, 

                                                 18;                     

                                                                         

4/25         Cash Flows Revisited    21          E21-2,4,5,6,7,8,11,12,1 
                                                 4                       

4/27                                                                     

4/27         Accounting Changes      19          E19-2,4,5,6,8,10,13,15, 
             and Errors                                                  

5/2                                              16;
    5/4 Final Review5/9 Final Exam Dates, assigned exercises and problems are tentative and subject the change. Changes will be announced in class.
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