Barney School of Business & Public Administration
MBA 612 (Formerly AC 610)
ACCOUNTING CONCEPTS

T 7:30-9:50                 63950
Auerbach 321             Fall 1997

Instructor: Tom Morrison

Office: Location: A406J Phone: 768-4577 FAX: 768-4398
email address:tmorrison@mail.hartford.edu
Department phone number: 768-4577

Office Hours: M & T 5:30-6:30, W: 3:30-4:30, or by appointment

______________________________________________________________________

Catalog Course Description: An intensive study of accounting principles, offered at the graduate level, for those with no previous background in accounting. It covers both financial and managerial accounting, and involves the collecting, reporting, and interpreting the financial data of a modern business using a management-oriented approach.

 

Course Objectives: To provide students with a basic understanding of how accounting information is developed and used. Topics to be covered include the principles, practices and uses of financial accounting by sole proprietorships, partnerships, and corporations, and basic managerial accounting concepts.

 

1. Identify the purpose and explain the types of information contained in the Balance Sheet, Income Statement, and Statement of Cash Flows.

 

2. Analyze information contained in the financial statements to identify favorable and unfavorable trends for real-life companies. Know the limitations of financial statement analysis.

 

3. Obtain a basic understanding of Generally Accepted Accounting Principles (GAAP).

 

4. Be able to analyze business transactions using the accounting equation, and be able to define assets, liabilities, and owner’s equity.

 

5. Understand the differences between financial and managerial accounting.

 

6. Understand the structure of traditional product cost systems and Activity-Based costing systems and how they differ. Be able to identify advantages and disadvantages of both.

 

7. Understand the Cost-Volume-Profit model and the role of variable, fixed, and activity costs in planning, control, and decision-making.

 

 

 

 

 

Required Texts: Principles of Accounting, 7th Edition, Hillman, Kochanek & Norgaard (Dame Publications, 1997).

 

OPTIONAL: Study Guide in 2 volumes.

Financial Accounting: A Management Perspective (2nd Edition, (Ivy Software, 1996) tel 1-800-342-5489.

 

 

 

Grading: Quiz on Chap. 1-3, 5 10 points

Midterm Exam 30 points

Final Examination 30 points

Cases, etc 30 points

Total 100 points

==

 

 

Academic Honesty Statement from The Source and Manual of Academic Policies and Procedures:

 

B. All students are expected to observe generally accepted principles of scholarly writing in all examinations, compositions, papers, essays, tests, quizzes, reports and dissertations whether written in the classroom or outside. Sources of information used by a student in the preparation of work submitted as a basis for credit, or for a grade, or to satisfy graduate or undergraduate thesis requirements shall be clearly indicated in some conventional manner, such as by the use of quotation marks, footnotes, and bibliography.

C. Students are forbidden to submit as their own any project, paper, or creative work which is in whole or part the work of another.

D. The use of a term paper writing service, such services being prohibited by Connecticut law, is academically dishonest and violate rules of scholarship.

E. All examinations and quizzes are to be completed without reference to books or notes, except when the instructor of a course shall have given explicit authorization for an "open-book examination" or some other specified sort of assistance. Except as authorized by the instructor, no student is to give or receive assistance in the completion of an examination or a quiz.

 

Action to be taken in event of an alleged act of academic dishonesty

L. 2. to report that the student is considered to be guilty of the alleged violation beyond a reasonable doubt, and to recommend one or more of the following:

 

(a) that the student be dropped from the course and/or a grade of "F" be assigned.

(b) that the student be suspended (i) for the remainder of the current semester, losing credit for their current academic program, or (ii) for the following semester or year;

(c) that the student be dismissed from the university.

CLASS PROCEDURES

 

A. Class sessions will be conducted using both lecture and problem solving formats. Please bring your text to class.

 

B. The attached course outline will be followed as closely as possible. Therefore, if you miss a class, you can expect the next assignment to be covered at the next class.

 

C. In the RARE event that you miss an examination, you MUST notify the instructor PRIOR to the scheduled examination time in order to qualify for a make-up examination. The instructor reserves the right to determine (1) if a make-up examination will be given, and (2) the time and location at which it will be given.

 

 

Topics Covered:
COURSE OVERVIEW

 

COURSE SCHEDULE AND ASSIGNMENTS

READING PROBLEMS ("A"unless

DATE     TOPIC CHAPTERS noted) & CASES*

Sept 9 FINANCIAL ACCOUNTING

Intro to Using Acctg Info (pp. 2-19)

An Accounting Information System 1 22,23,24,25,27

Emphasis on the Accounting equation,

not on journal entries with debits

and credits

 

Sept 16 Processing Business Transactions 2 32,33,34

 

Sept 23 Adjusting Entries 3 29,31,32

Acctg for a Merchandising Business 5 34B

(pp. 273-4, 288-90 only)

 

Sept 30 Quiz on Chap 1-3, and 5

Cash (only pp. 411-417 and 433) 8

Accounts Rec. and Bad Debt Expense 9 34,35B,BDC**

Short-Term Finance (Notes Rec & Pay) 10

 

Oct 7 Investments in Stocks and Bonds 18 25,26,27,30

Inventories and Cost of Goods Sold 11 29,32

 

Oct 14 Long-Term Assets 12 33,38,39,BDC,

Practice Set II

Financial Reporting Issues 13 19A&B,20

 

Oct 21 Corporations: Paid-In Capital 15 30,33

Added Stkhlders Equity Transactions

and Income Disclosures 16 28, BDC

 

Oct 28 Long-Term Liabilities 17 29,31

Statement of Cash Flows 19 18,19,20, BDC 2 & 3

 

Nov 4 Analysis & Interp of Financ'l Stmts 20 34,35

Business Consolid. & Internat'l 21 29, BDC

 

Nov 11 EXAM

 

 

 

Nov 18 MANAGERIAL ACCOUNTING

Introduction (pp. 1010-20)

Product Costing: Job Order 22 Practice Case

Nov 25 Activity-Based Costing (ABC) 24 21,22,23

JIT (pp. 1232-9 only) 27

 

Dec 2 Cost Behavior & Cost-Vol-Pft (CVP) 25 13,14,15

Budgeting for Planning and Control 26 18

 

 

Dec 9 Control of Decentralized Operations 28 27,29,31,32

Cost Info for Short-Run Nonroutine

Decisions 29 13,14,15,16

Dec 16 FINAL EXAM

 

* Additional problems and cases will be assigned in class.

** BDC = Business Decision and Communication Problem