SILBERMAN COLLEGE OF BUSINESS ADMINISTRATION

INTRODUCTION TO FINANCIAL ACCOUNTING: ACCT 2021 V1

SPRING 2020 SYLLABUS

Instructor’s Course ACCT 2021

Tao Liu
Name Intro to Financial Accounting

Email tliu@fdu.edu Room No. 130

Phone 778-776-8282 Meeting Times Mondays & Wednesdays

10:30am – 11:50am

Office Hours By appointment Website webcampus

Room No. Adjunct area

COURSE DESCRIPTION
ACCT 2021 covers the basic concepts and standards underlying financial accounting and reporting,
culminating in the preparation of financial statements. By the end of this course, you will be able to record
accounting business transactions for a service or merchandising company, adjust the company’s trial balance
and prepare basic financial statements. The course will expose the student to the interpretation of financial
statements through basic ratio analysis.

RELATION TO COLLEGE MISSION

The mission of the Silberman College of Business at Fairleigh Dickinson University is to be a center of learning
committed to the education of tomorrow's leaders today, to prepare our students to succeed in a global
environment, and to advance the understanding of business.

AACSB Accreditation
Currently, the Silberman College of Business is one of just 5% of business schools in the world that are
accredited by the AACSB. Achieving accreditation signals to students, employers and recruiters that the
college is committed to quality education and strives for continuous improvement.
To maintain accreditation we need student participation. Specifically, in some classes this semester you may
be asked to upload a class assignment for AACSB purposes through Webcampus. In some classes, you may
have the oral presentation recorded. We appreciate your cooperation in maintaining our important
accreditation.

COURSE OBJECTIVES
• Demonstrate a basic understanding of the underlying concepts involved in accrual- based accounting in
Canada, and the preparation of financial statements
• Read, interpret and analyze financial statements
• Review current accounting standards and apply them to business cases
• Recognize potential ethical conflicts which may arise in the recording and reporting of financial
information
• Present solutions to problems and cases in written and verbal form

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COURSE TOPICS
1. Overview of financial reporting
2. Recording business transactions
3. Accrual Accounting and the Financial Statements
4. Accounting for Cash and Receivables
5. Accounting for Inventory and Cost of Goods Sold
6. Property, Plant and Equipment, Intangible assets
7. Long-Term Investments
8. Accounting for Liabilities
9. Shareholders’ Equity
10. Cash flows and the Cash Flow Statement
11. Financial Statement Analysis

REQUIRED TEXTBOOK
Fundamental Accounting Principles, Vol 1 and Vol 2, 16th Canadian Edition, by Kermit D. Larson and Heidi
Dieckmann, Published 2019, McGraw-Hill
ISBN: 1259654656 / 9781259654657
Available via McGraw-Hill Connect

ADDITIONAL READING MATERIALS:

Additional reading materials, recommended web links and Project Guidelines, etc. will be advised in class and
posted on WebCampus.

OPPORTUNITIES TO ENCOURAGE STUDENT LEARNING:

At every stage of learning in this course, reflect on the following:
How much and to what extent through my own efforts and through listening to others in the class –
• Did I understand the principles, practices and contemporary issues in Accounting?
• Did I develop the skills to analyze data, to think beyond, and apply the concepts to different scenarios?
• Did I apply correctly the concepts and knowledge I gained in class to my assignments/project?

CLASS ATTENDANCE POLICY

Students are expected to be punctual and attend all classes. The pace and amount of material in the course
combined with the classroom activities are vital to the learning experience. In the case of absence, you are
responsible for the material covered and to turn in any required assignments on time.
Attendance will be taken at each class. If you are more than ten minutes late to class or leave early (without an
approved excuse) you will be counted absent. Arriving to class late or leaving during a class (except in
extenuating circumstances and after informing the professor) is rude to the instructor and your fellow
students and disruptive of the learning environment. Participation marks will be deducted accordingly.
Similarly, just attending class without participating and non-compliance with basic expectations of classroom
behaviour (such as browsing the web, using Facebook/social media, and texting in class) can result in a zero
or low overall participation grade, even if your contribution to class discussion is great.

GRADING POLICY

Participation 10%

Homework 15%

Project Assignment 15%

MT Exams 30%

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 Final Exam 30%

CLASS PARTICIPATION (10%)

MID-TERM EXAM (30%) / FINAL EXAM (30%)

Exams will cover assigned readings, lectures, class discussion and will include material from all topics covered
up until the class session just before the test. A number of in-class quizzes during the term will facilitate
preparation for the exams (see course schedule).
Do not wait until the night before the exam to study!
After your mid term exam is graded, it will be handed back to you for review in a class session. You CANNOT
take this exam home.
Missing an exam: The general policy is that no make up exams will be permitted. However, should illness or
another approved excuse prohibit you from attending the Mid-Term Exam at the scheduled time, then the
following procedures will apply:
- You will contact me via email (if not in advance of the exam, then within 48 hours following the
scheduled exam time) to explain the reason for your absence and to request a makeup exam.
- Failure to do so will result in a request for a deferred exam being declined and a grade of zero being
awarded for that exam. This is the only time a makeup test can be taken. The makeup exam will be
different to the one distributed at the scheduled exam time.
Vacations, birthdays, functions and similar events (including other class assignments and exams) are not
considered unforeseeable excusable absences.

GROUP PROJECT:

Note:
 All written assignments should meet the criteria of Standard English grammar.
 All written assignments must be submitted at the beginning of class on the day they are due, both in hard
copy and electronically via the designated webcampus module.
 A hard copy of the final group report (Marketing Plan) is due at the beginning of the oral presentation at the
scheduled final exam session.
 The course ends at the final exam - final reports will not be accepted after the final exam date.
 Assignments and reports will be delivered in person, not by email or by third parties.
 Extra credit assignments are not employed for this course.
 Additional guidelines for completion of all written/oral assignments will be posted on Webcampus before
the assignment is due.

GROUP WORK
The purpose of group assignments is to give you an opportunity to share ideas and learn from your peers in a
more interactive fashion than is normally possible in the classroom.
The group assignment for this course relies on integrative thinking to successfully conceptualize the new
product idea, develop an appropriate strategy, and translate that strategy into a coherent marketing plan,
applying tools learnt during the course. As such, I expect you to complete each stage of the assignment as a
group, rather than dividing the assignment into parts for individual completion. Groups who use the latter
approach tend to produce disjointed work that receives much lower grades.
Because you are expected to work together on group assignments, all group members will be deemed jointly
and individually responsible for any infractions of academic integrity. Hence, if one group member plagiarizes
or fails to cite sources, all members of the group will receive the same penalty. I will not entertain appeals that
you did not personally complete the offending portion of the assignment.

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 FINAL GRADES WILL BE DETERMINED BY THE FOLLOWING:
Score Grade
93% and above A
90-92.9% A-
87-89.9% B+
83-86.9% B
80-82.9% B-
77-79.9% C+
73-76.9% C
70-72.9% C-
60-69.9% D
Below 60% F
Incomplete (I) can be awarded in special
cases. University policy must be followed.

*Students may drop/add courses up to this date with no withdrawal showing on their transcript.  However, a
financial penalty for dropping a class will apply after the first week of a new term in accordance with
established withdrawal penalties.

* This syllabus is subject to change. Changes will be made based on our class experiences. You
will be informed sufficiently in advance about any relevant changes.
** Grades for late assignments are reduced by 10 points per day after the due date. A hard copy of the Final
Report is due at the beginning of the oral presentation and will not be accepted after the day of the final exam
scheduled by FDU.

WITHDRAWALS
In the event you choose to withdraw from our course, the burden of following through with the withdrawal
process is your responsibility. You may or may not be dropped for excessive absences. However, failure to
attend does not guarantee being dropped. Please understand that if you do not officially withdraw before the
end of November 4, 2019, you will be assigned a grade based upon what you have earned. This may be
anything from A (unlikely) to F. Please refer to the College Catalogue for more detail. If you believe you MUST
withdraw for any reason, PLEASE consult with me first! Perhaps we can find a way to help you complete our
course successfully.

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GENERAL CLASS POLICIES
1. Please turn all cell phones and smartphones to silent mode, and do not attend to text messages or
phone calls during class! Turn off all iPods, other MP3 players, Google watches, etc.
2. Courtesy, kindness, and respect are great human qualities to be cultivated.
3. It is expected that all students will participate fully during class.
4. Prior reading of assigned material will facilitate class discussion and participation (see above).
5. Eating and drinking in class is discouraged.

SPECIFIC CLASS POLICIES

 ATTENDANCE POLICY
Students are expected to attend all classes, both because of the pace and amount of material in the course,
and also because of the classroom interaction and activities which are vital to the structure of the course.
In the case of absence, you are responsible for the material covered and to turn in any required
assignments on time.
Problems in coming to class should be discussed with the instructor, when possible, before the class is
missed. Missed classes without prior communication with the instructor will result in loss of participation
points. You may be dropped for excessive absences, and absences may contravene the stipulations of
visas for international students.
Makeup quizzes/exams will only be given for valid reasons (illness, emergency, etc.) and with proper
documentation. Unexcused absences may result in a loss of grades and may contravene the terms of
visas for international students.
 LATENESS
Arriving late for class will lower your participation score.
 TIME DEADLINES
Exams, assignments, and homework all have pre-scheduled due dates. On occasion, it may be necessary to
alter these dates because of our progress during the semester. You will always be given advance notice of
such changes.
 INCOMPLETES IN THE COURSE
An "incomplete" grade will not be given unless the student has a legitimate personal crisis that prevents
finishing the course on time. Students receiving an incomplete must be doing passing work up to that
point. If such an occurrence happens, it is the student's responsibility to contact the instructor immediately
to explain the situation and make plans.
 RELIGIOUS OBSERVANCES
Please notify the instructor in advance of religious observances that interfere with class attendance.
 STUDENTS WITH DISABILITIES
FDU has a tradition of providing access to education for students with disabilities. Students with
disabilities should inform the instructor especially if there are medical problems or learning disabilities.
Accommodations may be provided as recommended by the Special Resource Center.
 ACADEMIC INTEGRITY
Any suspected violation of the University code of integrity will result in, at least, a failing grade in this class.
You may be subject to suspension or expulsion from the University. Violations of academic integrity
include cheating on exams, helping others to cheat on exams, copying others’ work, and plagiarism. Consult
the Office of Academic Affairs for more information.
The FDU policy on Academic Integrity may be found here: Academic Integrity Policy at FDU
In addition, please be advised that you are engaging in academic dishonesty if you:
a) share any work done for this course with any other student;
b) “borrow” an existing project or test and modify it and submit it as your own;
c) distribute or share your test answers, files, or projects with any other student;
d) receive and use as your own any test/project material, answers, or solutions;
e) bring in and use any materials which are not allowed during tests and exams;

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Please note that in the case of giving rather than receiving the materials(s), you are deemed as guilty of
engaging in academic dishonesty as the person who receives and submits it as his/her own.