MGMT2101

Introductory Accounting I
(Financial
Accounting)
Fall 2014
CLASS TIME, LOCATION, INSTRUCTOR:
Section 02:

Tuesdays & Thursdays, 11:35am-12:55pm, with Jim Power, CA

in the Rowe Management Building, #1009.

Section 03:

Tuesdays & Thursdays, 1:05pm-2:55pm, with Jim Power, CA

in the Rowe Management Building, #1009.

OFFICE HOURS, LOCATIONS, AND OTHER CONTACT INFORMATION:

Jim Power: Tuesdays & Thursdays, 9:00am 11am; others, by appointment.
Rowe Building, # 4088;
Telephone: 4941755; E-mail: Jim.Power@Dal.ca
TUTORIALS (for all Sections): The Tutorial will be directed by a 4th Yr. Dal student, who is
majoring in Accounting. These Tutorials are intended to give you extra help with the Course
content. Attendance is OPTIONAL...but strongly encouraged, especially for those students who
are having trouble understanding the material or doing the assignments. These tutorials are a
valuable, added resource for assistance to students. Tutorials will begin (Fri. Sept. 19 )
****Fridays, 11:35-12:55pm, in the Rowe Building #1020 ***.

Pre-Requisite for Course: Mgmt 1000; and Mgmt1001.

Learning Objectives:

Overview
Management 2101 is an introduction to Financial Accounting and Reporting. Financial accounting
and reporting is concerned with providing financial information about economic entities to
stakeholders. In this course, we will examine financial reporting by both for profit and non-profit
organizations. Stakeholders are parties who have interests in or relationships with an entity, and
include shareholders, creditors, Canada Revenue Agency (CRA), to name a few. Each group of
stakeholders has different information needs and has different decisions to make, and each group
imposes different constraints and exerts different amounts of influence on the preparers of
accounting information. Preparers often have a great deal of latitude in preparing financial
information. Users of accounting information must be aware of the alternatives available to
preparers of financial statements so that they can use the statements intelligently for decisionmaking.
Management 2101 is not a difficult course, but may be a frustrating course for some because
accounting is an ambiguous subject and no attempt is made to hide the ambiguity. It just takes time
and effort. Assignments and Exams not only require that you have knowledge, but also that you
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apply higher level thinking skills such as problem identification, analysis, synthesis, judgment,
diagnosis, integration to that knowledge.
An understanding of financial reporting and the basic accounting concepts is essential in every area
of business. Most organizations planning, control, and performance evaluation are at least
partially based upon accounting information, and a good financial reporting system is essential for
the effective management of business operations.
Management 2101 is intended to provide an understanding of the accounting process choices that
exist so that you can be an informed and skilled user of accounting information. Accounting
information is crucial for many decisions. It is essential that business people have a solid
understanding of accounting, even if they are not accounting professionals. A weak understanding
of accounting may result in poor or uninformed decisions. This course is not designed to develop
accountants, although the course is a good start.
The Main Objectives of this course are:

To be able to use accounting information effectively for decision-making.

To understand the limitations of accounting information and to be able to critically evaluate the
usefulness of a set of information for a particular decision whether it us in the private or notfor profit sectors.
To introduce the theoretical framework upon which financial accounting is based, and to
examine its underlying principles and interrelationships
To be able to read financial statements critically as an informed user.
To be able to choose the appropriate financial information necessary to make decisions.
To develop numeracy skills. Students should be comfortable working with and manipulating
numbers and information contained in accounting and financial reports.
To improve critical thinking and problem-solving skills.
To foster written and oral communication skills.

Approach Taken:
A combination of lectures and problem demonstrations is used. Students are encouraged /
expected to participate and ask questions.
Before each class, you are expected to have read the material to be covered and to have completed
the assigned questions, exercises and problems. The course moves quickly and the workload is
heavy. Practice is very important to mastering the material. On average, you should plan to spend
(810) hours per week, outside of class time, working on this course.
An understanding of accounting is achieved in logical steps, success in later classes depends upon a
firm grasp of preceeding material. Catching up is very difficult in this course, so you have to
organize your schedule and manage your time to ensure that you will be regularly prepared for
class and avoid falling behind. Visit your instructor if you are finding it overly challenging. They
may be able to offer guidance to make the learning process easier.

Learning Materials:
Text book required: Financial Accounting, Fifth Cdn.Edition, by
Harrison, Horngren,Thomas,et al; published by Pearson Canada, 2013.
If you would prefer to purchase an electronic version of the Pearson eText, a Pearson Desktop
edition is available at http://ca.MyAccountingLab. This downloadable electronic version of the
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textbook enables highlighting and notes taking. The cost of the electronic version is much less than
that of a new hard copy textbook.
BbLearn/OWL
This course uses the DAL Bblearn /OWL system and built-in MyAccountingLab application to
supplement the text and class meetings. Bblearn /OWL is accessible by all registered students
through OWL. To register and use MyAccountingLab in the course, students may use the access
code provided with their textbook or purchase it separately from the bookstore or with a credit card
when accessing MyAccountingLab for the first time. Use of My Accounting Lab is optional in this
course.

Dal Accounting Courses (Mgmt 2101) - Calculator Use policy:

Dals Accounting Courses (Mgmt 2101) requires all students to use the Sharp EL
243SB. basic four-function calculator that sells for $4.95 at the Dal Bookstore. This
is to be used for all Quizzes, Midterm and Final examinations. This is the only calculator
that can be used in Accounting examinations for the above Courses. Students are advised
to purchase this calculator and become familiar with its usage and bring it to their
examinations.

Method Evaluation:
Participation/Quizzes........10%
Assignments...10%
Project 10%
Midterm exam.....30%
Final Exam....40%
Total100%
Please note that, in order to pass the Course, you must achieve a weighted average of at least
50% on the combination of the mid-term test and the final examination (i.e., you must earn at
least 35 of the 70 marks allocated to these two components), as well as achieving an overall
mark in the course of at least 50%.
Drop dates:
Last day to add/drop classesSept. 19th,2014
Last day to drop without a W- Oct. 3 rd, 2014
Last day to drop with a WNov. 3rd, 2014
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Participation & Quizzes (10%)

There will be (3-4) Multiple Choice, True/False or short answer Quizzes held at random, during
the term, at the beginning of selected classes. These quizzes will be short (10 to 15 minutes).
NO MAKE-UP QUIZZES WILL BE OFFERED
In order to accommodate fot illness, missed class, other reasons etc., your worst quiz mark will be
dropped.
Assignments (10%) & Project (10%):
The Assignments & Project can be done individually or as a team of two students, in same Section
(if done as a team, only submit one assignment indicating names of both team members). If
Assignments are done in Teams.... the students must be in the same section/class.
There are Four (4) assignments which must be submitted as designated by your professor on the
due date. Please note the assignment due dates.
! ! ! ! NO LATE ASSIGNMENTS WILL BE ACCEPTED. NO EXCEPTIONS ! ! ! ! !
ASSIGNMENT
DUE DATE
Assign#1 ( Chapters 1-3)
Sept 30
Assign#2 ( Chapters 4-6)
Oct 16
Assign#3 ( Chapters 7-10)
Nov 13
Project
Nov 27
The Assignments will be created or come from the Text. The Due Dates, either the
Tuesday/Thursday class, are listed on the Course schedule attached to this outline. The
Assignments will be posted on the BbLearn/OWL site in the Assignments Folder.
The Assignments should be submitted accordingly.My Sections....need to submit assignments on
8.5 x 11 paper (prepared using a word processing or spreadsheet application such as Word or
Excel) and have a title page with your name and section number and the name of the assignment on
it followed by the answers to the assignment questions.
The Assignments must be handed in only at the beginning of the class, (within the first 10 minutes),
coinciding with the Due Date. No Late Assignments are Accepted. Only hardcopies of the
assignments submitted in class will be accepted.
Please Note:
Assignments will NOT be Accepted by e-mail, or if placed in my mailbox, or if slipped under my
office door. If you cannot make the class, you will need to get a fellow student to submit the
assignment for you. Each assignment will be graded and returned to you on a timely basis in class.
The Suggested Solutions to the Assignments will be posted on the BbLearn/OWL site the day after
they are Due. Late assignments will not be accepted.
The Project (10%)
The Project requires you to do Research on a Canadian NPO involved in Charitable/Not-for-Profit
Activity and comment on how they undertake their Financial Reporting to the Public based on rules
established by the Canadian Institute of Chartered Accountants (CICA).
There are suggested readings posted on the BbLearn (OWL) to read prior to doing the paper. The
Project paper is worth (10%) and is based on the submitted Research Paper. The requirements for
the Research Paper will be distributed during the Term.
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The Project can be done individually or as a team of two students, in same Section (if done as a
team, only make one submission , indicating names of both team members). If Assignments are
done in Teams.... the students must be in the same section/class.
Examinations:
Mid-term Exam will be held in class on TuesdayOct. 21. Students must write the Exam at this
time. Neither alternate times nor make-up Exams will be given for any reasons. If you miss the
Midterm Exam for a valid reason (see below), your Final Exam will be weighted accordingly at
70% (30% + 40%) .
Students with a valid reason (such as serious illness) for missing the Exam must notify the
Undergraduate Advising Office as soon as possible, and must submit appropriate supporting
documentation to the Undergraduate Advising Office within the required time frame as indicated in
the University handbook. Students should be aware of the Universitys Sick Note policy and
should check the Dal website (http://flu.dal.ca/facultystaff/Sick_Notes_Policy.php) regularly for
any updates. Please note that travel conflicts do not constitute a valid reason for missing a
term test or final exam.
The Final Exam will be scheduled by the Registrars Office, and it must be written at the
scheduled time. Students should therefore not make any travel or other plans until the final
examination schedule has been posted.
COURSE COMMUNICATIONS:
The normal mode of communication, outside of classes and office hours, will be via the
BbLearn/OWL site. You should check the BbLearn/OWL sitefor your class, and/or your Dal
webmail account regularly throughout the term for Announcements. Your class BbLearn/OWL site
will be used to post PowerPoint Slides, Solutions to Problems reviewed in Class and other similar
items and class specific Announcements.
Please DO NOT use the BbLearn/OWL site email to reach me (these accounts not regularly
checked). I Use Dal email account indicated on the first page.

OTHER:
Certificates of illness:
Medical notes must be submitted to the Undergraduate Advising Office, 2nd floor, room 2086 of
the Kenneth C. Rowe Management Building. Please note that it is a university regulation (16.8 of
the Undergraduate Calendar) that medical notes will not normally be accepted after a lapse of
more than one week from the examination or assignment completion date.
Students requiring accommodations:
Students may request accommodation as a result of barriers related to disability, religious
obligation, or any characteristic under the human rights legislation.
Students who require academic accommodation for either classroom participation or the writing of
tests and exams should make their request to the Advising and Access Services Center (AASC)
prior to or at the outset of the regular academic year. Please visit www.dal.ca/access for more
information and to obtain the Request for Accommodation form.
A note taker may be required as part of a students accommodation. There is an honorarium of
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$75/course/term (with some exceptions). If you are interested, please contact AASC at 494-2836
for more information or send an email to notetaking@dal.ca
Please note that your classroom may contain specialized accessible furniture and equipment. It is
important that these items remain in the classroom, untouched, so that students who require their
usage will be able to fully participate in the class.
Academic Integrity
In general:
The commitment of the Faculty of Management is to graduate future leaders of business,
government and civil society who manage with integrity and get things done. This is non-negotiable
in our community and it starts with your first class at Dalhousie University. So when you submit
any work for evaluation in this course or any other, please ensure that you are familiar with your
obligations under the Faculty of Managements Academic Integrity Policies and that you
understand where to go for help and advice in living up to our standards. You should be familiar
with the Faculty of Management Professor and Student Contract on Academic Integrity, and it is
your responsibility to ask questions if there is anything you do not understand.
Dalhousie offers many ways to learn about academic writing and presentations so that all members
of the University community may acknowledge the intellectual property of others. Knowing how to
find, evaluate, select, synthesize and cite information for use in assignments is called being
information literate. Information literacy is taught by Dalhousie University Librarians in classes
and through Dalhousie Libraries online Citing & Writing tutorials.
Do not plagiarize any materials for this course. For further guidance on what constitutes
plagiarism, how to avoid it, and proper methods for attributing sources, please consult the
University Secretariats Academic Integrity page.
Please note that Dalhousie now subscribes to SafeAssign.com, a computer based service that
checks for originality in submitted papers. Any paper submitted by a student at Dalhousie
University may be checked for originality to confirm that the student has not plagiarized from other
sources. Plagiarism is considered a very serious academic offence that may lead to loss of credit,
suspension or expulsion from the University, or even the revocation of a degree. It is essential that
there be correct attribution of authorities from which facts and opinions have been derived. At
Dalhousie, there are University Regulations which deal with plagiarism and, prior to submitting
any paper in a course; students should read the Policy on Intellectual Dishonesty contained in the
Calendar.
Furthermore, the Universitys Senate has affirmed the right of any instructor to require that student
assignments be submitted in both written and computer readable format, e.g.: a text file or as an
email attachment, and to submit any paper to a check such as that performed by the SafeAssign
anti-plagiarism software. As a student in this class, you are to keep an electronic copy of any
paper you submit, and the course instructor may require you to submit that electronic copy on
demand. Use of third-party originality checking software does not preclude instructor use of
alternate means to identify lapses in originality and attribution. The result of such assessment may
be used as evidence in any disciplinary action taken by the Senate.
Finally:
If you suspect cheating by colleagues or lapses in standards by a professor, you may use the
confidential email: managementintegrity@dal.ca which is read only by the Assistant Academic
Integrity Officer.
Faculty of Management clarification on plagiarism versus collaboration:
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There are many forms of plagiarism, for instance, copying on exams and assignments. There is a
clear line between group work on assignments when explicitly authorised by the professor and
copying solutions from others. It is permissible to work on assignments with your friends but only
when the professor gives you permission in the specific context of the assignment. University rules
clearly stipulate that all assignments should be undertaken individually unless specifically
authorised.
Specific examples of plagiarism include, but are not limited to, the following:
Copying a computer file from another student, and using it as a template for your own
solution
Copying text written by another student
Submitting the work of someone else, including that of a tutor as your own
An example of acceptable collaboration includes the following:
When authorised by the professor, discussing the issues and underlying factors of a case
with fellow students, and then each of the students writing up their submissions individually,
from start to finish.

COURSE SCHEDULE:
A tentative schedule is presented below; however, this may change somewhat as we progress
through the term. It is your responsibility to be aware of the Assignments to be done, the deadlines
for their submission, etc., and to ensure that these requirements are fulfilled. If you are unable to
attend a class, it is your responsibility to keep informed of what you have missed, and to take
appropriate action to avoid falling behind.
Week
starting

Topic to be covered

Text
chapter

Sept 1

Introduction/ Course SyllabusThe Purpose & Use of Financial Statements

Sept 8

A Further Look at Financial Statements & Recording Business Transaction

Sept 15

Accrual Accounting & Financial Statements

Sept 22

Accrual Accounting & Financial Statements ( contd)

Internal Control and Cash ( 170-177; 186-191)

Sept 29

Oct 6

Oct 13

Oct 20

Short-Term Investments & Receivables (228-237)

Inventory& Cost of Goods Sold ( 271-275; 278-283 )

Inventory& Cost of Goods Sold -(contd) & Catch up

Property Plant & Equipment (321-39)
Mid-term Exam In Class (Tuesday Class). Oct. 21

1& 2
3
3
4
5

6
6
7
Ch 1-6

Property Plant & Equipment (contd)

Oct 27
Nov 3

Nov 10

Nov 17
Nov24
Dec 01

Liabilities (416-20; 423-25 )

Shareholders Equity (474-81; 483-86)
No class on Tuesday-Nov 11

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10

12

The Statement of Cash Flows (554-74)

The Statement of Cash Flows (contd)

12

Financial Statement Analysis ( 625; 637-650; 653-57)

13

Financial Statement Analysis & Review

13

LAST CLASS

Final Exam will be scheduled during exam period (comprehensive coverage - Chapters 1 - 14)

Students should therefore not make any travel or other plans until the Final examination
schedule has been posted.
Please check our OWL website frequently for any important updates.

STATEMENT ON THE USE OF SCENTED PRODUCTS

Dalhousie University and the organizations which represent students, faculty and other employees
support the efforts of the Dalhousie University Environmental Health and Safety Committee to
create a scent-free University. In consideration of the difficulties that exposure to these products
cause sensitive individuals, the University encourages faculty, staff, students and visitors to avoid
the use of scented personal care products.
Thank you for helping us all breathe easier!

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Some Ground RulesPlease Read Carefully

1. Names: Please bring your DAL Student ID cards to the Mid-term and Final exams.
1. Attendance: Please do your best to attend all Classes and Tutorials. You are responsible
for material covered in class for exam purposes.
2. Marks are not negotiable: We are willing to spend time with you discussing where
you went wrong on exams, but we will not discuss changing grades. The only
exception to this is if there is an obvious error such as an addition mistake or the failure
to grade part of your submitted work.
3. Availability: Instructor/TA will make time available to help with any problems or
concerns. Please arrange to meet during my office hours, if possible.
4. Preparation: for class and participation. As discussed above, classes are generally run
in an interactive and lecture fashion. For an interactive approach to work, students
must come to class prepared and willing to be actively involved in the discussions.
5. Courtesy: Courtesy in the classroom is crucial to an effective learning environment.
Please observe the following rules:
Please show up to class on time. It is disruptive when people trickle in after the
start of class. This is especially important during the student group presentations.
Please do not talk with your colleagues. Direct comments and questions to the
entire class. It is disruptive to other students who want to hear what the instructor
is saying.
Please Turn off cell phones, & no Texting while in class.
Please do not eat food in class.
Please do not leave while class is on unless it is absolutely essential.
If you attend class please focus on the class. If you want to do other course work or
read the paper, do not attend.
Show the same courtesy and respect to your colleagues that you would expect from
classmates and professors.
Overall:
My Expectations of You:
1) You come to class on time
2) You come to class prepared
3) You do not talk /text during class
My Promise to You
1) I will come to class on time & be prepared
2) Everyone will be treated fairly
3) The graded Assignments& Quizzes will be returned on a timely basis.
4) The Midterm exam will be Marked and returned to you the week after you write
the exam.

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