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									Revised 08/29/08



                                        Accounting 501
                                   Huntsville Executive MBA
                                    Dr. Tom Albright, CPA
                                      Fall Semester, 2008


Phone/Voice Mail          348-2908
Fax:                      348-8453
E-Mail                    Talbrigh@cba.ua.edu


                                    COURSE DESCRIPTION

AC 501 is the study of financial and managerial accounting fundamentals. The course
focuses on analysis of information contained in corporate annual reports as well as cost
system design and use.

Course Objective
The objective of this course is to prepare managers to use financial and managerial
accounting information. To accomplish these objectives, this course will

         (1)       focus on basic concepts of financial and managerial accounting
         (2)       emphasize decision making and the role of accounting choices and
                   economic consequences resulting from these choices.
         (3)       stress analysis of financial statements: how the information is useful,
                   what the information means.
         (4)       examine the limitations of accounting as well as current accounting
                   controversies, and
         (5)       analyze issues in corporate reporting from the current financial press


                        This course is not intended to prepare you for a career in financial
         accounting. Thus, basic (mechanical) aspects of accounting are presented only to
         the extent necessary to understand financial information. This course attempts to
         bring theory and practice closer together so that students will gain an
         understanding of the applications of concepts and methods of accounting in the
         real world.
Student learning outcomes

At the conclusion of the course, students will be able to

1)    analyze the information contained in corporate financial statements (balance sheet,
      income state, statement of cash flow, and statement of shareholders’ equity) to
      assess the financial condition, financial performance, and cash-generating capacity
      of the company.

2)    understand the choices that managers have with regard to the presentation of
      financial information.

3)    understand management’s responsibilities and the roles of the auditors, audit
      committee, and the board of directors in financial reporting.

4)    analyze and interpret basic cost accounting information and use this information
      for decision-making


Prerequisites
Admission to the Executive MBA program.



Attendance Policy
This is a graduate-level course. The learning experience for both you and your
classmates depends upon your active participation; therefore, advanced class preparation
and attendance are expected.



Disability access statement To request disability accommodations, please contact the
Office of Disability Services at 348-4285. After consultation with that office, contact
your professor. However, it is the student’s responsibility to make arrangements for the
accommodations on a timely basis. Special arrangements for exams must be made at
least one week prior to the exam date or your instructor is not required to provide
requested accommodations. Any request for special arrangements made less than one
week prior to an exam date may not be able to be honored.




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                                REQUIRED CLASS MATERIALS

Textbook

Ingram, R., and T. Albright. 2007. Financial Accounting: Information for Decisions. 6th
      Edition: Cincinnati: Thomson South-Western.


Cases

Harvard Business School Case
The Enron Collapse

Thomson Learning - Author: John Shank Case
Reichard Maschinen

Institute of Management Accounting Case
Forest Hill Paper Company
(download from eLearning)

Other Case Materials
General Mills Annual Report Exercise
(download from eLearning)

Sitara Corporation Cash Flow Exercise
(download from eLearning)


                                         EVALUATION

I will evaluate your performance based on a midterm and final exam, as well as a group
case assignment. Exams will cover concepts addressed in case discussions, homework
assignments, reading assignments, and class lectures. Grades will be assigned using the
traditional ten point college scale1


Midterm exam                               40%
Case – The Enron Collapse                  15%
Final Exam                                 45%
                                          100%

If an emergency arises that causes you to miss a scheduled exam, please contact me in
advance if possible. I will work with you reschedule your exam.



1
    For example 90% = A, 80% = B, etc.


                                             3
                               Assignment Schedule

WEEKEND 1

Class 1          Read before class: Chapter 1 and Chapter 2 - Financial Recording
Sat. Sept. 20    Case discussion: General Mills annual report exercise
1:00 – 5:00      In-class practice set: P2-1, P2-7



WEEKEND 2

Class 2          Read before class:         Chapter 3 - Accrual Concepts
Fri. Oct. 3                                 Chapter 5 - Cash Flow Statement
4:00 – 7:00      In-class practice set: E3-9, P3-8, P3-16
                 In-class practice set for cash flows: Sitara Corporation


Class 3          Read before class:       Chapter 6 - Full and Fair Reporting
Sat. Oct. 4                               Enron Case
8:00 – 12:00     Homework to review in class: E5-2, E5-8, E5-9, P5-12, (extra
                 practice P5-4), P5-9, P5-10.


Class 4          Read before class:          Chapter 8 - Time Value of Money
Sat. Oct. 4                                  Chapter 9, - Financing Activities
1:00 – 5:00      In-class practice set for financing: E9-2, E9-17, P9-1, P9-8



Take-home Mid-term exam due to me by 0800, Monday, October13.

WEEKEND 3

Class 5          Read before class:          Chapter 11 - Investing Activities
Fri. Oct. 17                                 Chapter13 - Operating Activities
4:00 - 7:00      In-class practice set for investing: P11-11, P11-20
                 Coca-Cola Annual Report - Equity method


Class 6          Lecture: Cost classification and flows through an accounting system.
Sat. Oct. 18                Activity-based costing
8:00 – 12:00     In-class case: Forest Hill Paper Company.




                                          4
Class 7        Lecture: Cost Behavior
Sat. Oct. 18   In-class case - Reichard Maschinen
1:00 – 5:00    Review for final exam



WEEKEND 4

Class 8        Final Exam
Fri. Oct. 31
4:00-7:00




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