INTRODUCTION TO FINANCIAL ACCOUNTING (ACCOUNT 244)
Spring 2004 Section_____
PREREQUISITES: Sophomore standing, 24 credits, 2.5 gpa.
TEXT: Kimmel/Weygandt/Kieso, Financial Accounting, 3rd Edition, 2004.
OPTIONAL MATERIALS AVAILABLE:
UW-Whitewater Library’s electronic reserve: http://library.uww.edu
Copies of sample exams 1-4
Andersen Library and Beattie Library (C2002) Reserve Desk:
Copies of sample exams 1-4
Student Workbook (study guide)
University Bookstore (available for purchase):
Student Workbook (study guide), 3rd Edition (Kimmel)
Working Papers, 3rd Edition (Kimmel)
Take Action, 3rd Edition (Kimmel)/Interactive CD-ROM with audio tutorials, self tests and key terms
www.wiley.com/college/kimmel [then click picture of Financial Accounting text, on next screen on left under
“Companion Sites” click “Student”. On next screen click “Other Resources for Students”]
COURSE OBJECTIVE: To educate the student with regard to generally accepted accounting principles, the procedures used to
systematically record business transaction data and the communication and analysis of financial information by way of the basic
COURSE CONTENT: This course presents the basic principles of financial accounting, the procedures for analyzing and
recording business transactions and preparation of the financial statements (income statement, balance sheet, cash flow
statement, equity statements) to communicate the results of those transactions. The course includes preparing and posting
journal entries for cash and non-cash transactions, adjusting entries, purchase and sale of inventory, receivables and related
bad debt estimates, notes receivable and payable with related interest computations, long-lived assets and depreciation
methods, current liabilities, long-term debt and related present value concepts, corporate stock and dividend transactions and
other topics. Financial statement ratios and their uses are also introduced throughout the text. Both service and merchandising
enterprises are used for illustration.
EXAMINATIONS AND GRADING: There will be four examinations as indicated below. They must be taken at the times given
below. Any unavoidable absences from exams must be communicated to and approved by your instructor in advance of the
exam. Otherwise, missing an exam means 0 points. Simple calculators are allowed at the exams; however, graphing
calculators, electronic organizers, digital diaries, computers, cell phones, anything that stores text, etc., are NOT allowed.
Spring 04 244 Syllabus
Grading: Grades will be determined from the results of the following exams and other points described below.
Date Bldg./Room Time # Points
Exam 1 (38 questions) Friday, Feb. 13 3:20 - 4:50 p.m. 152
Exam 2 (38 questions) Friday, March 12 3:20 - 4:50 p.m. 152
Exam 3 (38 questions) Friday, April 16 3:20 - 4:50 p.m. 152
Final Exam (38 questions) Tuesday, May 11 8:15 - 9:45 p.m. 152
Instructor Discretion 50
Worksheet & Financial Stmt. Prob. 20
Cash Flow Statement 10
Harley-Davidson Problems 20
Grades will be assigned based on the following percentages of total points: A = 90%, B = 80%, C = 70%, D = 60%, F = less
than 60%. If appropriate, there may be a lowering of the percentages. Students will be informed of their cumulative exam
points after each exam is graded.
Attendance is required in this course and is essential to properly learn this material. For the instructor’s discretionary points,
and in cases where a student’s course grade is on the borderline between letter grades, the instructor can consider the student’s
homework, class participation, attendance, and tardiness. Since any particular student may end up on the borderline, it is
especially important to do the homework and attend class. Acceptable excuses, such as illness with a doctor’s excuse should
be discussed with your instructor. DO NOT call the Accounting Dept. about absences from class unless there is an emergency.
You should read the assigned chapters before coming to class so you will understand the instructor’s explanation. Also, you
should do the homework before the instructor goes over it. You will not be able to do well on the exams if you get behind in
the reading or the homework. It is not possible to cram for this kind of material. It is important to understand the material
early in the course because later material builds on it and is more difficult. Therefore, a good foundation is needed.
TUTORING: The campus tutorial center in McCutchan Hall provides tutoring at no cost in the basement of McCutchan (see
posted schedule). Tutoring is also provided at no cost by members of Beta Alpha Psi, an honorary fraternity composed of accounting
majors, during the following times in Carlson Hall beginning the second week of classes:
Monday: C3014 3:40 - 4:40p.m. Wednesday: C3014 3:40 - 4:40 p.m.
Tuesday: C3014 3:40 - 4:40 p.m. Thursday: C3014 3:40 - 4:40 p.m.
UNIVERSITY STATEMENT: The University of Wisconsin-Whitewater is dedicated to a safe, supportive and
nondiscriminatory learning environment. It is the responsibility of all undergraduate and graduate students
to familiarize themselves with University policies regarding Special Accommodations, Academic Misconduct,
Religious Beliefs Accommodation, Discrimination and Absence for University Sponsored Events. For details
refer to your Timetable; the “Rights and Responsibilities” section of the Undergraduate Bulletin (or
comparable section of the graduate bulletin); UWS Chapter 14, "Student Academic Disciplinary Procedures";
and UWS Chapter 17, "Student Nonacademic Disciplinary Procedures."
As academic integrity is considered a primary value of a university, academic misconduct by either faculty or
students cannot and will not be tolerated. Each student is expected to perform to the utmost of his or her
ability in an honest and sincere manner. Cheating or plagiarism, including the use of unauthorized materials
or the use of another's problem solutions as one's own, will result in severe penalties as provided for in UWS,
Academic misconduct has always included, and continues to include, acts in which the student seeks to
claim credit for the work or efforts of another, in whole or in part, or uses unauthorized materials or
fabricated data in any academic exercise, plus other well-understood acts. Thus, any work you turn in for
credit must be obviously yours, and yours alone.
Spring 04 244 Syllabus
NOTE: Even though exams 1-3 are on Friday afternoons, no class day is given off because we have too much material to cover.
Q = question; BE = brief exercise; E = exercise; P = problem. For brief exercises, exercises, and problems, the first number is the
chapter and the second number is the item. For example, E1-3 means chapter 1, exercise 3. Unless otherwise indicated, do all parts
of each question, exercise, and problem assigned. Homework also includes five ethics cases (chapters 4, 5, 8, 9 and 12).
Students are encouraged to work the Self-Study Questions at the end of each chapter.
Ch. 1 BE1-3, BE1-9, E1-2, E1-6, E1-7, E1-11, E1-13, E1-15, P1-3A
Ch. 2 E2-3, E2-6, E2-8, P2-3A, P2-6A, P2-7A
Ch. 3 E3-2, E3-12, E3-13, P3-2A, P3-4A, P3-6A
Ch. 4 (also read Appendix) Q10, Q16, E4-1, E4-4, E4-8, E4-9, E4-10, E4-12, E4-15, P4-4A, Ethics Case p. 217
FRIDAY, FEBRUARY 13, 3:20 P.M…EXAM 1. Your instructor will tell you the building and room number. DO NOT begin
your exam until you have read all the instructions. Please make sure you fill out the computer answer sheet correctly. Fill in your last
name, first name, and identification number in the spaces indicated. Then fill in your two-digit section number (i.e., 01, 02, etc.)
under special codes A and B. Then darken the correct circles. Ask your instructor if you do not understand how to do this. Finally,
darken the circles strongly, so the computer can read them. Exam 1 covers chapters 1, 2, 3, 4.
Ch. 5 (also read Appendix) E5-4, E5-5, E5-6, E5-10, P5-1A, P5-9A, Ethics Case on p. 264. A financial statement problem that
must be handed in will be graded. Date due is ________________________.
NOTE: Friday, February 27, is the LAST DAY to drop a course. This date is strictly enforced. In deciding whether or not to drop,
you should know that the material gets harder as the course goes along.
Ch. 6 (also read Appendix 6B) Q11, Q12, BE6-6, E6-1, E6-4, E6-7, E6-12, P6-3A
Ch. 7 (also read Appendix) E7-1, E7-3, BE7-4, E7-9, E7-12, E7-14, P7-4A
Ch. 8 Q12, Q13, Q14, Q15, BE8-3, E8-3, E8-4, E8-7, E8-11, E8-13, P8-3A, P8-9A, Ethics Case, p. 413
FRIDAY, MARCH 12, 3:20 P.M…EXAM 2. Same procedure as described for Exam 1. Exam 2 covers everything since Exam 1.
Please be careful filling out the computer answer sheet correctly with your name, student ID and two digit section number.
Ch. 9 (also read Appendix) Q21, Q22, E9-1, E9-3, E9-4, E9-7, E9-12, P9-1A, P9-2A, P9-6A, Ethics Case, p. 465
Ch. 10 (also read Appendix E10-1, E10-4, E10-5, E10-7, E10-12, E10-16, E10-17, P10-2A, P10-6A (part a and b)
10A and handout on semi-
Exercises on handout for semi-annual interest
Appendix C at back of text BEC-13, BEC-14
Ch. 11 (also read Appendix and Q7, Q11, Q18, E11-4, E11-6, E11-11, P11-1A, P11-2A, P11-8A
handout on Treasury Stock)
Exercises on Treasury Stock handout
FRIDAY, APRIL 16, 3:20 P.M…EXAM 3. Please be careful to fill out the computer sheet correctly, including your two-digit
section number and identification number. Exam covers everything since Exam 2.
Ch. 12 (pp. 586-609 only) E12-2, E12-5, E12-6, E12-12, P12-7A, P12-9A, Ethics Case, p. 655
Cash Flow Statement must be handed in and will be graded. Date Due
Ch. 13 (also read Appendix) Q2, Q17, Q20, E13-1, E13-5, E13-6, P13-2A, P13-3A
TUESDAY, MAY 11, 8:15 – 9:45 P.M. FINAL EXAM. The Final Exam is part comprehensive. That is, approximately 40% of
the Final Exam includes topics from before April 16. Approximately 60% of the Final Exam is based on material covered after April
16. Your instructor will tell you the building and room number for your final exam. As always, please be very careful to fill out the
computer answer sheet correctly.
Spring 04 244 Syllabus
Spring 04 244 Syllabus