- April 8, 2020
Management, 1265 Military Trail, Toronto, ON, M1C 1A4, Canada www.utsc.utoronto.ca/mgmt
MGAB02H3 S FINANCIAL ACCOUNTING II WINTER 2020 Instructor Contact Information: L01, L02 George Quan Fun Telephone: Office: E-Mail: 416-208-4740 IC354 [email protected] L03, L06, L07 Lisa Harvey Telephone: Office: E-Mail: 416-208-5187 IC364 [email protected] L04, L05, L08 Liang Chen Telephone: Office: E-Mail: 416-287-7335 IC358 [email protected] Course Description: This is the 2nd half of the introductory accounting course. Technical topics include the reporting and interpretation of debt and equity issues, owners’ equity, cash flow statements and financial analysis. Through cases, choices of accounting treatment and disclosure are discussed, and the development of professional judgment is encouraged. The course is designed to achieve the following objectives: Apply various accounting rules and principles to the recording and analysis of the assets, liabilities, shareholder’s equity accounts, as well as business situations, for both users’ and preparers’ purposes; Develop critical thinking and problem solving skills in analyzing accounting situations/cases, and present the recommendations in a proper business writing format; Analyze financial statements and financial information, using them to make effective business decisions; and, Appreciate the importance of ethics in accounting. Though the courses do satisfy the requirements of the CPA Ontario’s core competencies for an introduction to the subject, the courses are not intended solely for professional accountancy training. They provide a better understanding and a valuable analytical tool for anyone considering a career in management.Management, 1265 Military Trail, Toronto, ON, M1C 1A4, Canada www.utsc.utoronto.ca/mgmt Page 2 Prerequisite(s): Exclusion: VPAB13H3, MGT120H, MGT201H, MGT220H, RSM219H, RSM220H Prerequisite: MGAB01H3/(MGTB05H3) Textbook/Required Course Materials: Required Text: Libby, Libby, Short, Kanaan, and Sterling, Financial Accounting, McGraw Hill, 6th Canadian edition, with Connect Access Card. Access to Connect is required for MGAB02 to work on your on line assignments and quizzes. Use your Connect Access Card and pincode packaged with the Libby text to register at Connect Student Registration URL on page 10 of the Course Outline. If you previously activated your Connect pincode for MGAB01, you will need to re-register at your Connect Student Registration URL for MGAB02 using your existing password and username. When listing your name in Connect, please type your last name, first name, and student number (e.g. Smith, John, 0018276655). Please also use the same name as you have used with the Registrar Office. If you purchased a used book and do not have a Connect Access Card, you will need to purchase access to Connect in order to work on your one line assignments and quizzes. You are expected to have completed the assigned readings before the class session for which the items are listed. Please bring your copy of the text to all class sessions. In each chapter there are Demonstration Cases and Self-Study Questions with solutions provided. It is strongly recommended that you attempt to solve these problems before tackling some of the more complex text questions. Please see the MGAB02 instructor’s Quercus for comments on text errors, etc. In addition, various cases/articles may be distributed in class. These are required readings whether or not the items are formally listed on the course outline. The key to success in this course is to attempt as many problems to increase your level of technical knowledge and gain confidence and familiarity of the type of questions you may be asked on the exams. In addition to the solutions of the class discussion and tutorial questions you will have access to, additional questions and solutions are made available to you in Connect to check your own work/progress from the Libby’s end-of-chapter questions and problems. Although these assignments are marked they are not counted as part of your overall course assessment. Nevertheless, students are encouraged to try these questions. In Connect, we have set the policies as follows: Students are allowed to check their work during and after each assignment. The system will provide “hints” if available for questions. The system will show feedback after students check their work during each assignment and the system will provide detailed feedback (with solutions) after assignment You will see your score each time you click “Score this” rather than at the end of the assignments.Management, 1265 Military Trail, Toronto, ON, M1C 1A4, Canada www.utsc.utoronto.ca/mgmt Page 3 You will be able to see your results for each question immediately rather than at the end of the assignment Connect will also allow you to have access to the following resources: Online Interactive eBook (highlighting, note-taking, hyperlinked, printable) Textbook Chapter Practice Questions with Solutions Self-Quiz and Study Questions Student Resources including Check Figures, Help Me Solve It Video Tutorials and Textbook Self-Study Quiz Solutions. Recommended Readings: Students are expected to have a general knowledge of current business and economic developments, especially as they relate to topics covered in the course. The daily Report on Business of the Globe & Mail and National Post or other papers is recommended. Other Canadian introductory financial accounting texts that you might have access to could also be helpful. For difficult topics, another explanation of material and more examples, as presented in another text, might make the issues clearer. Lecture Notes and Other Announcements: All the lecture notes and announcements for the course will be posted on UTSC Quercus Portal. Students are responsible for checking the Quercus at least once a week to ensure that no major announcements have been missed. Other Information: (a) Studying: The coverage of material in these courses is extensive and rigorous. Experience has shown that students who fail to keep up-to-date at all times, no matter what their previous background in the subject, will tend to have difficulty in handling the material, which is of a cumulative nature, on tests and examinations. It is generally agreed that one needs to work through a substantial number of exercises and problems in order to understand the concepts and procedures involved in accounting courses. In the class sessions a number of text questions and cases will be discussed. It is important to understand that questions on the tests and final examination may differ significantly from text exercises. Questions from the text usually reflect the material in a single chapter, are often variations of chapter illustrations, cover only selected portions of the assigned material, are usually “complete” problems (in the sense that one is expected to follow a logical procedure from start to finish) and are done on an “open-book” basis. Questions discussed/solved in class should be viewed as a minimum effort in order to understand the course. Students are strongly urged to attempt other problems from the text. To assist in the effort, the solution manual will be available to use to check your answer during the instructor’s office hours. In all instances, students should attempt their own solution of problems before verifying their answers. Photocopying of solutions will not be permitted.Management, 1265 Military Trail, Toronto, ON, M1C 1A4, Canada www.utsc.utoronto.ca/mgmt Page 4 (b) Counseling/Office Hours/Accounting Aid Centre: Students who have problems or questions that cannot be discussed in the class sessions are encouraged to attend the instructor’s office hours. For those students who wish to try extra problems from the textbook, solutions may be checked during their instructor’s office hours. The instructor and TA office hours will be announced at the beginning of class. If you wish to have your assignments remarked or need clarification of the mark given, you will need to clearly state your question in memo format and identify which area of your answer deserves additional marks. The instructor will forward your request to the marker directly. Questions relating to administrative, registration, degree/programme requirements should be directed to [email protected] (c) Examinations from Prior Sessions: Copies of old tests and exams will not be made available. These questions will not be discussed and solutions to them will not be provided. (d) Tutorial Sessions and Room Information: There are 6 Problem Tutorial sessions scheduled (3 before the midterm exam and 3 before the final exam) and you may attend any one of the following sessions on the scheduled date. The questions discussed in the tutorials are listed on page 10 of the course outline. Section Day Time Room TUT0001 Tuesday 17:00 18:00 IC 220 TUT0002 Cancelled TUT0003 Thursday 16:00 17:00 SY110 TUT0004 Friday 09:00 10:00 HLB101 Evaluation and Grading: Composition: Weight/Value (a) On Line Assignment (4 in total) 5% (b) Quizzes: (1) B01 Review Online Quiz (2) B02 On Line Quizzes (2 in total) 5% 5% (c) Case Assignment (Group Case) 10% (d) Test & Exam: (1) Midterm Test (2) Final Exam 30% 45% Total 100%Management, 1265 Military Trail, Toronto, ON, M1C 1A4, Canada www.utsc.utoronto.ca/mgmt Page 5 Note: The midterm exams and the final exam date, time and location will be announced once they are determined. Both the Mid Term and Final Exam are 2 hours. (a) On-line Assignments – Submission Procedures: There are 4 on-line assignments. All the on-line assignments are completed in Connect. Each assignment should be completed within approximately 7 days after the lesson is delivered. Students are encouraged to practice as many times as necessary until they are satisfied with the outcome. Students will not be allowed to access the assignment after the due date. Each assignment offers you a unique opportunity to test not only your understanding of the course material but also your ability to analyze and solve problems. An important aspect of problemsolving is the necessity of selecting an answer in the face of uncertainty about the facts or requirements in the problem. Students are encouraged to practice as many times as necessary until they satisfied with the outcome. Students will not be allowed to access the assignment after the due date. To help you develop this critical ability, your professor will not discuss a homework problem or answer any questions about it prior to its submission. Please refer to the Connect Registration Instruction at the end of this document for the detailed logon procedure. (b) Quizzes: B01 Review and B02 On-line Quizzes There is one B01 review on-line quiz that is due at the end of the second week in Connect. This quiz focuses on all the materials covered in B01 and will also provide an opportunity to review all of the course materials covered in B01. The quiz will consist of 30 multiple choice questions and students have 80 minutes to complete all the questions. Students are only allowed one opportunity to complete the quiz. Please make sure that you are fully ready before attempting the quiz. There are also 2 B02 on-line quizzes to be done online and will test students on basic understanding of the required readings. The format of the quiz consists of 30 multiple choice questions to be done in 80 minutes. You only have one attempt and there is no make-up quiz. (c) Case Analysis – Procedures: There is 1 case assignment done in groups of 5 students. The group can only be formed within your own section. Case analysis develops your critical thinking and problem solving skills, so a given accounting situation can be logically addressed. An important aspect of problem solving is the necessity of selecting an answer in the face of uncertainty about the facts or requirements in the problem. The assignment offers you a unique opportunity to test not only your understanding of the course material, but also your ability to analyze and solve problems. To help you develop this critical ability, the instructor will not discuss a homework problem prior to its submission. The format of the case analysis will be discussed in class by the instructor. The case should be typed in a Word document, 1½ spaced on letter-size paper using one-inch margins, maximum length is 4 pages (approximately 800 words), exclusive of tables, appendices and references and 12-point Times New Roman font or equivalent.Management, 1265 Military Trail, Toronto, ON, M1C 1A4, Canada www.utsc.utoronto.ca/mgmt Page 6 Outside sources (articles, books, etc.) are encouraged but not required. Any reference should be listed in a bibliography at the end of the paper. If applicable, you must show all calculations and state all assumptions leading to your answer. It is recommended that you keep the rough draft or photocopy of your assignment to minimize the problems caused by lost or missing assignments. No marks will be given for the correct answer only. No late assignment will be accepted and marked after the due date. Case Assignment – Submission Format: Students need to submit the case assignment in a word document (analysis done in excel must be cut and paste to a word document) to the individual course shell in Quercus under the “Hand In Assignment” tab. Only person from your group should submit the assignment. The instructor will further review the procedures to submit the assignment via Quercus in class. When you upload the file to Quercus, please make sure that the file name consists of: Your name(s): Student Number for each student in the group: Lecture Number for each student in your group: Case 1 (eg: johndoe123456789L01Case1) Except for any unusual circumstances pre-approved by the instructor, no late assignment will be accepted. (d) Mid Term Test & Final Exam: The midterm exam consists of multiple choice questions and several short answer questions covering materials from chapters 8 to 10. The mid term exam is 2 hours. The final exam will consist of multiple-choice questions, problems and other forms of questions which will test your analytical and conceptual thinking. The final exam questions, may combine material from a number of chapters, may require a selection of ideas or concepts from any part of the course, may focus on only one small part of a larger process, may be non-directive (openended) in nature, may require answers in the form of essays of formal reports, are “closed-book” and have strict time restrictions. All tests are cumulative: questions may be asked on all material from the beginning of the course and also from the MGAB01. The final exam is 2 hours. Additional Procedural Points: (a) Students who require special accommodations and arrangements for writing the test and examination should be in contact with the Accessibility Special Services Office to ensure that arrangements can be made on a timely basis. (b) According to the Academic Regulations of UTSC (please refer to http://www.utsc.utoronto.ca/courses/calendar02/Academic_Regulations_(Part_III).html), if students are scheduled to write two final examinations at the same time, they should report their conflicts to the Assistant Registrar (Scheduling) (Room S416A, 416-287-7540). Arrangements will normally be made for students to write both examinations on the same day, with a supervised break. Where the conflict involves a St. George Campus course, arrangements will normally be made for both examinations to be written at University of Management, 1265 Military Trail, Toronto, ON, M1C 1A4, Canada www.utsc.utoronto.ca/mgmt Page 7 Toronto at Scarborough. Requests for such arrangements must be made no later than two full weeks before the commencement of examinations and will not be considered after that time. (c) Students scheduled to write final examinations in three consecutive time slots (these are morning, afternoon, and evening) may request special arrangements. Requests for such arrangements must be made with the Assistant Registrar (Scheduling) no later than two full weeks before the commencement of examinations. Requests will not be considered after that time. (d) Test/Examinations answers must be written in ink. (e) Students are expected to arrive on time for all tests and examinations. It is not likely that any additional time can be allowed for late arrivals. (f) The use of a simple, non-programmable, quiet, non-printing calculator will be permitted in all tests and examinations. Students will not be permitted to share calculators and should take adequate precautions against calculator failure during a test. No allowance can be made for calculator failure or malfunction. The allowed calculators include: Texas Instruments TI 30 Explorer Plus, Sharp EL509 and 531, Cassio FX 65 and 280. Policy on Missed Assignments/Examinations: Students who find that, due to illness, they are unable to attend a mid-term test should notify the instructor before the test date. Make-up tests for the midterm will not be arranged; however, the student should provide the instructor with a medical note. Grading procedures for such circumstances will be 0 for the midterm exam with the final exam worth 75% (summation of marks allocation for midterm and final). These students may be required to write a separate comprehensive final exam which is a combination of a deferred midterm exam and the final examination, and the comprehensive exam could last for 3 hours. Students who miss the midterm exam and fail to contact the instructor within 24 hours of the exam date will receive 0 for the midterm portion of the mark. Academic Support: Office Hours: Office hours for individual consultation with students who have problems or questions that cannot be discussed in the class sessions will be announced by each instructor. For those students who wish to try extra problems from the textbook, solutions may be checked during their Instructor’s office hours. TA office hours will be announced at the beginning of term. If you wish to have your assignments remarked or need clarification of the mark given, you will need to clearly state your question in memo format and identify which area of your answer deserves additional marks. The instructor will forward your request to the marker directly. Questions relating to administrative, registration, degree/programme requirements should be directed to [email protected], 1265 Military Trail, Toronto, ON, M1C 1A4, Canada www.utsc.utoronto.ca/mgmt Page 8 UTSC Library: The Department of Management, in collaboration with the UTSC library, will be providing academic research support in the IC Building. To refine your research skills or to learn more about various scholarly resources, please contact one of the Librarians below. Mariana Jardim, Liaison Librarian, Department of Management, UTSC Email: [email protected] Stephanie Perpick, Bridge Coordinator & Liaison Librarian, Department of Management, UTSC Email: [email protected] Consultations by appointment and drop-ins welcome. Bridge Website: https://www.utsc.utoronto.ca/thebridge English Language Development Centre (ELDC): The English Language Development Centre (ELDC) helps students develop the critical thinking, vocabulary and academic communication skills essential for achieving academic and professional success. Personalized support includes: RWE (for academic writing); Communication Cafés (oral); Discussion Skill-Building Cafés; Vocabulary Cafés; seminars/workshops; personal ELD consultations; drop-in sessions. http://ctl.utsc.utoronto.ca/eld/ The Writing Centre: The Writing Centre (TWC) offers invaluable services to students (learn to become a better writer!) and offers many different kinds of help: drop-in sessions, individual consultations, workshops, clinics, and online writing handouts. http://ctl.utsc.utoronto.ca/twc/ Health & Wellness Centre: The Health & Wellness Centre provides professional and confidential medical, nursing, counselling, health promotion, and education services to all UTSC students. These services are offered in a safe, caring, respectful, and empowering environment that is directed toward optimizing your personal, academic, and overall wellbeing.. To access these services, please use the following url: https://www.utsc.utoronto.ca/hwc/health-wellness-centre and when visiting the Health & Wellness Centre, please bring a valid T-card and Health card. Academic Advising and Career Centre: The Academic Advising and Career Centre (AA&CC) at UTSC integrates developmental advising, learning/study skills, career counselling, and employment coaching. To reach out to them please use the following url: https://www.utsc.utoronto.ca/aacc/Management, 1265 Military Trail, Toronto, ON, M1C 1A4, Canada www.utsc.utoronto.ca/mgmt Page 9 MGAB02H3 COURSE SYLLABUS – 2020 WINTER # Week of TEXT CHAPTER To be read before class SELF STUDY QUESTIONS ASSIGNMENT/ QUIZ/ CASE DUE DATES TUTORIAL QUESTIONS 1 Jan. 6 8. Reporting and Interpreting Property, Plant and Equipment, Natural Resources and Intangibles M8-3; 8-7; 8-8; 8-9 E8-3; 8-15; 8-17; 8- 19 P8-2; P8-4; 8-6; 8- 13; 8-14 B01 On-line Quiz 2 Jan. 13 due Jan. 19 3 Jan. 20 9. Reporting and Interpreting Current Liabilities (exclude Appendix 9A) Present Value Concepts (Appendix 9B & C – Pages 513-522) M9-6 E9-1; 9-3; E9-8 P9-1 On-line Assignment #1 (Ch 8) due Jan. 26 P8-9; 8-10; 8-14; AP8-1 (Jan 21, 23, 24) 4 Jan. 27 10. Reporting and Interpreting Non-Current Liabilities (exclude Pages 569-572) M10-5 E10-9; 10-10; 10- 11; 10-12 E10-13; 10-15 AP10-5; 10-9 On-line Assignment #2 (Ch 9 & 10) due Feb. 9 P9-5; P10-4; 10- 5; 10-8 (Jan 28, 30, 31) 5 Feb. 3 Quiz #1 (Ch 8- 10) due Feb. 16 Mid Term Exam Review (Feb 4, 6, 7) 6 Feb. 10 Mid Term Exam (Chapters 8 – 10) (30%) – Time & Location (TBD) Feb. 15 – 21 Family Day & Reading Week – No Class 7 Feb. 24 Case Analysis Framework Review Case 1/2 (posted on BB) 8 Mar. 2 12. Analyzing Financial Statements P12-4; AP12-1 9 Mar. 9 11. Reporting and interpreting Shareholder’s Equity (exclude Appendix 11A) M11-6; P11-3 E11-1; 11-2; 11-3; 11-8; 11-9; 11-11; 11-13; 11-15 On-line Assignment #3 (Ch 11) due Mar. 22 P11-2; 11-7; 11-8; 11-10 (Mar 17, 19, 20) 10 Mar. 16 Group Project due Sunday Mar. 29 Mar. 22 Last day to drop S courses without academic penalty 11 Mar. 23 5. Reporting and Interpreting Cash Flows (exclude Direct Method) E5-5; 5-7; 5-8; 5-9 P5-1; 5-2; 5-4 On-line Assign #4 (Ch 5) due April 5 P5-3; 5-5; 5-9 (Mar 24, 26, 27) 12 Mar. 30 Quiz #2 (Ch 5, 11, 12) due April 7 Final Exam Review Mar 31, April 2, 3) April 4 – 7 Study Break; April 8 – 25 Final Exam (45%) – Comprehensive Time & Location (TBD) Please note that the deadline for all assignments is 11:59 pm on the due date.Management, 1265 Military Trail, Toronto, ON, M1C 1A4, Canada www.utsc.utoronto.ca/mgmt Page 10 Connect Student Registration Instructions (for new users): Register with your Connect registration code packaged with the text, or purchase online when you register or “start a free trial”. 1. Go to the following designated URL to access Connect : Section Professor Connect URL L01 Quan Fun https://connect.mheducation.com/class/g-quan-fun-mgab02-l01 L02 Quan Fun https://connect.mheducation.com/class/g-quan-fun-l02-w20 L03 Harvey https://connect.mheducation.com/class/l-harvey-l03-w20 L04 Chen https://connect.mheducation.com/class/l-chen-l04-w20 L05 Chen https://connect.mheducation.com/class/l-chen-l05-w20 L06 Harvey https://connect.mheducation.com/class/l-harvey-l06-w20 L07 Harvey https://connect.mheducation.com/class/l-harvey-l07-w20 L08 Chen https://connect.mheducation.com/class/l-chen-l08-w20 2. Click on “Register Now.” 3. Enter your email address (this will become your Connect username). If you already have a McGraw-Hill account, you will be asked for your password and will not be required to create a new account. In registering your name, please put the 4 four digit of your student number to the end of your last name. Please use the same name as you have used with the Registrar Office. For example, if your name is Yu-Ting Chan, but known as Tiffany Chan: Last name: Chan First name: Yu-Ting, 0168168168 (First name & Student number) 4. Enter a registration code package with text or choose “buy online” to purchase access online. 5. Follow the on-screen directions. 6. When registration is complete, click on “Go to Connect Now.” 7. You are now ready to use Connect. Connect Technical Support: Visit http://mpss.mhhe.com/student_connect_resources.php for Connect registration instructions, Connect Student Q&A and Searchable Q&A. To submit a support ticket with McGraw-Hill Care Centre, visit www.mcgrawhill.ca/support or call 1- 800-331-5094.