Intermediate acctg syllabus

MGMT S-1100 (CRN 33338) Intermediate Accounting Summer 2021 Professor Vijay Sampath Section Meeting Time: Monday, Wednesday 3:15 – 6:15 pm Telephone: (646) 479-7517 Web Conference Email: vsampath@fas.harvard.edu Prerequisites: ECON S-1900 or equivalent Course Objectives This course builds on the fundamentals of financial accounting and reporting that you learned in the introductory Financial Accounting course (ECON S-1000 or equivalent) By the end of the course, you should have a good understanding of the (a) preparation and interpretation of an entity’s financial statements in accordance with generally accepted accounting principles, (b) accounting for complex business transactions, and (c) techniques to evaluate firm performance Topics include income statement, individual components of assets and liabilities, stockholders’ equity, statement of cash flows, revenue recognition and accounting changes Real-life case studies will be used to evaluate firm performance Required Textbook: Intermediate Accounting by Spiceland, Nelson and Thomas McGraw-Hill Irwin Tenth Edition (ISBN13: 9781260310177; ISBN 10: 1260310175) An access code for McGraw Hill comes automatically with the purchase of a new text The access code is as follows: https://connect.mheducation.com/class/v-sampath-summer-2021monwed-315-6-15-pm Supplementary cases, notes, solutions to in-class exercises and other handouts will be given posted on Canvas Grading Letter grades will be assigned for the course based on the following scale: 96-100% 91-95 86-90 80-85 75-79 70-74 60-69 59 or less A AB+ B BC+ C F Grading will be weighted as follows (for graduate students): Homework Assignments Case studies Midterm Exam Final Exam Individual Paper 25% 20% 20% 25% 10% Homework Assignments      The website for the assignments will be provided on the first day of class You must log in and register as a student user This is the website from which homework assignments are completed All homework assignments must be submitted electronically McGraw Hill will grade the problems for correctness; multiple attempts per question are permitted The questions assigned are contained in the Course Calendar below For some of the questions, the numbers will be generated algorithmically, so the numbers WILL NOT be the same as those in your text or of other students Each assignment is worth the same percentage of the overall assignment grade weight, and the problems are equally weighted The score from McGraw Hill will be converted into a percentage grade Your best score from the (multiple) assignments will be considered for grading purposes You can work together on your homework assignments; however, each student must submit his/her own answer Case studies – group project The class will be divided into groups of two to three students and cases will be assigned There will be two cases assigned to each team: Dell and Apple The case studies have been uploaded in Canvas under Files  Case Studies For both cases, the team members are jointly required to answer the questions that will be provided with the case The answers are due prior to the date assigned to discuss the case Each team will email me two Word/Pdf documents, one for each case You are not required to prepare any PPT presentations Exams There will be two exams – a midterm and a final exam Both exams will be administered electronically through the McGraw Hill website The final exam will be held on Wednesday, August 4th Individual Paper You have to write a paper performing an analysis of the latest annual financial statements of a public company, which you will choose with my approval The purpose of my approval is to make sure that multiple students not work on the same company The paper should be 3-5 pages (double-spaced and Times Roman 12 font) in length (not including appendices) and is due on 8/4/2021; please email your papers to me You will be required to present your findings during class on 8/2/2021 (5 minutes, 2-5 slides) Note: As we go through each chapter in class, you can build your paper based on what you learnt in class Attendance and Class Participation Attendance in class is required Summer School policy requires attendance in all classes Missing three or more classes will result in 5% loss of grade The course and students also benefit from active participation Students are expected to contribute throughout the course While there is no formal assessment of participation, students on the borderline between two grades will get the “benefit of the doubt” if they have actively participated Here is a link to the Summer School policies around Student Responsibilities (http://www.summer.harvard.edu/policies/studentresponsibilities) Academic Integrity Policy for this course You are responsible for understanding Harvard Summer School policies on academic integrity and how to use sources responsibly Not knowing the rules, misunderstanding the rules, running out of time, submitting the wrong draft, or being overwhelmed with multiple demands are not acceptable excuses To support your learning about academic citation rules, please visit the Resources to Support Academic Integrity (http://www.summer.harvard.edu/resourcespolicies/resources-support-academic-integrity) where you will find links to the Harvard Guide to Using Sources and two free online 15-minute tutorials to test your knowledge of academic citation policy The tutorials are anonymous open-learning tools Accessibility Issues The Summer School is committed to providing an accessible academic community The Accessibility Office offers a variety of accommodations and services to students with documented disabilities Please visit http://www.summer.harvard.edu/resourcespolicies/accessibility-services for more information Tentative Class Schedule (BE: Brief Exercises; E: Exercises) DATE TOPIC HOMEWORK ASSIGNMENTS 6/21/2021 Chapter 01: Introduction Chapter 02: Accounting Process Chapter 03: Balance Sheet Chapter 04: The Income Statement Statement of Cash Flows Chapter 07: Cash and Receivables No assignment due 6/23/2021 6/28/2021 6/30/2021 Chapter 08: Inventories: Measurement 7/05/2021 Assignment BE: 1-3, 1-5, 2-4, 2-5, 2-6 E: 1-6, 1-9, 2-4, 2-6, 2-17 Assignment BE: 3-2, 3-5, 4-1, 4-2 E: 3-2, 3-7, 3-9, 4-2 Assignment BE: 7-3, 7-6, 7-7 E: 7-21 NO CLASS 7/07/2021 Chapter 10: Plant, Property and Equipment 7/12/2021 Midterm Exam (Chapters 1-4, 7-8) 7/14/2021 Chapter 11: Depreciation, Impairments, and Depletion 7/19/2021 Chapter 12: Investments 7/21/2021 Chapter 13: Current Liabilities and Contingencies 7/26/2021 Chapter 14: Bonds and Long-Term Debt 7/28/2021 Chapter 18: Shareholders’ Equity Chapter 19: Share-Based Compensation and Earnings Per Share Case study group discussion Final exam preparation 8/02/2021 8/04/2021 Assignment BE: 8-4, 8-5 E: 8-8, 8-13 No assignment due Assignment BE: 10-1, 10-2 E: 10-5, 10-6, 10-8 Assignment BE: 11-2, 11-7, 11-11 E: 11-1, 11-3 Assignment BE: 12-1, 12-2, 12-6 E: 12-2, 12-7, 12-9 Assignment BE: 13-4, 13-6 E: 13-5, 13-7 Assignment BE: 14-4, 14-6 E: 14-5, 14-7 Assignment 10 BE: 18-8, 18-11, 19-10, 19-13 E: 18-3, 18-15, 19-11, 19-18 Final Exam (chapters 10-14, 18, 19) Based on my experience, I would suggest that spending 8-12 hours every week should allow you to well in this course Those hours not include the six hours of class time but includes the time needed for doing the assigned homework In addition to asking questions about the materials covered in class, I encourage you to reach out to me with other academic issues such as writing recommendations or advice regarding career options and/or graduate work I wish you all the best and look forward to a productive and fun semester! Prof Vijay Sampath