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Schedule of Help Sessions (revised 8/26/00) Overview to course Schedule Details of course Schedule
Overview to course Schedule September – On campus:
The basics & an intro to real-world financial reporting · Wed, 9/6, pm – Introduction & preparing financial statements [Pes Stmt; Haystack] · Thur, 9/7 am – More preparing fin. Stmts [Lookoout]; Alt models [Rouse] · Fri, 9/8 pm – Still more preparing fin. Stmts [Chemalite]; reconstructing fin. transactions [Amazon] September – Off campus: Financial analysis · Sat, 9/16 – Stmt of cash flows -- indirect [Chemalite] · Sat, 9/23 – Financial statement analysis [Iomega (A)] · Sat, 9/30 – Pro forma financial stmts [Iomega (B)] October – On campus:
Real world accounting for assets · Thur, 10/5, am – Asset valuation/Revenue recognition [Th. Trails; AK Gold] · Fri, 10/6, pm – Inventories/CGS [Joe’s TV]; other LT assets [Microsoft] October – Off campus: review of assets; exam;
introduction to liabilities · Sat, 10/14 – Asset valuation/revenue recognition/intangible assets [iVillage] · Wed, 10/18 – Midterm exam due (by midnight) · Sat, 10/28 – Liabilities and the present value concept [Disney] November – On campus: Real world
accounting for liabilities · Thur, 11/2, am – Leases; income taxes [SW Airlines] · Fri, 11/3, am – Stock options [Microsoft]; Investment in other corporations [Coke vs. Pepsi] November – International accounting; Project · Sat, 11/11 – Financial reporting in other countries [tba] ·
Mon, 11/27 – Written project due Nov/Dec – On campus: Quality of earnings; takeaways;
more learning from each other · Fri, 11/30, am – Earnings quality; takeaways · Sat, 12/2, pm – Project presentations December – Off campus: final exam · Tue, 12/5 – Final exam due (by midnight) COURSE OUTLINE DETAILS
Part I.
Financial Accounting -- The Basics
Topics in this first part of the course are designed to introduce the
basic principles and jargon of financial accounting.
By the end of Part I, you should: •
have an appreciation for the assumptions behind historical cost financial
reporting, •
be able to prepare a set of simple financial statements from the
underlying transactions, and •
begin to be able to work with
real-world financial statements. Off
Campus – pre-course reading (materials sent in July)
Topic:
Getting a head start on the jargon and concepts of Financial Accounting Reading:
Anthony and Pearlman’s Essentials of Accounting On
Campus – Days 1, 2 and 3 (materials sent in August)
Day
1: Wednesday, 9/6; Session 3 (after lunch) Topic:
Introduction to the Accounting Identity Reading:
SW[1]:
Chap. 1 Text
exercises & problems: SW: Q 1.16 Cases:
Personal Statement of Assets & Liabilities (not to be turned
in)
Haystack Bookstore#[2](Q
1) Day
1: Wednesday, 9/6; Session 4 Topic:
Introduction to Preparing Financial Statements Reading:
SW: Chap. 2 Text
exercises & problems: SW: Q 2.12, 2.13 Case:
Haystack Bookstore#(Q 2) __________________________________ Day 2: Thursday, 9/7; Session 1Topic:
Preparing Financial Statements Reading:
SW: Chap. 3
SW: Chap. 4 (pp. 168-173 only!) Handout:
“Debit-Credit Conventions” Text
exercises & problems: SW: Q 2.30, 3.27 Case:
Lookout Inn* Day
2: Thursday, 9/7; Session 2 Topic:
Historical Cost model versus alternative Asset Valuation Bases Reading:
SW: Chap. 2 (pp. 45-51) Text
exercises & problems: SW: Q 2.6; 2.8 Case:
The Rouse Company* __________________________________ Day 3: Friday, 9/8; Session 3Topic:
Preparing Financial Statements for a manufacturing firm Reading:
SW: Chap. 7 (pp. 356-364) Text
exercises & problems: SW: Q 7.43 Case:
Chemalite* Day
3: Friday, 9/8: Session 4 Topic:
Reconstructing Financial Events Reading:
SW: Chaps. 1-4 (pp. 1-173) Handout:
“Reconstructing Financial Events”
Example
case: Egghead (1991)* – questions 1-6 only. Case:
Amazon.com* __________________________________ Off Campus – September (materials available in September)
__________________________________ Extra
Optional Review Case Embanet
discussion open: Monday, 9/11 through Saturday, 9/16 Topic:
Review of Financial Statement preparation, e.g., Haystack, Lookout &
Chemalite cases Case:
Lake Michigan Gasket [hint:
avoid “overuse” of the solution!] __________________________________ Part II. The Real World of
Financial Reporting
Topics
in this part of the course are designed to introduce more of the dreaded details
necessary to begin to cope with the complexities of real world financial
reporting. By the time we've
completed this material, you should: •
have an appreciation for the assumptions behind the recording of revenues
and expenses, and recognize that they may differ dramatically from the
underlying cash flows; •
to an increasing degree, be able to reconstruct events from published
financial statements; •
to an increasing degree, be able to interpret financial statements and
relate them to the strategies of the firm being studied (as well as to your own
company). __________________________________ Due date: Saturday, 9/16Topic:
Statement of Cash Flows -- indirect method Reading:
SW: Chapter 4 (especially pp. 168-174 and 180-201)
“R. McDonald, CPA”
“TWA’s cash-flow picture is…”
“The bean counter as hero” Text
exercises & problems: SW: Q 4.27 Case:
Chemalite (indirect method Statement of Cash Flows) [Note that all
off-campus cases are study group assignments but it is important for each of you
to work each case individually first] __________________________________ Due date: Saturday, 9/23Topic:
Financial Statement Analysis Reading:
SW: Chap. 5 [Also refer back
to Bill Burrows’ math lesson 1, working with ‘ratios’]
Assorted articles illustrate “Uses of accounting information?” Handout:
Definitions of common financial ratios Text
exercises & problems: SW: Q 5.29 Case:
Iomega (A)# [study
group assignment] __________________________________ Due date: Saturday, 9/30Topic:
Pro forma Financial Statements Reading:
SW: Chap. 5 (appendix 5.1, pp. 264-275); Excerpts from Higgins, Analysis
for Financial Management; assorted articles about “Earnings
announcements” Case:
Iomega (B)# [will
be made available by Sunday, 9/24 – study group assignment]
__________________________________ On Campus – Days 4 and 5__________________________________ Day 4: Thursday, 10/5; Session 1Topic:
Asset Valuation and Revenue Recognition Reading:
SW: Chap. 6
Assorted articles illustrating “Issues related to revenue
recognition” (also for Day 5 below) Text
exercises & problems: SW: Q 6.16, 6.33 Cases:
Thousand Trails Day
4: Thursday, 10/5; Session 2 Topic:
Asset Valuation and Revenue Recognition Reading:
same as above Handout:
“Alaska Gold Company T-accounts” Text
exercises & problems: SW: Q 6.32 Case:
Alaska Gold* [hint: complete the “Alaska Gold T-accounts” provided] __________________________________ Day 5: Friday, 10/6; Session 3Topic:
Inventory Valuation and CGS Reading:
SW: Chap. 7
Assorted readings on “Inventory valuation” Text
exercises & problems: SW: Q 7.30, 7.35, 7.52 Case:
Joe's TV (A)
Joe's TV (B) – in class Day
5: Friday, 10/6; Session 4 Topic:
Accounting issues in the “new economy” (e.g,
long-lived assets, intangible assets, intellectual property) Reading:
SW: Chapter 8
Assorted readings on “What is an Asset anyway?”
Assorted readings on “Impaired and intangible assets” Text
exercises & problems: SW: Q 8.20,[3]
8.41, 8.43 Case:
Microsoft’s Financial Accounting Reporting Strategy [warning: long
case] __________________________________ Optional
Friday Evening Help Session #1: Intro
to the Present Value concept [materials will be distributed later] Optional
Friday Evening Help Session #2: Review
sample midquarter exam [materials
will be distributed later] __________________________________ Off Campus – October__________________________________ Due date: Saturday, 10/14Topic:
Accounting issues for the “new economy” Reading:
SW: Chapter 8
Review readings on “What is an Asset anyway?” from Day 5 above
Review readings on “Impaired and intangible assets” from Day 5 above Text
exercises & problems: SW: Q 8.39, 8.50 Case:
iVillage [group assignment] __________________________________ Mid-quarter
Exam available Sunday, October 15, 2000 Due
date: Wednesday, October 18, 2000 at midnight __________________________________ Due date: Saturday, 10/28 Topic:
Liabilities and the Present Value Concept
[Also refer back to Bill Burrows’ math workshop, lesson 6
“mathematics of finance”] Reading:
SW: Appendix, pp. 825-842 (on the concept of compound interest and
present value)
SW: Chap. 9 (on the valuation of liabilities)
Assorted readings related to “Long-term debt” Handout:
Examples of Notes issued at par, discount, premium (with solution) Text
exercises & problems: SW: Q 9.26, 9.27, 9.28 Example
case: J.C. Penney Co.#
(with solution) Case:
The Walt Disney Company#
[group assignment] __________________________________ On Campus – Days 6 and 7Day 6: Thursday, 11/2, sessions 1 and 2Topic
#1: Leases and Off-Balance Sheet Financing Reading:
SW: Chap. 10, pp. 536-547 & appendix 10.1, pp. 564-565 Text
exercises & problems: SW: Q 10.24, 10.27 Case:
SW Airlines (A) Topic
#2: Accounting for Income Taxes Reading:
SW: Chap. 10, pp. 547-556 & appendix 10.1, pp. 564-565 Text
exercises & problems: SW: Q 10.30, 10.31 Case:
SW Airlines (B) __________________________________ Day 7: Friday, 11/3; Session 1Topic:
Deferred Compensation (including Stock Options) Reading:
SW: Chap. 10, pp. 556-558
SW: Chap. 12 (especially pp. 682-690)
Assorted readings on “Accounting for deferred compensation” Text
exercises & problems: SW: Q 12.9, 12.10, 12.22 Case:
Microsoft’s Employee Stock and Savings Plans* Day
7: Saturday, 11/3; Session 2 Topic:
Accounting for Intercompany Investments Reading:
SW: Chap. 11
Assorted readings on “Intercorporate investments”
“Coke is kicking Pepsi’s Can” Text
exercises & problems: SW: Q 11.21, 11.24 Case:
Coke versus Pepsi* __________________________________ Off Campus – NovemberDue date: Saturday, 11/11Topic:
Financial reporting in other countries Reading: SW: Chap. 14 (pp. 772-780); also see SW sidebars on pp. 23-25; 70-75; 198; 260; 330; 381-382; 443; 563-564; 614; 676-677 Case:
tba __________________________________ Due
date: Monday, 11/27/00 -- PROJECTS# DUE (Postmarked or Delivered)
TODAY __________________________________ On
Campus – Days 8 and 9
Day 8; Thursday, 11/30; Session 1Topic:
Management’s Choice of Accounting Policies and the Quality of Earnings Reading:
SW: Chap. 14
Assorted readings on the “Quality of earnings” Text
exercises & problems: SW: Q 14.15 Case:
Harnischfeger Day
8: Thursday, 11/30; Session 2; takeaways __________________________________ Optional
Friday Evening Help Session: Review
sample final exam [materials
will be distributed later] __________________________________ Day
9: Saturday, 12/2; Sessions 3 &
4; selected study group presentations __________________________________ Off
Campus – December
Final
Exam available Saturday evening, December 2, 2000 Due
date: Tuesday, 12/5/00, midnight in the EMBA 506B exam folder
[1] (SW) = Stickney and Weil, Financial Accounting, 9th Edition (Dryden); 2000. [2] A number sign (#) indicate that significant use of a spreadsheet can be made on this case (but this is not required). * An asterisk (*) indicates that, at a minimum, this case should be read thoroughly and an answer sketched out before coming to campus. If you are unable to outline an answer, you should at least formulate questions to be discussed in your study group and in class. Regardless, it is important to complete the assignment prior to class. [3]
Assigned because you should know something about alternative depreciation
methods. EMBA
506B (Fin Reporting) Help Sessions
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