BRAC BUSINESS SCHOOL

ACT201.4: Financial Accounting

“You have to understand accounting and you have to understand the nuances of accounting. It’s the
language of business and it’s an imperfect language, but unless you are willing to put in the effort to learn
accounting – how to read and interpret financial statements – you really shouldn’t select stocks yourself” –
Warren Buffett

Spring 2016
Class Location: UB10101
Monday & Wednesday (9:30 AM-10:50 AM)
Instructor: Sania Wadud (UB20507, [Link]@[Link])
Office Hours: Sun & Tues: 12:30 pm till 15:20 pm
Mon & Wed: 8:00am till 9:20am & 11:00am till 12:20pm
Thurs: 8:00am till 12:00pm (by appointment only)
I. Rationale:
Financial Accounting is designed to develop students’ knowledge and skills to manage the financial
affairs of individuals, communities, and businesses.

II. Course Aims and Outcomes:

Aims
This course aims at providing students with an in-depth knowledge of financial accounting
principles and techniques. It intends to expose students to the process by which financial
transactions and events are recorded, and will learn how to compile and interpret basic financial
statements. Students will develop the knowledge and skills necessary to (i) Prepare and maintain
financial records (ii) Manage financial affairs (iii) Act with integrity and (iv) Contribute to the wider
community.
Specific Learning Outcomes:
By the end of this course, students will be able to:
 Describe the system of accounting standards and principles.
 Demonstrate the accrual method of accounting and the accounting cycle.
 Prepare a balance sheet, income statement, statement of changes in equity.
 Identify the objectives and procedures of internal control.
 Account for short term investments and receivables, including bad debts.
 Account for the purchase, depreciation, and de-recognition of tangible and intangible long-term
assets.
 Analyze financial statements, utilizing horizontal and vertical analysis and ratio analysis.

III. Format and Procedures:

This course consists of two parts. In the first part, basic accounting principles and techniques are
taught. In the second part of the course, practice problems and cases are used to improve level
of understanding on analysis and business judgment.
IV. My Stance

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I plan to make this class interesting and fun, however it will also be fast paced, challenging, and
intense. This course will focus on sharing knowledge and co-operating with fellow members. Share
your thoughts and ideas regarding financial management, and most importantly, if you have a
question, please don’t hesitate to ask me. I am available during office hours, and by email.

V. Course Requirements:
1. Class attendance and participation policy: Students are required and expected to attend
all classes and participate in class discussions. Students who are unable to attend at least
70% of the total number of classes will not be allowed to sit for the final exam. As the
course covers a significant amount of content and a large extent of the learning from
problem solving, exercises, and discussions. Therefore, students are expected to read
the case studies and session readings before the class session.
2. Calculator: Please bring a calculator to class. Any calculator will be sufficient. Most importantly,
students will not be allowed to share anything during the quizzes/exams. Cellular phone
cannot be used as an alternative to calculator under any circumstance.
3. Pop Quizzes: There will be Six pop quizzes (unannounced) taken. The best four Quizzes’
results will be included in the overall mark for each student. Each quiz may include materials
covered in class up-to and including the week the test is held. There is absolutely no
provision for make-up class quizzes.
4. Assignments: There will be a number of individual assignments as classwork and homework
that to be completed during the term which will be graded under this category.
Assignments (Homework) must be submitted before the class begins. Late assignments
won’t be accepted.
5. Mid-term Examination: The mid-term examination will include descriptive questions, MCQ,
short notes and problem solving. This examination will test your knowledge of materials
discussed in class and the readings until the time of the mid-term examination. Make-up
exams can be arranged only in exceptional circumstances with adequate proof.
6. Final Examination: The final examination will have both descriptive and problem solving
parts. The final examination will be comprehensive and may contain material from
throughout the semester.
7. Course readings:
 Main Reading:
The required textbooks for this module are:
Weygandt, J. J., Kieso, D. E., Kimmel, P. D. (2014), “Accounting Principles”, 11th Edition.
International Student version. John Wiley &Sons, Inc.

 Supplementary texts Book:

Additional textbooks for this module are:
 Weetman, P. “Financial Accounting: An Introduction”, 5th Edition, Pearson.
 Kimmel, P.D., Weygandt, J.J., & Kieso D.E., (1998), “Financial Accounting: tools for
Business Decision Making”, USA, John Wiley & Sons, Inc.

VI. Grading Procedures:

Tasks Weight
Class Attendance 5%
Pop Quizzes 10%
Assignments (Class/Home work) 10%
Term Paper and Presentation 15%
Midterm Examination 20%
Final Examination 40%
Total 100%

Grading Policy: The grades will be awarded as per BRAC University’s grading policy as follows:

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 Marks Grade GPA Remarks
Allocation
VII. Academic 90 - 100 A 4 Excellent Integrity
 Students should make sure
that all 85 - 89 A‐ 3.7 Excellent submitted work is
their own. 80 - 84 B+ 3.3 Excellent Plagiarism is a
form of dishonest
practice. 75 - 79 B 3 Good Plagiarism is
defined as 70 - 74 B‐ 2.7 Good copying or
65 - 69 C+ 2.3 Good paraphrasing
another’s work and
presenting 60 - 64 C 2 Fair it as one’s own. In
practice 57 - 59 C‐ 1.7 Fair this means
plagiarism includes any
attempt in 55 - 56 D+ 1.3 Fair any piece of
submitted 52 - 54 D 1 Poor work (e.g. an
50 - 51 D‐ 0.7 Poor assignment or
test) to present as one’s
own work Below 50 F 0 Failure the work of
another (whether of
another student or a published authority). Any student found responsible for plagiarism in
any piece of work submitted for assessment shall be subject to the University’s dishonest
practice regulations which may result in various penalties, including forfeiture of marks for
the piece of work submitted, a zero grade for the paper. BRAC University reserves the right
to use plagiarism detection tools.
 The readings, supportive texts and cases have to be read and prepared before class.
 No headphones, cameras, recording device or texting during class will be allowed.
 Cell phone must be switched off during exam and should be kept in silent mode in the class.
 Kindness, courtesy, and respect is expected and appreciated by your fellow classmates and
the instructor.

VIII. Accommodations for students with disabilities

Students are encouraged to register with Student Disability Services to verify their eligibility for
appropriate accommodations. If it is cannot be made, I would expect students to be present in the
classroom on time.

IX. Tentative Course Schedule

Note on text problems: "Do" are problems that will help you prepare for class; but they do not have
to be submitted. "Opt" are problems that you could optionally do if you want more material to
study.
Lecture No Lecture Topic Assigned Reading
1 Course outline discussion and Introduction

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 2 Chapt 1: Study objective: 1-5
3 Chapt 1: Study objective 6-7
Accounting in Action
4 Do: E1-7, E1-8, E1-9;
P1-1A, P1-2A, P1-3A, P1-4A
5 Chapt 2: Study Objective 1-5
6 Chapt 2: Study Objective 6-7
The Recording Process
7 Do: P2-1A, P2-2A, P2-3A, P2-4A,
P2 -5A
8 Chapt 3: Study Objective 1-4
9 Chapt 3: Study Objective 5-7
Adjusting the Accounts
Do: E3-3, E3-4;
P3-1A, P3-3A, P3-6A
10 Chapt 4: Study Objective 1
11 Completing the Accounting Cycle Chapt 4: Study Objective 2-6
Do: P4-2A, P4-3A, P4-4A, P4-5A,
P4-6A
Mid-term Exam
(Date, Time & Venue will be announced in the class)
13 Chapt 18: Study Objective
14 Financial Statement Analysis Do: E18-1, E18-2, E18-11,
P18-2
15 Chapt 5: Study Objective 1-3
16 Chapt 5: Study Objective 4-6
Accounting for Merchandising Operations
Do: P5-1A, P5-2A, P5-4A, P5-5A,
P5-7A
17 Chapt 6: Study Objective 1-3
Accounting for Inventories
18 Chapt 6: Study Objective 4-6
19 Accounting for Long-term Assets Chapt 10: Study Objective 1-3
20 Chapt 10: Study Objective 4-6
Do: P10-1A, P10-2A
21 Corporations: Organizations and Capital Chapt 13: Study Objective 1-3
22 Stock Transactions Chapt 13: Study Objective 4-6
Do: P13-1A, P13-2A, P13-5A,
P13-6A
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Presentation
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Comprehensive Final Exam

X. Additional Resource Readings & Web Links

 Harvard Business Review
XI. Class Representatives
The class (or student) representative system is an avenue for encouraging communication and
consultation between staff and students. It provides you with a vehicle for communicating your
views on the teaching and delivery of the paper and provides staff with an opportunity to
communicate information and gain constructive feedback from students. It contributes to the
development of a sense of community within a department and it adds a further dimension to the
range of support services offered to students. Volunteers for the role of class representatives will
be called early in the semester.
XII. Disclaimer
While every effort is made to ensure that the information contained in this document is accurate, it
is subject to change. Changes will be notified in class. Students are encouraged to check with the
lecturer if there are any doubts. It is the student’s responsibility to be informed.