Time Schedule:
Elizabeth Widdison
ACCTG 375
Seattle Campus
Critical examination of the uses and limitations of general purpose financial statements that have been prepared in accordance with generally accepted accounting principles. Not open for credit to accounting majors or to students who have completed 301. Prerequisite: 2.0 in ACCTG 225; may not be repeated.
Class description
This course provides non-accounting majors the tools to understand and analyze general purpose financial statements at a somewhat sophisticated level so that information from "behind the numbers" can be extracted. The material builds on topics presented in the 200 level introductory financial accounting courses with an emphasis on the student becoming an informed and critical reader of financial statements. By the end of the course, students will be able to read and understand financial statement information, interpret the footnotes, and recognize how choices about accounting procedures and policies affect the numbers as reported. The topic of earnings management is central to the course and discussed extensively.
Student learning goals
General method of instruction
The class meets for 110 minutes twice a week. Each class has two parts. The first 40 minutes is used to review and discuss homework assigned from the previous class. This is followed, after a short break, by a one-hour lecture/discussion on a new topic. Lectures may include practical activities to be worked in class. Teamwork is encouraged, and both in-class and external assignments may be worked in groups.
Recommended preparation
In addition to having satisfied the course prerequisites identified above, students should have an interest in extending their knowledge of accounting to more advanced concepts so as to be able to extract as much information as possible from the financial statements. A knowledge and understanding of present value concepts is expected.
Class assignments and grading
Assignments consist of text problems, instructor-prepared activities, two examinations, and a group research paper. The homework problems are mostly analytical in nature. Instructor-prepared activities relate to real-life companies. The group research paper requires an in-class presentation as well as a hard-copy report. There is one mid-term and one final examination. The final exam is not comprehensive.
The course grade is based on performance on homework assignments, the two examinations, the research paper and presentation, and class participation.
