BUSN 5600: Accounting Theory and Practice

Course Description

Students examine the accounting function and its role in modern business. Basic accounting theory and principles are examined, and some of the more important contemporary accounting developments are reviewed. Problems and cases are analyzed with an emphasis on situations from the student's own work experiences. This course is designed for consumers as opposed to producers of accounting.

Prerequisites

There are no formal prerequisites to BUSN 5600. However, it is assumed the student has appropriate graduate level writing, mathematical, and analytical skills. Also, as for all graduate courses, the student must be disciplined and self-motivated.

Course Level Learning Outcomes

1. Students have basic knowledge of the concepts, technical rules of generally accepted accounting principles (GAAP), and the application of these rules to the business environment.: - Students have basic knowledge of the concepts and technical rules of generally accepted accounting principles (GAAP). In addition, students can apply GAAP in specific business situations and analyze how GAAP affects financial reporting.
2. Students read, interpret, and analyze the primary financial statements and the annual report.: - Students read, interpret, and analyze the annual report, including the primary financial statements (income statement, balance sheet, and the statement of cash flows) as well as the related notes and other disclosures accompanying the financial statements.
3. Students read and analyze the balance sheet.: - Students read and analyze the balance sheet and make judgments about the financial condition of the firm.
4. Students read and analyze the income statement.: - Students can read and analyze the income statement and make judgments about the profitability of the firm.
5. Students read and analyze the statement of cash flows.: - Students determine cash flows from operating, investing, and financing activities. In addition, students reconcile accrual accounting income with cash flows.
6. Students use accounting information to make judgments about firm performance.: - Students use the financial statements to make informed judgments and decisions relative to the information presented in the financial statements, including trend analysis, profitability analysis (ROI and ROE), and liquidity analysis.

Course Materials

Please go to MBS Direct to find the appropriate textbooks for this course.

Please be aware when purchasing your textbooks that the International versions of the text may differ from the Domestic (North American) version required for your course.

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Course Activities

The course will be concluded entirely online. Students are expected to participate in all course activities as assigned by the instructor. Course activities may include discussions, weekly assignments, quizes, case studies, and learner assessments. However, individual instructors may incorporate other activities into the course materials.

Grading

The GRADUATE catalog provides these guidelines adn grading options:

A/A–	Superior graduate work
B+/B/B–	Satisfactory graduate work
C	Work that is barely adequate as graduate-level performance
CR	Work that is performed as satisfactory graduate work (B– or better). A grade of “CR” is reserved for courses designated by a department, involving internships, a thesis, practicums, or specified courses.
NC	Unsatisfactory graduate work *(School of Education only)*
F*	Work that is unsatisfactory *The School of Education (MAT, MA and EdS) does not utilize the “F” Grade.
I	Incomplete work
ZF	An incomplete which was not completed within one year of the end of the course. ZF is treated the same as an F or NC for all cases involving GPA, academic warning, probation, and dismissal.
IP	In progress
W	Withdrawn from the course

A student in the School of Education may choose to receive Credit/No Credit, rather than a letter grade, by completing a grade choice form by the second week of classes. Education students must complete 33 credit hours with a B average or the equivalent.

Grades are available on the Internet to all students at the end of each scheduled term. (A hard copy is available upon request and may be requested online via the Academic Services Channel within Connections.)

Policy Statements

University policies are provided in the current course catalog and course schedules. They are also available on the university website. This class is governed by the university’s published policies. The following policies are of particular interest:

Academic Honesty

The university is committed to high standards of academic honesty. Students will be held responsible for violations of these standards. Please refer to the university’s academic honesty policies for a definition of academic dishonesty and potential disciplinary actions associated with it.

Drops and Withdrawals

Please be aware that, should you choose to drop or withdraw from this course, the date on which you notify the university of your decision will determine the amount of tuition refund you receive. Please refer to the university policies on drops and withdrawals (published elsewhere) to find out what the deadlines are for dropping a course with a full refund and for withdrawing from a course with a partial refund.

Special Services

If you have registered as a student with a documented disability at the Academic Resource Center (ARC) and are entitled to classroom or testing accommodations, please verify with your instructor at the beginning of the class that the instructor has received your accommodations letter from the ARC. If you have a disability and need academic accommodations but have not been documented with the ARC, please contact Barbara Stewart at (314)-968-7495 or stewart@webster.edu . Contacting the ARC to complete ADA documentation is the only way to ensure you may receive reasonable accommodations.

Disturbances

Since every student is entitled to full participation in class without interruption, disruption of class by inconsiderate behavior is not acceptable. Students are expected to treat the instructor and other students with dignity and respect, especially in cases where a diversity of opinion arises. Students who engage in disruptive behavior are subject to disciplinary action, including removal from the course.

Student Assignments Retained

From time to time, student assignments or projects will be retained by The Department for the purpose of academic assessment. In every case, should the assignment or project be shared outside the academic Department, the student's name and all identifying information about that student will be redacted from the assignment or project.

Contact Hours for this Course

It is essential that all classes meet for the full instructional time as scheduled. A class cannot be shortened in length. If a class session is cancelled for any reason, it must be rescheduled.

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