accounting 211 financial and managerial accounting
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Accounting 211 Financial and Managerial Accounting. Teaching Assistant Hyun Jung (Joan) Lee. Contents. 1. Introduction Let me INTRODUCE~ Course Introduction Textbook - PowerPoint PPT PresentationTRANSCRIPT
Accounting 211Financial and Managerial Accounting
Teaching Assistant
Hyun Jung (Joan) Lee
Spring , 2008Spring , 20082
Contents
1. Introduction Let me INTRODUCE~
Course Introduction
Textbook
Evaluations
Makeup Exam
WileyPlus
2. Review of Chapter2
3. Practice
Introduction1
Spring , 2008Spring , 20084
Hyun Jung (Joan) Lee, 1st year Accounting Ph.D. studentBackground
B.S. in StatisticsB.S. in Statistics
M.B.A. in FinanceM.B.A. in Finance
Korean Institute of Certified Public AccountantsKorean Institute of Certified Public Accountants
Korean Institute of Certified Tax Accountants Korean Institute of Certified Tax Accountants
Senior Associate, PricewaterhouseCoopers (PwC), 2001-2006Senior Associate, PricewaterhouseCoopers (PwC), 2001-2006
Office : 381A Business Building, 814-863-3796Office Hour : 8 AM. ~ 10:00 AM on TuesdayEmail : [email protected] Blog : www.personal.psu.edu/hul152
Let me INTRODUCE~
Spring , 2008Spring , 20085
In-Class Lecture
Face-to-face meeting with instructorFace-to-face meeting with instructor
Section 04 : T R 08:00A - 09:15A, 105 FORUMSection 04 : T R 08:00A - 09:15A, 105 FORUM
Section 11 : T R 02:30P - 03:45P, 105 FORUMSection 11 : T R 02:30P - 03:45P, 105 FORUM
Section 17 :Section 17 : T R 04:15P - 05:30P, 105 FORUM T R 04:15P - 05:30P, 105 FORUM
Lab Recitation
Course Introduction Lecture
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Recitation with “ME” on FRIDAY!!
Section 04 : F 2:30-3:45PM, 106 BusinessSection 04 : F 2:30-3:45PM, 106 Business
Section 11 : F 8:00-9:15AM, 106 Business Section 11 : F 8:00-9:15AM, 106 Business
Section 17 :Section 17 : F 09:45-11:30AM, 362 WILLARDF 09:45-11:30AM, 362 WILLARD
(Note: If you miss the assigned recitation, you can attend any other (Note: If you miss the assigned recitation, you can attend any other two recitations)two recitations)
Course Introduction, cont. Recitation
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Textbook Accounting, 2nd ed. with WileyPLUS by Paul Kimmel et al. Accounting, 2nd ed. with WileyPLUS by Paul Kimmel et al.
Three options as to type of book to purchase: Three options as to type of book to purchase:
(a) to buy a standard book(a) to buy a standard book
(b) to buy a binder ready version of the book(b) to buy a binder ready version of the book
(c) an electronic copy of the book(c) an electronic copy of the book
(everything in the book is in this version).(everything in the book is in this version).
Have Fun!!~ Sample Quizzes, Crossword Puzzles and Electronic Flash Cards Sample Quizzes, Crossword Puzzles and Electronic Flash Cards and some interactive tutorialsand some interactive tutorials
Textbook
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Grading componentsProfessor Ketz : Financial AccountingProfessor Ketz : Financial Accounting
Professor Huddart : Managerial Accounting Professor Huddart : Managerial Accounting
Number Grade = 2/3 * Financial Acc. +1/3*Managerial Acc.Number Grade = 2/3 * Financial Acc. +1/3*Managerial Acc.
Financial AccountingHomework : WileyPlusHomework : WileyPlus
Exam 1 : Feb 13, 8:15 to 10:00 PM.Exam 1 : Feb 13, 8:15 to 10:00 PM.
Exam 2 : Mar 26, 8:15 to 10:00 PM. Exam 2 : Mar 26, 8:15 to 10:00 PM.
Each components weighted one-thirdEach components weighted one-third
Evaluation
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Ask “W.G. Deng” for PERMISSION
Contact Information
Office : 350A Business BuildingOffice : 350A Business Building
Phone : 863-5467Phone : 863-5467
Email : [email protected] : [email protected]
Office Hours : Mon & Thrs from 1pm until 3pm and by appointment.Office Hours : Mon & Thrs from 1pm until 3pm and by appointment.
Only one chance to take it
Makeup for the First Exam : Makeup for the First Exam : Feb 23th on SaturdayFeb 23th on Saturday
Makeup for the Second Exam : Makeup for the Second Exam : April 5th on SaturdayApril 5th on Saturday
Make-up Exam Assignments
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For Registering
http://www.wiley.com/college/twomin/stu/register.htmlhttp://www.wiley.com/college/twomin/stu/register.html
The URL : http://edugen.wiley.com/edugen/class/cls49425/The URL : http://edugen.wiley.com/edugen/class/cls49425/
WileyPlus Online Homework
Review of Chapter2 2
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Balance Sheet
Income Statement
Statement of Changes in Owners’ Equity
Statement of Cash Flows
Solving Approach by transaction perspective
Income StatementIncome Statement
Statement of Changes in Owners’ EquityStatement of Changes in Owners’ Equity
Balance SheetBalance Sheet
Statement of Cash Flow Statement of Cash Flow
Financial Statements Overview
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Balance Sheet Describe the financial situation of a specific point in timeDescribe the financial situation of a specific point in time
Accounting Equation Assets = Liabilities + Owner’s Equity Assets = Liabilities + Owner’s Equity
Components Assets : Economic resources owned by the businessAssets : Economic resources owned by the business
Liabilities : Obligations of the business to creditorsLiabilities : Obligations of the business to creditors
Equity : Owner’s claims to the assets of the companyEquity : Owner’s claims to the assets of the company
Contributed capital & Retained earnings
Retained Earnings (R/E) Retained Earnings (R/E)
End of R/E = Beginning R/E + Net Income – Dividends
Financial Statements Balance Sheet
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Income Statement Show all revenues minus all expenses for an accounting periodShow all revenues minus all expenses for an accounting period
Statement of changes in Owners’ Equity Show the changes that took place in the amount of owners’ equity Show the changes that took place in the amount of owners’ equity during the period during the period
End of Contributed Capital (C/C) + End of Retained EarningsEnd of Contributed Capital (C/C) + End of Retained Earnings
End of C/C = Beginning of C/C + Stock Issued during that periodEnd of C/C = Beginning of C/C + Stock Issued during that period
End of R/E = Beginning R/E + Net Income – Dividends
Financial Statements, conti.
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Statement of Cash FlowsShow all the cash inflows and all the cash outflows for a specific Show all the cash inflows and all the cash outflows for a specific period with the revenues and expenses for the same period in the period with the revenues and expenses for the same period in the income statementincome statement
Three Sections Cash from Operating ActivitiesCash from Operating Activities
Cash from Investing ActivitiesCash from Investing Activities
Cash from Financing ActivitiesCash from Financing Activities
Check the below two amounts are EQUAL!!! End of Cash Amounts in Statement of Cash FlowsEnd of Cash Amounts in Statement of Cash Flows
Cash Amounts in Balance SheetCash Amounts in Balance Sheet
Financial Statements, conti. Statement of C/F
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Liquidity
Can a company pay the bills as they come due?
Solvency
Can the company survive over a long period of time?
Profitability
Can a company earn a satisfactory rate of return?
Market indicators
Is the stock a good investment?
Cash Flow: pretty obvious after March 18th
Ratio Classification
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15 Ratios
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15 Ratios, conti.
3Practice!!!
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Problem 2
Problem 7
Practice
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Do you have any questions?
Welcome to Accounting World!!~
381A Business Building
814-863-3796, [email protected]