University of Manitoba

Faculty of Agriculture Department: Agribusiness and AgEconomics

Financial Management I

ABIZ 0460

Fall 2019

TABLE OF CONTENTS

COURSE DETAILS .................................................................................................................................................... 2 INSTRUCTOR CONTACT INFORMATION .................................................................................................................. 2 GENERAL COURSE INFORMATION .......................................................................................................................... 3 COURSE GOALS ...................................................................................................................................................... 4 INTENDED LEARNING OUTCOMES ......................................................................................................................... 4 USING COPYRIGHTED MATERIAL ........................................................................................................................... 5 RECORDING CLASS LECTURES ................................................................................................................................ 5 TEXTBOOK, READINGS, MATERIALS ....................................................................................................................... 5 COURSE TECHNOLOGY ........................................................................................................................................... 6 CLASS COMMUNICATION....................................................................................................................................... 6 EXPECTATIONS: I EXPECT YOU TO .......................................................................................................................... 6 STUDENTS ACCESSIBILITY SERVICES ....................................................................................................................... 8 EXPECTATIONS: YOU CAN EXPECT US TO ............................................................................................................... 8 CLASS SCHEDULE AND ASSIGNMENTS .................................................................................................................... 9 GRADING ............................................................................................................................................................. 10 REFERENCING STYLE ............................................................................................................................................ 12 ASSIGNMENT GRADING TIMES ............................................................................................................................ 12 ASSIGNMENT EXTENSION AND LATE SUBMISSION POLICY .................................................................................. 12

ABIZ 0460 – Financial Management I Page 2

COURSE DETAILS Course Title & Number:

Financial Management I – ABIZ 0460

Number of Credit Hours: Pre-Requisites:

4 None

Class Times & Days of Week:

Lectures A01: Monday 10:30am – 11:45am Room 130 Agriculture Friday 12:00pm – 1:15pm Room 270 EITC E3 Labs B01: Friday 1:30pm – 2:45pm Room 172 Agriculture B02: Friday 3:00pm – 4:15pm Room 172 Agriculture *The class will be split into two lab groups. Group 1 will have the B01 (1:30) lab time for the first 4/8 labs, Group 2 will have the B01 (1:30) slot for the last 4/8 labs.

Instructor Contact Information Instructor(s) Name:

Garrett Sawatzky – Instructor

Office Phone Number: (204) 474-9236 ext. 1

Office Location: 164B Agriculture Building

Email Address: garrett.sawatzky@umanitoba.ca

Teaching Assistants: Easton Sellers, Brodie Erb

Preferred Form of Address: Email:

Garrett, Easton, Brodie

All email communication must conform to the Communicating with Students university policy. It must come from a university email. Emails received from personal accounts will not get a response. Email response time will vary; we will attempt to get back to you by the next business day.

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Course Description

Undergraduate Calendar Description

The study of accounting principles and financial information for the preparation and presentation of financial statements to facilitate the management of farms and agricultural businesses. This course weaves together with the Applied Farm Management and Farm Management Project 1 and 2 courses. It creates a framework for the financial portion of the project. Students are expected to carry over and apply the concepts covered in this course to their Farm Management Project moving forward.

General Course Information Why this course is useful? This course is useful because it allows students to develop a basic understanding of the fundamentals of financial management. This knowledge will be put into practice in the Farm Management Project and in future endeavours as a farm manager; or working alongside farm managers in the agriculture industry. Who should take this course? This course is a mandatory requirement for all Agriculture Diploma students. It is particularly useful for farm managers and anyone working in the agriculture service industry (ag lending, sales, agronomy, feed industry, etc.) It also serves purpose for general management of financial issues that are not necessarily applicable solely to agriculture. How this course fits into the curriculum Similar to other courses offered in the Agriculture Diploma program, concepts from Financial Management 1 will be utilized moving forward in your Farm Management Project to complete a comprehensive farm business plan. This course covers the financial aspect of farm management that will be the foundation required to successfully move forward into the 1st year course: Applied Farm Management, and 2nd year courses: Farm Management Project 1 and 2.

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Course Goals 1. To introduce you to concepts relating to financial management essential to managing an

agribusiness 2. To give you a framework of financial management skills to apply to your farm business

plan in the diploma program and beyond 3. Upon completing this course, students should be able to look at a set of financial

statements and be able to analyze the financial health of the business

Instructional Methods

1. Lectures 2. iClicker 3. Weekly UM Learn Quizzes (8) 4. Labs with lab assignments (8)

Intended Learning Outcomes Learning outcomes assist:

i) students to identify the knowledge, skills, attitudes and personal attributes expected of them to successfully complete their program of studies;

ii) faculty to develop learning goals and objectives in their courses and programs, in prioritizing and focusing the learning experiences, and in the selection of appropriate assessment tools and;

iii) Potential students and outside agencies to assess the quality of our academic programs.

These learning outcomes include:

1. Students will familiarize themselves with financial statements and become comfortable creating and analyzing them

2. Students will be able to calculate depreciation-type calculations 3. Students will be able to perform loan calculations 4. Students will become familiar with the basics of accounting transactions 5. Students will differentiate between accrual and cash accounting systems and perform

accrual adjustments 6. Students will develop preliminary skills required to reconcile financial statements 7. Students will be able to analyze a set of financial statements using financial ratios 8. Students will become familiar with how basic capital cost allowance, GST, and income

tax works in the context of a farm business 9. Students will apply their financial management skills to their farm business plan 10. Students will develop an awareness of financial management concepts relevant to

everyday life 11. Students will develop their critical thinking skills in the area of farm financials

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Using Copyrighted Material Please respect copyright. We will use copyrighted content in this course. I have ensured that the content I use is appropriately acknowledged and is copied in accordance with copyright laws and University guidelines. Copyrighted works, including those created by me, are made available for private study and research and must not be distributed in any format without permission. Do not upload copyrighted works to a learning management system (such as UM Learn), or any website, unless an exception to the Copyright Act applies or written permission has been confirmed. For more information, see the University’s Copyright Office website at http://umanitoba.ca/copyright/ or contact um_copyright@umanitoba.ca.

Recording Class Lectures No audio or video recording of lectures or presentations is allowed in any format, openly or surreptitiously, in whole or in part without permission by the speaker.

Textbook, Readings, Materials Materials Required:

iClicker Cloud/Reef Subscription – https://news.umanitoba.ca/iclicker-reef-a-

new-and-free-mobile-app-for-students/

iClicker will be used to evaluate attendance and participation in the lectures

Download iClicker Reef App and join ‘Financial Management I’ to enable free reef

subscription; *PURCHASING A PHYSICAL ICLICKER IS NOT NECESSARY*

Microsoft Office - http://www.umanitoba.ca/computing/ist/email/2397.html

*Microsoft Excel (use of other programs such as Numbers, OpenOffice, GoogleDocs, etc.

will not be graded) *Free when you get your UM Net ID

Laptop Computer

A Laptop Computer is required for use in labs (Program requirement)

Supplemental Reading (Not Required):

Farm Management 8th Edition. Kay, Edwards, Duffy

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Course Technology

It is the general University of Manitoba policy that all technology resources are to be used in a responsible, efficient, ethical and legal manner. The student can use all technology in classroom setting only for educational purposes approved by instructor and/or the University of Manitoba Disability Services. Student should not participate in personal direct electronic messaging / posting activities (e-mail, texting, video or voice chat, wikis, blogs, social networking (e.g. Facebook) online and offline “gaming” during scheduled class time. If student is on call (emergency) the student should switch his/her cell phone on vibrate mode and leave the classroom before using it. (©S Kondrashov. Used with permission). *UM Learn will be used to post course content such as PowerPoints, assignments, quizzes, reviews, grades, etc. I will do my best to post lecture material a day before class if at all possible so that notes can be printed off for those want to do so. Students should check UM Learn regularly to stay informed.

Class Communication The University requires all students to activate an official University email account. For full details of the Electronic Communication with Students please visit: http://umanitoba.ca/registrar/email_policy/

Please note that all communication between myself and you as a student must comply with the electronic communication with student policy (http://umanitoba.ca/admin/governance/governing_documents/community/electronic_communic

ation_with_students_policy.html). You are required to obtain and use your U of M email account for all communication between yourself and the university.

Expectations: I Expect You To Students are expected to:

seek clarification from instructor if required, regarding the contents of this course outline

Seek help from your instructor if you do not understand a concept after first making an honest effort to troubleshoot the problem yourself

attend all classes and actively participate in in-class activities

make arrangements to obtain information presented when extra-ordinary

comply with all University of Manitoba Policies and Procedures including the Respectful Work and Learning Policy which requires all to staff and students to be respectful of others in and outside of the classroom. In the classroom it means listening attentively and not disturbing others by talking, texting, or using other electronics for entertainment purposes. Use of cell phones and all other personal communication devices in the classroom is prohibited.

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regularly access UM Learn site for course information, due dates, news items, grades, etc.

check their University of Manitoba e-mail account daily to access course information Academic Integrity: Plagiarism or any other form of cheating in examinations, term tests or academic work is subject to serious academic penalty. Cheating in examinations or tests may take the form of copying from another student or bringing unauthorized materials into the exam room. Exam cheating can also include exam impersonation. A student found guilty of contributing to cheating in examinations or term assignments is also subject to serious academic penalty. Students should acquaint themselves with the University’s policy on plagiarism, cheating, exam impersonation, and duplicate submission (see the University of Manitoba Undergraduate Calendar: ). Students should contact their instructor if they have any questions or require clarification about academic integrity issues. http://www.umanitoba.ca/student/resource/student_advocacy/academicintegrity/students/a-to-i-what-is-academic-integrity.html Inappropriate Collaboration:

When is collaboration inappropriate?

When students work together or share information without specific instructions by the professor, this constitutes inappropriate collaboration. This applies to in-class or take-home tests, papers, labs, or homework assignments; basically, any assignment that will be submitted for a grade. Students should not collaborate unless the professor has given specific instructions about group work and when this is permissible.

*Lab Assignments: Work submitted for lab assignments must be you own, i.e., not the work of anyone else. Consultation with other students is permissible, however, each student must submit their own assignment containing their own work. The answer must be not be similar enough to tell who you were working together with, e.g. calculations and word responses in labs. Weekly Quizzes: UM Learn Quizzes are to be completed and submitted individually. iClicker: iClicker questions are to be completed individually; grades are assigned on an individual basis. Impersonation or the use of another student’s iClicker/Account is a serious form of Academic Dishonesty Tests & Exams: Will be completed individually with only the materials permitted by the instructor; e.g., no graphing calculators, cellphones, etc.

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Students Accessibility Services Student Accessibility Services

If you are a student with a disability, please contact SAS for academic accommodation supports and services such as note-taking, interpreting, assistive technology and exam accommodations. Students who have, or think they may have, a disability (e.g. mental illness, learning, medical, hearing, injury-related, visual) are invited to contact SAS to arrange a confidential consultation. Student Accessibility Services http://umanitoba.ca/student/saa/accessibility/ 520 University Centre 204 474 7423 Student_accessibility@umanitoba.ca

Expectations: You Can Expect Me To I want to see you all succeed in my course and beyond. If you don’t understand a concept after attending a lecture and have made an honest effort to understand on your own, don’t hesitate to seek clarification from me via email or appointment. I want all of you to leave this course with a solid understanding of financial management. I hold high expectations but I am willing to match the time and effort that you put into the class. It is important that you understand the content in this course as it is an integral part the Farm Management Project.

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Class Schedule

*This schedule is subject to change at the discretion of the instructor and/or based on the learning needs of the students but such changes are subject to Section 2.8 of the – ROASS- Procedure.

Week Date Topic/Lecture Lab

Value Due Date Submission Quiz

0 Sept 20 Fri Introduction Class Q0

- Lab NO LABS THIS WEEK - CANCELLED

1 Sept 23 Mon Depreciation, Capital Purchases & Sales

Sept 27 Fri Depreciation, Capital Purchases & Sales

Sept 27 Fri Lab 1 - Depreciation 2.5 Friday 12:00pm UM LEARN Q1

2 Sept 30 Mon Loans

Oct 4 Fri Loans

Oct 4 Fri Lab 2 - Loans 2.5 Friday 12:00pm UM LEARN Q2

3 Oct 7 Mon Balance Sheets

Oct 11 Fri Balance Sheets

Oct 11 Fri Lab 3 - Balance Sheets 2.5 Friday 12:00pm UM LEARN Q3

4 Oct 14 Mon CLASS CANCELLED - THANKSGIVING

Oct 18 Fri CLASS CANCELLED - FIELD TRIP

Oct 18 Fri NO LABS THIS WEEK - FIELD TRIP

5 Oct 21 Mon Review/Catch-up

Oct 21 Fri Midterm 1

Oct 25 Fri NO LABS THIS WEEK - CANCELLED

6 Oct 28 Mon Cashflow Statements

Nov 1 Fri Cashflow Statements

Nov 1 Fri Lab 4 - Cashflow Statements 2.5 Friday 12:00pm UM LEARN Q4

7 Nov 4 Mon Income Statement; Accrual Adjustments

Nov 8 Fri Income Statement; Accrual Adjustments

Nov 8 Fri Lab 5 - Income Statement; Accrual Adj. 2.5 Friday 12:00pm UM LEARN Q5

8 Nov 11 Mon CLASS CANCELLED - REMEMBRENCE DAY

Nov 15 Fri Income Statement; Accrual Adjustments // Financial Ratios & Analysis

Nov 15 Fri Lab 6 - Review Lab 2.5 Friday 12:00pm UM LEARN Q6

9 Nov 18 Mon Financial Ratios & Analysis

Nov 22 Fri Financial Ratios & Analysis

Nov 22 Fri Lab 7 - Financial Ratios & Analysis 2.5 Friday 12:00pm UM LEARN Q7

10 Nov 25 Mon Review/Catch up

Nov 29 Fri Midterm 2

Nov 29 Fri NO LABS THIS WEEK - CANCELLED

11 Dec 2 Mon Income Tax, CCA, GST

Dec 6 Thurs Income Tax, CCA, GST

Dec 6 Fri Lab 8 - Income Tax, CCA, GST 2.5 Friday 12:00pm UM LEARN Q8

Exam Period: December 9th – 18th

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Important Dates Oct 2 Thu Last Day to Drop Classes Without Penalty

Oct 3 Fri Last Day to Register for Courses

Oct 14 Mon Classes Cancelled – Thanksgiving

Oct 15 Tue Classes Cancelled – Field Trips DAGR 0410/DAGR 0540

Oct 16 Wed Classes Cancelled – Field Trips DAGR 0480/SOIL 0630

Oct 17 Thu Classes Cancelled – Field Trips SOIL 0420/DAGR 0910

Oct 18 Fri Classes Cancelled – Field Trips DAGR 0980

Nov 11 Mon Classes Cancelled – Remembrance Day

Nov 15 Fri Voluntary Withdrawal (VW) Deadline for Fall courses

Dec 6 Fri Last Day of Agriculture Diploma Classes

Dec 9 Mon Examination Period Begins for Agriculture Diploma

Dec 18 Wed Examination Period Ends for Agriculture Diploma

Grading

1. Attendance & Participation (iClicker) 10%

2. UM Learn Quizzes 5% (8x)

3. Lab Assignments 20% (8x)

4. Midterm Exams 30% (2 midterms; 15% each)

5. Final Examination 35%

1. Attendance and Participation: iClicker Cloud/Reef will be used in lectures to measure

participation and understanding. Several multiple choice questions will be asked per

lecture. Students are to respond individually via iClicker Cloud/Reef Phone or Web App.

ABIZ 0460 – Financial Management I Page 11

Each question will be out of two marks: 1 for answering anything at all and 1 for

responding with the correct answer.

Students need to create an iClicker account, register, and acquire a subscription.

*iClicker will be used starting in the first class but will only count for marks starting

Monday, Sept 30th.

Marking will be as follows:

If a student obtains 80% or more of the total iClicker marks: 10/10

If a student obtains 50%-79% of the total iClicker marks: 6/10

If the student obtains 0%-49% of the total iClicker marks: 0/10

2. Um Learn Quizzes: There will be weekly quizzes (8 total) which are available to be

completed on Um Learn. These quizzes will typically become available every Friday

after the week’s content is finished and due the following Wednesday. Students have two

chances at the quiz; the better of the two marks will be submitted.

3. Lab Assignments: Labs will cover the content discussed in the current lecture topics.

Each lab session (8 total) will have a Lab Assignment that will be due before the start

time of the next weeks first lab (Friday 12:00pm). Lab sessions are not in designated

computer labs, so ensure that you bring your laptop to each lab in order to complete lab

work.

4. Midterm Exams: There will be two midterms each covering the content in the lectures,

quizzes, and labs before it. The length, content, and format of the midterms will be

discussed in class.

5. Final Exam: The final exam length, content, and format will be discussed in class. It will

be cumulative. The exam will be during the final examination period.

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Grade Assessment

Letter Grade

Grade Point Value

Mark Range

A+ 4.5 94+ Exceptional

A 4.0 87-93 Excellent

B+ 3.5 80-86 Very Good

B 3.0 73-79 Good

C+ 2.5 66-72 Satisfactory

C 2.0 60-65 Adequate

D 1.0 50-59 Marginal

F 0 <50 Failure

* A minimum grade of C is required to take ABIZ 0470 – Financial Management II and DAGR 0490 – Applied Farm Management The grade of “D” is regarded as marginal in most courses by all faculties and schools. It contributes to decreasing a term, degree or cumulative Grade Point Average to less than 2.0. It is important that you monitor your marks closely on the UM Learn gradebook.

Referencing Style None required

Assignment Grading Times Assignments will be graded, handed back and comments (when applicable) given as soon as possible.

Quizzes will be marked instantaneously with a mark (usually out of 10). Quiz feedback will be given via UM Learn within 1 week of the quiz closing.

Lab marking times will vary but some feedback will always be provided before the nearest midterm exam.

Midterms will be handed back within 2 weeks of writing

Assignment Extension and Late Submission Policy Assignments that are late will be given a grade of zero. Assignments submitted that are not formatted correctly and can not be opened/accessed by Instructor will be given a grade of zero.

Non-medical Extensions may be granted if students communicate in advance with their Instructor and provide supporting documentation to warrant an extension. When no extension is granted, late assignments will be assigned a grade of zero.