ACCT 502 01: Financial Reporting and Decision Making

Alexandra Yarosh is a Professor at the University of North Dakota.  In addition to joining the faculty at the University of North Dakota, she is the National Emerging Talent Practice Leader, specializing in Audit, Tax and Consulting at top 10, public accounting firm, Baker Tilly US LLP. Alexandra has supported various offices across the nation, Minnesota, Wisconsin, Washington DC, Texas, Pennsylvania, among others.  Her accounting education includes a master’s degree and a bachelor’s degree from Wilkes University out of Wilkes-Barre, Pennsylvania. She also played four years of collegiate softball where she was an NFCA All-American Scholar-Athlete. Her professional accomplishments include experience in both audit and tax at Baker Tilly US LLP. Alexandra also serves as the Treasurer of the Wisconsin Association of Colleges & Employers. In her spare time, she enjoys the great outdoors, hiking, running, fishing, camping, with her husband. Her best friend is a 4-legged friend and a German Shepherd named June.
 

Professor Yarosh’s research includes Employee Motivation, Retention, and Turnover in Public Accounting.  In addition, she has a working paper on Employee Motivation: Trends in the Main Themes of Employee Motivation.

After successfully completing this course, you should be able to:

• Describe the economic environment of accounting information and the financial accounting process.
• Identify the organization and purpose of the major financial statements.
• Understand how financial accounting information is used in the capital markets in order to help allocate resources between providers of capital including lenders and investors and those in need of capital.
• Perform basic analysis and interpretation of financial statements to support business decisions.

Communicate with an accountant and/or other business professionals about financial statements.

Financial Accounting for MBAs, Eighth Edition

by Easton, Wild, Halsey, and McAnally

Cambridge Business Publishers

ISBN: 978-1-61853-358-6

The eBook is only available for purchase on their website.  Students can also direct purchase the print book and MBC course access only on the text’s purchase link.

Financial Accounting for MBAs, 8e | Cambridge Business Publishers (cambridgepub.com)

Spring 2023 Enrollment Link

Additional materials as assigned

Course Overview
Financial accounting includes the standards and strategies managers use to report the results of their entity’s operations to stakeholders (e.g., stockholders, potential investors, creditors, regulatory agencies, employees, customers, etc.).  This course has a user orientation, focusing on understanding and using financial statements rather than the many technical details of accounting standards, recording transactions, and preparing financial statements.  While it is necessary to address the basic mechanics of accounting procedures to understand the construction of financial statements, the course will emphasize concepts and interpretation of financial reports.  While this is not a class in either statement preparation or statement analysis, we will do a little of each.  The goal is to understand the basic principles governing the preparation of financial statements, the flexibility that exists within these principles, the incentives that may influence choices managers make in exercising discretion, and the output from this environment.  The ultimate goal for this course will be for you to read and interpret the output from the financial accounting process, the financial statements. 

Access and Log in Information

This course was developed and will be facilitated utilizing Blackboard. To get started with the course, please go to: http://blackboard.UND.edu and log in with your NDUS.Identifier, Username and Password. If you do not know your NDUS Identifier or have forgotten your password, please visit Your NDUS Account page on the UIT website.

Course Organization

The class will meet as a group on Zoom on Monday evenings. Weekly class meetings will used to actively review, apply, and discuss assigned materials to deepen your understanding. Thus, students are expected to prepare for class by engaging with assigned materials to develop a basic familiarity with the topics. Prior to each class meeting, students are expected to have reviewed assigned materials, and come prepared for in-class discussions, group activities, and presentations. Most meetings will include student presentations of assigned work (prepared as a group using Wikis).  In addition, classes may also include discussions and break-out groups for additional in-class activities. 

Please note that class participation is evaluated in this course (see further discussion under the Assessment and Grading section of this document).  To help you prepare for active participation, a pre-class weekly assessment (beginning Week 2) is due before the start of class each week. These pre-class assessments are open book, include relatively basic questions directly related assigned readings and homework for the week, and allow unlimited attempts. Both the pre-class assessments and contributions to group Wiki homework assignments will be included as components of your class participation score. 

In the Blackboard course site, course content is organized by week, with a total of 16 weeks for the semester. Each week contains an introduction, learning outcomes, a variety of instructional resources (e.g., video lectures, assigned readings, homework problem and case assignments, sample problems with solutions), a summary of “What’s Due this Week,” and links to quizzes and/or exams. In addition to the instructor-provided materials included on the Blackboard site, resources produced by the textbook publisher are available to assist you via the myBusinessCourse tab included on the course Blackboard site.

Tips for Synchronous Online Zoom Class Meetings

Attend class in a location that allows for your full attention and participation. Plan to be on-camera in an environment free of auditory or visual distractions, which allows for open, focused participation in class discussion. While home situations differ and some interruptions might be unavoidable, plan for the following:

• Be mindful of your background. Your camera captures you and anything in your background, so find a background that is appropriate to be viewed by your classmates. Selecting a virtual background in Zoom is an option.

• Stay on camera – leaving the camera off for extended periods of time disengages you, and others, from class activities.

• Make prior arrangements for dedicated and uninterrupted space and time for the duration of each class meeting. If possible, avoid public locations, especially locations that are noisy and distracting or where you cannot freely speak to engage in discussions.

• Stay focused. To the extent you are able, avoid interacting with people who are not part of the class, behaving in an overly inattentive manner, and multi-tasking with non-class related work.

Preparing for Class

Your level of preparation for class will, in large part, determine your success in the course. This is a demanding course, especially if you have limited background in accounting.  Thus, plan to dedicate several hours a week to preparation and study. There are FIVE steps to being fully prepared for class.

• STEP 1 – Read/Review Assigned Materials.  Read the assigned textbook pages and/or watch the publisher’s video lectures that follow the text.   Choose the format that makes the material most accessible to you. As you go through the material, you may want to try the “review” questions at the end of each module and check your solutions.  If you are still unsure of the material, watch the publisher video that provides the solution to the review problem and then try working through the review problem again. Read or watch additional instructor-provide materials to support your learning and prepare for class, exams, and projects.
• STEP 2 – Apply Concepts. Complete some or all assigned homework problems. Accounting, perhaps more than most courses you will be taking, requires you to solve problems in order to learn the material.  Simply reading the text and/or listening in class is rarely sufficient. While all homework need not be completed before class, the more you attempt the better you will be prepared.  Successfully working problems will help you develop and confirm your understanding, making you well-prepared for class. Do not be alarmed if you find some assigned problems challenging on your first attempt. Reviewing assigned materials, participating in class, and asking questions will help. Identifying areas you find challenging is part of the learning process and can help focus your attention on these areas during class.
• STEP 3 – Complete Any Other Assignments for Class. On a rotating basis, groups will be assigned homework problems to present in class. Cases and other materials may also be assigned as the basis for class discussions and activities. For group assignments, it is important to communicate with and fully participate in helping the group prepare for class. 
• STEP 4 – Post-Class Review and Quiz.  Shortly after class meetings, any relevant materials and/or solutions will be posted. Review the assigned material for the week including textbook reading and materials from class as soon after class as possible. Complete assigned homework and the post-class quiz. Note that you may use any materials that you like while completing the quiz, however it is timed and you are allowed only one attempt.  Many students skip this important post-class review believing falsely, that if some particular material was not explicitly addressed in class or included on quizzes, it is unimportant, or worse, not subject to examination.  Reviewing the material as soon as possible after class, will reinforce the concepts you learned in class, solidify your understanding of the material, and prepare you for exams.

Resources

Many services are available to online students such as writing assistance from the UND Writing Center, free online tutoring from Smarthinking, and more. Visit the Student Resources page for more information. Students also have access to the UND Student Resource Site via Blackboard. It is recommended that you become familiar with the tools and tutorials within the site to better equip you in navigating the course.

Course Requirements/Expectations

1. Review the syllabus and course schedule posted in Blackboard.
2. Access and follow all course instructions found in the weekly content area of the Blackboard course.
3. Review weekly content and fully prepare for class meetings.
4. Actively participate in class meetings and activities.
5. Complete and submit all assignments, quizzes, and exams by the dated noted in Blackboard. All due dates and meeting times are stated on Central Time.

Announcements

Information relevant to the class as a whole will be posted in Blackboard. Be sure to check the class announcements regularly for important information about class assignments and other class matters.

Email

Email is the most efficient way to contact me.  Check the Faculty tab in Blackboard or the syllabus for my contact information. I will respond back to you as quickly as practical. 

Netiquette

When participating in class it is important to interact with your peers in an appropriate manner. Always use professional language (no netspeak) in postings and emails. Please be respectful of your classmates at all times even if you disagree with their ideas.

This course includes a variety of graded assignments and assessments related to course learning objectives/outcomes:

Assignment                                                                   Final Grade

Introduction (submitted as a VoiceThread)                                              10 Points

Weekly Post-Class Blackboard Quizzes (9 @ 10 points each)                 90 Points

Exams (2 exams, 200 points each)                                                             400 Points

Group Project                                                                                                   180 Points

Peer Evaluation (Assesses all group work in course)                               20 Points

Class Preparation (Homework 10 @ 20 points each)                              200 Points

Class Participation (In-Class Contributions)                                            100 Points

                                                                                Total: 1,000 Points

Final Grade Scale

Course grades will be assigned based on the following grading scale: A - 90% / 900 points, B - 80% / 800 points, C - 70% / 700 points, D - 60% / 600 points, F – less than 60% / 590 points.

Introduction

Introduce yourself in the Week 1 VoiceThread: Introduction. Please include your name, where you live, your educational and professional background, why you decided to pursue an MBA (or other degree) at UND, and any personal interests/fun facts/additional information about yourself you would like to share. These introductions will help you learn about and build rapport with your classmates. You are encouraged, but not required, to reply to some of your classmates’ VoiceThread introductions.   

Weekly Post-Class Blackboard Quizzes

In most weeks, a post-class Blackboard quiz will be used to reinforce learning of topics for the week. The quizzes are open book and un-proctored. While the quizzes are graded, the primary goal is learning.  Results can help inform your study efforts, however these quizzes are not meant to provide comprehensive coverage of all topics. 

Exams

Exams may cover any material covered in assigned textbook chapters, lectures, class discussions/activities, cases, and supplemental materials. Exams must be taken at the scheduled time; make-up exams will only be given due to valid excuses communicated to me as soon as practical. A grade of zero will be assigned when an exam is missed without an approved valid excuse communicated on a timely basis.

All exams are administered using the ProctorU live proctoring service. You must use ProctorU to take your online exams. ProctorU connects you with a proctor who will assist you during your exam session using your web camera and computer microphone. Your proctor will help you access the exam in your Blackboard course and will be available during the exam period should technical difficulties arise. The proctor will also monitor your activity during the exam to ensure academic integrity.

You must schedule a testing period with ProctorU 72 hours in advance of the opening of the testing window (day and time the first opportunity to take the exam). It is advisable to do this as early as possible, because testing periods fill up. You will not be charged for proctoring. However, if you attempt to schedule an exam within 72 hours of when you plan to take the exam, ProctorU may charge premium fees. Failure to schedule a testing period with ProctorU with sufficient lead time is not an acceptable excuse for an extension of an exam due date nor waiver of the additional charges.

In preparation for your exams please:
 

• Review the UND ProctorU Portal and test your system for compatibility. Remember that you must use Google Chrome as your browser when taking your exam. Wireless network connections are not recommended. On this site you can watch a demo of how the system works, schedule your exams, and access resources to support your use of ProctorU.
• Create a ProctorU account (if you have not already done so for a previous course) by selecting Create Account on the UND ProctorU Portal.
• Sign up, as early as possible, for specific times during the testing windows for your exams. Please be mindful of the exam availability windows for both of your exams and the corresponding due dates. These are listed in your What's Due schedule.
• Contact ProctorU at 1.855.772.8678, if you have questions.
• Browse the ProctorU Resource Center for additional support.

Group Project

Throughout the semester, you will work in a small group on a financial statement analysis project. Project deliverables will include a written document that includes financial analysis and a presentation of your analysis. Details and project requirements are included in a separate project description posted on Blackboard. Group assignments will be made during the first week of the course.  Unless there is a clear indication that an adjustment is necessary (e.g., peer evaluation, documented lack of contributions, etc.) each member of a group will receive the same grade for group work.  Details of the group project and requirements are included in a separate project description posted on Blackboard.

Peer Evaluation

At the end of the semester, each student will be asked to complete a peer evaluation of their group members. This will include components related to all group work (e.g., group project, preparation for group class presentations, engagement with group in-class activities, etc.).  Points will be awarded for thoroughly completing the peer evaluation for your group.  The content of peer evaluations may be used to adjust individual scores on group work, if as appropriate.

Class Preparation

Both preparation and participation greatly affect the classroom learning experience.  Class preparation requires careful review of assignment materials, and points will be awarded based on class attendance, participation & completion of assigned homework problems.

Most homework will be completed in the MyBusinessCourse learning platform. While the final deadline for submitting weekly homework is Day 7, Monday , you are encouraged to start working on homework as early as possible, and preferably before the related class meeting. Some homework assignments may be due before Day 7.  

The points assigned for class preparation are meant to be an incentive for regularly and thoroughly preparing for class, which will enhance your in-class learning experience, contribute to the in-class experience of all students, and help you keep on track to prepare for exams and complete other assignments.

Class Participation

Class participation includes engagement in class discussions and activities, but it reflects engagement outside of class meetings.  Thus, please note that strong class participation depends on solid preparation, collaboration on group assignments, and engagement outside of class.  
Both the quality and quantity of participation is important. While attendance is necessary for participation, it does not, in and of itself, constitute participation. Similarly, to fulfill expectations for class participation, contributions to discussions, analyses, and presentations must be substantive. Expectations for class participation substantive contributions to group activities, thoughtful engagement class discussions and activities, and responsive and respectful engagement with all class participants.

There is no substitute for being present, prepared, and participating in class discussions.  While I strongly encourage you to attend all classes, absence from any one class will not in and of itself carry significant consequences for your grade or require make-up work (except exams).  I recognize that each of you has multiple demands on your time, and needs to make trade-offs among different professional, personal, and educational activities.  You need not inform me in advance of an isolated absence nor justify your attendance decisions (other than those related to exams and/or assignments).  However, you do have an obligation to communicate with group members and be accountable for contributing to group assignments on a timely basis.  Repeated absences will undoubtedly have an adverse effect on your class participation grade, and warrant communication with the instructor at the earliest time possible.

After most class meetings, I will make notes regarding student contributions to class activities.  At approximately the midpoint of the course I will share an assessment of student participation.  If you want to discuss your participation with me, before or after this mid-course assessment, please contact me and we can have a discussion about your class participation performance.

Course Evaluation

I welcome your questions, comments, and suggestions throughout the course.  Often an individual student’s question or observation will help me to pre-empt questions by other students, clarify expectations, and/or make an adjustment to assignments or class activities.  This communication can help the class run smoothly and improve the experience for all.  Near the end of the semester, you will be asked to complete an online course evaluation form (SELFI). Your feedback on the course is extremely valuable to me. I read my students’ comments carefully and use them to improve the course the next time I teach it.

• In completing your SELFI form, please include comments to let me know which aspects of the course helped you learn—and which aspects might be modified to improve student experiences. 
• Please note that the course evaluations are anonymous and that I won’t see the results until after the grades for the course are submitted, allowing you to provide honest and constructive feedback. 
• And if you have feedback to offer before the end of the semester, please let me know.

Assignment Policy

Due dates for each assignment or activity are posted in Blackboard; all deadlines are stated in Central Time.

Late Work

All assignments must be submitted by the due dates posted in the course. Late submissions may be accepted, with or without penalty, depending on the circumstance.  Please contact me before the due date, when possible, if unexpected circumstances arise that make submitting work on time problematic. 

Instructor Responsibilities and Feedback

• I will provide feedback on all assignments and activities on a timely basis. For most items, this will be within one week.  More substantial projects may require additional time for grading and/or other feedback.  I will communicate regarding feedback time in class and/or on Blackboard.
• Class participation grades will be communicated once during the middle of the course, and once at the end of the course.
• I will be available during appointed Office Hours to answer questions, provide feedback, and offer advice.
   

Class Participation

Students are expected to prepare for and participate in regularly scheduled class meetings as well as all class activities, including group projects. Please see additional details included in the Assessment & Grading section of this document.

Incompletes

It is expected that students will complete all requirements for a course during the time frame of the course. For reasons beyond a student’s control, and upon request by the student or on behalf of the student, an incomplete grade may be assigned by the instructor when there is reasonable certainty the student will successfully complete the course without retaking it. The mark “I,” Incomplete, will be assigned only to the student who has been in attendance and has done satisfactory work up to a time within four weeks of the close of the semester, including the examination period, and whose work is incomplete for reasons satisfactory to his or her instructor. More information regarding UND’s Incomplete policy can be found on The Grading System webpage.