ACCT 3110: Financial Accounting & Reporting I
Week of January 6, 2002
You need to obtain a copy of the Syllabus.
The syllabus is in Adobe format. If you do not have Adobe Acrobat Exchange or Adobe
Reader, you can download the free Acrobat reader from the Adobe web site (a link exists to
this site on my home page).
The material covered in the first exam constitutes a review of the concepts covered in
the Principles of Financial Accounting course. If you are not confident in your
grasp of these concepts, you may find the various software packages (e.g.,
CONTACCT II). These packages, available either
on-line from the publisher's web site (address is on the book) or possibly at
the bookstore, are designed as a tool to review and enhance your
abilities with regard to this introductory material.
Please be aware that this course moves at an
accelerated pace (especially in the summer). If you have not ordered the software
prior to the beginning of the course, you probably will not receive it in time for it to
be of much benefit to you.
If you do not have an e-mail account, you may wish to set up your AU e-mail account
(although this is not required for the class). To set up your e-mail account, call (334)
844-5800 from a touch-tone phone, select the "e-mail and computer user ID"
option, and follow the instructions (hint: your personal access code is the same code you
use to register for classes). You may want to write down the initial password until you
have a chance to login to the DUC Sun Network and change it to something you can easily
If you have an official AU email account and do not wish to use it as your primary
e-mail account, you can easily forward all of the mail that is sent to the AU account to
the email account of your choice. To do this, log in to the DUC Sun Network and at the
prompt type pico .forward; (do not forget the period before forward - no space
between the period and the word forward) a new screen will appear where you will type the
e-mail address that you wish the mail to be forwarded to; then use CTRL X to cancel, and
hit the return key until you return to the system prompt. Your mail will now be forwarded
to the e-mail address of your choice.
An on-line solution manual is available; the username and password will be given in
Week of January 13, 2002
project assignment is available for download. I will discuss this in
class on Tuesday.
Beginning balances for the assignment are: Cash =
70,035; Receivables=127,995; inventories=881,021; Prepaid expenses=73,362;
property=1,491,069; goodwill and other=1,783; current liabilities=698,695;
noncurrent liabilities=844,060; contributed capital=237,568; retained
earnings=864,942; all income statement accounts = 0 for beginning balances.
Week of January 20, 2002
The study session is scheduled tentatively for tomorrow
night at 6:30 in ROOM 112. Please note the room change!! This room
may change depending on availability. I will let you know as soon as I
Week of January 27, 2002
I will hand back the exams as soon as they are graded
and recorded. Please do not stop by my office to see how you did -
everyone will get their grade at the same time (in class either Tuesday or
Grades are posted for exam
1. Several of you told me to post but gave no code and, therefore, your
grade was not posted.
If you were not in class on Thursday, the
discontinued operations problem is
available. We will work this in-class next Thursday.
The solution manual has been updated for errors and
mistakes found. If you go to the solution manual and click on the link
titled "Revised Solution Manual for entire book" you will get the revision.
Please be aware that this is quite long; therefore, you do not want to print
it. Instead, either view it electronically or just print the problems
you need - no need to kill any more trees than we have to
February 17, 2002
- Grades are posted for exam
2. If you did not give a code, either on this test or the last test,
your grade is not posted. If you requested for test 1 grades to be
posted, please click on the test 1 link above. The posted grade reflects
a 2 point curve.
- Project 1 scores are
March 10, 2002
- As some of you have noticed, the syllabus says that
project 2 is due tomorrow. However, since I was out of town last
Thursday, I decided to move this project to a later date. Unfortunately, I had
not given any of you notice of this - my mistake and I apologize. I will
discuss specifics of project 2 and the new due date at a later time.
- The inventory error
solutions are available as promised. Please note that for the class
demonstration problems #2 (the chart that has to be filled out), the first
sentence of the problem states that the selling price is 100% above cost.
This is critical since it means that any error to sales or receivables
(recorded at the sale price) will be twice that of an error affecting payables
or inventory (recorded at cost). I will try to provide an update for a logic
of how to solve these if/when I have the spare time to do so. I have
also included the answers to some multiple choice inventory questions also.
- The logic behind #2 of
the class demo problems is available. I suggest starting with (c) or (d)
and then doing the others.
March 17, 2002
April 21, 2002
- Your grades for test 4 are
April 28, 2002
- Your grade on project 2 and your final
attendance/quiz/project grade is available. Click
HERE. If you feel your grade has been
computed in error, please send me an email and I will investigate.
Everyone started with 100 points available. Your attendance was based on
the number of times you missed class (as determined by the number of times you
did not sign the roll sheet that was passed out in class). I gave
everyone two absences without a point deduction. For the third absence
and for each subsequent absence, I subtracted 3 points. As for the 2
quiz grades, I simply summed your score on the quizzes and any difference
between the total quiz points available and your score was subtracted from the
grade. The projects were worth 20 points each (40 points total).
Any score you made below the maximum was subtracted. The sum of all
three of the above components was your grade (with a slight adjustment of +2
points as a "curve"). The average grade for this component was an 89.75.
Again, if you have any other questions about my calculation, please send me an
email stating why you think I made an error.