Main Content
Syllabus
ACCTG 211
Financial and Managerial Accounting for Decision Making (4) Introduction to the role of accounting numbers in the process of managing a business and in investor decision making.
Overview | Course Objectives | Materials | Library | Technical Requirements | Course Schedule | Course Requirements | Grading | Academic Integrity | Policies
Overview
The work of an accountant involves three activity dimensions - the collection, recording and reporting of information to decision makers for (mainly) investment decisions. In this course you will develop an understanding of (a) the three activity dimensions of accounting, (b) the issues surrounding the three activity dimensions, (c) the environment in which accounting is practiced, and (d) what information is used in a number of specific decision situations, and how such information is used in such decision situations. The decision-making orientation of this course includes a study of the procedural (mechanical or processing) aspects of the recording activity dimension. The recording dimension is only one activity dimension. However, it is an important means to the end (where the end is the reports produced by the recording/processing part of accounting), and needs an appropriate amount of attention in even an introductory course. Your understanding of the recording activity dimension will contribute to your understanding of (a) the nature and quality (strengths and weaknesses) of accounting information, (b) how to proceed in analyzing and interpreting accounting information, and (c) numerous other aspects of financial and managerial accounting.
While the above purpose has been stated in relation to accounting subject matter, the course will be approached in such a way as to focus on the accomplishment of educational goals beyond mere knowledge acquisition. Our hope is to cover the material in such a way as to contribute to the development of higher-level cognitive skills such as comprehension, application, analysis, synthesis and evaluation.
While this course is required of all business majors and is an important background course for FIN 301, it is an introductory accounting course for students from a variety of backgrounds. In many ways it is an “introduction to business” course that could help you with your decision about a major.
Course Objectives
One of the goals of this course is to introduce you to the discipline of accounting through an introduction to two of accounting’s sub-disciplines, financial and managerial accounting. The more specific purpose is to provide you a basic understanding of the role of financial and managerial accounting information in the decisions of capital market participants external to a business enterprise (e.g., stockholders, banks, financial analysts, prospective stockholders), and in the decisions of those who manage business enterprises. Accounting information has an important role in the resource allocation process in our socio-economic system as a whole, as well as in each individual business enterprise. It is therefore useful to have an understanding of (1) the nature of the accounting function, and (2) how the information in accounting reports are used by various decision makers in their resource allocation decisions.
At the end of this course, students will be able to:
-
Record Financial Transactions including Adjusting and Closing
-
Prepare Basic Financial Statements
-
Determine Ending Inventory and Cost of Goods Sold using Perpetual and Periodic Inventory Methods
-
Record Receivables including the calculation of Allowance for Doubtful Accounts
-
Calculate depreciation of fixed assets, and Determine gain or loss on the disposition, sale, and exchange of assets
-
Prepare a Statement of Cash
-
Calculate financial statement analytics and explain the results.
-
Identify Costs in a Manufacturing Process
-
Allocate Costs in Job Order and Process Cost systems, and Determine Gross Profit in Job Order and Process Cost systems
-
Identify Variable. Fixed, and Mixed Costs
-
Using Cost Volume Profit analysis, determine contribution margin, break even, and target profit sales
-
Prepare a Master Budget for a Manufacturer
-
Develop a flexible budget, calculate and analyze variances
-
Calculate selling price for a price-taker and a price setter
-
Using Differential Analysis, determine whether a special price offer should be accepted, whether a product line or segment should be discontinued, whether a component should be purchased or manufactured, whether a service should be outsourced, and whether to sell a product now or process further.
Course Materials
Required Materials
Most World Campus courses require that students purchase materials (e.g., textbooks, specific software, etc.). To learn about how to order materials, please see the Course Materials page. You should check LionPATH approximately 3–4 weeks before the course begins for a list of required materials.Library Resources
Many of the University Libraries resources can be utilized from a distance. Through the Libraries website, you can
- access magazine, journal, and newspaper articles online using library databases;
- borrow materials and have them delivered to your doorstep—or even your desktop;
- get research help via email, chat, or phone using the Ask a Librarian service; and
- much more.
You must have an active Penn State Access Account to take full advantage of the Libraries' resources and service. The Off-Campus Users page has additional information about these free services.
Optional Course Library Resources
Talk to a Business Librarian if you have a specific business research question that you are unable to find via the library resources mentioned previously. Contact Diane Zabel, Benzak Business Librarian and Head of the Schreyer Business Library, during regular business hours at 814-865-1013 or via email at dxz2@psu.edu.
Tutor.com
Tutor.com is a 24/7 tutoring service that provides students with assistance in coursework, test preparation, research, writing, and more for various subjects. The tutors are subject-matter experts, and each student will have personalized one-on-one sessions with them. Students can schedule their own tutoring appointments to engage in interactive sessions that include a whiteboard and chat feature. The service can be utilized on any device that has Internet access. Students are encouraged to use the service throughout the semester.
You can access this service by selecting Tutor.com from your course navigation menu. Here you fill out a questionnaire and begin your tutoring session.
Technical Requirements
| Operating System | Canvas, Penn State's Learning Management System (LMS), supports most recent versions of Microsoft Windows and Apple Mac operating systems. To determine if your operating system is supported, please review Canvas' computer specifications. |
|---|---|
| Browser | Canvas supports the last two versions of every major browser release. It is highly recommended that you update to the newest version of whatever browser you are using. Note: Cookies must be enabled, and pop-up blockers should be configured to permit new windows from Penn State websites. |
| Additional Canvas Requirements | For a list of software, hardware, and computer settings specifically required by the Canvas LMS, please review Canvas' computer specifications. |
| Additional Software | All Penn State students have access to Microsoft Office 365, including Microsoft Office applications such as Word, Excel, and PowerPoint. |
| Hardware | Monitor: Monitor capable of at least 1024 x 768 resolution |
| Mobile Device (optional) | The Canvas mobile app is available for versions of iOS and Android. To determine if your device is capable of using the Canvas Mobile App, please review the Canvas Mobile App Requirements. |
Student Education Experience Questionnaire (SEEQ)
During the semester you will receive information for completing the Student Education Experience Questionnaire (SEEQ). Your participation is an opportunity to provide anonymous feedback on your learning experience. Your feedback is important because it allows us to understand your experience in this course and make changes to improve the learning experiences of future students. Please monitor email and course communications for links and availability dates.
If you need technical assistance at any point during the course, please contact the Service Desk.
For registration, advising, disability services, help with materials, exams, general problem solving, visit World Campus Student Services!
Course Schedule
Note: All due dates reflect North American eastern time (ET).
The schedule below outlines the topics we will be covering in this course, along with the associated time frames and assignments.
Note that all dates reflect North American eastern time (ET). This ensures that all students have the same deadlines regardless of where they live. All lesson assignments must be submitted by 11:59 PM (ET) on the last day of the timeframe indicated below for the lesson unless otherwise stated.
Lesson 1: Introduction to Accounting and Business
| Readings: |
Textbook
|
|---|---|
| Activities: |
McGraw Hill Connect
Canvas
|
Lesson 2: Analyzing and Recording Business Transactions
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
Canvas
|
Lesson 3: Matching Concepts and Adjusting Entries
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
Canvas
|
Lesson 4: Completing the Accounting Process
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
|
Lesson 5: Accounting For Merchandising Operations
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
Canvas
|
Lesson 6: Internal Accounting Controls and Cash and Receivables
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
Canvas
|
Lesson 7: Plant Assets, Natural Resources and Intangible Assets
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
Canvas
|
Lesson 8: Corporations, Stockholders’ Equity, and Statement of Cash Flows
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
Canvas
|
Lesson 9: Financial Statement Analysis
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
|
Lesson 10: Introduction to Managerial Accounting
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
|
Lesson 11: Job Order Costing and Process Costing
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
|
Lesson 12: Cost Volume Profit Analysis
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
Canvas
|
Lesson 13: Master Budgets
| Readings: |
Textbook
|
|---|---|
| Activities: |
McGraw Hill Connect
|
Lesson 14: Flexible Budgets, Standard Costs, and Responsibility Accounting
| Readings: |
Textbook
|
|---|---|
| Activities: |
McGraw Hill Connect
Canvas
|
Lesson 15: Short-Term Decisions
| Readings: |
Textbook
|
|---|---|
| Activities:
|
McGraw Hill Connect
Canvas
|
Final Exam
| Readings: |
Textbook
|
|---|---|
| Activities: |
Canvas
|
Course Requirements
There are 1,000 possible total points to be earned in this course.
Reminder: Please keep in mind that you can use the free Tutor.com services to assist you in preparing for your assignments and understanding key concepts. You may NOT use this service during graded assignments, quizzes, or exams. Students AND instructors have access to transcripts from tutoring sessions.
Assessments
Assessments are open book, and open notes. (This includes online content and the textbook) We do not want you to copy answers from each other, but a study session to discuss problems or concepts is a great way to learn the material. Tutor.com is available to help you with course material, but you are expected to complete all problems, assignments and quizzes on your own!
CONNECT Course Assignments
Practice Exercises (Worth a total of 0 points or 0 % of final grade)
Interactive Presentations
The interactive presentations should be completed first for each assignment.
The Interactive Presentations cover each chapter’s learning objectives with narrated, animated presentations that pause frequently to check for comprehension. It typically takes between 8 and 10 minutes for each learning objective.
It is likely that you could complete these assignments in less than 8 to 10 minutes and earn the maximum allowable points for the assignment but doing so could adversely affect your performance in the other chapter assignments. Exercises, Problems, EXCEL simulations, Quizzes and Exams will be timed and you will not receive any help completing these assignments. The Interactive Presentations are designed to help prepare you for the tougher assignments in each chapter.
Need-to-Know Video Exercises and Guided Examples
Need to know videos are narrated, animated; step-by-step walk-through videos that reinforce the material covered in the Need-to know Illustrations in the chapters. Need to know videos are demonstrations, with full solutions, that pose questions about the material just presented – consisting of content that students “need-to-know” to successfully learn accounting. The need-to-know-videos should be used as a quick review of the content prior to completing the Problems, EXCEL simulations, Quizzes, etc.
Guided Examples provide a narrated, animated, step-by-step walk-through of select exercises which are similar to some of the problems that are assigned for credit. The Guided Examples should be used as a quick review of the content prior to completing the Exercises, Problems, EXCEL simulations, Quizzes, etc.
Problems
Which includes: Exercises, Problems and EXCEL Simulations
Worth a total of 25.0 % of final grade
Exercises and problems are similar to the problems that appear at the end of each chapter. The EXCEL Simulations allow students to practice their EXCEL skills, such as basic formulas and formatting, within the context of accounting. These assignments will be timed and you will have a limited number of attempts (two attempts). You will not have access to the “hints” or “check my work” options while completing these assignments.
Comprehensive ProblemsWorth a total of 10.0 % of final grade
Three Comprehensive Problems will be administered during the semester. The due dates for the problems are on the Course Schedule. Each comprehensive problem is worth 5%.
Smartbook
Worth a total of 10.0% of final grade
The Smartbook assignments for each chapter should be completed after you finish reviewing the Interactive Presentations.
Smartbook helps students study more efficiently by highlighting the most important content on each page of the textbook and asking questions to test your understanding of those concepts. The system adapts to each student’s needs based on the answers provided to the questions, surfacing content to help improve the understanding of what you are reading. The Smartbook assignments are designed to take the average student approximately 40 minutes to complete. For weeks where two chapters are covered the Smartbook assignments will be slightly shorter (approximate average per student equal to 30 minutes per chapter. The time needed per chapter will vary from student to student.
It is likely that you could complete these assignments in less than 45 minutes (or 30 minutes for two chapter weeks) and earn the maximum allowable points for the assignment but doing so could adversely affect your performance in the other chapter assignments. Exercises, Problems, EXCEL simulations, Quizzes and Exams will be timed and you will not receive any help completing these assignments. The Interactive Presentations are designed to help prepare you for the tougher assignments in each chapter.
Canvas Assessments
Quizzes
Worth a total of 25 % of final grade
Each quiz will consist of ten randomly selected multiple choice questions which can come from any of the material covered in the lesson.
You will have one attempt at each quiz and there are no make-up quizzes. You will have one attempt and a limited amount of time to complete each quiz.
Mid-Term Exam
Worth a total of 15.0 % of final grade
The Mid-Term Exam will consist of up to 40 randomly selected multiple choice questions which can come from any of the material covered in chapters 1, 2, 3, 4, 5, 6, 7, and 8
You will have one attempt at the mid-term exam and there are no make-up exams. You will have a limited amount of time to complete the exam and extensions of time to complete the exam will not be allowed.
Final Exam
Worth a total of 15.0 % of final grade
The Final Exam will consist of up to 40 randomly selected multiple choice questions which can come from any of the material covered in chapters 11,12,13,14,15,16,18,20,21,22, and 23 .
You will have one attempt at the final exam and there are no make-up exams. You will have a limited amount of time to complete the exam.
Grading
| Numerical value | Letter grade |
|---|---|
| 93 and above | A |
| 90–92.99 | A- |
| 87–89.99 | B+ |
| 83–86.99 | B |
| 80–82.99 | B- |
| 77–79.99 | C+ |
| 70–76.99 | C |
| 60–69.99 | D |
| below 60 | F |
Responsibility for ensuring grades are recorded on CANVAS correctly
Due to the electronic nature of the grading for this course, there is the potential for some grades to not be entered correctly. To help alleviate this, I have established a joint responsibility structure for ensuring students receive the grades they have earned in this course. Your role as a student in this course is to ensure the grade you earned for each assessment (Interactive presentations, Smartbook, Problems, Quizzes, and Exams) is correctly entered in the CANVAS system. All scores (in CONNECT) will be transferred to your CANVAS gradebook within one week after completion of the assessment – contact me if one week has passed and you do not see your score. Contact me if there are any errors recorded in CANVAS for any assessment.
After completion of the final exam during the University-scheduled final exam week: All assessments scores not already in the CANVAS gradebook will be forfeited.
Notes about final grades;
EXPECT TO RECEIVE THE GRADE THAT YOU EARN. Work all semester toward the grade you desire. At the end of the semester, it is too late to ask for “extra work”, “something you can do to improve your grade”, or for your grade to be “bumped up” because you are “close” to a desired grade. No additional assignments or extra credit will be provided at any point during the semester.
Please refer to the University Grading Policy for Undergraduate Courses for additional information about University grading policies. If, for reasons beyond the student's control, a student is prevented from completing a course within the prescribed time, the grade in that course may be deferred with the concurrence of the instructor. The symbol DF appears on the student's transcript until the course has been completed. Non-emergency permission for filing a deferred grade must be requested by the student before the beginning of the final examination period. In an emergency situation, an instructor can approve a deferred grade after the final exam period has started. Under emergency conditions during which the instructor is unavailable, authorization is required from one of the following: the dean of the college in which the candidate is enrolled; the executive director of the Division of Undergraduate Studies if the student is enrolled in that division or is a provisional student; or the campus chancellor of the student's associated Penn State campus.For additional information please refer to the Deferring a Grade page. Note: If you are planning to graduate this semester, please communicate your intent to graduate to your instructor. This will alert your instructor to the need to submit your final grade in time to meet the published graduation deadlines. For more information about graduation policies and deadlines, please go to the Graduation Information on the My Penn State Online Student Portal.
Academic Integrity
According to Penn State policy G-9: Academic Integrity , an academic integrity violation is “an intentional, unintentional, or attempted violation of course or assessment policies to gain an academic advantage or to advantage or disadvantage another student academically.” Unless your instructor tells you otherwise, you must complete all course work entirely on your own, using only sources that have been permitted by your instructor, and you may not assist other students with papers, quizzes, exams, or other assessments. If your instructor allows you to use ideas, images, or word phrases created by another person (e.g., from Course Hero or Chegg) or by generative technology, such as ChatGPT, you must identify their source. You may not submit false or fabricated information, use the same academic work for credit in multiple courses, or share instructional content. Students with questions about academic integrity should ask their instructor before submitting work.
Students facing allegations of academic misconduct may not drop/withdraw from the affected course unless they are cleared of wrongdoing (see G-9: Academic Integrity ). Attempted drops will be prevented or reversed, and students will be expected to complete course work and meet course deadlines. Students who are found responsible for academic integrity violations face academic outcomes, which can be severe, and put themselves at jeopardy for other outcomes which may include ineligibility for Dean’s List, pass/fail elections, and grade forgiveness. Students may also face consequences from their home/major program and/or The Schreyer Honors College.
How Academic Integrity Violations Are Handled
World Campus students are expected to act with civility and
personal integrity; respect other students' dignity, rights, and
property; and help create and maintain an environment in which all
can succeed through the fruits of their own efforts. An environment
of academic integrity is requisite to respect for oneself and
others, as well as a civil community.
In cases where academic integrity is questioned, the Policy on Academic Integrity indicates that procedure requires an instructor to inform the student of the allegation. Procedures allow a student to accept or contest a charge. If a student chooses to contest a charge, the case will then be managed by the respective college or campus Academic Integrity Committee. If that committee recommends an administrative sanction (Formal Warning, Conduct Probation, Suspension, Expulsion), the claim will be referred to the Office of Student Accountability and Conflict Response.
All Penn State colleges abide by this Penn State policy, but review procedures may vary by college when academic dishonesty is suspected. Information about Penn State's academic integrity policy and college review procedures is included in the information that students receive upon enrolling in a course. To obtain that information in advance of enrolling in a course, please contact us by going to the Contacts & Help page .
Additional Academic Integrity Violations
Please note: Various tutoring websites claim to offer you the opportunity to download answers to everything from accounting problems to quiz questions for little to no cost. Full papers can also be downloaded to submit in place of your own work. Use of these materials, or “ghosting,” is considered cheating and an academic integrity violation. Similarly, uploading exams, course materials, or your work to one of these sites is considered an academic integrity violation.
Using online services that complete assignments for you is considered an academic integrity violation.
Giving your Penn State Access ID and password to someone else to do your work is against University policy AD95/AD96 and an academic integrity violation; sanctions will be given for these violations.
Student Responsibilities and Conduct
- Students are responsible for online course content, taking notes, obtaining other materials provided by the instructor, taking tests (if applicable), and completing assignments as scheduled by the instructor. As a general rule, students should plan on logging into the course at least three times per week and spending at least three hours per course credit per week on the course, e.g., if the course is three credits, the student should plan on spending at least 9-12 hours per week on the course, just as they would in a residence course.
- Students are responsible for keeping track of changes in the course syllabus made by the instructor throughout the semester.
- Students are responsible for monitoring their grades.
-
Students must contact their instructor (and teammates when working on any collaborative learning assignments) as soon as possible if they anticipate missing long periods of online time due to events such as chronic illnesses, death in the family, business travel, or other appropriate events. The instructor will determine the minimal log on time and participation required in order to meet course responsibilities. In the event of other unforeseen conflicts, the instructor and student will arrive at a solution together.
- Requests for taking exams or submitting assignments after the due dates require documentation of events such as illness, family emergency, or a business-sanctioned activity.
- Conflicts with dates on which examinations or assignments are scheduled must be discussed with the instructor or TA prior to the date of the examination or assignment.
- Students are responsible for following appropriate netiquette (network etiquette) when communicating with their instructor and classmates. For reference, see the Academic Success Kit.
- Behaviors that disrupt other students’ learning are not acceptable and will be addressed by the instructor.
-
For severe and chronic problems with student disruptive behavior, the following will be applied for resolution:
- Senate Committee on Student Life policy on managing classroom disruptions: Office of Student Accountability and Conflict Response.
- Penn State Values.
Policies
Late Policy
Late Assignments will not be accepted. It is your responsibility to contact the instructor prior to the due date of an assignment if you are aware of extenuating circumstances that will impact your ability to meet a deadline. The instructor will determine if alternative arrangements may be made.
Blank or Erroneous Assignment Submissions
It is your responsibility to ensure that you have uploaded the correct document to each assignment prior to the assignment due date. Please check your assignment submission immediately after uploading a file in Canvas to ensure that it contains content and is the correct file. If you notice an error, such as a blank or incorrect file, you must resubmit the assignment before the assignment due date. Similarly, you are responsible for ensuring that discussion forum initial posts are not blank and that any website URL submissions (such as links to documents, video recordings, etc.) have the correct sharing settings enabled so that they can be viewed by recipients. Any blank or erroneous submissions that you have not resubmitted by the assignment due date will receive a zero for the assignment.
Accommodating Disabilities
Penn State welcomes students with disabilities into the University's educational programs. Every Penn State campus has resources for students with disabilities. The Student Disability Resources (SDR) website provides contacts for disability services at every Penn State campus. For further information, please visit the SDR website.
In order to apply for reasonable accommodations, you must contact the appropriate disability resources office at the campus where you are officially enrolled, participate in an intake interview, and provide documentation based on the documentation guidelines. If the documentation supports your request for reasonable accommodations, your campus's disability resources office will provide you with an accommodation letter. Please share this letter with your instructors and discuss the accommodations with them as early in your courses as possible. You must follow this process for every semester that you request accommodations.
Veterans and Military Personnel
Veterans and currently serving military personnel and/or dependents with unique circumstances (e.g., upcoming deployments, drill/duty requirements, VA appointments, etc.) are welcome and encouraged to communicate these, in advance if possible, to the instructor in the case that special arrangements need to be made.
Privacy Notice
In order to protect your privacy, course access is limited to those individuals who have direct responsibility for the quality of your educational experience. In addition to the instructor, a teaching assistant or college administrator may be provided access in order to ensure optimal faculty availability and access. World Campus technical staff may also be given access in order to resolve technical support issues.
One Year Course Access
Formal instruction will end on the last day of class. Provided that you have an active Penn State Access Account user ID and password, you will continue to be able to access the course materials for one year, starting from the end date of the academic semester in which the course was offered (with the exception of library reserves and other external resources that may have a shorter archival period). After one year, you might be able to access the course based on the policies of the program or department offering the course material, up to a maximum of three years from the end date of the academic semester in which the course was offered. For more information, please review the University Course Archival Policy.
Additional Policies
For information about additional policies regarding Penn State Access Accounts; credit by examination; course tuition, fees, and refund schedules; and drops and withdrawals, please see the World Campus Student Center website.
Penn State takes great pride to foster a diverse and inclusive environment for students, faculty, and staff. Acts of intolerance, discrimination, or harassment due to age, ancestry, color, disability, gender, gender identity, national origin, race, religious belief, sexual orientation, or veteran status are not tolerated and can be reported through Educational Equity via the Report Bias webpage.
If you have a crisis or safety concern, mental health services are available to you as a Penn State student. Crisis and emergency contacts are available, no matter where you are located:
- Anywhere in the United States: Call the Penn State Crisis Line at 1-877-229-6400 or text LIONS to 741741. You can also contact your local crisis services or hospital for emergencies.
- Outside the United States: Please contact emergency services in your current location. You can also use the International Crisis and Emergency Services listings.
- At University Park: Assistance is available at Counseling & Psychological Services (CAPS) locations on campus.
- At a Penn State branch campus: You can search for counseling information at your campus.