Main Content
Syllabus
The information presented here is reflective of the MBA version of this course. Content, assignments, and other aspects of the class may vary when offered in other programs.
MBADM 811: Financial Accounting
Overview | Objectives | Materials | Library Resources | Technical Requirements | Course Requirements and Grading | AI Policy | Course Schedule | Academic Integrity | Accommodating Disabilities
Overview
This course provides students with a concentrated and encompassing introduction to financial accounting. Course content focuses on (1) the framework and conventions that define accounting rules and practice under Generally Accepted Accounting Principles, (2) recording business transactions in the accounting system, (3) the content and presentation of corporate financial statements, and (4) basic ratio analysis of the financial statements.
Prerequisites
There are no prerequisites for this course, but in order to move on to the Accounting Foundations concentration, you must earn a B in this course.
Course Objectives
Upon completion of this course, you should be able to do the following:
- Understand and articulate how financial accounting serves as a process for holding business executives accountable for how they manage other people’s money.
- Understand and articulate the conventions and institutional frameworks that establish accounting and financial reporting for public corporations in the United States.
- Demonstrate and utilize a working knowledge of accounting terms used in business.
- Prepare accounting journal entries for fundamental business transactions, and analyze the effects of those transactions on the financial statements.
- Demonstrate a general working knowledge of and familiarity with corporate financial statements.
- Utilize basic ratios to analyze a company's financial performance.
Teamwork in the OMBA
Each OMBA course will include some level of teamwork, given the importance that group dynamics has in the contemporary professional environment. Course team activities are designed to allow for active group problem solving and decision making. Student Badges, created in the Team Performance Course, serve as an introductory point of reference for your team members to get to know you, and your preferred working environment. OMBA teams are encouraged to meet at the beginning of each course, in order to draft/discuss a team contract, that will define that critical components of how best to work together.
Synchronous and Asynchronous Learning
In order to provide an optimal learning experience, all OMBA courses will incorporate both synchronous (live) and asynchronous (on your own) learning activities that create balance, stimulate engagement, and appeal to diverse learning styles. Zoom is one example of a synchronous tool used in the OMBA. All synchronous sessions will be recorded for your convenience. Live attendance is not mandatory. Conversely, asynchronous tools include discussion boards, blogs, quizzes, and tests where participation occurs at your own pace but within stated deadlines and due dates. Instructors will identify when and how each synchronous and asynchronous tool will be used throughout their course.
Required Course 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.
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. |
| Help | If you need technical assistance at any point during the course, please contact the Service Desk. |
Student Education Experience Questionnaire (SEEQ)
During the semester you will receive information about 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 Requirements and Grading
Assessments
Individual Assessments
- Practice Exercises (10%): The practice exercises are embedded in the Canvas lesson. Their purpose is to reinforce the material in the section you've just read by allowing you to check your understanding. Exercises include completing short problems or calculations, preparing journal entries or simple financial statements, and using the information found in real financial statements. When you submit your answer to an exercise, you'll receive immediate feedback showing the correct and incorrect portions of your answer. You have as many attempts as you need to correctly complete each exercise. You may also go back after receiving your point to use the exercise for additional practice. Select “take the quiz again” to repeat the exercises. You will not lose the point that was previously awarded. The practice exercise due dates listed in the course schedule and modules correspond to the end date for that particular lesson. However, you may still complete them and receive full credit as long as they are completed by the last day of classes.Please ignore the “late” notification that will be shown if you complete the exercise after the lesson's end date.
- Homework (30%): You select each homework assignment in the respective lesson module to access the homework for that lesson. The homework problems present various business scenarios and require you to apply the concepts you've studied in your readings. Many students have said that working the homework problems is the best way to learn accounting. The assignments are set up so that you can attempt the problems as many times as you wish within each lesson week and check your answers as you go. Your best score submitted before the due date and time will count for grading purposes. If during the lesson week, you need to stop working and go back to the assignment later, you can pick up where you left off. If you're struggling with a problem, don't worry. Please be sure to hit the submit button before the due date. After the due date, you'll be shown the answers to the problems. If you still have questions about any homework problems after seeing the correct answers, please contact your instructional team for additional support. It's very important that you thoroughly understand how to solve the problems!
- If you submit homework after the due date, you must provide a screenshot for each problem and include the screenshot(s) in a Word document or PDF. Please make sure the screenshots include the green checkmarks/red Xs that Connect creates when you check your answers. Send this file to your course instructor and TSS(s).
- The following late penalties are outlined below:
- One (1) week - 10% deduction
- Two (2) weeks - 30% deduction
- Three (3) weeks - 50% deduction – no homework accepted more than 3 weeks after the due date.
Please be aware that no homework will be accepted after the last day of class.
- Discussion Participation (10%): The discussions ask you to further explore the lesson topic or to discuss related business issues in a forum where you can interact with your peers. Discussions will be most valuable if you give some thought to your posts and share your knowledge and experiences. The discussions ask you to post your thoughts and some require a response to a discussion group member. Please consult each discussion for specific due date(s) as some have two posts and others one post. You will receive a grade for each discussion that will reflect your effort in contributing to the discussion. A rubric is provided with each discussion as a guide for the discussion grade. Please understand that the discussion grade is, by necessity, somewhat subjective.
- You will receive no credit for discussion posts that are over two (2) weeks late.
- No discussions will be accepted after the last day of class
- Exams (30%): There will be three exams, due on the dates shown in the schedule. Each exam, including the third exam completed during finals week, will focus on only the topics covered since the last exam. However, accounting knowledge is inherently cumulative. For each exam, you will be expected to already know the basic concepts from all previous topics. Each exam will consist of 30 multiple-choice questions, and you will have 2.5 hours to complete the exam. You may take the exam at any time during the dates/times listed for each exam provided you complete the exam before the end of the exam window. The exam timing windows will not be changed except in exceptional circumstances. For Exam 1 (covers Lessons 1-3), you may not refer to notes, books, or any other aids. Exams 2 (covers Lessons 4-8) and 3 (covers Lessons 9-13) are open-book, open-notes. You may use a calculator and scratch paper as necessary, but you may not consult other people or online sources as you take the exams. There are no exam retakes.
Team Assessments
- Team Assignments (15%): You will work in teams on two assignments during the semester. The assignments will allow you to think from a corporate manager's point of view and apply accounting concepts to realistic situations. A team home page is provided in Canvas to facilitate messaging and posting drafts as you work on the assignment. The deliverable for each assignment is submitted online in Canvas by one team member only. Specific instructions will be given with each assignment, and a grading rubric will be available. Please submit your completed assignment by the due date using the Submit button on the Team Assignment page. You will have ONE OPPORTUNITY to correct or improve your assignment after receiving your grade and instructor feedback. Assignment corrections must be submitted within seven (7) days of posted grades. The maximum grade on a revised assignment will be 90%. The penalty after the resubmission due date and time is 20% for any portion of a day.
- Team Assignment Peer Evaluation (5%): An evaluation of the work done by your project teammates (and your own work) will be due at the end of the semester. The evaluation form will be provided and will include space for comments. When entering the Peer Evaluation, it will ask you which team you want to review. Be sure to select MDADM 811 Team Assignments. There will be a 20% penalty on an individual's score if that person does not complete the Peer Evaluation.
Collaboration and Teams in the OMBA
Helping you to enhance skills and competencies related to group dynamics and teaming is a principle goal of the OMBA. Consequently, this course includes team activities and group work that allows for the application of teaming concepts that you learned in the Team Performance course (MBADM 810). You are expected to work in teams effectively and productively to complete all team assignments. Students may not request to work individually on team projects. Any adjustments to team composition are the sole right of the instructor. If you have concerns related to this commitment, please contact your instructor.
Honor Code and Professionalism
As a professional, you are expected to act with the highest level of integrity and an exemplary work ethic. Likewise, in this course, you are required to adhere to the Smeal Honor Code and the Penn State University Code of Conduct, and also to hold your peers accountable to the same standards. In team assignments, you should do your share of the work, on time, and to the best of your ability. In discussions, always be courteous and accepting of others' thoughts. Be supportive of classmates on assignments that allow or encourage collaboration. Keep in mind that you are in this course to study and learn new material that will benefit you in the future; you are not here to simply get a grade in the easiest way possible. Enjoy and embrace the learning experience with an ethical mindset, and you will always be proud of your work.
Grading
Grades will be determined based on the following weighted categories.
| Category | Percentage of Final Grade |
|---|---|
| Practice Exercises | 10% |
| Homework | 30% |
| Discussion Participation | 10% |
| Exams | 30% |
| Team Assignments | 15% |
| Team Peer Evaluation | 5% |
| Total | 100% |
Final grades will be assigned as follows. There are no extra credit opportunities. Thank you for understanding this policy.
| Percentage Earned | Letter Grade |
|---|---|
| 93–100% | A |
| 90–92.9% | A- |
| 87–89.9% | B+ |
| 83–86.9% | B |
| 80–82.9% | B- |
| 77–79.9% | C+ |
| 70–76.9% | C |
| 60–69.9% | D |
| 0–59.9% | F |
Please refer to the University Registrar's 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.
Course Schedule
Note: All due dates reflect North American eastern time (ET).
- Spring and Fall Semesters: 16 weeks
- Summer Semester: 12 weeks
Week 1
Week 2
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
Week 9
Week 10
Week 11
Week 12
Week 13
Week 14
| Lesson 14 | Financial Statement Analysis |
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| Readings |
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| Assignments |
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Week 15
Week 16
| Exam 3 |
Exam Week |
|---|---|
| Readings |
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| Assignments |
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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 .
Accommodating Disabilities
Penn State welcomes students with disabilities into the University’s educational programs. Every Penn State campus has an office for students with disabilities, including World Campus. The Disabilities and Accommodations section of the Chaiken Center for Student Success website provides World Campus students with information regarding how to request accommodations, documentation guidelines and eligibility, and appeals and complaints. For additional information, please visit the University's Student Disability Resources website.
In order to receive consideration for reasonable accommodations, you must contact the appropriate disability services office at the campus where you are officially enrolled, participate in an intake interview, and provide documentation. If the documentation supports your request for reasonable accommodations, your campus's disability services 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.
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.