Introduction to Financial Accounting (Tuck 001)
Professor Robert J. Resutek
This course is an introduction to financial accounting. The course gives students the necessary background to: (1) understand the concepts and measurements that underlie financial statements, (2) develop the skills needed to analyze financial statements effectively, and (3) gain an understanding of the choices enterprises make in reporting the results of their business activities. Students will be exposed to the decisions firms make relating to their operating, capital investment, and financing policies. Emphasis is placed on understanding both the mechanical elements of financial accounting and the discretion managers have when reporting financial results. At the end of the term, students should have the requisite accounting knowledge needed to forecast financial statements and to value firms.
The course uses interactive case discussions based on analysis of actual companies' financial statements. Students will be encouraged to work in groups, although there is no mandatory group project and all assignments must be individually prepared.
Grades will be a function of student performance on homework, case write-ups, 'pop' quizzes, a midterm, and final exam. In addition, a small part of the student's grade will be based on class participation.
The course has no prerequisites and is open only to seniors, juniors, and sophomores with priority given by class year. Students enrolled in the course are eligible to elect the Non-Recording Option.
The textbook for the course will be Financial Accounting by Stickney, Weil, Francis, and Schipper (13th Edition). Coursepacks will be available through Wheelock Books and a copy of the textbook and coursepack will be placed on reserve at Baker library.