Principles of Accounting I

University of California - Irvine

First in a two course introductory series. Emphasis on financial accounting concepts and practices essential to the administration of business enterprises; including recording and valuation of financial transactions, and preparation, analysis, and interpretation of financial statements.
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24HR Notes for MGMT 30A

Available 24 hours after each lecture


MGMT 30A Syllabus for LIANG, C. — Fall 2018

Revised on 9/26/2018
Management 30A (Section B)
Principles of Accounting I
Course Syllabus for Fall 2018
Chuchu Liang, Ph.D.
Office: SB2 317
Head TA: Annie Wang (
Readers: To be announced
UCI Canvas (for class announcements and materials distribution):
WileyPlus (for pre-class quizzes and homework, course section code: A97436):
Piazza (for questions assistance and discussion, class access code: mgmt30a):
Meeting Time:
Class (30A Section B): Tuesdays & Thursdays, 8:00 AM to 9:20 AM in SB1 1200
Discussion (30 A Section B1): Wednesdays, 12:30 PM 1:20 PM in SB1 1200
Office hours: Tuesdays & Thursdays, 9:30 AM to 10:30 AM in SB2 317
The goal of this course is to introduce you to the fundamental concepts of financial accounting.
Financial accounting information is commonly used by investors, regulators, customers, and suppliers.
Investors include individual shareholders and bondholders, institutional investors (e.g., mutual funds, hedge
funds, private equity firms), lenders (e.g., banks), and potential corporate acquirers. Regulators, such as
the SEC, routinely review financial accounting information. Financial accounting information also plays a
significant role in managerial performance evaluations and day-to-day business decisions.
The focus of this course will be on training you to be a knowledgeable consumer of accounting
information, rather than a producer of such information. We will introduce you to the fundamental concepts
of financial accounting information. A firm grasp of the fundamental mechanics is necessary to become an
effective consumer of financial accounting information. Along the way, I will emphasize the uses and
limitations of financial accounting information.
Accounting is often described as the “language of business.” Anyone who expects to belong to an
organization in which financial information is used to make decisions will benefit from this course. This
includes students who plan to work in industry, investment banking, consulting, non-profits, governments,
and anyone who plans to invest or take an active role in their retirement planning.
Revised on 9/26/2018
Required Textbook Financial Accounting: Tools for Business Decision Making (8th edition) with
WileyPlus Access
Paul D. Kimmel, Jerry J. Weygandt and Donald E. Kieso
Access to WileyPlus (course section code: A97436) is required since a part of your grade will be based on
WileyPlus assignments. WileyPlus provides pre-class quizzes and homework assignments that will be used
for our course. It also contains practice questions to help you practice and understand the course materials.
WileyPlus also comes with access to an e-textbook. Detailed instructions about WileyPlus will be given in
the first week of class and also posted to Canvas.
If you have issues with WileyPlus, click the “WileyPlus Support” button to find the “Live Chat” option. Before
contacting us about any issue with WileyPlus, you must have a WileyPlus ticket number which can only be
obtained by first contacting WileyPlus Support.
Course Web Site We will be using UCI Canvas [] for
distributing materials. A copy of this syllabus, as well as all lecture slides and
selected handouts will be available electronically on the web site.
Question Assistance Our goal is for you not just to pass our course, but to have a thorough understanding
of accounting. Besides me, our TA Annie Wang and readers will be available to
help you throughout the course. Annie will conduct discussion sessions and answer
any questions related to our course. Readers will answer questions directly related
to homework, quizzes and grading. To improve efficiency, the primary sources of
question assistance will be my office hour (in-person) and Piazza (online) [class
access code: mgmt30a]. As such, please try to keep e-mail related our course to a
minimum. However, if you have any questions regarding a personal matter, please
directly send emails to me.
Other Resources Throughout the course we will use example (simplified) financial statements from
actual firms. The original accounting filings can be downloaded for free from the
SEC website [].
Homework Assignments (15%)
Practicing skills that we discuss in class is essential to your learning. There will be six homework assignments
on WileyPlus. Due dates are detailed on the class schedule, which follows. Although you can complete and
receive feedback on your homework assignments at any point during the quarter, WileyPlus will only give you
credit for those assignments turned in on or before their respective due time. Please note that late homework
will not be accepted except in the case of a reasonable documented emergency. Extensions on deadlines will
only be permitted upon my prior approval, which may be given at my sole and exclusive discretion. Note that
we will not grant any extensions due to Internet failure. Plan ahead accordingly.
Students may discuss homework assignments with each other, but students must submit answers on their own.
You should compare your answers with the solution key. If you do not attempt to solve them on your own,
you will find it more difficult to prepare for the quizzes and exams. Directly copying someone else’s answers
will be considered cheating and a violation of UCI’s Academic Integrity Policy. Moreover, making use of any
solution that you may have obtained from any source for an assignment will also be considered a violation of
UCI’s Academic Integrity Policy.
Revised on 9/26/2018
Pre-Class Quizzes (15%)
There will be a pre-class quiz for each chapter on WileyPlus. It is actually a fun self-assessment practice that
you can do to understand the chapter. Warning: it may take you about an hour to complete these questions. This
is to have you prepared for class and allow for richer class discussion. We will count the top 10 of 12 Pre-Class
Quizzes. The policy for late pre-class quizzes is the same as Homework Assignments.
Practice Questions
On WileyPlus, you will find end-of-chapter practice questions for each chapter. While these do not need to be
submitted and will not be graded, we strongly encourage you to complete the practice questions in order to
better prepare for quizzes and exams.
In-Class Quizzes (10%)
There will be three closed-book, in-class quizzes and each quiz takes 15 minutes. There will be no make-up
quizzes; however, the lowest quiz score will be dropped before calculating your overall course grade.
Exams (60%)
There will be a closed-book midterm exam and a closed-book final exam. The midterm is worth 20% and the
final is worth 40%. The final exam will be cumulative. The exams will generally be problem-oriented. Make-
up midterm exam will only be permitted for well-documented emergency situations upon my prior approval.
There will be no make-up final exam. Failure to take the final exam on the date indicated on the attached class
schedule will result in an automatic F for the class.
Grading Summary
Pre-class quizzes ............................................................................... 15%
Homework ......................................................................................... 15%
In-Class Quizzes ............................................................................... 10%
Midterm ............................................................................................. 20%
Final ................................................................................................... 40%
Total ................................................................................................. 100%
Total percentage points earned will determine the letter grade as follows. Note that +/- scale and/or
grading curve may be used at the professor’s discretion based on class performance.
A=90%-100%; B=80%-89%; C=70%-79%; D=60%-69%; F= 59% and below
Class Participation and Professionalism
You should be prepared to discuss the assigned reading(s) and homework problems in class. You are strongly
encouraged to ask questions about anything that is unclear, especially vocabulary. Accounting is a new language
for everyone. Please limit your in-class questions to those relating to the current day’s topic. If the scope of
your question is outside these boundaries, feel free to post your question after class on Piazza or ask it during
office hours. Many sessions will be interactive and participation is required. I reserve the right to “cold-call”
if students do not voluntarily participate
In general, please view each class as equivalent to an important business meeting. You are expected to come to
class on time and to turn off your cell phone. If you must arrive to class late or leave early, please sit in the
back row. Please do not enter class in the front of the room or cross the front of the room during class. You are
not allowed to eat food in class. Drinks in covered containers are allowed in the classroom.
Revised on 9/26/2018
A Nickel’s Worth of Free Advice
Financial Accounting can be a challenging course. Many of the concepts and even the language may be new to
you. Vocabulary is an important part of the course. We will cover a lot of material (12 chapters in our textbook)
in a short period of time (10 weeks of class). You cannot afford to fall behind. Ask about anything that is unclear
as we go along. Accounting is not always logical. The processes we will encounter are a result of historical
practice, political action, compromise, and in some cases seemingly arbitrary decisions. If you are having
difficulties, please let me know. Usually we can help, but only if we know that you are having trouble.
Questions About Grades
If you have a question about any grade you receive, including your final course grade, it must be expressed (1)
in writing (2) within one week of your receiving the grade. Please attach the entire original exam or quiz, along
with a clear description of where you believe you deserve more points, and why. This must be physically turned
in to me during class, or in the office (during office hours or an arranged meeting time). Please also note that
FERPA regulations prohibit discussion of grades via email.
Special Needs
During the first week of classes, inform the instructor of any disabilities or special needs that you have that may
require special arrangements related to attending class sessions, carrying out writing assignments or learning
components, or taking examinations. Students with disabilities need to document the disability at the Disabled
Students Services office.
Academic Integrity
Our university’s policies requiring academic honesty will be strictly applied and enforced. Academic dishonesty
includes, but is not limited to, obtaining copies of, or information about, any prior quizzes or exams given in
prior classes. This specifically includes the use of test banks. It also includes turning in any work product,
including on quizzes or exam, which is the not the result of your sole effort, and collaborating with any third
party. For more information on the duties imposed upon you under UCI’s policy on academic honesty, go to:
Academic dishonesty will result in an F for the course plus additional university-level disciplinary action. There
will be no exceptions made to this policy as I have no tolerance any for academic dishonesty. Remember,
academic integrity is expected of all students of UCI at all times, whether in the presence or absence of members
of the faculty.
Course Add/Drop
All Add/Drop issues are handled by Sarah Link at the Undergraduate Program Office (slink@uci.ed).
Class Schedule and Assignments
If you miss class, you are responsible for the announcements made and materials covered in class. I reserve the
right to modify the schedule as needed. Any changes to the syllabus will be announced in class and posted on
Copyright Statement
The materials used in this class, including, but not limited to, outlines, PowerPoint slides, teaching videos,
cases, study guides, quizzes and examinations, and homework assignments are copyright protected works. Any
unauthorized copying, distributing or disseminating of class materials, including, but not limited to, posting on
social media, websites or the Internet for the purpose of sharing those materials with other current or future
students, is a violation of federal law and may result in disciplinary actions being taken against the student.
Additionally, the sharing of class materials without the specific, express approval of the instructor may be a
violation of UCI’s policy on academic honesty, which could result in further disciplinary action.
Revised on 9/26/2018
Assignment (all dates: 2018)
Lecture 0: Course Introduction / Lecture 1: Introduction
to Financial Statements
KWK: Read Chapter 1
Chapter 2
Register WileyPlus
End-of-chapter practices are available on WileyPlus
Lecture 1: Introduction to Financial Statements (cont’d)
KWK: Read Chapter 1
Chapter 2
Pre-Class Prep: Chapters 1 & 2 due at 11 p.m. on Oct 1
Lecture 2: The Accounting Information System
KWK: Read Chapter 3
Pre-Class Prep: Chapter 3 due at 11 p.m. on Oct 3
Lecture 2: The Accounting Information System (cont’d)
KWK: Read Chapter 3
In Class - Quiz 1 Focuses on material from classes 1
through 4
Lecture 3: Accrual Accounting
KWK: Read Chapter 4
Pre-Class Prep: Chapter 4 due at 11 p.m. on Oct 10
Homework #1: due at 11 p.m. on Oct 10
Lecture 3: Accrual Accounting (cont’d)
KWK: Read Chapter 4
Lecture 4: Merchandising Operations and the Multiple-
Step Income Statement
KWK: Read Chapter 5
Pre-Class Prep: Chapter 5 due at 11 p.m. on Oct 17
In Class - Quiz 2 Focuses on material from classes 5
through 7
Lecture 5: Statement of Cash Flows
KWK: Read Chapter 12
Pre-Class Prep: Chapter 12 due at 11 p.m. on Oct 22
Homework #2: due at 11 p.m. on Oct 22
Lecture 5: Statement of Cash Flows (cont’d)
KWK: Read Chapter 12
Lecture 6: Financial Statement Analysis
KWK: Read Chapter 13
Pre-Class Prep: Chapter 13 due at 11 p.m. on Oct 29
Homework #3: due at 11 p.m. on Oct 29
Revised on 9/26/2018
In-Class - Midterm Focuses on material from classes 1
through 10
Lecture 7: Receivables and Inventory
KWK: Read Chapter 6
Chapter 8
Pre-Class Prep: Chapters 6 & 8 due at 11 p.m. on Nov 5
Lecture 7: Receivables and Inventory (cont’d)
KWK: Read Chapter 6
Chapter 8
Lecture 8: Long-Lived Assets
KWK: Read Chapter 9
Pre-Class Prep: Chapter 9 due at 11 p.m. on Nov 12
Homework #4: due at 11 p.m. on Nov 12
Lecture 8: Long-Lived Assets (cont’d)
KWK: Read Chapter 9
In-Class - Quiz 3 Focuses on material from classes 5
through 8
Lecture 9: Liabilities
KWK: Read Chapter 10
Pre-Class Prep: Chapter 10 due at 11 p.m. on Nov 19
Homework #5: due at 11 p.m. on Nov 19
Thanksgiving Holiday! Nov 22 NO CLASS
Lecture 9: Liabilities (cont’d)
KWK: Read Chapter 10
Lecture 10: Stockholders Equity
KWK: Read Chapter 11
Pre-Class Prep: Chapter 11 due at 11 p.m. on Nov 28
Homework #6: due at 11 p.m. on Nov 28
Lecture 10: Stockholders’ Equity (cont’d)
KWK: Read Chapter 11
Course Wrap-Up, Course Evaluation (Bring Laptop),
Final Exam Review
Final Exam Tuesday, Dec 11, 8:00 am - 10:00 am, SB1 1200
Comprehensive, cover materials from 1 through 20

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