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Text:			Introductory Financial Accounting

Lecture Location:		Blegen 425



Lecture Times:		Section 1  1:15 - 3:00					

			Section 2  3:15 - 5:00

HomePage:

			http://www.csom.umn.edu/wwwpages

			/courses/mba/8130/8130.htm



e-mail address:		jdickhaut@csom.umn.edu



Office Phone:		624-9891 (You are much more likely to get 

			responses if you use e-mail)  Many messages either 

			get lost through voicemail or are lost because the 

			voice messaging service is adding a new feature.



Office Hours:		In this class to maximize your ability to compete in 

			that oft cited place, "the real world", I am making 

			efforts to insure that you learn how to use these 

			electronic devices.  I will be conducting my office 

			hours through e-mail.  If you leave me an e-mail 

			message it will be returned usually within a day, 

			unless there is some emergency.  I will hold office 

			hours with individual students only when we have 

			failed to reach accord through e-mail.



I.	PURPOSE OF CLASS



	

	The purpose of this class is to introduce you in general to the

	subject	of business transactions and the language for reporting 

	those transactions, namely accounting.  We begin with a discussion 

	of decision making.  In particular, we will emphasize the 

	concept of present value.  Present value is the fundamental method 

	we now have for deciding to engage in a transaction.  Then we 

	overview financial statements and the accounting system.  We will 

	end with an in-depth look at specific assets, liability and 

	owner's equity accounts.  Throughout the course there will 

	be an emphasis on transactions and the way they are represented.  

	You will observe transactions in real markets, you will examine 

	how transactions are reflected in real world financial statements, 

	and you will conduct your own business transactions which you will 

	then report.



II.	COURSE MATERIAL



	A.	TEXTBOOK CONTENTS



		1.	Chapters 1-5, 6-11

			Introductory Financial Accounting (IFA) by 

			Mueller and Kelly



			When the syllabus refers to a chapter, it is 

			from this textbook.



		2.	The Financial Statements of IBM and Microsoft.



			These statements will be used in the lectures 

			to provide real examples for the topics we cover.  

			They are also the companies whose derivative shares 

			will be traded in our asset market.  We will also 

			use a cash flow analysis framework that 

			replicates real world cash flow analysis.



	  	3.	Extra problems for later chapters 

			in the textbook.(JDH)



		4.	Manual for the Asset Market, will be found in 

			the John Dickhaut HomePage.  (JDH)



		5.	HomePage Addresses





	John Dickhaut HomePage

	http://www.csom.umn.edu/wwwpages/courses/mba/8130/8130.htm



	Carlson HomePage

	http://www.csom.umn.edu



	IBM HomePage

	http://www.ibm.com/



	Apple Computer HomePage

	http://www.apple.com/



	Microsoft HomePage

	http://www.microsoft.com/



	American Accounting Association HomePage

	http:/www.rutgers.edu/Accounting/aaa/aaa.html



	Iowa Electronics Market HomePage

	http://www.biz.uiowa.edu/iem/indix.html



	Edgar HomePage

	http://town.hall.org/edgar/edgar.html



	Billion Dollar Directory

	http://research1.byrant.edu/~nhannon/corp.html



	Dave Albrecht HomePage

	http://www.cba.bgsu.facstaff/dalbrec





III.	ASSET MARKET



	You will buy and sell assets in a computerized Asset Market.  

	This market will help you develop an understanding of the 

	role of information  in the valuation of a firm.  The market 

	will be open for approximately one month.  To get a start at 

	understanding how this market operates and some initial 

	instructions go to --



	Iowa Electronic Market HomePage

		http://www.biz/iowa.edu/iem/index.itml 



	You are required to trade in this market.  You will begin the 

	market with a number of shares of securities and some cash.  

	In the market you will either sell shares or use your cash to 

	buy more shares.  As noted on the syllabus, you must hand in a 

	set of financial statements (balance sheet, income statement and 

	statement of cash flows).  These statements will reflect the 

	status of your portfolio of assets and the income you have 

	earned (or the loss you have incurred) as a trader in the market.  

	This exercise is an important aspect of the class.  It allows 

	you to understand the choices that must be made in the construction 

	of the financial statement and the effect that these choices have 

	on asset valuation and income determination.



	Two components of the grading in this class are tied to this 

	market.  First the construction of financial statements and 

	second the paper on market micro structure.



IV.	GRADING



	Your grade will be composed of the following:



		Quiz 1:  October 6		 50 points

		Quiz 2:  October 20		 50 points

		Quiz 3:  November 3		 50 points

		Quiz 4:  November 17		 50 points

		Financial Statements #1		 50 points

		Financial Statements #2		 50 points

		Micro-structure Paper		100 points

			Total			400 points





V.	CLASS ASSIGNMENTS



	A schedule of class assignments follows.



	Prerequisite Assignments - DUE AT FIRST CLASS



	Quiz Location:

		Law 25



	Quiz Dates:

		Quiz 1	Friday, October 6

		Quiz 2	Friday, October 20

		Quiz 3	Friday, November 3

		Quiz 4	Friday, November 17



	Financial Statements Due:

		Set #1	Friday, October 27

		Set #2	Wednesday, November 15



	Micro-structure Paper Due:

			Thursday, November 23



	Homework Problems:  I do not collect homework problems.  I 

	strongly recommend you work on the problems in groups.  

	Solutions to the problems will be provided.