AUSTIN COMMUNITY COLLEGE
FINANCIAL STATEMENT ANALYSIS
LECTURE: THURS, 7:05 PM -9:45 PM, EVC: Room 8111
Office: RGC, Peach…
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AUSTIN COMMUNITY COLLEGE
FINANCIAL STATEMENT ANALYSIS
LECTURE: THURS, 7:05 PM -9:45 PM, EVC: Room 8111
Office: RGC, Peach Street Bldg, Room 2G
Web site: www.austincc.edu/dwhite3
Blackboard site: http://acconline.austincc.edu
Office Hours: At RGC: Mon, 1:30 -2:30 PM
Tues, 9:30 -10:15 AM and 5:45 - 6:45 PM;
Wed, 10:30-11:30 AM;
Thurs, 1:30 – 3:30 PM
At EVC: Thurs, 5:45 – 6:45 PM (Adjunct Office, 8115)
Or, By Appointment
? This course is a study of the process of business analysis and valuation through the evaluation of
financial statements. Topics include analysis of financial statements and ratio, strategic, prospective,
equity and credit analysis.
? This course presumes a thorough understanding of intermediate accounting principles in order to
successfully master the course content.
? This course requires the ability to express the analysis of cases and other course work in writing that
meets professional standards.
COURSE PREREQUISITE: ACNT 2304, Intermediate Accounting II or its equivalent at an accredited
college or university. There are no exceptions. A student may be withdrawn from the class if the
prerequisite has not been successfully completed.
Austin Community College has received the designation of Qualifying Educational Credit for CPA
Examination by the Texas State Board of Public Accountancy (Board). This course qualifies as one of the
30 required upper-level accounting courses. However, for this course to be counted, the student MUST
have completed a bachelor's degree PRIOR to taking this course. If this course is completed before a
bachelor's degree is awarded, the Texas State Board of Public Accountancy will not accept it. Please
review the information on our web site http://www.austincc.edu/accting/cpainfo.php. It is the
responsibility of the student to understand and comply with the requirements of the Texas State
Board of Public Accountancy.
Basic computer skills utilizing the internet, spreadsheets, word-processing and presentation software are
required for this course. Generally, all assignments are to be prepared on the computer and presented in
a format that would be acceptable in a business environment. Access to computers is available at the
Denise White Page 1 of 5 Spr 08
? Business Analysis & Valuation: Using Financial Statements, Palepu & Healy, 4e, Thomson South-
Western and Finance Casebook, Various Authors, 2008, Cengage Learning. The Casebook is a
customized book. It will be sold with the text (shrink-wrapped) at the ACC bookstore.
? Calculator brought to class each meeting
SCANS is the Secretary’s Commission on Achieving Necessary Skills. Please go to
http://www.austincc.edu/mkt/scans.htm#whatis for complete definitions and explanation of SCANS. This
list summarizes the SCANS competencies addressed in this particular course.
1. Exhibition of responsibility
• Students meet established deadlines as specified by the instructor.
• Students regularly attend classes prepared and on time.
• Students exhibit reliability and dependability in the performance of group related tasks.
2. Acquisition of Information
• Students identify the need for data, obtain it from existing sources, or create it as necessary.
• Students use computers to process information.
• Students understand financial accounting.
3. Use of Information Skills
• Students evaluate the relevance and accuracy of information and its appropriateness for a given
• Students effectively communicate the results of information retrieval and analysis using oral,
written, graphical, pictorial, or other methods as appropriate.
• Students apply technology to problem solving activities.
4. Demonstration of Writing Proficiency
• Students display the proper use of grammar and appropriate writing skills in all assignments.
• Students seek writing assistance from tutors or others when necessary.
The primary methods of instruction include course lecture, periodic exams, case analysis, team
assignments, and use of business software.
1. Integration of technology -Students engage in problem solving and analysis using Internet resources
and online databases (Hoovers.com, BizYahoo.com.) and basic business software (Microsoft Excel) to
2. Intensive writing - Students analyze financial statements and other financial data and prepare financial
3. Accounting Research - Students prepare financial statement analysis projects based on the results of
Academic Freedom Statement: Each student is strongly encouraged to participate in class. In any
classroom situation that includes discussion and critical thinking, there are bound to be many differing
viewpoints. These differences enhance the learning experience and create an atmosphere where students
and instructors alike will be encouraged to think and learn. On sensitive and volatile topics, students may
sometimes disagree not only with each other but also with the instructor. It is expected that faculty and
students will respect the views of others when expressed in classroom discussions. (See Student Handbook:
Student Discipline: Classroom behavior should support and enhance learning. Behavior that disrupts the
learning process will be dealt with appropriately, which may include having the student leave class for the
rest of that day. In serious cases, disruptive behavior may lead to a student being withdrawn from the class.
ACC's policy on student discipline can be found in the Student Handbook: www.austincc.edu/handbook
Denise White Page 2 of 5 Spr 08
Scholastic Dishonesty: Acts prohibited by the college for which discipline may be administered include
scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, unauthorized
collaboration with another in preparing outside work. Academic work submitted by students shall be the
result of their thought, research or self-expression. Academic work is defined as, but not limited to tests,
quizzes, whether taken electronically or on paper; projects, either individual or group; classroom
presentations, and homework. Electronic devices may not be used for exams unless specifically authorized
by the instructor. Penalties for scholastic dishonesty will depend upon the nature of the violation and may
range from lowering a grade on one assignment to an F in the course and/or expulsion from this institution.
See Student Handbook: www.austincc.edu/handbook
Students with Disabilities Statement: Each ACC campus offers support services for students with
documented physical or psychological disabilities. Students with disabilities who believe that they may
need accommodations in this class are encouraged to contact the Office for Students with Disabilities at
223-3142 or 223-3126 or room 150 in the Annex as soon as possible to better ensure that such
accommodations are implemented in a timely fashion. (See Student Handbook:
Grade Change Policies: Click on this link to view the policy. See Student Handbook:
COURSE EVALUATION/GRADING SYSTEM:
Activity Percent Points
3 Exams 50% 300
6 Written Analyses 25% 150
3 Accounting Exercises 15% 90
Class Participation 10% 60
TOTAL 100% 600
Basis for Grading:
Below 360 F
Attendance: Your attendance is expected at all classes. For this semester, there are 15 classes.
Withdrawal: November 24, 2008 is the last day to withdraw from this class and receive a grade of “W”. If
you wish to withdraw, it is your responsibility to do so. DO NOT ASSUME THAT I WILL
WITHDRAW YOU. I have no obligation to do so.
Incomplete: Incomplete grades are given only on rare occasions at my discretion. Generally, to receive an
Incomplete, a student must have completed all examinations and assignments to date, be passing, and have
personal circumstances that prevent course completion that occur after the deadline to withdraw.
Blackboard: I maintain a Blackboard site for this class. You will be able to log onto the Blackboard site
http://acconline.austincc.edu to gain access to:
? Course announcements
? Class material
? Grade book
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Your user name for Blackboard is your ACC eID. This is your 7 digit ACC student ID, preceded by the
first initial of your official first name. During the activation of your ACC eID, you will select your
password. If you do not know your ACC eID, you may retrieve it via the Blackboard home page by
clicking the “What’s my ACC eID?” link, located above the user name and password boxes.
To use Blackboard, you do not have to have Internet access at home. Blackboard access is available
through any ACC computer.
Exams: DO NOT MISS EXAMS. If you must miss an exam, please contact me BEFORE the start of class
by email, phone or a note in my mailbox. Make-up exams will be given at my discretion, on a day other
than our class day. If a make-up test is arranged, 5 points may be deducted.
Written Analyses: There will be 5written assignments from the casebook and 1 assignment about the
Business Valuation Model, all of which must be completed outside of class. These assignments will require
discussion and presentation in class. Late assignments will be accepted, but will be penalized 25% of its
points. These assignments must be done utilizing MS Excel or MS Word (or equivalent). Please no
Accounting Exercises: There will be 3 accounting –based assignments that are designed to reflect the kind
of accounting knowledge necessary to adequately evaluate financial statements.
Class Activities: Graded class activities will consist of class discussion, team-based case and problem
solving. In order to participate, you must come prepared with completed assignments and familiarity with
the chapter to be covered.
? The CPA examination includes a writing skills exercise as part of each case study simulation. The
candidate is expected “to provide the correct information in writing that is clear, complete and
professional.” Therefore, the quality of your writing will be reflected in your grade in this class. If
writing is not your strength, have someone review your work for organization, word usage, and
spelling and grammar errors. The ACC Learning Labs have writing tutors on staff.
? Additionally, do not plagiarize. Cutting and pasting from any source, without appropriate citation, is
considered plagiarizing and is unacceptable. Any assignment that violates this policy on “cutting and
pasting” will receive no more than 60% of the maximum points.
? This is a demanding, upper level college course, requiring significant study time outside of class.
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COURSE CALENDAR: FALL 08
WEEK CLASS TOPIC and RELATED ASSIGNMENTS
DATE CHAPTER DUE
1 8/28 Introductions In-class work only
Topics: Accounting Information
Sources & Articulation of Statements
Ch 1 Framework for Business Analysis
2 9/04 Ch 2 Strategic Analysis Accounting Exercise #1
3 9/11 Ch 3 & 4 Accounting Analysis Accounting Exercise #2
Topic: Liabilities and Equity Assignment #1: Role of Capital
Markets in Dot-Com Crash
4 9/18 Ch 4 Accounting Analysis Accounting Exercise #3
Topic: Earnings Quality and Earnings
5 9/25 Test 1- Accounting Practice & Ch 1
6 10/02 Ch 5 Financial Analysis Assignment #2 :Analysis of “Tread
Topics: Revenue Recognition & Lightly through These Accounting
Cash Analysis Minefields”
7 10/09 Topic: Pensions
Ch 6 Prospective Analysis: Forecasting
8 10/16 Test 2- Ch 3, 4, 5, 6, Revenue
Recognition, Cash Analysis, Pensions
9 10/23 Ch 7 & 8 Prospective Analysis: Assignment #3: CUC international,
Valuation Implementation Inc
10 10/30 Ch 7 & 8 Prospective Analysis: Assignment #4: BAV Model
Topic: Wal-Mart & BAV Model
11 11/06 Topics: EPS
Ch 9 Equity Security Analysis
Ch 10 Credit Analysis
12 11/13 Ch 10 Credit Analysis
13 11/20 Topic: Corporate Investments Assignment #5: Amazon.com
Ch 11 Mergers & Acquisitions
14 11/27 Thanksgiving
15 12/04 Ch 12 Communication & Governance Assignment #6: Computer
16 12/11 Test 3: Ch 7 - 12
Please note: This schedule is subject to change due to the pace of the class.
Denise White Page 5 of 5 Spr 08