NORTH CENTRAL TEXAS COLLEGE COURSE SYLLABUS

The North Central Texas College (NCTC) Course Syllabus provides the following as required by the Texas Higher Education Coordinating Board (THECB): (1) a brief description of the course including each major course requirement, assignment and examination; (2) the learning objectives for the course; (3) a general description of the subject matter of each lecture or discussion; and (4) any required or recommended readings.  Contact information for the instructor is also provided. The Course Syllabus also provides institutional information to indicate how this course supports NCTC’s purpose and mission. Information specific to a particular section of the course will be included in the Class Syllabus and distributed to enrolled students.

 

Course Title:  Principles of Financial Accounting
Course Prefix & Number:  ACCT 2301	Section Number: 400 & 405	Term Code: 162S
Semester Credit Hours:  3	Lecture Hours: 48	Lab Hours: 0
Course Description (NCTC Catalog): Fundamentals of financial accounting concepts and interpretation of accounting data; analysis of financial statements; income and cash flow analysis; nature of assets, liabilities and equities; understanding and use of the accounting process. Course will include computer applications.
Course Prerequisite(s): Recommended prerequisite: MATH1314 and BCIS1305 or equivalent. Recommended co-requisite: MATH 1324 – Mathematics for Business & Social Sciences
Course Type: x- Academic General Education Course (from Academic Course Guide Manual but not in NCTC Core) o - Academic NCTC Core Curriculum Course o - WECM Course

 

Name of Instructor:	Dee Amaradasa
Campus/Office Location:	Corinth Campus, Room 333
Instructor Office  Hours:	·         MW 12:00   Noon – 3:30PM ·         F 12:00   Noon – 3:00PM
Telephone Number:	940-498-6414
E-mail Address:	damaradasa@nctc.edu

 

Name of Chair/Coordinator:	Doug Akins
Office Location:	Corinth Campus, Room 207-A
Telephone Number:	940-498-6261
E-mail Address:	dakins@nctc.edu

 

 

REQUIRED OR RECOMMENDED COURSE MATERIALS

 

E-book: Financial Accounting: Information for Decisions, 8e by John J. Wild with Connect Plus and SmartBook.  McGraw Hill.   The lowest price option for you is to buy the textbook and access directly from the publisher.  When you register with McGraw Hill Campus, there will be an option for you to purchase the e-text directly from the publisher.  If you need a printed copy, you can upgrade your purchase for an additional fee.  All ACCT Course materials can be purchased from the NCTC Bookstore or online from the publisher. Scantron forms for test taking (only final exam), pencil, paper, index cards and calculator (no graphing calculators).

 

COURSE REQUIREMENTS, EVALUATION METHODS AND GRADING CRITERIA

# of Graded Course Elements	Graded Course Elements	Percentage or Points Values
Various	In Class Group Assignments	180 points - 15%
Daily	Attendance	90 points –  7.5%
Various	Ready Assignments	90 points -  7.5%
12	Homework	360 points - 30%
3	3 Unit Exams	240 points – 20%
1	Final Exam (Comprehensive)	240 points - 20%
	Total Points Possible	1200 points - 100%

 

GRADING POLICY:

Letter grades for this course will be assigned in accordance with NCTC standard grading policy. 

                A  90%-100%        D  60%-69%

                B   80%-89%          F   0-59%               

                C   70%-79%

INSTITUTIONAL LEARNING GOALS

 

o            A quality general education curriculum in all associate degree programs.

x           Quality freshman and sophomore level courses in arts and sciences which parallel the lower division offerings of four-year colleges and universities.

o            Quality technical programs leading directly to careers in semi-skilled and skilled occupations, and quality technical education programs up to two years in length leading to certificates and associate degrees.

o            Quality programs and services in support of adult literacy and basic skills development as a mean of workforce enhancement and expanding access to higher education.

 

PROGRAM PURPOSE STATEMENT

 

NCTC seeks to implement its goal of providing quality freshman and sophomore level courses in arts and sciences that parallel the lower division offerings of four-year colleges and universities by offering a coherent sequence of courses with appropriate breadth and depth to prepare student for transfer to a university.

 

 

DEPARTMENTAL PURPOSE STATEMENT

 

The purpose of the Business Management Department is to provide certificate and degree options in business management that will allow students to enter and advance in the workforce or enter four-year institution to pursue a higher degree.

 

STUDENT LEARNING OUTCOMES

 

Upon successful completion of this course, students will:

• Use basic accounting terminology and the assumptions, principles, and constraints of the accounting environment.
• Identify the difference between accrual and cash basis accounting.
• Analyze and record business events in accordance with U.S. generally accepted accounting principles (GAAP).
• Prepare adjusting entries and close the general ledger.
• Prepare financial statements in an appropriate U.S. GAAP format, including the following: income statement, balance sheet, statement of cash flows, and statement of shareholders’ equity.
• Analyze and interpret financial statements using financial analysis techniques.
• Describe the conceptual differences between International Financial Reporting Standards and U.S. generally accepted accounting principles.

 

 

 

ACCT

GENERAL DESCRIPTION OF SUBJECT MATTER FOR EACH LECTURE/DISCUSSION

 

Topic	General Description of Subject Matter
Financial Statements	Foundational principles of accounting, elements of basic financial statements, and how those financial statements articulate with each other.
Transaction Analysis	Accounting transactions and how those transactions are recorded, summarized, and compiled into financial statements.
Accrual Accounting and Income	Accrual and cash basis accounting, revenue and expense recognition, the adjusting process, the closing process, and financial statement preparation.
Internal Control and Cash	Internal control concepts and cash including bank reconciliations.
Receivables	Measurement and reporting concepts and methods for accounts receivable and related accounts
Inventory and Cost of Goods Sold	Measurement and reporting concepts for inventory
Plant Assets, Natural Resources and Intangibles	Accounting for fixed assets, intangible assets, and natural resources including depreciation calculations.
Liabilities	Accounting for current and long term liabilities including bonds payable.
Stockholder’s Equity	Accounting concepts related to capital stock, treasury stock, retained earnings and dividends.
The Income Statement	The income statement.
The Statement of Cash Flows	Preparation and interpretation of information from the Statement of Cash Flows
Financial Statement Analysis	Ratio analysis, trend analysis.

 

 

 

Last day to Withdraw	For the Spring 2017 semester, the last day to withdraw from a course with a “W” is Thursday, April 6th, 2017.
Student Rights & Responsibilities	NCTC Board policy FLB (Local) Student Rights and Responsibilities states that each student shall be charged with notice and knowledge of the contents and provisions of the rules and regulations concerning student conduct.  These rules and regulations are published in the Student Handbook published in conjunction with the College Catalog.  All students shall obey the law, show respect for properly constituted authority, and observe correct standards of conduct.
Scholastic Integrity	Scholastic dishonesty shall constitute a violation of college rules and regulations and is punishable as prescribed by Board policies. Scholastic dishonesty shall include, but not be limited to cheating on a test, plagiarism, and collusion.

 

 

STUDENT SUPPORT SERVICES
Disability Services (OSD)                   Support Services                                   Early Alert/CARES	The Office for Students with Disabilities (OSD) provides accommodations for students who have a documented disability. On the Corinth Campus, go to room 170 or call 940-498-6207. On the Gainesville Campus, go to room 110 or call 940-668-4209.  Students on the Bowie, Graham, Flower Mound, and online campuses should call 940-668-4209. North Central Texas College is on record as being committed to both the spirit and letter of federal equal opportunity legislation, including the Americans with Disabilities Act (ADA) of 1990, ADA Amendments Act of 2009, and Section 504 of the Rehabilitation Act of 1973 (P.L. 93-112).   http://www.nctc.edu/StudentServices/SupportServices/Disabilityservices.aspx   Counseling and Testing staff offer a variety of services to current and prospective students, such as College 101, placement testing, academic advising and course registration, transfer assistance, and College Success seminars (Time Management, Study Skills, Test Anxiety, Choosing a Major, Learning Style Strategies, Career Exploration), and much more.  http://www.nctc.edu/StudentServices/CounselingTesting.aspx   Student Success offers academic coaching, tutoring, including a Writing Center, a Math Lab, free 7 hours per academic year of online tutoring through Tutor.com and assist new students acclimate to college by providing computer lab services for prospective students.   First generation students can also participate in TRIO which offers specialized support services. http://www.nctc.edu/StudentServices/SupportServices.aspx   Financial Aid offers financial resources for students that qualify, visit the financial aid offices for more information.  http://www.nctc.edu/FInancialAidHome.aspx     The NCTC Early Alert program has been established to assist students who are at risk of failing or withdrawing from a course. Your instructor may refer you to this program if you are missing assignments, failing tests, excessively absent, or have personal circumstances impacting your academic performance. If submitted as an Early Alert you will be notified via your NCTC e-mail address and then contacted by a Counseling and Testing advisor or counselor to discuss possible strategies for completing your course successfully.  The NCTC CARES (Campus Assessment Response Evaluation Services) Team addresses behavior which may be disruptive, harmful or pose a threat to to the health and safety of the NCTC community-such as stalking, harassment, physical or emotional abuse, violent or threatening behavior, or self-harm. As a student, you have the ability to report concerning behavior which could impact your own safety or the safety of another NCTC student. Just click the NCTC CARES Team logo posted on MyNCTC, or send an e-mail to CARESTeam@nctc.edu.  As always, if you feel there is an immediate threat to your own safety or welfare (or to another student), please call 911 immediately.

ATTENDANCE POLICY

 

Students are expected to attend class 100% of the time and to be on time for class.  The ability to communicate is an important business skill.  Students who are absent from class miss the opportunity to practice this skill.  This includes both listening and speaking.

Your instructor will take attendance daily.  If a student arrives after attendance is recorded, it is the student’s responsibility to make sure that the instructor records their attendance. Attendance comprises of 10% of the overall grade.  An additional 10 bonus points will be awarded to students with 100% attendance during the semester. 2 absences are allowed for 100% attendance. These 2 absences are to take into account any illnesses, car trouble, vacations etc. that a student may have. 

Some extra credit assignments will be assigned in class and students will miss the opportunity to obtain these points if they are absent from class.   Any questions about missed assignments due to absences need to be obtained from other students who were present in class.

Absences may adversely affect your financial aid.

 

OTHER PERTINENT INFORMATION

 

• This class is a ‘Learner Centered Classroom’. Students are required to learn the material (by viewing pre-recorded lectures or read the relevant information in the textbook or LearnSmart module) before coming to class.
• Students who do not watch the videos or review the materials before coming to class will not be able to complete the in class assignments during regular class time. As a result, these students will need to set aside a considerable amount of time to be able to grasp the concepts and complete the homework by the due dates. 
• Accounting is a subject that builds. Students who do not understand chapters 1, 2 and 3 will have difficulty when the class moves to the rest of the Chapters.  Students, who do not understand a chapter, should discuss their situation with the instructor immediately after the chapter is covered.
• Students will do the assignments in class in a group setting. These assignments will only be available during class time.   The instructor will assign the students into groups of 3 to 7.
• Lone Wolf Option – Students who prefer to work on their own for in class assignments may chose this option. Each student is required to turn in their in class assignment on their own during class time.  Students have to be present in class when the in class assignments are assigned.  I will not e-mail you about what was assigned in class.  Students who pick this option need to inform the instructor BEFORE students are assigned to a team.  A student may also pick the lone wolf option after each peer evaluation period by informing the instructor via Canvas e-mail.
• Much of the learning takes place during classroom discussions. When students are not prepared they cannot contribute to the overall learning process. This affects not only the individual, but their team who counts on them, as well.
• Accounting is taught and learnt best by solving accounting problems. I expect every student to be actively engaged in solving these problems during class time.
• Attendance will be determined by the sign in sheet.
• Sixty percent (60%) of the grade for In Class Assignments will be determined by peer evaluation. The remaining forty percent (40%) will be determined by the instructor. The instructor’s grade will be based on participation, completeness of assignments and readiness for class including having paper, pencil and a calculator.  The instructor has the right to override any unfair grades assigned by peer evaluations.
• There will be graded in class assignments and ungraded in class assignments. The instructor’s participation grade will be based on overall participation in all in-class assignments.
• Mandatory Peer Evaluation Forms must be submitted by each team member by the due date. If this form is not submitted, a student will earn a zero (0) grade for all the In Class assignments.  Peer evaluations are anonymous and only the instructor will see the peer evaluation forms.  Peer evaluations must be submitted via Canvas.
• All course work is available via the Internet through NCTC’s Canvas Learning Management System.
• The course schedule is available on Canvas/Syllabus. Please scroll all the way to the bottom of the syllabus and wait for the page to refresh.
• Course materials will be posted on Canvas. It is the student’s responsibility to check the Course web-site and print out any required materials before
• Ready assignments and Homework are assigned in McGraw Hill Connect. Links are available on Canvas to access these assignments. These assignments are graded must be completed on or before on the due date. The instructor may not be available to answer questions from Friday after 2pm to 8am Monday.
• Homework may be attempted unlimited number of times and are not timed. The best score of all your attempts will be taken.
• Students may turn in 2 late Homework assignments without incurring any late penalties after the drop date (4/6/2017). Alternatively, students may choose 2 homework assignments to improve their grade. If reworking or turning in late homework, students need to e-mail the instructor to gain access to their assignments.  Chapter 11 and Chapter 12 assignments cannot be turned in late or reworked.
• Ready assignments will be due on Mondays, Wednesdays and Fridays by 8:00AM. Every class session, there will be a Ready assignment.
• All homework assignments except Chapter 12 assignments are due by 11:59pm on Monday nights. Chapter 12 assignments will be due on Sunday, May 7^th, 2017 by 11:59pm.
• The 3 unit exams will be online. If a student is unable to take the exam during the assigned time, the student needs to e-mail the instructor to set up a time to take a paper make-up exam.
• Make-up exams will be given at the discretion of the instructor with whom special arrangements must be made prior to the exam. Make up exams will only be administered during the instructor’s office hours.  Please note that there will be no make-up exam for the final exam.  All make-up exams must be taken on or before Friday, Friday, May 5th, 2017         .
• The deadline for all make-up exams, late work and extra credit assignments is before Friday, Friday, May 5th, 2017.
• Accounting is best learned by doing as many problems as possible. There are practice problems in Connect – these are not required but students are strongly encouraged to do as many questions as possible to help you grasp the concepts taught in class.  Connect also contains Power Point presentations and instructional videos if you require additional help.
• Cell phones and Laptops/Tablets can only be used during class time for accounting coursework purposes.
• Students are responsible for keeping track of their own grades. Grades for each assignment and exam will be posted in Canvas.  If you believe the grade posted is in error, please contact your instructor.
• It is the student’s responsibility to drop the class. The instructor will not drop the class for you.  You are required the fill out the required paperwork necessary to drop the class before the last drop date – Thursday, April 6th, 2017.
• The instructor reserves the right to change group assignments, group members, course assignments, grading policies, and assignment schedules at any time.
• Emails will be answered within 24 hours Monday through noon on Friday unless it’s a Holiday. After noon on Friday through Sunday, they will be answered after 8am on Monday.

 

 

Workforce Education Program Elements (SCANS Skills)

                                               

The Secretary’s Commission on Achieving Necessary Skills (SCANS) conducted extensive research and interviews and determined that “workplace know-how” consists of two elements:  foundations skills and workplace competencies.  Upon successful completion of this course in this program, students will have demonstrated the following competencies: 

 

• Foundation Skills
• Basic Skills:

 A worker must  be able to

(i) read

 (ii)write,

(iii) perform arithmetic and mathematical operation

 (iv) listen

 (v) speak effectively.

 

(b)  Thinking Skills:

        A worker must  

     (i)  use efficient learning techniques to acquire and apply new knowledge and skills

(ii) discover a rule or principle underlying the relationship between two or more objects and apply it when solving a problem..

 

• Personal Qualities:

A worker must display

 (i) responsibility,

 (ii) self-esteem,

(iii) sociability,

(iv) self-management,

(v) integrity, and

 (vi) honesty.

 

• Workplace Competencies

 

• Resources:

 A worker must  select goal-relevant activities, rank them, allocate time, and prepare and

follow schedules.

 

• Interpersonal Skills: A worker must work with others effectively to

 (i) participate as a member of a team: contribute to group effort

 (ii) teach others new skills

 (iii) exercise leadership - communicate ideas to justify position, persuade and

convince others, responsibly challenge existing procedures and policies.

 (iv) negotiate- work toward agreements involving exchange of resources, resolve

divergent interests.,

(v) work with diversity - work well with men and women from diverse backgrounds.

 

• Information: A worker must be able to

 (i) acquire and use information,

 (ii) organize and maintain information,

 (iii) interpret and communicate information and

 (iv) use computers to process information.