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: 331	Term Code: 161S
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:	Tiffany Cabral
Campus/Office Location:	Corinth Campus
Instructor Office  Hours:	M-Th 8:00am – 9:00am
Telephone Number	214-725-5508
E-mail Address:	tcabral@nctc.edu

 

Name of Chair/Coordinator:	Cherly Furdge
Office Location:	Corinth Campus, Room 207-A
Telephone Number:	940-498-6261
E-mail Address:	cfurdge@nctc.edu (please contact by email for prompt response)

 

REQUIRED OR RECOMMENDED COURSE MATERIALS

E-book: Financial Accounting: Information for Decisions, 8e by John J. Wild with Connect Plus and Smartbook.  McGraw Hill.   All ACCT Course materials can be purchased from the NCTC Bookstore or online from the publisher. Students can opt to purchase a printed copy for an additional fee from the NCTC bookstore or online from the publisher.

 

 

COURSE REQUIREMENTS, EVALUATION METHODS AND GRADING CRITERIA

# of Graded Course Elements	Graded Course Elements	Percentage or Points Values
12	Discussion Forums	240 points - 20%
12	Homework	240 points - 20%
12	Quizzes	240 points - 20%
4	3 Unit Exams & Final Exam (Comprehensive)	480 points – 40%
	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 Summer III semester, the last day to withdraw from a course with a “W” is July 26, 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
ACCESS (Disability Support)                               Early Alert and NCTC CARES                               Financial Aid, Scholarships, and Veterans Services	The Office for Students with Disabilities (OSD) provides accommodations for students who have a documented disability.  A disability is anything that can interfere with learning, such as a learning disability, psychological challenge, physical illness or injury. Accommodations may include extra time on tests, tests in a distraction reduced environment, volunteer note taker in class, etc.   On the Corinth Campus, go to room 170 or call 940-498-6207. On the Gainesville Campus, go to room 110 in the Administration (100) Building or call 940-668-4209.  Students on the Bowie, Graham, Flower Mound, and online campuses should call 940-668-4209 to arrange for an intake appointment with OSD. 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).  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 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.   The Financial Aid Office is responsible for administering a variety of programs for students who need assistance in financing their education.  The first step for financial aid is to complete a FAFSA.  For more information, please visit your nearest Financial Aid Office.

ATTENDANCE POLICY

 

• Students are expected to login to the class a minimum of one time per week.  The ability to communicate is an important business skill.  Students who are absent from class miss the opportunity to practice this skill.
• Discussion Forums are 20% of the total grade.  10 bonus points will be awarded to students with 100% attendance during the semester. Students are considered absent if not present a minimum of one time per week.  

 

 

 

 

OTHER PERTINENT INFORMATION

 

• Some of the lectures are pre-recorded and available in Canvas. Students are required to view these lectures and read the relevant information in the chapter. 
• Students who do not watch the videos or review the materials will not be able to complete the Discussion Forums. 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 and quiz by the due dates. 
• Accounting is taught and learnt best by solving accounting problems. I expect every student to be actively engaged in solving these problems.
• Students are encouraged to work in groups outside of class to study for exams.
• Attendance will be determined by online activity.
• The instructor’s grade will be based on attendance, participation, completeness of assignments.
• All course work is available via the Internet through NCTC’s Canvas Learning Management System.
• Discussion Forums will be posted in Canvas. It is the student’s responsibility to check the Course web-site and be prepared for class.
• Homework and Quizzes are assigned in McGraw Hill Connect. Links are available in Canvas to access these assignments. These assignments are graded must be completed on or before 11:55PM on the due date. The instructor may not be available to answer questions from Friday after 3pm to 8am Monday.
• Homework may be attempted unlimited number of times. Be sure to save your attempts so that you get credit for the questions already completed.  Quizzes may be attempted 2 times and are not timed.  The best score of your 2 attempts will be taken.  Please note that even if you click on the quiz and you close it without completing the quiz, it still counts as 1 attempt.
• The Connect system will allow a student to turn in a late assignment. A 10% late penalty is given for each day after the due date.  This option will significantly drop your grade and should not be used more than once or twice during a semester.  Chapter 11 and Chapter 12 assignments cannot be turned in late.
• Make-up exams will be given at the discretion of the instructor with whom special arrangements must be made prior to the exam. Please note that there will be no make-up exam for the final exam.  All make-up exams must be taken on or before August 10, 2017.
• The deadline for all make-up exams, late work, make-up work and extra credit assignments is August 10, 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.
• Accounting is a subject that builds. Students who do not understand chapters 1 and 2 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 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 – July 26, 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. 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.