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 Numbers: 340	Term Code: Fall 2017
Semester Credit Hours:  3	Lecture Hours: ONLINE	Lab Hours: 0
Office Hours: TR 8:00 – 9:30; 11:00 – 12:30; after 3:30                           W 2:00 – 6:30         MF: By appointment
Course Description (NCTC Catalog): This course is an introduction to the fundamental concepts of financial accounting as prescribed by U.S. generally accepted accounting principles (GAAP) as applied to transactions and events that affect business organizations. Students will examine the procedures and systems to accumulate, analyze, measure, and record financial transactions. Students will use recorded financial information to prepare a balance sheet, income statement, statement of cash flows, and statement of shareholders’ required to communicate the business entity’s results of operations and financial position to users of financial information who are external to the company. Students will study the nature of assets, liabilities, and owners’ equity while learning to use reported financial information for purposes of making decisions about the company. Students will be exposed to International Financial reporting Standards ((IFRS).
Course Prerequisite(s): Recommended prerequisite: MATH 1314 and BCIS 1305 or equivalent.
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:	Richard Merrill
Campus/Office Location:	Corinth, room # 205
Telephone Number:	940.498.6402   Cell: 214.773.6505
E-mail Address:	rmerrill@nctc.edu

 

Name of Chair/Coordinator:	Dr. Cherly Furdge
Office Location:	Corinth campus
Telephone Number:	940.498.6238
E-mail Address:	cfurdge@nctc.edu

 

REQUIRED OR RECOMMENDED COURSE MATERIALS

Required Textbook:  Financial Accounting by John J. wild, 8^th edition eBook, published by McGraw-Hill AND McGraw-Hill Connect access code: ISBN: 9781259533006.  Scantron forms for test taking, pencil, paper, and calculator. The eBook and access code can be purchased online from the publisher or from the NCTC Bookstores. Also, low cost hard copy of text is available in the NCTC bookstore.

COURSE REQUIREMENTS, EVALUATION METHODS AND GRADING CRITERIA

# of Graded Course Elements	Graded Course Elements	Percentage or Points Values
12	Homework Problems	120
12	Learn Smart Modules	60
12	Discussion Forums	60
4	Unit Exams (100 points each, drop lowest)	300
1	Final Exam (Comprehensive, required)	100
	Total Points Possible (dropping lowest unit exam)	640

 

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 accounting department will provide quality instruction in the fundamental principles of financial and managerial accounting to facilitate a student’s future academic and professional goals.

 

LEARNING OUTOCMES

 

• 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.

 

GENERAL DESCRIPTION OF SUBJECT MATTER FOR EACH LECTURE/DISCUSSION

 

Topic	General Description of Subject Matter
Financial Statements	Overview of 4 primary financial statements
Transaction Analysis	How to identify and record a transaction
Accrual Accounting & Income	Accrual concept, adjusting entries, and closing the books
Internal Control & Cash	Internal control concepts general and specific to cash
Short-term Investments & Receivables	Accounting for investments in other companies and issues re accounts receivables
Inventory & Cost of Goods Sold	Inventory cost flow assumptions (FIFO, etc.)
Plant Assets, Natural Resources & Intangibles	Depreciation, depletion and amortization of long-term assets
Long-term Investments & Time value of money	Accounting for long-term investments using the purchase, equity and consolidated methods.
Liabilities	Creation and accounting for short and long-term (bonds) liabilities
Stockholders’ Equity	Discussion of the elements of stockholders’ equity
Income Statement, Stmt of Comprehensive Income, Stmt of Stockholders’ Equity	Construction and content of the Income Statement, The Stmt of comprehensive Income, and the Stmt of Stockholders’ Equity
Statement of Cash flows	Compilation and use of information in the Statement of Cash Flows

 

Last day to Withdraw	The last day to withdraw with a “W” is November 9, 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         Tobacco Free Campus	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.  See the Student Handbook for more information.   NCTC restricts the use of all tobacco products including cigarettes, cigars, pipes and smokeless tobacco on campus property.
STUDENT SUPPORT SERVICES
Financial Aid, Scholarships, and Veterans Services	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 the Financial Aid Office on your respective campus.

 

Disability Services (OSD)           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).

http://www.nctc.edu/StudentServices/SupportServices/Disabilityservices.aspx

 

Early Alert and CARES         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 toCARESTeam@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.

 

Support Services                  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 24/7 online tutoring through Grade Results 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

 

 SCHOLASTIC INTEGRITY

Scholastic dishonesty shall include, but not be limited to cheating on a test, plagiarism, and collusion.  See Student Handbook “Student Rights & Responsibilities:  Student Conduct [FLB (LOCAL)]” #20 on page 175.

 

ATTENDANCE POLICY

 

As an online course there is no “Attendance” in the traditional sense of an offline course. Attendance is therefore not part of a student’s grade directly. However, attendance is necessary to satisfy financial aid requirements and for other purposes.  Therefore, student attendance will be measured by participation in weekly discussion forums and submission of weekly assignments.  Those students not participating on a regular basis will be deemed to not be “attending.”

 

OTHER PERTINENT INFORMATION

 

• Students are encouraged to read assigned chapters. Students should read the chapter and any related material needed to understand the concepts in the chapter.  This will help in asking questions and in clarifying difficult concepts with the instructor directly.
• This class is taught and learned best by solving accounting problems.  Every student should be actively engaged in solving these problems through completion of graded homework assignments and other non-graded practice assignments.
• The course schedule showing all homework assignments and exams is available via the Internet through NCTC’s Canvas Learning Management System.  Access Canvas from the NCTC home page at www.nctc.edu.

• Homework assignments are assigned in McGraw-Hill Connect. Due dates for Homework and Exams can also be viewed there. These assignments are graded and must be completed by the due date to receive full credit.  Late assignments will not be accepted.

• No make-up exams will be given except at the discretion of the instructor with whom special arrangements must be made prior to the exam. Without a prior arrangement for a make-up, the missed unit exam score will be the one dropped in calculating a student’s course grade.
• Students are encouraged to work in groups outside of class to solve homework problems and to study for exams. Such collaboration is NOT considered a violation of any college policy regarding ethical conduct and dishonesty.
• Students are responsible for monitoring 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 immediately.
• Students are responsible for withdrawing from class if they chose to.  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 drop date of November 9, 2017.
• The instructor reserves the right to change 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 the courses in this program, students will have demonstrated the following competencies: 

 

• Foundation Skills

 

• Basic Skills: A worker must (i) read, (ii)write, (iii) perform arithmetic and mathematical operations, (iv) listen, and (v) speak effectively.

 

• Thinking Skills: A worker must (i) think creatively, (ii) make decisions, (iii) solve problems, (iv) visualize, (v) know how to learn, and (vi) reason effectively.

 

• 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 identify, organize, plan, and allocate resources effectively.  This includes (i) time, (ii) money, (iii) material and facilities, and (iv) human resources.

 

• Interpersonal Skills: A worker must work with others effectively to (i) participate as a member of a team, (ii) teach others new skills, (iii) serve clients/customers, (iv) exercise leadership, (v) negotiate, and (vi) work with diversity.

 

• 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.

 

• Systems: A worker must understand complex interrelationships as in (i) understanding systems, (ii) monitor and correct performance, and (iii) improve and design systems.

 

• Technology: A worker must be able to work with a variety of technologies, e.g. (i) select technology, (ii) apply technology, and (iii) maintain and troubleshoot equipment.