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NORTH CENTRAL TEXAS COLLEGE
COURSE SYLLABUS
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Course Title:
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Principles of Financial Accounting
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Course Prefix & Number:
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ACCT 2301
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Section Number:
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341
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Semester/Year:
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FA/2017
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Semester Credit Hours:
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3
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Lecture Hours:
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48
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Lab Hours:
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0
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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.
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Course Prerequisite(s): Recommended prerequisite: MATH1314 and BCIS1305 or equivalent.
Recommended co-requisite: MATH 1324 – Mathematics for Business & Social Sciences Recommended prerequisite: MATH1314 and BCIS1305 or equivalent.
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Required or Recommended Course Materials:
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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.
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INSTRUCTOR INFORMATION
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Name of Instructor:
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Darrell Smith
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Campus/Office Location:
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Corinth Campus, Room 200
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Telephone Number:
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Please use email
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E-mail Address:
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ddsmith@nctc.edu
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OFFICE HOURS
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Monday
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Tuesday
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Wednesday
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Thursday
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Friday
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4:00 PM – 6 PM online conference
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STUDENT LEARNING OUTCOMES (From Academic Course Guide Manual/Workforce Education Course Manual/NCTC Catalog
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At the successful completion of this course the student will be able to:
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Use of basic accounting terminology and the assumption, principles, and constraints of the accounting environment.
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Identify the differences between accrual and cash basis accounting
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Analyze and record business events in accordance with U.S. generally accepted accounting principles (GAAP).
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Prepare adjusting entries and close the general ledger
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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
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Analyze and interpret financial statements using financial analysis techniques
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Describe the conceptual differences between international Financial Reporting Standards and U.S. generally accepted accounting principles.
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Grading Policy
Letter grades for this course will be assigned in accordance with NCTC standard grading policy.
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A
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90% - 100%
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D
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60% - 69%
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B
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80% - 89%
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F
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0 – 59%
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C
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70% - 79%
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GRADING CRITERIA
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# of Graded Course Elements
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Graded Course Elements
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Percentage or Point Values
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12
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Weekly Discussion
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180 points
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12
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Chapter Homework
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120 points
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12
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Chapter Quizzes
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180 points
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5
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Chapter problems (as assigned)
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100 points
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4
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3 unit exams & final exam
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480 points
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Total Points Possible
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1060 points
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COURSE SUBJECT OUTLINE (Major Assignments, Due Dates, and Grading Criteria)
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W
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Assignments
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Dates
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1
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Introduction & chapter 1: Introducing Financial Statements
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8/28 - 9/3
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2
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Chapter 2: Financial Statements & Accounting System
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9/4- 9/10
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3
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Chapter 2 Continued, Chapter 3: Adjusting Accounts of Financial Statements
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9/11 - 9/17
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4
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Chapter 3: Adjusting Accounts of Financial Statements
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9/18 - 9/24
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5
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Exam 1, Chapter 4: Reporting & Analyzing Merchandising
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9/25 - 10/1
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6
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Chapter 5: Reporting & Analyzing Inventories
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10/2 - 10/8
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7
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Chapter 6: Reporting & Analyzing Cash, Fraud & internal controls
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10/9 - 10/15
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8
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Chapter 7: Reporting & Analyzing Receivables
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10/16 - 10/22
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9
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Chapter 8: Reporting & Analyzing Long Term Assets
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10/23 - 10/29
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10
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Exam 2, Chapter 9: Reporting & Analyzing Current Liabilities
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10/30 - 11/5
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11
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Chapter 9: Reporting & Analyzing Current Liabilities
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11/6 - 11/12
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12
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Chapter 10: Reporting Long Term Liabilities
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11/13 - 11/19
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13
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Chapter 11: Reporting & Analyzing Equity
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11/20 - 11/26
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14
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Chapter 12: Reporting & Analyzing Cash Flows
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11/27 - 12/3
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15
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Chapter 13: Analyzing & Intrepreting Financial Statements
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12/4 - 12/10
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16
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Final
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12/11 - 12/14
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ATTENDANCE POLICY
Regular and punctual attendance is expected of all students in all classes for which they have registered. All absences are considered to be unauthorized unless the student is absent due to illness or emergencies as determined by the instructor. It is the student responsibility to provide documentation as to the emergency for approval and judgement by the faculty member. Approved college sponsored activities are the only absences for which a student should not be held liable and only when provided by a college official ahead of the absence. Valid reasons for absence, however, do not relieve the student of the responsibility for making up required work. Students will not be allowed to make up an examination missed due to absence unless they have reasons acceptable to the instructor. A student who is compelled to be absent when a test is given should petition the instructor, in advance if possible, for permission to postpone the exam. Student will be dropped from a class by the Registrar upon recommendation of the instructor who feels the student has been justifiably absent or tardy a sufficient number of times to preclude meeting the course’s objectives. Persistent, unjustified absences from classes or laboratories will be considered sufficient cause for College officials to drop a student from the rolls of the College.
In an online environment, course work will constitute attendance. These assignments include (but are not limited to): homework, quizzes, discussions and exams. The weekly discussion question is particularly used to ensure attendance. The initial response to the weekly topic should be posted by Wednesday of the week due and a response to a peer posted by Sunday of the week due.
Last day to withdraw from a course with a “W” is November 9th, 2017.
DISABILITY SERVICES (Office for Students with Disabilities)
The Office for Students with Disabilities (OSD) provides support services for students with disabilities, students enrolled in technical areas of study, and students who are classified as special populations (i.e. single parents).
Support services for students with disabilities might include appropriate and reasonable accommodations, or they may be in the form of personal counseling, academic counseling, career counseling, etc. Furthermore, OSD Counselors work with students to encourage self-advocacy and promote empowerment. The Counselors also provides resource information, disability-related information, and adaptive technology for students who qualify.
If you feel you have needs for services that the institution provides, please reach out to either Wayne Smith (940) 498-6207 or Yvonne Sandman (940) 668-4321. Alternative students may stop by Room 170 in Corinth or Room 110 in Gainesville.
Other Pertinent Information
- Accounting is taught and learned best by solving accounting problems. I expect every student to be actively engaged in solving these problems.
- Homework and Quizzes are assigned in McGraw Hill Connect. Links are available in Canvas to access these assignments. These assignments are graded and must be completed on or before 11:59PM on the due date.
- 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. 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, December 14th, 2017.
- The deadline for all make-up exams, late work, make-up work and extra credit assignments is Friday, December 14th, 2017.
- 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. 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 – Thursday, November 9th, 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.
CORE CURRICULUM FOUNDATIONAL COMPONENT AREA (For classes in the Core)________
o Communication
o Mathematics
o Life and Physical Science
o Language, Philosophy & Culture
o Creative Arts
o American History
o Government/Political Science
o Social and Behavioral Sciences
o Component Area Option
REQUIRED CORE OBJECTIVES (For classes in the Core)
o Critical Thinking
o Communication
o Empirical and Quantitative
o Teamwork
o Personal Responsibility
o Social Responsibility
COURSE TYPE
X Academic General Education Course (from ACGM but not in NCTC Core)
o Academic NCTC Core Curriculum Course
o WECM Course
STUDENT HANDBOOK
Students are expected to follow all rules and regulations found in the student handbook and published online.
ACADEMIC DISHONESTY
Scholastic dishonesty shall include, but is not limited to cheating, plagiarism, academic falsification, intellectual property dishonesty, academic dishonesty facilitation and collusion. Faculty members may document and bring charges against a student who is engaged in or is suspected to be engaged in academic dishonesty. See Student Handbook, “Student Rights & Responsibilities: Student Conduct”.
QUESTIONS, CONCERNS, or COMPLAINTS
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Name of Chair/Coordinator:
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Dr. Cherly Furdge
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Office Location:
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Corinth Campus
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Telephone Number:
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940-498-6238
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E-mail Address:
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cfurdge@nctc.edu
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Name of Instructional Dean:
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Debbie Huffman
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Office Location:
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Gainesville Campus
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Telephone Number:
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940-668-3357
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E-mail Address:
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dhuffman@nctc.edu
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