NORTH CENTRAL TEXAS COLLEGE

COURSE SYLLABUS

 

COURSE AND INSTRUCTOR INFORMATION

 

Course title: Principles of Financial Accounting

 

Course prefix, number, and section number: ACCT 2301.0400

 

Semester/Year of course: Fall Semester, 2022

 

Semester start and end dates: Aug. 22-Dec. 10

 

Modality (Face to face/Synchronous or Asynchronous online/Hybrid): Face-to-Face

 

Class meeting location, days, and times: COR 312, TR 9:30-10:50 a.m.

                  

Lab meeting location, days, and times: DNA

 

Semester credit hours: 3

 

Course description: This course is an introduction to the fundamental concepts of financial accounting as prescribed by U.S. generally accepted accounting principles (GAAP) and 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' equity 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 the similarities and differences between GAAP and International Financial Reporting Standards (IFRS).

 

Course prerequisites: MATH 1314 & BCIS 1305 or equivalent are recommended. MATH 1324-Mathematics for Business and Social Sciences is co-recommended.

 

Required course materials: The text is Introductory Financial Accounting for Business, Second Edition. The authors are Edmonds & Olds. When purchasing the text, be sure you have access to McGraw-Hill Connect. Several course assignments and supplementary materials are delivered through Connect.

 

It is the responsibility of the student to have access to the text and course materials at all times during the semester.

 

So be especially sure if you intend to remain in the course to obtain access both to the text and Connect PRIOR TO THE EXPIRATION DATE.

 

Name of instructor: Richard W. Walker

 

Office location: Room 201, Corinth campus.

 

Telephone number: 214-507-4610

 

E-mail address: rwalker@nctc.edu

 

Office hours for students: 8:30 a.m.-9:30 a.m., TR in Room 201, Corinth. I also am available after class and all other times and by appointment. Feel free to text/call (214-507-4610) or email whenever you need assistance. My schedule is very busy but flexible, so feel free to text/call or email whenever you need assistance.

 

SYLLABUS CHANGE DISCLAIMER

The faculty member reserves the right to make changes to this published syllabus if it is in the best interest of the educational development of this class. Any such changes will be announced as soon as possible in person and/or writing.

 

SUMMARY OF COURSE ASSIGNMENTS

 

List of graded assignments: Students must successfully complete four homework quizzes (e.g., HW1, HW2, etc.) and four Unit Exams. Both are accessible through McGraw-Hill Connect. Students also must complete Learning Outcome Assessments (LOAs), some of which are provided in Connect, others in Canvas, and an Aspire to Be Hired exercise. Please refer to the Course Calendar for a schedule of assignments.

 

The assignments are weighted as follows:

 

                   Unit Exams                     50%

                   HW Quizzes                    30%

                   LOAs                              10%

                   Aspire to Be Hired          10%

                                                        100%

 

Final grade scale: The standard grade scale will be used in this class.

          A = 90-100           B = 80-89             C = 70-79

          D = 60-69            F = 0-59

 

Late work policy: Students may not submit late work without prior approval by the instructor. You also will need documentation. There is no such thing as extra credit.

 

SEE CANVAS FOR THE COMPLETE COURSE CALENDAR, OUTLINE, DETAILED DESCRIPTION OF GRADED WORK, AND OTHER RELATED MATERIAL.

 

 

COURSE POLICIES

 

Academic Integrity Policy: I have zero tolerance for academic dishonesty. ZERO! For NCTC requirements, please refer to your student handbook.

 

Attendance Policy: NCTC requires regular attendance.

 

Instructor’s Note: Study after study over many years confirms that the number-one predictor of student success—far more than intelligence—is attendance.

 

“80% of success is showing up.”—

Broadway composer, Richard Rodgers.

 

Other notables, such as comedian and filmmaker Woody Allen and management guru Tom Peters have added that “the remaining 20% is following up.”

 

Students also are expected to be punctual for all classes. Periodic quizzes may be taken in class to ensure students stay current with course materials.

 

Withdrawal Policy A student may withdraw from a course on or after the official date of record. It is the student’s responsibility to initiate and complete a Withdrawal Request Form.

 

Last day to withdraw from the course with a “W” is: Oct. 31. However, it is your responsibility to consult your Academic Advisor to be certain about drop deadlines and requirements.

 

Student Learning Outcomes: After successfully completing this course the student will be able to:

 

• Use basic accounting terminology and understand the principles, assumptions, and constraints of the accounting environment.
• Identify the differences between cash and accrual accounting.
• Analyze and record business transactions in accordance with Generally Accepted Accounting Principles (GAAP) in the U.S.
• Prepare adjusting entries and close the General Ledger to complete the accounting cycle.
• Prepare financial statements in accordance with GAAP, including but not limited to the Income Statement, Balance Sheet, Statement of Cash Flows, and the Statement of Stockholder’s Equity.
• Analyze and interpret financial statements using financial analysis techniques.

 

Core Objectives:

 

CORE CURRICULUM FOUNDATIONAL COMPONENT AREA (For classes in the Core)          

         Communication

         Mathematics            

         Life and Physical Science

         Language, Philosophy & Culture

         Creative Arts

         American History

 

         Government/Political Science

         Social and Behavioral Sciences

         Component Area Option

 

         Critical Thinking

         Communication

         Empirical and Quantitative

 

         Teamwork

         Personal Responsibility

         Social Responsibility

√          Academic General Education Course (from ACGM but not in NCTC Core)

         Academic NCTC Core Curriculum Course

         WECM Course

 

Students are expected to follow all rules and regulations found in the student handbook and published online.

 

OTHER PERTINENT INFORMATION

 

• Accounting courses are challenging, demanding, and move at a fast pace. They require more than the usual commitment both in time studying and solving the problems even in a longer, 16-week semester. So, as you might suspect, shorter courses can be even more demanding.

 

• All coursework is available via the Internet through NCTC’s Canvas Learning Management System. Through Canvas, many assignments are available in and completed through McGraw-Hill Connect.

 

• If a student experiences a problem/s accessing course materials in Canvas or via sending/receiving Canvas email, it is the student’s responsibility to contact the e-Learning Helpdesk by submitting a ticket: https://ecampushelpdesk.nect.edu/hc/en-us, then notifying the instructor of the problem.

 

• Students should record a screenshot of the issue/s to help IT resolve the issue/s. Also, send the screenshot to the instructor.

 

• If the problem/s occur in McGraw-Hill Connect, it is the student’s responsibility to contact McGraw-Hill’s support representatives. Be sure to save the ticket number for your records, then send the screenshot of the problem/s and the ticket number to the instructor.

 

COLLEGE POLICIES