NORTH CENTRAL TEXAS COLLEGE
COURSE SYLLABUS
COURSE AND INSTRUCTOR INFORMATION
Course title: Principles of Financial Accounting
Course prefix, number, and section number: ACCT 2301 500
Semester/Year of course: Spring/2023
Semester start and end dates: 01/17/2023 to 05/13/2023
Modality (Face to face/Synchronous or Asynchronous online/Hybrid): Face to face
Class meeting location, days, and times: Flower Mound Campus Room 208, TR 9:30 am – 10:50 am
Lab meeting location, days, and times: Not Applicable
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) 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’ 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 International Financial Reporting Standards (IFRS).
Course prerequisites: None.
Required course materials: Introductory Financial Accounting for Business, 2e, Edmonds/Olds, McGraw Hill. Connect access and e-text required. Students have already paid for course materials at time of registration.
Name of instructor: Tiarra Payne
Office location: Online via Canvas (Inbox or WebEx Conference)
E-mail address: tpayne@nctc.edu
Office hours for students: Monday and Wednesday, 8:00 pm to 9:00 pm Online.
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:
Homework – 30%
Discussions/Activities/Practice Questions – 15%
Learning Outcomes – 5%
QEP – 10%
Exams – 40%
Final grade scale:
A – 90% - 100%
B – 80% - 89%
C – 70% - 79%
D – 60% - 69%
F – 0 - 59%
Late work policy: Some late work is accepted. Please see instructor’s policies for each assignment. Discussions and any extra credit cannot be turned in late.
SEE CANVAS FOR THE COMPLETE COURSE CALENDAR, DETAILED DESCRIPTION OF GRADED WORK, AND OTHER RELATED MATERIAL.
COURSE POLICIES
Academic Integrity Policy: 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”.
Please refer to the student handbook on consequences for academic dishonesty.
Attendance Policy: Regular and punctual attendance is expected of all. 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’s 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.
Non-attendance may impact your Financial Aid.
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: April 3rd, 2023
Student Learning Outcomes:
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.
Core Objectives: Not Applicable. Academic General Education Course (from ACGM but not in NCTC Core).
COLLEGE POLICIES