NORTH CENTRAL TEXAS COLLEGE

COURSE SYLLABUS

COURSE AND INSTRUCTOR INFORMATION

Course title: Principles of Financial Accounting

Course prefix, number, and section number: ACCT 2301-0341

Semester/Year of course: Fall, 2023

Semester start and end dates: August 28 -Dec. 10, 2023

Modality: Asynchronous online

Class meeting location, days, and times: This is an asynchronous online class.

Lab meeting location, days, and times: there is no lab with this course.

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. Several course assignments and supplementary materials are delivered through McGraw-Hill Connect. Access to all required course materials are included with registration for the course.

Name of instructor: Richard W. Walker

Office location: Corinth campus, Room 313

Telephone number: (214) 507-4610

E-mail address: rwalker@nctc.edu

Office hours for students: My office hours are 8:30-9:30 a.m. and 1-2 p.m., Monday through Thursday. All other times are by appointment or by text.

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 changes will be announced as soon as possible in person and/or writing.

SUMMARY OF COURSE ASSIGNMENTS

List of graded assignments:

Assignments are weighted as follows:

                     SmartBook homework          10%

                     Chapter quizzes                    25%

                     Unit Exams                            45%

                     Discussion Boards               10%

                     LOAs                                              5%

                     Attendance                                    5%

                                                                          100%

Final grade scale:  The standard grade scale is 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 will need documentation for approval. Extra credit is not available.

Refer to the COURSE ASSIGNMENT CALENDAR for a complete list of all assignments and the open and due dates for them. The Assignments Calendar is filed under the Syllabus tab in Course navigation.

COURSE POLICIES

Academic Integrity Policy: I have zero tolerance for academic misconduct or dishonesty. ZERO! For NCTC policy about academic misconduct, refer to the student handbook.

Attendance Policy: Attendance will be taken and measured through completion of course assignments.

Withdrawal Policy: A student may withdraw from a course on or after the official date of record (census date). 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 Nov. 6, 2023.

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.

COLLEGE POLICIES