ACCT 2301 0500 - PRINCIPLES OF FINANCIAL ACCOUNTING

Introduction

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 2024
Semester start and end dates: 01/16/2024 - 05/11/2024
Modality (Face to face/Synchronous or Asynchronous online/Hybrid): Face to face
Class meeting location, days, and times: Corinth Campus Room 208, TTR 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: Students have already paid for course materials at the time of
registration. Online Text: Introductory Financial Accounting for Business, 2e, Edmonds/Olds,
McGraw Hill and McGraw-Hill Connect. Connect access and e-text required.
Name of instructor: Saphron Torres
 

Office location: Flower Mound
Telephone number: E-mail & Canvas Communication Only
E-mail address: storres@nctc.edu
Office hours for students: Tuesdays 12:30pm-2:30pm in the Flower Mound campus library. All
other times are to be set by appointment via NCTC E-mail or Canvas Mail.
 
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 – 20%
Learning Outcomes and 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 extra credit cannot be turned in late.
SEE CANVAS FOR THE COMPLETE COURSE CALENDAR, COURSE POLICIES, 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”.
*THIS INCLUDES BUT IS NOT LIMITED TO THE USE OF AI ENGINES, SUCH AS GPT CHAT, IN
ORDER TO CHEAT OR PLAGERIZE.
 
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 the 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 1st, 2024.
 
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
 
STUDENT HANDBOOK
Students are expected to follow all rules and regulations found in the Student Handbook.
 
ADA STATEMENT
NCTC will adhere to all applicable federal, state and local laws, regulations and guidelines with
respect to providing reasonable accommodations to afford equal educational opportunity. It is
the student’s responsibility to contact the Office for Students with Disabilities to arrange
appropriate accommodations. See the OSD Syllabus Addendum.
 
STUDENT SERVICES
NCTC provides a multitude of services and resources to support students. See the Student
Services Syllabus Addendum for a listing of those departments and links to their sites.
 
QUESTIONS, CONCERNS, or COMPLAINTS
The student should contact the instructor to deal with any questions, concerns, or complaints
specific to the class. If the student and faculty are not able to resolve the issue, the student
may contact the chair or coordinator of the division. If the student remains unsatisfied, the
student may proceed to contact the instructional dean.
 
Name of Chair/Coordinator: Teresa Laman
Office location: Corinth Campus, Suite 170 RM 172
Telephone number: 940-498-6263
E-mail address: tlaman@nctc.edu
 
Name of Instructional Dean: Debbie Huffman
Office location: Gainesville
Telephone number: 940-668-3357
E-mail address: dhuffman@nctc.edu
 

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