PRINCIPLES OF FINANCIAL ACCOUNTING ACCT 2301 COURSE MASTER SYLLABUS ACCOUNTING DEPARTMENT
Updated 8/1/2006

CIP CODE AREA: 5203015125

COURSE LEVEL: Introductory (Freshman Level)

COURSE NUMBER: ACCT 2301 (Common Course Number)

COURSE TITLE: Principles of Financial Accounting

CREDIT HOURS: 3 : Lecture Hours: 3 : Lab Hours: 1

PREREQUISITE: None:  Skills:  R

METHOD OF PRESENTATION: Three-hour lecture/discussion each week.  One hour lab each week (attendance in lab is required). .

COURSE DESCRIPTION:

This course is an introduction to financial accounting concepts and the communication of financial information to external users. It examines the accounting process, transaction analysis, asset and equity accounting, financial statement preparation and analysis, and related topics.

Principles of Financial Accounting is a 3 credit hour course. The course consists of 3 lecture hours and 1 lab hour per week (during the 16 week semester).

¿ Before enrolling in ACCT 2301, it is advisable to 1) have taken the equivalent of ACCT 1403 or BUSI 1301; 2) have recently taken high school bookkeeping; or 3) have acquired relevant work experience. Although not required, the equivalent of MATH 1324 provides a good foundation for ACCT 2301.

¿ Basic computer skills utilizing word processing, spreadsheet (Excel), and presentation (Power Point) software are recommended for all accounting courses. If you have any questions, consult with an accounting advisor.

CPA and transfer credit:

¿ To become a CPA in Texas, you must have a minimum of a bachelor’s degree that includes 150 hours of college credit, 36 hours of accounting, 3 hour ethics course and 21 hours of business; pass a uniform exam; and have experience working with a CPA.

¿ Principles of Financial Accounting generally transfers to four-year colleges and universities. The equivalent at UT is ACC 311 and at SWTSU it is ACC 2361.

¿ The next accounting course is ACCT 2302 – Principles of Managerial Accounting. A grade of C or better in ACCT 2301 is a prerequisite for ACCT 2302.

REQUIRED TEXTS/MATERIALS: (http://www.austincc.edu/accting/textbooks.php)

¿ Required: Financial Accounting Fundamentals, 7th Ed, Wild, McGraw-Hill/Irwin

¿ Required: Homework Manager Plus

SCANS COMPETENCIES: SCANS is the Secretary’s Commission on Achieving Necessary Skills.

Please go to http://www.austincc.edu/mkt/scans.htm#whatis for complete definitions and explanation of SCANS. This list summarizes the SCANS competencies addressed in this particular course.

1. Student exhibits responsibility: Exerts a high level of effort and perseverance toward goal attainment, works hard to become excellent at doing tasks by setting high standards, paying attention to details, working well and displaying a high level of concentration even when assigned an unpleasant task; and displays high standards of attendance, punctuality, enthusiasm, vitality and optimism in approaching and completing tasks. 

2. Student acquires information: Identifies need for data, obtains them from existing sources or creates them, and evaluates their relevance and accuracy. Competently performing the tasks for acquiring data and evaluating information includes posing analytical questions to determine specific information needs, selecting possible information and evaluating its appropriateness, and determining when new information must be created. 

3. Student communicates information: Selects and analyzes information and communicates the result to others using oral, written, graphic, pictorial, or multi-media methods. Competently performing the tasks of communicating and interpreting information to others includes determining information to be communicated, identifying the best methods to present information (i.e. overheads, handouts, etc.), and if necessary, converting to desired format and conveying information to others through a variety of means including oral presentation and written communication.

INSTRUCTIONAL METHODOLOGY:

See specific instructor’s syllabus.

COURSE RATIONALE:

The goals and objectives of this course prepare students for (1) completing degree requirements; (2) obtaining or improving job skills; (3) qualifying for a business or accounting job; (4) working as an entrepreneur; (5) fulfilling personal goals; and/or (6) understanding financial statements and the basic accounting process.

COURSE OBJECTIVE:

At the end of this course you will be able to “read” the financial statements of companies and understand information that is being conveyed.

COMMON COURSES LEARNING OBJECTIVES/OUTCOMES:

Please refer to http://www.austincc.edu/accting/mastersyllabi/ACCT2301learningobj.htm

ACC POLICIES

Academic Freedom Statement: Each student is strongly encouraged to participate in class. In any classroom situation that includes discussion and critical thinking, there are bound to be many differing viewpoints. These differences enhance the learning experience and create an atmosphere where students and instructors alike will be encouraged to think and learn. On sensitive and volatile topics, students may sometimes disagree not only with each other but also with the instructor. It is expected that faculty and students will respect the views of others when expressed in classroom discussions. (See Student Handbook: www.austincc.edu/handbook)

Student Discipline: Classroom behavior should support and enhance learning. Behavior that disrupts the learning process will be dealt with appropriately, which may include having the student leave class for the rest of that day. In serious cases, disruptive behavior may lead to a student being withdrawn from the class. ACC's policy on student discipline can be found in the Student Handbook: www.austincc.edu/handbook

Scholastic Dishonesty:

Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework. Electronic devices may not be used for exams unless specifically authorized by the instructor. Penalties for scholastic dishonesty will depend upon the nature of the violation and may range from lowering a grade on one assignment to an F in the course and/or expulsion from this institution.

See Student Handbook: www.austincc.edu/handbook

Students with Disabilities Statement:

Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to make their requests three weeks before the start of the semester. (See Student Handbook: www.austincc.edu/handbook)

Grade Change Policies: Click on this link to view the policy. See Student Handbook: www.austincc.edu/handbook/policies2.htm

Rule of Three: Per state law, effective spring 2006 any student taking a class for the third time or more may be charged an additional $60 per credit hour unless exempted. Click on this link for more information:

http://www.austincc.edu/admiss/ruleofthree

COURSE EVALUATION/GRADING SYSTEM:

Course Grading:

Activity	Percent
Exams and Quizzes	55%
Other Assignments	10%
Lab Activities	15%
Annual Report Project	10%
Homework and Class Activities	10%
TOTAL	100%

With the exception of the exams, no other element of grading can exceed 15%.

COURSE POLICIES:

Attendance:

Your attendance is expected at all classes. Since the exams are a reflection of the material covered in class and the assigned homework and lab problems, it is to your advantage to attend. For this semester, there are 31 classes and 15 labs scheduled.

Withdrawal:

If you wish to withdraw, it is your responsibility to do so. DO NOT ASSUME THAT THE INSTRUCTOR WILL WITHDRAW YOU. The instructor has no obligation to do so.

Incomplete:

Incomplete grades are given only on rare occasions at my discretion. Generally, to receive an Incomplete, a student must have completed all examinations and assignments to date, be passing, and have personal circumstances that prevent course completion that occur after the deadline to withdraw.

Blackboard and Homework Manager:

Blackboard site is available for this class. You will be able to log onto the Blackboard site http://acconline.austincc.edu to gain access to:

ü Course announcements

ü Syllabus

ü Class and lab material

ü Chapter Review Notes

ü Link to homework manager (where the interactive homework assignments are located)

ü Grade book

Your username for Blackboard is your ACC Student Online Services User ID. This is NOT your 7 digit ACC student ID. Your initial password is your birth date (mmddyy). If you do not know your user ID, you may retrieve it via the web by clicking the “What’s my User Name?” link, located above the user name and password boxes on the Blackboard log-in page. For more information, please see the student log-in instructions at http://itdl.austincc.edu/blackboard/stlogin.htm.

To use Blackboard, you do not have to have Internet access at home. You can work with this system in our ACC open lab or at any LRS computer.

Tutoring: Accounting tutors are available at all campuses. They have proven to be a valuable resource for students. Go to http://www.austincc.edu/accting/tutor.htm for information about tutoring availability.