PRINCIPLES
OF ACCOUNTING I - FINANCIAL
ACCT 2301
COURSE
MASTER SYLLABUS
COURSE NUMBER:
ACCT 2301 (Common Course Number)
COURSE TITLE: Principles
of Accounting I - Financial
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).
1.
Before enrolling in ACCT 2301, it is
advisable to have 1) taken the equivalent of ACCT 1403 or BUSI 1301; 2) completed
high school bookkeeping; or 3) acquired relevant work experience. Although not required, the equivalent of MATH
1324 provides a good foundation for ACCT 2301.
2.
Basic computer skills utilizing word
processing (Word), 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:
1.
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, an approved 3 hour accounting ethics course and
24 hours of business. Passage of the uniform CPA exam and appropriate
supervision by a CPA are also required.
2.
Principles of Accounting I -
Financial generally transfers to four-year colleges and universities. The equivalent at UT is ACC 311 and at TSU
it is ACC 2361.
The second accounting course required for business majors is
ACCT 2302 – Principles of Accounting II - Managerial. A grade of C or better in ACCT 2301 is a
prerequisite for ACCT 2302.
REQUIRED TEXTS/MATERIALS:
Corporate Financial
Accounting[TLN1] (10th ed), Warren/Reeve/Duchac, Cengage, ISBN 0538761547
A custom package of the text and Cengage
Now (the interactive homework access), designed for ACC specifically, is
available through the local AUSTIN AREA bookstores or directly through the ACC
bookstore or Cengage website. If the text is acquired separately, each student
must still purchase access to Cengage Now.
SCANS COMPETENCIES: SCANS is the Secretary’s Commission on
Achieving Necessary Skills.
Go to http://www.austincc.edu/accting/Scans.php
for
complete definitions and explanation of SCANS.
This list summarizes the SCANS
competencies addressed in this particular course.
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.
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.
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:
For additional information, refer to the course syllabus of the
specific instructor.
OFFICE HOURS: For specific times and locations, refer to the course syllabus
of the specific instructor.
COURSE RATIONALE:
The goals and objectives of this course prepare students to
(1) complete degree requirements; (2) obtain or improve job skills; (3) qualify
for a business or accounting job; (4) become an entrepreneur; (5) fulfill
personal goals; and/or (6) understand financial statements and the basic
accounting process.
COURSE OBJECTIVE:
Upon completion of this course, the student 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/acct2301objectives.doc [TLN2]
ACC POLICIES
Academic Freedom Statement: It is
expected that faculty and students will respect the views of others when
expressed in classroom discussions.
Student Discipline:
ACC's policy on student discipline
can be found in the Student 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 page 31 of the
Student 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 (OSD) 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. For more information
contact OSD.
Grade
Change Policies:
www.austincc.edu/handbook/policies2.php
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/handbook/acaguide2.php#dropping
COURSE EVALUATION/GRADING SYSTEM:
Mandatory Course
Grading:
|
Activity |
Percent |
|
Exams and Proctored Quizzes |
65% |
|
Lab Activities |
10% |
|
Comprehensive Problem |
10% |
|
Homework and Other Assignments |
15% |
|
TOTAL |
100% |
COURSE POLICIES:
Attendance:
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 the
student’s advantage to attend.
Withdrawal:
If you wish to withdraw, it is your responsibility to do so.
DO NOT ASSUME THAT THE INSTRUCTOR WILL WITHDRAW YOU from the class. The instructor has no obligation to do so.
See the section syllabus for the withdrawal policy of the
instructor.
Incomplete:
Incomplete grades are given only on rare occasions at the
instructor’s discretion. Generally, to
receive an Incomplete, a student must have completed all examinations and
assignments to date, with a satisfactory grade of C or better, and have
personal circumstances that prevent course completion that occur after the deadline to withdraw.
Labs:
Attendance in the labs is mandatory.
End of Semester Assessment:
The final exam will include 14 multiple choice questions,
chosen on a course-wide basis, and intended to assess the overall mastery of
the following 7 core concepts:
1.
Prepare a multiple-step income
statement, classified balance sheet and statement of earnings.
2.
Analyze and record the effects of
common business transactions.
3.
Prepare adjusting entries.
4.
Describe the role of closing
entries.
5.
Apply elements of the conceptual
framework to accounting issues.
6.
Explain the components of the
statement of cash flows.
7.
Understand the relationship between
financial components.
Blackboard:
Blackboard site is available for this class. Students may log onto the Blackboard site at http://acconline.austincc.edu to gain access to:
ü Course announcements
ü Syllabus
ü Grade book
ü Link to CengageNow (the interactive homework site)
To use Blackboard, a student does not have to have Internet
access at home. Accounting students can
work with this system in the 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.
Last updated: 6/30/09