Faculty

ACCT-2301 Principles of Accounting I - Financial

Kimberly Cameron

Credit Fall 2023

Section(s)

ACCT-2301-022 (66135)
LEC DIL ONL DIL

LAB DIL ONL DIL

Readings

For a more detailed syllabus, please review the syllabus posted in the Blackboard course. This syllabus is intended to be a brief overview of the course and is subject to change. The final syllabus will be posted in the blackboard course.

Required: Horngren’s Financial and Managerial Accounting with MyAccountingLab, 8th ed, Miller-Nobles, Mattison, Pearson.

Course Subjects

Chapter 1: Accounting and the Business Environment

Chapter 2: Recording Business Transactions

Chapter 3: The Adjusting Process

Chapter 4: Completing the Accounting Cycle

Chapter 5: Merchandising Operations

Chapter 6: Merchandise Inventory

Chapter 7: Internal Control and Cash

Chapter 8: Receivables

Chapter 9: Plant Assets, Natural Resources, and Intangibles

Chapter 11: Current Liabilities and Payroll

Chapter 12: Long-Term Liabilities

Chapter 13: Stockholders’ Equity

Chapter 14: Statement of Cash Flows

Chapter 15: Financial Statement Analysis

Course Requirements

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

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.

Course Evaluation/ Grading System

Activity	Points
Exams and Quizzes	520
Lab Activities	80
Comprehensive Problems	60
Homework	100
Other Activities	40

TOTAL	800

Basis for Grading:

Points	Grade
720-800	A
640-719	B
560-639	C
480-559	D
Below 479	F

Mid-Term and End of Semester Assessments:

There will 2 assessments of course concepts (assessment 1 and assessment 2). These 2 assessments have been designed by the Accounting Department for use by all ACCT 2301 sections.

Student Learning Outcomes/Learning Objectives

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.

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 OBJECTIVES/OUTCOMES:

Please refer to http://www.austincc.edu/accounting/

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.