Welcome to Principles of Accounting I - Financial - Section 008 - Fall 2024

This online syllabus is tentative and is intended to provide you the basic information about the course.  It is subject to change, and the final course syllabus will be provided on Blackboard on the 1st day of the class.

Attending the course orientation is mandatory, and please make sure to attend the course orientation on the 1st day of class. The instructor will go over everything that you need to know about the course and will address any questions students may have during the course orientation. Students will learn every aspect of the course during the course orientation, which is a critical step for a successful semester.

• This course is conducted according to the Accounting Department's Master Syllabus. 
• The instructor will provide a great deal of information about the course on the 1st day of class so that you will know exactly what to do to be prepared for the course. 

I hope that all of you are excited about taking this course, in which you will learn about a new language that explains how to record and report the business activities, and how to read and interpret financial statements about the financial health and its potential growth of an organization.

This is a valuable course that will help you build a solid foundation for your future study about the business world. I am looking forward to working with you.

I look forward to a great semester with all of you. 

May Wang

Course Section Information:

Course Number: ACCT 2301

Section Number: 019 (11606)

Class Meeting Time: This is an asynchronous course and no class meetings are required

Instructor: May Wang - Professor of Accounting, CPA

E-mail: May.Wang@austincc.edu

Contact Number: 512-801-0073

Office Hours: TBA

Course Site: http://www.austincc.edu/blackboard

About Mandatory Course Orientation

Attending the course orientation is mandatory. Students must attend the course orientation in week 1 (the specific date for the course orientation will be announced on the course site - Blackboard the day before the first day of class. This is a one-time zoom meeting for the course orientation to ensure that students learn everything about the course and the course policies, and to ensure that students will be fully prepared for the semester. Further, the course orientation will include a Q&A session that will address any questions that students may have.

If you cannot attend the course orientation, please email the instructor before the course orientation is conducted.

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 Accounting I is a 3 credit hour course.  The course consists of lectures and lab per week during an 8-week session. All the lecture materials and lab materials will be provided on Blackboard.

Course Prerequisites

Before enrolling in ACCT 2301, it is advisable to A) have taken the equivalent of ACCT 1403 or BUSI 1301; B) have recently taken high school bookkeeping; or C) 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, 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.

Principles of Accounting I - Financial generally transfers to four-year colleges and universities. The equivalent at UT is ACC 311, TSU it is ACC 2361, and TAMU ACCT 229.

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 materials

Textbook, laptop or desktop with webcam or use of external webcam, no Chrome books. Students are required to attend online lectures at the required meeting time. This course will require proctored exams and assessments. Tests and assessments will be online using Respondus Lockdown monitor. System requirements: Respondus Lockdown Monitor work with Firefox, Google Chrome, and Safari. If you have any questions, please reach out to your instructor. For MANDATORY orientation information, contact the instructor the first day of class. This section includes a fee to cover the costs of required digital materials and/or an electronic textbook, provided at a discounted rate from the ACC Bookstore. IMPORTANT! The digital materials fee will be added to your tuition and fees when you register. You may choose to opt out of this fee and receive a refund if you wish to purchase the course materials separately.  Opt-out requests must be received prior to the official reporting date for a full refund.  For more information see First Day Access.

Technical Requirements

As stated on ACC online course schedule, you must meet the course materials requirements and system requirements in order to take the course. If you are not sure about what the course “Required Materials” are, then, I strongly suggest you check the ACC course schedule (online) and carefully read the information about the course required materials. If you do not meet these requirements, you need to talk to the instructor or withdraw from the course.

Internet Connection Requirement

This course will be conducted fully online through the course site, Blackboard. The course requires students to have secure and high-speed internet access at all times in order to access the course site for the course package.

Required Textbook and the Access to My-Lab-Mastering (MLM)

Horngren’s Financial and Managerial Accounting with My-Lab-Mastering, 8th ed, Miller-Nobles, Mattison, Pearson.

• This course is part of ACC's "First Day Access” program. ACC has partnered with the bookstore and the publisher to provide you with digital course materials on the first day of class at a discounted rate of approximately $105.54 (includes tax). The cost of the course materials will be included as an additional charge when you register.
• If you do not wish to participate in the program, you may "Opt Out". If you "Opt Out" of receiving and paying for your materials via this program, you will be responsible for obtaining those on your own. Instructions for “opting out” will be available on my Blackboard site.
• If you participate in the "First Day Access" program, you will gain access to the eBook and the MLM (My-Lab-Mastering) site through Blackboard. Do not go to the publisher website to purchase this text or to join the trial period!
• Instructions for accessing the course materials - the MLM site are provided on Blackboard.

To recap, there are three options:

• All Digital Access at the time of registration: E-book and MLM (My-Lab-Mastering)
• Digital Access with a Physical Textbook: Students who participate in the “first day access” program will be eligible to purchase a low-cost loose-leaf print upgrade directly through MLM. It will be shipped directly to you from Pearson for approximately $39.99, plus tax.  No shipping fees.
• Independent purchase of textbook with MLM: If you have purchased a used textbook or have "Opted Out" of the program, you must still purchase an access code for MLM.

Instructional Methodology:

The objectives of this course will be met by incorporating a variety of instructional methods. These may include lecture, class exams and quizzes, group activities and project, student presentations, class problem-solving, written analysis, spreadsheet, word processing and power point activities, the use of accounting software and online activities and research.

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:

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. 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 Course Learning objectives/Outcomes: 

Please refer to http://www.austincc.edu/accounting/. The learning objectives/outcomes will be evaluated through the department designed mid-term and end of semester assessments. More information about the assessments are available under Course Policies. 

SCANS Competencies:  

SCANS is the Secretary’s Commission on Achieving Necessary Skills. The following list summarizes the SCANS competencies addressed in this particular course. Please go to http://irt.austincc.edu/ids/curriculum/scans.php for complete definitions and explanation of SCANS. 

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.

1. Course Work and Points Allocation

 Notice: The course work laid out above is required by the accounting department's master syllabus. 

2. Basis for Grading:

3. Course Work Descriptions:

This course is conducted according to the accounting department's master syllabus, and all the coursework is required by the master syllabus.

1) Exams: There are three exams for the course, and all exams are composed of multiple-choice questions and workout problems. All exams will be set up on the MLM site and must be completed online through Blackboard. All exams are closed-book exams and will be timed and proctored using lockdown browser & respondus monitor. Detailed information about exams, about lockdown browser & respondus monitor and the proctoring policies, and make-up policies for exams will be provided on Blackboard.

2) Quizzes: There will be 6 quizzes given during the course, and all of them are close-book quizzes. All quizzes are timed and proctored using Lockdown browser & respondus monitor. All quizzes must be completed through the MLM site on Blackboard before. Detailed information about the coverage for each quiz and the make-up policies for quizzes will be provided on Blackboard.

3) Homework Assignments: Homework assignments are a critical part of any accounting course, and important accounting concepts cannot be fully understood until you work through problems. Failure to complete homework often affects the grade a student receives. Students' performance for an exam is directly related to systematic preparation and timely completion of homework assignments. Because the course moves at a fast pace, students should make every effort to keep up with homework assignments. 

There are two parts of homework assignments for each chapter, and they are pre-class assignments and homework assignments. Both parts must be completed on the MLM site by deadlines. Students will have access to the MLM site 24/7, and the MLM site grades homework assignments and provides immediate feedback. Detailed information about homework assignments, due dates, and the make-up policies will be provided on Blackboard.

4) Lab Assignments: Attendance for lab time is required, and lab assignments are required coursework and are worth 10% of the total grade. There are 10 lab assignments over a total of 14 chapters covered by the course, and all lab assignments are set up on the MLM site. Students should consider the lab assignments as open-book quizzes and should be prepared to complete a lab assignment on time. Detailed information about the lab assignments, their due dates, and make-up policies will be provided on Blackboard.

5) Comprehensive Problems: There are two sets of comprehensive problems assigned from the selected chapters, and they are worth 7.5% of the total grades. Comprehensive problems must be completed through the MLM site. Detailed information about the comprehensive problems and due dates will be provided on Blackboard.

6) Department Assessments: The Accounting Department designs assessments (Assessment 1 and Assessment 2) for use by all ACCT 2301 sections. These assessments are part of the 520 points for proctored exams and quizzes noted in the “Grading System”. More information will be provided on Blackboard before each assessment is scheduled. These two assessments are intended to test the overall mastery of the 7 core concepts as the learning outcome for the course. Both assessments must be completed through the MLM site, they are timed and proctored using Lockdown Browser and Respondus Monitor. Detailed information about assessments, lockdown browser and proctoring policies, the make-up policies for assessments, and their testing windows will be provided on Blackboard.

7) Other Activities: A total of 40 points are allocated to “Other Activities”, which are part of the course work. “Other Activities” are assigned at the instructor’s discretion, and they intend to encourage students to actively attend the class and to participate in the class activities. Detailed information about “other activities” will be provided on Blackboard.

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Attendance/Class Participation

This is an asynchronous course, and it is fully conducted online through Blackboard. No class meeting times are required for lectures and for labs. However, the instructor will be monitoring students’ participation in the course through Blackboard and will evaluate the students’ participation in the course through various measurements, which will be communicated to students during the course orientation. The course covers a great deal of materials at a fast pace. You will need to make every effort to follow the course policies, to keep up with the course schedule, to meet deadlines for all the course work in order to complete the course. If participation or compliance with course policies is unsatisfactory, the instructor may withdraw students from the class.

In situations where classes are canceled because of weather, pandemic, or other emergencies the student is responsible for communicating with their professor during the closure and completing any assignments or other activities designated by their professor.

Withdrawal: 

It is the responsibility of each student to ensure that his or her name is removed from the roll should he or she decide to withdraw from the class. The instructor does, however, reserve the right to drop a student should he or she feel it is necessary. If a student decides to withdraw, he or she should also verify that the withdrawal is submitted before the Final Withdrawal Date. The Final Withdrawal Date for this semester is November 21, 2024. The student is also strongly encouraged to keep any paper work in case a problem arises.

Students are responsible for understanding the impact that withdrawal from a course may have on their financial aid, veterans’ benefits, and international student status.  Per state law, students enrolling for the first time in Fall 2007 or later at any public Texas college or university may not withdraw (receive a W) from more than six courses during their undergraduate college education. Some exemptions for good cause could allow a student to withdraw from a course without having it count toward this limit. Students are strongly encouraged to meet with an advisor when making decisions about course selection, course loads, and course withdrawals.

Withdrawal Notice: Check the ACC calendar to learn about the last day to withdraw from this class and receive a grade of “W”.  If you wish to withdraw, it is your responsibility to do so.  DO NOT assume that I will withdraw you. I have no obligation to do so.

Incomplete: 

“An incomplete (grade of "I") will only be given for extenuating circumstances.  What constitutes “extenuating circumstances” is left to the instructor’s discretion.  If a grade of I is given, the remaining course work must be completed by a date set by the student and professor.  This date may not be later than two weeks prior to the end of the following semester.  A grade of I also requires completion and submission of the Incomplete Grade form, to be signed by the faculty member (and student if possible) and submitted to the department chair.

Students may request an Incomplete from their faculty member if they believe circumstances warrant.  The faculty member will determine whether the Incomplete is appropriate to award or not.  The following processes must be followed when awarding a student an I grade.

1. Prior to the end of the semester in which the “I” is to be awarded, the student must meet with the instructor to determine the assignments and exams that must be completed prior to the deadline date.  This meeting can occur virtually or in person.  The instructor should complete the Report of Incomplete Grade form.
2. The faculty member will complete the form, including all requirements to complete the course and the due date, sign (by typing in name) and then email it to the student.  The student will then complete his/her section, sign (by typing in name), and return the completed form to the faculty member to complete the agreement.  A copy of the fully completed form can then be emailed by the faculty member to the student and the department chair for each grade of Incomplete that the faculty member submits at the end of the semester.  
3. The student must complete all remaining work by the date specified on the form above.  This date is determined by the instructor in collaboration with the student, but it may not be later than the final withdrawal deadline in the subsequent long semester. 
4. Students will retain access to the course Blackboard page through the subsequent semester in order to submit work and complete the course. Students will be able to log on to Blackboard and have access to the course section materials, assignments, and grades from the course and semester in which the Incomplete was awarded. 
5. When the student completes the required work by the Incomplete deadline, the instructor will submit an electronic Grade Change Form to change the student’s performance grade from an “I” to the earned grade of A, B, C, D, or F.

If an Incomplete is not resolved by the deadline, the grade automatically converts to an “F.”  Approval to carry an Incomplete for longer than the following semester or session deadline is not frequently granted.”

Blackboard: 

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

• Course announcements
• Syllabus and other course information
• Link to Course Materials (where the eBook and interactive homework assignments are located)
• Grade-book
• Virtual Classroom

Your user name for Blackboard is your ACC eID. This is your 7-digit ACC student ID, preceded by the first initial of your official first name. During the activation of your ACC eID, you will select your password. If you do not know your ACC eID, you may retrieve it via the Blackboard home page.

Please Note:

It is very important that students pay attention to the information regarding the "College Policies and Student Support Service", which is available on Blackboard, and such information will also be provided on a final course syllabus, which will be available on Blackboard. Further, the instructor will go over the college policies during the course orientation.