Faculty Syllabus

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. 

Transferability of workforce courses varies. Students interested in transferring courses to another college should speak with their Area of Study (AoS) advisor, Department Chair, and/or Program Director.

COURSE PREREQUISITES:

·     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, 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, at TSU is ACC 2361, and at TAMU is 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. 

SCANS (Secretary’s Commission on Achieving Necessary Skills) COMPETENCIES:

Please go to http://irt.austincc.edu/ids/curriculum/scans.php for complete definitions and explanation of SCANS.  The following 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:

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 projects, 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 are to help students (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 COURSE LEARNING OBJECTIVES/OUTCOMES:

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.  The core concepts are:

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.

REQUIRED TEXT:

Horngren’s Financial and Managerial Accounting with MyAccountingLab, 7th 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 them 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 MyLab Accounting (MyLab) through my Blackboard site, where further instructions will be provided.  Do not go to the publisher website to purchase this text or join during the trial period.  You will access the eBook and MyLab in Blackboard.  To do this:

1. Log in to Blackboard and open my ACCT 2301 course
2. On the left-hand menu, click on Course Materials – F22
3. To access the eBook, click Read Now.
4. To access MyLab, click Launch Courseware.  The first time you access MAL, you will be asked to either create a Pearson MyLab account or log in with an existing account.

To recap, there are three options:

1. All Digital Access at the time of registration: E-book and MyLab.
2. Digital Access with a physical textbook: Students who participate in the program will be eligible to purchase a low-cost loose-leaf print upgrade directly through MyLab.  It will be shipped to you from Pearson for approximately $24.99, plus tax – no shipping fees will be charged. 
3. Independent purchase of textbook with MyLab: If you have purchased a used textbook or have "Opted Out" of the program, you must still purchase an access code for MyLab.

You must bring your eBook (via computer, tablet or smartphone) or paper copy of the text (if purchased) to class.

COURSE GRADING, BASIS FOR GRADING:

Exams:  There will be three exams, as listed on the Detailed Course Outline/Calendar, which will be taken in MyLab Accounting and proctored using LockDown Browser + Respondus Monitor.  Students must have a webcam and a microphone in order to take the exams.  Respondus Monitor is compatible with Windows and Mac (PCs and laptops) and iPad.  Respondus Monitor is not compatible with Chromebooks.  Information about LockDown Browser and Respondus Monitor will be provided in a separate handout (a Quick Start Guide).  Additional important information, including technical requirements needed to use LockDown Browser and Respondus Monitor can be found on Blackboard.

The exams will be a combination of multiple choice and short-answer problems.  Each exam will have a time limit and a designated, five-day testing window (noted in the Detailed Course Outline / Calendar) during which the exam must be completed.  Make-up exams should not be necessary, except in extreme circumstances, and will only be given at my discretion.  If a make-up exam is arranged for a date subsequent to the testing window the exam was administered to the class, no class curve (if given) will be added to the exam.  Only one make-up exam is allowed during the semester.

Departmental Assessments:  The Accounting Department designs assessments for use by all ACCT 2301 sections.  There will be two assessments of course concepts, one administered early in the semester and one administered at the end of the semester.  These assessments are part of the 520 points for exams and quizzes noted above in the “Grading System.”  More information will be provided to you before the assessments are scheduled.  These assessments are intended to test the overall mastery of the seven core concepts. 

Pre-homework and Homework Assignments:  Homework is a critical part of any accounting course.  Important accounting concepts cannot be fully understood until you work the problems.  Since it is worth 10.5% of the final grade, failure to complete homework will affect the final grade a student receives.

Pre-homework and homework assignments must be completed using MyLab Accounting, an on-line interactive homework system, access to which must be purchased.  The access code comes with a new book.  MyLab Accounting software will grade your homework and provide immediate feedback to you.  You can register for MyLab Accounting and access the MyLab Accounting pre-homework and homework assignments through my Blackboard site. 

Please note, pre-homework assignments are assigned prior to the lecture covering the chapter.  Pre-homework and homework assignments are due by 6:00pm on the scheduled due dates.  Late pre-homework and homework assignments will not be accepted; however, a total of 96 points from pre-homework and homework assignments is available during the semester.  This allows extra credit for students who complete all pre-homework and homework assignments.  Twelve (12) points can be missed before it affects a student’s grade. 

Class Activities and Quizzes:  Your attendance is expected at all classes, during which you will have an opportunity to participate in in-class activities, quizzes, and group problem solving.  Since the exams are a reflection of the material covered in class, the assigned homework, and the assigned lab problems, it is to your advantage to attend.  In-class activities and quizzes will be given to provide a chance to demonstrate knowledge gained through completion of homework and required reading assignments. 

Quizzes will be assigned through MyLab Accounting. Each quiz will have a time limit and there will be a testing window during which the quiz must be completed.  There is no make-up for missed in-class activities and only one make-up quiz will be granted during the semester.  It is your responsibility to make arrangements to make up a missed quiz.

Lab Activities:  Lab activities consist of graded assignments, assigned through Blackboard, and are worth a total of 81 points, which is 10.1% of your total grade.  Lab assignments are required to be completed individually; they are not assigned as group activities.  Lab assignments are required to be completed electronically (not handwritten) and are due (by email) by the date/time stated in Blackboard.  Completed labs are required to use the following naming convention when saved: Lab – Chapter # - First Name, Last Name (i.e., Lab – Chapter 1 – Danielle Stanley).  There is no make-up for missed labs; however, one late lab will be accepted during the semester.  Late labs must be turned in (or emailed) before the start of the next class period (i.e., one week after the class period that the lab is due) to be accepted.

Comprehensive Problems:  Two comprehensive problems will be assigned during the semester.  Specific instructions for each will be provided in class.  The problems are worth a combined 10% of your total grade.

**    Note 1 – The Practice Exercises included in MyLab Accounting are optional exercises.  They remain available in MyLab Accounting until the scheduled time of the test for which the questions cover.  They are offered to provide additional review in advance of the test.  No extra credit will be given for completing them.

**    Note 2 – Per the syllabus, “Homework” accounts for 84 points of the 800 total points available.  There are, however, 96 points in the above-detailed syllabus for the MyLab Accounting pre-homework and homework assignments.  This allows (12 points) extra credit for students who attempt all MyLab Accounting pre-homework and homework assignments.