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, 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.

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.

SCANS COMPETENCIES:

SCANS is the Secretary’s Commission on Achieving Necessary Skills. Please go to http://irt.austincc.edu/ids/curriculum/scans.php 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:

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, power point, excel, data analytics, and the use of accounting software and online activities and research.

REQUIRED TEXT: 

Horngren’s Financial and Managerial Accounting with MyAccountingLab, 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. 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 MAL (MyAccountingLab) through my Blackboard site. Do not go to the publisher website to purchase this text or to join the trial period! You will gain access to the eBook and MAL in Blackboard. To do this:

• Log in to Blackboard and open the ACCT 2301 course.
• On the left-hand menu, click on First Day Access Digital Materials
• To access the eBook, click Read Now.
• To access MAL, click Launch Courseware.

The first time you access MAL, you will either create a Pearson account or log in with an existing account.

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.

CLASS POLICIES:

Attendance/Class and Lab Participation: This class has a synchronous, in person component. Regular and punctual class attendance is expected of all students. 

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 course information, link to MyLab, gradebook, and the 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.

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 student is also strongly encouraged to keep any paperwork 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.

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, 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.
 

Exams: Exams will be proctored using LockDown Browser + Respondus Monitoring. Students must have a webcam and computer in order to take the exams. Respondus Monitor is completable with Windows and Mac (PCs and laptops), iPad. Respondus Monitor is not compatible with Chromebooks. Please contact your instructor to make other arrangements if necessary. Information about how to schedule and take exams will be provided in Blackboard. Exams will be taken in MyAccountingLab. They will be a combination of multiple choice and problems. DO NOT MISS EXAMS. If you must miss an exam, please contact me BEFORE the end of the testing window. Make-up exams will be given at my discretion.

Departmental Assessments: The Accounting Department designs assessments for use by all ACCT 2301 sections. They will also be proctored using LockDown Browser + Respondus Monitoring. More information will be provided to you before the assessments are scheduled. These assessments are intended to test the overall mastery of the 7 core concepts.

Quizzes: Quizzes will be given through MyAccountingLab. Each quiz will have a time limit and there will be a testing window during which the quiz must be completed. DO NOT MISS QUIZZES. If you must miss a quiz, please contact me BEFORE the end of the testing window. Make-up quizzes will be given at my discretion. There will be 11 quizzes, and your lowest quiz grade will be dropped.

Lab Activities: Lab consists of graded assignments administered through MyAccountingLab.

Comprehensive Problems: Specific instructions will be provided in class for the comprehensive problems.

Homework & Pre-Class Assignments: Homework is a critical part of any accounting course. Failure to complete homework often affects the grade a student receives. Homework assignments will be completed using MyAccountingLab. Homework must be submitted before the due date of the exam covering that chapter.