Before enrolling in ACNT 1371, you must have completed ACCT 2301 (or its equivalent), within 2 years, with a “C” or better and completion or concurrent enrollment in ACCT 2302. If it has been more than 2 years, students have the option of enrolling in ACNT 1325, designed as a refresher and additional preparation for students who want to qualify for ACNT 1371. Students who have not completed the prerequisite courses or who cannot document completion will be withdrawn from the
class.

Basic computer skills utilizing internet, word processing, spreadsheet (Excel), and presentation (Power Point) software are recommended for all accounting courses. Generally, all assignments are to be prepared on the computer and presented in a format that would be acceptable in a business environment. Access to computers is available at the college.

Textbook: Intermediate Accounting, 11th Edition, by J. David Spiceland, James F. Sepe, Mark W. Nelson, and Wayne B. Thomas.

First Day Access ‐ You will automatically have access to the e‐text and CONNECT platform, just by registering for this course and being able to access Blackboard.

Blackboard will be set‐up by the first day of class. With ACC “First Day Access”, a digital version of the text will be purchased as part of your registration fees for the course. This fee will also include access to CONNECT. You must use CONNECT for a variety of assignments including tests, homework and labs. CONNECT is an integrated, online learning system that provides you 24/7 access to your study tools and assignments. If you acquire the eBook as part of your registration, you will have the option to buy a loose‐leaf paper version of the book for $26 through the local Austin bookstores.

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 class materials on your own. Instructions for “opting out” will be available on my Blackboard site. To recap, there are three options: 1. All Digital Access at the time of registration: E‐book and CONNECT. 2. Digital Access with a Physical Textbook: Students who participate in the program will be eligible to purchase a low‐ cost print upgrade in the ACC bookstore for approximately $40, plus tax. 3. Independent purchase of textbook with CONNECT: If you have purchased a used textbook or have "Opted Out" of the program, you must still purchase an access code for CONNECT.

This course is designed to provide an overview of the accounting information system and accounting cycle, financial statement preparation, time value of money applications and revenue recognition criteria. It also provides an introduction to research and writing for accountants.

This course is not intended to re-teach debits and credits or other fundamental concepts of financial accounting. Students needing this level of instruction should retake ACCT 2301 before enrolling in this course. Topical coverage in ACNT 1371 is intended to solidify and enrich the student’s understanding of the accounting cycle, time value of money applications, principles of financial reporting and revenue recognition. Additional areas include the theoretical accounting environment and related current issues.

COURSE RATIONALE:

The goals and objectives of this course prepare students for (1) completing degree requirements; (2) obtaining or improving job skills; (3) qualifying for a business or accounting job; (4) working as an entrepreneur; (5) fulfilling personal goals; and/or (6) understanding financial statements.

LEARNING OBJECTIVES:

Upon completion of this course, the student should be able to

• · Demonstrate proficiency in all aspects of the accounting cycle within the framework of the accounting information system
• · Analyze and apply principles of financial reporting, analysis and full disclosure
• · Apply time-value of money concepts
• · Evaluate and apply revenue recognition concepts and methods
• · Identify issues related to earnings management
• · Access and use the FASB Accounting Standards Codification site for basic research purposes
• · Identify the key elements of IFRS and its impact on US accounting standards and financial reporting.