Faculty Syllabus

COURSE DESCRIPTION: 

This course involves the critical analysis of generally accepted accounting principles, concepts, and theory underlying the preparation of financial statements. Emphasis is placed on current theory and practice. It is an intense study of accounting standards and principles used by accounting professionals for disclosing accounting information related to enterprise assets. It examines professional accounting pronouncements for measuring, recording, and reporting of asset values. Generally, this course is not transferable to another college. However, it is approved by the Texas State Board of Public Accountancy as qualifying credits for the CPA exam. See additional information below under the CPA Candidates heading.

COURSE RATIONALE

This course qualifies as one of the required upper-level accounting courses by the Texas State Board of Public Accountancy (TSBPA). It is the prerequisite for ACNT 2304, Intermediate Accounting II, as well as other upper-level accounting courses.

STUDENT LEARNING OUTCOMES

Upon successful completion of this course, students are expected to gain a sound understanding of generally accepted accounting principles governing the recognition and measurement of assets and liabilities in financial statements used by parties external to the business enterprise. Outcomes include: 

• Demonstrate understanding of concepts underlying the accounting for major asset groups and liabilities
• Analyze accounting problems and apply appropriate accounting procedures for major asset groups and liabilities
• Use Codification to answer basic research questions
• Communicate accounting information clearly, concisely and accurately
• Identify significant differences between U.S. and international accounting standards for major asset groups and liabilities

REQUIRED COURSE MATERIALS:

This course is part of an inclusive access model called First Day™. You can easily access the required materials for the course at a discounted price, and benefit from single sign-on access with no codes required in Blackboard.  Austin Community College has included the discounted price as a part of a course charge for this course.

It is NOT recommended that you Opt-Out, as these materials are required to complete the course. 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 austincc.edu/firstday.

We will use:

• Intermediate Accounting with Connect, 11th edition, Spiceland, Sepe, Nelson, Thomas, McGraw-Hill Education. ISBN 9781266309496. This text will be used for Intermediate Accounting II (2304), also.

CLASS POLICIES:

Blackboard:  Everything about the course will be available only through Blackboard http://acconline.austincc.edu.

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.

Attendance/Class participation:  This is an asynchronous class. You are credited for attendance based on completion of assignments. If you don’t complete any assignments, you are deemed as never attending the class.  

Withdrawal Policy: 

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 withdraw a student should I feel it is necessary when a student misses a test. If a student decides to withdraw, he or she should also verify that the withdrawal is submitted before the final withdrawal date. 

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.