Fall 2020 Course Syllabus Course: ACCT-2301- Section: 71 Principles of Financial Accounting I

Instructor Information
Instructor	Tamalla Jones
E-mail	greentd1@lamarpa.edu
Phone	(409) 984-6381
Office	Location: Umphrey Industrial Technology Center - Room: 201 Hours: Virtual Office Hours By Appointment
Department	Business and Industrial Technology Chair: Sheila Guillot E-mail: guillsr@lamarpa.edu Phone: (409) 984-6381 If you have a grievance, complaint, or concern about this course that has not been resolved through discussion with the Instructor, please consult the Department Chair.
COVID 19 Information	The Lamar State College Port Arthur (LSCPA) Student Code of Conduct COVID 19 Policy requires students who have been exposed to COVID 19 or diagnosed with COVID 19 to report their condition on the COVID 19 Notification Form (available via a link on the Student Code of Conduct COVID19 webpage). This information will be provided to the Dean of Student Services. In addition, this policy requires all students to wear face coverings in compliance with the criteria included in the policy. For more information please refer to the COVID 19 link on the LSCPA website.
Course Information
Description	This course is an introduction to the fundamental concepts of financial accounting as prescribed by U.S. generally accepted accounting principles (GAAP) as applied to transactions and events that affect business organizations. Students will examine the procedures and systems to accumulate, analyze, measure, and record financial transactions. Students will use recorded financial information to prepare a balance sheet, income statement, statement of cash flows, and statement of shareholders' equity to communicate the business entity's results of operations and financial position to users of financial information who are external to the company. Students will study the nature of assets, liabilities, and owners' equity while learning to use reported financial information for purposes of making decisions about the company. Students will be exposed to International Financial Reporting Standards (IFRS).
Prerequisites	None
Learning Outcomes	Upon successful completion of this course, students will: 1. Use basic accounting terminology and the assumptions, principles, and constraints of the accounting environment. 2. Identify the difference between accrual and cash basis accounting. 3. Analyze the record business events in accordance with U.S. generally accepted accounting principles (GAAP). 4. Prepare adjusting entries and close the general ledger. 5. Prepare financial statements in an appropriate U.S. GAAP format, including the following: income statement, balance sheet, statement of cash flows, and statement of shareholder's equity. 6. Analyze and interpret financial statements using financial analysis techniques. 7. Describe the concept differences between International Financial Reporting Standards and U.S. generally accepted accounting principle.
Core Objectives
Program Student Learning Outcomes	PSLO ALPHA: Reading skills - Demonstrates comprehension of content-area reading material. Identifies all main ideas, supporting details, and vocabulary in reading material; demonstrates a full understanding of the reading. Academic PSLO 1: Critical Thinking Skills- Uses creative thinking, innovation, inquiry and analysis, evaluation and synthesis of information. Creatively identifies problem, argument, or issue (to determine extent of information needed); differentiates the facts from opinions as relates to situation; constructs possible solutions or prediction or consequences; uses logical, sound reasoning to justify conclusion. PSLO 2: Communication Skills- Demonstrates effective development, interpretation and expression of ideas through written, oral and/or visual communication. Expresses a strong thesis; organizes information with effective transitions & sequencing of ideas; uses substantial, logical & specific development of ideas; details are relevant, original, credible and correctly documented when appropriate to show an effective development and interpretation of ideas; and presents ideas in appropriate mode of expression for the task. PSLO3: Empirical and Quantitative Skills - Applies the manipulation and/or analysis of numerical data or observable facts resulting in informed conclusions. Identifies mathematical or scientific principles needed to complete task; uses mathematical or scientific principles needed to complete task; analyzes how to use the principles; and applies problem-solving skills in mathematical or scientific principles needed to complete task with correct informed conclusions. Technical PSLO 1: Demonstrates legal and ethical behavior; interpersonal and teamwork skills; and appropriate written and verbal skills; define accounting terminology; list the functions of accounting; and record transactions in the basic accounting equation. PSLO 2: Utilize application software to perform accounting tasks; maintain records and prepare and analyze reports for a business entity; explain the components of general ledger software. PSLO 3: Compute income tax liability; prepare forms; research and report on various tax issues; identify signs of occupational fraud; and explain anti-fraud prevention methods. PSLO 4: Apply accounting concepts and budgeting techniques to analyze and interpret information; interpret costs and managerial accounting systems; recognize, solve, and apply accounting transactions using GAAP (Generally Accepted Accounting Principles)
Textbooks	Textbook Purchasing Statement: A student attending Lamar State College Port Arthur is not under any obligation to purchase a textbook from the college-affiliated bookstore. The same textbook may also be available from an independent retailer, including an online retailer. College Accounting, A Practical Approach plus MyAccounting Lab with Pearson e-Text?access Card Package, 14/E, by Jeffrey Slater, 14th edition, Prentice Hall, ISBN: 9780134833187. Pocket Calculator, Pencil, loose-leaf paper.
Lecture Topics Outline	Week 1        Course Introduction Week 2        Chapter 1:    Accounting Concepts and Procedures Week 3        Chapter 2:    Debits and Credits: Analyzing and Recording Business Transactions Week 4        Chapter 3:    Beginning the Accounting Cycle Week 5        Chapter 4:    The Accounting Cycle Continued Week 6        Chapter 5:    The Accounting Cycle Completed Week 7        Chapter 6:    Banking Procedure and Control of Cash Week 8        Chapter 7:     Calculating Pay and Payroll Taxes: The Beginning of the Payroll Process Week 9        Chapter 8:    Paying, Recording, and Reporting Payroll and Payroll Taxes: The Conclusion of the Payroll Process Week 10      Chapter 9:    Sales and Cash Receipts Week 11     Chapter 10:    Purchases and Cash Payments Week 12     Chapter 11:    Preparing a Worksheet for a Merchandise Company Week 13     Chapter 12:    Completion of the Accounting Cycle for a Merchandise Company Week 14 & 15    Review Week 16 Final
Major Assignments Schedule	Week 1        Course Introduction Week 2        Chapter 1:    Accounting Concepts and Procedures Week 3        Chapter 2:    Debits and Credits: Analyzing and Recording Business Transactions Week 4        Chapter 3:    Beginning the Accounting Cycle (Monday Sept. 14, 2020 at 12:00 am Exam 1 Chapters 1-3 Available to Students) Week 5        Chapter 4:    The Accounting Cycle Continued (Monday Sept. 21, 2020 at 11:59 pm Exam 1 Chapters 1-3 Due) Week 6        Chapter 5:    The Accounting Cycle Completed Week 7        Chapter 6:    Banking Procedure and Control of Cash Week 8        Chapter 7:     Calculating Pay and Payroll Taxes: The Beginning of the Payroll Process (Monday Oct. 12, 2020 at 12:00 am Exam 2 Chapters 4-6 Available to Students) Week 9        Chapter 8:    Paying, Recording, and Reporting Payroll and Payroll Taxes: The Conclusion of the Payroll Process (Monday Oct. 19, 2020 at 11:59 pm Exam 2 Chapters 4-6 Due) Week 10      Chapter 9:    Sales and Cash Receipts Week 11     Chapter 10:    Purchases and Cash Payments Week 12     Chapter 11:    Preparing a Worksheet for a Merchandise Company (Monday Nov. 09, 2020 at 12:00 am Exam 3 Chapters 7-9 Available to Students) Week 13     Chapter 12:    Completion of the Accounting Cycle for Merchandise Company (Monday Nov. 16, 2020 at 11:59 pm Exam 3 Chapters 7-9 Due) Week 14    Review Week 15     (Monday Nov. 29, 2020 at 12:00 am Final Exam Chapters 10-12 Available to Students) Week 16 Final Exam (Monday Dec. 07, 2020 at 11:59 pm Final Exam Chapters 10-12 Due)
Final Exam Date	December 7, 2020 - 8:00 AM   Through  December 7, 2020 - 10:00 AM
Grading Scale	90 - 100=A    80 - 89=B    70 - 79=C     60 - 69=D    Below 59 = F
Determination of Final Grade	Test 65% Homework 35%
Course Policies
Instructor Policies	Students must use appropriate e-mail etiquette when corresponding with instructor; for example, complete sentences and a full subject line with your name/course name. Please allow the instructor twenty-four hours to respond to your emails. Voice mail messages should be clearly spoken identifying student?s name, course, and any return phone number.
Attendance Policy	Poor attendance is a leading reason for termination from a job in all areas of employment. With this factor in mind, the instructor monitors student attendance daily. In addition, attendance on a regular basis is necessary for proper skill development. The instructor reserves the right to drop any student missing more than two weeks of class (six MWF classes, four TR classes, two weeks with no online class or lab participation). Quizzes may be given at the beginning of the class period. Students coming in to class late will not be allowed to take quizzes already turned in. A grade of zero will be recorded for the quiz. Tardiness is not acceptable. Frequent tardiness to class will result in a meeting between the student and instructor. Continued tardiness will result in a ten-point penalty on the student's final course grade. Assignments are due at the beginning of each class; student assignments coming in late will be assessed a penalty, even if the student arrives to class late and turns in work. Students are responsible for completing all assigned homework, including reading assignments, by the required due dates and for being prepared for each class meeting. This applies even if you were absent from the previous class meeting.
Academic Honesty	Academic honesty is expected from all students, and dishonesty in any form will not be tolerated. Please consult the LSC-PA policies (Section IX, subsection A, in the Faculty Handbook) for consequences of academic dishonesty.
Facility Policies	No food or tobacco products are allowed in the classroom. Only students enrolled in the course are allowed in the classroom, except by special instructor permission. Use of electronic devices is prohibited.
Important Information
ADA Considerations	The Americans with Disabilities Act (ADA) is a federal anti-discrimination statute that provides comprehensive civil rights for persons with disabilities. Among other things, this legislation requires that all students with disabilities be guaranteed a learning environment that provides for reasonable accommodation of their disabilities. If you believe you have a disability requiring an accommodation, please contact the the Office for Disability Services Coordinator, Room 231, in the Madison Monroe Building. The phone number is (409) 984-6241.
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Other
HB 2504	This syllabus is part of LSC-PA's efforts to comply with Texas House Bill 2504.