Fall 2021 Course Syllabus Course: ACCT-2301- Section: 71 Principles of Financial Accounting

Instructor Information
Instructor	Leanna Odom
E-mail	odomlb@lamarpa.edu
Phone	(409) 984-6129
Office	Location: Business Office - Room: 129 Hours: Office Hours: Monday - Friday 8:00 a.m. - 5:00 p.m. (virtual appointments available)
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	1.    Define accounting terminology, list the functions of accounting, and record transactions in the basic accounting equation. (PSLO 1) Measured by embedded questions in tests or quizzes as well as pretest and post-test and assessment projects. 2.    Develop and communicate the application of problem solving skills in routine and non- routine accounting transaction such as preparing income statements, balance sheets, T-accounts, trial balance, journalizing, worksheets, adjusting entries, closing entries, reconciling a bank statement, calculating gross pay, payroll taxes, and preparing Forms W-2, W-3, 941 and 940. (PSLO 1, 2, 3) Measured by embedded questions in test, quizzes, and homework as well as assessment projects. 3.    Gain a working knowledge of how revenue, expenses, and withdrawals expand the basic accounting equation. (PSLO 1, 3) Measured by embedded questions in tests, homework, and quizzes as well as assessment projects. 4. Recognize, solve, and apply accounting transactions using (GAAP) Generally Accepted Accounting Principles. (PSLO 3) Measured by embedded questions in test, quizzes, and homework as well as assessment projects.
Core Objectives	Upon successful completion of this course, the student will be able to: 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.
Program Student Learning Outcomes	1. Utilize software to perform accounting tasks (not applicable). 2. Record transactions for all types of accounting transactions applying GAAP (Generally Accepted Accounting Principles). 3. Prepare and analyze accounting reports. 4. Define accounting terminology. 5. Demonstrate ethical written and verbal skills (not applicable).
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 - Review Week 9 - Chapter 7: Calculating Pay and Payroll Taxes: The Beginning of the Payroll Process Week 10 - Chapter 8: Paying, Recording, and Reporting Payroll and Payroll Taxes: The Conclusion of the Payroll Process Week 11 - Chapter 9: Sales and Cash Receipts Week 12 - Chapter 10: Purchases and Cash Payments Week 13 - Chapter 11: Preparing a Worksheet for a Merchandise Company Week 14 - Chapter 12: Completion of the Accounting Cycle for Merchandise Company Week 15 - Review Week 16 - Review - Final Exam Due
Major Assignments Schedule	Schedule (subject to change): Week 1 - August 23, 2021 - Course Introduction. Week 2 - August 30, 2021 - Chapter 1: Accounting Concepts and Procedures –homework and quiz due by September 5, 2021. Week 3 - September 6, 2021 - Chapter 2: Debits and Credits: Analyzing and Recording Business Transactions – homework and quiz due by September 12, 2021. Week 4 - September 13, 2021 - Chapter 3: Beginning the Accounting Cycle – homework and quiz due by September 19, 2021. Week 5 – September 20, 2021 - Chapter 4: The Accounting Cycle Continued – homework and quiz due by September 26, 2021. (Monday, September 20, 2021 at 12:00 am Exam 1 Chapters 1-3 is Available to Students and closes on Monday, September 27, 2021 at 11:59 pm). Week 6 - September 27, 2021 - Chapter 5: The Accounting Cycle Completed – homework and quiz due by October 3, 2021. Week 7 – October 4, 2021 - Chapter 6: Banking Procedure and Control of Cash – homework and quiz due by October 10, 2021. Week 8 – October 11, 2021 - Review, Exam 2, and Mid-term assessment project due October 17, 2021. (Monday, October 11, 2021 at 12:00 am Exam 2 Chapters 4-6 is Available to Students and closes on Monday, October 18, 2021 at 11:59 pm). Week 9 – October 18, 2021 - Chapter 7: Calculating Pay and Payroll Taxes: The Beginning of the Payroll Process - homework and quiz due by October 24, 2021. Week 10 – October 25, 2021 - Chapter 8: Paying, Recording, and Reporting Payroll and Payroll Taxes: The Conclusion of the Payroll Process - homework and quiz due by October 31, 2021. Week 11 – November 1, 2021 - Chapter 9: Sales and Cash Receipts - homework and quiz due by November 7, 2021. Week 12 – November 8, 2021 - Chapter 10: Purchases and Cash Payments - homework and quiz due by November 14, 2021. (Monday, November 8, 2021 at 12:00 am Exam 3 Chapters 7-9 is Available to Students and closes on Monday, November 15, 2021 at 11:59 pm Exam 3). Week 13 – November 15, 2021 - Chapter 11: Preparing a Worksheet for a Merchandise Company - homework and quiz due by November 21, 2021. Week 14 - November 22, 2021 - Chapter 12: Completion of the Accounting Cycle for Merchandise Company - homework and quiz due by November 28, 2021. Week 15 - November 29, 2021 – Review. (Saturday, December 4, 2021 at 12:00 am Exam 4 Chapters 10-12 is Available to Students and closes on December 7, 2021 at 11:59 pm Exam 4). Week 16 - December 7, 2021 - Final Exam Due.
Final Exam Date	December 4, 2021 - 12:00 AM   Through  December 7, 2021 - 11:59 PM
Grading Scale	90 - 100=A    80 - 89=B    70 - 79=C     60 - 69=D    Below 59 = F
Determination of Final Grade	Weekly Discussion Posts - 5% Weekly Virtual Meetings - 5% Assignments (homework and quizzes) - 20% Assessment Project - 20% Exams - 50%
Course Policies
Instructor Policies	Discussion posts: Discussion Posts are mandatory. Weekly posts are expected. The posts represent 5% of your total grade. Virtual meetings: Virtual meetings will occur weekly. They are mandatory. Your attendance to the meeting represents 5% of your total grade. Assignments: Assignments (homework and quizzes) will be administered through Myaccountinglab. They are due weekly. No late submissions are accepted. There is a link to the Pearson website provided in Blackboard. These assignments will be graded, and it is a requirement for this course. These assignments represent 20% of your total grade. Assessment Projects: Assessment projects are designed to evaluate your practical application of the accounting principles that you have learned. No late projects will be accepted. The assessment projects represent 20% of your grade. Exams: All exams will be administered on the regularly scheduled test dates. All exams will be administered thru Blackboard by clicking on the Exam Link. Under no circumstances will an absence for any reason excuse the students from completing all exams assigned in the course. Exams usually include multiple choice, problems, and true/false questions. Some exams may consist of completing a problem at the end of the chapter. Exams are scheduled as noted on your Course Calendar. There will be no makeup exams. You will be given approximately one week to take the exam. You will have only one attempt at the exam. If you miss any exams, those exams will be given a grade of zero. Communication is a key to success. Contact me as soon as possible if you know in advance that you will be missing any exams. Exams represent 50% of your total grade. All students must take the exam on the scheduled date and time, and failure to do so will result in a “0” on the exam. Academic integrity and honesty is expected; as a result, the inappropriate use of mobile or wireless devices for online exams is prohibited. Every student MUST have access to the required textbooks by the second week of class. The student will still be responsible for any assignments given. Failure to have a text may result in being dropped from the class. A failure to follow instructions (written or oral) will result in penalties. Students should keep a record of their grades/average. Instructor(s) will not average grades for students. Instructors do not “drop” grades.
Attendance Policy	Research has shown a cause and effect relationship between attendance and college success. Poor attendance is also a major contributing factor for termination from a job in all areas of employment. With this factor in mind, the instructor monitors student attendance. In addition, attendance on a regular basis is necessary for proper skill development. Attendance and engagement are critical to establish the foundational skills necessary to be successful in college as well as on the job. Students are responsible for completing all assignments by the required due dates. Planning and preparation are keys to success. 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 decides to withdraw from the class. 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 retain their copy of the withdrawal form for their records.
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.
MyLSCPA	Be sure to check your campus E-mail and Course Homepage using MyLSCPA campus web portal (My.LamarPA.edu). When you've logged in, click the email icon in the upper right-hand corner to check email, or click on the "My Courses" tab to get to your Course Homepage. Click the link to your course and review the information presented. It is important that you check your email and Course Homepage regularly. You can also access your grades, transcripts, and determine who your academic advisor is by using MyLSCPA.
Other	E-Mail/Voice Mail Etiquette: 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.
HB 2504	This syllabus is part of LSC-PA's efforts to comply with Texas House Bill 2504.
Department	Finance and Operations 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.