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Fall 2023 Course Syllabus
Course: ACCT-2301 (Section: 1H, CRN: 90257) Principles of Financial Accounting |
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| Instructor Information | |||||||||
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| Instructor | Kellie Buckner | ||||||||
| bucknerkc@lamarpa.edu | |||||||||
| Phone | 4099846418 | ||||||||
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| Office Hours | None: By appt only | ||||||||
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| 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). | ||||||||
| Required 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 ISBN: Print - 07980137504282, 0137504284 E-text- 9780137635818, 0137635818 By Jeffrey Slater, Michael Deschamps 15th Edition Copyright 2023 with Blackboard Ultra Access |
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| Additional Materials/Resources | None | ||||||||
| Corequisites/Prerequisites | None | ||||||||
| Learning Outcomes |
Use basic accounting terminology and the assumptions, principles, and constraints of the accounting environment. Identify the difference between accrual and cash basis accounting. Analyze and record business events in accordance with U.S. generally accepted accounting principles (GAAP). Prepare adjusting entries and close the general ledger. Prepare financial statements in an appropriate U.S. GAAP format, including the following: income statement, balance sheet, statement of cash flows, and statement of shareholders’ equity. Analyze and interpret financial statements using financial analysis techniques. Describe the conceptual differences between International Financial Reporting Standards and U.S. generally accepted accounting principles. |
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| Core Objectives |
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| Lecture Topics Outline |
Chapter 1: Accounting Concepts and Procedures Chapter 2: Debits and Credits: Analyzing and Recording Business Transactions Chapter 3: Beginning the Accounting Cycle Chapter 4: The Accounting Cycle Continued/ Appendix for Chapter 4 Depreciation Chapter 5: The Accounting Cycle Completed Chapter 6: Banking Procedure and Control of Cash Chapter 7: Calculating Pay and Recording Payroll Taxes: The Beginning of the Payroll Process Chapter 8: Paying the Payroll, Depositing Payroll Taxes, and Filing the Required Quarterly and Annual Tax Forms: The Conclusion of the Payroll Process Chapter 9: Sales and Cash Receipts in a Perpetual Inventory System Chapter 10: Purchases and Cash Payments in a Perpetual Inventory System Chapter 11: Preparing a Worksheet for a Merchandise Company using the Perpetual Method Chapter 12: Completion of the Accounting Cycle for a Merchandise Company using the Perpetual Inventory Method / Appendix for Chapter 12 Accounting for Merchandise Inventory using the Periodic Method of Inventory Valuation. |
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| Major Assignments Schedule |
Week 1: Syllabus Review / Chapter 1 Accounting Concepts and Procedures Week 2: Chapter 1: Accounting Concepts and Procedures Week 3: Chapter 2: Debits and Credits: Analyzing and Recording Business Transactions Week 4: Chapter 3 Bigging the Accounting Cycle Week 5: Exam #1 Chapters 1-3 Review and Test Wednesday, September 27 Week 6: Chapter 4: The Accounting Cycle Continued/ Appendix for Chapter 4 Depreciation Week 7: Chapter 5: The Accounting Cycle Completed Week 8: Chapter 6: Banking Procedure and Control of Cash Week 9: Exam # 2 Chapters4-6 Review and Test Wednesday, October 25, 2023 Week 10: Chapters 7 & 8: Calculating Pay and Recording Payroll Taxes: The Beginning of the Payroll Process / Paying the Payroll, Depositing Payroll Taxes, and Filing the Required Quarterly and Annual Tax Forms: The Conclusion of the Payroll Process Week 11 Chapter 9: Sales and Cash Receipts in a Perpetual Inventory System Week 12: Exam #3 Chapters 7-9 Review and Test Wednesday, November 15, 2023 Week 13: Chapter 10: Purchases and Cash Payments in a Perpetual Inventory System Week 14: Chapter 11 & 12: Preparing a Worksheet for a Merchandise Company using the Perpetual Method / Completion of the Accounting Cycle for a Merchandise Company using the Perpetual Inventory Method / Appendix for Chapter 12 Accounting for Merchandise Inventory using the Periodic Method of Inventory Valuation. Week 15: Exam #4 Chapters 10-12 Review and Test Wednesday December 6, 2023 Week 16: Final Exam Chapters 1-12 Review and Test Wednesday December 13,2023 |
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| Final Exam Date | December 13, 2023 - 11:00 AM | ||||||||
| Grading Scale |
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| Determination of Final Grade |
Test - 50% Quizes- 10% Assignments 20% Final- 20% |
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| Course Policies | |||||||||
| Instructor Policies |
Weekly Homework: Blackboard Ultra 1. Read Chapter for the week. 2. Watch online lecture if not finished in class. 3. Study Key Terms 4. Work any assignments for that week. Classroom: 1. Go over homework and answer questions. 2. Quiz - if we decided to have one 3. Start lecture for next chapter, if time permits. It is student's responsibility to listen to the lectures on Blackboard for information not covered in class. Exams: All exams will be administered on testing day. If student fails to show up for the exam, student's final will take the place of grade. Exams will consist of multiple-choice questions, true or false, and word problems. All exams must be completed with-in the normal class period. Make-up or Late Homework and Quizzes: There will be NO make-up or late homework allowed. Your grade will be a zero if you fail to meet the deadline. Books: Every student must have a copy of the required textbook or E-book as soon as the bookstore has it available or 2nd week. Failure to follow instructions (written or oral) will result in penalties. Students should keep a record of their own grades and average. Instructors will not average grades for students. Dishonest/Cheating: Any student caught cheating or lending their work to another student, will result in a zero for both students. Second incidence will result in a "F" for the course. It is student's responsibility to check their email and blackboard ultra for any updates to class schedules or class work. Blackboard Issues: Any log in, passwords, or software problems needs to be resolved by the IT department. Please inform your instructor of any delays resulting for IT problems that can't be solved by class work deadlines. Cell Phones in Class: All cell phones are to be placed on silent, not vibrate. If you must take or make a call, please collect your items and leave the classroom. You will not be permitted back into class. NO texting is allowed in class. During exams, all cell phones are to be placed on silent and out of sight. Any phone within view will be taken up and will be given back to student when student finishes their test. Second incident will result in a penalty of 10 points taken off of the test. |
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| Attendance Policy | In addition, if student is late for class and the classroom is door closed, student is absent for the class. No student is to interrupt class because they are tardy, unless student has notified instructor before class and reason for tardiness is agreed acceptable by instructor. | ||||||||
| Additional Information |
TimelyCare
FREE 24/7 Virtual Care For Students Lamar State College Port Arthur students have FREE, 24/7 access to virtual care services with TimelyCare — the virtual health and well-being platform from TimelyCare, designed for college students. Students do not need insurance to access TimelyCare services. Download the app here. As part of Lamar State College Port Arthur’s partnership with TimelyCare, students have access to services in TimelyCare, including:
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| Institutional Policies | |||||||||
| MyLSCPA | Be sure to check your campus email and Course Homepage using MyLSCPA campus web portal. You can also access your grades, transcripts, academic advisors, degree progress, and other services through MyLSCPA. | ||||||||
| Academic Honesty | Academic honesty is expected from all students, and dishonesty in any form will not be tolerated. Please consult the LSCPA policies (Academic Dishonesty section in the Student Handbook) for consequences of academic dishonesty. | ||||||||
| 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. | ||||||||
| COVID 19 Information | The Lamar State College Port Arthur (LSCPA) Student Code of Conduct COVID 19 Policy requires students who have been diagnosed with COVID 19 to report their condition directly to their local health department. Students should also contact their course faculty to report their quarantine status. In addition, this policy requires all students to wear face coverings when directly exposed to COVID 19 in compliance with the criteria included in the policy. For more information please refer to the COVID 19 link on the LSCPA website. | ||||||||
| 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. | ||||||||
| HB 2504 | This syllabus is part of LSCPA's efforts to comply with Texas House Bill 2504. | ||||||||
| Mandatory Reporting of Child Abuse and Neglect | As per Texas law and LSCPA policy, all LSCPA employees, including faculty, are required to report allegations or disclosures of child abuse or neglect to the designated authorities, which may include a local or state law enforcement agency or the Texas Department of Family Protective Services. For more information about mandatory reporting requirements, see LSCPA's Policy and Procedure Manual. | ||||||||
| Title IX and Sexual Misconduct | LSCPA is committed to establishing and maintaining an environment that is free from all forms of sex discrimination, including sexual harassment, sexual violence, and other forms of sexual misconduct. All LSCPA employees, including faculty, have the responsibility to report disclosures of sexual misconduct, including sexual harassment, sexual assault (including rape and acquaintance rape), domestic violence, dating violence, relationship violence, or stalking, to LSCPA's Title IX Coordinator, whose role is to coordinate the college's response to sexual misconduct. For more information about Title IX protections, faculty reporting responsibilities, options for confidential reporting, and the resources available for support visit LSCPA's Title IX website. | ||||||||
| Clery Act Crime Reporting |
For more information about the Clery Act and crime reporting, see the Annual Security & Fire Safety Report and the Campus Security website. |
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| Grievance / Complaint / Concern | 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. | ||||||||
| Department Information |
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