Spring 2019 Course Syllabus
Course: ACCT-2301- Section: 01
Principles of Financial Accounting I
|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).|
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
7. Describe the concept differences between International
Financial Reporting Standards and U.S. generally accepted
|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.
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.
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||College Accounting, A Practical Approach plus MyAccounting Lab with Pearson e-Text—access Card Package, 13/E, by Jeffrey Slater, 13th edition, Prentice Hall, ISBN: 978-0-13-4077307.|
Week 1 Course Introduction, Syllabus Test, and Course Pretest
Week 2 Chapter 1: Exercises Set A; Problems Set A
Week 3 Chapter 2: Exercises Set A; Problems Set A
Week 4 Chapter 3: Exercises Set A; Problems Set A
Feb. 7, 2018 Test 1 Chapters 1-2
Week 5 Chapter 4: Exercises Set A; Problems Set A
Week 6 Chapter 5: Exercises Set A; Problems Set A
Week 7 Chapter 6: Exercises Set A; Problems Set A
Feb. 28, 2018 Test 2 Chapters 3-5
Week 8 Chapter 7: Exercises Set A; Problems Set A
Week 9 Spring Break
Week 10 Chapter 8: Exercises Set A; Problems Set A
Week 11 Chapter 9: Exercises Set A; Problems Set A
Mar. 28, 2018 Test 3 Chapters 6-8
Week 12 Chapter 10: Exercises Set A; Problems Set A
Week 13 Chapter 11: Exercises Set A; Problems Set A
Week 14 Chapter 12: Exercises Set A; Problems Set A
Apr. 18, 2018 Test 4 Chapters 9-10
Week 14 Chapter 12: Exercises Set A; Problems Set A
Week 15 - 16 Final May 4, 2018 8-10:30 Chapters 11-12
|Final Exam Date||May 10, 2019 - 8:00 AM Through May 10, 2019 - 10:30 AM|
|Grading Scale||90 - 100=A 80 - 89=B 70 - 79=C 60 - 69=D Below 59 = F|
Quizzes & Homework 15%
Final Exam 25%
|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.|
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.|
|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.|
|MyLamarPA||Be sure to check your campus E-mail and Course Homepage using MyLamarPA 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 MyLamarPA.|
|HB 2504||This syllabus is part of LSC-PA's efforts to comply with Texas House Bill 2504.|