Summer Sessions 2023 Course Syllabus Course: ACCT-2301 (Section: 71, CRN: 60806) Principles of Financial Accounting

Instructor Information
Instructor	Tamalla Jones
Email	greentd1@lamarpa.edu
Phone	(409) 984-6381
Office	Umphrey Industrial Technology Center - Room: 201
Office Hours	By Appointment
Additional Contact Information
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 plus MyAccounting Lab with Pearson e-Text access Card Package, 15/E, by Jeffrey Slater, 15th edition, Prentice Hall, ISBN: 9780137504206. Pocket Calculator, Pencil, loose-leaf paper.
Additional Materials/Resources	None.
Corequisites/Prerequisites	None
Learning Outcomes	Use basic accounting terminology and the assumptions, principles, and constraints of the accounting environment.  Measured by embedded questions in tests or quizzes and the assessment project. Identify the difference between accrual and cash basis accounting. Measured by embedded questions in tests or quizzes and the assessment project. Analyze and record business events in accordance with U.S. generally accepted accounting principles (GAAP).Measured by embedded questions in tests or quizzes and the assessment project. Prepare adjusting entries and close the general ledger. Measured by embedded questions in tests or quizzes and the assessment project. 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. Measured by embedded questions in tests or quizzes and the assessment project. Analyze and interpret financial statements using financial analysis techniques.  Measured by embedded questions in tests or quizzes and the assessment project. Describe the conceptual differences between International Financial Reporting Standards and U.S. generally accepted accounting principles. Measured by embedded questions in tests or quizzes.
Core Objectives	Upon successful completion of this course, the student will be able to apply: 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 it relates to situation; constructs possible solutions or prediction or consequences; uses logical, sound reasoning to justify conclusion. 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. 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 the tasks with correct informed conclusions.
Lecture Topics Outline	Week 1 Chapter 1: Accounting Concepts and Procedures Week 1 Chapter 2: Debits and Credits: Analyzing and Recording Business Transactions Week 2 Chapter 3: Beginning the Accounting Cycle Week 2 Chapter 4: The Accounting Cycle Continued Week 2 Chapter 5: The Accounting Cycle Completed Week 3 Chapter 6: Banking Procedure and Control of Cash Week 3 Chapter 7: Calculating Pay and Payroll Taxes: The Beginning of the Payroll Process Week 4 Chapter 8: Paying, Recording, and Reporting Payroll and Payroll Taxes: The Conclusion of the Payroll Process Week 4 Chapter 9: Sales and Cash Receipts Week 4 Chapter 10: Purchases and Cash Payments Week 5 Chapter 11: Preparing a Worksheet for a Merchandise Company Week 5 Chapter 12: Completion of the Accounting Cycle for a Merchandise Company Week 6 Final Exam
Major Assignments Schedule	Week 1 Course Introduction Week 1 Chapter 1: Accounting Concepts and Procedures Week 1 Chapter 2: Debits and Credits: Analyzing and Recording Business Transactions Week 2 Chapter 3: Beginning the Accounting Cycle Week 2 Chapter 4: The Accounting Cycle Continued Week 2 Chapter 5: The Accounting Cycle Completed Week 3 Chapter 6: Banking Procedure and Control of Cash Week 3 Chapter 7: Calculating Pay and Payroll Taxes: The Beginning of the Payroll Process (Monday Jun. 19, 2023 at 11:59 Homework and Exam 1 Chapters 1-5 Due) Week 4 Chapter 8: Paying, Recording, and Reporting Payroll and Payroll Taxes: The Conclusion of the Payroll Process Week 4 Chapter 9: Sales and Cash Receipts Week 4 Chapter 10: Purchases and Cash Payments Week 5 Chapter 11: Preparing a Worksheet for a Merchandise Company (Monday Jul. 03, 2023 at 11:59 pm Homework and Exam 2 Chapters 6-10 Due) Week 5 Chapter 12: Completion of the Accounting Cycle for a Merchandise Company Week 6 Final Exam (Sunday Jul. 09, 2023 at 11:59 pm Homework and Final Exam Chapters 11-12 Due)
Final Exam Date	July 10, 2023 - 8:0 AM   Through  July 10, 2023 - 10:0 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.
Additional Information
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.
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	Business and Industrial Technology Chair: Sheila Guillot Email: guillsr@lamarpa.edu Phone: (409) 984-6381