Center of Excellence - Business Accounting Department Department Chair - Dr. Marina Grau Program Coordinator Dr. Mesfin Genanaw Instructor Linda Flowers ACCT 2301 Principles of Financial Accounting CRN 15584 Spring 2019 Mini Term- 4 weeks 3 credit hour course / 48 hours per semester ******* Textbook information see page 4 ******* Regarding syllabus: The syllabus is subject to change. If changes occur, the instructor will advise the students using Eagle on Line as an email or discussion posting. It is the student s responsibility to check Eagle on Line for any syllabus changes. Additional course information: Course delivery method: HCC Online Term dates: December 17, 2018 January 9, 2019 Prerequisite: Meet TSI college readiness standard for Mathematics Recommended corequisite: MATH 1324 Mathematics for Business & Social Science Instructor contact information: Email: linda.flowers@hccs.edu (for use before or after semester) Email (during semester): All classes must use course Discussion Board or course Email (Inbox) Contact: Written contact required, using course Email or Discussion Board. I usually answer within 24 hours. Your performance in my class is very important to me. Contact me immediately concerning any problems that you are experiencing in this course. Please do not wait until you have received a poor grade before asking for my assistance. Course 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).
ACCT 2301 Page 2 of 12 Program/Discipline Requirements: 1. EXCEL-Students will work in EXCEL following textbook example formats, labels, and formulas 2. Internet-Students will use HCC webmail, Publisher platforms (McGraw-Hill Connect, Wily plus, etc.), the learning web, Eagle Online Canvas, and HCC LibLine (24/7 Library) Academic Discipline/CTE Program Learning Outcomes 1. Students will be able to read, listen, speak, and write proficiently in preparation for presentations with clients, accounting firms and compliance work. 2. Students will demonstrate complete understanding of the complete accounting cycle. 3. Students will be able to prepare financial statements and tax returns utilizing computerized software packages, (i.e., Turbo Tax, Peachtree, and/or Quick Books). 4. Students will be able to reconcile and verify account balances, audit for internal control, and prepare financial statements. 5. Students will be able to help managers make financial and nonfinancial decisions using internal and external information. Course Goal The primary purpose of Principles of Financial Accounting is to provide students with basic concepts and techniques of double-entry accounting and the accounting cycle. The course is designed to meet the needs of those students who are preparing for a career in accounting. Course Student Learning Outcomes (SLO) 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 and 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 shareholders equity. 6. Analyze and interpret financial statements using financial analysis techniques. 7. Describe the conceptual differences between International Financial Reporting Standards and U.S. generally accepted accounting principles
ACCT 2301 Page 3 of 12 Course Student Learning objectives based on above SLOs The student will be able to: 1. Use basic accounting terminology and the assumptions, principles, and constraints of the accounting environment. a. Illustrate external and internal users of accounting information b. Illustrate general and specific principles and assumptions of accounting c. Illustrate the materiality and cost benefit constraints of accounting benefit constraints of accounting 2. Identify the difference between accrual and cash basis accounting. a. Illustrate the matching of revenues and expenses of an accounting period b. Illustrate prepaid (deferred) expenses and unearned (deferred) revenues c. Illustrate accrued expenses, accrued revenues and cash basis accounting 3. Analyze and record business events in accordance with U.S. generally accepted accounting principles (GAAP). a. Illustrate the basic accounting equation b. Describe an account and its use in recording transactions c. Analyze debits and credits and the double entry system 4. Prepare adjusting entries and close the general ledger. a. Prepare and explain adjusting entries and adjusted trial balance b. Describe and prepare closing entries c. Prepare a post-closing trial balance 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 shareholders equity. a. Prepare Income statement b. Prepare Balance Sheet c. Prepare Statement of Retained Earnings d. Prepare statement of Cash flows 6. Analyze and interpret financial statements using financial analysis techniques. a. Describe and apply methods of horizontal analysis b. Describe and apply methods of vertical analysis c. Illustrate ratio analysis 7. Describe the conceptual differences between International Financial Reporting Standards and U.S. generally accepted accounting principles. a. Describe the Generally Accepted Accounting Principles b. Describe the responsibilities of Securities and Exchange Commission (SEC) and the Financial Accounting Standard Board (FASB) c. Describe the International Financial Reporting Standards (IFRS) and responsibilities of the International Accounting Standards Board
ACCT 2301 Page 4 of 12 Textbook and Technology (Required): Text: Financial Accounting Fundamentals w/connect, 6 th edition by John Wild. New York, N.Y.: McGraw-Hill Education, 2018. ISBN 9781260255119 Connect on-line homework system (included with text) **Enrollment into my Eagle Online account is mandatory for communication purposes. **Use of on-line Connect homework manager is mandatory. Payment for Connect is mandatory. There are 3 ways to purchase the above text & code 1) You can purchase the text & code combo directly from the publisher. Click the following URL for HCC special pricing (currently $73 + S&H). Allow time for shipping: http://shop.mheducation.com/mhshop/store/hccacc 2) You can choose the all-digital solution (ebook & code) directly from the publisher (currently $63). To do this, you must first register into Connect using my specific course URL, available the first day of class. Pay while registering or choose the courtesy trial period and then pay within the first 14 days. Note: If you already have a book, this is the cost of the Connect code. 3) You can purchase the text at any HCC bookstore. The scratch off code is usually found on the first or second page of the package. Use that code during or after you register into Connect. My best estimate of the cost is $105. To register into Connect, use the class URL available on day one of class. Choose the courtesy trial period when you register. You can input your access code when you receive your book. The class URL is located on our Eagle Online homepage. Instructional Methods: This course is a HCC Online course. You must monitor your time carefully. Although you are putting in all the work of a regular semester course, you are doing so in only 4 weeks. As an instructor, I want my students to be successful. I feel that it is my responsibility to provide you with knowledge concerning the field of accounting, modeling good teaching strategies, and organizing and monitoring the class experience that allows you to connect the information that you learn in this course to the real world of accounting. As a student wanting to learn about the field of accounting, it is your responsibility to structure your time to meet assignment due dates, read/study the textbook, submit required assignments/quizzes/exams on or before the due dates, study for the exams, regularly log into the course & participate in any on-line activities, and enjoy yourself during class. Use of Eagle Online and McGraw Hill Connect is required in this course.
ACCT 2301 Page 5 of 12 Week Due Date 1 12/17 Student Assignments & Course Calendar Chap Topic Assignments Everything listed here is graded thru Connect. Due dates are found in Connect. On-line Introductions; Read Syllabus; Familiarize yourself with Eagle; Register into Connect & Complete Bonus work 12/18 1 Accounting in Business IP: A1; P1; P2; Exercises 8, 9, 15, 16, 17 LSM; Quiz 12/19 Official Date of Record See page 7 of syllabus for more information 1 12/20 2 Accounting for Business Transactions IP: A1; C2; C4; LSM; Exercises 7, 9, 10; Quiz 2 12/23 3 Adjusting Accounts for Financial Statements 2 12/23 4 Accounting for Merchandising Operations IP: P1; P3; Exercises 1, 3, 5, 7, 8, 10 LSM; Quiz IP: P1; P2; P4; LSM; Exercises 4, 5, 7, 9; Quiz 2 12/27 5 Inventories & Cost of Sales IP: P1; LSM; Exercises 2, 3, 9a; Quiz 2 12/27 6 Cash & Internal Controls IP: P2; P3; LSM; Exercises 5, 6, 9; Problem 6-3A; Quiz 2 12/28 Exam # 1 Chapters 1 6 (on-line) Take exam @ home 3 12/30 7 Accounting for Receivables IP: P1; P2; P3; LSM; Exercises 1, 2, 3, 4, 5; Quiz 3 12/30 8 Accounting for Long-Term Assets IP: P1; P2 & LSM; Exercises 2, 3, 15, 16, 18, 19, 20; Problem 8-2a Quiz 1/3 Last day to withdraw 3 1/3 9 Accounting for Current Liabilities IP: P1; LSM; Exercises 3, 4, 5, 6, 12, 16a; Quiz 4 1/3 10 Accounting for Long-Term Liabilities IP: A1; LSM; Exercises 1, 2, 3, 10; Quiz 4 1/6 11 Corporate Reporting & Analysis IP: P1; P2; LSM; Exercises 2, 3, 4, 5, 8, 9, 18; Quiz 4 1/8 12 Reporting Cash Flows IP: C1; LSM; Exercises 4, 7, 8, 11; Quiz 4 1/9 Exam #2 Chapters 7 12 (on-line) Take exam @ home ***Homework assignment due dates are not extended.***
ACCT 2301 Page 6 of 12 Student Assignments: Assignments have been developed that will enhance your learning. To better understand a topic, you will be given assignments on key information that you will need to remember for your success in your career as an accountant. Students will be required to successfully complete the following: 1. Homework (all due at 11:59pm on designated date) Solve assigned homework questions and problems from your text using your Connect homework management system. Due dates are given within Connect assignments. If multiple attempts are offered, I use the BEST grade for assignment. Generally, each chapter s total value is 100 points, broken out as following: 10% Interactive Presentations; 20% Learn Smart; 50% Exercises & Problems; 20% Quizzes (algorithmically generated). Homework-Section 1: Solve Interactive Presentations, exercises, problems, and quizzes from text Chapters 1-6 as per assignment schedule Homework-Section 2: Solve Interactive presentations, questions, problems, quiz from text Chapters 7-12 as per assignment schedule 2. Student Assessments (all due at 11:59pm on designated date) Exam #1: (Chapters 1-6), online Exam #2: (Chapters 7-12), online Up to forty (40) multiple choice questions and/or problems will include knowledge and comprehensive questions covering accounting definitions, terminology, analysis, & problem solving. There are two sectional examinations. There are no make-up examinations. Summary of Student Assignments & Assessments 2 Exams (400 pts each) 800 points Homework Assignments using Connect (100 pts per chapter) 1,200 points Total 2,000 points
ACCT 2301 Page 7 of 12 Grading I will assign homework, conduct examinations, and keep your work in electronic format as evidences for my assessments that you can use to determine how successful you are at achieving the course learning outcomes (mastery of course content and skills) outlined in the syllabus. If you find you are not mastering the material and skills, you are encouraged to reflect on how you study and prepare for each class. I welcome a dialogue on what you discover and may be able to assist you in finding other resources to improve your performance. Grading Evidence 1. Homework (completed using Connect): Sections-1; Section-2. 2. Exams (completed using Connect): Exam-1, Exam-2. HCC Grading Scale (I round up any fraction of a point) Percentage Grade Points 90-100% = A (1781 to 2000 points) 80-89% = B (1581 to 1780 points) 70-79% = C (1381 to 1580 points) 60-69% = D (1181 to 1380 points) 0-59% = F or FX ( 0 to 1180 points) Instructor Basis for Grading Activity Points Percent 2 Exams using Connect (400 points each) 800 points 40% 12 Chapter Assignments using Connect (100 points each) 1,200 points 60% Total 2,000 points 100% Course Grade of FX Students who stop attending class and do not withdraw themselves prior to the withdrawal deadline may either be dropped by their professor for excessive absences or be assigned the final grade of FX at the end of the semester. Students who stop attending classes will receive a grade of FX, compared to an earned grade of F which is due to poor performance. Logging into an HCC online course without active participation is seen as non-attending. Students who also fail to complete a minimum of the course work may also receive an FX or may be withdrawn from the class. Please note that HCC will not disperse financial aid funding for students who have never attended class. Students who receive financial aid but fail to attend class will be reported to the Department of Education and may have to pay back their aid. A grade of FX is treated the same as a grade of F in terms of GPA, probation, suspension, and satisfactory academic progress. International students should review recent policy changes regarding FX at http://www.hccs.edu/support-services/international-students/f-1-regulations/
ACCT 2301 Page 8 of 12 Instructor Requirements As your Instructor, it is my responsibility to: Provide the grading scale and detailed grading formula explaining how student grades are to be derived Facilitate an effective learning environment through in-class and on-line activities, discussions, and lectures Inform students of policies such as attendance, withdrawal, tardiness and make up Provide the course outline and class calendar which will include a description of any special projects or assignments Correspond with individual students as needed (via email or Connect) Record assignment grades into Eagle regularly To be successful in this class, it is the student s responsibility to: On day one - Have a text or e-book, open your HCC student email account, become familiar with Eagle course by reading the syllabus & all other course materials, respond to any Discussion Board postings, reply to any course email, open your Connect account & complete any bonus assignments, start study on first assignment (Chapter 1) Log-in to Eagle daily to check the discussion board and your grade report. This is one way I count attendance. Check your HCC student email daily. (All emails should start in Eagle Inbox mail to identify the sender, but responses are in your HCC student email account.) Read and comprehend the textbook & participate in any discussions and activities Complete the required assignments and exams in the required manner. Ask for help when there is a question or problem Keep copies of all projects, emails, syllabus, and handouts Other Course Policies Late homework & other assignments: Chapter homework problems, quizzes & exams are available for a limited time with NO extension of due date allowed. Computer or network malfunctions are not considered, so have a back-up plan in place. Incompletes: The grade of I (incomplete) is conditional and at the discretion of each instructor. I do not issue Incompletes. If unable to complete course, you should withdraw. Communication: 1. All communication to me must originate through our Eagle Discussion Forum or Eagle email. The emails are delivered to my HCC email account and identify your student status and class. My responses are found in your HCC student email account. Please make a new email for each topic you start.
ACCT 2301 Page 9 of 12 2. Requests for my help with a specific assignment must be sent through Connect by clicking Ask Instructor for each problem. This allows me to view your specific algorithmic problem. My response will return to you in Connect. Please use hints or guided studies button for help prior to contacting me. Academic Honesty additional info I realize that different cultures and age groups have various interpretations of what is considered cheating. If I have concerns about a student s academic integrity, I reserve the right to meet with that student to verify the comprehension of submitted work. This may result in the grade of F in the course, OR my withdrawing you from the course. Student attendance Active participation Students are expected to log into Eagle every day to check for announcements, email, grades and/ or discussions. This is one way I take attendance. Failure to regularly log into Eagle or complete 60% of Connect assignments may lead to instructor withdrawing student for lack of academic participation. Not responding to instructor email, having a course average of 30% or less at any time after Chapter 3, or missing 3 or more successive assignments may also lead to instructor withdrawing student for lack of participation. If you haven t logged into our Eagle course before December 19, the official date of record, you are dropped from the course. If you have not set up & logged into your Connect account before December 19, you are dropped from the course. No exceptions. Classroom Behavior As your instructor and as a student in this class, it is our shared responsibility to develop and maintain a positive learning environment for everyone while on-line. I take this responsibility very seriously and will inform members of the class if their behavior makes it difficult for him/her to carry out this task. As a fellow learner, you are asked to respect the learning needs of your classmates and assist your instructor achieve this critical goal. Other Course Information: Tutoring/Lab Hours: I am available to assist you via Discussion Board, Eagle email or Connect (see Communication on previous page). On campus tutoring is usually available during the fall term. You can check on HCC student homepage or at: http://www.hccs.edu/resources-for/current-students/tutoring/
ACCT 2301 Page 10 of 12 Student Handbook The student handbook can be found on the HCC Online homepage. The handbook covers a variety of topics including: Official withdrawal guidelines; HCC 6 course drop policy; Financial Aid and Withdrawal; Repeat course fee; HCC policy statements; Americans with Disabilities Act (ADA)- Students with disabilities; Student services; Title IX Parenting and pregnancy guidelines; Campus Carry Law International Students: Please contact the International Student Office at 713-718-8520 if you have additional questions about your visa status. Information: http://www.hccs.edu/support-services/international-students/ Effective Fall 2017, F-1 international students must earn letter grades (A, B, C, D or F). A grade of FX (failing because of non-attendance) will no longer count towards the full-time enrollment requirement. FX is not considered a valid letter grade and demonstrates the student is not maintaining F-1 immigration status. Also, please note that the longstanding policy of W grades not counting toward fulltime enrollment remains in effect. F-1 students must maintain at least 12 credit hours during the fall and spring semesters (9 credit hours during the summer; if this is their first semester of attendance at HCC). International students holding an F-1 visa are limited to no more than the equivalent of one class or 3 credit hours of distance education (online class) per semester that will count towards the full-time status Student Support - Technical Support - Tutorial Services Tutorial Services http://www.hccs.edu/resources-for/current-students/tutoring/ Technical Support: http://www.hccs.edu/online/technical-support/ Student Support Services http://www.hccs.edu/support-services/ Password resets http://www.hccs.edu/resources-for/current-students/password-reset-information/
ACCT 2301 Page 11 of 12 EGLS3- Evaluation for Greater Learning Student Survey System At Houston Community College professors believe that thoughtful student feedback is necessary to improve teaching and learning. During a designated time near the end of the term, you will be asked to answer a short online survey of research-based questions related to instruction. The anonymous results of the survey will be made available to your professors and department chairs for continual improvement of instruction. Look for the survey as part of the Houston Community College Student System online near the end of the term. On Line Class-Additional Information: On-Line Orientation: MANDATORY FOR HCC On Line Classes Complete your on-line orientation http://www.hccs.edu/online/ Click Student Support, then locate the link for Orientation. If you are having problems assessing the class, contact a HCC On Line support technician at 713-718-5275. You also may visit the HCC Support Center at http://www.hccs.edu/online/ Student Handbook: The HCC On Line Student Handbook contains policies and procedures unique to the On-Line student. Students should have reviewed the handbook as part of the mandatory orientation. It is the student's responsibility to be familiar with the handbook's contents. The handbook contains valuable information, answers, and resources, such as On Line contacts, policies and procedures (how to drop, attendance requirements, etc.), student services (ADA, financial aid, degree planning, etc.), course information, testing procedures, technical support, and academic calendars. Refer to the On-Line Student Handbook by visiting this link: http://www.hccs.edu/online/ HCC On Line for advising, counseling, social networking, Facebook, Twitter, library sources: http://www.hccs.edu/online/
ACCT 2301 Page 12 of 12 Virtual Classroom Conduct: As with on-campus classes, all students in HCC On Line Education courses are required to follow all HCC Policies & Procedures, the Student Code of Conduct, the Student Handbook, and relevant sections of the Texas Education Code when interacting and communicating in a virtual classroom with faculty and fellow students. Students who violate these policies and guidelines will be subject to disciplinary action that could include denial of access to course-related email, discussion groups, and chat rooms or being removed from the class. As your instructor and as a student in this class, it is our shared responsibility to develop and maintain a positive learning environment for everyone. Your instructor takes this responsibility very seriously and will inform members of the class if their behavior makes it difficult for him/her to carry out this task. As a fellow learner, you are asked to respect the learning needs of your classmates and assist your instructor to achieve this critical goal. Inappropriate behavior also includes emails that the language of the email is considered by the instructor as not being conducive to a positive environment. Your instructor will advise you if the email is inappropriate and ask for you to refrain from future inappropriate emails. The instructor has the right to refer all actions deemed inappropriate to Administration for further action