Accounting 1 syllabus

FINANCIAL ACCOUNTING  Course Number: ACC150 Course Title: Financial Accounting Credits: 3 Pre-requisites: None Semester: Fall 2009 Faculty: Eoin Baxter Office Hours: by appointment E-mail: eoin.baxter@telefonica.net Class Time: Tuesday /Thursday: 13:00-14:35 Course Description: This course is a presentation of accounting as the language of business and as an essential part of the decision-making process for the business manager, and the investor based on generally accepted accounting principles. It essentially provides understanding of the preparation, uses and limitations of financial statements. Furthermore, this course introduces the methods of valuation of inventories and estimation of depreciation. Course Objectives: At the completion of this course, the student should be able to: Gain a thorough understanding of the principles underlying the preparation Use and interpretation of financial statements Specific course objectives correspond to the “Learning Objectives” found at the beginning of each chapter in the text. Required Reading: Wild, J. (2007) Funadamental Accounting Principles. Boston et al.: McGraw-Hill. Teaching/Learning Strategies: As reflected in the objectives, this course is to be a student-oriented course. It requires active learning, which means that the student must take responsibility for the learning that takes place. This is not intended to be a knowledge transfer process; it is intended to be a shared learning experience. At each class session the students and instructor will discuss assigned cases, exercises, and problems. Therefore, each student must study and think about all homework assignments and be prepared to participate actively and intelligently in class discussions. Evaluation Methods: Approximate dates of chapter coverage, chapter quizzes and exams will be given in class. Your class grade will be determined as follow: Class quizzes (1% each) 20% Participation and Motivation 10% Project 8% Peachtree Assignments 12% Class Exam 1 10% Midterm Exam 10% Class Exam 2 10% Final Exam 20% Total/Final Grade 100% Peachtree Assignments will be taught in Accounting lab, once a week after class. This course is voluntary, but it is highly recommended as the Peachtree assignments contribute 12% of the final grade. Grading Policy: Percentage and Grade 93-100 A 70-74 C+ 89-92 A- 65-69 C 86-88 B+ 55-64 D 80-85 B 54 or less F 75-79 B- TOPICAL OUTLINE This syllabus is subject to change! Session Topic Reading/assignment September 22 Introduction to Accounting Chapter 1 24 Transaction analysis and Financial Reports Chapter 1 29 Transaction analysis and Financial Reports Chapter 1 October 1 Transaction analysis and Financial Reports Chapter 1 6 Class exam 8 Accounting Cycle. Journals Chapter 2 13 Ledgers Chapter 2 15 Trial Balance Chapter 2 20 Journals, Ledger, Trial Balance Practice Question Chapter 2 22 Mid-Term exam 27 Accounting Adjustments Chapter 3 29 Accounting Adjustments Chapter 3 November 3 Accounting adjustments Chapter 3 5 Closing the Accounting cycle Chapter 4 10 Closing the Accounting Cycle Chapter 4 12 Practice Question Full Accounting Cycle Chapter 4 13 Make-up class: Class Exam 17 Depreciation Chapter 10 19 Depreciation Chapter 10 24 Accounting for Merchandising Operations Chapter 5 26 Accounting for Merchandising Operations Chapter 5 December 1 Accounting for Inventory Chapter 6 3 Accounting for Inventory Chapter 6 8 Holiday 10 Accounting for Inventory Chapter 6 14-17 Revision Course Polices Attendance Policy: The CIS faculty and administration believe that attendance is critical to understanding and applying knowledge and skills taught. The policy is that students must attend all classes. If a student has four absences the final grade will be lowered by half a grade, (for example, a B will become a B-). After every two additional absences, the grade will be lowered by another half a grade. (After six absences, the final grade will go from a B to a C+). Punctuality: Arriving more than ten minutes late to class will be considered an absence. The student might not be allowed to enter class. Cellular phones: Any student who uses his/her cellular phone during class will be asked to leave the class immediately and will not be allowed to return to class that day. Please note the following If I see your mobile phone in class, you lose 1% of your final grade If your telephone rings, vibrates, or otherwise distracts the class, you lose 2% of your final grade. If I am unable to identify the owner of the offending telephone, and the owner refuses to identify him or her self, then the entire class will lose 2% of their final grade until the telephone owner identifies him or her self. If you use your mobile phone in any way, whether to play a game, use a calculator, take a message etc, you lose 2% of your final grade If you speak on your phone during class, you lose 5% of your final grade and I will request a meeting between you, me and the dean so that you can explain why you should not be expelled from the class. Food and drinks: Students may only consume water during class but no other kind of drinks and no food may be brought to class. Breaks: Officially permitted breaks are scheduled 10 minutes before and after each class. Students should not leave the classroom during the scheduled class. If they do so, then they will be marked absent for that class and will not be allowed to return until the next class. Students with medical problems that impel them to leave class before the end will be allowed back in only if they have previously provided a doctor’s note to the professor explaining this. Students are expected to use the bathroom in the breaks between classes and so if a student goes to the bathroom during a class, they will not be allowed back in that day. Motivation Grade: 10% of the final grade is for motivation and participation in class. A motivated student arrives on time, has pen, paper, calculator and book with them and doesn’t disrupt class. Students will automatically receive their motivation grade each class if they follow the above guidelines. Students who persistently show lack of motivation and participation or who disrupt class will lose 0.5% of their grade and be asked to leave the class that day and will be marked absent. Persistent disruption of class will lead to 1% being deducted and a meeting with the dean will be requested. Academic Honesty Policy: Academic honesty is an expectation of all students. Violations of academic honesty are serious transgressions in an academic setting. Violations undermine the academic integrity and mission of the College for all members of the community. Plagiarism is a violation of academic honesty. Plagiarism is the presentation of someone else¹s words, images, or ideas as one¹s own. Plagiarism includes: copying phrases, sentences, or passages from sources without quotation marks and source citations; paraphrasing or summarizing someone else¹s ideas without acknowledging the source; excessive use of paraphrasing, even when sources are cited; handing in a paper that has been written by or copied from another person or source. Plagiarism is a serious offense. A faculty member may handle plagiarism as he or she sees fit or the faculty member may refer the student’s paper to the Academic Honesty Committee for review and resolution. Plagiarism may result in failure of the course or dismissal from the College. Cheating is a violation of academic honesty. A faculty member may handle cheating as he or she sees fit or the faculty member may refer the matter to the Academic Honesty Committee for review and resolution. Cheating on exams, tests, quizzes or any other assignment may result in failure of the course or dismissal from the College. Unless the faculty member submits the alleged violation to the Academic Honesty Committee for review and resolution in the first instance, a student must appeal a decision of a faculty member on a violation of this policy to the Dean of the School where the violation occurred. The Dean may accept or reject the faculty member¹s decision, or may simply refer the matter to the Academic Honesty Committee. The student or faculty member may appeal the decision of the Dean to the College Academic Honesty Committee for review and resolution. The Academic Honesty Committee shall review any matter referred to it and shall make its recommendations to the Vice President and Dean of the Undergraduate College. The Vice President and Dean of the Undergraduate College shall make the final decision on matters referred to the Vice President and Dean of the Undergraduate College by the Academic Honesty Committee. STUDENT SIGN-OFF – FINANCIAL ACCOUNTING – FALL 2009 I fully understand the Policy and the consequences of violating that Policy. Student Name (please print) ______________________________ ___________________________ Student Signature Date