ACCT 2300
Principles of Financial Accounting – Honors Section
Fall, 2013
Instructor:
Robert Ricketts
Frank M. Burke Chair in Taxation
Director, School of Accounting, Rawls College of Business
Office:
BA E368
Phone/email:
834-3180
rricketts@ba.ttu.edu
Web Address:
http://rricketts.ba.ttu.edu
Teaching
Assistant:
Rachel Crook
Required Text: Kimmel, Weygandt, Kieso. Financial Accounting Tools for Business Decision Making 7e (Wiley
2013)
Course Objectives:
Accounting is the language of business. Mastery of this language is imperative for long run business success – those
who understand accounting can better analyze the operations of a business, its financial position, and its future
prospects. A solid grasp of accounting strengthens one’s ability to make good financial and economic decisions. It
will render you better able to choose between alternative investment options, better able to make appropriate pricing
decisions, better able to manage costs, better able to allocate resources between different departments of divisions
within a business and generally better able to distinguish good companies, and good managers, from those whose
talents and prospects are only average or worse.
Learning Outcomes:
Upon successfully completing this course, students will be able to:
 Describe the objectives of financial reporting
 Understand the accounting cycle
 Identify account names and their characteristics
 Demonstrate the effect of business transactions on the accounting equation
 Apply accounting assumptions, principles, and constraints to measure, record, and interpret business
transactions
 Use the rules of debit and credit to record transactions
 Combine individual measurements of accounting elements into financial statements
 Demonstrate an understanding of the relationships of the elements on the financial statements
 Analyze primary financial statements to identify differences in the financial strength of different
companies and to evaluate changes in the financial position of a particular company over time.
Assessment Methods:
The expected learning outcomes for the course will be assessed through exams, on-line exercises, cases, and real
company analyses, and written and oral analyses of cases. To be successful, you must devote sufficient time and
attention to reading assigned material, and preparation of on-line assignments. Although they count, in the
aggregate, for 30% of your final course grade, those who do not actively participate in the learning process, through
completion of these activities and reading assignments, will find that their performance on examinations also suffers.
Thus, homework, assignments, etc., will have both a direct and an indirect impact on your final course grade.
Course activities will carry the following weights:
Regular Exams (2)
Final Exam – Comprehensive
200 points
100 points
Online Assignments
Written and oral case analyses
Total
75 points
75 points
450 points
To receive an A, you must accumulate 405 points; for a B, you must accumulate 360 points, 315 for a C and 270 for
a D. Please note that the grading process is a mathematical calculation of the components listed above. Extra credit
is not available. All students will be graded equally and fairly.
Academic Honesty:
Integrity is the cornerstone of the practice of accounting, and accounting students in the Rawls College of
Business do not cheat, nor do they tolerate cheating by their classmates. Any student found cheating on any
assignment in this class will receive an F for the course. In egregious circumstances, I will pursue more
substantial sanctions, up to and including expulsion from the Honors College, the Rawls College of
Business, and/or the University. Do not test this policy. If you are unsure whether a particular behavior may
be construed as inappropriate, contact me before engaging in it. Integrity is a minimum requirement for all
students participating in accounting courses in the College of Business. Those who lack it should not plan
to enroll in subsequent accounting courses.
Disabling Conditions:
Any student who, because of a disabling condition, may require special arrangements in order to meet
course requirements should contact the instructor the first week of classes to make necessary
accommodations.
Civility in the classroom
The Texas Tech University Provost has asked that the following statement be included in this syllabus:
“Students are expected to assist in maintaining a classroom environment which is conducive to
learning. In order to assure that all students have an opportunity to gain from time spent in class,
unless otherwise approved by the instructor, students are prohibited from using electronic devices,
challenging instructor’s authority, eating or drinking in class, coming in late or leaving early,
making offensive remarks, reading newspapers, sleeping or engaging in any other form of
distraction. Inappropriate behavior in the classroom shall result in, minimally, a request to
leave class.”
Religious Holidays
A student who is absent due to a religious holy day will be allowed to take an exam or complete an
assignment missed on that day.
Changes
I reserve the right to make changes in the syllabus, including changes in the number or dates of assignments
and exams. In particular, I reserve the right not to count scores on assignments or exams in the event that
the integrity of the assignment or exam is, or may have been, compromised. Any changes in assignments or
due dates will be announced in class. It is the responsibility of each student to attend class and become
aware of such changes.
Course Schedule (subject to change)
Date
Aug 27
Aug 29
Sep 3
Sep 5
Sep 10
Sep 12
Sep 17
Sep 19
Sep 24
Sep 26
Oct 1
Oct 3
Oct 8
Oct 10
Oct 15
Oct 17
Oct 22
Oct 24
Oct 29
Oct 31
Nov 5
Nov 7
Nov 12
Nov 14
Nov 19
Nov 21
Nov 26
Nov 28
Dec 3
Topic
Assignment
Introduction to Financial Statements
A Further Look at Financial Statements
The Accounting Information System
Demo on software
Chapter 2 exercises
Chapter 3 exercises
Accrual Accounting Concepts
Chapter 4 exercises
Case 1
EXAM 1
Merchandising Operations & the Multiple
Step Income Statement
Reporting and Analyzing Inventory
Chapter 5 exercises
Fraud, Internal Control and Cash
Chapter 7 exercises
Case 2
Reporting & Analyzing Receivables
Reporting & Analyzing Long-Lived Assets
Chapter 8 exercises
Chapter 6 exercises
Chapter 9 exercises
EXAM 2
Reporting & Analyzing Liabilities
Reporting & Analyzing Liabilities (cont)
Chapter 10 exercises
Reporting & Analyzing Stockholders’ Equity
Chapter 11 exercises
Statement of Cash Flows
Case 3
Financial Analysis: The Big Picture
Thanksgiving
Financial Analysis: The Big Picture
FINAL EXAM
Chapter 12 exercises
Chapter 13 exercises