University of North Carolina at Greensboro Bryan School of Business and Economics Department of Accounting and Finance ACC 201: Financial Accounting FALL 2015: Tuesdays 6:00pm – 8:50pm; Bryan 122 Last Updated August 2, 2015 Contact Information Lecturer: Dave Kame, BSA, CPA, MBA, CGMA Office: 386 Bryan (By appointment only) Email: Dfkame2@uncg.edu Office Phone: 336-803-5572 (Texts to this number preferred) Prerequisite: Any one of the following: MAT 115, 120, 150, 151, 191 or 292. Note that TEXTING (336-803-5572) is the best method to quickly get in touch with me via my cell. Email however gives you a trail and historical record and is the 2nd best. NOTE: EXPECTATIONS OF WHAT YOU WILL/WILL NOT GET FROM THIS CLASS: 1. You will receive an A only if you earn it. If you devote small resources, you will not walk away with a good understanding of the material…or a good grade. 2. You will be expected to read the book BEFORE lecture to enable you to identify what you are confused with WHILE WE ARE LECTURING ON THE CHAPTER. 3. You are expected to take your own quality notes. No outlines will be handed out. 4. The tutors (Graduate/Upper Class Assistants) will not teach you the material if you have missed lecture. They will assist on homework if you have read the book, taken good notes, and really tried on the problem. 5. If you choose to be somewhere else other than class, the potential negative results are your responsibility. This is to be your priority on class nights..no exceptions 6. All subjects covered on our tests will be touched upon in lecture. However, some topics on the test may not have been assigned a homework problem. Therefore, attending lecture and taking good notes and understanding classroom examples is critical. 7. YOU..should work within you class to be a part of a 4-5 person study group. 8. If you devote the appropriate resources, you should obtain a solid working knowledge of basic Accounting to enable you to function in today’s business environment in a variety of careers. 9. There are not planned extra credit assignments. Course Objectives: - Demonstrate an understanding of basic accounting terminology and procedures - Create the financial statements which flow from the accounting process - Understand the accounting cycle and the accounting system - Develop an understanding of how business organizations operate and the events which have a financial impact upon them - Understand the time value of money concepts - Facilitate the development of the student’s written communication skills through an essay assignment, essay assessment and/or business memo assignments ACC 201 SYLLABUS - Contribute toward the Bryan School’s commitment to information technology by requiring students to use the internet, e-mail, word processing software and spreadsheet software where appropriate within the course. Class Organization, Procedures and Expectations It is no secret that Financial Accounting 201 is a CHALLENGING and TIME CONSUMING class for most non business majors. To succeed, you must keep up with the material and assignments. It is a subject that students must study regularly. Cramming will not work. Students who do not keep up with the class reading, homework, and lecture will not succeed in ACC 201. ACCOUNTING TUTORS are available to assist with problem solution in Bryan 335. Their hours will be posted on the door. Therefore, I have the following expectations of you: Carry myself as an adult giving appropriate respect to those around me and the instructors and tutors and avoid causing distractions during lecture. Read the assigned book material BEFORE the lecture Bring textbook, notebook, pencil and calculator to each class. Bring a Laptop that can dial into the Pearson System. (Note: 100% of the compatibility issues I have witnessed was with Apple Laptops. I can’t help you with those if used—but some Apples worked fine) o Test your PC before class o Always have a power cord. o Backup battery a good idea Devote at least six to nine hours a week outside of class for studying Take full advantage of tutors in room 335 to review problem areas Contact your instructor as soon as possible if you continue to encounter difficulties after reviewing with tutors. Have a positive attitude, share your constructive experiences when appropriate. (PARTICIPATION) Be on time for class and have good attendance DO NOT small talk during the Lecture on non accounting issues. If you have an Accounting Point to share, include the whole class & myself. In return, I pledge to: Be on time and prepared for class Be organized in my lectures as well as in the general conduct management of the class Provide you with information in advance so you can schedule your work Clearly explain concepts and problems reinforced with real world examples. Treat you fairly with respect to exams, grading, etc Be respectful of you and have a good attitude Provide timely feedback on assignments and exams Cover as many questions as time allows in class. Answer your questions on the chapter being lectured on. For further Faculty and Student Guidelines, please see: http://bae.uncg.edu/assets/faculty_student_guidelines.pdf ACC 201 SYLLABUS A large portion of class time is devoted to lecture. Therefore, individual study and preparation outside of class are extremely important to your success. Please read the material and work problems before coming to class. Course Materials: 1. Text: Financial Accounting: A Business Process Approach . Jane Reimers. ISBN: 1256636754. This is a custom textbook for UNCG, although you are welcome to purchase the regular textbook: Publication Date: March 1, 2010 | ISBN-10: 0136115276 | ISBN-13: 978-0136115274 | Edition: 3. 2. CANVAS/Pearson . Announcements, handouts, slides, and other materials for class. You need to print these out and bring them to class. I will NOT be able to provide copies in class. If you miss a class, then it is your responsibility to get the notes and any missed materials and information from another student in the class. 3. MyAccountingLab (MAL): http://pearsonmylabandmastering.com/ . Homework gets submitted via MAL. 365 days of access to MyAccountingLab is included with a new textbook purchase or can be purchased online. You can receive free access for 17 days. Please go to the MAL website to register. The course id is: (To be announced) . Detailed instructions are at the end of this syllabus. If you are experiencing a problem with the MAL website, please call the MAL Customer Help Desk at (800) 677-6337 or visit http://pearsonmylabandmastering.com/students/support/ . Grades will be determined by: - Exam #1: 25% - Exam #2: 25% - Final Exam (Cumulative): 25% - Homework: 20% - Class Participation: 5% o The grading scale is as follows for undergraduate students: A 92% and above A90 – 91.99% B+ 88 – 89.99% B 82 -87.99% B80 – 81.99% C+ 78 – 79.99% C 72 – 77.99% C70 – 71.99% D+ 68 – 69.99% D 62 - 67.99% D60 – 61.99% F < 60% All Exam and Homework grades will be available on Pearson. Participation grades will appear in CANVAS. Please contact me immediately if you identify an error. Homework grades are automatically posted to your MAL account. Exam Information. There will be two midterm exams and a final exam. The midterm exams and final exam will likely have multiple choice questions to test basic knowledge and comprehension of principles and concepts. Open-ended problems will be used mainly to see if you can apply the principles and concepts for solving problems, analyzing situations, and evaluating alternatives. The final exam will cover topics following Exam 2 and also selected topics from earlier in the semester. ACC 201 SYLLABUS There are no makeup exams. If you contact me prior to the exam period and I determine that you have a legitimate reason for missing the exam, you may have the weight of the missed exam placed on the final exam. Also, you may also be able to take an early exam by notifying me at least 48 hours in advance of the regularly scheduled exam subject to my approval. Any request for special accommodations such as extra time to take exams must come through the Office of Disability Services with the appropriate paperwork. For more information, please visit http://ods.dept.uncg.edu/services/ FINAL EXAM TIMES & DATES ARE ASSIGNED BY THE REGISTRAR TO AVOID ANY POSSIBLE CONFLICTS. IF ANOTHER PROFESSOR HAS CHOSEN A FINAL EXAM THAT CONFLICTS WITH OURS, PLEASE SEE THE REGISTRAR FOR RESOLUTION. Unfortunately you will not be allowed to converse, pass notes, or look on your neighbors screen. To do so will result in a zero for the exam. Homework Assignments & Due Dates of Same There are eight homework assignments. Each homework assignment covers multiple chapters. The assignments are available online through MAL. Each assignment remains open and available to you throughout the time the relevant chapters are covered in class. I encourage you to work on the assignments periodically as we cover each chapter rather than leave all homework questions for each assignment unworked until the due date. As you do periodically work on each assignment, your work can be saved in MAL and accessed at a later time before the due date. Thus, you may work on the same assignment at different times. Late homework will not be accepted-see due dates on the calendar in this syllabus Participation and Attendance: Attendance is expected in this class, and therefore, the instructor will keep an attendance record. The first step towards having first-rate participation is for students to be present in class. Missing a class will reduce the participation grade by 1012 percent per class. The student is responsible for any announcements made during class even if the student is absent. Class participation is also part of the overall class grade. Participating in class offers you the opportunity to learn from the diverse experiences and knowledge of colleagues. The participation will be based on your involvement in the class discussions. An “A” grade for participation requires frequent and insightful comments, while a “B” grade reflects moderate participation and useful comments. A student who are not proactive in discussions or who is unprepared to actively participate on a regular basis will not receive a “B” grade or better. I keep an attendance and participation roster to help me keep a record of frequent and insightful comments. Although a student’s attitude is not explicitly in the participation grade, it may be considered in the determination of the final grade. Discourteous and/or unprofessional behavior to me and/or fellow students may adversely affect a student’s grade. The amount of the grade reduction is at my discretion. PARTICIPATION IS NOT JUST SHOWING UP FOR CLASS. Please turn off cell phones during class and limit your computer use to note taking or looking up information only when required by class activities. The development of a supportive learning environment is fostered by respectfully listening to the ideas of others, being able to understand and appreciate a point of view which is different from your own, clearly articulating your point of view, and linking experience to readings and assignments. ACC 201 SYLLABUS We will cover a great deal of information in each class. If you will not be able to attend a class, let me know as soon as possible. It is your responsibility to obtain all information/content from your classmates. In order to fully participate in and benefit from each class session, students must complete required readings in advance and come to class prepared to discuss them. Academic Integrity You and I are expected to abide by the UNCG Academic Integrity Policy as well as by the UNCG Codes of Conduct. I respect and expect you to uphold the UNCG Honor Code that includes, among other things, that you complete your own work on your own to the best of your ability. Cheating in this class results in automatic failure of the course. I will report the incident to the Honor Court for full due processing. This ends up being a lengthy and stressful process for both the student and the instructor. Please visit the following link to remind yourself of the full Code. http://bae.uncg.edu/assets/faculty_student_guidelines.pdf Policy on Accommodations for Students with Disabilities Students with disabilities that affect their participation in the course must notify me THE FIRST NIGHT, if they wish to have accommodations in instructional or examination format. I will work with the Office of Disabilities and the student to make appropriate accommodations when they notify me. Student Study Program through the Student Success Center As a student in this course, you have the opportunity to participate in the Student Study Program (SSP), which is one of the four programs housed in the Student Success Center located in the McIver Building. SSP is designed to offer additional academic support for students enrolled in historically challenging classes that have high drop, failure, and/or withdrawal rates. The purpose of SSP is to offer students the opportunity to form collaborative study groups of up to 4 of their peers. Students will be matched by the program coordinator with other students in the same course and section. To sign up or to learn more about SSP, go to http://success.uncg.edu/ssp/. If you have further questions, you may also contact the Coordinator of the Student Study Program at ssp@uncg.edu. Other Comments: There are no opportunities for extra credit in this course.The material in this course may be difficult for some. However, it is vital to your professional Business Management success. If you are having problems understanding the subjects presented, see me when you first encounter problems. Since this course builds on cumulative knowledge, problems in the early portion of the class will only compound as the semester progresses. THE DATE AND TIME OF OUR FINAL EXAM IS SCHEDULED BY THE UNIVERSITY SUCH THAT THERE WILL NOT BE A CONFLICT. IF ANOTHER PROFESSOR SCHEDULES HIS/HER EXAM IN CONFLICT, PLEASE SEE THEM FOR RESOLUTION OR MAKEUP. LET’S SUCCEED TOGETHER! ACC 201 SYLLABUS SCHEDULE OF CLASS TOPICS AND ASSIGNMENTS (subject to change at instructor’s discretion) DATE Jan 12 Jan 19 Jan 26 Feb 2 TOPIC CHAPTER Introduction to Class & Business: What’s It All About 1 Qualities of Accounting Information Submit Homework-Chapter 1 in MAL by 6pm 2 Accruals and Deferrals Submit Homework-Chapter 2 in MAL by 6pm 3 1 2 Review-Chapters 1-3 Submit Homework-Chapter 3 in MAL by 6pm Feb 9 EXAM #1 Feb 16 Work through Exam 1 Payment for Goods and Services 3 Chapters 1-3 4 Feb 23 Payment for Goods and Services Purchase and Sale of Inventory 4 -5 Mar 1 Purchase and Sale of Inventory Submit Homework-Chapter 4 in MAL by 6pm 5 Mar 8 SPRING BREAK Mar 15 Acquisition and Use of Long-Term Assets Submit Homework-Chapter 5 in MAL by 6pm Mar 22 4 6 5 Review for EXAM #2 Submit Homework-Chapter 6 in MAL by 6pm 6 Mar 29 Exam #2 Apr 5 Accounting for Liabilities Time Value of Money 7 Apr 12 Accounting for Shareholders’ Equity Submit Homework-Chapter 7 in MAL by 6pm 8 Apr 19 May 3 HOMEWORK ASSIGNMENT Chpts 4-6 Review for FINAL EXAM Submit Homework-Chapter 8 in MAL by 6pm 7pm-10:00pm FINAL EXAM (CUMULATIVE) ACC 201 SYLLABUS 7 8