Accounting 201
Principles of Financial Accounting,
Winter 2015
Section 003 - Monday, Wednesday, and Friday - 09:30 AM to 10:45 AM - COBB 112
Section 001 - Monday, Wednesday, and Friday - 11:00 AM to 12:15 PM - COBB 109
Andrew M. Sbaraglia Ph.D.
E-mail: andys@latech.edu
Office: College of Business 304
Office Hours: Mon. - 1:00 to 5:00 PM
Wed. - 1:00 to 5:00 PM
Fri. - 1:00 to 3:00 PM
Course Description
Principles of Financial Accounting is a foundation course in accounting. Accounting is an information
system that collects, organizes, classifies, and reports financial data and information to various
stakeholders to support more informed decision-making. The course focuses on financial accounting
principles as related to corporations. The accounting process begins with an analysis of business
transactions, and continues by recording changes in the five basic accounts (assets, liabilities, equities,
revenues and expenses). The preparation of financial statements (income statement, equity
statement, balance sheet and statement of cash flows) for the service and merchandising industries is
an integral part of this course. The interpretation of these reports will also be discussed. The
importance of ethical accounting practices are accentuated throughout the course.
Course Prerequisites
Enrollment in Accounting 201 requires sophomore standing. All students who intend to major in
Accounting must earn at least a “C” average in this course.
Special Accommodations
Qualified students needing testing or classroom accommodations based on a disability are encouraged
to make their requests to me at the beginning of the quarter either during office hours or by
appointment. Note: Prior to receiving disability accommodations, verification of eligibility from the
Testing and Disability Services Office is needed. Disability information is confidential. Information for
Testing and Disability Services may be obtained in Wyly Tower 318 or www.latech.edu/ods.
Course Objectives
The objectives of Elementary Accounting are to develop student competencies as follows:
(1) Develop a functional knowledge of basic financial accounting principles through lecture and class
discussion, a variety of problem and case assignments, and examination questions. A functional
knowledge of Principles of Accounting will include at a minimum:
(a) the ability to recognize the impact of basic business transactions on accounts and financial
statements,
(b) an understanding of the relationship between the major financial statements of a business,
(c) an awareness as to the basic forms of business organization and legal characteristics related to
each,
(2)
(3)
(4)
(5)
(d) an appreciation as to the influence of information needs, technological capability, and
professional judgment in an organization’s accounting system,
(e) and the ability to apply concepts of ethical conduct to situations likely to arise in the accounting
environment.
Develop analytical skills through problem assignments and examinations. A variety of
problem/case assignments and examination questions require you to analyze business transactions
or activities, apply text and lecture concepts to specific sets of circumstances, and formulate
appropriate responses.
Develop critical thinking through problem assignments and examinations that will require you to
use critical thinking skills to apply accounting concepts and principles to various situations.
Develop communication skills by reporting the results of operations and the financial condition of
an enterprise in the “language” of generally accepted accounting principles.
Develop technology skills through additional assignments that require the use of excel and wordprocessing packages. You will be required to retrieve class outlines and assignments using
blackboard and electronic mail.
In-Class Time:
Time in class will be spent on lecture and working problems. The student is responsible for lectures,
videos, chapter reading, homework problems, and all examples worked.
Out-of-Class Time:
The general “rule of thumb” is that a student should spend at least three hours outside of class
studying the topic material for each hour in class.
Text Requirements
Edmonds, Edmonds, McNair, Olds. Fundamental Financial Accounting Concepts, 8th Edition, (McGrawHill).
A simple non-programmable calculator.
NOTE: Cell phones are not calculators and will NOT be allowed for exams.
Supplemental Reading
Outside videos, reading and research will be required periodically in order to facilitate learning and
classroom discussion.
Written Communications
At least 10% of your grade will be determined from written communication. The purpose of this
requirement is to test your understanding of key concepts and to improve written communication
skills.
Attendance Requirements
Regular attendance is required in this course and will be checked each class meeting. The class
attendance policy as stated in the 2010-2011 Louisiana Tech University Bulletin will be followed.
Statement of Ethics and Scholastic Dishonesty
The accounting profession has a long-established reputation for its high level of ethical conduct. This
reputation reaches into the academic arena where the profession’s future leaders are being prepared.
Academic dishonesty will not be tolerated in accounting courses. Academic dishonesty includes, but is
not limited to copying, sharing or obtaining information from any unauthorized source during
examinations or quizzes. It also includes copying from or unauthorized sharing of homework
assignments, attempting to take credit for the intellectual creation of another person, or falsifying
information. Any student involved in academic dishonesty will be penalized in accordance with
published University rules.
Academic Honor Code (http://www.latech.edu/documents/honor-code.pdf). In accordance with the
Academic Honor Code, students pledge the following: Being a student of higher standards, I pledge to
embody the principles of academic integrity.”
Electronic Devices
Electronic devices are NOT allowed in class. You will only be allowed to use tape recorders, laptops,
etc. with my permission. Please turn your cell phone off or to silent mode during class period. Cell
phones must remain in your book bag, pocket or purse during class. Cell phones are NOT to be used as
calculators during a test.
Make-up Policy
No makeup exams will be given without prior permission from me. Absolutely no makeups will be
given for missed quizzes, projects or in-class work.
Moodle
The syllabus and other class information will be posted on Moodle.
Emergency Closure of University
In the unlikely occurrence of a major natural disaster or other catastrophic event, we will continue to
conduct class via Moodle. You will need to find a location where you have computer access, and we
will continue with our class through this media. You should also go to the website for the textbook
www.mhhe.com/edmonds7e. Click on the Student Edition and the chapter that we are studying. The
narrated slides, the power point presentations and the study materials will provide you with ample
information until classes resume.
Emergency Notification System:
All Louisiana Tech students are strongly encouraged to enroll and update their contact information in
the Emergency Notification System. It takes just a few seconds to ensure you’re able to receive
important text and voice alerts in the event of a campus emergency. For more information on the
Emergency Notification System, please visit http://www.latech.edu/administration/ens.shtml.
Grading
Grading Scale:
Regular Exams:
Grades based on total points using 10-point scale. (90%=A, 80%=B, 70%=C,
60%=D, Below 60%=F)
There are three unit exams (100 points each).
Final Exam:
The final exam is comprehensive over Chapters 1-13 (100 points).
Pop Quizzes:
Three to five pop quizzes will be given during the term (10 points each).
Participation:
Attendance and class participation will account for 10 points of a student’s final
grade.
Changes to Syllabus
The instructor reserves the right to make changes as necessary to this syllabus. If changes are
necessitated during the term of the course, the instructor will immediately notify you of such changes.
Chapter Assignments – All A Series
The following end of chapter assignments are not used for grading purposes, but will be used to
evaluate the student’s interest level in the class.
Chapter 1
Questions you should prepare: 2, 3, 8, 9, 10, 13, 14, 17, 19, 22, 24, 25, 28, 31, 37
Exercises we will cover in class: 3, 10, 12, 19,
Problems we will cover in class: 34
Chapter 2
Questions you should prepare: 1, 2, 3, 4, 7, 9, 12, 13, 16, 17, 21, 23, 24, 26, 28, 29, 31
Exercises we will cover in class: 1, 5, 7, 8, 21, 23, 37
Problems we will cover in class: 43
Chapter 3
Questions you should prepare: 1, 2, 3, 4, 7, 8, 10, 12, 13, 18
Exercises we will cover in class: 14, 21, 25, 32
Problems we will cover in class:
Chapter 4
Questions you should prepare: 1, 2, 5, 6, 7, 10, 14, 19, 20, 24, 25
Exercises we will cover in class: 1, 2, 4, 5, 10, 26, 27
Problems we will cover in class:
Chapter 6
Questions you should prepare: 6, 7, 8, 12, 17, 25, 29, 36, 37, 40
Exercises we will cover in class: 14, 21, 23
Problems we will cover in class:
Chapter 9
Questions you should prepare: 2, 5, 6, 12, 14, 19, 22, 26, 27, 28, 29
Exercises we will cover in class: 14, 15, 17, 25
Problems we will cover in class:
Chapter 7
Questions you should prepare: 1, 2, 4, 6, 16, 21, 27, 28
Exercises we will cover in class: 4, 6
Problems we will cover in class: 17, 24
Chapter 5
Questions you should prepare: 1, 3, 4, 5, 6, 7, 14, 20, 21
Exercises we will cover in class: 2, 4, 8, 11, 18,
Problems we will cover in class:
Chapter 8
Questions you should prepare: 1, 2, 3, 4, 5, 6, 7, 8, 12, 14, 17, 18, 19, 20, 21
Exercises we will cover in class: 2, 3, 4, 8, 9, 10, 20, 27, 31, 34
Problems we will cover in class:
Chapter 10
Questions you should prepare: 1, 2, 3, 4, 5, 6, 9, 20, 27
Exercises we will cover in class: 10, 11, 12, 13
Problems we will cover in class:
Chapter 11
Questions you should prepare: 1, 2, 4, 8, 9, 10, 11, 15, 20, 23, 24, 25, 26, 30, 32
Exercises we will cover in class: 3, 4, 17
Problems we will cover in class: