Date approved or revised 8-23-13
Angelina College
Business Division
ACCT 2301 – Principles of Financial Accounting
Instructional Syllabus
I.
BASIC COURSE INFORMATION
A. Course Description:
ACCT 2301 is a three-hour credit course. 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
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).
B. Intended Audience:
This course is structured for students pursuing a two-year or four-year Business degree. Material
presented will expose the student to accounting practices followed in a variety of companies.
Emphasis will be on familiarizing the student with the Balance Sheet and Income Statement for a
proprietorship, and steps required for their preparation.
C. Instructor:
Name: Jin Ulmer, CPA, MBA
Office Location: Business Building B102K
Phone: 936-633-5302
Office Hours: Monday & Wednesday: 11:00 am – 12:00 pm 2:30 pm – 4:00 pm
Tuesday & Thursday: 1:00 pm – 4:00 pm
Friday: 8 am – 11:30 am
E-mail Address: julmer@angelina.edu
II. INTENDED STUDENT OUTCOMES:
A. Core Objectives Required for this Course
1. Critical Thinking: to include creative thinking, innovation, inquiry, and analysis, evaluation
and syntheses of information
2. Empirical and Quantitative Skills - to include the manipulation and analysis of numerical
data or observable facts resulting in informed conclusions
3. Personal Responsibility: to include the ability to connect choices, actions, and
consequences to ethical decision-making
B. Course Learning Outcomes 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.
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6. Analyze and interpret financial statements using financial analysis techniques.
7. Describe the conceptual difference between International Financial Reporting Standards
and U.S. Generally Accepted Accounting Principles.
III. ASSESSMENT MEASURES
A.
Assessments for the Core Objectives
1. Critical Thinking: While critical thinking will be used in many aspects of the course, the
key assignment will be assign debits and credits to transactions and prepare various financial
statements in all homework assignments and exams. The student’s performance of this
specific learning activity, will be assessed through utilization of the AC Critical Thinking Skills
value rubric.
2. Empirical and Quantitative Skills: Students will ensure total debits equal to total credits
for each transaction, and also ensure total assets equal to the sum of total liabilities and total
stockholders’ equity. A practice set designed to simulate a real-world environment will be
used for students to utilize their empirical and quantitative skills. The student’s performance of
this specific learning activity, will be assessed through utilization of the AC Empirical and
Quantitative Skills value rubric.
3. Personal Responsibility: As students are instructed on the ethical considerations
associated with excellent business communication, they will be asked to analyze and
determine the ethical issues that are involved and make proper recording in each homework
assignment. The student’s performance of this specific learning activity will be assessed
through utilization of the AC Personal Responsibility value rubric.
B. Assessments for Core Learning Outcomes
1. Students will demonstrate their knowledge of the accounting theory and techniques
required for proper recording of business transactions.
2. Students will demonstrate their knowledge of the human skills necessary for successful
development of communication skills through successful completion of pertinent tests of
assigned topics.
3. Students will demonstrate their knowledge of the basic tools for gaining employment
through successful completion of appropriate testing over the related material.
IV. INSTRUCTIONAL PROCEDURES:
The course is taught using a combination of lectures and hands-on practice in the class that
complement and supplement lecture material. Audio-visual materials, marker board
illustrations, and supervised in-class activities will be employed to enhance lecture
presentations.
V. COURSE REQUIREMENTS AND POLICIES:
A.. Required Textbooks, Materials, and Equipment
Financial Accounting - 9th Edition by Weygandt, Kimmel, & Kieso
A Business Practice set by Larry Falcetto "Campus Cycle Shop"
Calculator – 4-function, pencils and Staedtler-type eraser.
WileyPlus – a publisher’s online tool for reading, studying, practicing, and homework
assignments submission. You will need an access code to WileyPlus, the access code is
included with bundled textbook package at the AC bookstore.
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B. Course Policies – (This course conforms to the policies of Angelina College as stated in
the Angelina College Handbook.)
1. Academic Assistance – If you have a disability (as cited in Section 504 of the Rehabilitation
Act of 1973 or Title II of the Americans with Disabilities Act of 1990) that may affect your
participation in this class, you should see Karen Bowser, Room 208 of the Student Center. At
a post-secondary institution, you must self-identify as a person with a disability; Ms. Bowser
will assist you with the necessary information to do so. To report any complaints of
discrimination related to disability, you should contact Dr. Patricia McKenzie, Administration
Building, Room 105 or 936-633-5201.
2. Discrimination – Angelina College admits students without regard for race, color, creed, sex,
national origin, age, religion, or disability. Inquiries concerning sex equality, disability, or age
should be directed to Dr. Patricia McKenzie (936) 633-5201, Angelina College Administration
Building, Room A105.
3. Attendance –Students have the responsibility of attending all classes and a record of
attendance will be kept by the instructor. Two or more consecutive absences or three or
more cumulative absences have been defined by AC as excessive and the student can
be dropped by the instructor for excessive absences. Students are encouraged to
attend every class, as to do otherwise may adversely impact the student’s grade. The
instructor will take on the responsibility to drop a student from this class for excessive
absences. If a student decides not to complete this course, they must initiate the proper drop
form from the registration office or they will receive an F in this course. Excused absences
will be decided by the instructor. For further information regarding attendance please refer to
the Student Handbook.
4. There is no excuse for tardiness as being tardy is inconsiderate to the instructor as
well as to the fellow classmates. Two late entries to classroom or two leaving early
from classroom equals one absence.
5. The last day to drop this course with a “W” is Nov 9, 2015. Incompletes (I) are not given
unless approved by the instructor. They are subject to approval by the Dean of Instruction.
Failure to appropriately withdraw/drop to complete a course (except as stated above) may
result in a final grade of “F”.
6. Assignments –
Completion of assignments are strongly encouraged before each regular exam for the
chapters covered. All homework assignments post online at WileyPlus.com.
7. Food, drinks, and tobacco products are not permitted in the classroom.
8. All cell phones must be turned off during the class and put away from the desk. Unless
the student has made previous arrangements with the instructor and receive the permission,
they may set the phone to vibrate once, leave room, and not disturb class by talking on
phone. The consequence of disrespecting the cell phone rule will result in dismissal
from class.
9. If you need a tutor, contact the Student Tutoring and Access Center at 633-4504, 2nd floor of
library. Also, if you as a student have special learning needs which should be accommodated
by Angelina College, please contact the Student Services Office.
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VI. COURSE OUTLINE: – Description of the Course Activities, including due dates, schedules,
and deadlines.
DATE
DISCUSSIONS/ACTIVITIES
Aug. 26
Introduce the course and review syllabus
Chap 1 – Accounting in Action
Assignment - online
Sept. 02
Chap 2 – The recording process
Assignment - online
09
Review
Exam 1 – Chap 1 & 2
16
Chap 3 – Adjusting the accounts
Assignment - online
23
Chap 4 – Completing the accounting cycle
Assignment - online
30
Review
Exam 2 – Chap 3 & 4
Oct. 07
Chap 5 – Accounting for merchandise operations
Assignment - online
14
Chap 6 - Inventories
Assignment - online
21
Review and bring practice set and stay after the exam
Exam 3 – Chap 5 & 6
28
Practice Set Workshop
Chap 7 – Fraud, Internal Control, and Cash
Assignment - online
Nov. 04
Chap 8 – Accounting for Receivables
Assignment - online
11
Review
Exam 4 – Chap 7 & 8
18
Chap 9 – Plant assets, Natural resources, and Intangible assets
Assignment – online
25
Thanksgiving Holiday
Dec. 02
Chap 10 – Liabilities
Assignment – online
Practice Set Due
Review
09
Final exam
THIS COURSE OUTLINE IS SUBJECT TO MODIFICATION AT THE DISCRETION OF THE
INSTRUCTOR.
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VII.
EVALUATION AND GRADING:
A. Grading Criteria
Homework - 10 % for homework grade over 70% on WileyPlus.
Practice set -10%, it is a group work, due on April 30, Grade by effort.
4 regular exams - 15% each for the regular exam, quizzes will be the bonus points
for each regular exam.
Final exam is comprehensive – 20%
Make-up exam is only allowed with legitimate reason in regular exams and no
make-up for Final exam.
B.
Determination of Grade (assignment of letter grades)
A = 90-100
B = 80-89
C = 70-79
D = 60-69
F = below 60
The instructor may modify the provisions of the syllabus to meet individual class needs by
informing the class in advance as to the changes being made.
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