CENTRAL CONNECTICUT STATE UNIVERSITY
ACCOUNTING 211
Introduction to Financial Accounting
Spring 2009
1. AC 211 INTRODUCTION TO FINANCIAL ACCOUNTING
2. Course description Prerequisites
(Pre-requisite: MATH 101 with grade of C- or higher). Basic concepts and practice of accounting’s
role in providing information to external users to aid their decision-making activities. Topics include
the preparation of financial statements and accounting for cash, receivables and payables,
inventories, prepaid expenses and long-term assets. Business majors cannot receive General
Education credit for this course.
3. Instructor Information
a. Neal Hannon, Professor
b. Office: VAC 468
i. Office Hours: TR 11:00-12:00, 12:30-2:00
ii. M 6:00-6:30 p.m.
iii. and by appointment
c. Contact info: email through Blackboard VISTA
d. Telephone: 860-832-3238 (leave message)
4.
Course Descriptions/Content/Goals/Objectives
This course in financial accounting covers the analysis and recording of business transactions, the
preparation of financial statements, and the analysis and interpretation of the information contained
in the financial statements
Upon completion of this course, you should have
 Gained knowledge of the accounting standards and processes underlying the preparation of
financial statements.
 Acquired the ability to analyze and interpret the information presented in financial statements.
 Developed proficiency in analyzing the financial statements of a publicly-held company in
order to evaluate the company’s profitability, liquidity, and solvency.
ASSURANCE OF LEARNING
Knowledge and Skills Developed in this Class
1. Accounting standards and processes: You will demonstrate your knowledge of
accounting standards and processes on examinations and on homework assignments.
2. Critical thinking: You will demonstrate your ability to solve problems and deal with
ambiguity on tests and on homework assignments.
3. Business research skills: You will demonstrate your ability to research the financial
statements of a publicly-held company in a financial reporting and analysis project.
4. Financial reporting: You will demonstrate your ability to identify information in the
financial reports of a publicly-held company in a financial reporting and analysis project.
Course Competency
You will be graded on your understanding of the subject matter. Learning is
accomplished in stages. The lowest stage is the ability to cite facts by rote. The next
stage is the ability to build upon the facts and demonstrate their application. The highest
stage of learning is the ability to adapt and synthesize understanding to new and
different situations.
 To demonstrate citation of facts, a multiple choice pre-test and exams will be
administered.
 To demonstrate that you can apply the facts, you will be asked longer questions
that require you to analyze situations and use the information learned to solve
problems.
 To demonstrate the ability to adapt and synthesize understanding, you will
complete a financial reporting and analysis project.
4. Required Texts and Readings
Fundamentals of Financial Accounting, by Phillips, Libby, and Libby, 2nd edition. McGraw-Hill
Irwin ISBN 978-0-07-721455-5.
5. Course Policies
a. Attendance and tardiness
i. Regular class attendance is essential to this course. Roll may be taken at any
point during the period. You are allowed three (3) absences (both excused and
unexcused) in total. Each additional day of absence will result in a point
deduction to your participation and attendance points.
ii. Each time you come to class late, it will count for ½ absence. Each time you
leave class early, it will count for ½ absence.
iii. An absence in the date of the exam is equivalent to two absences.
iv. You must come to class prepared to discuss the chapter, exercises and
problems assigned for that day. An outline of the chapters and cases to be
covered in class is attached.
v. Spending class time on unauthorized use of the computer (web
surfing, shopping, email, playing games etc) will be equivalent to an
absence.
b. Makeup Policies
i. Homework will be collected at the start of each class period at 6:45 p.m., or
2:00 p.m. Place your homework on the desk in front of the room. Late
homework will not be accepted. Homework submitted via email will
not be accepted. Two homework assignments will be dropped. If you need
to print your homework in the classroom printer, bring paper and come ten
minutes before class starts and print and submit homework at the beginning of
class which is 6:45 for the evening class and 2:00 for the afternoon class.
ii. Quizzes. No makeup for quizzes will be given. Quizzes will not be given
earlier or later than scheduled. Two quizzes will be dropped. You must take
the quiz with the class you are registered in. If you are registered in the
morning class, you must take the quiz with the morning class. Same goes for
the afternoon class.
iii. Projects. Projects are due at the beginning of class on the date listed in the
schedule. Late submission of projects will not be accepted.
iv. Examinations. Students who cannot be present for an exam should notify the
instructor in advance of the scheduled exam time. If an acceptable, legitimate
documented excuse (doctor’s certificate that only indicate that the student saw
the doctor that day is not acceptable) is provided, the student will be given a
makeup exam.
c. The University’s Plagiarism Policy – The submission of work other than your own is
subject to the University’s plagiarism policy. All work submitted for grading (quizzes,
assignments, projects, and examinations) should be your own work. Sharing of files
is not acceptable and will be considered cheating. See a copy of the attached
policy and the Student Handbook.
d. Class participation. Class participation is strongly encouraged and will be evaluated at
the end of the semester. Class participation is part of attendance and participation
grade.
e. Student Grading- The following are the total available points in this course:
ASSESSMENT AND EVALUATION:
Attendance and participation
20
Homework assignments
40
Quizzes
40
Financial statement analysis
project
Individual
35
Team
15
Examination 1
50
Examination 2
50
Examination 3
50
Final examination
75
Total points available
375
Letter grades will be assigned based on the percentage of points earned divided by the
total possible points. Here is the possible letter grades assigned to percentage of
points earned in the course:
Percentage
earned
93% and above
90 – 92%
87 - 89%
83 – 86%
80 - 82%
77 – 79%
73 – 76%
70 – 72%
60 – 70%
59% and lower
Letter
Grade
A
AB+
B
BC+
C
CD
F
6. Course Calendar/Schedule (see next page)
7. Time of the final exam. See official schedule.
8. Emergency closing information (
a. check CCSU website, snow phone number (860-832-3333); television and radio
stations
9. Instructional method
a. VISTA. Access to Vista will be through http://pipeline.ccsu.edu. The course will be
using Vista. Vista will have our syllabus, lecture material, calendar and all other
information pertaining to the course. All email to me will be through Vista. Email will
be checked on weekdays. All powerpoint slides, solutions to problems solved in class
and solutions to homework assignment will be posted in Vista.
b. Homework Assignments. Solving homework problems is essential to passing the this
course. Solve and submit your own work, not the work of your classmates or the work
of the tutor. Homework will be collected at the start of each class period. Place your
homework on the desk in front of the room. Late homework will not be accepted.
Homework assignment will consist of problems from the textbook. Each assignment is
worth 5 points each. Homework assignments must be done with the use of Excel .
Each homework must include at the top of the page. Please do not print an extra page
just for your name.
Your name
Problem number
Two homework assignments will be dropped. For this reason, no late assignments will
be accepted. Assignments are due at the start of the class period. Homework
assignments are individual work. Electronic submission of homework will not be
accepted.
c. Quizzes. Quizzes will be given on each chapter during the week the chapter is being
discussed. Two quizzes will be dropped. Quizzes cannot be taken at any other time
then when given to the whole class. You may not take the quiz with another class
and/or at another time.
d. Project. Financial statement analysis is attached. The due dates are included in the
course schedule as well as on the assignment sheet.
e. Examinations. The exams will include objective questions and/or problems and cases
based on text material, class discussions and/or other assignments. You will not be
permitted bathroom breaks during testing periods. If you leave the room, you must
turn in your exam. One 8.5 x 11 inch sheet of paper with hand written notes on one
side may be brought into the exam. The note sheet is required to be turned in with
your exam.
f. Calculator: You must bring a calculator to every class. You cannot use your cellphone
or the computer during the exams and quizzes. Calculators may not be exchanged by
students during quizzes or exams.
g. Re-grading. Requests for re-grading must be handed in at the end of the class in
which the examination, quiz or homework assignment is returned. You must indicate
clearly on another sheet of paper exactly what you feel should be graded and why.
h. Drop and withdrawal policy. The university drop and withdrawal policies are outline in
the undergraduate catalog. The deadline to drop this course (course does not appear
on the student’s transcript) is October 26, 2009. After this deadline, withdrawal from
this course will be granted only under severe extenuating circumstances such
as long-term illness or hospitalization, which can be documented. Note that
poor academic performance is not a legitimate basis for granting a withdrawal beyond
the October 26 deadline date. Please consult the undergraduate catalog for the
withdrawal procedure and requirements. If a withdrawal is granted in this course, the
student will receive a “W” if passing and an “F” if failing at that time.
10.
Students with Special Needs
Any student who feels s/he may need an accommodation based on the impact of a disability
should contact me privately to discuss your specific needs. I will need a copy of the
accommodation letter from Student Disability Services in order to arrange your class
accommodations. Contact Student Disability Services, Room 241, Copernicus Hall, if you are not
already registered with them. Student Disability Services maintains the confidential
documentation of your disability and assists you in coordinating reasonable accommodations with
your faculty.
11. Classroom Etiquette:
a. Do not use computers unless instructed to do so. Monitors must be off until
instructed. Unauthorized use of computers (websurfing, email, playing games. etc)
will be equivalent to an absence.
b. Turn off all cell phones; no receiving of messages including text will be allowed.
c. No eating or drinking in classroom.
d. Be respectful of each other. DO NOT LEAVE EARLY UNLESS YOU GET
PROFESSOR’S PERMISSION BEFORE CLASS STARTS.
12. NO EXTRA WORK FOR EXTRA CREDIT WILL BE GIVEN
AC 211
Tentative Schedule Spring 2009
Exercise
Date
Ch
Aug
31
Sep
14
21
1
1
2
2
3
3
28
4
28
Oct
5
12
4
4&5
5
5
6
6
Topic
Financial results of business activities
Financing results on the balance sheet
Operating results on the income statement
M
E
Coached
Problems
HW due
3,6,14
1
2,,7,9,
10,11
1-5
3
1,2
1,2
PA1-1,2
22
3
PA2-2
Quiz
Ch 1
Ch 2
EXAM 1 (ch 1,2,3)
Adjustments, financial statements, and
quality of financial reporting
7, 11
Understanding financial statements
Ch4 3,14
Ch 3
5
PA3-3
2,1
PA4-2
Ch 4
4,5,10-12
Project Day
Internal control and merchandising
operations
1,2
4,10,11
2
12,13
3
Ch 6
7
Exam 2 (4,5,6)
Inventories and cost of goods sold
1,3,6,11
5,9,11
1
PA6-2
Ch 7
8
Receivables, bad debts, and Interest
1,7
1
1,2,3,5,6
PA7-1
Ch 8
Ch 9
9
Long-lived tangible and intangible assets
3
13,1,2,7
1,2
PA8-3
1,2,4,6,7
10,15
2,5,6,14
19
Individual project due
26
Nov
2
9
Exam 3 (7, 8, 9)
16
10
10
Liabilities
PA9-2
1,2
23
30
7
11
11
12
12
13
Stockholders’ equity
2,5
Thanksgiving Break
Statement of cash flows
2,5
Team project due
Measuring & evaluating financial
performance
Review
17,18,21
1,2,3
PA10-2
2
4,5
PA11-3
Ch11
Ch12
PA12-4