Financial Accounting
Course Syllabus
COURSE TITLE
COURSE NUMBER
PREREQUISITES
Financial Accounting
ACG 2021 (11132 &11133)
None
CREDIT HOURS
CONTACT HOURS
3
45
CLASS MEETING TIMES
CLASS METHOD
Mondays: 5:30-7:20 pm (section 11132); Tuesdays/Thursdays 11:00 am –
12:15 pm (section 11133).
This is a technology enhanced course that meets face-to-face as a traditional
course, but uses an online setting to enhance instruction. A student may
access the online portion of the course at: http://online.fkcc.edu. If you have
difficulty in logging in to the course or do not see the course listed, contact
the Office of Distance Learning helpline at 305-809-3177 or e-mail to
D2lhelp@fkcc.edu for assistance.
INSTRUCTOR
Michael Garcia, CPA
Mobile Office: 305-294-2211
michael.garcia@fkcc.edu
mlgcpa@gmail.com
OFFICE HOURS
Mondays from 7:30 pm to 8:00 pm; T/R from 12:30 – 1:00 pm.
COURSE DESCRIPTION
Major topics covered in ACG 2021 are as follows: Basic structure of
accounting, accounting for merchandising enterprises, accounting systems,
accounting principles, partnerships, and corporations.
IMPORTANT DATES:
November 12, 2015:
Last day for faculty members to withdraw students
and assign the grade of "W" to students on grade
roster. Students remaining in classes after this date
will receive a final grade from their professors.
COURSE OBJECTIVES
Upon completion of the course, the student will be able to demonstrate
knowledge—by successfully answering questions on an objective examination—
of the following topics: identify the accounting equation; apply the proper rules
for debiting and crediting when making general journal entries; understand the
accounting cycle, including the preparation of a trial balance, preparing adjusting
entries, completing a worksheet and preparation of the financial statements;
understand the proper accounting for a merchandising operation, including
the calculation of cost of goods sold and preparation of a multi-step income
statement; determine the ending inventory values under various assumptions
(such as LIFO, FIFO, or Average costing) under both the periodic and perpetual
inventory systems; understand and apply the objectives and elements of internal
control; understand and apply the accounting for uncollectible receivables;
determine the proper valuation and presentation of current assets, long-term
assets, calculation of depreciation, current and long-term liabilities (including
valuation and presentation of bonds payable), and stockholders' equity accounts;
understand valuing and reporting investments in the financial statements;
prepare a Statement of Cash Flows using the direct and indirect methods; use
various financial ratios to analyze an organization's financial statements.
REQUIRED TEXTBOOK
PUBLISHER
AUTHORS
ISBN
Financial & Managerial Accounting, 13th Edition
South-Western Cengage
Warren/Reeve/Duchac
Print: ISBN-13 9781285866307
Please note:
PROPOSED COURSE SCHEDULE
The course schedule is subject to change to meet the needs of the course and its students. If you miss
a class, it is YOUR responsibility to stay current.
Mondays 5:30 pm to 7:20 pm; Section 11133
Meeting Date
(Mondays)
08/31
Textbook Chapters--Topics
Chapter 1 - Introduction to Accounting and
Business
Assignments
EX 1-6, 1-13, 1-25, & PR 1-1A
09/14
Chapter 2 – Analyzing Transactions
Chapter 3 – The Adjusting Process
EX 2-3, 2-7, PR 2-2A, 2-3A
EX 3-1, PR 3-1A, PR 3-2A
09/21
Chapter 4 – Completing the Accounting Cycle
EX 4-3, 4-4, 4-20, PR 4-1A,
4-4A
Online exam/quiz on
chapters 2 & 3.
09/28
Chapter 5 – Accounting for Merchandising
Businesses
EX 5-1, 5-7, 5-8, PR 5-3A, 5-5A
10/05
Chapter 6 – Inventories
EX 6-7, 6-12, 6-13
Online exam/quiz on 4 & 5.
10/12
Chapter 7 - Sarbanes-Oxley, Internal Control,
and Cash
EX 7-1, 7-16, 7-18, PR 7-3A
10/19
Chapter 8 – Receivables
EX 8-4, 8-11, 8-19, PR8-4A
Online exam/quiz on 6 & 7.
10/26
Chapter 9 – Fixed Assets and Intangible Assets
EX 9-3, 9-4,9-13, PR 9-2A
11/02
Chapter 10 – Current Liabilities and Payroll
EX 10-4, 10-12, 10-22, PR101A
Online exam/quiz on 8 & 9.
11/09
Chapter 11 – Corporations: Organization, Stock
Transactions, and Dividends
EX 11-8, 11-12, 11-16,
PR 11-4A
11/16
Chapter 12 – Long-Term Liabilities: Bonds and
Notes
EX 12-8, 12-9, 12-11
PR 12-2A, PR12-3A
11/23
Chapter 13 – Investments and Fair Value
Accounting
PE 13-1A,13-2A, EX 13-7
Online exam/quiz on 11 & 12.
11/30
EX 14-12, 14-6, 14-7,
Chapter 14 – Statement of Cash-Flows
12/07
Chapter 15 – Financial Statement Analysis
EX 15-4. 15-5, PR 15-4
Online exam/quiz on 14.
12/14
Exam/Quiz – Finals Week (In-class)
14/Dec./2015 from 5:00 pm to 7:30 pm
In-class exam/quiz
Tues./Thurs. 11:00 am to 12:15 pm; Section 11132
Meeting Date
(Mondays)
08/27
Textbook Chapters--Topics
Chapter 1 - Introduction to Accounting and
Business
Assignments
EX 1-6, 1-13, 1-25, & PR 1-1A
09/01 & 03
Chapter 2 – Analyzing Transactions
EX 2-3, 2-7, PR 2-2A, 2-3A
09/08 & 10
Chapter 3 – The Adjusting Process
EX 3-1, PR 3-1A, PR 3-2A
09/15 &17
Chapter 4 – Completing the Accounting Cycle
09/22 & 24
Chapter 5 – Accounting for Merchandising
Businesses
EX 4-3, 4-4, 4-20, PR 4-1A,
4-4A
Online
on5-5A
EX 5-1,
5-7, exam/quiz
5-8, PR 5-3A,
chapters 2 & 3.
09/29 & 10/01
Chapter 6 – Inventories
EX 6-7, 6-12, 6-13
Online exam/quiz on 4 & 5.
10/06 & 10/08
Chapter 7 - Sarbanes-Oxley, Internal Control,
and Cash
EX 7-1, 7-16, 7-18, PR 7-3A
10/13 & 10/15
Chapter 8 – Receivables
EX 8-4, 8-11, 8-19, PR8-4A
Online exam/quiz on 6 & 7.
10/20 &10/22
Chapter 9 – Fixed Assets and Intangible Assets
EX 9-3, 9-4,9-13, PR 9-2A
10/27 & 10/29
Chapter 10 – Current Liabilities and Payroll
EX 10-4, 10-12, 10-22, PR101A
Online exam/quiz on 8 & 9.
11/03 & 11/05
Chapter 11 – Corporations: Organization, Stock
Transactions, and Dividends
EX 11-8, 11-12, 11-16,
PR 11-4A
11/10 & 11/12
Chapter 12 – Long-Term Liabilities: Bonds and
Notes
EX 12-8, 12-9, 12-11
PR 12-2A, PR12-3A
11/17 & 11/19
Chapter 13 – Investments and Fair Value
Accounting
PE 13-1A,13-2A, EX 13-7
Online exam/quiz on 11 & 12.
11/24
EX 14-12, 14-6, 14-7,
Chapter 14 – Statement of Cash-Flows
12/01
Chapter 14 – Statement of Cash-Flows
Chapter 15 – Financial Statement Analysis
EX 14-12, 14-6, 14-7,
EX 15-4. 15-5, PR 15-4
12/03 & 12/08
Chapter 15 – Financial Statement Analysis
EX 15-4. 15-5, PR 15-4
Online exam/quiz on 14.
12/15
Exam/Quiz – Finals Week (In-class)
15/Dec./2015 from 11:00 am to 1:30 pm
In-class exam/quiz
STUDENT EVALUATION AND COURSE POLICIES
Points
100
100
100
700
1,000
STUDENT GRADE DETERMINATION
Item:
Homework
Class Participation
Computer Assignment (Excel) (Online.)
Exams/Quizzes
Total
Quality of Work Expectations
FKCC GRADING SCALE
90% or above
80%-89%
70%-79%
60%-69%
Below 60%
A
B
C
D
F
A: Completion of an assignment or participation in class, in a timely manner, of a quality and level of insight that far
exceeds average expectations
B: Completion of an assignment or participation in class, in a timely manner, of a quality and level of insight that
exceeds average expectations
C: Completion of an assignment or participation in class, in a timely and acceptable manner
D: Submission of an assignment or participation in class that does not meet all requirements or whose quality does not
meet the standards of college level work
Task Completion Policy
As a rule, Dr. Choate does not accept late work. Exceptions are rare and will be granted at the discretion of the
instructor. Tests will not normally be rescheduled. If you are unable to be present for a test, please discuss this with me
prior to the test. Exceptions will be granted only in extreme circumstances
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Exam Policy
Tests 1-3 will be completed online. Test 4 will be completed during the final exam period.
Makeup exams may be offered to students with emergencies, but only if they can provide acceptable
documentation of the emergency (e.g., hospital admit slip, etc.). The instructor reserves the right to change the
format of any makeup exams (e.g., to essay questions).
Reading Assignments and Homework
This class covers a lot of material and there are some concepts that may be difficult to grasp. Experience has shown
that students who are successful in this class generally have study time totals on the higher of the scale.
Few students do well in this course if they are spending fewer than 5 or 6 hours studying every week. If you do not
have a strong background in this subject, you study time will almost certainly need to be on the higher end of the
scale if you want to earn a good grade.
This course is extremely rigorous and will require a great deal of preparation and problem practice form you, outside
of classroom time.
Attendance
YOU MUST BRING YOUR TEXT TO EVERY CLASS
Students earn points for each class they attend and in which they participate. Students are expected to be present
for the entirety of the class period. From time to time a student must leave the classroom during the class period.
This should be infrequent and not habitual. Ultimately, each student bears the responsibility to be aware of, and
comply with, attendance and punctuality requirements.
Arriving late, leaving early, unauthorized cell phone and non-class computer usage, as well as any other disruption of
class will result in loss of points.
Unexcused absences will result in a loss of participation points; excused absences (i.e., those with acceptable
documentation of an emergency) will not result in point loss.
Please note that the instructor may withdraw a student from a course for excessive absences (see FKCC Policies).
For our purposes, “excessive absences” is defined as more than two unexcused absences, or more than two
consecutive absences. This class meets one time per week, so regular attendance is critical.
Classroom Behavior
Any conduct by the student, which is detrimental to that student's success or best performance or to the success or best
interests of the class as a whole may result in the permanent removal of the student from the class. Detrimental
activities include excessive absences or being tardy, rude or disruptive behavior including but not limited to
inappropriate emails, chats and discussion board posts to student or the instructor, lack of effort, negative influence
upon others in the class, etc.
Academic Honesty & Plagiarism
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Students are expected to respect and uphold the standards of honesty in submitting written work to instructors.
Though occurring in many forms, plagiarism in essence involves the presentation of another person’s work as if it
were the work of the presenter.
Any cheating or plagiarism will result in disciplinary action to be determined by the instructor based on the severity
and nature of the offense. It is the student’s responsibility to review the College’s policy on Academic Honesty.
Special Needs
If you have any special needs or requirements pertaining to this course, please discuss them with the instructor early in
the term. If you have special needs as addressed by the Americans with Disabilities Act (ADA) and need assistance,
please notify the Office for Students with Disabilities at 305-809-3262 via email at: Suzy.park@fkcc.edu or the course
instructor immediately. Reasonable efforts will be made to accommodate your special needs.
Copyright Notice
The materials and content provided in this course is intended only for registered Florida Keys Community College
students who have paid their tuition and fees to attend this course. Materials that are affected include, but are not limited
to, text, still images, audio recordings, video recordings, simulations, animations, diagrams, charts, and graphs. Every
effort has been made to insure these materials are not disseminated to anyone beyond those who have legally registered
for this course. Download, revision, or distribution of course material with anyone other than registered classmates and
the instructor is strictly prohibited.
Students are expected to familiarize themselves with FKCC Policies,
which can be found in the current Student Handbook.
Class Contract
The Class Contract assignment is my method of ensuring you know what you should expect from me, and what I
expect from you. By returning the Class Contract to me, you are acknowledging that you:
a. Understand the policies detailed in this Syllabus.
b. Understand the expectations and due dates listed in the Course Calendar and Assessment Measures.
c. Understand that you will be held accountable to the standards published in this document.
d. The Class Contract may be submitted to me in class, or via the dropbox by the date published in the Course
Calendar and Assessment Measures.
By signing my name I acknowledge the above.
Print Name:
Signature:
Date: