STATE FAIR COMMUNITY COLLEGE
ACCTG 101: PRINCIPLES OF FINANCIAL ACCOUNTING COURSE SYLLABUS
Instructor:
Phone:
E-mail:
Rena Galloway
660-596-7281
rgalloway@sfccmo.edu
Office Hours: As posted on Campus Web and also by appointment
Fielding Technical Center, Room 202
Term Dates: January 8, 2007 – May 11, 2007
Meeting Times: MWF 10:00 A.M. – 10:50 A.M.
TR 9:30 A.M. – 10:45 A.M.
Location:
Fielding Technical Center, Room 217
Student resource sites: http://www.prenhall.com/harrison
http:/www.sfcc.blackboard.com
COURSE DESCRIPTION: This course is an introduction to the fundamental principles of financial
accounting. Generally accepted accounting principles are used to identify and properly classify the various
elements of financial statements and to analyze the effect of business transactions on the earnings, financial
position and equity of business entities. (This course is required for AA students with a business
administration emphasis, all AAS Accounting majors and certain other AAS majors for whom it may be a
degree requirement. This course is not an equivalent substitute for ACCTG100).
PREREQUISITES: Enhanced ACT math score of 16 (or equivalent math placement score) or BSKIL
061 with a passing grade, and enhanced ACT English score of 14 (or equivalent placement score) or
BSKIL 010 with a passing grade.
COURSE GOALS:
1. To acquaint the student with the accounting profession and to provide students with a strong
foundation for subsequent course work and careers in accounting, as well as other business
disciplines.
2. To introduce students to the framework of financial accounting theory and practice; provide students
with a basic introduction to the functions of a financial accounting system and accounting
terminology.
3. To develop the student's ability to analyze, process and communicate accounting data through the end
result of preparing financial statements using generally accepted accounting principles.
4. To develop in each student an appreciation of the usefulness and limitations of properly prepared
financial statements for both internal and external uses.
5. To acquaint students with various business transactions and to analyze the impact these transactions
have on the financial statements.
COURSE ARRANGEMENT:
a. Demonstrative lecture by instructor
b. Class discussion and presentation
c. Problem solving by students
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R. Galloway
d.
e.
Homework and assignments
Examinations
REQUIRED MATERIALS:
Financial Accounting, Sixth Edition, Harrison/Horngren
Working Papers to accompany textbook
2 Mechanical Pencils, lead refills, erasers
SUGGESTED ADDITIONAL MATERIALS:
Study Guide for use with textbook (hard copy and partial online copy available)
Selected homework solutions (available for download on Blackboard course site)
Simple-function, non-programmable calculator
Medium sized three-ring binder and 3-hole notebook paper
ACADEMIC ASSISTANCE/TUTORING: Any student enrolled in this course may use the Student
Achievement Center located in the Yeater Building for individualized help with homework and
preparing for exams. Please use this service and/or consult with your instructor at the first sign of need.
Don’t wait until you’re too far behind to catch up!
COMPUTER LAB INFORMATION: Students may use computers in the SFCC Computer Lab located
in the Fielding Building to complete homework and classroom assignments. The Lab is open from 8:00
a.m. to 9:30 p.m. Monday-Thursday; 8:00 a.m. to 4:00 p.m., Friday; and 9:00 a.m. to 1:00 p.m.,
Saturday. The Computer Lab is closed on Saturdays when Friday or the following Monday is a holiday.
Computers are also located in the Proctor Library in the Yeater Learning Center. Library hours are 7:30
a.m. to 8:30 p.m. Monday-Thursday, and 7:30 a.m. to 4:00 p.m. Friday. The Library is closed weekends
and holidays.
CLASS POLICIES:
ASSIGNMENTS: Assignments are given covering exercises and problems located at the end of each
chapter. You learn the principles involved in each chapter by completing the assignments. Most failures in
this class can be attributed to the student’s failing to prepare the assignments BEFORE the classroom
discussion.
Learning takes place in your having attempted a solution before coming to class. It is not important
whether you arrived at the correct solution before the class discussion; only that you made some attempt at
the solution. Merely copying another student's homework or copying the solution from class discussion or
the solutions manual will NOT prepare you for the examinations.
Since there is a cumulative effect, in that each part is built on previous information, keeping current
through good study habits is essential to your success in this course and future accounting and other
college courses.
Success in any accounting course requires a substantial time commitment if the student wishes to
keep up with reading and homework assignments. Homework assignments may be collected, or
included as part of tests or quizzes. All homework assignments are due the class period after they are
assigned.
TESTS: Exam questions are taken from the material in the textbook, from the lecture, and from any
homework or assigned projects. The examination questions will require the application of the principles
learned in the courses rather than an exact duplication of the materials covered.
Test dates and material coverage will be announced well in advance. As a general rule, it is in the
student’s best interest to take each exam on the date and time announced with the rest of the class.
Make-up exams will be considered and arranged on a case-by-case basis, but only if the student has
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discussed the absence with the instructor in advance. If a student must be absent on the exam date, it is
the student’s responsibility to make appropriate advance arrangements with the instructor.
At the end of the term, the lowest exam score will be replaced with the equivalent of 90% of the
percentage earned on the final exam for that student.
QUIZZES: Several quizzes (both announced and unannounced) will be administered throughout the
term for a weighted total of 100 points. In calculating the final grade, the lowest quiz score will be
dropped. Make up quizzes will be administered on a case-by-case basis, at the discretion of the
instructor. Practice quizzes can be accessed via the textbook site at http://www.prenhall.com/harrison
according to the instructions in the overview given on the first day of class and also available under the
course documents tab on the Blackboard course site.
ATTENDANCE: Attendance will be taken for each and every class period. Since regular attendance is
essential for college success, students are expected to attend each class period for the entire time
scheduled. As a professional courtesy, it is important to communicate with your instructor regarding
your absence, preferably in advance. The State Fair Community College Policy regarding class
attendance is as follows:
1.
2.
3.
4.
5.
Students who accumulate more than SIX (MWF) or FOUR (T/TH or M/W) unexcused absences
may be dropped from the class by the instructor without advance notice. Tuition and fees refunds
for this administrative drop will only be made in accordance with the college refund policy. A
student may appeal this administrative drop, utilizing the academic appeal process, by first
contacting the instructor within five days of being notified of the administrative drop.
Students who stop attending class are not automatically dropped, however, and may receive a
grade of "F".
Should a student decide to withdraw from the class, the student will need to contact Student
Services for the proper paperwork. A grade of "W" will be assigned only through 5:00 P.M., April
11, 2006. After that, no withdrawals are allowed without assignment of the letter grade earned
for the course.
Students who miss class for any reason are responsible for making up missed course work. It is
the student’s responsibility to obtain class notes from a classmate. Students who have absences
due to student representation of the college in some official capacity such as athletic travel or due
to participation in a class or club sponsored activity will be allowed to make up course work upon
presentation of verifying evidence. It is the student’s responsibility to provide such evidence of
the missed class to the instructor.
Students who enroll late may have missed classes which may be treated as absences.
PLAGIARISM: Academic integrity will be vigorously defended. Any student who cheats, attempts to
cheat, or allows/assists another in cheating may be assigned a letter grade of "F" for the course. Please
note, plagiarism does not necessarily mean blatant cheating. Anytime you use another's ideas or work,
you must mention that person's contribution in your work. When a student fails to appropriately
safeguard his/her own work, this is a form of cheating as well.
CLASSROOM ETIQUETTE: Eating is not permitted in the classroom; however, water bottles with
sealable lids are allowed. Audible notification on pagers and cellular phones is prohibited.
Conversations or communications of any type on cellular phones are not allowed in this classroom. The
sharpening of pencils, receiving of cell phone calls or pager messages, discussions with the instructor
about your individual academic status, or any other activity outside the scope of the particular
classroom agenda are considered to be extracurricular. As such, those types of activities should not be
conducted during the time assigned for classroom instruction. Coming to class late or leaving early is
disruptive to the class. Please plan on doing your part to make the classroom experience as beneficial and
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productive as possible for the entire class. Come to class prepared and on time, and plan to participate for
the entire period.
SPECIAL NEEDS: If a student in class has need for special test taking, note taking, or other
accommodations, please feel free to come and discuss this with your instructor or contact the Student
Services office.
GRADING POLICY:
Each student will have the opportunity to earn points by completing the following work:
Homework, quizzes, participation
Test #1 (Chapters 1 - 2)
Test #2 (Chapters 3 - 4)
Test #3 (Chapters 5 - 6 and comprehensive review)
Test #4 (Chapters 7, 8, 9)
Comprehensive Final Exam (Chapters 1 –9, 12,
13)
Total points possible
Points
100
100
100
100
100
200
700
Grading Scale:
90-100% ................................................ A
80- 89%................................................. B
70- 79%................................................. C
60 -69% ................................................. D
Below 60% ........................................... F
Note: Your instructor reserves the right to lower, but not raise, the above grading scale.
Important Dates
Monday, January 15
MLK Day, Campus Closed
Monday, February 5 by 5:00 p.m.
Last Day to Change to Audit
Monday, February 19
Presidents’ Day, Campus Closed
March 5 – March 11
Spring Break, Campus Closed
Friday, April 6
Holiday, Campus Closed
Wednesday, April 11 by 5:00 p.m.
Last Day to Withdraw from course
Wednesday, May 9, 10:00 a.m.–11:50 a.m.
Final Exam for MWF (30001)
Thursday, May 10, 9:30 a.m.–11:20 a.m.
Final Exam for TR (30003)
Some Suggestions to Help You Succeed:
Start studying TODAY.
Attend class.
Be prepared for class each and every day.
Attempt the problems and exercises before they are discussed.
Complete the problems and exercises without consulting the textbook for
examples.
Participate in classroom discussion.
Do not memorize as a substitute for understanding.
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Make a friend from class.
Form a study group.
Be patient.
Your instructor is here to help you learn the material; however, the instructor cannot learn it
for you. Learning requires effort on your part, and the effort may need to be applied
disproportionately between two students.
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TENTATIVE CLASS SCHEDULE
Note: The following schedule is tentative and may be changed at the instructor’s discretion.
Introduction
Chapter 1
Chapter 2
The Financial Statements, page 2
P1-3A, P1-6A, P1-8A, pages 37-40; PQ (practice quiz), pages 34-35
Transaction Analysis, page 48
P2-6A, p.95; E2-3, p.84; PQ, pages 89-91
Test #1
Chapter 3
Chapter 4
Accrual Accounting, page 104
P3-5A, P3-8A, P3-9A, pages 157-160; PQ, pages153-156
Internal Control and Cash, page 172
P4-2A, P4-3A, P4-6A, P4-7A, pages 205-209; I/C Group Presentation
Test #2
Chapter 5
Chapter 6
Short–Term Investments and Receivables, page 216
P5-1A, P5-3A, P5-4A, P5-6A, P5-7A, pages 249-253
Merchandise Inventory and COGS including Appendix A, page 260
Omit Appendix B
P6-2A, P6-3A, P6-6A, P6-7A, P6-8A, P6-9A, pages 298-302
Cumulative Review of Chapters 1 – 4
Test #3
Chapter 7
Chapter 8
Chapter 9
Plant Assets, Natural Resources, and Intangibles, page 314
P7-1A, P7-6A, P7-7A, P7-8A, pages 351-355; PQ, pages 350-351
Current and Long-Term Liabilities, pages 362-371 only
P8-1A, P8-2A, page 406; P8-8A (presentation); PQ #1-7 and 19, p. 403
Stockholders’ Equity, page 416
P9-6A, P9-7A, P9-10A, pages 458 -460
Test #4
Chapter 12
Statement of Cash Flows (time permitting)
Chapter 13
Financial Statement Analysis (time permitting)
Review for Final Exam
Comprehensive Final
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