INSTRUCTOR:
OFFICE HOURS:
OFFICE PHONE:
E-MAIL:
CHICAGO STATE UNIVERSITY
COLLEGE OF BUSINESS
MASTER COURSE SYLLABUS
INTRODUCTION TO FINANCIAL ACCOUNTING – ACCT 2110
FALL 2009
OFFICE LOCATION:
DEPT. PHONE: 773-995-3979
DEPT. FAX: 773-995-2256
TEXTBOOK: FINANCIAL ACCOUNTING, SPICELAND, THOMAS and HERRMANN, McGraw-Hill/Irwin,
2009, ISBN 978-0-07-337933-3.
PRACTICE SET: GOLD RUN SNOWMOBILE, Richard Perry Edwards, Leland Mansuetti and Keith Weidkamp,
PKLSoftware Inc., a computerized online practice set. Students will have to go to pklsoftware.com to purchase a
registration code. The cost of the code is $19.95 and a credit card is necessary to complete your transaction. After
purchasing the code your instructor will provide further instructions on entering your registration code and a class
code.
Course Objective:
To provide the student with an understanding of basic accounting concepts and practices as they relate to a
corporation. Accounting for assets, liabilities, and stockholders’ equity; the preparation of financial statements,
journals, and ledgers; and principles as related to accruals and deferrals .
Class and Workshop Format:
The course is divided into two parts: class and a workshop. The class session will mainly be devoted to lecture and
discussion of the assigned readings and homework. Your workshop is in the same room as the class. The primary
emphasis during each workshop will be as follows:
Accounting Workshop
1) Each student is placed into smaller groups.
2) Each group will solve problems assigned in the workshop.
3) Each group will alternate in presenting the solution to the problem that has been assigned.
4) The workshop instructor will clarify any material and answer questions.
Grading:
Exam 1 - 3 (18 points each)
54%
Workshop
10%
Practice Set
10%
Final Exam (Comprehensive)
20%
Quizzes, Homework, Etc.
6%
------Total
100%
Attendance:
The importance of class attendance cannot be over-emphasized, especially taking into consideration the
complexities of the course material. Attendance to your class and workshop sessions is mandatory. It is important
that you come to class on time. Attendance will be taken at the start of your accounting and workshop classes. You
are expected to come prepared for class and to participate in the class discussion. You should bring your textbook,
paper for notes, calculator, homework, etc. to class. Active participation from you will be necessary to fully benefit
from this course.
It is the University’s policy that the instructor may drop students whose total absences are equal to or exceed the
equivalent of two weeks of instruction. However, if you decide to drop this course, it is your responsibility to
officially withdraw. Failure to do so will result in an automatic F grade at the end of the semester. The final date to
drop a class with a “W” grade is Wednesday, September 23, 2009. The final date for students to request
withdrawal with a “W/P” or “W/F” grade is Friday, November 13, 2009.
Examinations:
The decision to give a student a make-up exam is at the discretion of the instructor. There is no make-up for a
missed exam unless the student has informed the instructor of an emergency before the examination and the
instructor has agreed to give the student a make-up exam.
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How to Study For this Course:
It will be of the utmost value to you to complete and work all assignments diligently. Be sure to give yourself
sufficient time to prepare your homework assignments. It will take approximately 2-5 hours to prepare each
chapter’s homework assignment after you have read the chapter. Your homework should be prepared neatly.
Proper accounting format should be used, including headings, summation lines, double lines under totals, etc. The
time you take to understand and prepare your homework will have a big impact on how well you perform in the
course. Except for the first day of class, homework assignments must be prepared before you come to class. You
should try to go beyond the assigned exercises to get the full benefit of the course. Remember that learning
accounting requires studying illustrations in the text carefully, verifying each number, and even duplicating the
calculations on scratch paper.
To assess your understanding of the chapter material take the chapter review quiz located at the end of each chapter.
The answers are located at the end of the review quiz. In addition to completing your homework you should work
as many check points, exercises, and/or problems as possible. Once this has been done, you might try to summarize
the concepts or principles underlying the solution. This should be easy since the textbook emphasizes the learning
objectives, which denote and cross-reference each required accounting topic.
Learning Aids:
Homework Manager Plus: The publisher's online homework and assessment manager to help students get
accounting through the power of practice. Homework Manager features a fully integrated online study package
which can quickly and easily review the appropriate material in the interactive online textbook.mo Docs, instructor
videos and additional resources at the student's fingertips to aid in learning. The website address is
http://www.mhhe.com/.
CSU Blackboard course website:
Log on to the CSU course blackboard website at
http://csuonline.blackboard.com or from the CSU homepage http://www.csu.edu (click on CSU Online login).
Enter your CSU username. (If you do not have your CSU username, please ask your instructor for your CSU
username.) Your password is the last four digits of your social security number. Click on the course name. The
course syllabus is posted on the course website under Course Information. The instructor’s office hours are posted
in Staff Information. Located under Course Documents, in Student Learning Resources, are study aids: the
accounting cycle tutorial, practice assignments, the accounting pocket guide. Also located under Course Documents
under each chapter title are self-study quizzes (multiple choice, true-false, fill in the blanks and essay questions),
eWorking Papers, the chapter powerpoint slides and other learning aids.
Textbook website: The textbook website includes self-study quizzes, internet exercises, and other supplements.
The website address is http://www.mhhe.com/succeed . Click on the companion website for the textbook. You can
also access the textbook website by clicking on “External Links” located on the CSU course blackboard website.
Tutors: Tutors will be available during the semester in the Learning Resource Center – Douglas Hall 315. The
tutor hours will be announced in class and posted on the Announcement Board on the CSU course blackboard
website as soon as it becomes available.
Reasonable Accommodation:
Students with disabilities who require reasonable accommodation to fully participate in this course should notify the
instructor within the first two weeks of the semester. Such students must be registered with the Abilities Office of
Disabled Student Services located in SUB190 (773) 995-4401.
Final Examination:
The final examination is comprehensive and covers chapters 1-8 & 10-11. The exam will be given during the
scheduled time period for each class during the week of December 7, 2009. Please refer to the inside back cover of
the Class Schedule Bulletin for the final examination timetable.
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Student Academic Course Goals
1. The student will become proficient in accounting
techniques and knowledgeable of accounting theories as
they relate to business organizations, culminating in the
ability to prepare financial statements and communicate
financial information.
2.The student will develop decision-making skills using
accounting information, culminating in the ability to
evaluate financial statements and make decisions using
financial information
3. The student will develop individual and group
learning skills, culminating in the ability to respect self
and others in the group as valuable resources.
Assessment Instrument
Homework/Examinations/Practice Set
Homework/Quizzes
Accounting Workshop
Extra-Curricular Activity:
All students are encouraged to participate in extra-curricular activities in the college. This will give you the
opportunity to associate with professionals in your discipline, and also to acquire some valuable knowledge that is
not taught in the classroom.
OUTLINE OF MAJOR EDUCATIONAL OUTCOMES (COURSE CONTENT):
Upon completion of this course, the student should know the following:
Chapter 1: Accounting Information and Decision Making
1. Use accounting vocabulary.
2. Apply accounting concepts and principles to business situations.
3. Perform transaction analysis using the balance sheet equation.
Chapter 2: The Accounting Information System
1. Analyze business transactions.
2. Record business transactions.
3. Prepare a trial balance.
Chapter 3:
1.
2.
3.
4.
The Financial Reporting Process
Distinguish accrual-basis from cash-basis accounting.
Apply the revenue and matching principles.
Make adjusting entries at the end of the accounting period.
Make closing entries at the end of the accounting period.
Chapter 4: Cash and Internal Controls
1. Define the characteristics of an effective system of internal control.
2. Identify key controls over cash and prepare a bank reconciliation.
3. Make ethical judgments in business.
Chapter 5: Receivables and Sales
1. Contrast the direct write-off method and the allowance methods in the accounting for uncollectible
accounts.
2. Account for notes receivable.
Chapter 6: Inventory and Cost of Goods Sold
1. Account for inventory transactions.
2. Compute the cost of inventory of trade accounts, notes, and a perpetual inventory system using various
methods.
3. Estimate inventory using the gross profit method.
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OUTLINE OF MAJOR EDUCATIONAL OUTCOMES (COURSE CONTENT):
Chapter 7: Long-Term Assets
1. Determine the cost of plant assets, natural resources, and intangible assets.
2. Explain the purpose of depreciation, depletion, and amortization; illustrate methods of computing
them; and analyze the effects on the financial statements.
Chapter 8: Current Liabilities
1. Define and illustrate common types of known and estimated liabilities.
2. Report current liabilities on the balance sheet.
3. Record the employer journal entries for payroll to employees.
Chapter 10: Stockholders’ Equity
1. Explain the advantages and disadvantages of a corporation.
2. Account for the issuance of stock for cash and other assets.
3. Understand how treasury stock transactions affect a company.
4. Account for dividends and measure their impact on a company
Chapter 11: Statement of Cash Flows
1. Identify the components of the statement of cash flows.
Material to be covered:
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Week of
8/24/09
8/31/09
9/7/09
Labor Day Holiday
September 7, 2009
Chapter Topic
1, 2, 4, 6, 7, 8
2A & 4A
Ch 2 The Accounting
Information System
1, 2, 3, 4, 5, 6
1A & 5A
Ch 3 The Financial
Reporting Process
1, 2, 6, 7, 8, 14
4A & 7A
1, 2, 4, 5, 9, 11
2A
3A & 8A
Ch 3 (Continued)
9/21/09
Exam 1 (Chapter 1 – 3)
Ch 4 Cash and Internal
Controls
9/28/09
Ch 4 (Continued)
10/5/09
Ch 5 Receivables and
Sales
1, 2, 3, 4, 7, 11
10/12/09
Ch 6 Inventory and Cost
of Goods Sold
6-14, 6-15, 6-17, 6-20, 621, 6-22, 6-26
Practice Set: Students
should start working on
their practice set. The
practice set is due
Monday, November 23,
2009 (N0 EXCEPTIONS)
You can work on the
practice set with other
members of this class or
other ACCT 2110 classes
10/19/09
Ch 6 (Continued)
10/26/09
Exam 2 (Chapter 4, 5, 6)
Ch 7 Long-Term Assets
Week of
Prob.
Ch 1 Accounting
Information and Decision
Making
9/14/09
Last Date to Drop the
class Wednesday,
September 23, 2009
Exercises
1, 2, 3, 4, 6, 12
Chapter Topic
Exercises
5
51A
Your answers for each
week can be checked with
the Tutor, your instructor,
or other ACCT 2110
instructors
5A
Prob.
11/2/09
11/9/09
Ch 7 (Continued)
Ch 8 Current Liabilities
1, 2, 4, 7, 8, 11
3A
Ch 10 Stockholders’
Equity
1, 3, 4, 8, 9, 10
2A
Last Day to Request a
W/P or W/F - Friday,
November 13, 2009
11/16/09
Exam 3 (Chapters 7& 8)
Ch 10 (Continued)
11/23/09
Practice Set is Due
Monday, November 23,
2009 (N0 EXCEPTIONS)
Ch 11 Statement of Cash
Flows
Thanksgiving Holiday
(November 26 - 29)
11/30/09
Review
12/7/09
Final Exam
(Chapters 1-8 & 10-11)
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