COURSE SYLLABUS
ACCT 2123 Financial Accounting
Spring 2011 – 1st 8 week class
SCHOOL:
DEPARTMENT:
HOURS, CREDIT NUMBER/TITLE:
INSTRUCTOR:
School of Professional Studies
Division of Business (DOB)
3 Hours, ACCT 2123
Financial Accounting
1st 8 week Online Class Jan 10 to Mar 4, 2011
Dr. Kathy Goddard
Office Phone Number: (580) 213-3109
Office Number: Room 223-Enid
Office Hours: Posted
E-Mail: kmgoddard@nwosu.edu
Cell Phone: (580) 402-0107
EMAIL
The professor will use NWOSU email as the primary means of communicating with students,
Students are responsible for e-mail messages sent to their NWOSU email account; thus,
students are responsible to check their NWOSU email accounts. The professor will only
respond to emails sent from the student’s official NWOSU email account or Blackboard
and that identify the applicable class in the subject line or first sentence of the email.
Further, emails should be professional using proper spelling, grammar, style and format.
TEXTBOOK
Phillips F., Libby P., Libby R. 2011. Fundamentals of Financial Accounting 3rd Edition –
ISBN for Phillips packaged with Connect Plus for free 9780077398200.
COURSE DESCRIPTION AND PREREQUISITES
An introductory course in gathering, recording, and using financial data of a profit organization.
Prerequisites: None
DOB MISSION STATEMENT
The Division of Business provides a quality, student-centered learning environment to prepare students to
be competent, ethical business professionals, entrepreneurs and leaders in the regional workplace and in
the world. The division accomplishes this by offering quality education delivered by qualified, involved
faculty dedicated to improvement processes in order to prepare our alumni to contribute to the intellectual
and economic vitality of regional stakeholders and beyond.
DOB ETHICS STATEMENT
The Division of Business has adopted a Student Code of Ethics applicable to all students
majoring, minoring or taking courses offered by the Division of Business. The Student Code of Ethics
may be found online at: http://www.nwosu.edu/business-student-code-of-ethics. All students taking this
class are governed by this code of ethics. Likewise, the Division of Business has adopted a Faculty Code
of Ethics. The Faculty Code of Ethics can be found online at: http://www.nwosu.edu/business-facultycode-of-ethics. All Division of Business faculty are governed by this ethical code.
ACBSP Competencies/Standards:
The following ACBSP learning outcomes are addressed in this class:
ACBSP.2: Learning Outcomes Critical Thinking: Graduates of business programs identify problems,
analyze information, and form conclusions within the business context.
ACBSP.3: Learning Outcomes Business Knowledge and Technical Skills: Graduates of business
programs demonstrate knowledge from a variety of sub-disciplines and apply the knowledge and skills to
reach solutions to business needs.
Course Objectives/Subjects to be covered:
By the completion of ACCT 2123 Financial Accounting, a student should be able to:
1.
Create and describe the four basic financial statements: Balance Sheet, Income Statement,
Statement of Owner’s Equity, and Cash Flow Statement. (ACBSP 2)
Learning objectives:
1.1
Demonstrate an ability to make business decisions and financial accounting. (Ch 2)
1.2
Be able to report operating results on the income statement. (Ch 3)
1.3
Demonstrate an ability to make adjustments, generate financial statements, and state the
financial results. (Ch 4)
1.4
Demonstrate an ability to report and interpret the value of inventories and costs of goods
sold. (Ch 7)
1.5
Demonstrate an ability to report and interpret long-lived tangible and intangible assets
values. (Ch 9)
1.6
Demonstrate an ability to report and interpret stockholders’ equity. (Ch 11)
2.
Analyze the effects of business transactions on a firm’s assets, liabilities, and owner’s equity and
record these effects in the accounting equation form. (ACBSP 2)
Learning objectives:
2.1
Demonstrate an ability to report and interpret the value of inventories and costs of goods
sold. (Ch 7)
2.2
Demonstrate an ability to report and interpret the value of receivables, bad debt expense,
and interest revenue. (Ch 8)
2.3
Demonstrate an ability to report and interpret the value of the liabilities. (Ch 10)
2.4
Demonstrate an ability to generate and interpret the statement of cash flows. (Ch 12)
3.
Calculate basic accounting ratios (Debt: Asset, Quick ratio, Acid test, Inventory turnover,
Account Receivable turnover, Debt Equity, Return on Investment). (ACBSP 3)
Learning objectives:
3.1
Demonstrate an ability to generate financial reports and analysis the results. (Ch 5)
4.
Define, identify, and understand the relationship between assets, liability, and owner’s equity
accounts. (ACBSP 2)
Learning objectives:
4.1
Demonstrate an ability to make business decisions and the financial accounting
associated with the decision. (Ch 1)
5.
Construct a Cash-Flow statement from the Cash Account (direct method). (ACBSP 3)
Learning objectives:
5.1
Demonstrate an ability to make adjustments (indirect method), generate financial
statements, and interpret the financial results. (Ch 4)
6.
Demonstrate knowledge of the Accounting Equation.
(ACBSP 2)
Learning objectives:
6.1
Demonstrate an ability to make business decisions and report the financial results. (Ch 1)
7.
Compare and contrast the three types of business entities. (ACBSP 2)
Learning objectives:
7.1
Demonstrate an ability to make business decisions and report the financial results. (Ch 1)
PERFORMANCE ASSESSMENT
Grades will be assigned based on the following grading schedule:
EVALUATION AND GRADING
4 exams = 400 (100 pts ea.)
13 chapter quizzes = 65 points (5 pts ea.)
Discussion Boards = 100 points (25 pts per module)
Connect chapter assignments = 390 pts.
Participation = 45 points
900 - 1000 = A
800 - 899 = B
700 - 799 = C
600 - 699 = D
599 and Below = F
Exams: Four timed Blackboard online exams will be given during the course of the semester. The
exams, worth 100 points each, will consist of true/false, multiple choice, critical thinking problems and/or
essay questions. Your Final Exam must be proctored. Testing appointments must be made with the
testing centers at Alva, Enid, Woodward, Ponca City or at a local school or university near you. I
will send the password to the NWOSU testing sites, but you must have any other proctor email me
using their school email and stating when the final exam will be given. Worth 400 points total
Quizzes: Thirteen online quizzes will be completed and turned in online. The quizzes are worth 5 points
each and will assist you in identifying some of the important points of each chapter. These quizzes
should be completed after you have completed your entire chapter work. You may take each of them up
to 4 times, but you receive the points from the last time you take it. Worth 65 points total
Discussion Board: Four Discussion Board modules will be given during the course of the semester. The
modules, worth 25 points each, will consist of questions, discussions of these questions in each module
and a Discussion Board Quiz. Please refer to our Discussion Board rubric for additional grading details.
Worth 100 points total
Connect Chapter Assignments: Connect chapter assignments will be completed and turned in online in
the textbook Connect area. You will need to access these assignments and numerous other study tools for
these chapters by using your Connect Access code that came with your book. If you bought a book
without the Access Code, you may purchase one from the bookstore. The assignments will assist you in
understanding the important concepts of each chapter through various interactive assignments. These
assignments should be completed after you have read your entire chapter at least once. Worth 390 points
total
.
Blackboard Participation: If Blackboard statistics and your timeliness justify points, you will receive
up to 50 points. Please remember attendance and participation in Blackboard is expected at least 3
times a week. Worth 45 points total.
ADDITIONAL COURSE REQUIREMENTS
Academic integrity is vital. The professor has a zero
Academic Integrity:
tolerance policy regarding academic dishonesty. Any act of
dishonesty will be penalized severely.
The professor will use NWOSU BlackBoard
Communication:
announcements, discussion board and email as the primary
means of communicating with students. Students are
responsible for e-mail messages sent to their NWOSU
email account; thus, students should regularly check their
NWOSU email accounts.
Late Work:
NO LATE WORK WILL BE ACCEPTED IN THIS
CLASS.
Failure to take or turn in timely quizzes, Exams,
assignments and/or discussion boards will result in a zero
on that item.
Make-Up Policy:
NO MAKE-UP WORK WILL BE ACCEPTED IN
THIS CLASS.
Students should plan in advance so work is completed prior
to a scheduled absence. Likewise, students should complete
work far enough in advance that it is completed in case of
an unexpected event like a technology failure.
SERVICES FOR STUDENTS WITH DISABILITIES
Any student needing academic accommodations for a physical, mental or learning disability should
contact the Coordinator of Services for Students with Disabilities, or faculty member personally, within
the first two weeks of the semester so that appropriate accommodations may be arranged. The location for
ADA assistance is the Fine Arts building room 126 on the Alva Campus. The location for ADA
assistance on the Enid campus is Room 102 and the contact is Lori Coonrod. The location for ADA
assistance on the Woodward campus is the Main Office and the contact is Dr. Deena Fisher. The location
for ADA assistance at the University Center at Ponca City campus is the Main Office and the contact is
Dr. Brenda Stacy.
ONLINE CLASS ATTENDANCE
Responsibility for attending your online Blackboard class rests upon you the student. Attendance
and participation in Blackboard is expected at least 3 times a week.
Overview of Chapters to be Covered
Chapter 1 – Business Decisions and Financial Accounting
Chapter 2 – Reporting Investing and Financing Results on the Balance Sheet
Chapter 3 – Reporting Operating Results on the Income Statement
Chapter 4 – Adjustments, Financial Statements and Financial Results
Chapter 5 – Financial Reporting and Analysis
Chapter 6 – Internal Control and Financial Reporting for Cash and Merchandise Sales
Chapter 7 – Reporting and Interpreting Inventories and Cost of Goods Sold
Chapter 8 – Reporting and Interpreting Receivables, Bad Debt Expense, and Interest Revenue
Chapter 9 – Reporting and Interpreting Long-Lived Tangible and Intangible Assets
Chapter 10 – Reporting and Interpreting Liabilities
Chapter 11 – Reporting and Interpreting Stockholders’ Equity
Chapter 12 – Reporting and Interpreting the Statement of Cash Flows
Chapter 13 – Measuring and Evaluating Financial Performance
Jan 10
Jan 12
Jan 14
Jan 17
Jan 19 & 20
Jan 21
Jan 24
Jan 26
Jan 28
Jan 31 &
Feb 1
Feb 2
Feb 4
Feb 7
Feb 9
Feb 10 & 11
Feb 14
Feb 16
Feb 18
Feb 21
Feb 23
Feb 25
Feb 28
Mar 2
Mar 3 & 4
Course Schedule
Introduction & Chapter 1 – Business Decisions and Financial Accounting
- Discussion Board, Connect Assignments & Quiz
Chapter 2 – Reporting Investing and Financing Results on the Balance Sheet
- Discussion Board, Connect Assignments & Quiz
Chapter 3 – Reporting Operating Results on the Income Statement
- Discussion Board, Connect Assignments & Quiz
Martin Luther King
Timed Online Exam I - Ch 1, 2 & 3 (Finish module 1 Discussion Board, Connect and
Quiz before you take this exam)
Chapter 4 – Adjustments, Financial Statements and Financial Results
- Discussion Board, Connect Assignments & Quiz
Catch-Up Day
Chapter 5 – Financial Reporting and Analysis
- Discussion Board, Connect Assignments & Quiz
Chapter 6 – Internal Control and Financial Reporting for Cash and Merchandise Sales
- Discussion Board, Connect Assignments & Quiz
Timed Online Exam II – Ch 4, 5 & 6 (Finish module 2 Discussion Board, Connect
and Quiz before you take this exam)
Chapter 7 – Reporting and Interpreting Inventories and Cost of Goods Sold
- Discussion Board, Connect Assignments & Quiz
Chapter 8 – Reporting and Interpreting Receivables, Bad Debt Expense, and Interest
Revenue
- Discussion Board, Connect Assignments & Quiz
Chapter 9 – Reporting and Interpreting Long-Lived Tangible and Intangible Assets
- Discussion Board, Connect Assignments & Quiz
Catch-Up Day
Timed Online Exam III Ch 7, 8 & 9 (Finish module 3 Discussion Board, Connect
and Quiz before you take this exam)
Chapter 10 – Reporting and Interpreting Liabilities
- Discussion Board, Connect Assignments & Quiz
Catch-Up Day
Chapter 11 – Reporting and Interpreting Stockholders’ Equity
- Discussion Board, Connect Assignments & Quiz
Catch-Up Day
Chapter 12 – Reporting and Interpreting the Statement of Cash Flows
- Discussion Board, Connect Assignments & Quiz
Catch-Up Day
Chapter 13 – Measuring and Evaluating Financial Performance
- Discussion Board, Connect Assignments & Quiz
Catch-Up Day
Timed Online Final Proctored Exam IV - Ch 10, 11, 12 & 13 (Finish module 4
Discussion Board, Connect and Quiz before you take this exam)