ACCT 2301: Principles of Accounting I - Financial
Spring 2016
Danielle Stanley, CPA
COURSE INFORMATION
Synonym:
Lecture:
Room:
Lab:
Room:
44730
Tuesdays, 5:40 PM – 8:20 PM
Pinnacle 303
Mondays, 8:30 PM – 9:25 PM
Pinnacle 309
INSTRUCTOR INFORMATION
Office hours:
Tuesdays, 4:40 PM – 5:40 PM
Additional times available by appointment
Location:
Pinnacle 404
Phone:
223-1790, mailbox 25554
Email:
dstanley@austincc.edu
Web site:
http://www.austincc.edu/dstanley/
Blackboard site:
http://acconline.austincc.edu
COURSE DESCRIPTION:
This course is an introduction to financial accounting concepts and the communication of financial information to
external users. It examines the accounting process, transaction analysis, asset and equity accounting, financial statement
preparation and analysis, and related topics.
Principles of Accounting I – Financial is a 3-credit hour course. The course consists of 3 lecture hours and 1 lab hour per
week (during the 16 week semester). Attendance in lab is required.
COURSE PREREQUISITES:
 Before enrolling in ACCT 2301, it is advisable to 1) have taken the equivalent of ACCT 1403 or BUSI 1301; 2) have
recently taken high school bookkeeping; or 3) have acquired relevant work experience. Although not required, the
equivalent of MATH 1324 provides a good foundation for ACCT 2301.
 Basic computer skills utilizing word processing, spreadsheet (Excel), and presentation (Power Point) software are
recommended for all accounting courses. If you have any questions, consult with an accounting advisor.
CPA AND TRANSFER CREDIT:
 To become a CPA in Texas, you must have a minimum of a bachelor’s degree that includes 150 hours of college credit,
36 hours of accounting, an approved 3 hour accounting ethics course and 24 hours of business. Passage of the
uniform CPA exam and appropriate supervision by a CPA are also required.
 Principles of Accounting I - Financial generally transfers to four-year colleges and universities. The equivalent at UT
is ACC 311, TSU it is ACC 2361, and TAMU ACCT 229.
 The second accounting course required for business majors is ACCT 2302 – Principles of Accounting II – Managerial.
A grade of C or better in ACCT 2301 is a prerequisite for ACCT 2302.
REQUIRED TEXTS:
Corporate Financial Accounting, 13th ed., Reeve, Warren, Duchac, ISBN: 9781305776128

If you prefer a hard copy of a text, then this custom, shrink wrapped, loose-leaf book can only be purchased through
the local Austin bookstores, specifically at the ACC Bookstore or directly from the publisher. The shrink-wrapped
package includes the text, the access code for Cengage Now (“CNow”), which is the required interactive homework
system and also includes access to the eBook of the text.

If the text is acquired separately, each student must still purchase access to CNow. Please note: While the text may be
available used, the access codes cannot be sold “used”. They won’t work. As a result, buying a used text and a new
access code separately is usually the most expensive option.

If you are comfortable with using an e-Book, the least expensive option is to buy access to CNow, which comes with
the e-Book. A link to purchase access to CNow and the eBook, specific to ACC, is available through Blackboard.
SCANS (Secretary’s Commission on Achieving Necessary Skills) COMPETENCIES:
Please go to http://irt.austincc.edu/ids/curriculum/scans.php for complete definitions and explanation of SCANS. This
list summarizes the SCANS competencies addressed in this particular course.
1.
Student exhibits responsibility: Exerts a high level of effort and perseverance toward goal attainment, works hard to
become excellent at doing tasks by setting high standards, paying attention to details, working well and displaying a
high level of concentration even when assigned an unpleasant task; and displays high standards of attendance,
punctuality, enthusiasm, vitality and optimism in approaching and completing tasks.
2. Student acquires information: Identifies need for data, obtains them from existing sources or creates them, and
evaluates their relevance and accuracy. Competently performing the tasks for acquiring data and evaluating
information includes posing analytical questions to determine specific information needs, selecting possible
information and evaluating its appropriateness, and determining when new information must be created.
3. Student communicates information: Selects and analyzes information and communicates the result to others using
oral, written, graphic, pictorial, or multi-media methods. Competently performing the tasks of communicating and
interpreting information to others includes determining information to be communicated, identifying the best
methods to present information (i.e. overheads, handouts, etc.), and if necessary, converting to desired format and
conveying information to others through a variety of means including oral presentation and written communication.
INSTRUCTIONAL METHODOLOGY:
The objectives of this course will be met by incorporating a variety of instructional methods. These may include lecture,
class exams and quizzes, group activities and projects, student presentations, class problem-solving, written analysis,
spreadsheet, word processing and power point activities, the use of accounting software and online activities and
research.
COURSE RATIONALE:
The goals and objectives of this course is to help students (1) complete degree requirements; (2) obtain or improve job
skills; (3) qualify for a business or accounting job; (4) become an entrepreneur; (5) fulfill personal goals; and/or (6)
understand financial statements and the basic accounting process.
COURSE OBJECTIVE:
Upon completion of this course, the student will be able to “read” the financial statements of companies and understand
information that is being conveyed.
COMMON COURSE LEARNING OBJECTIVES/OUTCOMES:
Please refer to http://www.austincc.edu/accting/. The learning objectives/outcomes will be evaluated through the
department designed mid-term and end of semester assessments. More information about the assessments are available
under Course Policies.
CLASSROOM AND STUDENT POLICIES:
Attendance: Regular and punctual class attendance is expected of all students. If attendance or compliance with other
course policies is unsatisfactory, the instructor may withdraw students from the class. Since the exams are a reflection of
the material covered in class and the assigned homework and lab problems, it is to your advantage to attend.
Austin Community College does not have an established attendance policy. The Business Studies Area has determined
that absences in excess of 10 percent of the scheduled class periods are the basis for an instructor to withdraw a student
from class. Applying this percentage to a class that meets only once a week does not allow much room for absences. I
will try to be understanding and flexible, but will not be taken advantage of with regards to this policy. While I may
withdraw a student for excessive absences, I have no obligation to do so.
If you have a conflict that prohibits your attendance and/or preparation for class, please discuss them with either a
counselor or me.
Incomplete: An instructor may award a grade of “I” (incomplete) if a student was unable to complete all of the
objectives for the passing grade in a course. An “I” cannot be carried beyond the established date in the following
semester. The completion date is determined by the instructor but may not be later than the final deadline for withdrawal
in the subsequent semester.
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It is the Accounting department’s policy that incomplete grades are given only on rare occasions and generally, only when
a student has completed all examinations and assignments to date, with a satisfactory grade of C or better, and has
personal circumstances that prevent course completion that occur after the deadline to withdraw.
Withdrawal: It is the responsibility of each student to ensure that his or her name is removed from the roll should he
or she decide to withdraw from the class. The instructor does, however, reserve the right to drop a student should he or
she feel it is necessary. If a student decides to withdraw, he or she should also verify that the withdrawal is submitted
before the final withdrawal date. The student is also strongly encouraged to retain their copy of the withdrawal form for
their records. Please note, November 19, 2015 is the last day to withdraw from this class and receive a grade of “W”.
Students who enroll for the third or subsequent time in a course taken since the Fall semester of 2002, may be charged a
higher tuition rate for that course. State law permits students to withdraw from no more than six courses during their
entire undergraduate career at Texas public colleges or universities. With certain exceptions, all course withdrawals
automatically count towards this limit. Details regarding this policy can be found in the ACC college catalog.
Scholastic Dishonesty: A student attending ACC assumes responsibility for conduct compatible with the mission of
the college as an educational institution. Students have the responsibility to submit coursework that is the result of their
own thought, research, or self-expression. Students must follow all instructions given by faculty or designated college
representatives when taking examinations, placement assessments, tests, quizzes, and evaluations. Actions constituting
scholastic dishonesty include, but are not limited to, plagiarism, cheating, fabrication, collusion, and falsifying
documents. Penalties for scholastic dishonesty will depend upon the nature of the violation and may range from lowering
a grade on one assignment to an “F” in the course and/or expulsion from the college. See the Student Standards of
Conduct and Disciplinary Process and other policies at http://www.austincc.edu/current/needtoknow.
Student Rights and Responsibilities (Academic Freedom Statement): Students at the college have the rights
accorded by the U.S. Constitution to freedom of speech, peaceful assembly, petition, and association. These rights carry
with them the responsibility to accord the same rights to others in the college community and not to interfere with or
disrupt the educational process. Opportunity for students to examine and question pertinent data and assumptions of a
given discipline, guided by the evidence of scholarly research, is appropriate in a learning environment. This concept is
accompanied by an equally demanding concept of responsibility on the part of the student. As willing partners in
learning, students must comply with college rules and procedures.
Students With Disabilities Statement: Each ACC campus offers support services for students with documented
disabilities. Students with disabilities who need classroom, academic or other accommodations must request them
through the Office for Student Accessibility Services (SAS). Students are encouraged to request accommodations when
they register for courses or at least three weeks before the start of the semester, otherwise the provision of
accommodations may be delayed.
Students who have received approval for accommodations for this course must provide the instructor with the ‘Notice of
Approved Accommodations’ at the beginning of the semester to allow for a reasonable amount of time to prepare and
arrange for the accommodations. Arrangements for academic accommodations can only be made after the instructor
receives the ‘Notice of Approved Accommodations’ from the student.
Additional information about the Student Accessibility Services is available at http://www.austincc.edu/sas.
Safety Statement: Austin Community College is committed to providing a safe and healthy environment for study and
work. You are expected to learn and comply with ACC environmental, health and safety procedures and agree to follow
ACC safety policies. Additional information on these can be found at http://www.austincc.edu/ehs. Because some health
and safety circumstances are beyond our control, we ask that you become familiar with the Emergency Procedures poster
and Campus Safety Plan map in each classroom. Additional information about emergency procedures and how to sign up
for ACC Emergency Alerts to be notified in the event of a serious emergency can be found at
http://www.austincc.edu/emergency/.
Please note: you are expected to conduct yourself professionally with respect and courtesy to all. Anyone who
thoughtlessly or intentionally jeopardizes the health or safety of another individual will be dismissed from the day’s
activity, may be withdrawn from the class, and/or barred from attending future activities.
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Use of ACC Email: All College e-mail communication to students will be sent solely to the student’s ACCmail account,
with the expectation that such communications will be read in a timely fashion. ACC will send important information and
will notify you of any college related emergencies using this account. Students should only expect to receive email
communication from their instructor using this account. Likewise, students should use their ACCmail account when
communicating with instructors and staff. Instructions for activating an ACCmail account can be found at
http://www.austincc.edu/accmail/.
Student and Instructional Services: ACC strives to provide exemplary support to its students and offers a broad
variety of opportunities and services. Information on these services and support systems is available at:
http://www.austincc.edu/support
Links to many student services and other information can be found at: http://www.austincc.edu/current/
ACC Learning Labs provide free tutoring services to all ACC students currently enrolled in the course to be tutored. The
tutor schedule for each Learning Lab may be found at: http://www.austincc.edu/tutor.
For help setting up your ACCeID, ACC Gmail, or ACC Blackboard, see a Learning Lab Technician at any ACC Learning
Lab.
Testing Center Policy: Under certain circumstances, an instructor may have students take an examination in a testing
center. Students using the Academic Testing Center must govern themselves according to the Student Guide for Use of
ACC Testing Centers and should read the entire guide before going to take the exam. To request an exam, one must have:
 ACC Photo ID
 Course Abbreviation: ACCT
 Course Number: 2301
 Course Synonym: 44730
 Course Section: 014
 Instructor's Name: Danielle Stanley
Do NOT bring cell phones to the Testing Center. Having your cell phone in the testing room, regardless of whether it
is on or off, will revoke your testing privileges for the remainder of the semester. ACC Testing Center policies can be
found at http://www.austincc.edu/testctr.
COURSE EVALUATION/GRADING SYSTEM:
Activity
Exams and Quizzes (Proctored)
Lab Activities
Comprehensive Problems
Homework
Other Class Activities
TOTAL
Points
520
80
80
84
36
800
Percent
65%
10%
10%
10.5%
4.5%
100%
Final Grade Basis
Points
Grade
720 – 800
A
640 – 719
B
560 – 639
C
480 – 559
D
Below 479
F
COURSE POLICIES
Blackboard: I maintain a Blackboard site for this class. You will be able to log onto the Blackboard site
http://www.austincc.edu/ to gain access to:
 Course announcements
 Syllabus
 Link to CNow (where the interactive homework assignments are located)
 Grade book
Your user name for Blackboard is your ACC eID. This is your 7-digit ACC student ID, preceded by the first initial of your
official first name. During the activation of your ACC eID, you will select your password. If you do not know your ACC
eID, you may retrieve it via the Blackboard home page.
To use Blackboard, you do not have to have Internet access at home. Blackboard access is available through any ACC
computer.
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Exams: There will be four exams, as listed on the Detailed Course Outline/Calendar. Do not miss exams. The exams
will be a combination of multiple choice and problems. The exams are in-class, closed book exams. If you must miss an
exam, you must contact me before the start of class by email or phone. Make-up exams will be given at my discretion at
the Pinnacle Testing Center. You will have until the start of the next class period to complete the exam. If a make-up
exam is arranged for a date subsequent to the date the exam was administered to the class, no class curve (if given) will
be added to the exam. Only one make-up exam is allowed during the semester.
Mid-Term and End-of-Semester Assessments: There will be two assessments of course concepts, one
administered with the mid-term exam and one administered with the last exam of the semester. These two assessments
have been designed by the Accounting Department for use by all ACCT 2301 sections and must be taken during the
designated times. They are intended to assess the overall mastery of the following seven core concepts:
1. Prepare a multiple-step income statement, classified balance sheet and statement of earnings.
2. Analyze and record the effects of common business transactions.
3. Prepare adjusting entries.
4. Describe the role of closing entries.
5. Apply elements of the conceptual framework to accounting issues.
6. Explain the components of the statement of cash flows.
7. Understand the relationship between financial components.
Lab Activities: Attendance at lab is required. Lab activities consist of graded assignments and are worth 80 points,
which is 10% of your total grade. You should consider the assignments as open book quizzes which must be completed in
the 50 minutes of lab. This means you must come prepared to work the assigned problems on your own – the labs are
not assigned as group activities. Lab assignments are required to be completed electronically (not handwritten) and are
due at the end of each lab. There is no make-up for missed labs; however, one late lab will be accepted during the
semester. Late labs must be turned in (or emailed) before the start of the next class period to be accepted.
Comprehensive Problems: Two comprehensive problems will be assigned during the semester. Specific instructions
for each will be provided in class. The problems are worth a combined 10% of your total grade.
Pre-Homework and Homework Assignments: Homework is a critical part of any accounting course. Important
accounting concepts cannot be fully understood until you work the problems. Since it is worth 10.5% of the final grade,
failure to complete homework will affect the final grade a student receives.
Pre-homework and homework assignments must be completed using CengageNow (CNow), an on-line interactive
homework system. The CNow software will grade your homework and provide immediate feedback to you. Late prehomework and homework assignments will not be accepted; however, a total of 96 points from pre-homework and
homework assignments is available during the semester. This allows extra credit for students who complete all prehomework and homework assignments. Twelve (12) points can be missed before it affects a student’s grade. You can
register for CNow and access the CNow homework/pre-homework assignments through my Blackboard site.
Please note that the pre-homework assignments are assigned prior to the lecture covering the chapter. The prehomework assignments must be completed or you will not be able to attempt the regularly assigned homework. Prehomework and homework assignments are due by 5:40pm on the scheduled due dates.
Class Activities and Quizzes: Your attendance is expected at all classes. Since the exams are a reflection of the
material covered in class and the assigned homework and lab problems, it is to your advantage to attend. In-class
activities and quizzes will be given to provide a chance to demonstrate knowledge gained through completion of
homework and required reading assignments. There is no make-up for missed in-class activities. Only one make-up
quiz will be granted during the semester.
Tutoring: Accounting tutors are available in the Learning Labs at most of the campuses. They have proven to be a
valuable resource for students. Go to http://www.austincc.edu/accting/tutors.php for information about tutoring
availability in the Learning Labs.
Technology Policy: Due to the disruptive nature of cell phone calls and texting, I do not permit any cell phone usage
or text messaging during my lecture or lab. If you use your cell phone during lecture or lab, you will be asked to leave for
the remaining class time. Additionally, I do not permit laptops, tablets, programmable calculators, e-cigarettes, iPods or
similar devices to be used during my lecture or lab.
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ACCT 2301: Principles of Accounting I - Financial
Spring 2016
Danielle Stanley, CPA
DETAILED COURSE OUTLINE / CALENDAR
Please note: This schedule is subject to change due to the pace of the class.
Class Cov erage
Assignm ents
Class Introduction
Lecture - Ch 1
Reading - Ch 1
Homework - Ch 1 (CNow)
Reading - Ch 2
Pre-Homework - Ch 2 (CNow)
In-Class Group A ctiv ity - Ch 1
Rev iew - Comprehensiv e Problem
Lab - Ch 1
Homework - Ch 2 (CNow)
Reading - Ch 3
Pre-Homework - Ch 3 (CNow)
In-Class Group A ctiv ity - Ch 2
Rev iew - A nnual Report Project Pt. 1
Lab - Ch 2
Homework - Ch 3 (CNow)
Reading - Ch 4
Pre-Homework - Ch 4 (CNow)
In-Class Group A ctiv ity - Ch 3
Homework - Ch 4 (CNow)
Du e
Date
26-Jan
24-Jan
26-Jan
26-Jan
26-Jan
1 6-Feb
26-Jan
31 -Jan
2-Feb
2-Feb
2-Feb
8-Mar
2-Feb
7 -Feb
9-Feb
9-Feb
9-Feb
1 4-Feb
In-Class Indiv idual Quiz - Ch 4
Lab - Ch 4
Study for Ex am 1 (Ch 1 -4)
Reading - Ch 5
Pre-Homework - Ch 5 (CNow)
Homework - Ch 5 (CNow)
Reading - Ch 6
Pre-Homework - Ch 6 (CNow)
In-Class Group A ctiv ity - Ch 5
Lab - Ch 5
Homework - Ch 6 (CNow)
Reading - Ch 7
Pre-Homework Ch 7 (CNow)
In-Class Indiv idual Quiz - Ch 6
Lab - Ch 7
Homework - Ch 7 (CNow)
Study for Ex am 2 (Ch 5-7 )
Study for Mid-Term A ssessment
Reading - Ch 8
Pre-Homework - Ch 8 (CNow)
1 6-Feb
1 6-Feb
23-Feb
23-Feb
23-Feb
28-Feb
1 -Mar
1 -Mar
1 -Mar
1 -Mar
6-Mar
8-Mar
8-Mar
8-Mar
8-Mar
20-Mar
22-Mar
22-Mar
22-Mar
22-Mar
20
8
1 00
2
5
2
6
8
5
2
20
8
5
1 00
20
2
Homework - Ch 8 (CNow)
Reading - Ch 9
Pre-Homework - Ch 9 (CNow)
27 -Mar
29-Mar
29-Mar
5
2
Week
Date
1
19-Jan
2
26-Jan In-Class Group A ctiv ity - Ch 1
Lecture - Ch 2
Comprehensiv e Problem - Intro
Lab - Ch 1
3
2-Feb
In-Class Group A ctiv ity - Ch 2
Lecture - Ch 3
Comprehensiv e Problem - Rev iew
A nnual Report Project - Intro
Lab - Ch 2
4
9-Feb
5
16-Feb
In-Class Group A ctiv ity - Ch 3
Lecture - Ch 4
Comprehensiv e Problem - Rev iew
A nnual Report Project - Groups
In-Class Indiv idual Quiz - Ch 4
Rev iew for Ex am 1
A nnual Report Project - Companies
Lab - Ch 4
6
23-Feb Ex am 1 (Ch 1-4)
Lecture - Ch 5
7
1-Mar
In-Class Group A ctiv ity - Ch 5
Lecture - Ch 6
A nnual Report Project - Rev iew
Lab - Ch 5
8
8-Mar
In-Class Indiv idual Quiz - Ch 6
Lecture - Ch 7
Rev iew for Ex am 2
Lab - Ch 7
8
15 -Mar SPRI NG BREAK
22-Mar Ex am 2 (Ch 5 -7 )
Mid-T erm Assessm ent
Lecture - Ch 8
6
Points
5
2
0
40
8
5
2
6
15
8
5
2
6
5
Done
Week
10
Date
Class Cov erage
29-Mar In-Class Group A ctiv ity - Ch 8
Lecture - Ch 9
Lab - Ch 8
11
5 -Apr
12
12-Apr Ex am 3 (Ch 8-10)
Lecture - Ch 1 5
A nnual Report Project - Rev iew
19-Apr In-Class Group A ctiv ity - Ch 1 5
Lecture - Ch 1 1
A nnual Report Project - Rev iew
Lab - Ch 1 5
13
In-Class Indiv idual Quiz - Ch 9
Lecture - Ch 1 0
A nnual Report Project - Rev iew
Rev iew for Ex am 3
Lab - Ch 9
14
26-Apr In-Class Group A ctiv ity - Ch 1 1
Lecture - Ch 1 2
Lab - Ch 1 1
15
3-May
16
In-Class Indiv idual Quiz - Ch 1 2
Lecture - Ch 1 4
Rev iew for Ex am 4
Lab - Ch 1 2
Assignm ents
In-Class Group A ctiv ity - Ch 8
Lab - Ch 8
Homework - Ch 9 (CNow)
Reading - Ch 1 0
Pre-Homework - Ch 1 0 (CNow)
In-Class Indiv idual Quiz - Ch 9
Lab - Ch 9
Rev iew - A nnual Report Project Pt. 2
Homework - Ch 1 0 (CNow)
Study for Ex am 3 (Ch 8-1 0)
Reading - Ch 1 5
Pre-Homework - Ch 1 5 (CNow)
Homework Ch 1 5 (CNow)
Reading - Ch 1 1
Pre-Homework - Ch 1 1 (CNow)
In-Class Group A ctiv ity - Ch 1 5
Lab - Ch 1 5
Homework - Ch 1 1 (CNow)
Reading - Ch 1 2
Pre-Homework - Ch 1 2 (CNow)
In-Class Group A ctiv ity - Ch 1 1
Lab - Ch 1 1
Homework - Ch 1 2 (CNow)
Reading - Ch 1 4
Pre-Homework - Ch 1 4 (CNow)
In-Class Indiv idual Quiz - Ch 1 2
Lab - Ch 1 2
Homework - Ch 1 4 (CNow)
Study for Ex am 4 (Ch 1 1 -1 2, 1 4-1 5)
Study for Final A ssessment
Due
Date
29-Mar
29-Mar
3-A pr
5-A pr
5-A pr
5-A pr
5-A pr
26-A pr
1 0-A pr
1 2-A pr
1 2-A pr
1 2-A pr
1 7 -A pr
1 9-A pr
1 9-A pr
1 9-A pr
1 9-A pr
24-A pr
26-A pr
26-A pr
26-A pr
26-A pr
1 -May
3-May
3-May
3-May
3-May
8-May
1 0-May
1 0-May
Points
Done
6
8
5
2
20
8
25
5
1 00
2
5
2
6
8
5
2
6
8
5
2
20
8
5
1 00
20
10-May Ex am 4 (Ch 11-12, 14-15 )
End-of-Sem ester Assessm ent
T otal Points Av ailable (see Note 2, below)
812
**
Note 1 – The Practice Exercises included in CNow are optional exercises. They remain available in CNow until the
scheduled time of the test for which the questions cover. They are offered to provide additional review in advance of
the test. No extra credit will be given for completing them.
**
Note 2 – Per the syllabus, “Homework” accounts for 84 points of the 800 total points available. There are, however,
96 points in the above-detailed syllabus for the CNow pre-homework and homework assignments. This allows (12
points) extra credit for students who attempt all CNow pre-homework and homework assignments.
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