FLORIDA STATE COLLEGE AT JACKSONVILLE
COLLEGE CREDIT COURSE OUTLINE
COURSE NUMBER:
ACG 2021
COURSE TITLE:
Financial Accounting
PREREQUISITE(S):
None
COREQUISITE(S):
None
CREDIT HOURS:
3
CONTACT HOURS/WEEK:
3
CONTACT HOUR BREAKDOWN:
Lecture/Discussion:
3
Laboratory:
Other ____________:
FACULTY WORKLOAD POINTS:
3
STANDARDIZED CLASS SIZE
ALLOCATION:
35
CATALOG COURSE DESCRIPTION:
This course is an introduction to financial accounting that specializes in the processes and principles used to
prepare financial statements. This course will focus on the purpose and content of the four basic financial
statements including the preparation of these statements as well as interpreting information for decisionmaking.
SUGGESTED TEXT(S):
Financial Accounting, Kemp and Waybright, Pearson
Publishers, Latest Edition.
Financial Accounting, Kimmel, Weygandt, and Kieso, Wiley
Publishers, Latest Edition.
Financial Accounting, Wild, McGraw-Hill Irwin Publishers,
Latest Edition.
Financial Accounting Fundamentals, Wild, McGraw-Hill,
Latest Edition.
1
IMPLEMENTATION DATE:
Fall Term, 1996 (971)
REVIEW OR MODIFICATION DATE:
Fall Term, 2002 (20031)
Spring Term, 2006 (20062)
Fall Term, 2008 (20091) – Outline review 2007
Fall Term, 2014 (20151) – Proposal 2013-39
Fall Term, 2015 (20161) – Proposal 2014-80
Fall Term, 2015 (20161) – Outline Review 14-15
2
COURSE TOPICS
I.
The Accounting Model
A.
The Purpose and Nature of Accounting
(3)
1.
History
2.
Users and Uses
3.
Forms of business ownership
Principles and Concepts – GAAP
(3)
1.
Where they come from (Authoritative sources)
2.
What they are (financial accounting and reporting
conceptual framework)
The Accounting Cycle
(9)
1.
Transaction analysis
2.
Adjusting process
3.
Financial statements
a.
Preparation
b.
Reporting requirements
4.
Closing process
B.
C.
II.
CONTACT HOURS
__PER TOPIC__
15
Accounting for Assets
12
A.
B.
C.
D.
Cash
(3)
1.
Management and reporting
2.
Bank reconciliation
3.
Internal control
Receivables
(3)
1.
Accounts
a.
Credit sales
b.
Uncollectible accounts
2.
Notes
a.
Computing interest
b.
Determining Maturity Value
3.
Bank debit/credit cards/electronic banking
Inventories
(3)
1.
Perpetual/periodic systems
2.
Costing methods
3.
Estimating methods
4.
Error analysis
5.
Ownership issues (Transportation Terms and Consignments)
Operational assets
(3)
1.
Types -Property-Plant & Equipment, Natural resources and Intangibles
2.
Life Cycle
a.
Acquisition
b.
Use
1. Capital vs. Revenue Expenditures
2. Depreciation Methods
c.
Disposition
3
COURSE TOPICS (continued)
III.
Accounting for liabilities
A.
Current liabilities
(3)
1.
Accounts
2.
Notes
3.
Estimated - Warranties
4.
Contingent
5.
Payroll
a.
Computations (Gross/Deductions/Net) Pay
b.
Taxes (employer and employee)
Long-term Liabilities
(3)
1.
Bonds
a.
Characteristics and terminology
b.
Issuance
c.
Interest rates (stated/contract and market/effective)
d.
Amortization Discount/Premium
(Straight-line and Effective-interest)
2.
Time Value of Money
B.
IV.
Corporate Accounting issues
A.
B.
C.
D.
E.
Formation
Contributed Capital
Cash/Stock dividend distributions and splits
Corporate financial statements
Treasury stock
V
Additional topics
A.
B.
C.
D.
CONTACT HOURS
__PER TOPIC__
6
3
9
Statement of Cash Flows
Financial Statement Analysis
Computer Spreadsheets
Ethics
4
PROGRAM TITLE:
Accounting Technology
COURSE TITLE:
Financial Accounting
CIP NUMBER:
1552030200
Program Frameworks can be found at the following website: http://www.fldoe.org/workforce/dwdframe/
5
Florida State College at Jacksonville
Course Learning Outcomes and Assessment
SECTION 1
Semester Credit Hours (Credit):
Contact Hours (Workforce):
Course Prefix and Number:
ACG 2021
Course Title:
Financial Accounting
3
SECTION 2a (To be completed for General Education courses only.)
TYPE OF COURSE (Place an “X” in the box next to those that are applicable.)
General Education Core (If selected, core discipline area will be identified in Section 4.)
General Education (If selected, you must also complete Section 4, Section 5, and Section 8)
SECTION 2b
TYPE OF COURSE (Place an “X” in the box next to those that are applicable.)
X A.A. Elective
X A.S. Required Course
A.S. Professional Elective
A.A.S. Required Course
A.A.S. Professional Elective
X Technical Certificate
PSAV/Clock Hour/Workforce
Development Education
Apprenticeship
Upper Division/Bachelors
Other:
If selected, use this space to title “other” option.
SECTION 3
INTELLECTUAL COMPETENCIES (Place an “X” in the box next to those that are applicable.)
X
Reading
Speaking
X
Critical Analysis
X
Qualitative Skills
X
Writing
Listening
X
Information
Literacy
X
Ethical Judgement
Scientific Method of
Inquiry
Working
Collaboratively
SECTION 4 (To be completed for General Education courses only.)
GENERAL EDUCATION DISCIPLINE AREA (Place an “X” in the box next to those that are applicable.)
Communications
Humanities
Mathematics
Social and Behavioral Sciences
Natural Sciences
SECTION 5 (To be completed for General Education courses only.)
GENERAL EDUCATION LEARNING OUTCOME AREA (Place an “X” in the box next to those that are applicable.)
Communication
Critical Thinking
Information Literacy
Scientific and Quantitative Reasoning
Global Sociocultural Responsibility
SECTION 6
LEARNING OUTCOMES
TYPE OF OUTCOME
(General Education,
Course or Program)
Analyze business transactions for an entire
accounting period for both service and
merchandise businesses, applying proper
debit and credit rules.
Course
Apply the accrual basis of accounting using
general accepted accounting principles.
Course
Prepare the four basic financial statements.
Course
METHOD OF ASSESSMENT
Discussions, assignments, projects, quizzes
or exams
Discussions, assignments, projects, quizzes
or exams
Discussions, assignments, projects, quizzes
or exams
6
SECTION 6 (Continued)
LEARNING OUTCOMES
Account for fixed assets including
development of a depreciation schedule
comparing the different depreciation methods.
Account for current liabilities including
payables and contingencies as well as
compute a payroll and the related taxes.
Account for long term liabilities including the
pricing of a bond using present value tables
and the completion of a bond amortization
schedule.
Account for stockholders’ equity both paid-incapital (issuance and repurchase of stock)
and earned capital (dividends and
restrictions).
TYPE OF OUTCOME
(General Education,
Course or Program)
METHOD OF ASSESSMENT
Course
Discussions, assignments, projects, quizzes
or exams
Course
Discussions, assignments, projects, quizzes
or exams
Course
Discussions, assignments, projects, quizzes
or exams
Course
Discussions, assignments, projects, quizzes
or exams
SECTION 7
Faculty name(s):
Shawna Coram
Date:
9/29/14
7