TROY UNIVERSITY
ACT2291 Section TOAC
Principles of Accounting I
COURSE SYLLABUS
Fall 2012
August 15 – December 12, 2012
NOTE: For course syllabus and schedule posted prior to the beginning of the term, the professor reserves the right to make minor changes prior to or during the term. The professor will notify students, via email or Blackboard announcement, when changes are made in the requirements and/or grading of the course.
OFFICE HOURS:
M & W 8:00 - 11:30 and 1:00 – 2:30
Or by appointment
I'm available by email at any time or by phone on weekdays between the hours listed above (Central Time). I respond much more quickly to emails than to phone calls.
PREREQUISITES:
None
COURSE INFORMATION:
Class Time: Tu/Th 8:30 – 9:45 a.m.
Class Location: Bibb Graves (BG) 147
ENTRANCE COMPETENCIES:
The student must possess the knowledge and skills of a high school graduate and the capability to perform on a college level. Knowledge of basic mathematics, such as multiplying and dividing fractions and using percentages, and simple algebra, is assumed.
STUDENT EXPECTATION STATEMENT:
· The student is expected to participate in the course via email exchanges (or other communication) with the professor, by reading the assigned readings, submitting assignments, and completing exams in a timely fashion.
· The student is expected to attend class, participate in class discussions, and complete assignments. You cannot benefit from the class lectures and discussions if you are not present.
· You must have studied the assigned chapter prior to coming to class, so that you are prepared to contribute to class discussions. If called upon, you are expected to be an active participant in this class. You should be prepared to present homework assignments to the class. You should be able to explain the steps involved in completing the assignment. This will help reinforce the learning process and will give you additional practice in effective communication.
· Students should treat others with respect and conduct themselves with a professional demeanor while in the classroom.
· Students are expected to check their emails daily and the announcements at least every 48 hours.
· Students will need to devote a considerable amount of time outside class reading and processing the information in the text. Reading the chapter introduces the topic. Class lectures discuss and explain the topic. Homework, practice quizzes and studying reinforce the topic. Several hours should be devoted to the course each week.
· Poor preparation for business meetings may create the impression that an individual lacks the
necessary attributes to be effective in performing their business related tasks. Your class experience can be enhanced, by demonstrating both a professional demeanor and strong work ethic that indicates a strong desire to learn throughout the whole semester. A professional demeanor is demonstrated through excellent attendance, arriving a few minutes early, opening the textbook to where the last class ended, taking out class notes / any completed homework, raising your hand to regularly participate in the class discussions, and being respectful. A strong work ethic is demonstrated through a sincere attempt to complete all homework assignments prior to class and sharing your solutions during in class coverage of such assignments. If you are not able to solve a problem, then you should write down your question that would have helped you to do so. The development of good behavior is a prerequisite to be successful in business.
CATALOG DESCRIPTION:
Modern financial accounting theory and practices applied to business entities. Students must complete this course with a grade of C or better.
PURPOSE:
To enhance understanding of how basic financial transactions are recorded and analyzed. This class is a core requirement for all undergraduate business programs.
COURSE OBJECTIVES/STUDENT LEARNING OUTCOMES:
The objective of this course is to provide students with an understanding of the basic assumptions, principles, and mechanics of financial accounting.
After completing this course, students should be able to:
1. Journalize and post transactions, including adjusting and closing journal entries
2. Prepare unadjusted, adjusted, and post-closing trial balances and basic financial statements
3. Record, analyze and evaluate activities of merchandising businesses, including calculating cost of goods sold
4. Account for assets and current liabilities
5. Apply the basic assumptions and principles of financial accounting
TEXTBOOK(S) AND/OR OTHER MATERIALS NEEDED:
Warren, C. S., Reeve, J. M., & Duchac, J. E. Accounting (24th). Mason, OH: Thomson/South-Western/Cengage Learning **bundled with CengageNOW in the Troy University bookstore (Custom ISBN for Troy University 1133220169)
Important Note: Homework for this course is required to be completed using CengageNOW. The acquisition of the correct textbook with access to CengageNOW is critical for a student’s success in this course. Merely getting the “right” version of the textbook without access to the CengageNOW tool will not be sufficient to participate in the course. CengageNOW is a very useful assessment tool for textbook assignments, quizzes, and examinations. The electronic resource is especially useful in assisting a student to successfully complete textbook assignments, while providing quick feedback. Links to an electronic version of key pages to the textbook’s examples enable the student to replicate a similar task. In addition, Excel “smart” worksheet setups inform the student when an error has been committed. The failure to acquire the proper course materials will significantly reduce a student’s ability to be successful in this course. Access to CengageNOW requires a special access code for each student that is bundled with the required textbook in the Troy bookstore. So if a student opts to acquire their textbook from another source, be sure that the textbook is bundled with CengageNOW or be prepared to purchase the code separately. No substitutes!
To purchase a textbook and CengageNOW access code online (ISBN 9781111985998):
http://www.cengagebrain.com/shop/en/US/storefront/US?cmd=CLHeaderSearch&fieldValue=9781111985998
To purchase only a CengageNOW access code ($136):
http://www.cengagebrain.com/shop/en/US/storefront/US?cmd=CLHeaderSearch&fieldValue=9781111299668
To rent the text from Cengage or purchase Echapters:
http://www.cengagebrain.com/shop/isbn/978-0-538-47500-6
Students should have their text AND access to CengageNOW the first week of class. Not having your book will not be an acceptable excuse for late work. Students who add this course late should refer to the “Late Registration” section for further guidance.
Other materials: Pencil, paper, calculator. No translating devices or cell phones will be allowed during exams. PowerPoints are provided by the professor for student use.
Supplements: CengageNOW access; Other as deemed appropriate
FORMATIVE ASSESSMENT
ACT2291 students will be required to take a formative assessment as the comprehensive final exam in ACT2292. The exam will relate to both Principles of Accounting I and II concepts.
INTERNET ACCESS
§ Students must have access to a working computer and access to the internet. Students can use the Troy University computer lab, a public library, etc., to ensure they have access.
§ “Not having a computer” or “computer crashes” are not acceptable excuses for late work. Have a backup plan in place in case you have computer problems.
TROY EMAIL:
All Students
Effective July 1, 2005, all students were required to obtain and use the TROY email address that is automatically assigned to them as TROY students. All official correspondence (including bills, statements, emails from professors and grades, etc.) will be sent ONLY to the troy.edu (@troy.edu) address.
COURSE REQUIREMENTS:
· Upon Enrollment: confirm email address (and be sure to keep your box cleaned out!!); purchase and register CengageNOW
· Participation in class discussions
· Homework assignments using CengageNOW
· Required examinations
STUDENT/FACULTY INTERACTION:
· Interaction will take place via email, telephone, comments on written assignments, or office visits.
· The student will participate in this course by following the guidelines of this syllabus and any additional information provided by the professor or Troy University.
· The student is expected to remain in regular contact with the professor and class via email or other communication means, by submitting assignments and taking exams, all in a timely fashion.
· TROY requires professors to respond to students’ e-mail within 24 hours M-Th, and 48 hours Fri-Sun.
· I will communicate on the Blackboard.com Announcement page and/ or via e-mail.
ATTENDANCE POLICY:
Attendance will be taken daily at the beginning of class. Students that miss attendance, whether late or absent, will be marked absent. Students should present documentation for excused absences on the first class day following the absence (i.e. doctor’s excuse, Troy University excuse, etc.). Students are allowed three (3) unexcused absences. For each additional absence, participation points will be deducted.
For any quizzes, problems, exams, or other activities that are completed in class, you must be present to receive credit. Unannounced quizzes may be given for extra credit on days when attendance is poor.
Routine absences from class will have a large, negative impact on your grade.
Students are expected to punctually attend all scheduled classes. People who arrive late disturb everyone else!! Students who arrive at class after roll call will be counted absent.
MAKE-UP WORK POLICY:
Missing any part of this schedule may prevent completion of the course. If you foresee difficulty of any type (i.e., an illness, employment change, etc.) which may prevent completion of this course, notify the professor as soon as possible. Failure to do so will result in failure for an assignment and/or failure of the course. See “Attendance” above.
If you miss an exam due to an excused absence, I will allow a make-up exam with advance notice to me. If you cannot make it up before the next class meets, you may take a make-up exam during a scheduled time. For any exam not completed, the student will receive a zero (0) grade.
If I have not heard from you by the deadline dates for assignments or exams, no make-up work will be allowed (unless extraordinary circumstances existed, such as hospitalization). Requests for extensions must be made in advance and accompanied by appropriate written documentation if the excuse is acceptable to the professor. "Computer problems" are not an acceptable excuse.
INCOMPLETE GRADE POLICY:
If circumstances will prevent the student from completing the course by the end of the term, the student should complete a request for an incomplete grade. The professor may report an "Incomplete (I)" for a student whose progress in a course has been satisfactory (e.g. the student is passing the course), but who is unable to complete the course grading requirements because of documented circumstances beyond his/her control. Refer to TROY Incomplete Grade Policy.
Note: A grade of incomplete is not automatically assigned to students, but rather must be requested by the student by submitting a Petition for and Work to Remove an Incomplete Grade Form. Requests for an incomplete grade must be made on or before the date of the final assignment or test of the term. An incomplete is not a substitute for an F. If a student has earned an “F” by not submitting all the work or by receiving an overall F average, then the F stands. An incomplete will not be awarded for excessive absences. An incomplete will only be awarded to student presenting a valid case for the inability to complete coursework by the conclusion of the term. It is ultimately the professor’s decision to grant or deny a request for an incomplete grade.
METHOD OF INSTRUCTION:
To assist you in mastering the course material, I will lecture on each chapter, highlighting and explaining the important concepts, and then together we will work on exercises, problems and financial statement analysis. PowerPoint slides and other materials are posted for your use in Blackboard.
The student is responsible for all instructions and assignments given in class, as well as for the supporting textbook content. The student should read the textbook material before the lecture covering that material. This leads to a better understanding of the lecture, as well as the opportunity to ask questions about material(s) in the text that were unclear or that the student did not understand.
Homework will be assigned for each chapter. These assignments are made for the sole purpose of allowing the student to see if they understand the material. These assignments will be turned in for grading using CengageNOW. Students who do not work the homework problems perform very poorly on the tests. The homework assignments are directly related to the course goals and objectives, and to the chapter learning objectives. On the homework assignment due dates, you should be prepared to present the problems, cases, or any other assigned material.
The labs in Bibb Graves are available for student use and tutors are available.
The focus will be on developing analytical and conceptual thinking, not on memorization. Each of you will be an active participant in the learning process, not a passive recipient of information. You will learn by PARTICIPATING!
METHOD OF EVALUATION:
Exam 1 100 points
Exam 2 100
Exam 3 100
Comprehensive Final Exam 175
Participation and Attendance 50
Homework (100 of 122) 100
Total 625 points
ASSIGNMENT OF GRADES:
All grades will be posted and assigned according to the following or similar scale:
A 90 – 100%
B 80 – 89%
C 70 – 79%
D 60 – 69%
F 59% and below
Postings: Grades will be posted in the Blackboard grade book during the course and final grades will be posted in Trojan WebExpress.
FA: “FA” indicates the student failed due to attendance. This grade will be given to any student who disappears from the course for three or more weeks. See the Attendance section of this syllabus for additional information.
EFFECTIVE FALL 2012: The last day to drop a course is October 19. After this date, students will not be allowed to drop the course and students will have to take the grade earned in the course. Drop forms may be obtained from the Records office in Adams Administration. Complete the drop form and bring it to me to sign. Return the form to the Records office.
A grade will be assigned to you at the end of the course based on your performance on tests, your class attendance, and participation.
SUBMITTING ASSIGNMENTS:
· All homework and assignments will be submitted using CengageNOW. Homework is due at class time on the day homework is to be reviewed in class for each chapter as per the schedule. Homework turned in after the due date will be penalized 60%.
· Quizzes may be administered during class at the professor’s discretion.
· Note: We will discuss CengageNOW in-depth on the first day of class. If you have any problems, please see me.
EXAMINATION SCHEDULE & INSTRUCTIONS:
· Tentative examination dates are indicated on the assignment schedule. Exam dates are subject to change with advance notice from the professor.