GREAT BASIN COLLEGE

COURSE SYLLABUS

ACC 201 Financial and Managerial Accounting

FALL 2013, 3 Credits

Instructor: La Fleur

Hours: Mon. Tue. Wed. Thur. 6:30am-5pm Unit 6

Classroom: Education Building Multi Purpose Room

Textbook: Financial and Managerial Accounting 9 Ed. (Needles, Powers, and Crosson)

Course Description:

Basic accounting principles and procedures with a focus on the sole proprietorship and partnership form of business. The accounting cycle, receivables, payables, inventory, fixed asset acquisition and disposal, and financial statement preparation.

Course Objective:

The objective of this course is to give the students an introduction to Finance and Managerial Accounting practices. Students will learn the fundamentals of debits and credits, analyzing and evaluating financial statements, and accounting equations. Students will be able to illustrate accounting principles with real-world examples in order to prepare the students to be informed consumers and readers of accounting literature.

Student Learning Assessment:

Standard grading scale will be used. The following items will be graded accordingly and will carry the assigned grading values.

1.  Class participation: Worth 150 points

Class attendance

Class discussion question

Class assignments

Group activities

2.  Five exams: (100 points each) Worth 500 points

3.  Final exam: Worth 100 points

Total = 750 points

Grade values are as follows:

A = 90-100% B = 80-89% C = 70-79% D = 60-69% F = 59% or less

Learner Outcomes and Measurements

Listed in the table below are the expected learner outcomes of the course, and the methods that will be used to measure students’ success in achieving these outcomes.

Expected Learner Outcomes / Outcome Measurements
Upon completion of the course the student will be able to: / The expected outcomes will be measured by:
1. Identify the users of accounting information, identify the four basic financial statements and become familiar with the application of the accounting equation. / Chapter 1 discussions, homework problems, and exam
2. Analyzing business transactions. / Chapter 2 discussions, homework problems, and exam
3. Analyze cash flows, describe the accounting cycle, and explain the purposes of closing entries. / Chapter 3 discussions, homework problems, and exam
4. Describe the objective of financial reporting and the work sheet. / Chapter 4 discussions, homework problems, and exam
5. The operating cycle and merchandising operations. / Chapter 5 discussions, homework problems, and exam
6. Prepare an income statement and record merchandising transactions specific to inventory systems. / Chapter 6 discussions, homework problems, and exam
7. Explain methods of controlling cash and bank reconciliations. / Chapter 7 discussions, homework problems, and exam
8. Identify issues related to current liabilities and fair value accounting. / Chapter 8 discussions, homework problems, and exam
9. Define Long-Term assets and management issues. / Chapter 9 discussions, homework problems, and exam
10. Identify management issues related to Long-Term Liabilities. / Chapter 10 discussions, homework problems, and exam
11. Identify and explain management issues related to Contributed Capital. / Chapter 11 discussions, homework problems, and exam
12. Explain the management issues related to long-term and short-0term investments. / Chapter 12 discussions, homework problems, and exam
13. Define quality of earnings, compute earnings per share and identify the components of a corporate income statement. / Chapter 13 discussions, homework problems, and exam

Course Expectations:

GBC subscribes to the tradition policy of academic integrity: Students are expected to be honest and to do their own work. Students who plagiarize are violating the standards of intellectual honesty and are subject to failing the assignment or dismissal from the institution.

Method of Instruction:

Emphasis is placed on in class discussion questions, responses, class assignments, group work, and presentations.

Course Schedule:

Date / Week / Subject / Readings / Assignments
4-Sep / 1 / Chapter 1 Use of accounting information and the financial statements. How to read an annual report. / Chapter 1
11-Sep / 2 / Chapter 2 Analyzing business transactions. / Chapter 2 (Exam 1 Ch. 1, 2)
18-Sep / 3 / Chapter 3 Measuring business income. Closing entries and the work sheet. / Chapter 3
25-Sep / 4 / Chapter 4 Financial reporting and the work sheet. The annual report project. / Chapter 4 (Exam 2 Ch. 3, 4)
2-Oct / 5 / Chapter 5 The operating cycle and merchandising operations. / Chapter 5
9-Oct / 6 / Chapter 6 Inventories. / Chapter 6 (Exam 3 Ch. 5, 6)
16-Oct / 7 / Chapter 7 Cash and receivables. / Chapter 7
23-Oct / 8 / Chapter 8 Current liabilities and fair value accounting. / Chapter 8 (Exam 4 Ch. 7, 8)
30-Oct / 9 / Chapter 9 Long-Term assets. / Chapter 9
6-Nov / 10 / Chapter 10 Long-Term Liabilities. / Chapter 10 (Exam 5 Ch. 9, 10)
13-Nov / 11 / Chapter 11 Contributed Capital. / Chapter 11
20-Nov / 12 / Chapter 12 Investments. / Chapter 12
27-Nov / 13 / Chapter 13 The corporate income statement and the statement of stockholders equity. / Chapter 13
4-Dec / 14 / Final Exam Review / Final Exam Review
11-Dec / 15 / Final Exam / Final Exam