ACCT 2101

PRINCIPLES OF ACCOUNTING I

SPRING SEMESTER 2011

Class Times: Tuesdays and Thursdays 11:00/12:30/2:00

Class Location: Brooks Hall 145

Instructor: Swati Bhandarkar (Bhan)

Office Location: Brooks Hall Room 244

Email:

Office Hours: Tuesdays and Thursdays: 3:20 until 5:20

Note: Office hours during week of midterms will be announced in class and on eLC.

Teaching Assistants:Mark Feeley

Kendall Green

Jessie Hamilton

Sean Nolan

Email to reach all TAs:

All TA office hours will be held in Room 219 Brooks Hall. You can see ANY 2101 TA during their office hours.

Office Hours are not to be used as a substitute for attending class. They can be used to clarify or reinforce material covered in class.

The syllabus and accompanying course schedule are a general plan for the course; deviations, may be necessary, and if made will be announced on eLC and/ or in class.

REQUIRED PRE-REQUISITE OR CO-REQUISITE COURSES: None

DUPLICATE CREDIT STATEMENT: The course will not be open to students who have credit in ACCT 1120H and/or ACCT 2101H
COURSE DESCRIPTION:
Basic accounting systems, concepts, and principles. The primary goals of this course are to develop an understanding of the accounting process and to summarize and communicate information useful in making economic decisions.
COURSE OBJECTIVES/EXPECTED LEARNING OUTCOMES:
This is the first course in Principles of Accounting and it will cover the basic concepts and principles underlying accounting systems. The primary goals of the course are to:
  • Develop an understanding of the accounting process and summarize and communicate information useful in making economic decisions.
  • Familiarize students with the preparation, analysis, and interpretation of financial statements.
The knowledge and skills you will develop in this class will be useful for ALL business disciplines. Accounting will play a very important role in your professional life, whether your future career goals relate to Finance, Marketing, Management or any other area of business. Accounting is the common language of business, and hence is a required course in every business school.
TOPICAL OUTLINE:
  1. Introducing Accounting in Business
  2. Analyzing and Recording Business Transactions
  3. Adjusting Accounts and Preparing Financial Statements
  4. Reporting and Analyzing Cash Flows
  5. Reporting and Analyzing Merchandising Operations
  6. Reporting and Analyzing Inventories
  7. Reporting and Analyzing Receivables
  8. Reporting and Analyzing Current Liabilities
  9. Reporting and Analyzing Long-Term Assets
  10. Reporting and Analyzing Long Term Liabilities
  11. Reporting and Analyzing Equity

REQUIRED TEXTBOOK:

Custom versionofFinancial Accounting, Information for Decisions, 5e, by John J. Wild. Copyright 2011, McGraw-Hill Irwin, . ISBN: 9780390306913is available at the UGA bookstoreor the complete text ISBN:978-07-352701-7.

COURSE WEBSITE:.

This course uses eLC extensively.You need to familiarize yourself with the course website as soon as possible. All classnotes, handouts, homework solutions and other information will be posted on the course website which is organized by chapter. You can access this website using your UGA MyID. You can also view your grades by accessing eLC.As such, you are expected to have access to a computer with a reliable internet connection. You are responsible for staying informed about all important announcements for this class that are posted on theeLC website. It is imperative that you access this website regularly.

There is also a Discussion Board in eLC which you can use to post questions or exchange ideas related to ACCT 2101. All irrelevant, inappropriate and/or non-ACCT 2101 related postings and solicitations of ANY kind will be deleted.

CLASS NOTES:

Class notes for every chapter will be posted on eLC. These notes are just outlines of the material for the chapter and therefore cannot be a substitute for attending class. The class notes will have important information missing;information that will be covered in class only. I recommend you print out the class notes before you come to class; so you do not have to copy down everything since there will not be adequate class time for you to do so. The class notes are in the form of PowerPoint slides and there may also be Excel spreadsheets for some chapters. Thus, you will need to use a computer which has Microsoft PowerPoint software as well as Microsoft Excel software. I will also post practice questions for each chapter (previous semesters’ quizzes) which you can use as a study aid. Please note that test questions will not be verbatim copies of these practice questions. They should be used only as a study tool that serves as an indicator about your understanding of the material.

GRADE DETERMINATION:

Your final course grade will be calculated as follows:

Letter Grade Distribution:

Midterm Exam 1 (Chapters 1-3): 20%A 92.5% & above A-88.5% to 92.4%

Midterm Exam 2 (Chapters 4-6): 25%B+85.5% to 88.4% B 82.5% to 85.4%

Midterm Exam 3 (Chapters 7-9): 25%B- 78.5% to 82.4% C+ 75.5% to 78.4%

Final Exam (Chapters 10-12 and 1-3) 30%C 72.5% to 75.4% C- 68.5% to 72.4%

Total100%D 59.5% to 68.4% F 59.4% & below

Grades in the course have to be “earned” and are not given by the instructor. There are no EXTRA CREDITopportunities to improve your grades.

WITHDRAWAL POLICY:

A student, who withdraws from the course before the Midpoint Withdrawal Deadline (Thursday, March 24) will be awarded a “WP” regardless of his/her performance in the class until that point. Per UGA policy, a student who withdraws after the Midpoint Withdrawal deadline is awarded a “WF” regardless of his/her performance during the semester. All course withdrawals are processed through OASIS. Per new UGA policy, for undergraduate students, there is now a limit of four (4) career withdrawals at UGA before all subsequent withdrawals receive an automatic grade of WF (Withdrawal Failing). The count will begin Fall 2008 regardless of when a student matriculated and of any withdrawals in previous terms. All withdrawals are included in the count except: Hardship Withdrawals, Withdrawals from Audited Courses, and Military Withdrawals.

INCOMPLETE POLICY:

UGA policy states that a grade of Incomplete (“I”) should be assigned to a student only if a student is doing satisfactory work, but for non-academic reasons beyond the student's control, is unable to fulfill the requirements of the course. Under such circumstances, the instructor has the option of assigning the student the grade “I,” indicating that the student's final grade is Incomplete. The policy in the J.M.TullSchool of Accounting is that the student MUST complete all the requirements for the course in the following session or the "I" will automatically be changed to an "F." A qualifying student who wishes to exercise this grading option must sign an Incomplete Policy Agreement that may be obtained from the Accounting Office in Room 255 Brooks Hall.

CLASSROOM ETIQUETTE:

College education prepares you for a professional career. Whatever career path you choose; Accounting, Marketing, Finance etc., professional behavior will be expected of you at all times. As such, you are required to adhere to the classroom etiquette outlined below.

  1. You are expected to attend class on time. However, if youare running late on a particular day, you are expected to enter the classroom using the rear entrance, without causing any disruption to the instructor or your classmates.
  2. If you choose to come to class, you are expected to stay the entire time. Entries and departures during the lecture are disruptive both to the instructor and to your classmates. In case you need to leave class early on a particular date, prior approval from the instructor is required.
  3. Due to past abuses made by your peers, electronic devices (except for a simple handheld calculator) are not permitted in the classroom. The list of disallowed items includes, Laptops, Cell phones, iPods, iPads, PDAs,BlackBerrys etc.
  4. While in class, you are expected to give the lecture your complete attention. Conversations with classmates or naps while in class will not serve the purpose of performing successfully in the course. Any student found to be violating this policy will be asked to leave the classroom.
  5. Respectful behavior towards your classmates,Teaching Assistants and Instructor is required at all times.

EXAMINATIONS:

All examinations are mandatory.The three Midterm examinations and Final Exam will consist of multiple choice questionswhich may be both conceptual and computational.You will not be tested on material that has not been covered in class. However, the questions on the examinations will not be verbatim copies of problems solved in class. Rather, the questions on the examination will entail analysis and application of the concepts and principles covered in class. The answer key to the exam will explicitly state where the concept tested was covered in the course.The midterm exams will be administeredfrom 7:00 pm to 9:00 pm on the scheduled dates listed on the attached Assignment Schedule.If you have a class conflict with any of the exam dates you need to inform me of this within the first two weeks of class and turn in your Spring Semester schedule printed through OASIS.The Final Exam is scheduled by the University and will be given from 7:00 pm to10:00 pm on Wednesday May 4, 2011.Students with schedule conflicts for the Final Exam, per UGA Policy,will be given an alternative Final on Tuesday,May 3, 2011, time and location to be announced. In order to be able to take the alternative Final exam, you must provide me a SpringSemester Schedule printed through OASIS, which shows the courses that you are enrolled in and the exams dates for those courses.This information should be provided to me no later than two weeks before the Final Exam. See for more information.

EXAMINATION POLICIES:

  1. YOU MUST BRING YOUR UGA PHOTO I.D. IN ORDER TO TAKE THE EXAMINATION- 810 numbers required. THERE ARE NO EXCEPTIONS TO THIS.
  2. No student will be allowed to sit for the examination 15 minutes after the start of the examination.
  3. Cell Phones and all other electronic devices (excluding permissible calculators) have to be turned off completely and be put away during the examination. Students are not allowed to use cell phones/any other electronic devices (excluding permissible calculators) while in the examination hall under any circumstances. Anyone found to have violated this policy will be reported to the Office of the Vice-President for Instruction for having violated UGA policy and procedures on academic dishonesty.
  4. Exams will be multiple choice questions and answers will have to be bubbled in on a scantron. Scantrons will be provided. If student information is not filled out correctly on the scantron, your test will not be graded or 10 points will be taken off at the instructor’s discretion.
  5. Each student will have a pre-numbered exam. You need to remember your exam number.
  6. THE SCANTRON WILL BE THE FINAL JUDGE AND JURY (NO EXCEPTIONS). Therefore, students should record their answers carefully. NO MISGRADING REQUESTS WILL BE CONSIDERED.
  7. When turning in the exam, each student will have to present their ID and sign in their name on a sign in sheet. There are no exceptions to this policy. Students are not permitted to have conversations with classmates while waiting in line to turn in their examination. Any student in violation of this policy will be deemed to have violated the academic honesty policy.
  8. Exams cannot be taken apart.
  9. No outside scratch paper can be used. You can do all your work on the test itself.
  10. Proctors will not answer any questions related to the test. If you have any issues related to any questions, you can write a note on the front or back of the test as space permits.
  11. Book bags, books and other items have to be kept under the seat or in the front of the examination hall. The only items allowed on the desk will be the test, pencil, erasers, pencil sharpener and permissible calculators.
  12. After the examination has started, no one will be allowed to leave the examination room without submitting their completed examination. Be sure to attend to your personal needs before the exam.
  13. Only Basic 5-function calculators are permitted. Cell phones/other electronic devices cannot be used as calculators. Calculators are NOT to be shared during exams and quizzes. You will not be allowed to use a programmable calculator in any of the quiz/examinations. Any student found using a programmable calculator/other electronic device during quiz/exams will be considered to have used unauthorized material to complete an assignment. The student will be reported to the Office of the Vice-President for Instruction for having violated UGA policy and procedures on academic dishonesty.
  14. The instructor/proctor reserves the right to assign seating during examinations.
  15. Students can review their exams by signing up for a 10 minute time slot during the instructors /TA’s office hours. All Test reviews will be in Room 244 Brooks Hall. Sign up sheets will be available during class.You should mark your answers on the actual test if you wish to see the questions you missed, as scantrons will not be available for review. You are not permitted to copy down any items from the test/answer key/other test material.
  16. The School of Accounting has a CLOSED EXAM POLICY. As a result, all exams remain the property of the School. Students may not keep or photocopy exams or copy down any items from the test/answer key/other test material. Any student found to have violated the policy will receive an “F” in the class and will be reported to the Office of the Vice-President for Instruction for having violated UGA policy and procedures on academic dishonesty.

NOTE: All instances of academic dishonesty will be reported to the Office of the Vice-President for Instruction and the student will receive an ‘F’ in the course.

MAKE UP EXAMINATION POLICY:

All examinations are mandatory.Missing an exam will result in a score of zero for that exam. However, if you miss an exam due to extenuating circumstances such as a serious illness requiring medical care- (documentation from physician is required and should clearly state that you should be excused from the exam on the specified day on account of your health), you may be approved to take a make-up exam.Job interviews, travel plans, and non-university sponsored activities will not be considered acceptable excuses for missing a midtermexam. You must provide me the relevant documentation upon missing a scheduled examination PRIOR TO OR WITHIN THREE DAYS of the missed examination in order to be approved for taking the make-up examination. The instructor reserves the right to verify the authenticity of the supplied documentation. There are no make-ups for a missed make-up exam and the student will automatically receive a zero for that exam.

Only if the necessary documentation is provided to me as stated above, the make-up examination policy is as follows:

1. For Midterm Exam 1: There is no make-up examination and the weightof Midterm Exam 1 will be added to the Final Exam. Hence, the Final exam will account for 50% of the course grade.

2 For Midterm Exam 2 and 3: A make up exam will be given on Tuesday, May 3, 2011, time and location to be announced.The Instructor’s prior approval is required before you can appear for a make-up examination.

UNIVERSITY HONOR CODE AND ACADEMIC HONESTY POLICY:

As a University of Georgia student, you have agreed to abide by the University’s Academic Honesty policy, “A Culture of Honesty,” and the Student Honor Code. All academic work must meet the standards described in “A Culture of Honesty”found at . Lack of knowledge of the academic honesty policy is not a reasonable explanation for a violation. Questions related to the course assignments and the academic honesty policy should be directed to the instructor.

All academic work submitted in this course must be your own, unless you have received my permission to collaborate and have properly acknowledged receiving assistance. It is my responsibility to uphold the University’s academic honesty policy and report any instance or suspicion of dishonesty to the Office of the Vice President for Instruction. The minimum penalty for academic dishonesty is an “F” in the course.

ATTENDANCE:

Regular attendance is essential to perform successfully in this course. Attendance may be taken randomly during class and may be used in grade determination. In addition, all items mentioned in class,(ACCT 2101 and non ACCT 2101 related, have a potential on being tested on the exams. You should attend the section you have registered for, in order to have your attendance accounted for accurately.

COMMUNICATION:

To ensure that you get a quick response to your emails, all emails should first be sent to the teaching assistants (TAs) at . I will respond only to emails forwarded to me by your TAs. If you do not receive a response from either your TAs or me, it could be because the answer to your question is contained in this syllabus or has previously been announced in class or posted on eLC. Please do not use eLC email to email me as I do not check eLC email. All email communications sent to you will be to your uga email account only (unless I am responding to an email sent by you). As such, you are required to check your uga email account.