Master Syllabus: ACT 22911

TROYUNIVERSITY
MASTERSYLLABUS
SORRELLCOLLEGE OF BUSINESS

ACT 2291
Principles of Accounting I

TROY UNIVERSITY SCOB MISSION STATEMENT

The Sorrell College of Business (SCOB) prepares a diverse student body, drawn primarily from Alabama and surrounding states, to become successful, ethical and engaged business professionals with the knowledge to compete in the global business environment.

To achieve this our faculty, staff, and administration will:

Provide quality undergraduate and graduate education in global business through high-quality teaching;

Serve the university and engage with business and professional communities in our primary service area through individual involvement and our centers for research and outreach;

Grow and enhance the longstanding “culture of caring” for our traditional, nontraditional, military, and international students; and

Contribute to the creation of knowledge, with a focus on the scholarship of application and integration, and teaching and learning, complemented by basic and discovery scholarship in select disciplines.

TROY UNIVERSITY SCOB VISION STATEMENT

The Sorrell College of Business strives to be a renowned teaching-focused business college graduating GEEKS ready to succeed in business and life.

Prerequisites

None.

Description

Modern financial accounting theory and practices applied to sole proprietorships, partnerships, and corporations. Students must complete this course with a grade of C or better.

Objectives

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.

Purpose

To enhance understanding of how basic financial transactions are recorded and analyzed.This class is a core requirement for all undergraduate business programs.

Required Activity

This course must contain a student engagement activity with the community that relates to course content. The activity may include guest speakers, site visits, projects for the community/industry, etc…

Approved Texts

Warren, C. S., Reeve, J. M., & Duchac, J. E.Accounting(current edition). Mason, OH: South-Western Cengage Learning

Technology Component

This course requires one technology component.

Engagement Activity

This course requires one engagement activity.

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.

Supplements

CengageNOW Software

Others as deemed appropriate

ACT 2291
Principles of Accounting I

Course Outline

Chapter 1Introduction to Accounting and Business

Chapter 2Analyzing Transactions

Chapter 3The Adjusting Process

Chapter 4Completing the Accounting Cycle

Chapter 5Accounting Systems (optional)

Chapter 6Accounting for Merchandising Businesses

Chapter 7Inventories

Chapter 8Sarbanes Oxley, Internal Control, and Cash

Chapter 9Receivables

Chapter 10Fixed Assets and Intangible Assets

Chapter 11Current Liabilities and Payroll

Note: This outline is intended to be minimum coverage of concepts. Other concepts may be covered at the instructor’s discretion.

School of Accountancy Mission Statement:

The mission of the School of Accountancy is to advance the accounting profession by providing quality accounting education to both undergraduate and graduate students. To achieve this, our faculty will:

1) prepare students for career opportunities with increasing professional and managerial responsibility in regional public accounting as well as government and industry in the Southeastern United States and prepare undergraduate students for admission to graduate programs in accounting and business;

2) publish quality intellectual contributions that impact the practice of accounting and accounting education; and

3) provide service to and engage with the academic and professional communities.

School of Accountancy Vision Statement:

The School of Accountancy will be a recognized and respected leader for quality accounting education that prepares students to succeed in public accounting and government and industry.

Student Body and Service Area Description:

Alabama and the surrounding states are the primary target student markets for undergraduate and graduate business programs offered by the SCOB. The SCOB also serves strategic constituencies, such as members of the U.S. military, domestic distance learning students from across the country, and complementary international markets with select SCOB programs. A substantial portion of the university’s domestic and international enrollment consists of first generation students. The SCOB outreach and research centers primarily serve constituents in Alabama, usually near our campuses in Central and Southeastern Alabama.

Troy University Mission Statement

Troy University is a public institution comprised of a network of campuses throughout Alabama and worldwide. International in scope, Troy University provides a variety of educational programs at the undergraduate and graduate levels for a diverse student body in traditional, non-traditional and emerging electronic formats. Academic programs are supported by a variety of student services which promote the welfare of the individual student. Troy University’s dedicated faculty and staff promote discovery and exploration of knowledge and its application to life-long success through effective teaching, service, creative partnerships, scholarship and research.

Troy University Faculty Handbook (2016): Section 3.9.2.8 [extract] — essential elements of the syllabus (somewhat modified for space):

  1. Course title
  2. Course number + section
  3. Term
  4. Instructor
  5. Prerequisites
  6. Office hours
  7. Class days, times
/
  1. Classroom location
  2. Office location + e-mail address
  3. Office telephone
  4. Course description, objectives
  5. Text(s)
/
  1. Other materials
  2. Grading methods, criterion weights, make-up policy, mid-term grade reports
  3. Procedure, course requirements
/
  1. General supports (Computer Works, writing center)
  2. Daily assignments, holidays, add/drop & open dates, dead day, final exam
/
  1. ADA statement
  2. Electronic device statement
  3. Additional services, statements
  4. Attendance/
    Absence policy
/
  1. Incomplete work policy
  2. Cheating policy
  3. Specialization requirements (certification, licensure, teacher competencies)