PRINCIPLES OF ACCOUNTING I
ACCOUNTING 2291
SPRING, 2013
SECTION TCAA
*WHEN YOU TAKE YOUR FINAL EXAM IN PRINCIPLES OF ACCOUNTING
2(ACCOUNTING 2292), THAT EXAM WILL COVER THE MATERIAL IN
THIS COURSE AS WELL AS THE MATERIAL IN ACCOUNTING 2292*
* THE LAST DAY TO DROP THIS (OR ANY OTHER COURSE) IS MARCH 18. AFTER THAT, YOU WILL RECEIVE THE GRADE YOU HAVE. GRADES OF D/P AND D/F WILL NO LONGER BE GIVEN. THIS POLICY APPLIES TO EVERY COURSE TAUGHT AT TROY UNIVERSITY.
*IF YOU PURCHASE A NEWTEXTBOOK, IT WILL COME ENCLOSED IN A CELOPHANE WRAPPER AND WILL CONTAIN A PIECE OF GREEN CARDBOARD APPROXIMATELY 5” BY 7”. KEEP THAT PIECE OF CARDBOARD. IT CONTAINS THE PASSWORD WHICH WILL ALLOW YOU TO TAKE PRACTICE QUIZZES AND TO USE OTHER LEARNING DEVICES ON A COMPUTER PROGRAM CALLED CENGAGENOW.
Instructor: Lee Daniel
Office Hours: 12:00 until 1:00 MWF; 2:00 until 5:30M&W; and by appointment
Office Location: Bibb Graves 120
Office Telephone334-670-3158
334-670-3136 Secretary
334-670-3592 FAX
Time of class9:00 until 9:50 MWF
Class location Bibb Graves 201
PrerequisitesNone
Course DescriptionModern financial accounting theory and practices applied to sole
proprietorships, partnerships, and corporations.
Course Objective: 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 :
- Journalize and post transactions
- Prepare a trial balance
- Make adjustments and prepare an adjusted trial balance
- Prepare basic financial statements.
- Prepare closing entries
- Calculate the cost of goods sold
- Account for inventories, accounts receivables, plant assets, intangibles, current liabilities, and payroll liabilities.
- Apply the basic assumptions and principles of financial accounting.
Purpose To enhance understanding of how basic financial transactions are
recorded and analyzed.This course is a core requirement for all undergraduate business programs.
Text: Warren, C,S., Reeve, J.M., &Duchac, J.E. Accounting (24th
edition) Mason, OH: Thompson/South-Western). This book will
be used for both Principles 1 and Principles 2. The book is
available in both paperback and in hardback. The content in both
books is the same so it does not matter which version you have.
Other Material: A study guide for this course is available. The title is “Mysteries of
Accounting Explained in Plain English” and is available at the
Barnes and Noble bookstore . THE STUDY GUIDE IS NOT
REQUIRED but is highly recommended.
Grading Method:
Two exams @300 points each 600 points
Quizzes (in total) 150 points
COMPREHENSIVE Final Exam 250 points
Total Points 1000 points
Total PointsGrade in Course
1000-900 A
899-800B
799-700C
699-600D
Less than 600F
QUIZZES
There will be many, many short (10-15minute) quizzes
given in this course. These quizzes will not be announced in advance. There is no such thing as a make-up quiz. If you do not take a quiz (regardless of the reason), you get a zero. Your three lowest quiz grades will be dropped. If you miss a quiz, the zero that you got on that quiz will be one of your three drop grades.
COURSE OUTLINE
Chapter 1 Introduction to Accounting and Business
Chapter 2 Analyzing Transactions
Chapter 3 The Adjusting Process
Chapter 4 Completing the Accounting Cycle
Chapter 6 Accounting for Merchandising Businesses
Chapter 7 Inventories
Chapter 8 Sarbanes Oxley, Internal Controls and Cash
Chapter 9 Receivables
Chapter 10 Fixed Assets and Intangible Assets
Chapter 11 Current Liabilities and Payroll
CLASSROOM ADMINISTRATION
- Please get to class on time. People who come in late disturb everyone else.
- PLAIN OL’ CALCULATORS ARE THE ONLY MECHANICAL DEVICES THAT ARE ALLOWED ON EXAMS. TRANSLATING DEVICES (ELECTRONIC DICTIONARIES) ARE NOT ALLOWED.
- If you are a business major, you must make at least a “C” in the course or it will have to be repeated.
- The classroom is not a lunchroom. Please do not plan on having lunch (or breakfast) in here because the noise disturbs others. If you just have to bring a beverage in here, please be sure it is in a can or a bottle Drinks that are in a cup full of ice make a lot of noise, so please don’t bring either a cup of ice or food.
- You do not have to take either of the first two exams.They areboth optional. If you do not take one or both of the first two exams, the grade you make on the final exam will count for the exam you missed. However, if you choose to take the first two exams and do poorly on one or both, don’t ask if we can “forget” about that grade and let the final exam count extra. The answer to that question is “NO”.
- There is no such thing as extra credit in this course.
- Good excuse, bad excuse, or no excuse at all, THERE IS NO SUCH THING AS A MAKE UP QUIZ OR A MAKE UP EXAM.
DATES TO REMEMBER
First day of class January 9
Holiday (King’s Birthday)January 21
Spring Break March 11 - 17
*LAST DAY TO DROP*March 18
Last Day of Class April 30
Dead Day *NO CLASS* May 1
Final Exam Friday, May 3at 11:
ADDITIONAL SERVICES
AMERICANS WITH DISABILITIES ACT
TroyUniversity supports Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, which insure that postsecondary students with disabilities have equal access to all academic programs, physical access to all buildings, facilities and events, and are not discriminated against on the basis of disability. Eligible students, with appropriate documentation, will be provided equal opportunity to demonstrate their academic skills and potential through the provision of academic adaptations and reasonable accommodations. Further information, including appropriate contact information, can be found at the link for TroyUniversity’s Office of Human Resources at
CELL PHONE AND OTHER ELECTRONIC DEVICE
Use of any electronic devise by students in the instructional environment is prohibited unless explicitly approved on a case-by-case basis by the instructor of record or by the Office of Disability Services in collaboration with the instructor. Cellular phones, pagers, and other communication devices may be used for emergencies, however, but sending or receiving non-emergency messages is forbidden by the University. Particularly, use of a communication device to violate the TroyUniversity “Standards of Conduct” will result in appropriate disciplinary action (See the Oracle.)
In order to receive emergency messages from the University or family members, the call receipt indicator on devices must be in the vibration mode or other unobtrusive mode of indication. Students receiving calls that they believe to be emergency calls must answer quietly without disturbing the teaching environment. If the call is an emergency, they must move unobtrusively and quietly from the instructional area and notify the instructor as soon as reasonably possible. Students who are expecting an emergency call should inform the instructor before the start of the instructional period.
ATTENDANCE POLICY
Attendance will be taken at each class meeting, but will not count any part of the course grade.
INCOMPLETE WORK POLICY
The only time this policy is needed is if you don’t show up for the final exam. If you don’t take the final exam, regardless of the reason, you will receive an “F” in the course rather than an Incomplete. However, when you do take the final exam, the “F” will be changed to whatever grade you made.
NOTE: If you do not take the final exam, regardless of the reason, you will be given a make-up exam that is considerably more difficult than the original final. If you know in advance that you will have to miss the final exam, you may, if you wish to take it early.
CHEATING POLICY
The cheating policy is very simple. If you are caught cheating, you FLUNK THE ENTIRE COURSE. There is no such thing as a second chance. Cheating is cheating, whether it is “just a quiz”, the final exam, or anything in between.
OTHER INFORMATION
Over the years, many students have done poorly in this course because they didn’t read the syllabus and therefore didn’t know the rules. For example, some students didn’t know that the final exam was comprehensive. Other students didn’t know that they were allowed to use calculators on the quizzes and exams. In an attempt to motivate you to read this syllabus, all of the quizzes and exams will contain at least one question from this syllabus.
MAKE UP EXAMS/QUIZZES
Good excuse, bad excuse, no excuse at all, THERE IS NO SUCH THING AS A MAKE UP. If you don’t take one of the quizzes, YOU GET A ZERO, regardless of the reason. If you don’t take one of the exams, regardless of the reason, the grade you make on the final exam will be your grade for the exam that was missed.
EXTRA CREDIT
There is no such thing as extra credit in this course.
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, publishing quality research and providing service to the professional community. We prepare students for successful careers with increasing professional and managerial responsibility in public accounting as well as government and industry and prepare undergraduate students for admission to graduate programs in accounting and business.
SCOB Mission Statement
The Sorrell College of Business supports the Troy University mission by preparing our diverse student body to become ethical professionals equipped to compete in the global business environment. To achieve this, our faculty, staff, and administration will:
1)provide quality education in global business through our undergraduate and graduate programs, delivered around the world through face-to-face and online environments, to traditional, non-traditional, military, and international students;
2)contribute to the development and application of knowledge focused on applied business, learning, and pedagogical research;
3)provide service to the University, business and professional organizations, and our communities through individual involvement, business outreach, and our centers for research.
SCOB Value Statement
The Sorrell College of Business will be a recognized and respected leader for quality and flexibility in the delivery of business education that prepares graduates to succeed in the global business environment.
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, nontraditional 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.