Acct 2301.002

Principles of Financial Accounting-Spring 2018

2:00-3:20 T & R

Instructor: Leslie DeShay Voss

Bus 133A

Office Hours: Tuesday 3:30-5:00

Wednesday 1:30-4:30

Thursday 12:15-1:45

Also, available by appointment. .

Preferred means of communication:

Unless circumstances beyond my control preclude me from doing so, I will be available in my office during the office hours listed above. All other communication should be first, via email, and as a last resort, via my office phone. I monitor my email frequently and should be able to respond within 24 hours M-F and within 48 hours on the weekend and breaks.

Evaluation

Course Description: An introduction to the financial statements and their use in decision making. Topics include the accounting cycle, concepts and principles used in recording equity, revenues and expenses and internal controls.

Prerequisite: None

Course Objectives:

  • Identify the four principal financial statements and their users and determine the relationship among them
  • Determine how financial accounting information is communicated through financial statements including the importance of the notes to the financial statements.
  • Demonstrate how business transactions affect the accounting equation and the financial statements.
  • Define the accounting cycle, construct journal entries, and construct the related basic financial statements.
  • Identify the components, responsibilities and limitations of internal control
  • Explain the financial statement effects and tax effects of inventory cost flow assumptions and analyze management of inventory using the ratios
  • Identify the major accounting issues with respect to noncurrent assets including the allocation of cost to expense over time and calculate depreciation and amortization of assets.
  • Describe the nature of bonds and why the market value of a bond moves inversely with changes in interest rates and understand the relationship of the bond valuation to the time value of money. Compute a bond's value.
  • Indicate the transactions that affect stockholders' equity and evaluate company performance using information on stockholders' equity
  • Classify transactions for the statement of cash flows and relate that statement to the income statement and balance sheet.
  • Define the significance of the independent auditor's report.

Required Course Materials:

Textbook: Financial Accounting 4th edition Authors Spiceland, Thomas and Herrmann. Published by McGraw-Hill Irwin. You will not be able to use any other edition besides the 4th edition.

Information that must appear in each course syllabus:

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Semester Schedule:

1/16/2018 / Chapter 1
1/18/2018 / Chapter 1 / Homework #1 Due 1/21/18
1/23/2018 / Chapter 2
1/25/2018 / Chapter 2 / Homework #2 Due 1/28/18
1/30/2018 / Chapter 3
2/1/2018 / Chapter 3 / Homework #3 Due 2/4/18
2/6/2018 / Project & Exam Review / Quiz #1 Due 2/7/18
2/8/2018 / Exam #1
2/13/2018 / Chapter 4
2/15/2018 / Chapter 4 / Homework #4 Due 2/18/18
2/20/2018 / Chapter 5
2/22/2018 / Chapter 5 / Homework #5 Due 2/25/18
2/27/2018 / Chapter 6 / Part 1 of project due 2/27/18
3/1/2018 / Chapter 6 / Homework #6 Due 3/4/18
3/6/2018 / Exam Review / Quiz #2 Due 3/7/18
3/8/2018 / Exam #2
3/12/18-3/16/18 / Spring Break
3/20/2018 / Chapter 7
3/22/2018 / Chapter 7/8 / Homework #7 Due 3/25/18
3/27/2018 / Chapter 8 / Part 2 of Project Due 3/27/18
3/29/2018 / Chapter 9 / Homework #8 Due 4/1/18
4/3/2018 / Chapter 9 / Quiz #3 Due 4/4/18
4/5/2018 / Exam #3
4/10/2018 / Chapter 10 / Part 3 of Project Due 4/10/18
4/12/2018 / Chapter 10 / Homework #9 Due 4/15/18
4/17/2018 / Chapter 11
4/19/2018 / Chapter 11 / Homework #10 Due 4/22/18
4/24/2018 / Chapter 12 / Part 4 of Project Due 4/24/18
4/26/2018 / Chapter 12 / Quiz #4 Due 4/29/18
5/1/18-5/5/18 / Final Exam TBA

*The schedule is tentative and subject to change