University of North Carolina at Greensboro
BryanSchool of Business and Economics
Department of Accounting and Finance

ACC 201-02: Financial Accounting

Spring 2010

PROFESSOR: Linda Hughen, Ph.D., CPA
OFFICE: 336 Bryan
E-MAIL:
OFFICE HOURS: Wednesdays 4-6pm

GRADUATE ASSISTANT: TBA

TUTORING: 330 Bryan

Course Objectives:

  • Demonstrate an understanding of basic accounting terminology and procedures
  • Create the financial statements which flow from the accounting process
  • Understand the accounting cycle and the accounting system
  • Develop an understanding of how business organizations operate and the events which have a financial impact upon them
  • Understand the time value of money concepts
  • Facilitate the development of the student’s written communication skills through an essay assignment, essay assessment and/or business memo assignments
  • Contribute toward the BryanSchool’s commitment to information technology by requiring students to use the internet, e-mail, word processing software and spreadsheet software where appropriate within the course.

Text: Financial Accounting (This is a custom text for UNCG). The software (Homework Manager) code is required and should be included in the text or can be purchased online.

Course Resources: Blackboard:

Connect Homework Manager:

Grades will be determined by:

  • 2 mid-term exams: 20% each
  • 1 final exam (cumulative): 30%
  • Homework: 10%
  • Class Participation: 10%
  • Written Assignment: 10%

A+ = 97-100 / A = 93-96 / A- = 90-92
B+ = 87-89 / B = 83-86 / B- = 80-82
C+ = 77-79 / C = 73-76 / C- = 70-72
D+ = 67-69 / D = 63-66 / D- = 60-62
F = 59 and below

Grading Scale:

IMPORTANT

This is a very demanding and time-intensive course. It is not a course you can study for the night before an exam. I cannot stress enough the importance of (1) attending class each day, (2) actively participating in each class, (3) reading the text and doing homework on a daily basis, and (4) developing a sound foundation by understanding the basic concepts in Chapter 1 through Chapter 3 of the text.

ATTENDANCE POLICIES

  • Attending each class is extremely important to success in this course.
  • Please be sure to bring a pencil, eraser, and a calculator with you to each class.
  • I expect students to attend every class and to pay attention during class.
  • If you miss a class, it is your responsibility to get the notes and any materials you missed from another student in the class. I will not give out notes or any other materials from class to a student who misses a class.

HOMEWORK POLICIES

  • I recommend working out the assigned textbook problems on paper first, then uploading your answers to Connect before the assignment is due.
  • Homework assignments can be saved in Connect, allowing you to work on the same assignment at different times. However, you must submit the assignment to get credit for it.
  • After submitting your homework, you will be able to see which problems were incorrect. You are allowed to re-do those problems and submit your assignment one additional time.
  • Late homework will not be accepted. There are no exceptions.
  • Answers to homework assignments will be available in Connect the day after the assignment is due. Please check your answers and make sure you understand the material.

EXAM POLICIES

  • You may not borrow or share calculators during exams. Cell phones or other PDAs may not be used in place of calculators.
  • If for some reason, you are unable to take a scheduled mid-term exam, you must notify the professor of this fact before the exam. Failure to do this may result in an exam grade of zero. In computing your course grade where a mid-term exam is missed, the final exam grade will count twice.
  • Only those students with three or more final exams within the 24 hour period surrounding our scheduled final exam and have documentation from the registrar’s office are eligible to take the final exam on the make-up day. Documentation from the registrar’s office must be submitted to me before Monday, May 3.

Students are expected to abide by the UNCG’s Academic Integrity Policy and the Student Code of Conduct:

Student Conduct:

Academic Integrity Policy:

Student Disabilities: Any request for special accommodations must come through the Office of Disability Services with the appropriate paperwork.

SCHEDULE OF CLASS TOPICS AND ASSIGNMENTS

DATE Class #TOPIC CHAPTER ASSIGNMENT

Jan. 20(Class #1)Introduction to Accounting1Problem 1-25

Exercise 1-4, 1-9, 1-11

Jan. 27(Class #2)Introduction to Accounting1Exercise 1-10, 1-18, 1-22

The Accounting Cycle2Exercise 2-1, 2-2, 2-17

CHAPTER 1 HOMEWORK MUST BE SUBMITTED BY 8PM ON SUNDAY, JAN. 31

  • The homework assignment must be completed using the Connect Homework Manager software.
  • The homework can be accessed using the website listed in the syllabus.
  • Make sure you have SUBMITTED the assignment before it is due.
  • Assignments submitted after they are due will not receive credit.

Feb. 3(Class #3)The Accounting Cycle2 Exercise 2-3, 2-4, 2-5, 2-16

Exercise 2-25

Problem 2-27, 2-29

Feb. 10(Class #4)Merchandising Businesses3 Exercise 3-3, 3-5, 3-8, 3-9

Problem 3-21

CHAPTER 2 HOMEWORK MUST BE SUBMITTED BY 8PM ON SUNDAY, FEB. 14

Feb. 17 (Class #5)Merchandising Businesses3 Exercise 3-11, 3-13

Problem 3-25

Accounting for Inventories4Exercise 4-2, 4-3, 4-4, 4-5

Problem 4-20

CHAPTER 3 HOMEWORK MUST BE SUBMITTED BY 8PM ON SUNDAY, FEB. 21

Feb. 24(Class #6)Mid-term Exam: Chapters 1, 2 & 3

Bring a pencil with an eraser and a calculator.

Notes, scrap paper, and cell phones are NOT allowed during the exam.

Mar. 3(Class #7)Internal Controls and Cash4 Exercise 4-16, 4-17, 4-18

Problem 4-22

Accounting for Receivables5Exercise 5-3, 5-4, 5-7, 5-8

Exercise 5-9, Problem 5-19

CHAPTER 4 HOMEWORK MUST BE SUBMITTED BY 8PM ON SUNDAY, MARCH 7

No class March 10 - SPRING BREAK

DATE Class #TOPIC CHAPTER ASSIGNMENT

WRITING ASSIGNMENT DUE IN CLASS ON MARCH 17

Mar. 17(Class #8)Accounting for Receivables5Exercise 5-11, 5-14, Problem 5-22

Accounting for Long-Term Assets6Exercise 6-7, 6-8, 6-9, 6-11

Exercise 6-13, Problem 6-25, 6-27

Mar. 24 Class Cancelled

CHAPTER 5 HOMEWORK MUST BE SUBMITTED BY 8PM ON SUNDAY, MARCH 28

Mar. 31(Class #9)Accounting for Long-Term Assets6Exercise 6-14, 6-15, 6-16, 6-19, 6-20

CHAPTER 6 HOMEWORK MUST BE SUBMITTED BY 8PM ON SUNDAY, APRIL 4

Apr. 7(Class #10)Mid-term Exam: Chapters 4, 5 & 6

Bring a pencil with an eraser and a calculator.

Notes, scrap paper, and cell phones are NOT allowed during the exam.

Apr. 14(Class #11)Accounting for Liabilities7 Exercise 7-1, 7-2, 7-7, 7-8, 7-9, 7-10

Time Value of Money Appendix A Exercise, 7-12, Problem 7-22

CHAPTER 7 HOMEWORK MUST BE SUBMITTED BY 8PM ON SUNDAY, APRIL 18

Apr. 21(Class #12)Accounting for Long-Term Debt8 Exercise 7-14, 8-7A, 8-8A, 8-10A

Exercise 8-11A, 8-12A, 8-14A Exercise 8-15A, 8-16A

CHAPTER 8 HOMEWORK MUST BE SUBMITTED BY 8PM ON SUNDAY, APRIL 25

Apr. 28(Class #13)Proprietorships, Partnerships, 9 Exercise 9-4, 9-5, 9-6, 9-8, 9-9, 9-11

and Corporations Exercise, 9-12, 9-13, 9-14, 9-15

CHAPTER 9 HOMEWORK MUST BE SUBMITTED BY 8PM ON SUNDAY, MAY 2

May 12 7:00 – 10:00 PMCumulative Final Exam (Chapters 1-9)

BRYN 160 Bring a pencil with an eraser and a calculator.

Notes, scrap paper, and cell phones are NOT allowed during the exam.

May 13 11AM-2PMMake-up Final Exam

Location TBD See EXAM POLICIES on page 2 of the syllabus to determine whether you are

eligible to take the make-up final exam.