TROYUNIVERSITY
SYLLABUS
SORRELLCOLLEGE OF BUSINESS

ACT 2291

TDAB
Accounting Principles I

Spring 2012

Prerequisites None.

Description Modern financial accounting theory and practices applied to sole proprietorships, partnerships, and corporations.

Purpose & Objective The purpose is to enhance understanding of how basic financial transactions are recorded and analyzed.This course is a core requirement for all undergraduate business programs.The objective of this course is to provide students with an understanding of the basic assumptions, principles and mechanics of financial accounting.

Student Learning Outcomes On completion of the course, the student who satisfactorilycomplete the requirements of this course should be able to:

  1. Journalize and post transactions
  2. Prepare a trial balance
  3. Make adjustments and prepare an adjusted trial balance
  4. Prepare basic financial statements.
  5. Prepare closing entries
  6. Calculate the cost of goods sold
  7. Account for inventories, accounts receivables, plant assets, intangibles, current liabilities, and payroll liabilities.
  8. Apply the basic assumptions and principles of financial accounting.

WHEN YOU TAKE YOUR FINAL EXAM IN PRINCIPLES OF ACCOUNTING II (ACCOUNTING 2292), THAT EXAM WILL COVER THE MATERIAL IN THIS COURSE AS WELL AS THE MATERIAL IN ACCOUNTING 2292.

Approved Texts Accounting, Warren, C,S.; Reeve, J.M.;Duchac, J.E.; 24edition; Mason, OH; Thompson/South-Western.

Supplements (Optional) CengageNow. In order to do the homework you will need an access key. If you purchase a NEW text, the code will come with the text—it is on a piece of green cardboard approximately 5” by 7”. Do not throw it away. If your access code doesn’t work, contact me. A semester instant access code for Warren 24ed. should be available at:

&fieldValue=9781133365792

Mission & Vision Statements

TroyUniversityMissionStatement TroyUniversity is a public institution comprised of a network of campuses throughout Alabama and worldwide. International in scope, TroyUniversity 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. TroyUniversity'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.

SCOB Mission Statement Through operations that span the State of Alabama, the United States, and the world, Sorrell College of Business equips our students with the knowledge, skills, abilities and competencies to become organizational and community leaders who make a difference in the global village and global economy. Through this endeavor, we serve students, employers, faculty, and TroyUniversity at large as well as the local and global communities.

SCOBVisionStatementSorrellCollege of Business will be the first choice for higher business education students in their quest to succeed in a dynamic and global economy. Sorrell College of Business will create the model for 21st century business education and community service.

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.

Instructor Stan Lewis, DBA, CPA, CFE, CCEA

Office Location & Hours119Bibb-Graves Hall. Weekly you may contact me in person during the following days and time periods: Tuesday – 11:30am – 1pm;Wednesday 8 am - 2 pm; and Thursday – 8am – 10am & 11:30 - 1pm. I'm available by email at any time, or by telephone during my office hours (US CST/CDT).

Contact Information Telephone: 334-808-6164; 334-670-3136 (Administrative Assistant Ms. Patsy Brown); and 334-670-3592 (FAX). Email:

Class Location & Time Patterson Hall 101, 10am - 11:15am TTH

Exams There are three exams for the course. The dates are provided in the Course Schedule section (see below). Each exam will be closed book/closed notes and will consist of multiple choice questions. You may use a calculator. You may not use an English translation dictionary tool or device during the exam. You may not talk to other students, look on other students exams and answer sheets, exchange information, etc. during the exam. A valid student ID or the equivalent must be available at each examif requested by the instructor or exam proctor.

Assignments Homework is required in this course and counts 15% of the course grade. Homework will be done on the computer using a program called CengageNow. In order to do the homework you will need an access key. If you purchase a NEW text, the code will come with the text—it is on a piece of green cardboard approximately 5” by 7”. Do not throw it away. If your access code doesn’t work, contact me.

Calculators, Cell Phones & Other Electronic Devices 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. PLAIN CALCULATORS are the only mechanical and/or electronic devices that are allowed during exams. Translating devices (Electronic dictionaries) are not allowed.

Cellular phones, ear pieces, 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 Troy University “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.”

Photo ID Required For each exam you have available a valid student photo ID or theequivalentif requested by the instructor and/or exam proctor.

Grading Methods & Scale The following indicates the grading method:

Exams - 3 150 point exams / 450 points - divided among the chapters as shown in the "Course Schedule" section of the syllabus / 45 percent
Assignments / 150 points - CengageNow Homework (in total) / 15 percent
Class participation / 50 points - / 5 percent
COMPREHENSIVE Final Exam / 350 points - / 35 percent
A / 90 - 100 %
B / 80 - 89 %
C / 70 - 79 %
D / 60 - 69 %
F / Below 60 %
Normal math rounding is used

Class Procedures, Requirements & Expectations The student will be expected to:

  • Punctually attend all scheduled lectures (class periods). Students who arrive at class after the start of the lecture disturb others and be penalized.
  • If you drop this class, you will receive a grade of “DP” regardless of what your grade is at the time. A grade of “DP” does not affect your grade point average.
  • 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 dining room or cafeteria. Please do not plan on having breakfast or lunch 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.
  • Doing work for other classes during our class periods is not acceptable and it disturbs those around you in the class. When observed you will be asked to leave the class.

Americans WithDisabilities Act (ADA) Any student whose disabilities fall within ADA must inform the instructor at the beginning of the term of any special needs or equipment necessary to accomplish the requirements for this course. Students who have or may be dealing with a disability or learning difficulty should speak with the instructor and contact the Office of Adaptive Needs Program at call 670-3221/3222. Various accommodations are available through the Adaptive Needs Program.

Make-up & Attendance PolicyPhysical class meetings are part of this course and paying attention while in the classroom is expected in the course.

  • Make-up Work Policy You do not have to take the first three exams .They areoptional. If you do not take one (or more) of the first three exams, the grade you make on the final will count for the exam(s) you missed.
  • However, if you choose to take an exam and do poorly, don’t ask if we can “forget” about that grade, make it up, re-take the exam, etc. 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 EXAM.
  • Attendance will be taken at each class meeting, but will not count any part of the course grade.

Incomplete Grade Policy Missing any part of the Course Schedule may prevent completion of the course. If circumstances will prevent the student from completing the course by the end of the term we will follow university policy.

Cheating Policy If you are caught cheating, you will get a course grade of "F." See Student Handbook for the definition and university policy on cheating. Plagiarism is a form of cheating as is copying another’s assignments.

Course Schedule

Week & Dates / Activities
Assignments (Provided in CengageNow)
Week 1
Jan 12 / First Day of Class.
Course introduction and Chapter 1 - Introduction to Accounting and Business
Late registration ends January 13.
Week 2
Jan 17–19 / January 16 (Monday) - Martin Luther King, Jr. holiday.
January 17 - Last day to withdraw from University without owing full tuition, and last day to drop a course without financial penalty.
Chapter1 - Introduction to Accounting and Business and 2 - Analyzing Transactions
Assignment - complete
Week 3
Jan 24 – 26 / Chapter2 - Analyzing Transactions
Assignment -complete
Week 4
Jan 31 – Feb 2 / Chapter 3 - The Adjusting Process
Assignment - complete
Week 5
Feb 7–9 / Chapter4 - Completing the Accounting Cycle
Assignment - complete
Week 6
Feb 14–16 / Chapter 4 - Completing the Accounting Cycle
Exam 1 - Chapters 1, 2, 3, and 4.
Week 7
Feb 21– 23 / Chapter 6 - Accounting for Merchandising Businesses
Assignment - complete
Week 8
Feb 28–Mar 1 /

Chapter 7 - Inventories

Assignment - complete
Week 9
Mar 6 –8 /

Chapters 7 - Inventories and 8 - Sarbanes Oxley, Internal Controls and Cash

Assignment - complete
Week of
Mar 12 - 18 /

Spring break week. No classes held.

Week 10
Mar 20–22 /

Chapter8 - Sarbanes Oxley, Internal Controls and Cash

Assignment - complete
Week 11
Mar 27– 29 / Exam2 - Chapters 6, 7, and 8
Chapter 9 - Receivables
Assignment - complete
Week 12
Apr 3–5 / Chapters9 - Receivables and 10 - Fixed Assets and Intangible Assets
Assignment - complete
Week 13
Apr 10 -12 / Chapter 10 - Fixed Assets and Intangible Assets
Assignment - complete
Week 14
Apr 17–19 / Chapter 11 - Current Liabilities and Payroll
Assignment - complete
Week 15
Apr 24–26 / Chapter 11 - Current Liabilities and Payroll
Exam 3 - Chapters 9, 10, and 11
Week 16
May 1 - 3 / MAY 1 - LAST DAY OF CLASS - finish up
MAY 2 - DEAD DAY
UNDER NO CIRCUMSTANCES WILL YOU BE ALLOWED TO DROP THIS
COURSE AFTER MAY 2. THIS IS A COLLEGE OF BUSINESS POLICY.
Week of
May 7 / Comprehensive Final Exam, Monday, May 7, 11am - 1pm
IT MAY NOT BE TAKEN EARLY. DO NOT ASK FOR IT TO BE RESCHEDULED EARLY .

ACT 2291

Lewis