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ACC 200

Syllabus used in previous years. This is intended to give you an idea about the class. There is no guarantee that this reflects future syllabi.

CREDIT HOURS: 3

TITLE: Principles of Accounting I
 
Content Outline Grading Procedures Text & References Prerequisites

  1. CATALOG DESCRIPTION:
    An introduction to financial accounting from a “user” perspective. Emphasis will be on accounting concepts, financial reporting, and how decision-makers use accounting information. The course will concentrate on analyzing and interpreting accounting information and financial reports; communication of financial results to external users; and an introduction to business ethics.

  2. PURPOSE:
    To provide a framework for the process of identifying, measuring, and communicating economic information to permit informed judgments and decisions by users of the information. The emphasis will be on financial accounting from a user perspective.

  3. COURSE OBJECTIVES:
    1. To initiate the development of fundamental accounting concepts as a basis for understanding accounting processes.
    2. To emphasize accounting concepts rather than accounting procedures.
    3. To enhance the student’s understanding of how financial accounting information is used.
    4. To emphasize how business transactions and financial information affect the basic financial statements.
    5. To provide the student with an appreciation of why rather than how accounting is important in decision making.
    6. To provide a foundation for more intensive study of the accounting process.

  4. CONTENT OUTLINE:
    This course will focus on those areas discussed in Sections II, III, and IV above. The chapters of the text which will be covered include:

    Part One: Accounting as an Information System
      Chapter 1 - Uses of Accounting Information and the Financial Statements
      Chapter 2 - Measuring Business Transactions
      Chapter 3 - Measuring Business Income
      Chapter 4 - Accounting Systems
      Chapter 5 - Financial Reproting and Analysis

    Part Two: Measuring and Reporting the Operating Cycle
      Chapter 6 - Merchandising Operations and Internal Control
      Chapter 8 - Inventories
      Chapter 7 - Short-term Liquid Assets
      Chapter 9 - Current Liabilities

    Part Three: Measuring and Reproting Long-Term Assets and Long-Term Financing
      Chapter 10 - Long-Term Assets
      Chapter 11 - Long-Term Liabilities (pages 464 - 476)
      Chapter 12 - Contributed Capital

  5. INSTRUCTIONAL ACTIVITIES:
    The principal method of instruction delivery will be lecture. Problem solving and team learning will be an important part of the teaching process. Students will be called upon to express their views, explain homework assignments, and to elaborate on concepts introduced by the instructor. Advance preparation prior to each class meeting is critical to successful completion of the course.

  6. FIELD, CLINICAL, AND/OR LABORATORY EXPERIENCES:
    No specific field, clinical, or lab experience is mandated by the instructor. However, students are encouraged to attend seminars and lectures offered by the university, college, department, and various organizations (Accounting Society, Beta Alpha Psi, etc.) Familiarity with current business issues is desirable.

  7. RESOURCES:
    The principal resource for the course are the textbook, the Study Guide, and the Accounting Transaction Tutor CD. A calculator will be necessary for quizzes, exams, and in-class assignments. Calculators cannot be shared during quizzes or exams.

  8. GRADING PROCEDURES:
    1. GRADING FACTORS:
      Factor Final Grade %
      Exam 1 (Chapters 1-3)
      20%
      Exam 2 (Chapters 4-6)
      20%
      Exam 3 (Chapters 7-9)
      20%
      Exam 4 (Chapters 10-12)
      20%
      Chapter Quizzes*
      20%

    2. GRADING SCALE:
      Average   Grade
      90% or above       A
      80 - 89%       B
      70 - 79%       C
      60 - 69%       D
      Below 60%       E

      *Twelve chapter quizzes will be given. Each quiz will be 10 points. The two lowest quiz scores will be dropped. Quizzes cannot be made up or taken late.

    3. EXAMINATIONS:
      All examinations in ACC 200 are "closed" exams. Notes, textbooks, and any other reference materials cannot be used during exams. This includes electronic dictionaries. All test material are to be turned in when the examinatoin period ends. When the review of a graded exam is taking place, notetaking is not permitted

    4. MAKE-UP EXAMS:
      Makepup exams are not normally given. In extreme cases, a make-up exam may be given if (1) the reason for missing the regular exam is beyond the control of the student and (2) the student obtains prior approval from the instructor. Students not recieving prior approval from the instructor to schedule a make-up exam will recieve a zero for the missed exam. Make-up exams will be given on a single date scheduled for the end of the semester.

    5. GRADED MATERIAL:
      Students are encouraged to maintain a record of all graded materials. Exams will be temporarily returned so you can review your test score. At the end of the review, all exams will be collected by the instructor; more detailed review, if requested by the student, may be completed in the instructor’s office.

    6. SOLUTIONS MANUAL:
      A solutions manual for all book problems is available in the Accounting departmental office. The manual cannot be removed from the office. Electronic copies cannot be made. The manual also has been placed on reserve in Waterfield Library.

    7. CLASS PREPARATION:
      All students are expected to read the assigned material prior to coming to class. Also, timely completion of homework (i.e. before class discussion) is essential to your success  in this course!

    8. CLASS DIFFICULTIES:
      You are encouraged not to fall behind. Consult with the instructor soon if difficulties arise.

    9. TUTORING:
      Tutoring sessions will be conducted by Beta Alpha Psi (national accounting professional and honorary faternity). All students are encouraged to attend these tutoring sesions for assistance with homework and preparation for exams.

  9. ATTENDANCE POLICY:
    Students are expected to attend class. The university's attendance policy, the policy for withdrawing from classes, and the policy for auditing classes will be consistently followed. Attendence will be taken each class period. Late arrivals and early departures disturb the instructor and other students ans will not be tolerated (except in emergencies). Attendance and tardiness records will be used to determine final course grades in borderline cases. If you miss a class, it is your responsibility to obtain lecture notes, announcements, and any changes in dates from another student. The instructor's office hours are not intended for individual class sessions.

  10. ACADEMIC HONESTY POLICY:
    The Academic Dishonesty Policy of the College of Business and Public Affairs will be consistently followed. A copy of this policy on academic dishonesty is posted in each classroom. If it is determined that a student has cheated on an exam or quiz, the student will receive an E for the course.

  11. HANDICAP PROVISIONS:
    Students requiring special assistance due to a disability should inform the instructor as soon as possible.

  12. TEXT AND REFERENCES:
    Needles, Powers, Mills, and Anderson, Financial and Managerial Accounting, 5th Edition, Houghton Mifflin. The study guide is strongly recommended

  13. PREREQUISITES:
    None. First semester freshmen are strongly encouraged not to enroll in this class. This class is a prerequisite for ACC 202. Students pursuing the area of accounting or accounting/computer information systems should take ACC 201 and ACC 202 next semester. Both are prerequisites for ACC 300. In addition, ACC 300 requires a minimum grade of "C" in ACC 200, 201, and 202

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