ACCT 2101 Syllabus Spring 2022 MW 1230 Class PDF

Preview

Summary

Syllabus for Kris Clark...

Description

ACCT 2101 Principles of Accounting I Spring 2022 Section 004, CRN 11759, MW 12:30 – 1:45 pm

INSTRUCTOR: OFFICE: PHONE: E-MAIL: OFFICE HOURS:

Kris Clark 543 Robinson College of Business 404-413-7208 [email protected] 2:30 – 4:00 pm Monday and Wednesday and by appointment.

REQUIRED MATERIALS: ▪

▪

Kimmel, Weygandt, & Kieso, Accounting Tools for Business Decision Making, 7th Edition, ebook with WileyPLUS. This textbook is used for both acct 2101 and acct 2102. Students can purchase the required access code from the GSU bookstore or directly from Wiley. If purchased from the bookstore, there are two options: ISBN 9781119494898 for two semester (12 month) access or ISBN 9781119659846 for one semester (6 month) access. Similar options are available if purchased directly from Wiley as part of the registration process. Instructions for registering on WileyPlus have been posted on iCollege. Ability to access the internet with the appropriate computer, browser, and network capabilities required for iCollege and WileyPlus.

COURSE DESCRIPTION: Principles of Accounting I is an introduction to the principles of financial accounting. The course focuses on analyzing business transactions to chart their effects on the results of operations, the cash flows, and the financial position of businesses organized for profit. Emphasis is placed on using financial information from a decision-making perspective to optimize the outcomes of business decisions. Topics include recording, reporting, and analyzing assets, liabilities, stockholders’ equity, revenues, and expenses. 3.0 Credit Hours.

COURSE OBJECTIVES: Upon successful completion of ACCT 2101, students will be able to: 1. Represent business transactions in the accounting information system. 2. Evaluate the usefulness of accounting information to stakeholders making business decisions.

ACCOUNTING LAB/TUTORS: An accounting lab staffed by four teaching assistants will have in person and virtual lab hours to provide tutorial assistance to acct 2101 students. In person lab hours are held in room 527 (5th floor) in the Robinson College of Business building located at 35 Broad Street. The lab will be open January 10, 2022 through April 29, 2022 as follows: In Person Lab Hours (527 RCB): Monday 1:00 – 7:00 pm Tuesday 10:00 am – 4:00 pm Wednesday 10:00 am – 1:00 pm Thursday 10:00 am – 7:00 pm The in person accounting lab will be open from 10:00 am – 6:00 pm the following three Fridays: February 11th, April 1st, and April 29th. Virtual Lab Hours: Monday 4:00 – 7:00 pm https://gsumeetings.webex.com/meet/ecabrera5 Tuesday 1:00 – 4:00 pm https://gsumeetings.webex.com/meet/qabbey1 Wednesday 1:00 – 4:00 pm https://gsumeetings.webex.com/meet/mwynne2 Thursday 10:00 am – 1:00 pm https://gsumeetings.webex.com/meet/amoran5 Click on the appropriate link above. You will need to install GSU’s webex software. If you require additional technical support, please refer to GSU’s WebEx help page or contact the GSU IT Support Desk at 404-413-4357.

ATTENDANCE AND PREPARATION: Attending class is essential to your learning and allows you to get class activity points (see class activity paragraph below). Research shows that attendance/participation is a good predictor of performance. Students are expected to come to class prepared by watching the applicable prerecorded videos in the content section on iCollege. You should plan to spend six hours a week outside of class on the course.

ACCOMMODATIONS OR SPECIAL NEEDS: Students who wish to request accommodation for a disability may do so by registering with the Access and Accommodations Center. Students may only be accommodated upon issuance by the Access and Accommodations Center of an accommodation plan and are responsible for providing a copy of that plan to instructors of all classes in which accommodations are sought.

ICOLLEGE: This course uses iCollege for communication purposes, pre-recorded lectures on the learning objectives, and gradebook items. iCollege can be accessed from a link on the Georgia State University homepage. NOTE: iCollege can have maintenance periods on weekends. Please adjust your study schedule as needed.

GSU ACADEMIC HONESTY POLICY: All university and college regulations concerning academic honesty shall apply. In general, students are expected to recognize and uphold standards of intellectual and academic integrity. The university assumes as a minimum standard of conduct in academic matters that students be honest and that they submit for credit only the product of their own efforts. It is particularly important that students read and understand the portions of the University Policy on Academic Honesty that relate to plagiarism, unauthorized collaboration, falsification, and multiple submissions. The University Policy on Academic Honesty is explained in detail at http://studenthandbook.gsu.edu/ . All members of the University community are responsible for knowing and abiding by its tenets. Students are expected to carefully review the online Policy prior to undertaking any research or other assignments. Students are encouraged to discuss freely with faculty any questions they may have pertaining to the provisions of the Policy on Academic Honesty prior to submitting assignments. Lack of knowledge of the contents of the University Policy on Academic Honesty is not an acceptable defense to any charge of academic dishonesty.

GSU POLICY PROHIBITING STUDENTS FROM POSTING INSTRUCTORGENERATED MATERIALS ON EXTERNAL SITES: The selling, sharing, publishing, presenting, or distributing of instructor-prepared course lecture notes, videos, audio recordings, or any other instructor-produced materials from any course for any commercial purpose is strictly prohibited unless explicit written permission is granted in advance by the course instructor. This includes posting any materials on websites such as Chegg, Course Hero, OneClass, Stuvia, StuDocu and other similar sites. Unauthorized sale or commercial distribution of such material is a violation of the instructor’s intellectual property and the privacy rights of students attending the class and is prohibited. This policy was approved by the GSU Faculty Senate on August 21, 2020.

GSU WITHDRAWAL POLICY You are responsible for understanding and adhering to the University withdrawal policy which is described at www.gsu.edu/registrar/withdrawals.html

STUDENT ASSESSMENT: Your constructive assessment of this course plays an indispensable role in shaping education at Georgia State. Upon completing the course, please take time to fill out the online course evaluation.

GRADING POLICY: Midterm 1 (Chapters 1 – 4) Midterm 2 (Chapters 5 – 9) Class Activities WileyPlus Chapter Assignments Comprehensive Final Exam

250 250 50 200 250 1,000

Grading is based on “A+” 975 – 1,000 points (of all course requirements), “A” 925 – 974 points, “A-” 900 – 924 points, “B+” 875 – 899 points, “B” 825- 874 points, “B-” 800 – 824 points, “C+” 750 – 799 points, “C” 700 – 749 points, “C-” 650 – 699 points, “D” 550 – 649 points, and “F” fewer than 550 points. Computation of grades at semester end is strictly mathematical. Total points are calculated to two decimal points and then rounded to the appropriate whole number. Total points with decimals of .50 and higher, round up. Total points with decimals of less than .50, round down. There is no “extra credit” assignment to make up for not meeting the learning objectives in the assignments given. ACCT 2101 is a prerequisite to ACCT 2102. Students must receive a grade of C- or better in ACCT 2101 in order to take ACCT 2102. Accounting majors must have a B or better in both ACCT 2101 and ACCT 2102.

INCOMPLETE GRADES: We do not give incomplete grades in this course, except for cases where a student missed the final examination for an emergency, excusable reason where documentation can be provided. Students must be passing the course with a grade of C- or better to be eligible for a grade of incomplete. According to GSU policy, the grade will automatically be converted to an F if it is not removed by the end of the second academic term after the “I” is assigned.

EXAMINATIONS: Acct 2101 exams are on Saturdays. Refer to the course schedule at the end of the syllabus for specific exam dates and times. Students should adjust their calendar to allow plenty of time both before and after the Saturday exam times. Exam room assignments and a study guide will be posted on iCollege 10 days prior to each exam.

Please bring a form 882-E scantron (including extras as erasures are not always graded properly by the machine), a number 2 pencil(s), (NOTE: Mechanical pencils are not all number 2 pencils so please bring a regular pencil.) a simple four function calculator, and a picture ID to all exams. Remember, the scantron is considered the judge and jury. Do not erase. Be very careful. Scantrons are NOT regraded if you mismark them. During the exam period, cell phones and all devices that can connect to the internet need to be turned off and stored out of sight. Any cell phones or internet devices seen by an exam proctor during the exam period will result in a grade of zero on the exam. If you have a conflict with a scheduled exam, you must email Kris Clark at [email protected] explaining the nature of the conflict in order to be approved to take the conflict exam. You will be required to provide supporting documentation. This notification and approval process also includes exams administered through the Access and Accommodations Center and/or those students with religious, military, or GSU athletic obligations that would prevent them from taking the Saturday exam. Conflict exams will be the Friday immediately before the Saturday exam from 1:30 – 3:30 pm EST. Exam room information will be emailed to the students who are approved to take the conflict exam the week prior to the exam. If you miss a midterm exam for an emergency purpose (very rare, documentation required), your final exam score will be re-weighted to include those points. Emergency documentation must show that the emergency interfered with the day and time of the scheduled exam and come from an independent third party. Students who miss the final exam due to an emergency situation must contact the instructor as soon as possible. Documentation of the emergency situation will be required.

CLASS ACTIVITIES: Class activity points will be awarded based upon your attendance and participation in 6 class activities. Each class activity is worth 10 points with the maximum points in this category being 50. This allows each student to miss one class activity. Students can only receive credit for class activities by attending the class they are registered for and turning in the class activity immediately following the class activity. Turning in a class activity for another student results in both students receiving 0 participation points for the entire semester. There are no makeup class activity points. Class sessions where class activities will be collected are not announced prior to the class activity.

WileyPLUS ASSIGNMENTS: Each chapter covered in Acct 2101 will have a corresponding online homework assignment to be completed through WileyPLUS. Students can earn up to 20 points for each chapter homework assignment they complete by the appropriate chapter deadline (see syllabus course schedule). Twelve chapters assignments worth 20 points each result in 240 available points; however, maximum points for this grading component are 200. There are no alternative assignments or extensions for failing to complete these assignments by the due dates. WileyPlus has maintenance, service updates, and glitches just like all technology products. Please do not leave your homework to the last minute as you risk not completing an assignment if the glitch happens then!

Principles of Accounting 1 (ACCT 2101) Spring 2022 Course Schedule Topic Coverage

Class

Assignments

Chapter 1: Introduction to Financial Statements LO 1: Identify the forms of business organization and the uses of accounting information. LO 2: Explain the three principal types of business activity. LO 3: Describe the four financial statements and how they are prepared.

Monday, January 10th and Wednesday, January 12th, 12:30 – 1:45 pm

Chapter 1 due Tuesday, January 18th, at 7:00 pm (Tuesday date due to Monday holiday.)

Exams

Monday, January 17th, MLK Holiday – University Closed – No Classes Chapter 2: A Further Look at Financial Statements LO 1: Identify the sections of a classified balance sheet. LO 2: Use ratios to evaluate a company’s profitability, liquidity, and solvency. LO 3: Discuss financial reporting concepts.

Wednesday, January 19th, and Monday, January 24th, 12:30 – 1:45 pm

Chapter 2 due Monday, January 31st, at 7:00 pm

Topic Coverage

Class

Assignments

Chapter 3: The Accounting Information System LO 1: Analyze the effect of business transactions on the basic accounting equation. LO 2: Explain how accounts, debits, and credits are used to record business transactions. LO 3: Indicate how a journal is used in the recording process. LO 4: Explain how a ledger and posting help in the recording process. LO 5: Prepare a trial balance.

Wednesday, January 26th, and Monday, January 31st, 12:30 – 1:45 pm

Chapter 3 due Monday, February 7th, at 7:00 pm

Chapter 4: Accrual Accounting Concepts LO 1: Explain the accrual basis of accounting and the reasons for adjusting entries. LO 2: Prepare adjusting entries for deferrals. LO 3: Prepare adjusting entries for accruals. LO 4: Prepare an adjusted trial balance and closing entries.

Wednesday, February 2nd, Monday, February 7th, and Wednesday, February 9th, 12:30 – 1:45 pm

Chapter 4 due Friday, February 11th, at 7:00 pm (Friday date due to Saturday exam.)

Midterm 1: Chapters 1 - 4 Study Guide and Exam Rooms Posted on iCollege

Exams

Saturday, February 12th, 10:00 am – 12:00 pm

Topic Coverage

Class

No Class

Monday, February 14th

Chapter 5: Merchandising Operations and the Multiple-Step Income Statement LO 1: Describe merchandising operations and inventory systems. LO 2: Record purchases under a perpetual inventory system. LO 3: Record sales under a perpetual inventory system. LO 4: Prepare a multiple-step income statement and a comprehensive income statement. LO 5: Determine cost of goods sold under a periodic inventory system. LO 6: Compute and analyze gross profit rate and profit margin.

Wednesday, February 16th, and Monday, February 21st, 12:30 – 1:45 pm

Chapter 5 due Monday, February 28th, at 7:00 pm

Wednesday, February 23rd, and Monday, February 28th, 12:30 – 1:45 pm

Chapter 6 due Monday, March 7th, at 7:00 pm

Chapter 6: Reporting and Analyzing Inventory LO 1: Discuss how to classify and determine inventory. LO 2: Apply inventory cost flow methods and discuss their financial effects. LO 3: Explain the statement presentation and analysis of inventory.

Assignments

Exams

Topic Coverage

Class

Assignments

Chapter 7: Fraud, Internal Control, and Cash LO 1: Define fraud and the principles of internal control. LO 2: Apply internal control principles to cash. LO 3: Identify the control features of a bank account. LO 4: Explain the reporting of cash and the basic principles of cash management.

Wednesday, March 2nd, and Monday, March 7th, 12:30 – 1:45 pm

Chapter 7 due Monday, March 21st, at 7:00 pm (Extra week due to spring break.)

Chapter 8: Reporting and Analyzing Receivables LO 1: Explain how companies recognize accounts receivable. LO 2: Describe how companies value accounts receivable and record their disposition. LO 3: Explain how companies recognize, value, and dispose of notes receivable. LO 4: Describe the statement presentation of receivables and the principles of receivables management.

Wednesday, March 9th, and Monday, March 21st 12:30 – 1:45 pm (Spring Break March 14 – 20.)

Chapter 8 due Monday, March 28th, at 7:00 pm

Chapter 9: Reporting and Analyzing Long-Lived Assets LO 1: Explain the accounting for plant asset expenditures. LO 2: Apply depreciation methods to plant assets. LO 3: Explain how to account for the disposal of plant assets. LO 4: Identify the basic issues related to reporting intangible assets. LO 5: Discuss how long-lived assets are reported and analyzed.

Wednesday, March 23rd, and Monday, March 28th, 12:30 – 1:45 pm

Chapter 9 due Friday, April 1st, at 7:00 pm (Friday date due to Saturday exam.)

Exams

Topic Coverage

Class

No Class

Wednesday, March 30th

Assignments

Exams

Saturday, April 2nd, 10:00 am – 12:00 pm

Midterm 2: Chapters 5 - 9 Study Guide and Exam Rooms Posted on iCollege

Chapter 10: Reporting and Analyzing Liabilities LO 1: Explain how to account for current liabilities. LO 2: Describe the major characteristics of bonds. LO 3: Explain how to account for bond transactions. LO 4: Discuss how liabilities are reported and analyzed.

Monday, April 4th, and Wednesday, April 6th, 12:30 – 1:45 pm

Chapter 10 due Monday, April 11th, at 7:00 pm

Chapter 11: Reporting and Analyzing Stockholders’ Equity LO 1: Discuss the major characteristics of a corporation. LO 2: Explain how to account for the issuance of common, preferred, and treasury stock. LO 3: Explain how to account for cash dividends, stock dividends, and stock splits. LO 4: Discuss how stockholders' equity is reported and analyzed.

Monday, April 11th, and Wednesday, April 13th, 12:30 – 1:45 pm

Chapter 11 due Monday, April 18th, at 7:00 pm

Topic Coverage

Class

Assignments

Chapter 12: Statement of Cash Flows LO 1: Discuss the usefulness and format of the statement of cash flows. LO 2: Prepare a statement of cash flows using the indirect method. LO 3: Use the statement of cash flows to evaluate a company.

Monday, April 18th, and Wednesday, April 20th, 12:30 – 1:45 pm

Chapter 12 due Monday, April 25th, at 7:00 pm

Review Day

Monday, April 25th, 12:30 – 1:45 pm

Final Exam: Chapters 1- 12 Study Guide and Exam Rooms Posted on iCollege.

Exams

Saturday, April 30th, 8:15 – 10:15 am

The course syllabus provides a general plan for the course; deviations may be necessary....