Course Title:                 Principles of Financial Accounting

 

Course Number:            ACG 2021

 

Instructor:                     Deborah Hinton

 

Contact Information:      E-mail – deborahhinton@sjrcc.edu

                                    Phone number – 386-312-4215

                                    Office – L - 226

                                    Office Location – Upstairs in the Library Building

 

Office Hours:                8:00 a.m. - 11:00 a.m. Monday
                                     8:00 a.m. - 9:00 a.m. - Tuesday and Thursday
                                     2:00 p.m. - 5:00 p.m. - Wednesday
                                     8:00 a.m. - 10:00 a.m. - Friday

 

Required Text:              Financial & Managerial Accounting, 8th Edition by Warren, Reeve, Fess

 

SJRCC Catalog

Description:                   The course is designed to familiarize the student with the theory, logic, and concepts used in financial accounting.  Course content includes:                         journalizing, posting, preparing a trial balance, adjustments, corrections, and closing; preparation of the income statement, balance sheet,                        changes to owners’ equity, and cash flow statement; current assets, inventory, long-term assets and liabilities; corporate capital structure,                        retained earnings, and financial statement analysis.  Emphasis is placed on comprehension of accounting principles and concepts in addition to                        mastery of accounting skills.

 

Course Objectives:        Upon successful completion of this course, the student should be able to:

                    1.         Identify the debits and credits relevant to particular transactions

                    2.         Make accurate journal entries

                    3.         Post General Ledger entries from journals

                    4.         Use General Ledger accounts to create:

                     a)         An Income Statement

                     b)         A Balance Sheet

                     c)         A Statement of Changes in Owner’s Equity

                     d)         A Statement of Cash Flows

                     e)         Adjusting entries

                     f)          Closing entries

                    5.         Demonstrate appreciation of the usefulness of various accounting systems.

                    6.         Demonstrate concern for conscientiousness and accuracy in all transactions.

                    7.         Achieve an awareness of the advantages and the limitations of accounting data as a facilitator for business decision making.

                    8.         Become cognizant of the moral and ethical questions involved in the accounting process and helped to understand why ethics is such an                                 important aspect of accounting.

 

 

Academic Integrity:    Students in this class must know, observe, and not compromise the principles of academic integrity. It is not permissible                         to cheat, to fabricate or falsify information, to submit the same academic work in more than one course without prior permission,                         to plagiarize, to receive unfair advantage, or to otherwise abuse accepted practices for handling and documenting information.                           The grade for this course includes the judgment that the student’s work is free from academic dishonesty of any type. Violations                          or infractions will be reported to the Vice President for Student Affairs and may lead to failure of the course and other sanctions                         imposed by the College.

 

Grading:                        Classroom attendance is very important in this class to understand the course content and building block concepts of accounting through the various cycles.

 

                                    There will be 4 tests.  There will also be 13 turn-in homework assignments.

 

                                    Tests (4)                       400 points (100 points each)

                                    Homework                    120 points (10 points each – best 12 of 13)

                                    Total Points                   520 points

 

                                    Extra Credit – You can earn extra credit by working the Xtra! Quizzing test after each chapter.  Each test is worth 2 points if you make at least 60%.  The tests can be found on the website, warrenxtra.swlearning.com. You will choose the book we are using, and access the site using your user name and password.  You then select the chapter you want, and then click on Xtra! Quizzing.  Fill in your name and your e-mail address.  There is a space for you to fill in my e-mail address so the test will be emailed to me.

 

Grading Scale:               A = 468 – 520

                                    B = 416 – 467

                                    C = 364 – 415

                                    D = 312 – 363

                                    F = Below 312

 

Absences:                     As stated in the student handbook you may receive an instructor warning when you have missed the equivalent of three 50-minute class                                             periods regardless of the reason and may be withdrawn from the course by the instructor after the fourth 50-minute absence. It is the                                     student’s responsibility to withdraw from class. Do not assume that the instructor will withdraw you. Do not stop coming to class without                                    withdrawing officially – protect your GPA. Withdrawal forms are available from the Records Office on the Palatka Campus and from                                    the Administration area of other campuses. 

 

Make-up Policy:            If you know you are going to be absent on a major test day, please make arrangements to take the test ahead of time.


 

 

Course Calendar:

 

Date

Classwork

Homework

Jan 2

Classes start, Introduction, Discuss Chapter 1, work exercises 3, 4, 7, 9, 10, 17, and 18

Read Chapter One, Read Chapter Two and Three

Jan 9

Discuss Chapter 2, work exercises 1, 8, 12, and 24 and Discuss Chapter 3, work exercises 1, 3, 4, 6, 8, 10, 11, 19, 22, and 23. 

Read Chapter Four

Jan 15

Holiday

 

Jan 16

Discuss Chapter 4, work exercises 1, 2, 3, 10, 15, 16, 17, 19, 20, 23, and 24

Continuing Problem page 95 due (parts 2, 3, and 4), and Continuing Problem page 135 due (parts 1, 2, and 3), Study for Test

Jan 23

Test One – Chapters 1 - 4

Continuing Problem page 183 due (parts 2, 3, and 4), Read Chapter Five

Jan 30

Discuss Chapter 5, work exercises 1, 6, 7, 8, 9, and 10

Read Chapter Six and Seven

Feb 6

Discuss Chapter 6, work exercises 1, 3, 9, 11, 15, 17, and 18, and Discuss Chapter 7, work exercises 9, 11, 12, 15, 18, and 19

Problem 5-3A due, Read Chapter Eight

Feb 13

Discuss Chapter 8, work exercises 3, 12, 15, 18, 19, and 21

Problem 6-3A due, Problem 7-4A due, Study for Test

Feb 20

Test Two – Chapters 5 - 8

 Exercise 8-11 due, Read Chapter Nine and Ten

Feb 27

Discuss Chapter 9, work exercises 1, 3, 6, 7, 11, 12, 14, 19, 20, and 29, and Discuss Chapter 10, work exercises 3, 7, 11, and 16

Read Chapter Eleven

Mar 6

Discuss Chapter 11, work exercises 1, 6, 11, 13, and 16,

Problem 9-4A due, Problem 10-1A due, Study for Test

Mar 13

Test Three – Chapters 9 - 11

Read Chapter Twelve

Mar 16

Last Day to Withdraw with a “W”

 

Mar 19 - 23

Spring Break

 

Mar 27

Discuss Chapter 12, work exercises 2, 5, 11, 14, 25, and Problem 12-4A

Problem 11-3A due, Read Chapter Thirteen

Apr 3

Discuss Chapter 13, work exercises 12, 13, 14, 18, 20, and 21

Problem 12-4B due, Read Chapter Fourteen

Apr 10

Discuss Chapter 14, work exercises 3, 4, 7, 8, 16, and 17

Problem 13-6A due, Study for Test

Apr 17

Test Four – Chapters 12 - 14

Problem 14-1A due

Apr 24

Classes End 5:00 p.m.