ACCT 2300
Financial Accounting
Fall 2007
Dr. Judy Lewis’s Sections
Name: Dr. Judy Lewis Office No: BA405
Phone No. 742-2047 Office Hours: MWF 11-12 and by
appointment
E-mail address:
judy.d.lewis@ttu.edu
Required Course Materials:
Financial Accounting, 5th ed., Porter & Norton, softbound packet (We will be doing homework on Web CT, so you can get by with purchasing a used book).
Four-Function Calculator. A
four-function calculator is one that has the following functions: adding,
subtracting, multiplying, and dividing.
The calculator may also have: a) a % key, b) a
square root key, and c) a single-number memory. Use of ANY OTHER type of calculator is not permitted.
Four orange scantrons, due Monday, Oct. 1st.
Course Objectives:
Accounting is the language of business. Mastery of this language is imperative
for long run business success – those who understand accounting can better
analyze the operations of a business,
its financial position, and its future
prospects. A solid grasp of accounting strengthens one’s ability to make good
financial and economic decisions. It will render you better able to choose
between alternative investment options, better able to make appropriate pricing
decisions, better able to manage costs, better able to allocate resources
between different departments of divisions
within a business and generally
better able to distinguish good companies, and good managers, from those whose
talents and prospects are only average or worse.
Learning Outcomes:
Upon successfully completing this course, students will be able to:
· Describe the objectives of financial reporting
· Understand the accounting cycle
· Identify account names and their characteristics
· Demonstrate the effect of business transactions on the accounting equation
· Apply accounting assumptions, principles, and constraints to measure, record, and interpret business transactions
· Use the rules of debit and credit to record transactions
· Combine individual measurements of accounting elements into financial statements
· Demonstrate an understanding of the relationships of the elements on the financial statements
Assessment Methods
The expected learning outcomes for the course will be assessed through exams,
in-class application activities, homework, and quizzes. To be successful, you
must devote sufficient time and
attention to homework and assignments. Although
they count, in the aggregate, for 20% of your final course grade, those who do
not actively participate in the learning process, through
completion of these
activities and reading assignments, will find that they do not do as well on
examinations. Thus, homework, assignments, etc., will have an indirect impact
on your final
course grade as well.
Course Grade Determination:
Students wanting to major in ACCOUNTING or
FINANCE must make an A or B in Accounting 2300.
Course activities will carry the following weights:
Regular Exams
(3)
300 points
Final Exam –
Comprehensive 100
points
Class quizzes and other
assignments 50 points
Homework
50 points
Total 500
To receive an A, you must accumulate 450 points; for a B, you must accumulate
400 points, 350 for a C and 300 for a D.
Students wanting to major in
ACCOUNTING or FINANCE must make an A or B in Accounting 2300.
Please note that the grading process is a
mathematical calculation of the components listed above. Your grade is not
negotiable or open for bid at the end of the semester. Extra credit is not
available.
All students will be graded equally and fairly. If you come to
class regularly, read the assigned material, do the assigned exercises,
participate in class discussion and group work activities, and
study for the
exams, you should do well in this course and feel good about what you have
achieved. Your success is important to us.
Quizzes
will be given in class. There are no make up quizzes. In order to accommodate
for absences, tardiness, etc., the lowest one-fourth of the quiz scores
will be dropped.
The average of the highest three-fourths of your quiz scores
will be weighted 10% of your course grade (which is the equivalent of 50
points). If the quiz is given at the
beginning of class, and you come in late, you
will not be given the quiz, so it is to your benefit to be in class on time.
Your homework assignments
must be completed over the internet, using Web CT. Unless otherwise
noted by me, your homework assignments are due by midnight on Sunday following
our Friday class time. Homework will count as 10% of your course grade
(or 50 points of the total 500 points). You make miss 10% of the total
possible homework points without being penalized,
in order to accommodate for
any contingencies – i.e., website not working, your computer breaking down,
problem being “misgraded”, etc. At the end of the semester, I will
take 90% of the total possible homework points
and treat that as if it was 100%. Quizzes on WebCT are given for your benefit,
but are not included in your course grade.
The Web CT portal can be reached at
http://webct.tltc.ttu.edu
Exams
The regular exams and final
exam are uniform for all ACCT 2300 Financial Accounting classes. The final exam
will be comprehensive.
All regular exams are
scheduled from 6:30 to 8:00 p.m. in the evening. The final exam will be
given on Saturday afternoon, Dec. 8.
If one of the regular exams must be missed due to official university activities, the student will be allowed to take the exam early if prior notification is provided. If one of the regular exams must be missed due to a legitimate reason approved by the instructor (illness, death in family), the student will be allowed to double the comprehensive final exam. Exams generally will not be taken late.
A photo ID and a 4-function calculator is required for all exams. You must be on my roll to sit for an exam. NO hat/head covering of any kind can be worn during the exam. No study materials (books, book bags, notes, handouts, flashcards, etc.) can be brought to your seat. If there is room at the front or back of the classroom, you may leave your materials there. If not, you will be required to leave them unattended outside the classroom. NO cell phones or any other electronic devices will be allowed on your person.
These items should be left at home, or in your book bag (or purse). All cell phones must be turned OFF so that they make no sound of any kind (ring, buzz, vibration, melody, etc.) It is possible there will be a point reduction of your exam score for violation of these exam rules.
Should a student deem it necessary to leave the classroom during an exam or quiz for any reason, he/she must give the exam or quiz to the instructor before leaving. Should the student wish to return to class to finish the exam or quiz, 20 points will be deducted from the exam or quiz score.
Graded exams are not returned to the student. Graded exams will be kept by the instructor until the end of the semester. Students may review the graded exams during scheduled office hours or by appointment for one week after the exam grade has been posted.
Attendance Policy
Students are expected to
attend class regularly in a timely manner. After a student has missed six (6)classes, three points will
be subtracted from the student’s final course grade for each additional absence.
There will be an attendance sheet circulated at the beginning of class to be signed by each student. It is the student’s responsibility to see that he has signed the attendance sheet each day. If a student is late for class or the attendance sheet failed to reach that student during class for whatever reason, he is responsible for signing the sheet before he leaves the classroom at the end of class.
Academic Dishonesty
Cheating will absolutely not be tolerated. Any student found cheating on any assignment will receive an F for the course. In egregious circumstances, your instructor, with the full support of the Director of the Area of Accounting, will pursue more substantial sanctions, up to and including expulsion from the College or University. Do not test this policy. Integrity is a minimum requirement for all students participating in accounting courses in the College of Business. Those who lack it should not plan to enroll in subsequent accounting courses.
Disabling Conditions:
Any student who, because of
a disability, may require special arrangements in order to meet the
course requirements should contact the instructor as soon as possible to make
any necessary
arrangements. Students should present appropriate verification from Student
Disability
Services during the instructor’s office hours. Please note instructors are not
allowed to provide
classroom accommodations to a student until appropriate verification from
Student Disability
Services has been provided. For additional information, you may contact the
Student Disability
Services office at 335 West Hall or 806-742-2405.
Civility in the classroom
The Texas Tech University Provost has asked that the following statement be included in this syllabus:
“Students
are expected to assist in maintaining a classroom environment which is conducive
to
learning.
In order to assure that all students have an opportunity to gain from time spent
in class,
unless
otherwise approved by the instructor, students are prohibited from using
electronic devices,
challenging
instructor’s authority, eating or drinking in class, coming in late or leaving
early,
making
offensive remarks, reading newspapers, sleeping or engaging in any other form of
distraction.
Inappropriate behavior in the classroom shall result in,
minimally, a request to leave
class.”
Religious Holidays
A student who is absent due to a religious holy day will be allowed to take an exam or complete an assignment missed on that day. Arrangements should be made with the instructor prior to the religious holy day.
Changes
Any changes in assignments or due dates will be announced in class. It is the responsibility of each student to attend class and become aware of such changes.
Schedule of Activities
Chapter Week of Topic Reading and Homework
Introduction Aug. 27 Getting Started in Business
1 & 2 Aug. 27 Accounting as a Form of Communication E1-5, E1-6, E1-7, E1-10, P1-5
LABOR DAY HOLIDAY, SEPT. 3
2 & 3
Sept. 3 Financial Statements & the Annual Report E 2-1, E
2-2, E 2-5, E 2-8
P 2-3, P 2-7
3
Sept. 10 Processing Accounting Information E
3-3, E 3-6, E 3-9, E 3-10
P 3-9, P 3-10
4
Sept. 17 Income Measurement and Accrual E
4-15, E 4-16, E 4-20
Accounting
4
Sept. 24 Income Measurement and Accrual E
4-29, P 4-1
Accounting
EXAM 1 Tuesday, Oct. 2, 6:30 – 8PM
5
Oct. 1 Inventories & Cost of Goods Sold
E 5-1, E 5-7, E 5-11, E 5-12
E 5-14, P 5-11
6 & 7 Oct. 8 Cash & Internal Control E 6-2, P 6-1
FALL BREAK, OCT. 12
7 Oct. 15 Investments & Receivables E 7-6, P 7-1, P 7-2
EXAM 2 Tuesday, Oct. 23, 6:30 – 8PM
8
Oct. 22 Operating
Assets E 8-1, E 8-3, E 8-4,
E 8-5,
E 8-6, E 8-7, E 8-11
LAST DAY TO DROP, TUESDAY,
OCTOBER 30
9
Oct. 29 Current
Liabilities E 9-1, E 9-5, E
9-7, E 9-12,
E 9-17, E 9-18
10 Nov. 5 Long Term Liabilities E 10-2, E 10-3, E 10-18
10 Nov. 12 Long Term Liabilities P 10-9, P 10-9A
EXAM 3 Monday, Nov. 19, 6:30 -- 8PM
11
Nov. 19 Stockholders’
Equity E 11-3, E 11-4, E 11-5,
E 11-6, E 11-7, E 11-8
THANKSGIVING HOLIDAY, NOV. 21 - 25
11 & 12 Nov. 26 Statement of Cash Flows E 12-2, E 12-9, E 12-10
12 Dec. 3 Statement of Cash Flows E 12-12, E 12-13, P 12-1
FINAL EXAM Saturday, Dec. 8, 3 – 5PM