Principles of Accounting 1

Course Description                                                    Fall 2018 Syllabus                                                                      FAQS 

Introduction to financial accounting concepts. Emphasis is placed on the accounting cycle.

Course Prerequisites and Credit Hours and Time Commitments

Principles of Accounting 1 (ACG 2021) 3 credits
Prerequisite: Sophomore standing
Introduction to financial accounting concepts. Emphasis is placed on the accounting cycle.

Professor Information

Bill Urquhart
KH 111A
urquhart@fau.edu
O 561-297-2836
H 561-736-7972

Professor’s Office Hours

Monday 10:00 am – 1:00 pm
Tuesday 10:30 am – 11:45am, 1:00 – 1:45 pm, 3:30 – 4:00 pm
Thursday 10:30 am – 11:45am, 1:00 – 1:45 pm

Teaching Assistant Information

David Cordrey
Lucia DeSanto
Holly Rand
Jelain Smith

Office – KH 111
561-297-3659

Teaching Assistant’s Office Hours

Monday 9:30 am to 12:30 pm, 4:00 to 7:00 pm
Tuesday 9:30 am to 12:30 pm, 1:00 pm to 7:00 pm
Wednesday 9:30 am to 12:30 pm, 1:00 pm to 7:00 pm
Thursday 9:30 am to 7:00 pm

Supplemental Course Description

Accounting has been appropriately described as the language of business. Consequently, the ability to speak and understand this language is a fundamental competency for practitioners of business. A central aspect of accounting is the composition of financial statements that depict the underlying economic reality of the firm or entity being described. This course is intended to introduce fundamental elements that are used to compose these financial reports. Specifically, course content will include an examination and study of the balance sheet, income statement and statement of cash flows from both a conceptual and pragmatic perspective. How these statements are both composed and relate to one another will be a central topic.

WARNING!!!!  Accounting is more than just putting the numbers in the boxes. The study of accounting at the college level is typically rigorous and requires a significant level of dedication.

Students who expect to succeed should be prepared to invest the appropriate amount of time and effort.

This is a “Lecture Capture” Course. This means that you have the option to attend the live class on Tuesdays and Thursdays at 9:00 am in BU 302 or you can watch the class online either live or at your convenience through Canvas. Each day there is a taping, the lecture is made available later that evening.


Required Text and Materials

Financial and Managerial Accounting: Information for Decisions- 7th Edition.
Authors: Wild, Shaw, Chiapetta
Publisher: McGraw-Hill
ISBN-9781260004823


How to purchase the textbook and connect access:
The FAU bookstore sells a loose-leaf text packaged with the connect code. They also sell a connect access that includes an eBook.
Students are not required to have a printed text, but they are required to have a connect access code.

Students who rent a book or purchase a used text will still need to purchase connect access.

Students can purchase access to connect and an eBook through the course connect website.
Loose-leaf + connect code: ISBN-9781260088694
Connect code with eBook: ISBN-9781260004823

Course Learning Objectives

  1. Define accounting; compare and contrast the three major areas of accounting; and describe the role of accounting in making economic decisions.
  2. Explain the four major financial statements and how they relate to each other.
  3. Identify, explain and conduct the steps in the accounting cycle.
  4. Identify, explain and prepare the four types of adjusting entries.
  5. Identify, explain and prepare the four major financial statements.
  6. Identify, explain and prepare closing entries.
  7. Explain the nature of a merchandising company.
  8. Identify and explain financial assets.
  9. Prepare and explain all entries required for cash and cash equivalents, accounts receivable, allowance for doubtful accounts, short-term investments, notes receivable, interest receivable and interest revenue.
  10. Identify and explain the nature of plant assets.
  11. Prepare and explain all entries required for acquisition, use, and disposal of plant assets.
  12. Identify and explain the nature of liabilities.
  13. Prepare and explain all entries required for short-term and long-term liabilities.
  14. Identify and calculate financial ratios to assist in the analysis of the financial position of a company.

Grading Scale

The following table shows the letter grades based on percentage totals.  This is the basis for your grades.  Canvas will show you percentages, but be careful because sometimes assignments will be omitted from the calculation (missed assignments) and the percentages are inflated. To pass this course as a student of the College of Business you must receive a grade of at least “C”.


 

Your % Letter Grade
93% A
90% A-
87% B+
83% B
80% B-
77% C+
73% C
70% C-
67% D+
63% D
60% D-
Below 60% F


 
 

Course Evaluation Method Possible Points % of Total
Exam 1 70 14%
Exam 2 70 14%
Exam 3 70 14%
Final Exam 125 25%
Graded Homework Assignments 110 22%
LearnSmart Assignments 55 11%
Total Points Possible 500 100%

 

Schedule

August 21

Introduction Chapter 1

Introducing Accounting in Business

23 Chapter 1 Introducing Accounting in Business
  28 Ch 2 Analyzing & Recording Transactions 30 Ch 2 Analyzing & Recording Transactions
September  4 Ch 3 Adjusting Accounts & Preparing Financial Statements 6 Ch 3 Adjusting Accounts & Preparing Financial Statements
  11 Ch 3 Adjusting Accounts & Preparing Financial Statements 13 Catch up/Review
  18 Exam 1 – No class 20 Ch 4 Accounting for Merchandising Operations
  25 Ch 4 Accounting for Merchandising Operations 27  Ch 6 Cash & Internal Controls
October 2 Ch 6 Cash & Internal Controls 4 Ch 7 Accounts & Notes Receivable
  9 Ch 7 Accounts & Notes Receivable 11 Catch up/review
  16 Exam 2 – No class 18 Ch 8 Long-Term Assets
  23 Ch 8 Long-Term Assets 25 Ch 9 Current Liabilities
  30 Ch 9 Current Liabilities Nov 1 Ch 10 Long-term liabilities
November  6 Ch 10 Long-term liabilities 8 Ch 10 Long-term liabilities
  13

Exam 3 – No class

November 29 – Last day to drop without receiving an “F”

15 Ch 12 Reporting Cash Flows
  20 Ch 12 Reporting Cash Flows 22 No class - Thanksgiving Day
  27 Ch 13 Analysis of Financial Statements 29 Ch 13 Analysis of Financial Statements
         
December 6,7,8 Final Exam      

 

Due dates

LearnSmart assignments will be due at 8:00 AM the day we begin discussing each chapter (see below).

NOTE: Chapters 1 and 2 are an exception.

Chapter 1 – September 2, 2018 (11:00 PM)

Chapter 2 – September 2, 2018 (11:00 PM)

Chapter 3 – September 4, 2018

Chapter 4 – September 20, 2018

Chapter 6 – September 27, 2018

Chapter 7 – October 4, 2018

Chapter 8 – October 18, 2018

Chapter 9 – October 25, 2018

Chapter 10 – November 1, 2018

Chapter 12 – November 15, 2018

Chapter 13 – November 27, 2018

Homework assignments are due on Sundays at 11:00 PM as follows:

Chapter 1 – September 2, 2018

Chapter 2 – September 2, 2018

Chapter 3 – September 16, 2018

Chapter 4 – September 30, 2018

Chapter 6 – October 7, 2018

Chapter 7 – October 14, 2018

Chapter 8 – October 28, 2018

Chapter 9 - November 4, 2018

Chapter 10 – November 11, 2018

Chapter 12 – November 25, 2018

Chapter 13 – December 2, 2018

 

 

 

Accreditation

AACSB Accredited

AACSB Accreditation

The FAU College of Business is proud to be an accredited member of AACSB
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