VALENCIACOMMUNITY COLLEGE
WINTER PARK CAMPUS
COURSE SYLLABUS
PRINCIPLES OF FINANCIAL ACCOUNTING: ACG 2021: CRN- 13987
(Prerequisite: An assessment score for placement in MAT0024C or higher mathematics or a minimum grade of C in MAT0012C or in APA 111 or in MTB 1103)
(Monday,7:00pm - 9:45pm; Building WP 001, Room 219)
TERM: FALL 2009
INSTRUCTOR AND CONTACT INFORMATION
Peter J. Nieves, MBA, CPA
Tel. 407-814-9690 (1:00pm-8:00pm during weekdays except Monday and Wednesday)
Office Hours: Instructor will be in classroom at least 30 minutes prior to class
Email: ; . I will communicate through Atlas. Please check your Atlas account regularly (my personal email should be used during emergencies only).
WELCOME TO PRINCIPLES OF FINANCIAL ACCOUNTING!
Welcome to my class! For the next several months we will embark in an exciting journey that will allow you to develop and learn basic principles and concepts in accounting. I will challenge everyone to become the best accounting student that you can be. Do not settle for mediocrity, aim high!!
INSTRUCTOR'S MISSIONAND GOALS
My goal is to provide guidance and instill techniques that will allow you to develop learning abilities and skills for academic and workforce advancement. As such, you will be encouraged to take the "gladiator" approach instead of a "spectator" role as you develop critical thinking and problem solving skills in this course.
COURSE DESCRIPTION
Accounting concepts, principles, procedures and underlying theories applicable to nature of accounting, financial statements, accounting cycle, current assets, plant and equipment, long-term investments, intangible assets, payroll, current liabilities, long-term debt, and owner’s equity including accounting for sole proprietorships, partnerships, and corporations. (Special Fee: $30.00)
REQUIRED COURSE MATERIALS:
Text: Financial Accounting: Tools for Business Decision Making, 5th ed., by Kimmel, Weygandt, Kieso. Publisher: John Wiley & Sons. Text may be purchased through the Winter ParkCampus Bookstore.
Calculator or Financial Calculator: Hewlett Packard HP10BII or TI 83Plus.
Software: Students should have good command of MS Office Excel spreadsheet and Word.I recommend you bring a computer file storage device(USB drive) to class in the event you need to transfer files for your use at home.
IMPORTANT DATES: The Final Exam will be on Monday, December 14, 2009; 7:45pm - 10:15 pm. Attendance to the final exam is mandatory in accordance with Valencia’s grading policy.If you do not attend/take the final exam you will receive a grade of “F” for the course.
The college will be closed on Monday, September 7, 2009 (Labor Day Holiday) and between November 25-29, 2009(Thanksgiving Holiday).
Part of Term / DateRange / Withdrawal Deadline (To receive a 'W') / Withdrawal After Deadline (To receive a 'WF' or 'WP')Full Term / 8/31/2009 - 12/20/2009 / November 6, 2009 / December 13, 2009
COURSE LEARNING OUTCOMES (Specific course chapter schedule and assignment’s due dates are outlined in a separate document)
After successful completion of the course, the student should be able to
Analyze common business transactions
Evaluate the uses and limitations of accounting information.
Record transactions in a manual general journal, post them to a manual general ledger and determine their impact on the financial statements.
Prepare a trial balance and financial statements
Complete the accounting cycle by preparing adjusting and closing entries
Understand and apply basic Generally Accepted Accounting Principles to common business situations
Read published financial statements and perform simple analyses of them
Prepare neat and clearly labeled working papers
Produce concise and coherent business communications
Evaluate the uses and limitations of accounting information.
Recognize the role of accounting in the capital markets and the responsibilities and ethical duties imposed on accountants.
Enter transactions into the accounting information system and determine their impact on the financial statements.
Analyze a company’s financial condition, profitability and ability to generate cash flows, and communicate the results clearly.
Identify errors in the accounting information system or the financial statements and make proper corrections.
Account for special issues related to inventory and cost of good sold
VALENCIA STUDENT CORE COMPETENCIES
This course seeks to reinforce the following Valencia Student Competencies:
Think clearly, critically and creatively by analyzing, synthesizing, integrating and evaluating symbolic works and truth claims.
Reflect on your own and others’ values from individual, cultural and global perspectives.
Communicate by reading, listening, writing and speaking effectively.
Act purposefully, reflectively and responsibly by implementing effective problem solving and decision making strategies.
EVALUATION AND GRADING
COURSE FORMAT
The course will consist of lectures, class activities, assignment’s discussions, problem solving and may include student presentations where you will bean active participant in the discussion of assigned chapter readings and homework. Students are required to read chapters assigned and have their homework completed prior to each class. The homework assignments and readings are the minimum class preparation recommended. Please feel free to do additional exercises and problems as needed to assure mastery of the material.Students must bring a calculator to class.
CRITERIA FOR EVALUATION FOR EACH COMPETENCY
Students will be evaluated on their demonstrated ability to understand assignments and examination questions; correctly identify the approach to solving the problem; select the appropriate data in the solution; select the proper quantitative or other analytic tool for the solution; and communicate effectively their response to the problem.
Final grades for this course will be based on the following:Class participation **
Problems and Assignments for grade
Special Project – Corporate Analysis
Exams (3 Planned Exams)
Final Exam / 10%
30%
10%
33%
17% / A=90 – 100%
B=80 – 89%
C=70 – 79%
D=60 – 69%
F= Below 60%
** For a grade of 95% - 100% in this area, the student needs to provide substantive contribution to the class learning process in at least 75% of the class meeting dates. Substantive contribution means answering questions correctly from chapter topics; practice homework assignments; providing class contribution on emerging issues; and attending class on time. Each absence and tardiness will be subject to a 2% reduction penalty on the overall grade except those involving religious observances, jury duty or military call up.
ASSIGNMENTS AND TESTS
In addition to regular homework, I will assign exercises and problems that will be collected for a grade at the beginning of each class when due. There will be 6problems/exercises for grade and one Special Project. No late assignments will be accepted (See exception). I may accept late assignments only under exceptional circumstances and it will carry a penalty of at least one grade lower. You will receive "zero" if you do not turn in a graded assignment. YOU MUST COMPLETE YOUR WORK INDIVIDUALLY. Collaboration, copying someone else's work, or access to official answers are considered a violation of the academic honesty policy (See Policy Summary).
The standard communication tool outside the classroom will be ATLAS. Therefore, I recommend you check your ATLAS email account periodically. I use this tool to make announcements, correspond with students on an individualized basis and give feedback when necessary.
I recommend all assignments for grade be completed using MS Excel or MS Word processing software. If you submit assignments using excelor word files, please follow the following naming convention: “Ch1_Ex3_JSmith", where J Smith stands for your first initial and last name.Also, type your name inside the Excel or Word document. The graded assignments will be returned to you on the following class with the grade earned and comments. Make sure you turn in the correct assignmenton time. You are encouraged to complete all homework for a better than average “participation grade” described above. I will review and ask questions periodically on non-graded homework to assess chapter reading and learning as well as to provide feedback when needed. Feel free to ask questions. Do not go home with unanswered questions! Partial credit may be granted when the student's numerical answer is incorrect, but has demonstrated sound analytical approach in arriving at his/her answer.
TESTS MAKE UP POLICYAND FINAL EXAM
No makeup tests are available without explicit consent of instructor, which will only be granted in case of a documented extreme emergencyin accordance with Valencia Community College Policy. You must provide verifiable evidence in the event you are not present during an exam. All tests must be taken on or before dates assigned. Reminder: The final examination must be taken on the date published for final examination, if not this will result in a grade of “F” for the semester
EXTRA CREDIT OPPORTUNITIES
Your success in this course is part of my goal and teaching mission. Therefore, I will attempt to provide opportunities only under extenuating circumstances. Extra credit assignments, if granted, will not replace a missed assignment. These exercises may include a variety of assignments such as problems, special project and/or writing assignments. At my sole discretion, I reserve the right to add points and/or replace problem grades.
ATTENDANCEANDCLASSROOM ETIQUETTE
Attendance to all classes is requiredand vital to academic success. Students are expected to attend classes regularly and punctually. An attendance sheet will be available at each scheduled class and the student will be required to have his/her initials recorded on it. The class participation grade includes an attendance component. Therefore, you have a great opportunity to earn full credit for class participation when you attend regularly for class. The instructor, at his discretion, may withdraw students who do not maintain regular attendance/punctuality, and who fall behind in their work. Failing to complete two assignments, exams, or combination of assignments and exams, will be considered falling behind in work and a basis for withdrawal. NOTE: Missing more thanthree classes for any reason is excessive and a basis for withdrawal. A student may withdraw at any time during the term in Atlas. Students will receive a "W" if withdrawn by November 6, 2009. After this date, if a student withdraws or is withdrawn by the professor for excessive absences or other reasons, the professor will assign a grade of WP (withdrawn passing) or WF (withdrawn failing), based upon the student’s academic achievement in the class as of the last day of attendance. W and WP will not be counted in the grade point average. WF will be calculated as an F in the grade point average. In order to avoid class disruption CELL PHONES MUST BE TURNED OFF while in the classroom.
NO SHOW POLICY
Class attendance is required beginning the first week of the term. If you do not attend class during the first week, you may be withdrawn from a class as a “no show”. You will be billed for the class and a “W” will appear on your transcript for the course.
CHILDREN ON CAMPUS
We ask that you follow college policy regarding children on campus. Please make arrangements for childcare outside the classrooms or labs.
VALENCIA I.D. CARDS
Valencia I.D. cards are required for the Library, TestingCenter, and IMC usage. No other form of ID at those locations will be accepted. Possession and utilization of a ValenciaID is mandatory to obtain these services.
EXPECTED STUDENT CONDUCT
ValenciaCommunity College is dedicated not only to the advancement of knowledge and learning but is concerned with the development of responsible personal and social conduct. By enrolling at ValenciaCommunity College, a student assumes the responsibility for becoming familiar with and abiding by the general rules of conduct. The primary responsibility for managing the classroom environment rests with the faculty. Students who engage in any prohibited or unlawful acts that result in disruption of a class may be directed by the faculty member to leave the class. Violation of any classroom or Valencia’s rules may lead to disciplinary action up to and including expulsion from Valencia. Disciplinary action could include being withdrawn from class, disciplinary warning, probation, suspension, expulsion, or other appropriate and authorized actions. You will find the Student Code of Conduct in the current Valencia Student Handbook or at the following URL:
ACADEMIC DISHONESTY POLICY
All forms of academic dishonesty are prohibited at ValenciaCommunity College. Academic dishonesty includes, but is not limited to, plagiarism, cheating, furnishing false information, forgery, alteration or misuse of documents,misconduct during a testing situation, and misuse of identification with intent to defraud or deceive. For more details see the following URL:
COMPUTER/EQUIPMENT USE POLICY
Use of computers in the Business, IT, and Public Service classrooms at ValenciaCommunity College is restricted to those activities designated by the instructor to enhance the class materials. Any other use is strictly forbidden. Inappropriate use includes, but is not limited to:
- Use of computer to send E-mail or access Internet sites not specifically assigned in class.
- Use of computer for job, internship, homework or other activities not assigned in class.
- Modifying any hardware or software system configuration or setting.
- Activities not in accordance with the Valencia Student Code of Conduct
Use of computers in the departmental open labs is limited to those activities involved with preparing homework or coursework in this department and is subject to the same restriction as listed above.
Computer use is remotely monitored; any student using computers inappropriately may be subject to dismissal from class or banishment from the lab. Subsequent offense may be sent to the campus administration for further disciplinary action.
Open Computer Lab - Room 217
STUDENTS WITHDISABILITIES
Students with disabilities who qualify for academic accommodations must provide a notification from the Office for Students with Disabilities (OSD) and discuss specific needs with the instructor, preferably during the first two weeks of class. The Office for Students with Disabilities determines accommodations based on appropriate documentation of disabilities. The Winter Park Campus Office is located in Room 212.
DISCLAIMER STATEMENT
The instructor reserves the right to make any changes or otherwise modify this course syllabus. Changes, if any, will be announced in class or through Atlas. It is the responsibility of the student to make any adjustments, as appropriate.
Note:The Principles of Financial Accounting Class Schedule, distributed separately, is incorporated by reference into this syllabus. Please read it carefully for additional information you need to know.
Chapter 1-3 - Introduction to Financial Statements and the Accounting Information System
Chapter 4 - Accrual Accounting Concepts and Issues
Chapter 5 - Merchandising Operations and Income Statements: Introduction to Multiple-Step Format
Chapter 6 - Reporting and Analyzing Inventory (Combined 5 and 6)
Chapter 7 -Fraud, Internal Control and Cash (Combined 7, 8 and 9 key concepts)
Chapter 8 - 9 Reporting and Analyzing Receivables and Long-Lived Assets
Chapter 10 - Reporting and Analyzing Liabilities
Chapter 11 - Reporting and Analyzing Shareholder’s Equity
Chapter 12 - Statement of Cash Flows: An Overview
Chapter 13 - Financial Analysis
By:PJN,8/3/2009
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