ACC 2013
Principles of Financial Accounting
Fall2016
Instructor:John T. Rigsby
Classroom:126 McCool Hall, 2:00-3:15 pm MW
Office:300T McCool Hall
Office Phone:662.325.1640
E-mail:
Office Hours:11:00 – 11:50a.m. MW and by appointment
Required course materials:
(1)Fundamental Financial Accounting Concepts,Ninth Edition, by Edmonds, Edmonds, McNair, and Olds, McGraw-Hill, 2016
(2)Working Papers for use with Fundamental Financial Accounting Concepts.
(3)Basic calculator
(4)Can use Connect access to do homework exercises or manually turn in solutions from Working Papers
The Connect address is -
Course Description: Three hour lecture. A study of financial accounting fundamentals including accounting cycles, accounting systems, cash flow, assets, liabilities, equity, and forms of business organizations.
Course Objectives: The primary objective of this course is to introduce students to the fundamental financial accounting concepts. This course is conceptually based to foster a meaningful comprehension of accounting fundamentals. The focus is on learning how business events affect financial statements. At the conclusion of this course, students should be able to answer the following questions: How does a given business event affect the income statement, balance sheet, and statement of cash flows? Do assets increase, decrease, or remain unchanged by an event? What effect does the event have on liabilities, equity, revenue, expenses, gains, losses, net income, and dividends? Students will also learn the basics of double-entry bookkeeping including debits and credits, journal entries, T-accounts, and trial balances. This understanding allows the student to truly comprehend the fundamental relationships present in the basic accounting cycle.
Methods of Instruction: The course will be conducted in an interactive learning environment that utilizes team learning and active pedagogy. This approach places the burden of learning on the student. To be successful in the course, the student must prepare for class and actively participate in each class session. There will be an emphasis on class discussion, in-class work, and teamwork. The interactive approach to learning will make the class more interesting and relevant and facilitate the learning process. The hope is to make this class an enjoyable experience.
Grading Points and Scale: / PointsExam 1 – Ch 1-3–Friday, 09/9/16, 2:00-4:00pm / 100 / A: ≥90%
Exam 2 – Ch 4-6 – Friday, 10/7/16, 2:00-4:00 pm / 100 / B: ≥80%
Exam 3 – Ch 7-9 – Friday, 11/4/16,2:00-4:00pm
Exam 4 – Ch 10-11 – Tuesday, 12/6/16, 7-10 pm / 100
100 / C: ≥70%
F: < 60%
Homework and in-class work / 80
Total points / 480
Exams and Makeup Policy: Exams are given for several chapters according to the schedule. You will have the entire period to complete the exam. The exam given is an exam for an hour class. All exams must be taken at the regular time. There is no formal provision for make-up exams. If you cannot take the exam at the regularly scheduled time because of university activities, this must be discussed with the instructor before the exam date and an alternate time scheduled. Also, the instructor must have written documentation from the appropriate university department as to the need for an alternate exam schedule. Any missed exam without prior approval will result in the grade of zero.
Homework and Quizzes:Homework and/or quizzes will be collected or given each class period. Use workbook for homework. You are expected to read the assigned materials and work assigned homework problems prior to coming to class. Homework quizzes and classwork will be based on homework exercises and problems assigned and chapter materials. You must be present in class in order to get credit for the classwork or quizzes. No late homework will be accepted for any reason. However, you may turn in homework early.
Calculator and Cell Phone: All students are required to use a basic calculator when taking the exams. No graphing calculators or allowed for the accounting exams. As a consideration to all students in the class, please turn off all cell phones and other electronic communication devices during the scheduled class time.No cell phones are allowed during the exam.Your exam will be picked up and you will receive a grade of zero if you are seen with a cell phone while taking an exam.
Attendance Policy: The level of difficulty of the course material covered in class requires students to be present.Attendance is expected and will be taken. If for some unavoidable reason you must miss class, you are responsible for getting in-class assignments and material covered in the missed class. Excused absences require documentation.As a courtesy to your classmates, please arrive for class on time and remain in the classroom until the completion of the class meeting. If you need to leave early, please let me know before class. Students with two or fewer absences will receive 6 bonus points.
Academic Integrity:
Mississippi State University has an approved Honor Code that applies to all students. The code is as follows:
"As a Mississippi State University student I will conduct myself with honor and integrity
at all times. I will not lie, cheat, or steal, nor will I accept the actions of those who do."
Upon accepting admission to Mississippi State University, a student immediately assumes a commitment to uphold the Honor Code, to accept responsibility for learning, and to follow the philosophy and rules of the Honor Code. Students will be required to state their commitment on examinations, research papers, and other academic work. Ignorance of the rules does not exclude any member of the MSU community from the requirements or the processes of the Honor Code. For additional information please visit:
ADA Statement: If you need academic accommodations based on a disability, contact the office of Student Support Services in Room 01 Montgomery Hall at 662-325-3335.
Title IX:MSU is committed to complying with Title IX, a federal law that prohibits
discrimination, including violence and harassment, based on sex. This means that MSU’s educational programs and activities must be free from sex discrimination, sexual harassment, and other forms of sexual misconduct. If you or someone you know has experienced sex discrimination, sexual violence and/or harassment by any member of the University community, you are encouraged toreport the conduct to MSU’s Director of Title IX/EEO Programs at 325-8124 or by e-mail to . Additional resources are available at
or at
Disclaimer: This syllabus is a tentative course plan prepared in advance to provide foresight for the students enrolled in this class. The instructor may change the syllabus at any time during the semester as needed.
Important Dates: August21 – Last day for dropping/adding a course without a grade.
August 24 – Last day for registering or adding a course
October 8 – Last day to drop a course with a “W”.
Class Assignment
Read each chapter at least twice. Read the chapter once prior to the class in which the material will be covered, and read the chapter again after the chapter has been covered. (You may also need to read all or parts of the chapter as the material is covered.) You should also review all discussion questions and be sure that you can answer them. You are responsible for all of the exercises and problems assigned whether marked for Review or to be Turned In. All assigned exercises and problems are subject to testing.
Date / Chapter / Exercises and Problemsfor Review (You are responsible for these problems, but they will not be taken up) / Exercises and Problems to be Turned In
(Due on this date)
8/17 / 1-12A, 1-7A
8/22 / Read Ch 1 / 1-6A, 1-19A, 1-13A, / 1-2B(paper), 1-4B, 1-14B
8/24 / Read Ch 2 / 1-31B, 2-3B, 2-4B / 1-15B, 1-30B, 1-32B (a-d)
8/29 / 2-15B, 2-19B, / 2-1B, 2-6B, 2-12B,
8/31 / Read Ch 3 / 2-39B, 3-1B, 3-4B(a), 3-14B, (JE only), / 2-43A, 2-44A,3-3A, 3-5A,
9/5 / Labor Day
9/7 / 3-21B, 3-19B, 3-17B, 3-23B / 3-18A, 3-30A, 3-32A
9/9 / Exam No. 1 / Chapters 1,2,3
9/12 / Read Ch 4 / 4-2B, 4-5B, 4-7B / Que 1,7, 10, 16 (paper)
9/14 / 4-14B, 4-16B, 4-25B, 4-12B / 4-4A, 4-17A (paper)
9/19 / Read Ch 5 / 4-15B, 5-3B / 4-10A, 4-26A b,c,d
9/21 / 5-6B, 5-4B, / ATC 4-1 (paper), 5-2A,
9/26 / 5-10B,5-12B / 5-18A, 5-17A(paper), 5-20A
9/28 / Read Ch 6 / 5-24B, 6-10B / 5-21A, 6-1A(paper), 6-2A(paper),
10/3 / 6-14B, 6-8B / 6-5A(paper), 6-9A, 6-12A
10/5 / ATC 6-1 a,b, 6-19B and review / 6-24A, 6-18A
10/7 / Exam No. 2 / Chapters 4, 5, 6
10/10 / Read Ch 7 / 7-4B, 7-6B / Ch 7 Que 1,6,12,15 (paper)
10/12 / 7-9B, 7-11B, 7-8B, / 7-5A, 7-18A
10/17 / 7-7B, 7-13B, 7-16B / 7-12A, 7-14A
10/19 / Read Ch 8 / 8-4B, 8-6B, / 7-15A, 8-3A
10/24 / 8-10B, 8-13B, 8-14B, / 8-27A, 8-12A
10/26 / Read Ch 9 / 8-11B, 8-17B, 8-20B, 9-1B, / 8-19A,
10/31 / 9-3B, 9-6B, 9-9B, / 8-24A, 9-2A,
11/2 / 9-26B, 9-11B(a), 9-15B / 9-4A, 9-7A, 9-23A
11/4 / Exam No. 3 / Chapters 7,8,9
11/7 / Read Ch 10 / 10-3B, 10-5B, 10-10B, 10-11B / Que 1, 2, 3, 16, 18 (paper)
11/9 / 10-6B, 10-14B, / 10-2A, 10-7A, 10-12A
11/14 / Read Ch 11 / 10-18B, 11-5B / 10-16A, 10-13A,10-17A,
11/16 / 11-8B,11-13B, / 11-4A(b,c,d,e,f)
11/21 / 11-14B, 11-15B / 11-9A, 11-12A,
11/23 / Thanksgiving Holidays
11/28 / 11-17B, 11-25B / 11-22A
11/30 / Review
12/6 / 7:00 – 10:00
Exam N. 4 / Chapters 10 & 11.
Special Coverage:
International Issues: Pages 9,167,284,286,387,440,499,612,
Ethics:Pages 94-97,286-287,320-324,338,441,485,490, 608, 611,666