Course Syllabus
Course: ACCT 2010
Division: Business and Applied Tech
Department: Business
Title: Financial Accounting
Semester Approved: Spring 2024
Five-Year Review Semester: Fall 2028
End Semester: Fall 2029
Catalog Description: This course is an introduction to accounting concepts and techniques, which are essential to the administration of a business enterprise. The course further covers periodic determination of income and financial positions by teaching students to maintain financial records and prepare and analyze financial reports. This course is the first in a series designed for the sophomore year in preparation for obtaining the ASB degree.
Semesters Offered: Fall, Spring
Credit/Time Requirement: Credit: 3; Lecture: 3; Lab: 0
Justification: This course teaches skills in preparing and using (interpreting) financial statements. The course is required for majors in business management and is designed to transfer as a required course to university programs. The course is a requirement for the Associate of Science Business degree.
Student Learning Outcomes:
Through instruction and hands-on experiences, students will understand the importance of reliable accounting information for businesses and the economy at large. Students will learn how to maintain financial records and prepare and analyze financial reports. Through exercises, problems, class discussions, and project case studies, students learn how to recognize and remedy ethical issues.
Students will perform computations to generate a number of financial measurements. They will compute/measure net income and financial position as well as numerous measures of profitability, liquidity, market strength, solvency, cash flow adequacy, and other indicators. Students will be evaluated on their ability to prepare, in numeric format, financial statements and will be asked to evaluate their own reports. Exam results and accuracy of statement evaluation will be provided by feedback from the instructor.
The student will also be evaluated on learning how to recognize and remedy ethical issues in accounting. The student will be evaluated on knowledge and application of ethical standards through exams and will be asked to participate in classroom discussions. Instructor feedback will be supplied through exam results and oral evaluation during class discussions. Peer feedback will also occur during class discussions.
Content:
The course will cover a wide range of accounting-related topics such as the uses of accounting information and financial statements, measuring and recording business transactions, revenue and expense recognition rules, accounting systems, financial reporting and analysis, measuring the cost of sales and gross margin, safeguarding records and property, making ethical decisions and recognizing ethical problems, payroll, performance measures, statement of cash flows, analyzing statements of cash flows, etc. Students will be encouraged to share cultural experiences and identities, allowing others to learn from their experiences and identities, allowing others to learn from their perspectives.
Key Performance Indicators:
Exams (midterms and final) 60 to 85%
Homework 5 to 35%
Classroom Participation 5 to 10%
Representative Text and/or Supplies:
Financial and Managerial Accounting, Warren/Reeves/Duchac, Cengage Learning (current edition)
Pedagogy Statement:
This course will encourage and welcome respectful dialogue from a diverse range of ideas, topics, and perspectives. In addition equitable access will be available to all involved in this course including students and faculty. Students will be encouraged to share cultural experiences and identities, allowing others to learn from their experiences and identities, allowing others to learn from their perspectives. This will allow students from all backgrounds to foster respect, understanding, and cooperation, further increasing diversity.
Instructional Mediums:
Lecture
Maximum Class Size: 40
Optimum Class Size: 30
