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JOHN CABOT UNIVERSITY
COURSE CODE: "ACCT 201"
COURSE NAME: "Financial Accounting"
SEMESTER & YEAR:
Summer Session I 2024
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SYLLABUS
INSTRUCTOR:
Keith William Donnelly
EMAIL: [email protected]
HOURS:
MTWTH 9:00 AM 10:50 AM
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
OFFICE HOURS:
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COURSE DESCRIPTION:
This course is an introduction to the basic financial accounting
concepts and standards. Relevant concepts will be analyzed in detail,
including: preparation of principal financial statements, application of
accounting principles to the main asset, liability, and owners’ equity
accounts. The course emphasizes the construction of the basic financial
accounting statements - the income statement, balance sheet - as well as
their interpretation.
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SUMMARY OF COURSE CONTENT:
This course provides an introduction to accounting principles used to classify, value, and record assets, liabilities, stockholder equity, revenues and expenses. Students will prepare, examine, and learn to interpret financial statements.
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LEARNING OUTCOMES:
1. Identify an application of each individual accounting assumption, principle, and constraint.
2. Prepare basic journal entries in good form.
3. Demonstrate an understanding of the accrual-basis of accounting through the preparation of adjusted entries in good form.
4. Define each of the financial statement elements: assets, liabilities, stockholders’ equity, revenues and expenses.
5. Prepare a classified balance sheet
6. Prepare a multi-step income statement in proper form.
7. Prepare a retained earnings statement in proper form.
8. Prepare a statement of cash flows in proper form.
9. Know the difference between real and nominal accounts.
10. Prepare basic bank reconciliations.
11. Understand the purpose of the “allowance for doubtful accounts” account.
12. Calculate the dollar amount of interest on a note receivable, note payable, or bond payable.
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TEXTBOOK:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
| Financial Accounting 11th Edition Connect Learning Platform | Libby | McGraw Hill | 1265717257 | | The required materials are the Connect online learning platform (should be $85). This comes with a digital version of the textbook for free.
https://connect.mheducation.com/class/k-donnelly-financial-accounting-summer-2024 | Ebook | | |
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| Homework | | 20% |
| Exams | | 65% |
| Class Notes/Problems | | 10% |
| Essay | | 5% |
-ASSESSMENT CRITERIA:
AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course.
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.
-ATTENDANCE REQUIREMENTS:
ATTENDANCE REQUIREMENTS AND EXAMINATION POLICY
This class if offered in person, not online. All exams are offered in person, during class time only. You cannot make-up a major exam (midterm or final) without the permission of the Dean’s Office. The Dean’s Office will grant such permission only when the absence was caused by a serious impediment, such as a documented illness, hospitalization or death in the immediate family (in which you must attend the funeral) or other situations of similar gravity. Absences due to other meaningful conflicts, such as job interviews, family celebrations, travel difficulties, student misunderstandings or personal convenience, will not be excused. Students who will be absent from a major exam must notify the Dean’s Office prior to that exam. Absences from class due to the observance of a religious holiday will normally be excused. Individual students who will have to miss class to observe a religious holiday should notify the instructor by the end of the Add/Drop period to make prior arrangements for making up any work that will be missed. The final exam period runs until ____________
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ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic
dishonesty will receive a failing grade on the work in which the dishonesty occurred.
In addition, acts of academic dishonesty, irrespective of the weight of the assignment,
may result in the student receiving a failing grade in the course. Instances of
academic dishonesty will be reported to the Dean of Academic Affairs. A student
who is reported twice for academic dishonesty is subject to summary dismissal from
the University. In such a case, the Academic Council will then make a recommendation
to the President, who will make the final decision.
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STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap.
Students with approved accommodations must inform their professors at the beginning
of the term. Please see the website for the complete policy.
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SCHEDULE
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Week 1 - Chapters 1 and 2
Week 2 - Chapters 3 and 4
Week 3 - Chapters 5 and 6
Week 4 - Chapters 7 and 8
Week 5 - Chapters 9 and 10
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