Course Syllabus

JOHN CABOT UNIVERSITY

COURSE CODE: "FIN 201-3"
COURSE NAME: "Financial Accounting"
SEMESTER & YEAR: Spring Semester 2012

SYLLABUS

INSTRUCTOR: Giummarra Andrea II
HOURS: MW 17:30-18:45
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES:
OFFICE HOURS: by appointment

COURSE DESCRIPTION:
The objective of this course is for students to understand the basic structure of Accounting. Students will learn the systems for recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events and interpreting the results thereof.

SUMMARY OF COURSE CONTENT:
Topics covered include General Bookkeeping procedures, The Adjusting Process, Merchandising Operations, Accounts and Notes Receivables and Payables, Plant Assets, Paid-in Capital and Balance Sheet of Corporations, Cash Flow Statement.

LEARNING OUTCOMES:

Recognize and understand ethical issues related to the accounting profession

Describe the scope and objectives of financial accounting

Describe the main users of accounting information and their needs

Identify the main characteristics of useful information

Record Business Transactions and prepare the Financial Statements (Income Statement, Statement of Owner’s Equity, Balance Sheet, Statement of Cash Flows) in accordance with GAAP principles.

TEXTBOOK:

Book Title	Author	Publisher	ISBN number	Library Call Number	Comments	Format	Local Bookstore	Online Purchase
Accounting - Eight Edition	Horngren, Harrison, Oliver	Pearson International Edition	0-13-609342-6

REQUIRED RESERVED READING:

NONE

RECOMMENDED RESERVED READING:

NONE

GRADING POLICY
-ASSESSMENT METHODS:

Assignment	Guidelines	Weight
Attendance & Class Participation		5%
Homework		10%
Surprise Quizzes		20%
Midterm		30%
Final Exam		35%

-ASSESSMENT CRITERIA:

Assessment Guidelines for assigning main letter grades: A, B, C,D, F.

Letter grades awarded for this course will normally correspond to the following numerical scores:

94 - 100 A
90 - 93 A-
87 - 89 B +
84 - 86 B
80 - 83 B-
75 - 79 C+
70 - 74 C
65 - 69 C-
60 - 64 D+
55 - 59 D
50 - 54 D-
Below 50: F

A: Work 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.

B: This is highly competent level of performance and directly addresses the question or problem raised.

There is a demonstration of some ability to critically evaluate theory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture and reference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.

C: This is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.

D: This 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.

F: This 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/Participation: No absence 100%; One absence 90% Two absences 60% Three absences 0%. More than three absences may results in up to 10 percent being subtracted from your final grade, and you may be asked to withdraw from the class
Please refer to the university catalog for the attendance and absence policy

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.

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.

SCHEDULE

Week 1 – Jan. 16th	Accounting and the Business Environment	Read Chapter 1. Do Exercises E1-19; E1-20
Week 1 – Jan. 18th	Accounting and the Business Environment	Do problem P1-30A; P1-40B; Read Chapter 2
Week 2 – Jan. 23rd	Recording Business Transactions	Do Exercises E2-17; E2-22; E2-23
Week 2 – Jan. 25th	Recording Business Transactions	Do Problems: P2-27A; P2-31A Read Chapter 3
Week 3 – Jan. 30th	The Adjusting Process	Do Exercises E3-17;E3-19; E3-20
Week 3 – Feb. 1st	The Adjusting Process	Do Exercises E3-21;E3-22; E3-23
Week 3 – Feb. 8th	The Adjusting Process	Do problems P3-29A; P3-31A;
Week 4 – Feb. 13th	The Adjusting Process	Do Problem P3-33A
Week 4 – Feb. 15th	Completing the Accounting Cycle	Do Exercises E4-12; E4-17
Week 5 – Feb. 20th	Completing the Accounting Cycle	Do Problems P4-26A;P4-30B;S4-11
Week 5 – Feb. 22nd	Merchandising Operations	Do Exercise E5-17; E5-19
Week 6 – Feb. 24th	Merchandising Operations	Do Problems P5-27A; P5-35B
Week 6 – Feb. 27th	Review Day	Prepare for Midterm
Week 7 – Feb. 29th	MIDTERM	Read Chapter 6
Week 7 – March 2nd	Merchandise Inventory	Do Exercise E6-18; E6-21;
Week 8 – March 5th	Merchandise Inventory	Do Exercise E6-26; Problems P6-31A; P6-34A
Week 8 – March 7th	Internal Control and Cash	Do exercise E7-18;E7-22
Week 8 – March 9th (make-up for April 25th )	Internal Control and Cash	Do problem P7-42
Week 9 – Mar.12th	Receivables	Do exercise: E8-15;E8-16;E8-19
Week 9 – Mar. 14th	Receivables	Do Exercise E8-21; Problem P8-28A;P8-36B
Week 10– Mar. 26th	Plant Asset & Intangibles	Do Exercise E9-17;E920;E9-22
Week 10– Mar. 28th	Plant Asset & Intangibles	Do problems P9-28A; P9-36B
Week 11– Apr. 2nd	Current liabilities & Payroll	Do exercises E10-22;E10-24;
Week 11– Apr. 4th	Current liabilities & Payroll	Do exercises E10-29; Problem P10-42B
Week 12– Apr. 11th	Corporate organization, Paid-in Capital and the Balance Sheet	Do Exercise E11-18;E11-20
Week 13– Apr. 16th	Corporate organization, Paid-in Capital and the Balance Sheet	Do Exercise E11-25; Problem P11-33A
Week 13– Apr. 18th	Review for the Final
Week 14– Apr. 23rd	Review for the Final