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UNIVERSITY OF GUAM COURSE SYLLABUS Fall Semester 2009 Course Title: BA 200-02 Principles of Financial accounting Course Schedule: MW 1600 – 1720 pm Instructor’s Name ELIZABETH FOMA, DBA, CFE Office Hours: 13:00 Pm-14:00 pm M-TH CL23Petion Contact #s Tel 735-2506 Wk(leave a message), 734-0882 Hm <email@example.com > 1. Course Description: This course is an introduction to the theory and practice of accounting and financial reporting. This course introduces business decision-making accounting information systems. Emphasis is on analyzing, summarizing, reporting, and interpreting financial information. Topics include the accounting cycle, financial statements and accounting for assets, liabilities, equities, revenues and expenses. Prerequisite: BA130 with a grade of "C" or better and MA110. 2. Course Content: a. Accounting in Business b. Analyzing and Recording Transactions c. Adjusting Accounts and Preparing Financial Statements d. Completing the Accounting Cycle e. Accounting for Merchandising Operations f. Inventories and Cost of Sales g. Accounting Information Systems h. Cash and Internal Controls i. Accounting for Receivables j. Plant Assets, Natural Resources, and Intangibles k. Current Liabilities and Payroll Accounting l. Accounting for Partnerships 3. Rationale for the Course: The course aims to give the student practical knowledge of the principles of accounting as they applied in the accounting processes-recording (manual and computerized accounting), summarizing of business transactions, understanding of accounting terms and concepts and the preparation of financial statements needed to help management in decision making. 4. Skills and Background Required or Expected: Completion of SBPA and General Education Course requirements at the 100 level, with a "C" average is desired. 5. Teaching Methodologies and Anticipated class size: Lectures, lecture discussion, PowerPoint presentations, research, class participation, and/or computerized accounting practice set. Maximum class size is 24. 6. Learning Objectives for Students: Upon successful completion of the course, the student will be able to: a. Identify the users and uses of accounting information (Goal #1, 2). b. Discuss Generally Accepted Accounting Principles and properly apply them in the analysis of transactions and the preparation of financial statements (Goal #1, 2, 3, 4). c. Understand the interrelationship among the four primary financial statements (Goal #1, 2, 5 6). d. Identify the steps in the Accounting Cycle, and the role each step has in ensuring the reliability and relevance of the financial statements (Goal #1, 2, 3). e. Compare and contrast the various business forms; sole proprietorships, partnerships and corporations (Goal #1, 2). f. Apply the rules for debits and credits to the preparation of journal entries for business transactions (Goal #1, 2, 4, 5) g. Prepare Financial Statements to include: Single-step and multiple-step Income Statements, a Statement of Owner’s Equity, a Classified Balance Sheet, and a Statement of Cash flows (Goal #1, 2, 4, 5, 6)NIVERSITY OF GUAM h. Prepare adjusting entries and understand their purpose and impact on financial statements (Goal #1, 2, 4, 5, 6). i. Calculate Cost of Goods Sold and Inventory valuation using various costing methods (Goal #1, 2 ,4). j. Calculate the amount of depreciation expense and the book value of depreciable assets using various methods (Goal #1, 2, 4). 7. Methods of Evaluation Assignments, quizzes, examinations, projects, class participation and/or computerized practice set (To be given by the instructor). 8. Methods for Student Learning Outcomes Assessment: Minute Paper, Pre-Test, and Post-Test instruments. ALG 1: Demonstrates leadership in the accounting/business environment; ALG 2: Demonstrates critical thinking and the ability to gather and synthesize information for accounting/business management problems; ALG 3: Identify and analyze ethical problems that occur in the accounting/business environment; ALG 4: Demonstrates competency in the application of accounting principles and concepts for local, regional, and global environments; ALG 5: Demonstrates the ability to communicate relevant financial and non-financial information effectively; ALG 6: Demonstrates competency information technology for the accounting/business environment. Required and Recommended Texts or Study Guides: Needles, Powers, and Crosson (2008). Principles of Accounting. 10th Edition. New York: Houghton Mifflin Company. Note: Resources are subject to change as newer texts containing current accounting pronouncements are available. 10. COURSE REQUIREMENTS Students are expected to submit all assignments, attend all classes and participate in class discussions. Assignments will be given for each chapter. No make-up will be given for missed assignments, midterm and final examinations without an acceptable and verifiable reason. 11. STUDENTS WITH DISABILITY If you are a student with a disability who will require accommodation(s) to participate in this course, please contact me privately to discuss your specific needs. You need to provide me with a documentation concerning your need or accommodation(s) from the University of Guam’s EEO/ADA office. If you have not registered with the EEO/ADA office, you should do so immediately at 735-2244, 734-2971/2243 to coordinate your accommodation request. 12. PLAGIARISM In line with our School’s program intent in developing ethical professionals, students must adhere to honesty and giving credit (where applicable) to cited sources on exams and assignments, respectively. Note that when making reference to published works \secondary data, etc), you must provide appropriate credit to your sources. Use the APA manual as a reference to how citations and how your reports are to be prepared. Absolutely no credit/points will be granted for works where cheating (exams) and plagiarism are observed. Plagiarism will result in automatic failure of the course. 13. FATAL ERROR POLICY (Outcome Assessed): Effective Written Communication Skills) If any submitted writing assignment has more than 3 obvious grammatical citation errors, the instructor will return the assignment to the student to make the appropriate corrections; otherwise, the assignment will not be graded. 14. ATTENDANCE AND PARTICIPATION Students are expected to attend all classes and participate in class discussions. NOTE: Students earn their grades; they are not given. Assignments due next day after every topic. 15. LATE ASIGNMENTS Assignments must be submitted according to the due date in order to receive credit. INFLUENZA H1N1 ALERT NOTICE TO STUDENTS: Based on the new CDC guidance, the Department of Public Health and Social Services recommends that people with influenza-like illness should stay home for 3-5 days or 24 hours after their fever is gone without the use of fever-reducing medicine, whichever is longer (fever is defined as having a temperature of 100 degrees Fahrenheit or 37.8 degrees Celsius or greater. If you feel ill with flu-like symptoms please stay home and contact me by phone or email. We will arrange to accommodate your absence by assigning work to be completed at home. Please refer to the H1N1 alert notices posted across the campus. Calendar of Assignments Date Chapter Assignments* Aug. 19, 2009 Introduction,Formation of Teams, Introduce Chapter 1. Uses of Accounting Information and the Financial Statements. 24 Continue chapter 1. Do examples. HWK: SE 1, 4. E4 and C8 26 Discussion of Assgnment chap. 1 & and start 2 31 Continue Chapter 2. Analyzing Business Transactions. HWK: SE5, E5, 8, and 11 . Sept. 02 Solve problemsfrom assignment chapter 2. 07 Labor Day. No school. 09 Chapter 3,Measuring Business Income. 14 Continue chapter 3. HWK: SE1 to SE5. Solve problems fromassignments. Team wk: Swing assignment to be determined. 16 Start chapter 4, Completing the accounting cycle Assignment: HWK SE6, E6. Solve problems. 21/23/28 Discussion of chapter 5.iancial Reporting and Analysis. HWK: SE4 to SE7, E8. 30 First Examination Capters 1-5. Swing assignment. Oct. 05 Pro-exam review. Chapter 6. The Operation Cycle and Merchandising Oper ations. HWK SE3, 5, 7 and E7. Group assignmen t: P5. Solve problems from HWK. 07/12 Inventories. Chapter 7.Assignment: SE3, E4, 5, 7. 14/19 Chapter 8. Cashand Receivables. HWK: SE4, 6. E4, 9 21/26 Review for 2dexam. Chapter 9. Current Liabilities and the Time Value of Money. Assignment. SE3, 5, 6, 10. 28 ExamChapters 6-8. HWK: C8. Nov. 02 All Souls’ day. No School. 04 Pro-exam review. 09 Chapter 10. Internal control. 11 Veterans’ Day. No school. 16 Continue chapter 10.HWK: E4, 5, 6 and 8 18/23/25 Chapter 11. Long-Termassets. HWK: SE5, 9, E11 And 13. 30 Chapter12 Contributed Capital. Dec. 02 Continue chapter 12. HW K: SE1, 2, E4, 9 09 Chapter 13 Long-Term Liabilities. HWK: SE2, E1, Groups C9 14 FinalExam 16 Group persentations and wrap GRADING 90 – 100% = A 80 – 89% = B 70 – 79% = C 61 – 69% = D 60 – 59% = F Point Values for the Course Description Grade % Assignments/projects20% Participation 40% Quizzes 20% 2 Exams 20% Total 100% NOTE: Class schedule, assignments and grading ar e subject to change at the discretion of the instructor.