ACCT 240, Principles of Accounting I - Syllabus, Spring 2009
Sections 02 and 04
Last updated: Monday, January 12, 2009, 11:55 AM.
OBJECTIVES
This course begins the study of financial accounting. During the semester, students should (1) gain an understanding of the basics of financial reporting, (2) learn how accounting records are created and maintained, (3) learn some of the ways financial information can be used to aid decision making, and (4) develop an appreciation of the constant evolution of accounting standards.
ADDITIONAL READINGS
To better meet these objectives students are expected to regularly read The Wall Street Journal and other business publications. Students will also regularly access and read accounting related files and publications available on the Internet. (One list of business related sites is at http://www.longwood.edu/staff/brownwp/wpbbusi.htm.)
TEXT
Fundamental Financial Accounting Concepts, 6th edition, by Edmonds et al (2008, McGraw-Hill Irwin).
GRADES
Each student's grade will be computed using the following weights:
| |
Individual Quizzes & Homework |
15% |
| |
Tests (2) |
55 |
| |
Final Exam |
30 |
| |
|
100%
==== |
90.0% or more earns an A; 80.0% to 89.9% earns a B; etc.
Homework
Written homework consists of questions and problems to be completed online at McGraw-Hill's (the text book publisher) web pages. These items are due on the date specified in the assignment schedule.
The In Class problems on the assignment schedule should be reviewed prior to class for discussion in class. These problems are not to be handed in although groups may be asked to present a solution (see below).
Company Report
Each individual will research and report on a a publicly traded corporation. The specific content of this report is detailed in a file which can be downloaded from http://www.longwood.edu/staff/brownwp/240proj08S.doc. (This file is in MS-Word format.) Note that (1) each student must select a different company and (2) the selected companies must be on an approved list that will be available outside my office. These companies all have a presence on the World Wide Web and all are incorporated in the United States and registered with the Securities & Exchange Commission. Selection priority will be first-come, first-served. The report will be due in two sections on the dates shown on the assignment schedule. One third of the homework grade will be determined by the Company Report.
Company Reports may be submitted using email (brownwp@longwood.edu) only if you can figure out how to attach only the financial statements (NOT the entire Form 10-K or annual report).
Quizzes
Several short quizzes may be given during the semester. Quizzes will be of about 10 minutes duration. These short quizzes cannot be made up but a valid excuse (see below) may eliminate a quiz entirely from computation of the final grade. Students who are late on the day a quiz is given at the start of class will have the time remaining, if any, to complete the quiz.
Tests
Three tests will be given during the semester on the dates indicated in the class schedule. Tests may be rescheduled on an individual basis if a valid excuse is approved by the Dean of the College of Business & Economics. Generally, hangovers, heavy dates, upcoming parties, and/or several tests on the same day will NOT be considered as valid excuses by the Dean or anyone else.
Final Exam
A comprehensive exam will be given at the day and time specified in the Longwood University exam schedule.
Attendance & Participation
Attendance is expected. As noted above, quizzes cannot be made up. Also, experience indicates that those who regularly cut class (1) do not turn in homework on time (if at all) and (2) usually do poorly on tests.
Participation in group activities is mandatory.
No Extra Credit Assignments
No additional assignments for extra credit will be made for any individual.
STUDY ASSISTANCE
The Longwood Learning Center provides tutors for students having difficulties in any class.
In addition to my regular office hours, I am available, by appointment, to meet with any student to discuss the content of this class. I urge anyone who is having difficulty understanding something to see me as soon as possible. A good understanding of the first three chapters, in particular, is crucial to doing well in the remainder of this course.
An online tutorial which accompanies the textbook is available.
HONOR CODE
All students are expected to comply with both the spirit and the letter of the Longwood University Honor Code. While study groups are encouraged to do study together, individual assignments (including homework) must be completed by each individual working alone.
The faculty of the College of Business and Economics authorized including this statement in course syllabi.
Academic Dishonesty Policy: Cheating in any form will not be tolerated in the College of Business and Economics. If the instructor determines that a student has cheated on an assignment, the grade of "F" may be assigned for the entire course. "Cheating" is the use of unauthorized resources and/or work of another including but not limited to homework, tests, papers, presentations and exams. Unless specifically instructed otherwise, students are to assume that all coursework is to be the work of the individual student alone. If a student is unsure as to whether collaboration is permitted, the professor should be contacted in advance of performing the work.
COMMENTS
Students can expect to spend a minimum of 3 hours working on accounting outside of class for each classroom hour. This equals about 9 hours per week plus 3 hours of classroom time. Each of you must decide upon a set of priorities for allocating time among this and other courses, job, family, recreation, etc. This is a personal decision that you will have to make for yourself. Whatever choices are made, each person will have to abide by the consequences of the decision.
As with most university courses, an individual student will get no more out of this course than he or she puts into it. It is important that each of you come to class prepared for the day's assigned topics. To be prepared (1) read the assigned chapter(s) including the examples and (2) review the In-class questions and problems and determine the answer, if possible. Be ready to both answer questions in class and to ask questions about aspects of the material not understood.
OTHER ISSUES
Bad Weather: Students should become familiar with the University's policy on bad weather. In a nutshell, if the University is open students residing on campus are expected to attend class. Students residing off campus are expected not to take undue risks in attempting to get to school.
Computer Usage: All students must have an active email account. Students must enroll in and regularly use the Blackboard site for this course.
Other computer resources in the library and on the Internet will also be used by all students. Sessions outside of class meeting time will also be scheduled as needed for those students who need to learn use of web-browsers, search engines and other resources to locate and exploit information on the Internet.
Updates: Revisions to this syllabus or the assignment schedule will appear on the Longwood web server at http://www.longwood.edu/staff/brownwp/acct240.htm.
Disability access: Students wishing to resquest accomodation for a disability should begin that process by contacting
Dr. Sally Scott, Director of Disability Services
mailto:@longwood.edu
434.395.2392(voice)
800.828.1120(TT relay).
Academic Policies: Longwood's Academic Probation/Suspension Policy is online at http://www.longwood.edu/registrar/acadpol.htm#Academic%20Probation/Suspension%20Policy.
My office hours are shown at http://web.longwood.edu/staff/brownwp/wpboffhr.htm.
The assignment schedule for this course is at http://www.longwood.edu/staff/brownwp/asgn240.htm.
If you have any questions, please e-mail me at brownwp@longwood.edu.
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