Course Syllabus

Financial Accounting

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Course Description

This course introduces students to problems of external reporting as they relate to service providers, merchandisers, and corporations. Students examine the various accounts found in financial statements and learn how to put these accounts together to render meaningful statements that communicate pertinent information to those who read them. Basic math skills are required. Students have the opportunity to take the Bookkeeping Certification from the National Association of Certified Public Bookkeepers (NACPB) in this course.

Essential Objectives

1. Recognize, classify, and record accounting transactions and describe the effect of each accounting transaction on the resultant financial statements.
2. Prepare, adjust, and close journal entries and post them to the ledger.
3. Construct an adjusted trial balance so that a proper set of financial statements can be prepared.
4. Describe and compare cash and accrual methods of accounting.
5. Analyze information and prepare buyer and seller journal entries for a merchandising business, including terms of sale.
6. Calculate inventory and cost of merchandise sold using FIFO, LIFO, average cost, retail, and LCM methods.
7. Understand the basic requirements of good internal control including reconciliation of bank accounts, and discuss ethical considerations inherent in accounting practice and decisions.
8. Estimate the net realizable value of receivables using the allowance method.
9. Calculate depreciation using straight line, units of output, and double declining balance methods.
10. Properly account for current assets; property plant and equipment; current and long term liabilities; stockholders’ equity; dividends; and bond pricing.
11. Prepare an income statement, statement of owners’ equity, and balance sheet, and be familiar with and understand the cash flow statement.
12. Explore the scope and diversity of career opportunities in the field of accounting and finance through assignments such as informational interviews, job shadows, or other career exploration activities.

Required Technology

More information on general computer and internet recommendations is available on the CCV IT Support page. https://support.ccv.edu/general/computer-recommendations/

Please see CCV's Digital Equity Statement (pg. 45) to learn more about CCV's commitment to supporting all students access the technology they need to successfully finish their courses.

Required Textbooks and Resources

This course uses one or more textbooks/books/simulations.

Fall 2024 textbook details will be available on 2024-05-20. On that date a link will be available below that will take you to eCampus, CCV's bookstore. The information provided there will be specific to this class. Please see this page for more information regarding the purchase of textbooks/books.

Link to Textbooks for this course in eCampus.

The last day to use a Financial Aid Advance to purchase textbooks/books is the 3rd Tuesday of the semester. See your financial aid counselor at your academic center if you have any questions.

Methods

Each class session will introduce new concepts and topics. Students will have an opportunity to enter discussion forums to interact with other students on questions posed by the instructor and/or other students.

Homework exercises and/or problems will be assigned for each chapter (see syllabus) and will be due on the dates specified. A short quiz will be given each week to reinforce learning of concepts in the chapter. The homework problems and quizzes will be accessed via McGraw Hill CONNECT. About a week before class starts I will provide a URL link for the student to use in order to register for the CONNECT session. I will provide more information about this as we get closer to the beginning of class.

Also, each week there will be a discussion forum referred to as "Beyond the Numbers" (BTN) on a general topic or current event in Canvas.

Students and instructor will communicate extensively through the Discussion Board and e-mail only.

Evaluation Criteria

Each student will be expected to complete weekly quizzes, assigned homework problems (Connect) and discussion forums (Canvas) by the dates specified in the syllabus. A 25-point deduction may be made for late assignments. The discussion board assignments cannot be made up. There will be two exams--a mid-term and a final.

The Canvas grade book (or where students see their grades) reflects how the final grade will be calculated:

Homework 40%

Weekly quizzes 10%

Mid-term and final examinations 30%

Participation in discussions 20%

No late midterms or final exams will be accepted. Also, there is no “Making Up” of the BTN discussion forums.

Attendance is checked by the student’s participation in the weekly BTN discussion forum and the submission of assignments.

A+ through C-: Indicates satisfactory completion of course objectives and expectations as specified in the instructor’s course description. Generally, students must earn a grade of C- or higher to fulfill program requirements.

D+ through D-: Indicates marginal performance that will not count as credit for specific program requirements or competence area requirements.

F: Indicates failure to meet course objectives and/or failure to meet grading criteria for successful completion as described in the instructor’s course description.

See also: Academic Honesty policy Academic Standing policy Complaint Resolution policy

P: Equivalent to D- or better and therefore course will not count as credit for specific program requirements or general education requirements.

NP: Indicates failure to meet course objectives and/or failure to meet grading criteria

I (Incomplete): Indicates incomplete, a temporary grade granted only in extraordinary circumstances as outlined in the Incomplete Policy.

W (Withdrawal): Indicates when a student has officially withdrawn from a course after the official drop period, but before 60% of the course duration.

NG (Not Graded): Indicates that an instructor has not yet assigned a grade to the course.

AU (Audit): Indicates that a student has requested to take the course for no credit.

Letter grades will be assigned based on the following scale:

A+ 98-100

A 93-97

A- 90-92

B+ 88-89

B 83-87

B- 80-82

C+ 78-79

C 73-77

C- 70-72

D+ 68-69

D 63-67

D- 60-62

F Less than 60

No grade is recorded or listed on the student’s transcript when a student officially drops during the official Add/Drop period.

When a course is repeated, the initial grade remains on the transcript but does not count in the calculation of a student’s cumulative grade point average.

See also: Academic Honesty policy Academic Standing policy Complaint Resolution policy

Grading Criteria

CCV Letter Grades as outlined in the Evaluation System Policy are assigned according to the following chart:

	High	Low
A+	100	98
A	Less than 98	93
A-	Less than 93	90
B+	Less than 90	88
B	Less than 88	83
B-	Less than 83	80
C+	Less than 80	78
C	Less than 78	73
C-	Less than 73	70
D+	Less than 70	68
D	Less than 68	63
D-	Less than 63	60
F	Less than 60
P	100	60
NP	Less than 60	0

Weekly Schedule

Attendance Policy

Regular attendance and participation in classes are essential for success in and are completion requirements for courses at CCV. A student's failure to meet attendance requirements as specified in course descriptions will normally result in a non-satisfactory grade.

• In general, missing more than 20% of a course due to absences, lateness or early departures may jeopardize a student's ability to earn a satisfactory final grade.
• Attending an on-ground or synchronous course means a student appeared in the live classroom for at least a meaningful portion of a given class meeting. Attending an online course means a student posted a discussion forum response, completed a quiz or attempted some other academically required activity. Simply viewing a course item or module does not count as attendance.
• Meeting the minimum attendance requirement for a course does not mean a student has satisfied the academic requirements for participation, which require students to go above and beyond simply attending a portion of the class. Faculty members will individually determine what constitutes participation in each course they teach and explain in their course descriptions how participation factors into a student's final grade.

Participation Expectations

Attendance is checked by the student’s participation in the weekly BTN discussion forum and the submission of assignments.

In the event of an emergency absence, the student must contact the instructor. Active and faithful participation is a key to doing well in this class.

Missing & Late Work Policy

All BTN posts are due on Mondays by @11:59pm. No late posts will be accepted.

Late HW and Quiz submissions will be accepted. However, up to 25 points can be deducted for late work in these areas.

Accessibility Services for Students with Disabilities:

1. Provide disability documentation to the Accessibility Coordinator at your academic center. https://ccv.edu/discover-resources/students-with-disabilities/
2. Request an appointment to meet with accessibility coordinator to discuss your request and create an accommodation plan.
3. Once created, students will share the accommodation plan with faculty. Please note, faculty cannot make disability accommodations outside of this process.

Academic Integrity