Course Syllabus

Fall 2024 | ACC-2121-VR01 - Financial Accounting

In Person Class

Standard courses meet in person at CCV centers, typically once each week for the duration of the semester.

Faculty

Michael Keogh
View Faculty Credentials
View Faculty Statement
Hiring Coordinator for this course: Deb Grant

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.

ACC-2121-VR01 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.

Artificial Intelligence(AI) Policy Statement

CCV recognizes that artificial intelligence (AI) and generative AI tools are widely available and becoming embedded in many online writing and creative applications.

Prohibited: The use of generative AI is not allowed in this course, with the exception of spellcheck, grammar check and similar tools. This course rests in the value of students engaging in the learning process without relying on AI-generated content. Students will develop critical thinking and problem-solving skills independently, owning their learning journey from start to finish. If you use these tools, your actions would be considered academically dishonest and a violation of CCV's Academic Integrity Policy.

Methods

Methods

• small and large group discussions
• interactive projects and/or activities
• multimedia presentations and resources
• readings, writing, and inquiry-based research
• professional work-based learning experiences
• interviews
• guest speakers

Evaluation Criteria

Class Participation & Attendance 25%

Homework Assignments 25%

Exam #1 25%

Exam #2 25%

TOTAL 100%

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

Full participation requires active and thoughtful engagement in class each week. The following habits and skills are important. You'll have the opportunity to self-assess and receive instructor feedback on each of these areas at the mid-point and the end of the semester.

• Attend class regularly, on-time and for the full session
• Complete all of the week's reading and assignments before the start of class
• Listen to others attentively and with an open mind
• Positively contribute to class discussions and activities
• Ask questions and seek help when you need it
• Challenge yourself to do your best work

Missing & Late Work Policy

a. Course schedule and assignments may be revised by the instructor throughout the course.

b. Cell phones, laptops, and all other electronic devices are to be turned off and put away upon entering the classroom, unless use is approved by instructor prior to class. Visible phones may be collected by the instructor.

c. Students are expected to attend every class meeting. You will have 1 excused absence. Each Absence over one will result in a one-grade reduction per absence.

d. Classroom door will be closed 5 minutes into class. Once class begins, attendance will be taken. If not present you will be marked absent. No exceptions if you are late.

e. Proof of purchase of textbook is required by the 2nd class. Lack of textbook will result in a 10 point deduction of your course grade.

f. Late assignments will not be accepted, and will therefore receive a grade of zero. Exams missed due to absence will receive a grade of zero – there are no make-up exams. Classwork missed due to absence will receive a grade of zero.

g. Students are expected to read each chapter BEFORE the first class covering that chapter.

h. All students are expected to adhere to high standards of professional and ethical conduct. Examples of unprofessional conduct include come to class late, skipping class, leaving the class while in session, sleeping, talking, and text messaging or being disrespectful or discourteous to others in class.

i. The instructor reserves the right to alter, at any time, the course plan for the term.

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