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					                                                 ACCT 2300
                                             Financial Accounting
                                                 Spring 2008

Instructor:       Michaele Morrow, CPA, MPA
Room Number:      BA 404
Office Hours:     TR 9:30-11:00
Phone Number:     742-2221
Email address:    michaele.morrow@ttu.edu
Web address:      http://www.michaelemorrow.name


Required Course Materials

Financial Accounting, 5th ed., Porter & Norton, softbound book

Course Objectives

Accounting is the language of business. Mastery of this language is imperative for long run business success – those
who understand accounting can better analyze the operations of a business, its financial position, and its future
prospects. A solid grasp of accounting strengthens one’s ability to make good financial and economic decisions. It
will render you better able to choose between alternative investment options, better able to make appropriate pricing
decisions, better able to manage costs, better able to allocate resources between different departments of divisions
within a business and generally better able to distinguish good companies, and good managers, from those whose
talents and prospects are only average or worse.

Learning Outcomes

Upon successfully completing this course, students will be able to:
         Describe the objectives of financial reporting
         Understand the accounting cycle
         Identify account names and their characteristics
         Demonstrate the effect of business transactions on the accounting equation
         Apply accounting assumptions, principles, and constraints to measure, record, and interpret business
            transactions
         Use the rules of debit and credit to record transactions
         Combine individual measurements of accounting elements into financial statements
         Demonstrate an understanding of the relationships of the elements on the financial statements

Assessment Methods

The expected learning outcomes for the course will be assessed through exams, in-class application activities,
homework, and quizzes. To be successful, you must devote sufficient time and attention to homework and
assignments. Although they count, in the aggregate, for 43% of your final course grade, those who do not actively
participate in the learning process, through completion of these activities and reading assignments, will find that
they do not do as well on examinations. Thus, homework, assignments, etc., will have an indirect impact on your
final course grade as well.

Course activities will carry the following weights:

         Regular Exams (3)                                              300 points
         Final Exam – Comprehensive                                     100 points
         Homework Assignments                                            60 points
         Individual Quizzes                                              50 points
         Group Quizzes                                                   50 points
         Group Assignments                                               50 points
         Group Project                                                   50 points
         Group Participation                                             10 points
         Peer Evaluation                                                 30 points
            Total                                                       700
To receive an A, you must accumulate 630 points; for a B, you must accumulate 560 points, 490 for a C and 420 for
a D. Please note that the grading process is a mathematical calculation of the components listed above. Your grade is
not negotiable or open for bid at the end of the semester. Extra credit is not available. All students will be graded
equally and fairly. If you come to class regularly, read the assigned material, do the assigned exercises, participate in
class discussion and group work activities, and study for the exams, you should do well in this course and feel good
about what you have achieved. Your success is important to me.

Exams

The regular exams and final exam are uniform for all ACCT 2300 Financial Accounting classes. The final
exam will be comprehensive.

All regular exams are scheduled from 6:30 to 8:00 p.m. in the evening. The final exam will be given on
Friday afternoon, May 2nd.

If one of the regular exams must be missed due to official university activities, the student will be allowed
to take the exam early if prior notification is provided. If one of the regular exams must be missed due to a
legitimate reason approved by the instructor (illness, death in family), the student will be allowed to double
the comprehensive final exam. Exams generally will not be taken late.

A photo ID is required for all exams.

Graded exams will be kept by the instructor until the end of the semester. Students may review the graded
exams during scheduled office hours.

Academic Dishonesty

Cheating will absolutely not be tolerated. Any student found cheating on any assignment will receive an F
for the course. In egregious circumstances, your instructor, with the full support of the Director of the Area
of Accounting, will pursue more substantial sanctions, up to and including expulsion from the College or
University. Do not test this policy. Integrity is a minimum requirement for all students participating in
accounting courses in the College of Business. Those who lack it should not plan to enroll in subsequent
accounting courses.

Homework Assignments

All homework assignments will be turned in on WebCT. Specific due dates and times for assignments are
listed on the attached sheet. You are encouraged to do homework assignments with your group members,
but each individual must turn in his/her own assignments. Late homework will not be accepted under any
circumstances. Servers can and will go down, so plan accordingly and do not wait until the last minute to
do your homework. Homework solutions will be posted after the due date for the homework assignment.
This component will be worth 60 points total, with each assignment worth 5 points.

Individual Quizzes

An individual quiz will be given for each chapter (beginning with Chapter 2) BEFORE the material is
presented in class. This is to help you learn to delve into the material on your own and be prepared to
further explore the material in class. Quizzes will consist of five multiple choice questions, mainly
definitional with one or two problems that require working through. This will require careful reading of the
chapter beforehand. The lowest quiz grade will be dropped at the end of the semester. Quizzes will be
worth 5 points each, for a total of 50 points.

Group Quizzes

After the individual quiz is taken, students will take a group quiz with their group members. This will be
the same quiz as the individual quiz taken immediately before. You must be present to get credit for the
group quiz. The only exception to this is a university excused absence. The lowest quiz grade will be
dropped at the end of the semester. Quizzes will be worth 5 points each, for a total of 50 points.
Group Assignments

A problem will be assigned for 10 of the 12 chapters to be worked in groups (sometimes in class,
sometimes outside of class.) This problem should cover many of the aspects of the chapter and serve as a
good review. It will be turned in on paper to me, not on WebCT. Group members have the option to only
include the names of those group members who assisted with the assignment. Group assignments will be
worth 5 points each, for a total of 50 points.

Group Project

This project will cover all of the concepts addressed in the class and will be discussed more in depth after
Exam 1. The project will be worth 50 points.

Group Participation

Each group will be graded on their participation in and out of class. In class participation will be based on
individual group members answering questions and attendance of group members. Out of class
participation will be based on postings on the discussion board on WebCT. I will evaluate you as well as
your classmates. This component will be worth 10 points.

Peer Evaluation

Since the class involves a significant amount of group work, you will be asked to evaluate your group
members mid-semester and at the end of the semester. You will be allowed to give me detailed feedback on
the performance of other group members. It is also at the discretion of the group to not include the names of
group members who don’t participate on various assignments or on the group project. The first evaluation
will be worth 10 points and the second worth 20 points, for a total of 30 points.

Other

This class will be heavily integrated with WebCT and my personal website. All homework assignments,
grade postings, and email communication will be on WebCT. My website is a resource for slides, review
materials, homework solutions, and anything else I deem important in the learning process. Additionally, a
portion of your group participation grade will be determined based on postings on the discussion board.
This class will involve a lot of active learning. If you are not willing to take part in the class, your grade at
the end of the semester will reflect as such.

Disabling Conditions:

Any student who, because of a disabling condition, may require special arrangements in order to meet
course requirements should contact the instructor the first week of classes to make necessary
accommodations.

Civility in the classroom

The Texas Tech University Provost has asked that the following statement be included in this syllabus:

         “Students are expected to assist in maintaining a classroom environment which is conducive to
         learning. In order to assure that all students have an opportunity to gain from time spent in class,
         unless otherwise approved by the instructor, students are prohibited from using electronic devices,
         challenging instructor’s authority, eating or drinking in class, coming in late or leaving early,
         making offensive remarks, reading newspapers, sleeping or engaging in any other form of
         distraction. Inappropriate behavior in the classroom shall result in, minimally, a request to
         leave class.”

Religious Holidays

A student who is absent due to a religious holy day will be allowed to take an exam or complete an
assignment missed on that day.
Changes

This syllabus is subject to change. Any changes in assignments or due dates will be announced in class
and/or posted on the website. It is the responsibility of each student to attend class and become aware of
such changes.

Rawls College of Business Career Management Center

The Career Management Center (CMC) is a convenient resource for business administration students to
obtain internships and full-time jobs. You are encouraged to register with the CMC on RawlsCONNECT (a
database used by employers to find out more about you) before the end of your sophomore year. The CMC
can also assist you in developing your resume and honing your interview skills. Contact the CMC for more
information by calling 806.742.4530, accessing the website at www.rawlscmc.ba.ttu.edu, visiting their
office in BA 169, or emailing rawlscmc@ba.ttu.edu.
                 Accounting 2300 Reading Assignments


Intro Chapter: pages 3-9

Chapter 1: pages 14-29
In-class assignment: E1-3, E1-8

Chapter 2: pages 58-83
In-class assignment: P2-3A

Chapter 3: pages 102-121
In-class assignment: E3-13, E3-14

Chapter 4: pages 146-172
In-class assignment: P4-3, P4-1A

Chapter 5: pages 206-232
In-class assignment: E5-13

Chapter 6: pages 264-273
In-class assignment: E6-1

Chapter 7: pages 286-299
In-class assignment: P7-1A, P7-2A

Chapter 8: pages 318-337
In-class assignment: none

Chapter 9: pages 358-378
In-class assignment: E9-4

Chapter 10: pages 408-421
In-class assignment: none

Chapter 11: pages 442-456
In-class assignment: P11-3, P11-13

Chapter 12: pages 482-503
In-class assignment: P12-1A
                Accounting 2300 Homework Assignments

   These problems are subject to change based on any unforeseen
events in class. If there is a change, it will be announced in class and
  this schedule will be updated on my website and on WebCT. ALL
    PROBLEMS ARE TO BE TURNED IN THROUGH WEBCT!! NO
                              EXCEPTIONS!!

Chapter 1: E1-5, E1-6, E1-7, E1-10, P1-5
Due Thursday, January 17, 2008 at midnight

Chapter 2: E2-1, E2-2, E2-5, E2-8, P2-3, P2-7
Due Thursday, January 24, 2008 at midnight

Chapter 3: E3-3, E3-6, E3-9, E3-10, P3-9, P3-10
Due Tuesday, February 5, 2008 at midnight

Chapter 4: E4-15, E4-16, E4-20, E4-24, P4-1
Due Thursday, February 14, 2008 at midnight

Chapter 5: E5-1, E5-7, E5-11, E5-12, E5-14, P5-11
Due Thursday, February 28, 2008 at midnight

Chapter 6: E6-2, P6-1
Due Thursday, March 6, 2008 at midnight

Chapter 7: E7-6, P7-1, P7-2
Due Monday, March 10, 2008 at midnight

Chapter 8: E8-1, E8-3, E8-4, E8-5, E8-6, E8-7, E8-11
Due Thursday, March 27, 2008 at midnight

Chapter 9: E9-1, E9-5, E9-7, E9-12, E9-17, E9-18
Due Thursday, April 3, 2008 at midnight

Chapter 10: E10-2, E10-3, E10-18, P10-9, P10-9A
Due Thursday, April 10, 2008 at midnight

Chapter 11: E11-3, E11-4, E11-5, E11-6, E11-7, E11-8
Due Thursday, April 24, 2008 at midnight

Chapter 12: E12-2, E12-9, E12-10, E12-12, E12-13, P12-1
Due Thursday, April 24, 2008 at midnight
                  Accounting 2300 Group Assignments

  These problems are subject to change based on any unforeseen
events in class. If there is a change, it will be announced in class and
             this schedule will be updated on my website.

Chapter 1: P1-5A
Due Thursday, January 17, 2008 at 8:00 a.m.

Chapter 2: P2-7A
Due Thursday, January 24, 2008 at 8:00 a.m.

Chapter 3: P3-13
Due Tuesday, February 5, 2008 at 8:00 a.m.

Chapter 4: P4-4
Due Thursday, February 14, 2008 at 8:00 a.m.

Chapter 5: P5-11A
Due Thursday, February 28, 2008 at 8:00 a.m.

Chapter 6: P6-1A
Due Tuesday, March 4, 2008 at 8:00 a.m.

Chapter 7: P7-8A
Due Tuesday, March 11, 2008 at 8:00 a.m.

Chapter 8: none

Chapter 9: P9-1
Due Thursday, April 3, 2008 at 8:00 a.m.

Chapter 10: none

Chapter 11: P11-13A
Due Tuesday, April 22, 2008 at 8:00 a.m.

Chapter 12: P12-4A
Due Thursday, April 24, 2008 at 8:00 a.m.
                         Schedule of Activities

Chapter        Week of     Topic                                      Reading and Homework
Introduction   Jan. 7      Getting Started in Business

1&2            Jan. 14     Accounting as a Form of Communication        E1-5, E1-6, E1-7, E1-10
                                                                        P1-5
MARTIN LUTHER KING HOLIDAY, JAN. 21

2&3            Jan. 21     Financial Statements & the Annual Report     E 2-1, E 2-2, E 2-5, E 2-8
                                                                        P 2-3, P 2-7

3              Jan. 28     Processing Accounting Information            E 3-3, E 3-6, E 3-9, E 3-10
                                                                        P 3-9, P 3-10

4              Feb. 4      Income Measurement and Accrual               E 4-15, E 4-16, E 4-20
                           Accounting

4              Feb. 11     Income Measurement and Accrual               E 4-29, P 4-1
                           Accounting

EXAM 1                     Tuesday, Feb. 19, 6:30 – 8 PM

5              Feb. 18     Inventories & Cost of Goods Sold             E 5-1, E 5-7, E 5-11, E 5-12
                                                                        E 5-14, P 5-11

6              Feb. 25     Cash & Internal Control                      E 6-2, P 6-1


7              Mar. 3      Investments & Receivables                    E 7-6, P 7-1, P 7-2


EXAM 2                     Tuesday, Mar. 11, 6:30 – 8 PM

8              Mar. 10     Operating Assets                             E 8-1, E 8-3, E 8-4, E 8-5,
                                                                        E 8-6, E 8-7, E 8-11
LAST DAY TO DROP, WED., MARCH 12

SPRING BREAK, MARCH 15 - 24

9              Mar. 24     Current Liabilities                          E 9-1, E 9-5, E 9-7, E 9-12,
                                                                        E 9-17, E 9-18,

10             Mar. 31     Long Term Liabilities                        E 10-2, E 10-3, E 10-18

10             Apr. 7      Long Term Liabilities                        P 10-9, P 10-9A


EXAM 3                     Tuesday, Apr. 15, 6:30 -- 8 PM

11             Apr. 14     Stockholders’ Equity                         E 11-3, E 11-4, E 11-5,
                                                                        E 11-6, E 11-7, E 11-8

12             Apr. 21     Statement of Cash Flows                      E 12-2, E 12-9, E 12-10

12             Apr. 28     Statement of Cash Flows                      E 12-12, E 12-13, P 12-1

FINAL EXAM                 Friday, May 2, 4:30 – 7 PM

				
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