Introduction to Financial Accounting

Course Code:
ACG 2021

Credit Hours:
3

Effective beginning:
2022-23

Sections:
001, 700

 

Course Description:
An introductory course in the principles and practices of financial accounting, emphasizing the measurement and reporting of income. The basic accounting model, measuring and reporting assets, liabilities and stockholders’ equity, special reports and analyses of accounting information also are covered. Credit will not be granted for both ACG 2021 and ACG 3024.

 

Course Details

Instructors:

Sherry Klanjac, CPA

 

Required textbooks/ course materials:

Financial and Managerial Accounting, 15th, Warren/Reeve/Duchac, Cengage Publishing, 2019. ISBN: 9781337902663.

Cengage Unlimited: 

  • 1-semester subscription: ISBN 9780357700006
  • 1-year subscription: ISBN 9780357700013
  • 2-year subscription: ISBN 9780357700020

 

Assignment/course outline:

See your Instructor First Day Handout for individual instructor assignment schedule.

 

Discipline-level learning outcomes:

Associates degree in Business Administration Learning Outcomes:  

B-1 Demonstrate knowledge of the principles, practices and supervisory responsibilities of management, and ethical and legal issues in a business environment. 

B-2 Apply general business workplace competencies, including employability skills and office computer skills. 

B-3 Understand business concepts, such as accounting, HR, marketing and organization. 

B-4 Communicate effectively in oral and written form, exhibit college level computation and problem-solving skills, and interact appropriately with people of other cultures or backgrounds.

 

Course-level learning outcomes:

Course-level student learning outcomesDiscipline-level learning outcomesAssesments method for learning outcomes

Synthesize the role of the accountant in a business

B-1, B-3, B-4

Homework, tests, quizzes

Evaluate the accounting equation steps

B-1, B-3, B-4

Homework, tests, quizzes

Appraise the rules of double entry bookkeeping and apply knowledge of these rules through preparation of journal entries

B-1, B-3, B-4

Homework, tests, quizzes

Construct journal entries into ledger accounts (T-accounts) and prepare trial balance

B-1, B-3, B-4

Homework, tests, quizzes

Propose adjusting entries at the end of the accounting period

B-1, B-3, B-4

Homework, tests, quizzes

Formulate a worksheet in anticipation of preparing the financial statements

B-1, B-3, B-4

Homework, tests, quizzes

Contrast financial statements in proper form and understand how they are interrelated

B-1, B-3, B-4

Homework, tests, quizzes

Evaluate the proper accounting for the following:

  • Cash and Accounts Receivable
  • Inventories
  • Liabilities (including Mortgages and Bonds Payable)
  • Long-term assets and their depreciation
  • Present value concepts
  • Ratios
  • Cash flow statement

B-1, B-3, B-4

Homework, tests, quizzes

 

Means of accomplishing learning outcomes:

MEANS OF ACCOMPLISHING STUDENT LEARNING OUTCOMES:

In-Person

The instructor will:

  • Lecture and lead class discussions.
  • Assign readings from textbooks and/or other sources to supplement lectures.
  • Provide supplemental materials that align with the material presented in the textbook as appropriate.
  • Design assignments, quizzes, discussions, etc., to help students engage with the course material.
  • Use other teaching strategies to assist students in examining and understanding course materials as needed.
  • Provide timely feedback on assignments.
  • Hold weekly office hours to address questions and student needs outside of class time.

The students will:

  • Attend class regularly and be attentive to lectures.
  • Engage with class discussion.
  • Participate in student discussion groups.
  • Read assigned readings.
  • Complete assignments, quizzes, discussion boards, etc., as assigned by the instructor.

Online

The instructor will:

  • Lead class discussions.
  • Assign textbook and/or other readings.
  • Provide supplemental materials that align with the material presented in the textbook as appropriate.
  • Design assignments, quizzes, discussions, etc., to help students engage with the course material.
  • Use other teaching strategies to assist students in examining and understanding course materials as needed.
  • Provide timely feedback on assignments.
  • Hold weekly virtual office hours to address questions and student needs.

The students will:

  • Engage with the course regularly.
  • Engage with class discussions.
  • Participate in student discussion groups.
  • Read assigned readings.
  • Complete assignments, quizzes, discussion boards, etc. as assigned by instructor.

 

 

Printer-friendly Version:

Download Syllabus

 

College-wide policies and resources

For more specific information on Chipola's college-wide academic policies and resources available to students, visit the link below.

Policies & Resources