ACG3101

Financial Accounting and Reporting

Course Code:
ACG 3101

Credit Hours:
3

Effective beginning:
2022-23

Sections:
000

 

Course Description:
This course reviews the basic accounting cycle, financial statement preparation, and the framework of accounting theory. Included in this course is an in-depth study of accounting for current assets, fixed assets, depreciation, and intangible assets. This course is designed for the accounting major and the general student of business interested in the underlying principles for recording and reporting of financial information for general purpose financial statements. The course presents the theoretical setting for accounting practices and procedures. When alternative positions can be taken on matters of theory and practice, such alternatives and the positions of leading authorities are discussed. In addition to pointing out the conflicts that exist within the traditional structure of accounting, the course strives to provide the student with an analytical basis for making his/her own evaluation of controversial areas.

 

Course Details

Prerequisites:

ACG 2021

 

Instructors:

Sherry Klanjac, CPA

 

Required textbooks/ course materials:

Intermediate Accounting: Reporting and Analysis (loose-leaf), 3rd, Wahlen/Jones/Pagach, Cengage Publishing, 2019. ISBN: 9780357642115.

Cengage Unlimited:

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

 

Assignment/course outline:

See first-day handout.

 

Discipline-level learning outcomes:

Bachelor of Science in Business Administration degree Learning Outcomes:

BA-1 Exhibit knowledge of accounting, finance, management, legal, operations and marketing. 

BA-2 Identify MIS, economics, technology, statistical data and decision support tools for making effective business decisions.

BA-3 Recognize the impact of today’s global economy, diversity and cultures on businesses.

BA-4 Comprehend how effective leadership, teamwork and ethics relate to best business practices.           

BA-5 Use effective oral and written communication skills, including effective research techniques. 

 

Course-level learning outcomes:

Course-level student learning outcomesDiscipline-level learning outcomesAssessment methods

Synthesize the role of the accountant in business and the opportunity for an accounting career in other area

BA-1, BA-2, BA-3, BA-4, BA-5 Homework, tests, quizzes

Evaluate and understand the accounting equation

BA-1, BA-2, BA-3, BA-4, BA-5 Homework, tests, quizzes

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

BA-1, BA-2, BA-3, BA-4, BA-5 Homework, tests, quizzes

Formulate adjusting entries at the end of the accounting period along with alternative ways of doing entries that were not covered in ACG 2021

BA-1, BA-2, BA-3, BA-4, BA-5 Homework, tests, quizzes

Appraise a worksheet in anticipation of preparing the financial statements. Emphasize the use of closing entries to adjust the temporary accounts.

BA-1, BA-2, BA-3, BA-4, BA-5 Homework, tests, quizzes
Evaluate financial statements in proper form and understand how they are interrelated BA-1, BA-2, BA-3, BA-4, BA-5 Homework, tests, quizzes

 

 

Means of accomplishing 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.

 

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