ACCOUNTING 227

FINANCIAL ACCOUNTING

Sharon Bell, CPA,CMA Phone: 521-6462

Office - Room 139 Business Administration Office Hours:T-Th 10-11

e-mail: sharon.bell@uncp.edu Fall 2001

TEXTBOOKS: Needles, Powers, Crosson, Principles of Accounting, Houghton Mifflin, 2002.

COURSE DESCRIPTION: Introduction to accounting. The study of the basic accounting equation, transaction analysis and financial statements.

At the completion of this course, students will be able to:

- Compare and contrast financial accounting and managerial accounting

- Understand the differences in accounting for the sole proprietorship, partnership, and corporate form of organization including capital structure and financing

- Explain the history and need for accounting

- Demonstrate an understanding of internal accounting control mechanisms

- Prepare specific accounting transactions and reports that relate to inventory, merchandising functions, depreciation, cash and stock transactions

- Prepare, use and analyze financial statements

CREDIT HOURS: Three semester hours

Dates	Topic	Reading
August 21	Introduction
August 23	Uses of Accounting Information and Financial Stmts	Chapter 1
August 28,30	Measuring Business Transactions	Chapter 2
Sept. 4, 6	Measuring Business Income	Chapter 3
Sept. 11,13	Completing the Accounting Cycle	Chapter 4
Sept. 18	Test 1
Sept 20, 25	Merchandising Operations	Chapter 5
Sept 27	Financial Reporting and Analysis	Chapter 6
October 2	Accounting Information Systems	Chapter 7
October 4	Internal Control	Chapter 8
October 9	Test 2
October 11	Fall Break
October 16,18	Short-Term Liquid Assets	Chapter 9
October 23,25	Inventories	Chapter 10
Oct.30, Nov. 1	Long-Term Assets	Chapter 11
November 6	Test 3
November8, 13	Current Liabilities	Chapter 12
November 15,20	Contributed Capital	Chapter 14
November 22	Thanksgiving Holiday
November 27,29	Corporate Income Statement and Stockholders’ Equity	Chapter 15
December 4	Test 4
December 6	Comprehensive Final Exam Review

TEST FORMAT: Objective, Problems, Essay

COMPOSITION OF GRADE: Tests 60%

Final Exam 15%

Homework, Quiz, 25%

MAKE UP TESTS: If a student misses a scheduled test the final exam (comprehensive) grade will be counted as one test grade. A grade of zero will be given if more than one test is missed.

ATTENDANCE POLICY: Maximum of four absences. Any student exceeding four absences will not be eligible for any additional point earning opportunities during the semester.

GRADING SCALE: 93 - 100 = A

90 - 92 = A-

87 - 89 = B+

83 - 86 = B

80 - 82 = B-

77 - 79 = C+

73 - 76 = C

70 - 72 = C-

67 - 69 = D+

63 - 66 = D

60 - 62 = D-

Below 60 = F

METHODS: Lecture, Supplementary Problems

HONOR CODE: Violations will be dealt with according to the UNCP Catalog.

OTHER REQUIREMENTS: Calculator

Any student with a documented disability needing academic adjustments is requested to speak directly to Disability Support Services and the instructor, as early in the semester (preferably within the first class week) as possible. All discussions will remain confidential.

This publication is available in alternative formats upon request. Please contact Mary Helen Walker, Disability Support Services, Career Services Center, 521-6270.