ACCT 2010 - Principles of Accounting I (Financial Accounting) Syllabus and Study Guide

Course Overview

General Description of Subject

Financial Accounting is the language of business. This course introduces students to the principles and practices of financial accounting, focusing on the preparation, analysis, and interpretation of financial statements. The course is designed for students to understand how accounting information is used in decision-making by various stakeholders, including investors, creditors, and management.

• Objective: To provide a foundation in financial accounting concepts and procedures.

• Application: Emphasis on real-world business scenarios and ethical considerations.

Course Structure

Topics Covered

The course covers the following major topics, which align with standard Financial Accounting curriculum:

• The Financial Statements – Understanding the balance sheet, income statement, statement of cash flows, and statement of stockholders' equity.

• Transaction Analysis – Recording and analyzing business transactions using the accounting equation.

• Accrual Accounting and Income – Differentiating between cash and accrual accounting, recognizing revenues and expenses.

• Internal Control and Cash – Safeguarding assets and ensuring accuracy in financial reporting.

• Receivables and Revenue – Accounting for accounts receivable and recognizing revenue.

• Inventory and Cost of Goods Sold – Methods for inventory valuation and calculation of cost of goods sold.

• Plant Assets, Natural Resources, and Intangibles – Accounting for long-term assets and amortization.

• Current and Contingent Liabilities – Identifying and measuring liabilities.

• Long-Term Liabilities – Bonds, notes payable, and related accounting.

• Stockholders' Equity – Issuance of stock, dividends, and equity transactions.

• The Statement of Cash Flows – Preparing and analyzing cash flow statements.

• Financial Statement Analysis – Using ratios and other tools to interpret financial statements.

Course Level Outcomes

• Identify, analyze, and record accounting transactions in proper accounts.

• Prepare and interpret basic financial statements.

• Analyze the impact of accounting events on the organization’s financial statements.

• Employ ethical reasoning in accounting scenarios.

Required Materials

Textbook

• Financial Accounting by Thomas, Tietz, et al. (4th edition), Published by Pearson.

• Pearson My Accounting Lab (MAL) – Online platform for homework, quizzes, and exams.

Grading and Evaluation

Grading Components

Component	Points
Quizzes (11 total)	135
Dynamic Study Modules	112
Homework	111
Engagement (iClicker)	50
Mid-term Exam	200
Final Exam	300
Total	908

Grading Scale:

• A: 90% and above

• B: 80% - 89%

• C: 70% - 79%

• D: 60% - 69%

• F: below 60%

Assessment Details

Quizzes

• 11 quizzes throughout the semester, each worth 15 points.

• Lowest quiz grade will be dropped.

• Quizzes cover chapter material and are administered online via My Accounting Lab.

Exams

• Mid-term and Final Exams are comprehensive and cover multiple chapters.

• Exams are administered in person and online, with strict rules regarding calculators and academic integrity.

Homework and Study Modules

• Dynamic Study Modules and homework assignments are completed online.

• Assignments reinforce key concepts and provide practice for exams.

Course Policies

Attendance and Participation

• Regular attendance and active participation are required for success.

• Engagement is tracked via iClicker responses and online activities.

Academic Integrity

• Plagiarism, cheating, and unauthorized collaboration are strictly prohibited.

• All work must be original and completed independently unless group work is specified.

Communication

• Students are expected to check email and Canvas regularly for updates and assignments.

• Instructor is available during office hours and by appointment.

Support Services

• Academic support is available through the UNT Learning Center and other campus resources.

• Students with disabilities should contact the Office of Disability Access for accommodations.

Additional Information

• Course schedule, assignment due dates, and exam dates are posted on Canvas and My Accounting Lab.

• Students are responsible for keeping up with all course requirements and deadlines.

Example: The Accounting Equation

The accounting equation is the foundation of financial accounting:

$\text{Assets} = \text{Liabilities} + \text{Stockholders' Equity}$

This equation must always balance and is used to record and analyze all business transactions.

Example: Financial Statements

• Balance Sheet: Shows a company's financial position at a specific point in time.

• Income Statement: Reports revenues and expenses over a period, showing net income or loss.

• Statement of Cash Flows: Details cash inflows and outflows from operating, investing, and financing activities.

• Statement of Stockholders' Equity: Shows changes in equity accounts over time.

Prerequisites

• Completion of college-level mathematics (MATH 1100 or higher).

• ACCT 2010 is a prerequisite for advanced accounting courses.

Ethical Reasoning in Accounting

• Accountants must adhere to ethical standards and principles.

• Ethical dilemmas may arise in financial reporting, requiring professional judgment.

Summary

This syllabus provides a comprehensive overview of the Principles of Accounting I course, including topics, outcomes, grading, policies, and support resources. Students are expected to engage actively, maintain academic integrity, and utilize available resources for success in financial accounting.