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ACCT 2101
PRINCIPLES OF ACCOUNTING I
SPRING 2021
Instructor: Holly Hawk, PhD, CPA, CGMA TA: Please see below
Office: B303 Amos Hall Accounting Lab: Virtual Zoom
Office hours: By appointment online Lab hours: M – Th 12:00PM – 9:00PM
Course Delivery : Hybrid Synchronous F 12:00PM – 5:00PM
Teaching Assistants:
1. 9:30AM Tulsi Patel [email protected] By appointment
2. 11:00 AM CeCe Brants [email protected] 3 – 4 PM Tuesday
3. 12:30 PM Matthew Clinton [email protected] 3 – 4 PM Thursday
Please reach out via email to each TA to schedule a personal 1-1 Zoom session for office hours.
Course Delivery:
Each of you signed up to either attend class based a “hybrid synchronous” or a “virtual” course delivery mode. If you signed up for the hybrid synchronous version of the class, I expect you to attend class in person on your assigned days (I will prepare a rotating schedule for students to attend face to face class) and to participate virtually via Zoom on days that you are not assigned to attend in person. Others signed up for the virtual version of the class. I expect you to participate virtually every day on Zoom. The class meets from on Tuesdays and Thursdays. You are required to participate every single day at your assigned time.
Course Overview: ACCT 2101 provides the first exposure to financial accounting, the language of business. Students will learn how the economic activities of a business are described and reported in a company’s financial statements and how the information in those financial statements can be used to assess risk and performance. Specifically, students will learn to apply concepts and principles related to financial statements used in decision making for investing, control, and risk assessment.
This is the first of two accounting courses providing the foundation for future business study. The second course, ACCT 2102, examines the use of managerial accounting information in planning and controlling the operations of a business. Courses in more advanced accounting, business economics, operations, corporate strategy, finance, and marketing will require you to work with financial information and concepts taught in the ACCT 2101/2102 course sequence.
Course Objectives: Students will learn basic principles of financial accounting related to the following topics.
- Transactions analysis
- The accounting cycle
- Preparation of the financial statements
- Merchandising operations
- Inventories
- Internal controls
- Receivables
- Long-term assets
- Liabilities
- Stockholders’ equity
- Cash flows
- Ratio analysis
Course Outcomes:
- Students will describe basic concepts, principles, and assumptions underlying financial accounting.
- Students will contrast the four general purpose financial statements and explain how the statements articulate.
- Students will outline the financial accounting cycle.
- Students will use generally accepted accounting principles to account for key items on the financial statements.
- Students will interpret financial statements using ratio analysis.
Resources: Required Text: Financial Accounting for Undergraduates (4 th^ edition), by Wallace, Nelson, and Christensen, Cambridge Business Publishers, 2020 (ISBN: 978-1-61853-308-1). Course Website: Also required is a (free) subscription (that comes with your text) to myBusinessCourse (mBC). All class materials such as PPT slides (pre- and post-class), class handouts, solutions, etc. will be available through myBusinessCourse. Note that this is also where you will provide homework answers and take pre-class reading assessments. We will not have an eLC website. Please see the additional information below about how to register and use mBC.
Temporary mBC Access Code:
dEq6BgpYaCMqNwuE
Temporary eBook Access Code:
qYy7efszedNjcjWe
Recommended Calculator: BA II Plus calculator
Communication & Email Etiquette: All emails should be respectful and contain a proper salutation. Beginning with “Hey” is unprofessional.
All emails should be directed to the following email account: [email protected] with the following as the subject line: Section Time – Last Name, First Initial – Brief 2-3 words describing email. For example,
9:30 – Hanson, S – Athlete Exam Excused 11:00 – Jones, L – Bonds Question 12:30 – Smith, K – Accounting Lab Hours
Emails not appropriately labeled in the subject line will receive less-timely responses.
We will monitor this account regularly and will strive to respond promptly. If you do not
receive a response, it is likely because you have incorrectly labeled your subject line, the
answer is contained in the syllabus, the answer has been previously announced in class or
is posted as an announcement on mBC.
Success in this Course: Accounting is a subject where concepts continue to build on one another throughout the semester. Not only will you learn about financial accounting, but you will also develop higher-level critical thinking skills in order to be successful in future upper-level courses. The following suggestions and/or techniques have served students well in the past:
Read the assigned pages in the chapter prior to the initial class discussion on the topic. You need to become familiar with the material before class since the class discussion will take you to a deeper level into the material than is covered in the book. Your reading is a prerequisite to gaining a complete understanding of our class discussions.
Midterm examination 1 100 Midterm examination 2 100 Midterm examination 3 100 Comprehensive Final examination (optional) * Reading assessment quizzes 25 Homework 25 Special projects 25 Participation 25 Total 400
- The comprehensive final exam is optional. For those who choose to take the final exam for credit, your score on the final will replace the raw score of your lowest mid-term grade. I will assign final grades based on your total points earned as follows (with no exceptions):
370 to 400.0 points: A
358 to <370 points: A-
346 to <358 points: B+ 330 to <346 points: B
318 to <330 points: B-
306 to <318 points: C+ 290 to <306 points: C
278 to <290 points: C-
250 to <278 points: D 0 to <250 points: F
Exams: Exams may consist of multiple choice questions, short-answer exercises, and longer problems. Midterm exams will be given on the following evenings:
Monday, February 8 th Monday, March 15 th Monday, April 19th
Please put these dates on your calendar now. The optional final exam will be given on the evening of Friday, May 7 th^ from 7:00-10:00 PM. This comprehensive final exam is OPTIONAL and, if you take it for credit, your score will replace your raw score on your lowest mid-term. Since you do not yet know whether you will need to take the final, please mark your calendar for this date as well. The final will be comprehensive and will include material from all three midterms. There are generally no make-ups for missed mid-term exams unless determined in advance with your instructor. If you miss a mid-term exam, the general rule is that you will need to take the comprehensive final exam to replace your missing exam score.
All exams are closed book and closed notes. You will be allowed to use a calculator during the exams, but all other electronic devices are strictly prohibited. All three examinations will be administered from 7:00 – 9:00 PM on the dates listed in the syllabus. Your exam rooms will be noted in mBC. If you have a class conflict or University sponsored event coinciding with any of these exams, you need to inform me by Tuesday, January 28 th^ (strict deadline) and support your conflict based on your official fall schedule printed through Athena or some other official UGA documentation. If you do not make arranges by this deadline and you miss an exam, you will need to take the comprehensive final to replace the zero you will receive for missing that mid-term.
There are generally no make-ups for missed exams. If you have to miss an exam due to extenuating circumstances such as a health emergency requiring medical care, you must send me an email BEFORE the test is scheduled to begin AND provide documentation from a physician that clearly states that you should be excused from the exam on the specified date. Merely seeing a doctor on the day of the exam is NOT an acceptable excuse. The note must be on official letterhead, signed and dated by a licensed physician, and should contain a name and phone number so that the authenticity of the note can be verified. I reserve the right to verify the authenticity of your documentation. In case of a religious observance falling on an exam date, you are responsible to inform me about the conflict by August 29 th^ in order to make accommodations for the conflict. Job interviews, travel plans, and other non-university sponsored activities are not acceptable excuses for missing an exam.
Reading Assessment Quizzes: You are expected to have read assigned reading before the material is introduced in class. In order to ensure that you are well prepared to maximize your in-class learning, you are required to take an on-line (via mBC), pre-class reading assessment (RA) quiz prior to class on the date the assignment is due. Each RA quiz generally contains 4-
5 multiple choice or short answer questions that test basic knowledge of the required reading material for that class. The quizzes are to be completed online using mBC. You must complete each quiz on mBC by 7:00 AM on the class date assigned. I recommend that you plan to take them the night before the class period. You will be allowed to attempt each quiz twice; the highest score will be recorded as the grade for that quiz. I will drop your two lowest quiz scores for the semester in calculating your final grade.
To acquaint you with the process, the first quiz is for practice only. It is based on the assigned reading for that day (and is therefore relevant to your learning) but it will not be graded.
RA quizzes are to be completed individually. Once you have begun the quiz you may not study or consult with another student regarding the contents of the quiz until after the submission deadline has passed. Note that RA quizzes will not be re-opened on mBC if you miss a deadline. You are responsible to meet all deadlines.
Homework: Homework is to be completed after covering a topic in class. Each homework assignment is to be completed online using mBC and must be completed by 7:00 AM on the class date assigned. I recommend that you plan to complete your homework at least by the night before the next class period. You will be allowed to attempt each homework assignment twice, with the highest score recorded as the grade for that assignment. I will drop the two lowest scores of the semester in calculating your final grade.
You may work together on homework and you may ask questions in the accounting lab. However, each person must complete the homework assignments on mBC individually. Note that homework assignments will not be re-opened on mBC if you miss a deadline. You are responsible to meet all deadlines.
Special Projects: During the semester, you will complete two special group projects. The first is a comprehensive accounting cycle problem that draws on material you will learn in Chapters 1 through 3. The accounting cycle problem will be assigned in two parts with the first part due after Chapter 2 and the second part due after Chapter 3. The second group project will be a comprehensive financial statement analysis project drawing on ratio analysis techniques that we will learn in each chapter throughout the semester. This project will be completed after Chapter 13 with a due date near the end of the semester. I will provide more details on both projects later in the semester.
Participation: To encourage you to stay current with the material we will be learning AND to encourage you to participate in class videos every day , we may take random quizzes at the beginning, middle or end of each class. I will drop the lowest three quiz grades over the course of the semester. Active participation is a key component to your learning experience. We will frequently complete work in class in groups. Since you may not physically be with a group, I ask that you print out the class handout and work through the group exercises on your own or either with your group online.
Additional Information: myBusinessCourse.com (mBC) is a web-based learning and assessment program associated with the course textbook. If you buy the book new, an access code to myBusinessCourse is provided for free (scratch off the code inside the textbook). If you buy the book used, you can purchase an access code via the myBusinessCourse website. I will distribute specific instructions for registering for mBC via email.
If you purchase a new book (recommended), enter the access code inside the textbook. Otherwise, select "Purchase Access" online. You will need mBC to complete the required RA quizzes and homework assignments prior to coming to class each day.
There are also two optional but recommended resources available to you on mBC:
eLectures are short, narrated videos corresponding to the Learning Objectives identified in the textbook and prepared by the textbook authors. Guided Examples are short, narrated videos explaining the solutions to the “Your Turn” problems in each chapter (these solutions can also be found printed in the textbook) and selected Problems at the end of each chapter (these solutions are not available in the textbook).
Academic Honesty: As a University of Georgia student, you have agreed to abide by the University’s academic honesty policy, “A Culture of Honesty,” and the Student Honor Code. All academic work must meet the standards contained in “A Culture of Honesty” found at https://uga.edu/honesty. Lack of knowledge of the academic honesty policy is not a reasonable explanation for a violation. Questions related to course assignments and the academic honesty policy should be directed to the professor. All academic work submitted in this course must be your own unless you have
What do I do if I am notified that I have been exposed? Students who learn they have been directly exposed to COVID-19 but are not showing symptoms should self-quarantine for 14 days consistent with Department of Public Health (DPH) and Centers for Disease Control and Prevention (CDC) guidelines. Please correspond with your instructor via email, with a cc: to Student Care & Outreach at [email protected], to coordinate continuing your coursework while self-quarantined. If you develop symptoms, you should contact the University Health Center to make an appointment to be tested. You should continue to monitor your symptoms daily on DawgCheck.
How do I get a test? Students who are demonstrating symptoms of COVID-19 should call the University Health Center. UHC is offering testing by appointment for students; appointments may be booked by calling 706-542-1162.
UGA will also be recruiting asymptomatic students to participate in surveillance tests. Students living in residence halls, Greek housing and off-campus apartment complexes are encouraged to participate.
What do I do if I test positive? Any student with a positive COVID-19 test is required to report the test in DawgCheck and should self-isolate immediately. Students should not attend classes in-person until the isolation period is completed. Once you report the positive test through DawgCheck, UGA Student Care and Outreach will follow up with you.
COVID-19 Syllabus Face Coverings Statement (optional) - Effective July 15, 2020, the University of Georgia— along with all University System of Georgia (USG) institutions—requires all faculty, staff, students and visitors to wear an appropriate face covering while inside campus facilities/buildings where six feet social distancing may not always be possible. Face covering use is in addition to and is not a substitute for social distancing. Anyone not using a face covering when required will be asked to wear one or must leave the area. Reasonable accommodations may be made for those who are unable to wear a face covering for documented health reasons. Students seeking an accommodation related to face coverings should contact Disability Services at https://drc.uga.edu/.
COVID-19 Syllabus DawgCheck Statement (optional) - Please perform a quick symptom check each weekday on DawgCheck—on the UGA app or website—whether you feel sick or not. It will help health providers monitor the health situation on campus: https://dawgcheck.uga.edu/
In ClassGroup
REQUIRED
Optional butRecommended
Session
Date
Topic
In-ClassActivity
Reading
RA Quiz
Homework
eLecture
GuidedExample
Wed.Jan. 13
Course Overview Video
CrayolaPirates
Thur.Jan. 14
Introduction toAccounting
Target Corporation
READ SYLLABUS!!! 1 (pp. 2-21)Appendix 1A (pp. 23-26)
Practice RA
1.6, P1-6A, P1-7B
Tue. Jan. 19
Transaction Analysis
Name ThatCompany!!
2 (pp. 56-65)4 (pp. 186-195)
RA
2.1, P2-4A4.1, 4.2, P4-3A
Thu. Jan. 21
Double-EntryBookkeeping
Double Entry
Practice
2 (pp. 66-78)
RA
H
2.4, 2.5, P2-14A
Tue. Jan. 26
Accrual Accounting
Name ThatCompany!!
3 (pp. 118-139)
RA
H
3.1, 3.3, 3.4,P3-3A, P3-8A
Thur.Jan. 28
Accrual Accounting Group Project 1a Due
Earnings Management
and Fraud
H
Tue.Feb. 2
Statement of Cash Flows
Cash Flow
Practice
12 (pp. 570-588)Appendix 12A (pp. 590-592)
RA
12.2, 12.3, P12-1A, P12-5A
Thur.Feb. 4
Statement of Cash Flows Group Project 1b Due
Full
Statement ofCash Flows
H
Weekend
Watch SCF Review andExam Review online
Watch SCF Review andExam Review online
Exam 1
Mon.Feb. 8
7:00-9:00 PM (online)
Tue.Feb. 9
NO CLASS
Thur.Feb. 11
Revenue and ExpenseRecognition
Revenue Recognition
Practice
5 (pp. 230-243)Appendix 5A (pp. 246-249)
Tue. Feb. 16
Inventory
InventoryCost FlowPractice
6 (pp. 270-289), Appendix6A & 6B (pp. 291-297).Review Chap. 3 (120-131)
RA
H
5.A2, 5.A3, P5-
3A, P5-7A6.1, 6.2, 6.3,
P6-2A, P6-6A,
P6-7A
In ClassGroup
REQUIRED
Optional butRecommended
Session
Date
Topic
In-ClassActivity
Reading
RA Quiz
Homework
eLecture
GuidedExample
Thur.Apr. 8
NO CLASS
Tue. Apr. 13
Stockholders’ Equity
Debt or Equity and
Equity Transactions
11 (pp. 522-541)
RA
11.3, 11.4,11.5, 11.6, P11-1A,P11-2A, P11-6A, P11-8A
Thur.Apr. 15
Stockholders’ Equity
DuPont andTarget Co.
11 (pp. 542-544)
H
Exam 3
Mon.Apr. 19
7:00-9:00 PM (online)
Tue. Apr. 20
Financial StatementAnalysis
Target Company
13 (pp. 622-650)Appendix 13A (pp. 651-654)
Thur.Apr. 22
Financial StatementAnalysis
Wal-Mart vs.
Target Co.
13 (pp. 622-650)Appendix 13A (pp. 651-654)
RA
Tue. Apr. 27
NO CLASS –Project Workday
H
Thur.Apr. 29
Group Project 2 Due
OPTIONAL
FINAL
Fri. May 7
7:00-10:00 PM (online)
