Version: 3/20/2019 1
Administrative Master Syllabus
Course Information
Course Title
Principles of Financial Accounting
Course Prefix, Num. and Title
ACCT 2301 Principles of Financial Accounting
Division
Technology & Business
Department
Business Office Technology
Course Type
Academic General Education Course (from ACGM, but not WCJC Core)
Course Catalog Description
This course is an introduction to the fundamental concepts of financial accounting as
prescribed by U.S. generally accepted accounting principles (GAAP) as applied to
transactions and events that affect business organizations. Students will examine the
procedures and systems to accumulate, analyze, measure, and record financial
transactions. Students will use recorded financial information to prepare a balance
sheet, income statement, statement of cash flows, and statement of shareholders’
equity to communicate the business entity’s results of operations and financial
position to users of financial information who are external to the company. Students
will study the nature of assets, liabilities, and owners’ equity while learning to use
reported financial information for purposes of making decisions about the company.
Students will be exposed to International Financial Reporting Standards (IFRS).
Pre-Requisites
TSI satisfied in reading and math. Sophomore standing recommended
Co-Requisites
None
Semester Credit Hours
Total Semester Credit Hours (SCH): Lecture Hours:
Lab/Other Hours
3:3:0
Equated Pay Hours
3
Lab/Other Hours Breakdown: Lab Hours
0
Lab/Other Hours Breakdown: Clinical Hours
0
Lab/Other Hours Breakdown: Practicum Hours
0
Other Hours Breakdown
0
Approval Signatures
Title
Signature Date
Prepared by:
Department Head:
Division Chair:
Dean/VPI:
Approved by CIR:
10/28/19
Celine Siewert
Celine Siewert
David Kucera
Paul J. Quinn
Paul J. Quinn
10/28/19
10/28/19
12/09/19
09/26/19
click to sign
signature
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Version: 3/20/2019 2
Additional Course Information
Topical Outline: Each offering of this course must include the following topics (be sure to include information regarding lab,
practicum, and clinical or other non-lecture instruction).
I. Introduction to business and accounting
II. Accounting transactions
III. The adjusting process
IV. The closing cycle and financial statements
V. Accounting for a merchandising business
VI. Inventories
VII. Cash, Sarbanes Oxley, and internal controls
VIII. Receivables
IX. Fixed Assets
X. Current Liabilities
XI. Corporations
XII. Long-term liabilities
XIII. Statement of cash flows
XIV. Financial analysis
Course Learning Outcomes:
Learning Outcomes Upon successful completion of this course, students will:
Use basic accounting terminology and the assumptions, principles, and constraints of the accounting
environment.
Identify the difference between accrual and cash basis accounting.
Analyze and record business events in accordance with U.S. generally accepted accounting principles
(GAAP).
Prepare adjusting entries and close the general ledger.
Prepare financial statements in an appropriate U.S. GAAP format, including the following: income statement,
balance sheet, statement of cash flows, and statement of shareholders’ equity.
Analyze and interpret financial statements using financial analysis techniques.
Describe the conceptual differences between International Financial Reporting Standards and U.S. generally
accepted accounting principles.
Methods of Assessment:
Unit Tests
Homework assignments
Daily Work
Final exam
Required text(s), optional text(s) and/or materials to be supplied by the student:
Latest version of Financial and Managerial Accounting by Wild (McGraw Hill) with Connect.
Version: 3/20/2019 3
Suggested Course Maximum:
35
List any specific or physical requirements beyond a typical classroom required to teach the
course.
None
Course Requirements/Grading System: Describe any course specific requirements such as research papers or
reading assignments and the generalized grading format for the course.
60% Unit Tests
10 - 20% Homework assignments
10 - 20% Daily Work: pop tests, in-class and/or group activities, and class
preparation and participation
Online section includes chapter quizzes and discussions
10% Comprehensive Standardized Departmental Exit Exam (final exam)
If your score is Your grade is
90% up to 100% A
80% up to 89% B
70% up to 79% C
60% up to 69% D
59% or below F
Curriculum Checklist:
Administrative General Education Course (from ACGM, but not in WCJC Core)No additional documents
needed.
Administrative WCJC Core Course. Attach the Core Curriculum Review Forms
Critical Thinking
Communication
Empirical & Quantitative Skills
Teamwork
Social Responsibility
Personal Responsibility
WECM Course -If needed, revise the Program SCANS Matrix and Competencies Checklist