ACCOUNTING PRINCIPLES I

ACCT2301-702 On-Line Spring Semester Course

Department: Business Technology
Professor: Bill Gay
Office: N8.175
Phone: 281-998-6150 Ext. 7312
E-mail: william.gay@sjcd.edu
Conference Hours: On-line: Sunday 7-10 PM On campus: Monday 5-6 PM, Tuesday 3:30-5:30 PM.
Other hours available by appointment.
Course 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 entitys 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).
Prerequisite: Reading level 7, Math Level 9 (3:3-1.5)
Required Textbook:
Horngren, Charles T., Tracie Nobles, Brenda Mattison and Ella Mae Matsumura;
Financial and Managerial Accounting, 4th ed.
Formats available:
Regular textbook (any textbook dealer)
Loose leaf textbook packaged with MyAccountingLab (North bookstore) ISBN
9780133451238

Loose leaf edition (publishers website) ISBN 9780133251296

MyAccountingLab (with ebook) (publishers website or North Bookstore)
ISBN 9780133252965

MyAccounting Lab Link: gay09437

NOTE: You must have MyAccountingLab to complete this on-line course!

Student Learning Outcomes:
Upon completion of this course, students will have demonstrated through tests and homework, computer
application problems, projects, and/or quizzes, the ability to:
Upon successful completion of this course, the student will be able to:
A. Use basic accounting terminology and the assumptions, principles, and constraints of the accounting
environment.
B. Identify the difference between accrual and cash basis accounting.
C. Analyze and record business events in accordance with U.S. generally accepted accounting principles
(GAAP).
D. Prepare adjusting entries and close the general ledger.
E. 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.
F. Analyze and interpret financial statements using financial analysis techniques.

G. Describe the conceptual differences between International Financial Reporting Standards and U.S.
generally accepted accounting principles.
GRADING CRITERIA:
Exams (4 each) & term paper
MyAccountingLab & Class Participation

18% each
10%

A=90-100
B=80-89
C=70-79
D=60-69
F=Below 60

MAKE-UP POLICY:
A missed examination will be recorded as a zero. Make-up examinations will not be given except in
extremely unusual circumstances. Makeup of missed exams will be upon request to, and at the discretion
of the instructor. If you know in advance that you will be missing a test date, you may make arrangements
to take the exam early. San Jacinto College prohibits the instructor from giving make-ups for final exams
except in extreme circumstances.
ATTENDANCE:
Students enrolled in Distance Learning (DL) courses are required to regularly complete assignments and
activities in the on-line course and to participate in any required discussion boards or blogs. At the point
the student is absent for 7 contact hours of the course for unexcused reasons or reasons unknown to the
instructor, the instructor may withdraw the student. Warning: it is not possible to learn accounting
without completing assignments regularly and doing the exams (including the term paper.)
WITHDRAWAL POLICY:
Faculty will not drop students. Students starting college for the first time in fall 2007 or after may only
receive six grades of W ( grade received from a course dropped after the census date) from all Texas public
colleges and universities attended. Grades of W in developmental courses or courses taken while in high
school will not count in the six grades of W. After six grades of W are received, students must receive
grades of A, B, C, D, or F in all courses. There are other exemptions from the six-drop limit and students
should consult with a Counselor/Educational Planner before they drop courses to determine these
exemptions. Students receiving financial aid must get in touch with the Financial Aid Office before
withdrawing from a course.
It is the responsibility of the student to officially withdraw from a course. The last day to withdraw from
this course is November 12, 2014.
REPEAT RULE:
If a course is subject to the repeat rule, a student may take the course two times and pay the regular tuition.
The third time, the student will be charged an additional $60.00 of tuition per credit hour for the third or
subsequent time taken.
HONESTY STATEMENT:
San Jacinto College students should exhibit honesty, integrity, and high standards in their academic work.
Members of the college community benefit from an open and honest educational environment. Upholding
academic integrity is the responsibility of everyone.
EMERGENCY RESPONSE:
For immediate response to an emergency on campus San Jacinto College Police Department should be
notified immediately by dialing extension 5555 or 281-476-9128.

EMERGENCY NOTIFICATION/COLLEGE CLOSURES:

In the event the College needs to be closed for any situation, such as inclement weather, students and
employees should check the College website at www.sanjac.edu or call (888) 845-5288 for the most
immediate and current information. The College will also engage SJC AlertMe, which sends a voicemail,
email, and/or text message to each student/employee who opts in. Students are responsible for any charges
from their phone service provider associated with receiving voice or text messages. Official
communications with students is through their San Jacinto College email account, and any emergency
notifications will always be sent to students' San Jacinto College email addresses. The College will also
contact local media but the most reliable, accurate and current information will also be found on the
College website, via SJC AlertMe, or at the toll-free number listed above.
USE OF STUDENT EMAIL:
The College provides a free, official email account to all students to ensure efficient and secure
communications between you and the College. Students will be required to use their college-issued
email address to communicate with their instructors and all other college personnel, so it is easy to
distinguish a student's email from spam. The College expects that students will utilize their college email
addresses to send and receive communications with college personnel and will read email on a frequent and
consistent basis. To activate your student email go to http://www.sanjac.edu/email and follow the
instructions provided on the site.
DISABILITY STATEMENT:
If a student has a disability that may affect his or her ability to learn the material in this course, the student
should get in touch with the Disabilities Services Counselor on the campus located in the Educational
Planning and Counseling Centers:
Central Campus - 281-476-1888;
North Campus - 281-998-6150 Ext. 2317;
South Campus - 281-922-3444
GRADUATION INFORMATION:
Upon completion of degree and/or certificate requirements, the student must apply for graduation for the
credential to be awarded. There is no fee to apply for graduation. The student completes a Degree
Evaluation online using SOS. Confirm that all requirements for the degree or certificate are completed or
in progress. Print a copy and bring it to the Educational Planning and Counseling office or Enrollment
Services office. Submit a Request for Final Graduation Verification with the Degree Evaluation to the
campus Enrollment Services office by March 6, 2015.
The last day to apply for May graduation is March 6, 2015. Applications should be made on-line using
your SOS account.

CALENDAR/HOMEWORK ASSIGNMENTS
Week

Due
Date*

Chapter

Class Assignments (S or E)

Graded Homework

Jan 25

1-13, 16,19,20,21,27,28

P1 40A, 42A

Feb 1

2-12,16,17,19,23-25, PS2-44

P2 29A, 32A

Feb 8

Feb 15 4
Feb 19

3-12, 14,18,19-22 ,24,25, PS3-46 P3 33A, 35A

Selections for TERM PAPER are due!!
4-11, 16,19,20,21,23,PS4-40
P4 27A, 28A, Comp Prob 1-4 (1)
College Community Day
No classes on campus

Feb 22

Exam 1 (Chapters 1-4)

Mar 1

5-12, 14,15,17,19,21,23,PS5-46A P5 31A, 33A,Comp Prob 1-5

Mar 8

6-14,16-19,23,25, PS6-47A

P6 32A, 36A, 37A

Mar 15 7

7-14,17,18,19,21A,PS7-34

P7 22A, 23A, 25A

Mar 16-22

SPRING BREAK!!

Mar 23

Exam 2 (Chapters 5-7)

All homework for 5-7 due!

10

Mar 29 8

8-12,14,15,17-23,25,PS8-42

P8 28A, 32A

11

Apr 5

9-12,17,19,20,21,23,24

P9 31A, 35A

12

Apr 12 10

10-14,16

P10 17A, 19A

13

Apr 19

Exam 3 (Chapters 8-10)

All homework for 8-10 due!

14

Apr 26 11

Paper due! 11-13,16-18

P11 26A,27A

15

May 3

12-12,16-18,21-23

P12 30A, 32A

16

May 10 13

Final Exam (Chapters 11-13)

13-14, 19,24

All homework for 11-13 due!

P13 37A, 38A, Continuing Prob

12

All homework for 1-4 due!

*Unless changed by written notification (BlackBoard & Email), all assignments will be due at
midnight on the date listed. Any homework submitted after that date must be in by the test date,
and will be subject to a late penalty of up to 50%.
Note: The Continuing Problem is available throughout the semester, and you should do the
portions that are associated with the chapters for which you will take exams, as you go through those
chapters. (I.e. Do chapters 1 4 before the Chapter 4 graded homework is due!)

TERM PAPER
Your paper is to provide a brief comparison of two SEC-listed, publically traded companies of your
choosing, on a first come, first served basis. It should be about 2 pages in length, excluding charts,
exhibits, etc. At a minimum it must include:
A copy of the latest comparative financial statements (Income Statement, Balance Sheet,
Statement of Shareholders Equity, and Statement of Cash Flow) from the SEC Form 10K annual
report downloaded into an Excel file for each company.
List of stock prices for 3 months, taken at least weekly
Brief description of the companies products and/or services
YOUR calculations of ratio analysis including at least:
Current ratio = Current Assets / Current Liabilities
Quick ratio = Cash+Cash Equivalents+Net Accts Rec / Current Liabilities
Return on sales = Net Income / Net Sales
Debt ratio = Total Liabilities / Total Assets
Earnings per share = (Net Income Pfd Dividends) / Wtd Avg # of Com Shrs outstanding
(You must show your work on the ratios. Do not use ratios shown by the company in its
financial statements. You may attach a handwritten copy of your calculations if you have trouble
typing numbers.)
Explanation of ratios (good/bad, what they mean for this company, which companys ratio is
better). For example, The current ratio for this company is 1.5, which means Company A can pay its bills
when they come due. Company Bs current ratio .9, which means it may not be able to pay its bills when
they come due. Company A is doing better. You can use Industry Norms and Key Business Ratios (on
reserve in the library) for help with this.
Which company would you invest in if you had the money? Why?
Your written analysis should be typed, single-spaced, and in good report form (well-structured paragraphs,
complete sentences, proper citation of sources (quotations, footnotes, etc.), proper spelling, punctuation,
and grammar. While this class is not considered an English composition class, proper presentation is
imperative for all business reports, and has a direct bearing on your success or failure in the professional
world. Therefore, a portion of the grade on this project will be based upon your ability to make a
professional submission! (Note: Length does not necessarily translate to Quality!) DO YOUR OWN
WORK, AND BE PROUD OF WHAT YOU DO!
Late papers will not be accepted, but you can turn them in early. The paper will count the same as a test
grade.
Any additional elements, such as charts, graphs, industry comparisons, additional information on the
company, etc, will give you extra points. It is not difficult to make a 100 on this project. The project is
due at midnight on April 26, 2015. Anything received after that day will receive an automatic ten point
deduction per day.
IMPORTANT: You must use TURNITIN in BlackBoard to submit your paper. I will not accept emails
for this assignment. Also, TURNITIN will accept submission of only one (1) file, so you will need to cut
& paste calculations, charts, financial statements, etc. into one MSWord (or other) document for the

submission. DO NOT INCLUDE THE ENTIRE FORM 10K REPORT in your submission. You only
need to include the financial statements mentioned above in your paper.
BLACKBOARD INSTRUCTIONS:
Go to sanjacinto.blackboard.com (do not use www). You can also access Blackboard by clicking on the
Blackboard icon on the www.sjcd.edu website.
Follow the directions, using your student G number for your login name and your birthday (if youve never
used SOS or Blackboard before) or other password.
Once you are allowed into Blackboard, you should see this class listed. Click on the class to enter the site.
Look under Course Information for your syllabus, Course Content, and Course Documents for other study
aids. Your grades will also be posted on Blackboard.