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Summer 2023

COURSE NUMBER: ACCY 2001 – 10

COURSE TITLE: Intro Financial Accounting

COURSE TIME &  T/TH: 6:10–9:05pm  [Online-Zoom via Blackboard]

PLACE:

CRN: 52563

COURSE

DESCRIPTION &

GOALS: This course is an introduction to financial accounting.  Students will: (a) obtain a basic understanding of business transactions and the fundamentals of the accounting process, (b) learn how to read financial statements; (c) understand the principles underlying the basic financial statements, and (d) grasp how financial accounting fits into corporate governance and the broader business environment.

LEARNING

OBJECTIVES: Students should learn to:

· Understand the basic financial statements and their relationships

· Prepare journal entries to record specific transactions

· Interpret the effects of transactions on each of the financial statements

· Obtain company financial statements from online sources

· Read and extract information from real-world financial statements

PREREQUISITES: Basic Algebra

PROFESSOR: Professor Robin L. Tarpley

Department of Accountancy

Office: Funger 601A

Office Hours: Tuesdays 5pm-6pm and by appointment

Phone: (202) 994-8349

TA: Raymond Mbam

REQUIRED COURSE

MATERIALS: Libby, R., Patricia Libby and Frank Hodge. Financial Accounting 11th edition.  McGraw-Hill.

There is no required packet.  Any additional materials will be made available on Blackboard.  It is important to keep in mind that additional materials are merely intended to be a complement to the text and class discussion.  Some topics may not necessarily be included in a handout.  Students are responsible for all material outlined in this syllabus, including readings assigned in the text, the handouts, and  class discussion.  I encourage you to get to know other students in the class (minimum of two).  While I highly discourage missing any classes, I understand that an absence may be inevitable.  You will be solely responsible for obtaining from a fellow student, any announcements I make in your absence.  

CORPORATE

REPORTS: The primary financial reports that will be referenced during the semester are the annual reports included in the textbook.  We may refer to other financial statements throughout the course.  You will be asked to access annual reports online. 

ASSIGNMENTS

There are two types of assignments distributed in class, graded assignments, and non-graded assignments.  The graded, take-home assignments will be distributed at various intervals throughout the course.  As I stated earlier, it is your sole responsibility to stay abreast of all course activities, including assignments due.  Take-home assignments/quizzes will be due on the date specified in class or on Blackboard.  Assignments and quizzes will not be accepted after they are due.

Non-graded assignments are included at the end of the syllabus.  Though they are not collected, it is imperative that you do not underestimate the importance of these assignments.  As with most quantitative courses, this accounting course cannot be mastered without practice.  I strongly urge you to give all of these assignments considerable attention. YOU MAY FIND YOURSELVES IN DIRE STRAITS COME EXAM TIME IF YOU HAVE NOT DONE MOST OF THE HOMEWORK PROBLEMS I HAVE SUGGESTED.  A note of caution:  While some students may find it more efficient to work on these non-graded assignments in groups, working this way on all projects may not be the most effective approach for overall success in the course.  Keep in mind that the primary determinants of your mastery of this material are the exams, which are based on your independent application of the material.

It is important that students complete the scheduled reading and attempt the textbook problems before the specific class.  You should be prepared to discuss the non-graded problems and cases (and your solutions) in class.  We will go over some of these problems in class, and you are welcome (i.e., encouraged) to discuss any other problems with me during my office hours or by appointment.  Although solutions will be available to suggested text problems (on Blackboard), discipline yourselves to do the problems on your own before consulting the solutions.

CLASS PARTICIPATION & QUIZZES

A grade is assigned at the end of the semester for class participation.  I assume that all students understand the importance of attending each class.  Thus, formal attendance is not taken and mere class attendance does not constitute class participation.  Class participation involves engaging in meaningful discussion about the topic at hand.  This includes asking questions and volunteering to answer questions asked by me or of your fellow students.  This requires you to be adequately prepared for each lecture.  Grading is not based on right or wrong answers, but on thoughtful questions and comments.  Occasionally, an interesting question or comment may arise, which due to time constraints, may have to be deferred either to another class time or to my office hours.  This in no way minimizes the importance of your question or comment.

Quizzes may also be administered in class (announced or unannounced) throughout the semester. All quizzes are closed-book. Quizzes are embedded in the lectures and missed quizzes cannot be made up.

EXAMS AND GRADING

There will be a mid-term during class time and a final at the end of the session.  The current date scheduled for the midterm exam is tentative and subject to change pending the pace of the course.  By enrolling in this course, it is expected that you will be attending class for all of the scheduled class times and thus should have no conflicts for any potential exam date.  The final exam will be administered on the last day of class.  No make-up exams will be administered unless under exceptional circumstances at the instructor’s discretion and with documented support of an appropriate excuse.  

All exams will be open book.  This means that textbooks, calculators, and notes are allowed during the exams. There may also be (announced or unannounced) in-class and take-home cases and/or quizzes administered throughout the course.  Missed cases and/or quizzes cannot be made up.  

Your entire grade will be derived as follows:

Midterm Exam 30%

Assignments 10%

Class Participation  & Quizzes 25%

Final Exam 35%

Total 100%

No provisions exist for obtaining extra credit beyond what is outlined above.

ACADEMIC INTEGRITY

George Washington University has had an honor code that we take seriously in the Department of Accountancy.  Academic integrity is at the heart of GWSB, and we all are responsible for upholding the ideals of honor and integrity.  The Academic Integrity Council is responsible for resolving any suspected violations of the Honor Code, and I will report all suspected instances of academic dishonesty to the Council. The Code of Academic Integrity includes your responsibilities as a student and the full Code. Your full participation and observance of the Integrity Code is expected. To read the Integrity Code, visit (https://studentconduct.gwu.edu/). All academic work in this course is to be your own.

Notice of Copyright

All course materials, including the syllabus, lectures, presentations, recordings, quizzes, assessments, tests, exams, outlines, assignments, electronic files, and similar materials, for this course are protected by copyright and are the sole property of the course instructor. You may use these materials for your personal, non-commercial educational use. You may not, nor may you knowingly allow others, to reproduce or distribute any course materials publicly without the express written consent of the instructor. This includes providing materials to commercial course material suppliers such as CourseHero and other similar services. To do so is both a copyright violation and a violation of GW’s Integrity Code.

Class Recordings made by instructor

Meetings of this course might/will be recorded. Recordings will be available only to students registered for this class (as required by FERPA). This is intended to supplement the classroom experience. Students are expected to follow appropriate university policies and maintain the security of passwords used to access recorded lectures. Recordings may not be reproduced, shared with those not in the class, or uploaded to other online environments; violations may be subject to disciplinary action.  If the instructor or a GWU office plan any other uses for the recordings, beyond this class, students identifiable in the recordings will be notified to request consent prior to such use.  

Recording Class Sessions by students

Students are strictly prohibited from recording class sessions and other interactions with the instructor using any type of technology. Recordings and synchronous class sessions provided by the instructor are protected by both copyright and the Family Education Rights and Privacy Act (FERPA) and may not be shared or redistributed to anyone at any time now or in the future. To do so is both a violation of law and of GWU’s Integrity Code.

BLACKBOARD AND E-MAIL

Graded HW assignments are typically posted and collected on Blackboard.  Please be sure to familiarize yourself with the use of Blackboard for this course.  The GW Blackboard website has useful tools and contact information for questions or concerns regarding the use of Blackboard.  You will have sufficient time to work on your assignments and should avoid working on them at the last minute.  Blackboard may accept assignments after they are due.  However, all assignments submitted are time-stamped and assignments submitted after they are due will earn a grade of “0”.   Under no circumstances are assignments accepted at the instructor’s e-mail address.  Any assignments that are sent to the instructor’s e-mail address will not be opened or graded.

If you have questions about accounting problems, you should visit my office hours to discuss.  If you need to e-mail me about general course questions, you may e-mail me at the address above.  Be sure to put the following in the subject field of your e-mail:  FINACCT-SU23

OFFICE HOURS

You are more than welcome to visit my virtual office hours to discuss any and all aspects of the course.  I offer a few suggestions to make your visit most effective.  If you are visiting for clarification of a particular topic, please first make sure you have read the required reading and attempted any related problems.  You will find that this preparation will either clarify the concept for you, or it will make our office discussion much more effective.  Please make your questions as specific as possible.  For example, “I don’t understand Chapter 6” is not a specific question.  On the other hand, “I read Chapter 6 and I understand how bad debts expense is related to the allowance for bad debts.  However, can you explain how the allowance for bad debts is related to accounts receivable?” is a specific question.  This is only an example.  If you are visiting for assistance with assignments, keep in mind that my role is to provide guidance as opposed to providing answers.

IF YOU FIND YOURSELF UNCLEAR ON A SPECIFIC TOPIC, IT IS IMPORTANT THAT YOU ADDRESS IT IMMEDIATELY.  

If you follow all of the points outlined in this syllabus, you should find this course to be a challenging, yet rewarding experience.

SPECIAL NOTE TO ACCOUNTING STUDENTS PLANNING TO SIT FOR THE CPA EXAM:  As a reminder, please be sure to stay abreast of the exam requirements in the state where you plan to sit for the exam to ensure that you meet any necessary prerequisites.  The following website can act as a starting point for your inquiries:

https://www.aicpa.org/becomeacpa/licensure.html

*Office Hours are subject to change.

TENTATIVE COURSE SCHEDULE