Troy University

TROY UNIVERSITY ACT 2292 Principles of Accounting II

COURSE SYLLABUS

Summer 2012 June 27 – July 25, 2012

NOTE: For course syllabus and schedule posted prior to the beginning of the term, the instructor reserves the right to make minor changes prior to or during the term. The instructor will notify students, via email or Blackboard announcement, when changes are made in the requirements and/or grading of the course.

OFFICE HOURS: T 9:30-10:15 am, 3:30-4:15 pm W 9:30-10:15 am, 3:30-4:15 pm

Or by appointment

I'm available by email at any time or by phone during office hours.

PREREQUISITES: ACT 2291

of 9 ACT2292 Dena Mitchell COURSE INFORMATION: Class Time: M/T/W/Th 10:30 – 12:50 p.m.

ENTRANCE COMPETENCIES: The student must possess the knowledge and skills of a high school graduate and the capability to perform on a college level. Knowledge of basic mathematics, such as multiplying and dividing fractions and using percentages, and simple algebra, is assumed, as is successful completion of ACT 2291 with a full understanding of all relevant material.

STUDENT EXPECTATION STATEMENT:  The student is expected to participate in the course via email exchanges (or other communication) with the instructor, by reading the assigned readings, submitting assignments using CengageNOW and Blackboard, and completing exams in a timely fashion.  The student is expected to attend class and participate in class discussions. Students should treat others with respect and conduct themselves with a professional demeanor while in the classroom.  Students are expected to check their emails daily and the announcements at least every 48 hours.

CATALOG DESCRIPTION: Modern financial accounting theory and practices applied to business entities. Students must complete this course with a grade of C or better.

PURPOSE: To enhance understanding of how basic financial transactions are recorded and analyzed. This class is a core requirement for all undergraduate business programs.

COURSE OBJECTIVES/STUDENT LEARNING OUTCOMES: The objective of this course is to provide students with an understanding of the basic assumptions, principles, and mechanics of financial accounting.

After completing this course, students should be able to:

1. Journalize and post transactions relating to capital stock, partnerships 2. Prepare unadjusted, adjusted, and post-closing trial balances and basic financial statements 3. Analyze and evaluate activities of businesses, including financial statement ratios 4. Account for assets and long term liabilities 5. Apply the basic assumptions and principles of financial and cost accounting

TEXTBOOK(S) AND/OR OTHER MATERIALS NEEDED:

Warren, C. S., Reeve, J. M., & Duchac, J. E. Accounting (23rd). Mason, OH: Thomson/South- Western/Cengage Learning **bundled with CengageNOW in the Troy University bookstore

of 9 ACT2292 Dena Mitchell Important Note: Homework for this course is required to be completed using CengageNOW. The acquisition of the correct textbook with access to CengageNOW is critical for a student’s success in this course. Merely getting the “right” version of the textbook without access to the CengageNOW tool will not be sufficient to participate in the course. CengageNOW is a very useful assessment tool for textbook assignments, quizzes, and examinations. The electronic resource is especially useful in assisting a student to successfully complete textbook assignments, while providing quick feedback. Links to an electronic version of key pages to the textbook’s examples enable the student to replicate a similar task. In addition, Excel “smart” worksheet setups inform the student when an error has been committed. The failure to acquire the proper course materials will significantly reduce a student’s ability to be successful in this course. Access to CengageNOW requires a special access code for each student that is bundled with the required textbook in the Troy bookstore. So if a student opts to acquire their textbook from another source, be sure that the textbook is bundled with CengageNOW or be prepared to purchase the code separately. No substitutes!

Students should have their text AND access to CengageNOW the first week of class. Not having your book will not be an acceptable excuse for late work. Students who add this course late should refer to the “Late Registration” section for further guidance.

Other materials: Pencil, paper, calculator. No translating devices or cell phones will be allowed during exams. Supplements: CengageNOW access; other materials as deemed appropriate

FORMATIVE ASSESSMENT ACT2292 students will be required to take a formative assessment as the comprehensive final exam for the course. The exam will relate to both Principles of Accounting I and II concepts.

INTERNET ACCESS . Students must have access to a working computer and access to the internet. Students can use the Troy University computer lab, a public library, etc., to ensure they have access. . “Not having a computer” or “computer crashes” are not acceptable excuses for late work. Have a backup plan in place in case you have computer problems.

TROY EMAIL: All Students Effective July 1, 2005, all students were required to obtain and use the TROY email address that is automatically assigned to them as TROY students. All official correspondence (including bills, statements, emails from instructors and grades, etc.) will be sent ONLY to the troy.edu (@troy.edu) address.  All students are responsible for ensuring that the correct email address is listed in Blackboard by the beginning of Week #1. Email is the only way the instructor can, at least initially, communicate with you. It is your responsibility to make sure a valid email address is provided. Failure on your part to do so can result in your missing important information that could affect your grade.

Your troy.edu email address is the same as your Web Express user ID following by @troy.edu. Students are responsible for the information that is sent to their TROY account. You can get to your email account by logging onto the course and clicking “email link.” You will be able to forward your Troy email to your earmy email. You must first access your Troy email account through the Troy email link found on the

of 9 ACT2292 Dena Mitchell website. After you log in to your Troy email account, click on “options” on the left hand side of the page. Then click on “forwarding.” This will enable you to set up the email address to forward your email to.

COURSE REQUIREMENTS:  Upon Enrollment: check email address; purchase and register CengageNOW  Attendance and participation in class discussions  Homework assignments using CengageNOW and manual preparation  Quizzes  Required examinations

STUDENT/FACULTY INTERACTION:  Interaction will take place via email, telephone, comments on written assignments, or office visits.  The student will participate in this course by following the guidelines of this syllabus and any additional information provided by the instructor or Troy University.  The student is expected to remain in regular contact with the instructor and class via email or other communication means, by submitting assignments and taking exams, all in a timely fashion.  TROY requires instructors to respond to students’ e-mail within 24 hours M-Th, and 48 hours Fri-Sun.  As instructor, I will communicate on the Blackboard.com Announcement page and/ or via e-mail.

ATTENDANCE POLICY: Attendance will be taken randomly at the beginning of class. Students that miss attendance, whether late or absent, will be marked absent. Students should present documentation for excused absences on the first class day following the absence (i.e. doctor’s excuse, Troy University excuse, etc.). Students are allowed three (3) unexcused absences. For each additional absence, participation points will be deducted.

For any quizzes, problems, exams, or other activities that are completed in class, you must be present to receive credit. Unannounced quizzes may be given on days when attendance is poor.

You may be expected to have attempted the assigned material before the material is covered in class. You should be prepared for all assigned problems during each class. If called upon, you are expected to be an active participant in this class. Routine absences from class will have a large, negative impact on your grade.

Students are expected to punctually attend all scheduled classes. People who arrive late disturb everyone else. The participation grade of students who habitually arrive to class late will suffer.

MAKE-UP WORK POLICY: Missing any part of this schedule may prevent completion of the course. If you foresee difficulty of any type (i.e., an illness, employment change, etc.) which may prevent completion of this course, notify the instructor as soon as possible. Failure to do so will result in failure for an assignment and/or failure of the course. See “Attendance” above. If you miss an exam due to an excused absence, I will allow a make-up exam with advance notice to me. If you cannot make it up before the next class meets, you may take a make-up exam during a scheduled time. For any exam not completed, the student will receive a zero (0) grade. If I have not heard from you by the deadline dates for assignments or exams, no make-up work will be allowed (unless extraordinary circumstances existed, such as hospitalization). Requests for extensions

of 9 ACT2292 Dena Mitchell must be made in advance and accompanied by appropriate written documentation if the excuse is acceptable to the instructor. "Computer problems" are not an acceptable excuse.

INCOMPLETE GRADE POLICY: Missing any part of the Course Schedule may prevent completion of the course. If circumstances will prevent the student from completing the course by the end of the term, the student should complete a request for an incomplete grade.

Note: A grade of incomplete or “INC” is not automatically assigned to students, but rather must be requested by the student by submitting a Petition for and Work to Remove an Incomplete Grade Form. Requests for an incomplete grade must be made on or before the date of the final assignment or test of the term. A grade of “INC” does not replace an “F” and will not be awarded for excessive absences. An “INC” will only be awarded to a student presenting a valid case for the inability to complete coursework by the conclusion of the term. It is ultimately the instructor’s decision to grant or deny a request for an incomplete grade, subject to the policy rules below.

Policy/Rules for granting an Incomplete (INC):  An incomplete cannot be issued without a request from the student.  To qualify for an incomplete, the student must: a. have completed over 50% of the course material and have a documented reason for requesting the incomplete. (50% means all assignments/exams up to and including the mid- term point, test, and/or assignments.) b. be passing the course at the time of their request. If both of the above criteria are not met an incomplete cannot be granted.  An INC is not a substitute for an F. If a student has earned an “F” by not submitting all the work or by receiving an overall F average, then the F stands.

METHOD OF INSTRUCTION: The chapter material will be discussed in class. The student is responsible for all instructions and assignments given in class, as well as for the supporting textbook content. The student should read the textbook material before the lecture covering that material. This leads to a better understanding of the lecture, as well as the opportunity to ask questions about material(s) in the text that were unclear or that the student did not understand.

Exercises and problems will be assigned for each chapter. These assignments are made for the sole purpose of allowing the student to see if they understand the material. These assignments will be turned in for grading using CengageNOW; in addition, homework problems will be completed manually and turned in via the Blackboard assignment feature. Students who do not work the homework problems perform very poorly on the tests. Therefore, both methods of homework completion are required.

The labs in Bibb Graves are available for student use and tutors are available.

BE AWARE OF THE FOLLOWING:

of 9 ACT2292 Dena Mitchell Poor preparation for business meetings may create the impression that an individual lacks the necessary attributes to be effective in performing their business related tasks. On time arrival for class is important so as to not disturb fellow classmates. Furthermore, talking to one’s neighbor during inappropriate times, speaking out without permission from the professor, leaving the room while class is in session, ringing cell phones, and text messaging also disturb fellow classmates. Every time someone causes a disturbance, the group loses their focus which results in a loss of effectiveness and efficiency for all. The development of good behavior is a prerequisite to be successful in business.

ASSIGNMENT OF GRADES: All grades will be posted and assigned according to the following or similar scale:

A 90 – 100% B 80 – 89% C 70 – 79% D 60 – 69% F 59% and below

Postings: Grades will be posted in the Blackboard grade book during the course and final grades will be posted in Trojan WebExpress.

A grade will be assigned to you at the end of the course based on your performance on tests, your class attendance, and participation. In borderline cases, subjective evaluation by the professor will determine if a higher grade is appropriate.

Your class experience can be enhanced, by demonstrating both a professional demeanor and strong work ethic that indicates a strong desire to learn throughout the whole semester. A professional demeanor is demonstrated through excellent attendance, arriving a few minutes early, opening the textbook to where the last class ended, taking out class notes / any completed homework, raising your hand to regularly participate in the class discussions, and being respectful. A strong work ethic is demonstrated through a sincere attempt to complete all homework assignments prior to class and sharing your solutions during in class coverage of such assignments. If you are not able to solve a problem, then you should write down your question that would have helped you to do so.

SUBMITTING ASSIGNMENTS:  All homework will be submitted using both CengageNOW and the Blackboard assignment system. Homework is due at class time on the day homework is to be reviewed in class for each chapter. Partial credit will be given for homework turned in after the due date.  Quizzes will be administered during class at the instructor’s discretion.

EXAMINATION SCHEDULE & INSTRUCTIONS:  The exams may be any combination of multiple choice questions, problems, or subjective short answer questions.  The student may need a #2 pencil, an eraser, a green Scantron answer sheet, and a calculator. Credit will be given for Scantron errors when erasures are identified to the professor immediately upon completion of the test.  Programmable calculators (those that store text) and translators are not permitted on the exams. Calculators without text storage capability are allowed. Cell phones and smart phones may not be substituted for a calculator.

of 9 ACT2292 Dena Mitchell  For test purposes, you are responsible for reading all the material in each chapter (unless otherwise stated). I will emphasize the material that I feel is most important or needs additional explanation. The lectures are not a substitute for reading the chapters.

Mission Relevance: ACT2292’s course learning objectives will be implemented in accordance with the mission of Troy University, the Sorrell College of Business, and School of Accountancy as stated in the Undergraduate Catalog 2009-2010. The instructor will strive to offer a high-quality course to assist in the development of successful business leaders. The instructor’s highest priorities are the pursuit of teaching excellence, accessibility to students, and a sincere interest in each student’s long-term success. Students are expected to have a strong desire to learn and solid work ethic.

School of Accountancy Mission Statement: The mission of the School of Accountancy is to advance the accounting profession by providing quality accounting education to both undergraduate and graduate students, publishing quality research and providing service to the professional community. We prepare students for successful careers with increasing professional and managerial responsibility in public accounting as well as government and industry and prepare undergraduate students for admission to graduate programs in accounting and business.

SCOB Mission Statement: Through operations that span the State of Alabama, the United States, and the world, Sorrell College of Business equips our students with the knowledge, skills, abilities and competencies to become organizational and community leaders who make a difference in the global village and global economy. Through this endeavor, we serve students, employers, faculty, and Troy University at large as well as the local and global communities.

SCOB Vision Statement: Sorrell College of Business will be the first choice for higher business education students in their quest to succeed in a dynamic and global economy. Sorrell College of Business will create the model for 21st century business education and community service.

Troy University Mission Statement: Troy University is a public institution comprised of a network of campuses throughout Alabama and worldwide. International in scope, Troy University provides a variety of educational programs at the undergraduate and graduate levels for a diverse student body in traditional, nontraditional and emerging electronic formats. Academic programs are supported by a variety of student services which promote the welfare of the individual student. Troy University's dedicated faculty and staff promote discovery and exploration of knowledge and its application to life-long success through effective teaching, service, creative partnerships, scholarship and research.

COURSE SCHEDULE:

Chapter 12 Accounting for Partnerships and Limited Liability Companies Chapter 13 Corporations: Organization, Stock Transactions, and Dividends Chapter 14 Long Term Liabilities: Bonds and Notes Chapter 15 Investments and Fair Value Accounting Chapter 16 Statement of Cashflows Chapter 17 Financial Statement Analysis Chapter 18 Managerial Accounting Concepts and Principles Chapter 19 Job Order Costing Chapter 20 Process Cost Systems Chapter 21 Cost Behavior and Cost Volume Profit Analysis Chapter 22 Budgeting

of 9 ACT2292 Dena Mitchell Additional chapters as time permits

Blackboard Online Support Center for Troy University provides Customer Care Technicians who are available to support you 24 hours a day/7 days a week. If you are experiencing technical difficulties with your coursework or with features in Blackboard that are generating errors, please click the link below. http://www.troy.edu/etroy/blackboard.htm

NON-HARASSMENT, HOSTILE WORK/CLASS ENVIRONMENT: Troy University expects students to treat fellow students, their instructors, other TROY faculty, and staff as adults and with respect. No form of “hostile environment” or “harassment” will be tolerated by any student or employee.

CELL PHONES AND OTHER ELECTRONIC DEVICES: Use of any electronic devise by students in the instructional environment is prohibited unless explicitly approved on a case-by-case basis by the instructor of record or by the Office of Disability Services in collaboration with the instructor. Cellular phones, pagers, and other communication devices may be used for emergencies only. Sending or receiving non-emergency messages is forbidden by the University. Particularly, use of a communication device to violate the Troy University “Standards of Conduct” will result in appropriate disciplinary action (See the Oracle.) In order to receive emergency messages from the University or family members, the call receipt indicator on devices must be in the vibration mode or other unobtrusive mode of indication. Students receiving calls that they believe to be emergency calls must answer quietly without disturbing the teaching environment. If the call is an emergency, they must move unobtrusively and quietly from the instructional area and notify the instructor as soon as reasonably possible. Students who are expecting an emergency call should inform the instructor before the start of the instructional period.

**Cell phones should be silenced during class. Texting is strictly prohibited during class. If I see you, I will stop class to ask you to stop!!

AMERICANS WITH DISABILITY ACT (ADA): Troy University supports Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, which insure that postsecondary students with disabilities have equal access to all academic programs, physical access to all buildings, facilities and events, and are not discriminated against on the basis of disability. Eligible students, with appropriate documentation, will be provided equal opportunity to demonstrate their academic skills and potential through the provision of academic adaptations and reasonable accommodations. Further information, including appropriate contact information, can be found at the link for Troy University’s Office of Human Resources at http://www.troy.edu/humanresources/ADAPolicy2003.htm

Any student whose disabilities fall within ADA guidelines must inform me at the beginning of the term of any specials needs or equipment necessary to accomplish the requirements for this course. Students must also provide written proof of their disability to the instructor. Students who have or may be dealing with a disability or learning difficulty should speak with the instructor and contact the Office of Adaptive Needs Program at 670-3221. Various accommodations are available through the Adaptive Needs Program. The faculty of the College of Business makes every effort to accommodate unique and special needs of students with respect to speech, hearing, vision, seating or other possible disabling conditions. Please notify the instructor as soon as possible of requested accommodations or ways to help.

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HONESTY AND PLAGIARISM: The awarding of a university degree attests that an individual has demonstrated mastery of a significant body of knowledge and skills of substantive value to society. Any type of dishonesty in securing those credentials therefore invites serious sanctions, up to and including suspension and expulsion (see Standard of Conduct in each TROY Catalog). Examples of dishonesty include actual or attempted cheating, plagiarism*, or knowingly furnishing false information to any university employee.

*Plagiarism is defined as submitting anything for credit in one course that has already been submitted for credit in another course, or copying any part of someone else’s intellectual work – their ideas and/or words – published or unpublished, including that of other students, and portraying it as one’s own. Proper quoting, using strict APA formatting, is required, as described by the instructor. All students are required to read the material presented at: http://uclibrary.troy.edu/pdf/plagiarism_student_guide.pdf

 Students must properly cite any quoted material. No term paper, business plan, term project, case analysis, or assignment may have more than 20% of its content quoted from another source. Students who need assistance in learning to paraphrase should ask the instructor for guidance and consult the links at the Troy Writing Center.

 This university employs plagiarism-detection software, through which all written student assignments are processed for comparison with material published in traditional sources (books, journals, magazines), on the internet (to include essays for sale), and papers turned in by students in the same and other classes in this and all previous terms. The penalty for plagiarism may range from zero credit on the assignment, to a failure in the course, to expulsion from the university with appropriate notation in the student’s permanent file.

LIBRARY SUPPORT: The Libraries of Troy University provide access to materials and services that support the academic programs. The address of the Library Web site is http://uclibrary.troy.edu/ This site provides access to the resources of all Campus and Regional Libraries, as well as to resources such as the Library’s Catalog and Databases. Additionally, the Library can also be accessed by choosing the “Library” link from the University’s home page, www.troy.edu, or through the eLibrary tab within Blackboard.

FACULTY EVALUATION: At the end of each term, students will be notified of the requirement to fill out a course evaluation form. These evaluations are completely anonymous and are on-line.

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