CCSU School of Business Fall 2016

Course Syllabus

AC 211 INTRODUCTION TO FINANCIAL ACCOUNTING

Class Class Time Classroom
Section 02 (CRN=12402) WF 9:25 10:40 AM RVAC 005
Section 05 (CRN=12405) WF 1:40 2:55 pm RVAC 005
Section 06 (CRN=12406) WF 3:05 4:20 PM RVAC 005

COURSE DESCRIPTION AND PREREQUISITES

MATH 101 (C- or higher)
Basic concepts and practice of accounting's role in providing information to external users to aid
their decision-making activities. Topics include the preparation of financial statements and
accounting for cash, receivables and payables, inventories, prepaid expenses and long-term
assets (Business majors cannot receive General Education credit for this course).

INSTRUCTOR
Juan Wang, associate professor of accounting, Ph.D., CPA
Office: Vance Academic Center (RVAC) Room 419
Office hours: WF 9:00-9:15, 10:45-11:25, 4:25-5:50, TH 3:00-3:20 or by appointment.
Contact: (1) Blackboard LEARN Message (preferred); (2) juanwang@ccsu.edu; (3)
Telephone 860.832.3294.

TUTOR
Refer to School of Business Tutoring Lab (http://www.ccsu.edu/business/tutoring.html)
for the tutoring location and schedule.

COURSE CONTENT AND OBJECTIVES: The learning goal of this class is mastery of
business knowledge in the functional area of financial accounting. Learning objectives for this
class are:

Understand how to analyze and record business transactions and prepare financial
statements.
Apply proper accounting standards and concepts to solve problems.
Apply business research skills.
Interpret financial statements.

ASSURANCE OF LEARNING
Knowledge and Skills Developed in this Class:
1. Technical knowledge: Learning the fundamental concepts and principles of financial

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 accounting.
2. Critical thinking and decision-making
3. Ability to solve complex financial accounting problems, including the ability to apply
proper financial accounting standards and concepts to solve complex problems.
4. Apply spreadsheet skills (e.g. computing financial ratios).

Course Competency
Students are graded on their understanding of the subject matter. Learning is accomplished in
stages. The lowest stage is the ability to cite facts by rote. The next stage is the ability to build
upon the facts and demonstrate their application. The highest stage of learning is the ability to
adapt and synthesize understanding to new and different problems.
To demonstrate students ability to apply the facts, students will be asked questions that require
them to analyze situations and use the information learned to solve problems. In-class practice,
homework, and exams are used to demonstrate ability to apply facts.

To demonstrate students ability to adapt and synthesize understanding, students may analyze
more complicated problems and draw analogy from their theoretical understanding to new and
real world problems. The financial reporting project is used to assess the learning progress in the
course.

TEXTBOOK (REQUIRED)1
Fundamentals of Financial Accounting, by Phillips, Libby, and Libby, 5th edition.
Minimum requirement: Ebook + CONNECT access (online software for homework).
Optional: Hard copy of the textbook

CONNECT (online software):

Registration: https://connect.mheducation.com/class/j-wang-02-05-06

To register, go to the registration web address above and click the "register now" button.

You MUST register CONNECT to complete the homework assignments online.

Homework grade is a big portion of your final grade. For help with registration, refer to
Need help registering at the bottom of the SAME web page.

Access to CONNECT is free with a new textbook; if you buy a used book, you must purchase
access separately online. To buy the access separately online, scroll down the registration page
above, click on how to buy Access online.

Help with CONNECT: http://mpss.mhhe.com/

COURSE HOMEPAGE: Blackboard LEARN http://ct-ccsu.blackboard.com ,

CCSUMerged12402.12405.12406.201710: Merged AC-211-02-05-06 Fall16. The course

1 Students need this textbook to do homework (homework grade is a big portion of your
final grade) and finish the assigned readings.

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syllabus, lecture notes, announcements, grades and all other information pertaining to the course
will be posted to the Blackboard LEARN. Also, check announcement frequently for updates.

ASSESSMENT

Table 1 Points breakdown

Components Points
CONNECT homework 70
Project 60
Attendance 50
Participation 40
Exams (including cumulative Final Exam) 300
Total 520

Table 2 Points% vs. Letter grade

Points% = Total/540

Points% Letter grade

93% <=Points% A
90<= Points%< 93% A-
87<= Points% < 90% B+
83 <= Points% < 87% B
80 <= Points% < 83% B-
77 <= Points% < 80% C+
73 <= Points% < 77% C
70 <= Points% < 73% C-
60 <= Points %< 70% D
Points%<60% F

1. CONNECT homework
List of homework assignments: Appendix 1: Lesson Plan
Points: The sum of TOP 7 homework assignments (70=7 x 10 points per
assignment). There are a total 12 homework assignments. This allows you NOT to
complete 5 (=12-7) homework assignments over the semester.
How: CONNECT- Homework
Due date: Appendix 1: Lesson Plan
Consisting of textbook problems: Yes.
Attempts allowed: 3
BEST ATTEMPT: Yes.
How to achieve high points? You will be given 3 attempts to do a good job of the
homework. After each attempt, solution would be provided by CONNECT. You can
use the PROVIDED solutions by CONNECT to correct your OWN solutions. If
you are willing to correct your OWN solutions via the 3 attempts before the due
date, you can always achieve full mark.
How to see my points? CONNECT- Report.

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 Submit homework through CONNECT? Yes. Homework submitted through emails or
in hard copy may not be accepted.

2. Project
The financial statement project requires students to analyze financial statements of a real-life
company. The directions are forthcoming.

3. Attendance
Attendance is MANDATORY. Regular attendance is essential for students to learn the
course materials and perform well in the exams.
You are allowed 4 absences (both excused and unexcused) over the semester to
accommodate any absences.
Each ADDITIONAL day of absence will result in 1 point deduction to your
attendance points.

4. Participation
For those students who participate in the class (i.e., show solutions, answer questions, etc.),
pass your FULL name and # of times of participation to the instructor after EACH class to
earn participation points.

Good examples of participation:

Demonstrating excellent preparation
Answering questions
Participating in any assigned activities in class
Helping your peers in learning
Be respectful of everyone

Bad examples of participation:

Chatting (chatting is completely prohibited). You should seek clarification from
your peers AFTER the class, NOT DURING the class.
Engage in personal activities that disrupt or distract the class.
Disruptive class behaviour (rude, intolerant, disrespectful behaviour)
Noise
Use cell phone
Other behaviour that is not professionally appropriate in accordance with the
university code of conduct.

Consequence of bad participation:

Deduction of participation points or final marks.
Risk being asked to leave the classroom.
May be subject to a report filed with the University Judicial Officer.

5. Exams

Refer to Appendix 1 Lesson Plan for the exams details and date.

Students who can not be present for an exam must notify the professor in advance of the

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scheduled exam time or immediately after the exam. No make-up exams will be granted
except for legitimate reasons supported by proper documentation. If make-up exams are
granted, it will be given at the professors discretion at a date announced later. Students who
are not granted make-up exams or who do not take make-up exams would receive a
grade of zero for that exam.

You must bring a hand held calculator to the examinations.

DROP AND WITHDRAW POLICY

Please be aware of the deadline to drop this course, so that it does not appear on your
transcript. Forms are available in the Registrars Office. After this date, withdrawal from this
course may only be granted if a student provides a written justification that indicates a
SEVERE EXTENUATING CIRCUMSTANCE such as a hospitalized illness, which can be
documented. This will require a series of signatures and paper work. Students may not drop
this course after the deadline simply because of poor performance.

3 drop deadlines:
Sep. 6 Last day to add/drop on WebCentral - Banner Web
Sep. 19 Last day to drop full semester course without W
Nov. 21 Last day to withdraw from full semester course without approval; W will be
entered.

RECORDS RETENTION
Copies of exams and projects will be kept for one semester. After that, materials will be
destroyed and only grades will be kept.

EMERGENCY CLOSING INFORMATION

Check the Cancellation/Delay information at www.ccsu.edu.

THE UNIVERSITY PLAGIARISM POLICY

All students are expected to demonstrate integrity in the completion of their coursework.
Academic integrity means doing one's own work and giving proper credit to the work and
ideas of others. All work submitted for grading (projects, examinations, etc.) must be your
own work. Sharing of answers, files etc. is not acceptable and is considered cheating. It is the
responsibility of each student to become familiar with what constitutes academic dishonesty
and plagiarism and to avoid all forms of cheating, dishonesty and plagiarism. Students who
engage in cheating, plagiarism and other forms of academic misconduct will face academic
and possibly disciplinary consequences. Academic sanctions can range from a zero for the
assignment and a ten (10) point reduction to your final grade to a failing grade for the
course. From a disciplinary standpoint, an Academic Misconduct Report may be filed
and a Faculty Hearing Board may impose sanctions such as probation, suspension or
expulsion.

For further information on academic misconduct and its consequences, please consult: (1)
Student Code of Conduct (http://www.ccsu.edu/StudentConduct), (2) the Academic
Misconduct Policy (http://www.ccsu.edu/AcademicIntegrity).

STUDENTS WITH SPECIAL NEEDS

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Please contact me privately to discuss your specific needs if you believe you need course
accommodations based on the impact of a disability, medical condition, or if you have
emergency medical information to share. I will need a copy of the accommodation letter from
Student Disability Services in order to arrange your class accommodations. Contact Student
Disability Services, Willard Hall, 101-04 if you are not already registered with them. Student
Disability Services maintains the confidential documentation of your disability and assists you
in coordinating reasonable accommodations with your faculty.

The accommodation letter should be received prior to a course accommodation need to allow
sufficient time to provide such needed accommodation.

RECOMMENDED LEARNING APPROACH

Study time should comprise at least 5 hours each week. Typically, we spend two days on
each chapter.

Accounting is one of the most DIFFICULT courses in college. Also, accounting requires lots
of practice. You are strongly encouraged NOT to take the course now if you are NOT
academically ready or can NOT spend lots of time on the course now.

The instructor has been trying best to simplify the lecturing. The role of the instructor is to
facilitate, provide clarification of critical concepts, NOT to cover every page in the lecture,
and not cover everything in the textbook. It is the students responsibility to finish the
assigned textbook reading and assigned work.

More specific learning methods:

Before class: 1) review the lecture notes; 2) try Connect homework assignments.
During-class: Focus. The more focus in the class, the less time you need after class for
reviewing the materials.
After-class: 1) MEMORIZE 2) complete Connect homework 3) do the assigned
textbook reading.

Special note:
Learn independently. You should train yourself to learn on your own by finishing the
assigned tasks before, during, and after the class.
Do NOT fall behind. It is hard to catch up.
Practice.

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Appendix 1 : Lesson Plan (subject to revision)

There is a homework assignment in CONNECT for EACH chapter (based on the

textbook problems at the end of each chapter).
The due date of ALL homework assignment is Dec 6, 2016 @ 11 pm.
Students are strongly encouraged to complete each chapters homework after we finish
that chapter (i.e., do NOT wait until the end of the semester to do the homework).
Week # Date Topic & textbook reading
#1 Aug. 31 Course Review
Sep. 2 Chapter 1 Business Decisions and Financial Accounting
#2 Sep.7
Sep. 9 Chapter 2 Balance Sheet
#3 Sep. 14
Sep. 16 Chapter 3 The Income Statement
#4 Sep. 21
Sep. 23 Chapter 4 Adjustments
#5 Sep. 28
Sep. 30 Review
#6 Oct. 5 Exam 1 (Ch 1, 2, 3,4), MCQ & hard-copy

Oct. 7 Chapter 13 Measuring and Evaluating Financial Performance

#7 Oct. 12
Oct. 14 Project briefing

#8 Oct. 19 Chapter 5 Internal Control and Cash

Oct. 21 Chapter 6 Merchandising operations
#9 Oct. 26 Chapter 7 Inventory
Oct. 28 Chapter 8 Receivables & Interests Revenue
#10 Nov. 2
Nov. 4 Review

Project due

#11 Nov. 9 Exam 2 (Ch 13, 5, 6, 7, 8), MCQ & hard-copy

Nov. 11 Chapter 9 Long-lived assets+ Final Grade Review (important)

#12 Nov. 16 Chapter 10 Liabilities

Nov. 18 Chapter 11 Shareholders Equity

#13 Nov. 23 No classes- Thanksgiving recess

Nov. 25
#14 Nov. 30 Chapter 12 Statement of Cash Flows
Dec. 2 Review

#15 Dec. 7 Exam 3 (Ch9, 10,11,12), MCQ & hard-copy

Cumulative Final exam

Sec 02 (9:25): Time= Dec. 16 (Fri), 8-10 am
Sec 05 (1:40): Time=Dec. 14 (Wed), 2-4 pm
Sec 06 (3:05): Time=Dec. 16 (Fri), 2-4 pm