ACCOUNTING 252
Financial Accounting
Spring 2006
Instructor: Dr.
Scribner
Office:
Business Complex 316
Office Hours: 10:25-11:45 MTWTh
and by appointment
Phone:
(505) 646-5163
E-mail: escribne@nmsu.edu
|
Materials: |
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Purchases Required: |
Financial
Accounting (4th edition), Libby, Libby and Short |
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Scantron
form 886-E (Mini Essay Book), one each for Exams I & II Scnatron form 882-E (ordinary Scantron form), one for final exam These are
available in the BC Computer Lab and the NMSU Bookstore. |
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Other Resources: |
Free tutoring
and access to the answer book in the Accounting Tutorial Lab in Guthrie
305A. Hours to be
announced. |
Prerequisite: Acct 251
Course Objective:
To
introduce students to the basic concepts of financial accounting. Financial accounting statements are prepared mainly
for investors, creditors and other interested external users. The main emphasis
of this course will be on teaching the student to use accounting
information. The course will provide
enough knowledge of accounting to enable a person to use and understand the
limitations of financial statements to assess a company's financial strengths
and weaknesses.
At the end of the course you
should be able to
1.
state the purpose of the four required
financial statements
2.
create a balance sheet, income statement and
retained earnings statement .
3.
define assets, liabilities, stockholders’
equity, revenues and expenses
4.
state the accounting equation and illustrate
how changes affect it
5.
explain the difference between cash and accrual
bases of accounting
6.
prepare basic journal entries
7.
prepare adjusting entries
8.
perform basic financial statement analysis
Course Policies:
Attendance:
It is much easier and quicker to learn the course content if you attend
class. Tests will emphasize items
discussed in class and/or covered on quizzes and homework. You are responsible
for all material covered in class, handouts, and all announcements made in your
absence.
Calculators: Bring a simple, inexpensive
calculator to each exam. No PDAs, cell phones, or high-tech calculators with
capabilities that would give a student an unfair advantage over others. The only exception is that a financial
calculator such as the HP
10bII is not only acceptable but encouraged!
Students
with Disabilities:
If you have, or think you may have, a disability that interferes with your
performance as a student, you are encouraged to discuss this on a confidential
basis with the instructor, the Disabled Student Programs Coordinator at
646-1921, and/or the Americans with Disabilities Act Coordinator at
646-7795. If you have a condition that
may affect your ability to exit these premises in case of an emergency, you
should contact any of the above persons immediately.
Studying:
The nature of the material covered
requires that you study before each class session. Studying the material thoroughly by
rereading, taking notes, and working through computations is essential so that
your brain takes in the knowledge by multiple paths. It is important to relate illustrations to
the written material in your book. You
should remember that your grade will be based upon your ability to DO
accounting rather than on your ability to follow along as someone else does it. It’s a little like when you first learned to
ride a bicycle—looked easy but you had to do it yourself to learn it!
Grading:
Grades will
be assigned consistent with the policy in the undergraduate catalog based on
the following points.
Available
Points:
|
Regular
exams (2@100 points) |
200 |
|
Quizzes (5
@ 10 points) |
50 |
|
Comprehensive
final |
150 |
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Total points |
400 |
Course
Letter Grade:
A:
360-400 points, B: 320-359,
C: 280-319, D: 240-279, F:
0-239 points
A grade of “C”
(280 points) or better must be earned to qualify as satisfactory performance on
an S/U option for undergraduates.
Graduate students must earn a grade of “B” (320 points) or better to
qualify as satisfactory performance under an S/U option. There will be no extra credit projects available to
individual students, so work diligently on homework and exam prep.
Exams: There will be
two regular exams and a final. The exams
will be based upon text material, homework assignments and class discussion and
will consist of objective questions, problems, and short discussion
questions. The final will be
comprehensive. If you have an unpreventable absence for an exam, contact the
instructor to determine how to make up the work. For students who are participating in
university activities, a letter from the sponsoring department must be provided
a week prior to the activity.
Quizzes: Six or seven 10-point quizzes will be given
over the homework on a sporadic basis.
Your best five out of the six or seven quizzes given will count for
credit.
Key Dates:
|
01/27/06 |
Deadline for late
registration/course addition |
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01/27/06 |
Deadline for degree
application (http://www.nmsu.edu/~registra/)
(graduating seniors) without late fee |
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03/16/06 |
Last day to drop a course
with a "W" |
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03/16/06 |
Last day to notify
instructors of final exam schedule hardship (see inside back cover of NMSU
Class Schedule) |
ACCOUNTING 252
|
Day |
Date |
Chapter |
Learning
Objectives |
Homework |
Topic |
|
Th |
1/19 |
|
|
|
Introduction |
|
T |
1/24 |
Ch 1 |
1-4 |
E 1-1, E1-2, E1-3 |
Financial Statements |
|
Th |
1/26 |
Ch 1 |
|
E1-4, E1-5, E1-8, E1-9, E1-11 |
Financial Statements |
|
T |
1/31 |
Ch 2 |
1-7 |
E2-2, E2-3, E2-4, E2-8 |
Inv, Fin Decisions |
|
Th |
2/ 2 |
Ch 2 |
|
E2-11, E2-15, E2-19, P1-1 (Chapter 1, page 37), CP2-8
(Chapter 2, page 96) |
Inv, Fin Decisions |
|
T |
2/ 7 |
Ch 3 |
1-6 |
E3-2, E3-3, E3-6, E3-7 |
Operating Decisions |
|
Th |
2/ 9 |
Ch 3 |
|
E3-8, E3-12, E3-13 |
Operating Decisions |
|
T |
2/14 |
Ch 4 |
1-5 |
E4-1, E4-4, E4-5, E4-6 |
Adjustments |
|
Th |
2/16 |
Ch 4 |
|
E4-9, E4-10, P4-8 |
Adjustments |
|
T |
2/21 |
|
|
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EXAM I
(Ch. 1-4)—Bring
Scantron Mini Essay Book, two pencils, and a plain calculator. Get plenty of sleep the night before. |
|
Th |
2/23 |
Ch 5 |
1-4 |
E5- 2, E5-5, E5-7, E5-11 |
Communicating Acct Info |
|
T |
2/28 |
Ch 5 |
|
E5-13, E5-18, P5-2, CP5-7 |
Communicating Acct Info |
|
Th |
3/ 2 |
Ch 6 |
1-4, 5(aging only) |
E6-2, E6-6 |
Sales, Rec., Cash |
|
T |
3/ 7 |
Ch 6 |
|
E6-15, P5-7 (Chapter 5, page 269), P6-1 (Case A) |
Sales, Rec., Cash |
|
Th |
3/ 9 |
Ch 7 |
1-3, 6(ratio only) |
E7-1, E7-4 |
Inventory |
|
T |
3/14 |
Ch 7 |
|
E7-7, E7-11, P7-6 |
Inventory |
|
Th |
3/16 |
|
|
|
EXAM II
(Ch. 5-7)— Bring
Scantron Mini Essay Book, two pencils, and a plain calculator. Get plenty of sleep the night before. |
|
T |
3/28 |
Ch 8 |
1,2,3,4,5,6,7 In loaned textbook |
E8-1A(a,b), E8-4A(a),
E8-9A, E8-12A |
PP&E |
|
Th |
3/30 |
Ch 8 |
In loaned book from Prentice-Hall being class-tested |
E8-16A,E8-17A,E8-21A,FSA8-1 |
PP&E |
|
T |
4/ 4 |
Ch 9 |
1,2,4,7,8(PV
only),9 (Back to |
E9-2, E9-5, E9-13(c and d) |
Liabilities |
|
Th |
4/ 6 |
Ch 9 |
regular
textbook.) |
E9-15, E9-18 |
Liabilities |
|
T |
4/11 |
Ch 10 |
1,2,3(JE for par
only),5,6 |
M10-4, E10-4, E10-5 |
Bonds |
|
Th |
4/13 |
Ch 10 |
|
E10-8, E10-12 |
Bonds |
|
T |
4/18 |
Ch 10 |
Professionalism Issues Cash |
Tips on combating spring fever, from the NMSU Center for
Learning Assistance: Study on the
grass outside Zuhl Library; take a walk around campus before classes
start for the day; sit as far from the
windows as possible in your courses.
E6-23 |
|
|
Th |
4/20 |
Ch 11 |
1-4,6-7 |
E11-1, E11-2, E11-4 |
Owners’ Equity |
|
T |
4/25 |
Ch 11 |
|
E11-8, E11-9, E11-18 |
Owners’ Equity |
|
Th |
4/27 |
Ch 11 |
|
P11-1, CP11-6 |
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|
T |
5/ 2 |
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Review or catch up |
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|
Th |
5/ 4 |
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Review |
Some final exam study tips from the NMSU Center for
Learning Assistance: Stick with your regular daily routine as much as possible;
eat three meals a day for fuel; study over a two-week period for
maximum retention of ideas; review your most difficult courses with
study groups; and take short, frequent breaks. |
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|
W |
5/10 |
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COMPREHENSIVE
FINAL (Ch. 1 – 11) |
3:30-5:30
p.m. Bring Scantron Mini Essay Book, two pencils, and a plain
calculator. Get plenty of sleep the
night before. |
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