Course Syllabus
FRANKLIN PIERCE UNIVERSITY
AC101 Principles of Accounting I
Undergraduate Term 2
Term: Term 1 - Fall 2022
Instructor Name: Dr. Robin Schofield
Office Location: Off Campus
Online at: SchofieldR@franklinpierce.edu
Course Schedule: This class runs Monday through Sunday 11:59 pm EST of each week, with the exception of week 8 which ends on Saturday.
Instructor: Robin Schofield, DBA has worked in finance and accounting for the past 20 years and taught at the college level for over 12 years. Specific areas include managerial accounting and finance, budgeting, personal financial planning, real estate finance, payroll, bookkeeping, and accounts payable.
Required Text:
Great news: your textbook for this class is available for free online!
Principles of Accounting Volume 1 Financial Accounting (Links to an external site.) from OpenStax, ISBN-10: 1-947172-67-0
You have several options to obtain this book:
- View online (Links to an external site.)
- Download a PDF (Links to an external site.)
- Purchase a printed copy directly from the textbook website.
You can use whichever formats you want. Web view is recommended -- the responsive design works seamlessly on any device.
Course Description & Objectives:
This is the study of accounting as an information system, examining why it is important and how it is used by investors, creditors, and others to make decisions. The course covers the accounting information system, including recording and reporting business transactions with a focus on the accounting cycle, the application of generally accepted accounting principles (GAAP), the financial statements, and statement analysis. Includes issues relating to asset, liability, and equity valuation, revenue and expense recognition, cash flow, internal control, and ethics.
Learning Outcomes: At the conclusion of this course, the student should be able to:
- Explain the content, form, and purpose of the basic financial statements (including footnotes) and the annual report, and how they satisfy the information needs of investors, creditors, and other users;
- Explain the nature of current assets and related issues, including the measurement and reporting of cash and cash equivalents, receivables and bad debts, and inventory and cost of goods sold;
- Explain the valuation and reporting of current liabilities, estimated liabilities, and other contingencies;
- Identify and illustrate issues relating to long-term asset acquisition, use, cost allocation, and disposal;
- Distinguish between capital and revenue expenditures;
- Identify and illustrate issues relating to long-term liabilities, including issuance, valuation, and retirement of debt;(including the time value of money)
- Identify and illustrate issues relating to stockholders’ equity, including issuance, repurchase of capital stock, and dividends;
- Explain the importance of operating, investing and financing activities reported in the Statement of Cash Flows;
- Interpret company activity, profitability, liquidity and solvency through selection and application of appropriate financial analysis tools; and
- Identify the ethical implications inherent in financial reporting and be able to apply strategies for addressing them.
Classroom Procedures:
Course Format: This course is being offered in online format. All eight modules will be online, which you are required to complete on your own for a period of time that may not exceed one week each.
If you have not taken an online course, please make sure you take the time to run through the student orientation course. This will greatly enhance your ability to concentrate on learning the course material rather than struggling with learning how to use the online system while taking the course. Even if you have taken an online course in the past, it is good to re-familiarize yourself with the workings of the online system.
Course Teaching and Learning Methodology:
The course includes Lecture notes & power point presentations, online group discussions, assignments, reading, and tests.
Student Responsibilities:
Each student is responsible for completing the tasks assigned to each unit, downloading the materials, and handing in their homework. Make sure you keep a backup of all your work. Even if you submit your homework on time, there is no guarantee that your work will reach its destination as expected. Your instructor may contact you in case there are any problems. As a word of advice, please, do not wait until the last moment to complete your work. If you do, you run the risk of experiencing unanticipated problems that might prevent you from completing your work on time. Whenever possible, consider alternative schedules. Please review the Start Here module for a list of student responsibilities, as well as instructor responsibilities.
Assignments: Assignments in the form of discussion questions or problems are to be typed and submitted to the appropriate files as a Word, Excel or pdf attachment. A completed written assignment should be approximately 250 to 500 words in length. A completed problem should show all work and calculations. Homework submitted after the deadline will be subject to the late assignment policy. The lowest graded homework assignment for the term will be automatically dropped from your grade.
Threaded Discussions: Students will be expected to participate in online Discussions each week. These discussions will be conducted in an asynchronous environment. In other words, the time of entries is determined by student schedules and syllabus deadlines.
Post first response to questions no later than Thursday at 11:59 pm of each week.
- Post response to at least 2 students per question no later than Sunday at 11:59 pm of each week. Students should read all posts and then select which ones to respond to.
- The instructor will review and grade your posts according to quality, content, context, thoughtfulness, thoroughness and use of critical thinking skills.
- Be sure to give credit to sources used.
- Use only credible sites. Avoid sites such as Wikipedia.
NO LATE DISCUSSIONS WILL BE ACCEPTED. POSTINGS MADE AFTER THE WEEK CLOSES WILL BE COUNTED AS A ZERO.
Participation: Students are expected to contribute actively in both the in-class and virtual environments. Participation is broadly defined to include verbal/written communication, as well as attendance in both environments. Online Discussion submissions will be counted as part of the participation grade for this course.
Exams and Quizzes: Exams and Quizzes are open book, open note. Students should show all of their work including calculations. This allows for students to gain partial credit on exam/quiz questions. There will be a total of 4 exams and 8 quizzes. No late exams or quizzes will be accepted. Should an emergency occur that will result in your not meeting an exam deadline, please contact the instructor immediately. The lowest quiz grade of the term will be automatically dropped.
LATE ASSIGNMENT POLICY
Late assignments (includes homework assignments, journal entries, and business plan submissions) will be accepted and graded according to the following guidelines:
| Days Late | Penalty |
|---|---|
| Up to 1 | 10% |
| Up to 2 | 20% |
| Up to 3 | 30% |
| Up to 4 | 40% |
| Up to 5 | 60% |
| Up to 6 | 80% |
| Up to 7 | 100% |
No credit will be provided for assignments submitted 7 or more days late. If extenuating circumstances arise, please contact the instructor immediately.
Discussion postings made after the week ends will not be accepted.
Deadline extensions will be reviewed on a case by case basis and must be requested by email PRIOR to the posted deadline for any assignment, discussion question, or quiz.
Exceptions/Extensions
If extenuating circumstances arise, please contact the instructor immediately. Deadline extensions will be reviewed on a case by case basis and must be requested by email PRIOR to the posted deadline for any assignment, discussion question, or quiz.
Assignment Submissions & Grading
Electronic submissions via Canvas or email attachment must be submitted as a .docx, .rtf, .xls, or .pdf.
Once work has been submitted, it is available for grading, even if the deadline has not passed. All graded work, submitted by deadline, will be graded within 72 hours of the submission deadline. Work submitted after the deadline will be graded based upon the instructor's schedule, but previous to the end of the term.
Redone/resubmitted work will not be accepted unless it is requested by the instructor.
Instructor Communication Policy
The instructor strives to answer all emails, phone calls or text messages within 24 hours. The best method of contact is through email. However, errors in receiving email do occur. If you have emailed the instructor and have not heard back within 24 hours, please follow up with a text.
Academic Integrity and Plagiarism:
You are responsible for knowing the “Academic Dishonesty” policy in the University catalog. Students are urged to consider that it is the toleration of violations of academic integrity, and not the reporting of it, which is dishonorable.. Please see FPU's full policy on Academic Honesty and Plagiarism.
All written assignments (not problems) must be submitted with Turn It In. Any assignment with a Turn It In report higher than 49% will receive an automatic grade of zero.
Any written assignment, including discussions, that does not use proper APA formatting - this includes both in text citations and a references section - will result in a grade of zero and be returned to the student. The instructor may choose to have the zero stand or require the student to resubmit the work.
It is your professor's goal to teach academic integrity and to teach you the necessary tools to ensure that you are not violating this policy, the first unit in the course will be based on APA formatting, plagiarism, and academic integrity. Academic integrity is taken very seriously by your professor and the school, and all instances of violation of academic integrity will be handled appropriately. Your professor reserves the right to run any of your work through a plagiarism checker, such as Turn It In, at their discretion.
Academic Policies and Student Resources
Click on the FPU Links tab in the Course Information section to access important academic policies and student resources.
Reference Style: APA formatting should be used for all citations and references. Information copied without reference citations will be considered plagiarism and be handled in accordance with Franklin Pierce University’s policy on Academic Dishonesty.
Assessment:
Exams 4 = 40%
Chapter Quizzes 8 = 15%
Discussions 8 = 20%
Homework/Assignments 8 = 25%
Technical Requirements:
For technical assistance with Canvas, please contact: The Canvas Hotline at 866-443-0656 available 24/7.
For trouble accessing your Franklin Pierce email account contact: The IT Helpdesk at 603-899-4214.
Which Browsers Does Canvas Support? (Links to an external site.)
To gain access to selected handouts, students will need to download the most recent version of Adobe Acrobat Reader. This software is available for free at: http://www.adobe.com (Links to an external site.).
Students’ computers must have audio and video capability (e.g., Windows Media Player). Whenever possible, audio and video links are included as study material. A microphone is also necessary to participate in Class Live meetings.
Students must have Microsoft Office. Instructions for downloading the Microsoft Office Suite (FOR FREE) from the Office 365 website.
Academic Policies and Student Resources
You can access Franklin Pierce Resources from the Help Button on the Gray/Blue navigation bar in Canvas.
Syllabus Changes:
The syllabus is accurate at the time of preparation. Dates may change at the discretion of the instructor. Prior notice will be provided whenever possible.
Course Summary:
| Date | Details | Due |
|---|---|---|