Course Syllabus

INSTRUCTOR AND COURSE INFORMATION

Instructor: Jay Thibodeaux, CPA

E-Mail: jay.thibodeaux@gmail.com

Office Hours: By Appointment

Course Dates and Times: Tuesday; July 16th, 2024 to Friday; August 9th, 2024

Monday to Friday: 8:30 am - 10:30 am CST

Course Location: CPE 2.220

Credits: This is a non-credit course.  

Computer hardware and software requirements: This course requires that you have high-speed internet access.  You must be able to view audio and video files in flash.  Your computer will need to have a sound-card or speakers.  You must have access to Excel and Word processing (save documents as doc, docx, pdf, xls, xlsx, or ftf files).  

If you do not have a dependable computer or access to Microsoft Office, you can work at certain University of Texas (UT) facilities.  

Communication: Many communications in this class will be handled through email.  

Prerequisites: Basic computer skills utilizing internet, word processing, spreadsheet (Excel), and presentation (Powerpoint) software are recommended for all accounting courses.  

CLASSROOM AND STUDENT POLICIES

Academic Freedom Statement: It is expected that faculty and students will respect the views of others when expressed in classroom discussions.  

 

Student Discipline: see your handbooks provided by UT.  

 

Students with Disabilities Statement: UT offers support services for students with documented physical or psychological disabilities.  Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities.   

 

Scholastic Dishonesty: Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on exams or quizzes, plagiarizing, unauthorized collaboration with another in preparing outside work.  Academic work submitted by students shall be the result of their thought, research or self-expression.  Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper, projects, either individual or group; classroom presentations, and homework.  Electronic devices may not be used for exams unless specifically authorized by the instructor.  Penalties for scholastic dishonesty will depend upon the nature of the violation and may range from lowering a grade on one assignment to an F in the course and/or expulsion from this institution.  

See the Student Handbook.  

 

Plagiarism: Plagiarism is taken very seriously in this class. Plagiarism is considered to be copying of another’s work including another students, internet, or research source. Any phrase, sentence, paragraph, etc. that is take from another’s work must be Page 3 of 4 cited appropriately. All students are required to review the plagiarism module that can be found in the course for further instructions. All assignments submitted in this course are run through a comprehensive plagiarism checker. 

 

INSTRUCTIONAL POLICIES AND SUPPORT 

 

Homework, Quizzes, and/or Exams may be assigned; however, the majority of the assignments will be in-class activities. 

 

Where to go if you have questions: If you have a question that you would like to discuss with me, my preferred contact method is email. 

 

If you contact me via email, you will receive a reply from me within 48 hours (during the weekdays) and by Tuesday at 5:00 pm (for questions posed on the weekend). I usually do not answer email questions over the weekend. 

 

Where to go if you have complaints: UT Texas Global Office

Grade Determination

Your final letter grade will be determined as follows (20% Final Quiz, 30% Group Presentation, and 50% Attendance/Participation).  A weighted score of the following will determined your letter grade:

90%-100% - A

80%-89% - B

70%-79% - C

60%-69% - D

<60% - F

Course Description:

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 of business transactions with a focus on the accounting cycle, the application of generally accepted accounting principles, the financial statements, and statement analysis. Includes issues relating to asset, liability, and equity valuation, revenue and expense recognition, cash flow, internal controls, and ethics.

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Student Learning Outcomes:

At the conclusion of this course, the student should be able to:

1. Explain the nature and purpose of generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS). Explain and apply the components of the conceptual framework for financial accounting and reporting, including the qualitative characteristics of accounting information, the assumptions underlying accounting, the basic principles of financial accounting, and the constraints and limitations on accounting information;
2. Define and use accounting and business terminology;
3. Explain what a system is and how an accounting system is designed to satisfy the needs of specific businesses and users; summarize the purpose of journals and ledgers;
4. Apply transaction analysis, input transactions into the accounting system, process this input, and prepare and interpret the four basic financial statements;
5. Distinguish between cash basis and accrual basis accounting and their impact on the financial statements, including the revenue recognition and matching principles;
6. Identify and illustrate how the principles of internal control are used to manage and control the firm’s resources and minimize risk;
7. 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;
8. 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;
9. Explain the valuation and reporting of current liabilities, estimated liabilities, and other contingencies;
10. Identify and illustrate issues relating to long-term asset acquisition, use, cost allocation, and disposal;
11. Distinguish between capital and revenue expenditures;
12. Identify and illustrate issues relating to long-term liabilities, including issuance, valuation, and retirement of debt;(including the time value of money)
13. Identify and illustrate issues relating to stockholders’ equity, including issuance, repurchase of capital stock, and dividends;
14. Explain the importance of operating, investing and financing activities reported in the Statement of Cash Flows;
15. Interpret company activity, profitability, liquidity and solvency through selection and application of appropriate financial analysis tools; and
16. Identify the ethical implications inherent in financial reporting and be able to apply strategies for addressing them.

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Course Content:

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Textbook:

Great news: your textbook for this class is available for free online!

Principles of Accounting Volume 1 Financial Accounting from OpenStax, ISBN-10: 1-947172-67-0

You have several options to obtain this book:

• View online
• Download a PDF

You can use whichever formats you want. Web view is recommended -- the responsive design works seamlessly on any device.

TENATIVE SCHEDULE - (Depending on the Pace of the Course)

 

Date	Chapter	Assignment	Homework
Tuesday, 7/16/2024	Chapter 1 - Role of Accounting in Society & Chapter 2 - Introduction to Financial Statements	Chapter 1 & 2 - in-class activities	Review the chapter
Wednesday, 7/17/2024	Chapter 2 - Introduction to Financial Statements & Chapter 3 - Analyzing and Recording Transactions	Chapter 2 & 3 - in-class activities	Review the chapter
Thursday, 7/18/2024	Chapter 3 - Analyzing and Recording Transactions	Chapter 3 - in-class activities	Review the chapter
Friday, 7/19/2024	Chapter 3 - Analyzing and Recording Transactions	Chapter 3 - in-class activities	Review the chapter
Monday, 7/22/2024	Chapter 4 - The Adjustment Process	Chapter 4 - in-class activities	Review the chapter
Tuesday, 7/23/2024	Chapter 4 - The Adjustment Process	Chapter 4 - in-class activities	Review the chapter
Wednesday,  7/24/2024	Chapter 5 - Completing the Accounting Cycle	Chapter 5 - in-class activities	Review the chapter
Thursday, 7/25/2024	Chapter 6 - Merchandising Transactions	Chapter 6 - in-class activities	Review the chapter
Friday, 7/26/2024	Chapter 6 - Merchandising Transactions	Chapter 6 - in-class activities	Review the chapter
Monday, 7/29/2024	Chapter 8 - Fraud, Internal Controls, and Cash	Chapter 8 - in-class activities	Review the chapter
Tuesday, 7/30/2024	Chapter 9 - Accounting for Receivables	Chapter 9 - in-class activities	Review the chapter
Wednesday, 7/31/2024	Chapter 10 - Inventory	Chapter 10 - in-class activities	Review the chapter
Thursday, 8/1/2024	Chapter 11 - Long-term Assets	Chapter 11 - in-class activities	Review the chapter
Friday, 8/2/2024	Chapter 12 - Current Liabilities	Chapter 12 - in-class activities	Review the chapter
Monday, 8/5/2024	Chapter 13 - Long-term Liabilities	Chapter 13 - in-class activities	Review the chapter
Tuesday, 8/6/2024	Chapter 14 - Corporation Accounting	Chapter 14 - in-class activities	Review the chapter
Wednesday, 8/7/2024	Chapter 16 - Statement of Cash Flows	Chapter 16 in-class activities	Review the chapter
Thursday, 8/8/2024	Chapter 16 - Statement of Cash Flows	Chapter 16 in-class activities	Review the chapter
Friday, 8/9/2024	Group Presentations / Wrap-up	Group Presentations	Review the chapter