ACCT 211 Financial Principles Syllabus

Financial Principles > Syllabus | Concourse

📍 Course Description

In this course, students will not only study the process used to create and produce financial statements for external users through basic transactions but will also perform basic accounting functions through applied learning. Registration Restriction: Residential students are only able to take this course residentially.

Requisites

For information regarding prerequisites for this course, please refer to the Academic Course Catalog (link ).

🅀 Rationale

This is a foundation course in principles of accounting designed primarily for the accounting or business students as part of an integrated business education, and also useful for any major who wishes to understand the language of business.

🀒 Course Learning Outcomes

Upon successful completion of this course, the student will be able to:

• A. Correctly apply terminology used in accounting, which is the language of business.
• B. Analyze business transactions in order to record these business transactions in the accounting records according to generally accepted accounting principles.
• C. Demonstrate his/her ability to complete the accounting cycle for both service entities and merchandise entities.
• D. Compile and analyze the four basic financial statements—Income Statement, Statement of Owner’s Equity, Balance Sheet, and Statement of Cash Flows—according to generally accepted accounting principles.
• E. Analyze and record transactions related to stocks, bonds, and investments.
• F. Integrate biblical principles related to financial accounting.

🀭 Course Resources

Click on the following link to view the required resource(s) for the term in which you are registered: Liberty University Online Bookstore

Additional Materials for Learning:

• Computer with basic audio/video output equipment
• Internet access (broadband recommended)
• Canvas recommended browsers (link )
• Please note: technical skills for this course include basic Canvas navigation skills.

 Course Assignments

• Textbook readings and lecture presentations
• Course Requirements Checklist: After reading the Course Syllabus and Student Expectations (link ), the student will complete the related checklist found in the Course Overview.

Read & Interact Assignments:

• The student will be required to read and interact with the textbook. There are points associated with each of these assignments.

Homework Assignments (25):

• The student will be assigned homework to complete in Connect. The homework will consist of exercises, problems, and SmartBook/LearnSmart activities. All assignments for a given module: week are divided into weekly folders inside of the Connect system.

Individual Learning Project Assignment:

• The student will submit a solution to a problem that will be provided in Connect. For this problem, financial statements will be prepared and submitted within Connect.

Quizzes (4):

• There will be 4 cumulative quizzes to be completed through Connect. The questions will be true/false and multiple-choice and will vary in number depending on the quiz. The quiz will cover all of the material covered within the course up to the Module: Week of the quiz.

 Course Grading

• Course Requirements Checklist: 10
• Read & Interact Assignments (12 @ 8 pts each): 96
• Homework Assignments:
  • Exercise Assignments (12 @ 10 pts each): 120
  • Problem Assignments (12 @ 25 each): 300
  • Time Value of Money Assignment: 24
  • Individual Learning Project Assignment: 100
• Quizzes (1 at 60 pts; 3 at 100 pts each): 360
• Total: 1010

 Course Policies

Instructor Feedback and Response Time:

• Responses to student emails will be provided within 48 hours and assignment feedback will be given within 1 week from the assignment due date.

Quality Matters Seal of Approval:

• This certification mark recognizes that this course met Quality Matters Review Standards.
• Quality Matters (QM) is a non-profit organization committed to quality assurance in Online Education. Courses that have received the QM Seal of Approval have passed rigorous reviews by Quality Matters evaluators and maintain their approval for five years.

 Policies:

• Late Assignment Policy: Course Assignments, including discussions, exams, and other graded assignments, should be submitted on time. If the student is unable to complete an assignment on time, then he or she must contact the instructor immediately by email. Assignments that are submitted after the due date without prior approval from the instructor will receive the following deductions:
  1. Late assignments submitted within one week after the due date will receive up to a 10% deduction.
  2. Assignments submitted more than one week and less than 2 weeks late will receive up to a 20% deduction.
  3. Assignments submitted two weeks late or after the final date of the course will not be accepted outside of special circumstances (e.g. death in the family, significant personal health issues), which will be reviewed on a case-by-case basis by the instructor.
  4. Group projects, including group discussion threads and/or replies, and assignments will not be accepted after the due date outside of special circumstances (e.g. death in the family, significant personal health issues), which will be reviewed on a case-by-case basis by the instructor.

Disability Assistance:

• Students with a disability and those with medical conditions associated with pregnancy may contact Liberty University’s Online Office of Disability Accommodation Support (ODAS) at LUOODAS@liberty.edu for accommodations. Such accommodations require appropriate documentation of your condition. For more information about ODAS and the accommodations process, including how to request an accommodation, please visit link . Requests for accommodations not related to disabilities or pregnancy must be directed to the Registrar’s Office, which generally handles medical needs support.

Course Attendance:

• In an effort to comply with U.S. Department of Education policies, attendance is measured by physical class attendance or any submission of a required assignment within the enrollment dates of the course (such as examinations, written papers or projects, any discussion posts, etc.) or initiating any communication with one’s professor regarding an academic subject. More information regarding the attendance policy can be found in the Academic Course Catalogs (link ). Regular attendance in online courses is expected throughout the length of the term. Students who do not attend within the first week of a sub-term by submitting a required academic assignment (such as the Course Requirements Checklist, an examination, written paper or project, discussion post, or other academic activity) will be dropped from the course. Students who wish to re-engage in the course are encouraged to contact Academic Advising to discuss their enrollment options. Students who begin an online course, but at some point in the semester cease attending, and do not provide official notification to withdraw, will be assigned a grade of “FN” (Failure for Non-Attendance). Students wishing to withdraw from courses after the official start date should familiarize themselves with the withdrawal policy.

Grading Scale

• A: 900-1010
• B: 800-899
• C: 700-799
• D: 600-699
• F: 0-599

For courses with a Pass/NP final grade, please refer to the Course Grading section of this syllabus for the assignment requirements and/or point value required to earn a Passing final grade.

Add/Drop Policy

The full policy statement and procedures are published in the Policy Directory (link ).

Honor Code

Liberty University comprises a network of students, Alumni, faculty, staff and supporters that together form a Christian community based upon the truth of the Bible. This truth defines our foundational principles, from our Doctrinal Statement to the Code of Honor. These principles irrevocably align Liberty University’s operational procedures with the long tradition of university culture, which remains distinctively Christian, designed to preserve and advance truth. Our desire is to create a safe, comfortable environment within our community of learning, and we extend our academic and spiritual resources to all of our students with the goal of fostering academic maturity, spiritual growth and character development.

Communities are predicated on shared values and goals. The Code of Honor, an expression of the values from which our Doctrinal Statement was born, defines the fundamental principles by which our community exists. At the core of this code lie two essential concepts: a belief in the significance of all individuals, and a reliance on the existence of objective truth.

While we acknowledge that some may disagree with various elements of the Code of Honor, we maintain the expectation that our students will commit to respect and uphold the Code while enrolled at Liberty University.

Adherence to the principles and concepts established within facilitates the success of our students and strengthens the Liberty community.

Schedule

Course Overview

• Student Acknowledgements: Course Requirements Checklist

Technology Integration Set-Up

• Prepare: Register for Connect

Module 1: Week 1

• Learn: Read: 4 items, Watch: 1 item, Explore: 2 items
• Apply:
  • Homework: Accounting in Business Exercises Assignment
  • Homework: Accounting in Business Problems Assignment
  • Homework: Accounting for Business Transactions Exercises Assignment
  • Homework: Accounting for Business Transactions Problems Assignment
  • Extra Credit: Part 1 - Undergraduate Level Business Program Assessment Assignment
  • Extra Credit: Part 2 - Completion Certificate Assignment

Module 2: Week 2

• Learn: Read: 2 items, Watch: 1 item
• Apply:
  • Homework: Adjusting Accounts Exercises Assignment
  • Homework: Adjusting Accounts Problems Assignment
  • Quiz: Accounting in Business Assignments and Adjusting Accounts

Module 3: Week 3

• Learn: Read: 4 items, Watch: 1 item
• Apply:
  • Homework: Merchandising Operations Exercises Assignment
  • Homework: Merchandising Operations Problems Assignment
  • Homework: Inventories and Cost of Sales Exercises Assignment
  • Homework: Inventories and Cost of Sales Problems Assignment

Module 4: Week 4

• Learn: Read: 2 items, Watch: 1 item
• Apply:
  • Homework: Cash, Fraud, and Internal Control Exercises Assignment
  • Homework: Cash, Fraud, and Internal Control Problems Assignment
  • Quiz: Accounting for Merchandising, Inventories and Control of Cash

Module 5: Week 5

• Learn: Read: 4 items, Watch: 2 items
• Apply:
  • Homework: Accounting for Receivables Exercises Assignment
  • Homework: Accounting for Receivables Problems Assignment
  • Homework: Accounting for Long-Term Assets Exercises Assignment
  • Homework: Accounting for Long-Term Assets Problems Assignment

Module 6: Week 6

• Learn: Read: 3 items, Watch: 3 items
• Apply:
  • Homework: Current Liabilities Exercises Assignment
  • Homework: Current Liabilities Problems Assignment
  • Homework: Time Value of Money Assignment
  • Quiz: Accounting for Receivables, Long-Term Assets and Current Liabilities

Module 7: Week 7

• Learn: Read: 6 items, Watch: 1 item
• Apply:
  • Homework: Accounting for Long-Term Liabilities Exercises Assignment
  • Homework: Accounting for Long-Term Liabilities Problems Assignment
  • Homework: Corporate Reporting and Analysis Exercises Assignment
  • Homework: Corporate Reporting and Analysis Problems Assignment
  • Homework: Reporting Cash Flows Exercises Assignment
  • Homework: Reporting Cash Flows Problems Assignment

Module 8: Week 8

• Learn: Read: 2 items, Watch: 1 items
• Apply:
  • Project: Individual Learning Project Assignmentm
  • Quiz: Accounting for Long-Term Liabilities, Reporting of Corporate Activities and Cash Flow