ACCT 2201 Principles of Accounting I 3 credits. Study of financial accounting processes, including analysis and recording of transactions, preparation of financial statements, and written communication of financial information.

Text: Financial Accounting Tools for Business Decision Making - Third Edition by Kimmel, Weygandt, and Kieso, published by Wiley.  There is an optional study guide containing numerous objective questions.  Many students find it quite helpful.

Prerequisites: English 1101 (English Composition) and Math 1143 (College Algebra) or higher.  All students not meeting the prerequisites will be administratively dropped. Basic proficiency in spreadsheets and word processing is also expected.

Objectives: This class is an introduction to accounting and financial reporting, the language of business.  Upon completion of the course students should have a basic ability to read financial statements and knowledge of the record-keeping associated with their preparation.  The class also encourages development of critical thinking and writing skills and awareness of ethical issues associated with financial reporting and business in general.  See the attached concept map for a more detailed description of the course and its objectives.

Grading: Your course grade will be a weighted average of the grades on the items below:

Item Weight
1. Writing Assignment 5%
2. Additional Exam Either dropped or replaces Exam 1 or 2
3. Exam 1 20%
4. Exam 2 25%
5. Comprehensive Final Exam 35%
Total 85%

For example, on our “4 point” scale with A=4 and F=0, a student with grades of B, A, F, D, and B on items 1-5, respectively would earn a grade of “C” computed as follows:

Exam number 1 is replaced by the Additional Exam

The weighted average grade is computed out of 85% instead of 100%.

{(3*.05)+(4*.20)+(1*.25)+(3*.35)}/.85 = 2.65 = B minus

Attendance:  Daily attendance is expected.  Students will be held responsible for all information covered in class and in assigned readings.  Nonattendance is at your own risk!!!

Assignments: The assignments are listed on the attached outline and should be completed before class on the date indicated. A small amount of additional work will be assigned from time to time.  Homework will be collected on a random basis and marked as “credit” or “no credit” depending on the amount of effort expended.  Receiving a grade of more than 3 “no credits” over the course of the semester will cause your class grade to drop one-half of a letter.  Answers to all assigned problems are on the WEB at cob.isu.edu/acct201/

Information for the graded writing assignment and the monopoly project will be forthcoming.

Exams: There will be two midterm exams and a comprehensive final.  Midterm exams will be given during regularly scheduled classes. Makeup exams will be given only in extremely rare cases.  If, for any reason, you feel you will not be able to sit for an exam, you MUST contact the instructor ahead of time to discuss your situation.

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