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ACC 210, section 01 - Financial Accounting Prerequisites: BUS Major or Minor or ACC Minor or MTD or ECO or ISE Major. Advisory prerequisites: BUS 111 or BUS 115. Instructor: Carl J. Allocca, CPA Fall semester 2017 Tuesday & Thursday 2:30 – 3:50 Office Hours: Harriman Hall, room 305 Monday 11:30 - 1:00 Thursday 4:00 – 5:30 Teaching assistants’ office hours will be posted on Blackboard when available. E Mail: carl.allocca@stonybrook.edu Bulletin Description: Introduction to basic accounting fundamentals. Includes the recording, summarization and adjusting of financial transactions and the understanding of the basic accounting cycle. Explores the preparation and presentation of the basic financial statements; income statement, retained earnings statement, balance sheet and the statement of cash flows. Also includes accounting principles and concepts, asset and liability valuation. Course Materials: Required (1) Financial Accounting, Binder ready version with binder 8th Edition by Kimmel, Weygandt, Kieso, (includes Wiley Plus), John Wiley & Sons Inc. Optional (2) Four column analysis paper.

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Course Goals: The aim of this course is designed to introduce the student to, and explore the basic financial accounting terminology, principles, concepts and their relevant applications. This course will pursue this basic understanding in an effort to enable the student to begin to think and communicate in a business, economic & financial environment. Through a combination of discussion, lecture and most importantly illustrative exercises and problems the accounting principles and practices will be reinforced and expanded upon in an attempt to achieve this basic understanding. Course Learning Objectives: At a minimum, after completing this course you should be able to:

• Understand Generally Accepted Accounting Principles (GAAP), their use and application in transactional reporting and financial statement preparation and presentation.

• Prepare journal entries, adjustments and the basic financial statements.

• Understand the accounting information system concepts and applications, as well as relevant

account analyses.

• Analyze and assess a company's operational performance and financial position using various financial statement ratios.

• Prepare bank reconciliation and the related adjusting entries.

College of Business Program Learning Outcomes: This course will meet the following College of Business program learning goal and objectives:

• Knowledge Goal: Students will demonstrate an understanding of and apply core business knowledge

Objective: Solve discipline–specific problems demonstrating mastery of foundational business knowledge.

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• Critical Thinking and Analysis

Goal: Students will demonstrate the ability to think critically and to support decisions using analytical methods.

Objectives: Think critically Use analytical methods to support decision making.

• Ethics

Goal: Students will recognize the ethical and corporate social responsibilities of organizations

Objective: Identify ethical and corporate social responsibility issues in organizations.

These program learning objectives will be met through the completion of a semester project, which deals with analyzing transactions, the preparation and presentation of the basic financial statements, financial statement ratios and the analysis and assessment of a company's operational performance and financial position. You will also be required to prepare a report, which substantiates your analysis and justifies your observations. Exams and weekly homework assignments will also be used. Grading and Assessment: Exam # 1 20% Exam # 2 25% Final Exam 25% Project Assignments 20% Homework submissions via Wiley Plus 10% Attendance: To facilitate the learning experience, it is essential that every student make an effort to attend every class session. Excessive absences may result in a reduction of the overall course grade.

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Homework: Selected homework will be assigned from each chapter covered. These assignments will be completed and submitted online via the Wiley Plus website, and will comprise 10% of the total course grade. The Wiley Plus student access card is required to register online so that you will be able to view and complete the appropriate homework assignments. The student access card is included with the textbook. It is essential that all homework assignments are attempted and submitted by the designated due dates. Unfortunately, there will be no time extensions granted for late homework submissions. Academic Integrity: Each student must pursue his or her academic goals honestly and be personally accountable for all submitted work. Representing another person's work as your own is always wrong. Faculty is required to report any suspected instances of academic dishonesty to the Academic Judiciary. For more comprehensive information on academic integrity, including categories of academic dishonesty please refer to the academic judiciary website at http://www.stonybrook.edu/uaa/academicjudiciary/ Academic Dishonesty: The College of Business regards any act of academic dishonesty as a major violation punishable by severe penalties, including dismissal from the University. University policy requires that instructors and GAs and TAs report all suspected cases of academic dishonesty to the appropriate Academic Judiciary Committee, which is empowered to take strong action against violators. Under no circumstances will the College of Business permit cheating of any kind. Many activities constitute academic dishonesty. The following list is not inclusive, only suggestive:

• Cheating on exams or assignments by the use of books, electronic devices, notes, or other

aids when these are not permitted, or by copying from another student. • Collusion: two or more students helping one another on an exam or assignment when it is

not permitted.

• Ringers: taking an exam for someone else, or permitting someone else to take one's exam. Submitting the same paper in more than one course without permission of the instructors.

• Plagiarizing: copying someone else's writing or paraphrasing it too closely, even if it

constitutes only some of your written assignment.

• Submitting the same paper in more than one course without approval of the instructors.

• Falsifying documents or records related to credit, grades, status (e.g., adds and drops, P/NC grading), or other academic matters.

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• Altering an exam or paper after it has been graded in order to request a grade change.

• Stealing, concealing, destroying, or inappropriately modifying classroom or other instructional material, such as posted exams, library materials, laboratory supplies, or computer programs.

• Preventing relevant material from being subjected to academic evaluation.

General Information: (1) Americans with Disabilities Act If you have a physical, psychological, medical, or learning disability that may impact your course work, please contact Disability Support Services at (631) 632-6748 or http://studentaffairs.stonybrook.edu/dss/. They will determine with you what accommodations are necessary and appropriate. All information and documentation is confidential. Students who require assistance during emergency evacuation are encouraged to discuss their needs with their professors and Disability Support Services. For procedures and information go to the following website: http://www.sunysb.edu/ehs/fire/disabilities.shtml

(2) Critical Incident Management Stony Brook University expects students to respect the rights, privileges, and property of other people. Faculty are required to report to the Office of University Community Standards any disruptive behavior that interrupts their ability to teach, compromises the safety of the learning environment, or inhibits students' ability to learn. Faculty in the HSC Schools and the School of Medicine are required to follow their school-specific procedures. Further information about most academic matters can be found in the Undergraduate Bulletin, the Undergraduate Class Schedule, and the Faculty-Employee Handbook. (3) Solutions to the chapter exercises and problems will be available for your review in the teaching assistant’s office and on the Blackboard course website. After you obtain a user name and password, you can access the course web page at http://blackboard.stonybrook.edu

(4) Access to the online Blackboard site for our course. You can access class information online at: http://blackboard.sunysb.edu. If you have used Stony Brook's Blackboard system previously, your login information (Username and Password) has not changed. If you have never used Stony Brook's Blackboard system, your initial password is your SOLAR ID# and your username is the same as your Stony Brook (sparky) username, which is generally your first initial and the first 7 letters of your last name.

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If you are having trouble logging into Blackboard, you will need to log into SOLAR to verify your Net ID username & set your Net ID Security Question and Password. For more information, visit: http://clientsupport.stonybrook.edu/

If you are a student and continue to have a problem logging into Blackboard, you will need to bring photo ID to either the Melville Library SINC Site Room S1460 or the Union SINC Site Room 080 and speak to a Blackboard Administrator from Saturday - Friday from 9 am - 5 pm.

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( ) - Assignments in parentheses are those that will be considered as homework due for submission online via Wiley Plus. Please see the Wiley Plus course URL in the Course Documents section of Blackboard to access these problems.

Projected Course Outline

Session Topic Reading Exercises Problems 8/29, 8/31, Administrative Introduction to Financial Chap. 1 1, 3, 10, 12 (3, 5) Statements 9/5 Labor Day – No Class 9/7, 9/12 Introduction to Financial Chap. 1 1, 3, 10, 12 (3, 5) Statements 9/14, 9/19, A Further Look at Chap. 2 9, 11, 12, 13 (3, 6) 9/21 Financial Statements 9/26, 9/28, The Accounting Inform. Chap. 3 1, 2, 7, 9, (3, 5) 10/3 System 10/5, 10/10, Accrual Accounting Chap. 4 2, 3, 5, 9, 10 (3, 7) 10/12 Concepts 10/17 Class Exam # 1 Chapters 1 – 4

10/19, 10/24, Merchandising Chap. 5 2, 4, (6), 12, 15 (3) 10/26 Operation

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10/31, 11/2, Reporting and Analyzing Chap. 6 1, 7, 9, 17 (1, 3) Inventory (Project Assignments - (1) Financial Statement Preparation, and

(2) Bank Reconciliation projects are assigned.)

11/7, 11/9, Internal Control Chap. 7 6, 9, 14, 16 (3, 8) 11/14 & Cash 11/16 Class Exam # 2 Chapters 5 – 7. 11/21, Reporting & Analyzing Chap. 8 4, 6, 8, 10 (5, 6)

Accounts & Notes Receivable 11/23 Thanksgiving – No Class 11/28, Reporting & Analyzing Chap. 8 4, 6, 8, 10 (5, 6) 11/30, Accounts & Notes Receivable 12/5, 12/7 Reporting & Analyzing Chap. 9 1, 5, 7, 20, (2, 9) Long Lived Assets (Project assignments are due for submission on December 5th.)

12/18 Final Exam - Cumulative Chapters 1- 9. (Location to be announced) 11:15 - 1:45