UNIVERSITY OF ST. FRANCIS
College of Business
Joliet, IL 60435

ACCT 125 – Financial Accounting - 3 semester hours
Fall 2007  MWF 10:00-10:50 a.m.  Motherhouse C105 CRN 10001

Instructor: Tony Zordan, D.B.A., CPA, CMA
Professor of Accounting
Office: N212   815-740-3608
Home: 773-238-5558  (before 9 p.m. only)
Email: azordan@stfrancis.edu

Website: http://www.stfrancis.edu/cob/tonyz/Index.html

Office hours: MWF 9:00-9:45; 11:00-12:00; TR 8:30-9:15; and by appointment

Teaching hours: MWF 8:00-8:50 (N219); 10:00-10:50 (C105) TR 9:30-10:45 (C105)
Approximate on-campus hours: MTWRF 8:00-4:00

USF MISSION STATEMENT:  As a Catholic university rooted in the liberal arts, we are a welcoming community of learners challenged by Franciscan values and charism, engaged in a continuous pursuit of knowledge, faith, wisdom, and justice, and ever mindful of a tradition that emphasizes reverence for creation, compassion, and peacemaking. We strive for academic excellence in all programs, preparing women and men to contribute to the world through service and leadership.

COLLEGE OF BUSINESS MISSION STATEMENT:  The mission of the College of Business is to offer undergraduate and graduate degree programs that are career oriented and focus on academic excellence.  Undergraduate programs are designed for traditional and nontraditional students providing a blend of professional studies and a strong liberal arts curriculum. Graduate programs are designed for working professionals and are practitioner based. All programs in the College of Business are driven by the University’s Catholic Franciscan mission. The College seeks to inspire in its students a love of knowledge and truth and to instill the Franciscan values of respect, compassion, integrity and service.

COURSE PREREQUISITES:  Intermediate Algebra

COURSE DESCRIPTION: This course presents accounting as an information system that produces summary financial statements, primarily for users external to a business or other enterprise. Students study the forms of business organization and the common transactions entered into by businesses. The emphasis is on understanding and applying basic accounting principles and other economic concepts that guide the reporting of the effect of transactions and other economic events on the financial condition and operating results of a business. How to analyze and interpret historical financial statements, as well as the limitations of using these in making forward-looking decisions, is included.

COURSE OBJECTIVES:

1. To provide an understanding of basic accounting concepts and applications and an understanding of how the accounting function interacts with other areas of business administration.
2. To develop the ability to think analytically and independently.
3. To improve written, verbal, and computing communication skills.

REQUIRED MATERIALS:
Needles, B. E., Powers, M., Crosson, S. V. (2008). Financial & Managerial Accounting, 8e. Houghton Mifflin: Boston.
            General Ledger Software, Houghton-Mifflin. (packaged with text)
One red pen or pencil.

OPTIONAL MATERIALS:
            Study Guide to accompany the text
            Working Papers to accompany the text
            "The Wall Street Journal"

CLASS POLICY / FORMAT:  The above objectives will be met through lectures / discussions, problem solving, discussion of current events, examinations and quizzes. I expect that you will have read the assigned material before class at least once. You should attempt to outline the chapter before class, then annotate your notes from the lecture material. In addition to class handouts, an author-provided PowerPoint presentation is available on the St. Francis network on the O: drive (USF1\Data1) at Student Common\College of Business\ Zordan\ACCT 125 Fin Acctg.  Students are encouraged to visit the text’s website at http://college.hmco.com/students.  Go to Select Your Course Area , then select accounting, then under Introductory Accounting (not College Accounting), then to Needles, Financial and Managerial Accounting 8e (not Principles of…). The website contains quizzes, homework check answers, the PowerPoint slides and other aids.

Attendance is strongly recommended and is mandatory on the days tests are given. Excessive absences (>6) will affect your grade. Each absence above this number will reduce your total points by 10. As an alternative, the professor, at his discretion, may assign additional work. Attendance will be taken at the beginning of class. You are responsible for all material discussed, handed out or assigned in class even if you are absent. Please make every effort to be on time for class.  (Two tardies = one absence.) Please dress modestly and don’t wear hats in class. Note the required event on October 22 and plan to attend.

EXAMS:  There will be four exams of varying weights. Each exam will consist of multiple choice, essays and problems. If you must miss an exam due to a hardship you must talk to me before the exam. Failure to do this may result in a zero for that exam. You may use calculators but you must write down formulas and steps in the process of solving the problems. Be sure nothing is written on the calculator and take it out of any jacket. Correct answers must be supported by calculations to receive credit. Also, clearly mark your answers. If you answer on the back, clearly note this. No cell phones can be used during exams. (You should use a regular calculator.)

Cheating will not be tolerated. The guidelines on academic integrity in the University Catalog (p. 24) state that breaches of academic integrity constitute serious offenses. Students have an obligation to exhibit honesty in carrying out their academic assignments. Students may be found to have violated this obligation if they plagiarize or cheat. Plagiarism is presenting the work of others as one's own; cheating is giving, taking, or accepting any illicit advantage for any course work inside or outside the classroom.

HOMEWORK:  In order to gain a thorough understanding of the topics covered in this class it is essential that your homework be completed before class. We will review your completed homework in class. Be sure to use available check figures beginning on page xxvii (27) of the preface or on the authors’ website. You should be prepared to present your solutions in class and defend them. Any corrections or additions should be made in red. The homework for most chapters will be collected after class. Occasionally, I will collect, log in and return homework at the beginning of class. It is worth two to three points per chapter. When submitting homework, please use these procedures:  1) Start each problem on a separate page (two exercises may be put on one page);  2) Do not write on the back side of the page;  3) Don't submit paper with frayed edges;  4) Write your name on each page;  5) Use a staple or paper clip.

You must make an honest effort at each problem to receive credit. In order to demonstrate honest effort you are to do the following for each assigned exercise or problem that you are unable to complete:  1) Turn in all scratch work used trying to work the problem; and 2) On a separate sheet of paper, letter the page a through f and provide the following information:
            a. The problem attempted.
            b. The amount of time you spent trying to work the problem.
            c. Identify the requirements you were able/unable to work.
            d. State what you did not understand about the problem and its requirements.
            e. State which pages in the textbook you read in your attempt to solve the problem.
            f. Identify by page number which examples in the text you looked at for assistance.

No late homework will be accepted (i.e., after the end of the class in which it is covered). Normally, your homework cannot "attend" class without you. Cheating or plagiarism will not be tolerated. Again, see the guidelines on academic integrity in the University Catalog.

Additional readings and problems will be assigned at the discretion of the professor.

QUIZZES:  Quizzes will be given throughout the course. Quizzes may be given on some chapters after the chapter is discussed in class. Each will be worth approximately five points. The lowest grade will be dropped. Some missed quizzes can be made up if you contact me before the next class day but, generally, no make-up quizzes will be given.

WRITING ASSIGNMENTS:  Each is worth 5 points. One of the most important things you can do in college is to improve your writing ability. I suggest you bring your work to the Writing Center before turning it in. Use a word processor, size 12 Times New Roman font, and double spacing. Topics and further instructions will be provided.

GLS – General Ledger Software:  Several assignments may be completed using accounting software packaged with the text. Software availability will be discussed the first week of class.

GRADING SYSTEM: (no extra credit)
            Four exams                              380 points                    A = 90-100%
            Quizzes/Writing                                                            B = 80- 89.99%
            Assignments/Homework             70 points                    C = 70- 79.99%
            Total approx.                            450 points                    D = 60- 69.99%
                                                      ==========                    F = below 60%

WITHDRAWAL / DROP:    The last day to drop this course is August 31, 2007. In order to withdraw from this course submit the appropriate form, signed by myself and your advisor, to the Registrar by Friday, November 2, 2007.

OTHER:  The University strives to be in compliance with Americans with Disabilities Act (ADA) regulations. To this end, students with disabilities who require reasonable accommodations to fully participate in course activities or meet course requirements are encouraged to register with the Office of Disability Services to discuss access issues.  Please call 815-740-5060 or visit the Library  L 214 to coordinate accommodations. Tutoring and other assistance can also be found in the ARC.  Stop in or call 815-740-5060 for more information or tutoring times.

Love is not a feeling, it’s an act of your will.

FINANCIAL ACCOUNTING
TENTATIVE SCHEDULE (43 MWF days plus final)
Fall 2007

Homework is DUE on the date indicated. SE = Short exercise, E = Exercise, P = Problem, C = Case, GLS = use General Ledger Software, WA = Writing assignment. Note: Additional homework may be assigned. The schedule is subject to change.