Course Number and Title: ACC703 – Financial Accounting

Professor: Paul F. McGee, CPA Office Hrs. MW 12:30 - 2:00 P.M.

Telephone: (978) 542-6647, (978) 542-6608/7314

Fax (978) 741-6027 Email paul.mcgee@salemstate.edu

Course Description: This course presents the basic concepts and principles of external financial reporting, as well as the nature of management accounting. Topics to be covered include generally accepted accounting principles, financial statement preparation and analysis, cost concepts, budgeting, and product pricing. The course will integrate accounting ethics, international accounting ,and critical thinking issues.

Course Objectives: Introduction of basic financial and managerial accounting concepts. The course should contribute to a student's communication, problem solving , and critical thinking skills. Students should also be competent in gathering financial information electronically.

Required Materials: Introduction to Accounting: An Integrated Approach. Annual Report Booklet, Ainsworth, Deines, Plumlee and Larson. Irwin, 1997.

Course Activities to Meet Objectives: Generally I will lecture on a chapter and then we will review the homework assignment. I expect students to come to class prepared with homework completed. Adding comments to class and asking questions are encouraged at any time. Class begins at 7:00 P.M., be there. Expertise in the accounting area is best gained through problem solving; therefore, numerous problems will be assigned and discussed in class. Papers will be assigned. All papers must be typed, 1.5 or double-spaced. Grammar, spelling, and punctuation will be important. American Institute of Certified Public Accountants (AICPA) cases will be presented for classroom discussions and/or written assignments. I will not accept late work unless you have an excused absence or have made prior arrangements.

Schedule of Assignments: See attached.

Course and Grading Policies: There will be two exams. See attached course outline for dates and chapters that will be covered. The course material itself is cumulative, so if you do not understand the early chapters you will find it difficult to follow the later ones. The exams will consist of multiple choice questions and problems. The final exam will be cumulative with an emphasis on the material covered since the mid-term exam. Writing assignments will be distributed during the course. Class participation can add to your grade, i. e. B- from a C+.

Grades: Mid-term = 30%, Final; = 40%, Papers, cases participation = 30%.

Attendance: Regular attendance is strongly recommended. A maximum of three absences may be allowable in this course. A fourth absence may be allowable on special petition from the registrar and me. Any student who is unable to attend classes because of his/her religious beliefs will be excused. Makeups: Only for excused absences. Must see me prior to exam.

Last Day to Withdraw from the Course: The last day on which withdrawal from the course is permitted with a "W" grade is the last day of the tenth week of the semester.

Assistance: Any student having problems with course material should feel free to talk to me to arrange for assistance. I will be available after this class and during office hours or by appointment.

Tutoring: Free tutoring is available in the Accounting Lab on South Campus. Hours of operation are posted on the door. The Learning Center is located on the fourth floor of the Library and is open Monday - Friday from 8:30-5:00. Accounting tutors are available. The Writing Center is located in Meier Hall, Room 223.

College Policy Statement: A Salem State College is committed to non-discrimination of handicapped persons as specified in Section 504 of the Rehabilitation Act of 1973. Students who qualify as handicapped persons under the definition of this act should notify me at the beginning of the course so that reasonable modifications in course requirements may be made when necessary. Alternative methods of testing and evaluation are available in all courses offered by Salem State for students with requirements for such methods.

General: The above procedures and following schedule are subject to change in the event of extenuating circumstances.

In addition to the above assignments, writing assignments will be assigned throughout the course.